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Sarasota, Florida, October 8, 2015 … Roper Technologies, Inc. (NYSE: ROP) today announced that it has entered into a definitive agreement to acquire Aderant Holdings, Inc., in a transaction valued at $675 million, net of $20 million in cash tax benefits. Roper expects the acquisition to be immediately cash accretive and to generate approximately $125 million of revenue in 2016.
Aderant is a global provider of comprehensive business management software for legal and other professional services firms. Aderant supports over 3,000 clients in more than 30 countries, representing 77 of the top 100 global law firms and more than 88 percent of the Am Law 200. The management team, led by Chris Giglio, will continue to lead the business from its Atlanta, Georgia headquarters. The business will continue to operate as Aderant, marketing its software and services under current brand names.
“We are excited to acquire another leading application software business,” said Brian Jellison, Roper’s Chairman, President and CEO. “Aderant is the technology leader in its niche market with a broad suite of software solutions for law firms and a history of delivering value and high customer satisfaction. We look forward to working with Chris and the leadership team to continue to enhance the value of Aderant by expanding its client base and continuing to deliver new and innovative products and services.”
Completion of the transaction is expected within 30 days, subject to regulatory approval and customary closing conditions.
About Roper Technologies
Roper Technologies is a constituent of the S&P 500, Fortune 1000, and the Russell 1000 indices. Roper designs and develops software (both software-as-a-service and licensed), and engineered products and solutions for healthcare, transportation, food, energy, water, education and other niche markets worldwide. Additional information about Roper is available on the company’s website at www.ropertech.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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