By Denny Jacob
Roper Technologies agreed to acquire Procare Solutions for about $1.75 billion.
The technology company said it expects to fund the deal using its revolving credit facility. The transaction is expected to close later this quarter.
Procare, a cloud-based software provider for the management of early childhood education centers, is expected to contribute about $260 million of revenue and $95 million of earnings before interest, taxes, depreciation and amortization for the 12 months ending March 31, 2025. The transaction is expected to be accretive to Roper’s 2024 free cash flow and 2024 adjusted earnings per-share.
Procure’s management team will continue to lead the business from its headquarters in Denver, Colo. Its name, brands and office locations won’t change as a result of the acquisition, Roper said.
“This acquisition demonstrates Roper’s disciplined capital deployment strategy that focuses on identifying high-quality, market-leading technology businesses that will enhance Roper’s long-term cash flow compounding,” said Chief Executive Neil Hunn.
Write to Denny Jacob at [email protected]
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