logo
Plus   Neg
Share
Email

Roper Technologies To Buy IPipeline For $1.625 Bln In Cash - Quick Facts

Diversified technology company Roper Technologies, Inc. (ROP) agreed Thursday to acquire iPipeline in an all-cash transaction valued at $1.625 billion. iPipeline is a leading provider of cloud-based software solutions for the life insurance industry.

iPipeline's suite of SaaS-based applications provides workflow automation and seamless integration across a broad network of approximately 150 carriers, 1,350 distributors, and over 500,000 agents.

"The iPipeline transaction demonstrates our disciplined capital deployment strategy by acquiring another high-quality business that will help grow and compound our cash flow," said Neil Hunn, Roper's President and CEO.

Roper anticipates funding the transaction using its revolving credit facility and cash on hand. iPipeline is expected to contribute approximately $200 million of revenue and $70 million of after-tax free cash flow in 2020, excluding the impact of fair value accounting for deferred revenue and financing costs.

Roper expects the acquisition to be immediately cash accretive and deliver high single digit organic revenue growth.

The transaction is expected to close in the third quarter, subject to regulatory approval and customary closing conditions

The iPipeline management team, led by newly appointed CEO Larry Berran, will continue to manage the business from its Exton, Pennsylvania-based headquarters. iPipeline's name and brands are not expected to change as a result of the transaction.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Beverages giant Coca Cola said it has no plans to abandon single-use plastic bottles as its consumers still want to use them. Bea Perez, Coca-Cola's senior vice president for sustainability, told the BBC at the World Economic Forum in Davos that consumers like the single-use plastic bottles as they reseal and are lightweight. The Procter & Gamble Company (PG) reported that its second-quarter core earnings per share rose 14 percent year-on-year, due to lower non-core restructuring charges versus the prior year. Currency-neutral core earnings per share increased 15 percent. Organic sales were up five percent, for the quarter.... While reporting financial results for the fourth quarter on Thursday, JetBlue Airways Corp. (JBLU) provided its financial outlook for the first quarter and the full-year 2020. For the first quarter, the company expects earnings in a range of $0.10 to $0.20 per share. Capacity is expected to increase...
RELATED NEWS
Follow RTT
>