Roper Technologies to Acquire PowerPlan, Leading Provider of Software and Solutions for Financial and Compliance Management

Roper Technologies to Acquire PowerPlan, Leading Provider of Software and Solutions for Financial and Compliance Management

Sarasota, Florida, May 21, 2018 ... Roper Technologies, Inc. (NYSE: ROP), a diversified technology company, today announced that it has reached a definitive agreement to acquire PowerPlan in an all-cash transaction valued at $1.1 billion. PowerPlan is a leading provider of software and solutions for asset-centric companies, enabling its customers to optimize their financial performance and achieve regulatory compliance.

PowerPlan’s award-winning software platform integrates highly detailed financial and operational data to help enhance operational efficiency, minimize tax obligations, improve cash flow, and mitigate compliance risk. This comprehensive software solution delivers insight into the impact of complex rules and regulations on areas such as lease accounting, income and property tax provisions, and capital planning, enabling customers to make decisions that improve financial performance.

“We are excited to add another industry-leading, niche application software business to our family,” said Brian Jellison, Roper’s Chairman, President, and CEO. “The PowerPlan transaction demonstrates our disciplined capital deployment strategy, which results in the acquisition of high performing, niche businesses that grow and compound our cash flow.”

Neil Hunn, Roper’s Executive Vice President and Chief Operating Officer, noted, “PowerPlan provides the technology backbone enabling its customers to get the enhanced financial, tax, and operational information they need to improve financial performance. We look forward to working with PowerPlan’s leadership team to continue to grow their innovative product suite, loyal customer base, and strong cash profile.”

PowerPlan will continue to manage the business from its Atlanta, Georgia headquarters. PowerPlan’s name and brands are not expected to change as a result of the transaction. 

PowerPlan is currently an investment of private equity firm Thoma Bravo.

Acquisition Financing and Financial Outlook

During the first 12 months of ownership, Roper expects PowerPlan to deliver approximately $150 million of revenue and $60 million of after-tax free cash flow, excluding the impact of fair value accounting for PowerPlan’s deferred revenue and financing costs. Roper anticipates funding the transaction using its revolving credit facility and cash on hand, and expects the acquisition to be immediately cash accretive. PowerPlan has a strong history of growth in revenue, EBITDA, and cash flow, which Roper expects to continue.

The transaction is expected to close in the second quarter, 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 operates businesses that design and develop software (both license and software-as-a-service) and engineered products and solutions for a variety of niche end markets. Additional information about Roper is available on the Company’s website at www.ropertech.com

About PowerPlan

PowerPlan software provides financial insight into how complex rules and regulations impact your organization – empowering you to make credible decisions that improve overall corporate performance. The integrated solution provides complete visibility starting with forecasting and monitoring to scenario planning and analytics while maintaining financial compliance. For more information, email info@powerplan.com or visit www.powerplan.com.

The information provided in this press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements may 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, profit and cash flow expectations.  Forward-looking statements may be indicated by words or phrases such as "anticipate," "estimate," "plans," "expects," "projects," "should," "will," "believes," "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 identify and complete acquisitions consistent with our business strategies, integrate acquisitions that have been completed, realize expected benefits and synergies from, and manage other risks associated with, the newly acquired businesses. We also face other general risks, including our ability to realize cost savings from our operating initiatives, general economic conditions and the conditions of the specific markets in which we operate, changes in foreign exchange rates, difficulties associated with exports, risks associated with our international operations, 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, 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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