Roper Technologies Acquires Transact Campus

SARASOTA, Fla., Aug. 15, 2024 (GLOBE NEWSWIRE) — Roper Technologies, Inc. (Nasdaq: ROP) today announced that it has entered into a definitive agreement to acquire Transact Campus, Inc. (“Transact”) for a net purchase price of $1.5 billion, including a $100 million tax benefit resulting from the transaction. The net purchase price represents approximately 14 times expected 2025 EBITDA. Transact is an award-winning provider of innovative technology and payment solutions for campuses, offering a comprehensive suite of services, including campus identification and secure access software, tuition and fee software and payment processing, and campus point-of-sale commerce solutions. Transact serves higher education institutions, healthcare facilities, and corporate campuses. Transact will be combined with Roper’s CBORD, a provider of foodservice, nutrition, access and security, and campus commerce solutions for healthcare and senior living facilities, higher education institutions, and K-12 school districts.

“Transact is an excellent business that meets all of our acquisition criteria, including mission-critical solutions, strong customer retention and excellent cash conversion,” said Neil Hunn, president and CEO of Roper Technologies. “This is another example of Roper’s disciplined, process-oriented approach to the acquisition.”

The combined company will utilize the Transact and CBORD brands and will be led by Nancy Langer, CEO, and Dan Park, CEO of CBORD, will be its COO.

“Combining Transact and CBORD and leveraging each company’s unique core competencies will expand and accelerate the innovation they bring to their clients,” said Mr. Hunn. “The work Nancy and her leadership team have accomplished is very impressive, and we are pleased to welcome them to the Roper family.”

Acquisition Financing and Financial Perspectives

The transaction is expected to close in the near future, and Roper will finance the acquisition using existing cash resources and a revolving credit facility.

Transact is expected to contribute approximately $325 million in revenue and $105 million in EBITDA in 2025, including cost synergies, in the combined business. Roper expects Transact to deliver long-term high single-digit organic revenue growth.

About Roper Technologies

Roper Technologies is a component of the Nasdaq 100, S&P 500 and Fortune 1000. Roper has a proven, long-term track record of compound cash flow and shareholder value. The company operates market-leading businesses that design and develop vertical software and technology products for a variety of defensive market niches. Roper uses a disciplined, analytical and process-oriented approach to redeploying excess capital toward high-quality acquisitions. Additional information about Roper is available on the company’s website at www.ropertech.com.

About CBORD

CBORD is a leading provider of food and nutrition management software, integrated security solutions, campus cards and cashless systems, and commerce platforms for healthcare, retirement homes, higher education, and business campuses. With more than 10,000 organizations using CBORD solutions worldwide, CBORD is committed to delivering innovative and comprehensive technology solutions that improve the daily lives of patients, residents, students, staff, and administrators.

About Transact Campus

Transact Campus is a leader in innovative payment, campus ID and commerce solutions for the connected campus. Transact’s highly configurable, mobile campus technology ecosystem simplifies the user experience across the entire spectrum of campus life. Transact’s offerings include integrated solutions for tuition and other student expense payments, multi-functional campus IDs and campus commerce. With a long-standing reputation in the education community, Transact proudly serves over 12 million users across 1,940+ client institutions, has delivered over 1.9 million mobile device credentials and has enabled hundreds of millions of contactless transactions and purchases across mobile wallets.

Contact details:
Investor Relations
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The information contained in this press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements may include, but are not limited to, statements regarding operating results, the success of our internal operating plans and the prospects for integrating newly acquired businesses and contributing to future growth, earnings and cash flow expectations. Forward-looking statements may be identified by words or phrases such as “anticipate,” “estimate,” “plan,” “expect,” “project,” “should,” “will,” “believe,” “intend” and similar words and phrases. These statements reflect management’s current beliefs and are not guarantees of future performance. They involve risks and uncertainties that could cause actual results to differ materially from those contained in any forward-looking statement. Such risks and uncertainties include our ability to identify and complete acquisitions consistent with our business strategies, integrate acquisitions that have been completed, realize expected benefits and synergies from acquired businesses and manage other risks related thereto, including obtaining any required regulatory approvals in that regard. We also face other general risks, including our ability to realize cost savings from our operating initiatives, general economic conditions and conditions in the specific markets in which we operate, including risks related to labor shortages and rising interest rates, changes in foreign exchange rates, difficulties with exports, risks related to our international operations, cybersecurity and data privacy risks, including litigation resulting therefrom, risks related to political instability, military action, terrorist incidents, public health crises (such as the COVID-19 pandemic) or natural disasters, increased product liability and insurance costs, increased warranty risks, future competition, changes in the supply or pricing of parts and components, including as a result of the current inflationary environment and ongoing supply chain constraints, environmental compliance costs and liabilities, litigation risks and costs, potential write-offs of our significant intangible assets, and risks related to obtaining and maintaining compliance with governmental approvals. regulations for new and existing products. Important risks may be discussed in current and subsequent filings with the SEC. You should not place undue reliance on any forward-looking statements. These statements speak only as of the date they are made, and we undertake no obligation to update them publicly in light of new information or future events.