Roper Updates FY16 Adj. EPS Guidance; Announces Deal To Buy ConstructConnect

(RTTNews) - Roper Technologies, Inc. (ROP) updated its full year adjusted earnings per share guidance to $6.48 - $6.60. Analysts polled by Thomson Reuters expect the company to report profit per share of $6.60. Analysts' estimates typically exclude special items.

Roper expects fourth-quarter adjusted earnings per share in a range of $1.77 - $1.89. Analysts polled by Thomson Reuters expect the company to report profit per share of $1.91.

Roper separately announced an agreement to acquire ConstructConnect, a provider of cloud-based data, collaboration, and workflow automation solutions to the commercial construction industry. The purchase price for the acquisition is $632 million. Roper expects ConstructConnect to generate approximately $150 million of revenue in 2017. ConstructConnect's software as a service (SaaS) solutions have over 800,000 users spanning general contractors, subcontractors, and building product manufacturers throughout the U.S. and Canada.