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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.

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