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Sarasota, Florida, February 5, 2015 … Roper Industries, Inc. (NYSE: ROP) today announced that it has entered into definitive agreements to acquire two medical software companies: Data Innovations, LLC and SoftWriters, Inc.
Data Innovations is a leading provider of middleware software for hospital and reference laboratories on a global basis. Data Innovations has the world’s largest library of proprietary interfaces and drivers that support over 1,000 different lab instruments in over 80 countries serving over 4,500 customers. Data Innovations will work closely with our Sunquest business. The management team, led by Mike Epplen, will remain in place and continue to lead the business from its Burlington, VT headquarters.
SoftWriters is a leading provider of operating software and solutions for long-term care pharmacies. SoftWriters’ flexible, customized software solutions are created specifically for the unique processes of long-term care, closed-door and specialty pharmacies. SoftWriters will work closely with our MHA business. The management team, led by Tim Hutchison, will remain in place and continue to lead the business from its Pittsburgh, PA headquarters.
“Both Data Innovations and SoftWriters have market-leading technology and terrific leadership teams,” said Brian Jellison, Roper’s Chairman, President and CEO. “We welcome these two outstanding and strategic businesses to the Roper family.”
“Data Innovations and SoftWriters will be excellent building blocks in our growing medical platform,” added Neil Hunn, Group Vice President for Roper’s Medical businesses, “Data Innovations advances Sunquest’s interoperability strategy and builds on our leadership position in the laboratory software space. SoftWriters adds to MHA’s considerable presence in the long-term care pharmacy market.”
Both acquisitions are expected to close in February, subject to regulatory approval and customary closing conditions. The combined purchase price for these two acquisitions is $450 million. Including the previously announced acquisition of Strata Decision Technology, Roper will have invested $590 million in these three acquisitions. The Company expects the three acquisitions to contribute approximately $100 million of annual revenue and provide over $110 million of gross cash tax benefits.
About Roper Industries
Roper Industries is a diversified technology company and is a constituent of the S&P 500, Fortune 1000, and the Russell 1000 indices. Roper provides engineered products and solutions for global niche markets, including software information networks, medical, water, energy, and transportation. Additional information about Roper is available on the company’s website at www.roperind.com.
The information provided in this press release contains forward looking statements within the meaning of the federal securities laws. These forward looking statements include, among others, statements regarding operating results, the success of our internal operating plans, and the prospects for newly acquired businesses to be integrated and contribute to future growth and profit expectations. Forward looking statements may be indicated by words or phrases such as "anticipate," "estimate," "plans," "expects," "projects," "should," "will," "believes" or "intends" 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 integrate our acquisitions and realize expected synergies. We also face other general risks, including our ability to realize cost savings from our operating initiatives, general economic conditions, unfavorable changes in foreign exchange rates, difficulties associated with exports, risks associated with our international operations, difficulties in making and integrating acquisitions, risks associated with newly acquired businesses, increased product liability and insurance costs, increased warranty exposure, future competition, changes in the supply of, or price for, parts and components, environmental compliance costs and liabilities, risks and cost associated with asbestos related litigation and potential write-offs of our substantial intangible assets, and risks associated with obtaining governmental approvals and maintaining regulatory compliance 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 publicly any of them in light of new information or future events.
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