Roper Technologies Completes Acquisition of Vertafore

Rhea-AI Summary

Roper Technologies, Inc. (NYSE: ROP) has successfully completed the acquisition of Vertafore, a leading provider of SaaS solutions for the property and casualty insurance sector. The acquisition was funded through a combination of cash, revolving credit, and new debt, enhancing Roper's portfolio within the insurance technology space. Vertafore serves over 20,000 agencies and more than 1,000 carriers, streamlining workflows and improving efficiency for professionals across North America.

Positive

• Acquisition of Vertafore enhances Roper's technology portfolio in the insurance sector.
• Vertafore serves over 20,000 agencies and 1,000 carriers, indicating strong market presence.
• Potential for increased revenue and operational synergies from the acquisition.

Negative

• Funding through debt may increase Roper's financial obligations.
• Integration challenges could arise post-acquisition affecting operational focus.

SARASOTA, Fla., Sept. 03, 2020 (GLOBE NEWSWIRE) -- Roper Technologies, Inc. (NYSE: ROP), a leading diversified technology company, today announced that it has completed its previously announced acquisition of Vertafore. Roper funded the transaction using its cash on hand, revolving credit facility, and new debt. Vertafore is a leading provider of SaaS solutions for the property and casualty insurance industry.

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 Vertafore

For 50 years, Vertafore, the leader in modern insurance technology, has built and supported superior Insurtech solutions to connect every point of the distribution channel. Vertafore’s agency management, ratings, regulation, compliance, data and analytics, and connectivity products streamline workflows, improve efficiency and drive productivity for more North American insurance professionals than any other provider – including more than 20,000 agencies, over 1,000 carriers and 23 state governments. Through a continual focus on operational excellence, development of innovative solutions, and alignment with key industry partners, Vertafore is leading the way for customers of all sizes by delivering results that make a difference. For more information about Vertafore, visit www.vertafore.com.

Contact Information: Investor Relations 941-556-2601 investor-relations@ropertech.com

 

FAQ

What is the purpose of Roper's acquisition of Vertafore?

The acquisition aims to enhance Roper's offerings in the insurance technology sector.

How did Roper fund the Vertafore acquisition?

Roper funded the acquisition using cash on hand, a revolving credit facility, and new debt.

What impact will the Vertafore acquisition have on Roper's business?

The acquisition is expected to increase revenue and operational efficiencies in the insurance technology market.

When was the acquisition of Vertafore completed?

The acquisition was completed on September 3, 2020.

What services does Vertafore provide?

Vertafore offers SaaS solutions for agency management, compliance, data analytics, and more in the insurance industry.