Roper Technologies To Acquire Deltek For $2.8 Bln In Cash - Quick Facts

(RTTNews) - Roper Technologies, Inc. (ROP) said it has agreed to acquire Deltek Inc. (PROJ) in an all cash transaction valued at $2.8 billion. Deltek is a provider of enterprise software and information solutions for project-based businesses serving niche markets, including government contractors and professional services firms.

Brian Jellison, CEO of Roper Technologies said, "Deltek, along with our recent acquisitions of Aderant and ConstructConnect, significantly expands our reach and enhances our capabilities in application software."

Deltek's leadership team, headed by CEO Mike Corkery, will continue to manage the business and its global team of 2,400 professionals. Deltek's name, brands and office locations will not change as a result of the transaction.

Roper Technologies said it will fund the acquisition with its cash on hand, borrowings under its existing credit facility, and new debt, which Roper plans to issue this month.

Roper expects the transaction to be accretive to its 2017 cash flow. Including estimated financing costs, the company expects the acquisition to add $80 million to Roper's 2017 free cash flow.

Roper also expects Deltek to deliver $535 million of revenue and $200 million of EBITDA in 2017, excluding the impact of fair value accounting of Deltek's deferred revenue. The company expects the transaction to have a limited impact on its 2017 earnings per share due to non-cash amortization expense, the extent of which has not yet been determined.