Roper Technologies To Acquire Procare Solutions For Approx. $1.75 Bln

(RTTNews) - Engineered products maker, Roper Technologies (ROP) announced Thursday that it would be acquiring Procare Solutions from Warburg Pincus and TA Associates for approximately $1.75 billion along with a $110 million tax benefit from the transaction.

Procare is an integrated child care center management software provider and Roper expects that the acquisition will contribute around $260 million in revenue and $95 million EBITDA to the company's Application Software segment by March 31, 2025.

Roper added that the acquisition will be accretive to its cash flow in 2024 and its adjusted DEPS in 2025. Also, it would help in its long-term revenue growth.

The transaction, funded from Roper's credit facility, is expected to be closed in the first quarter of 2024.

In the pre-market activity, Roper's stock is climbing 0.41 percent, to $550 on the Nasdaq.