Deal Timeline

Plotted by close date where disclosed, otherwise announcement. Select any marker to jump to the deal entry.

The Rationale That Repeats.

Three patterns show up across Roper's deal book — what the team buys, how it pays, and how it integrates. The patterns are the throughline; the deals below are the evidence.

01
Acquisition criteria
Niche market leadership is the screening test.
Roper's announcements repeatedly describe targets as having clear niche market leadership, strong organic growth, and excellent cash conversion — the language used for Frontline ("a terrific business with clear niche market leadership"), Vertafore ("clear leadership in its niche market"), and iPipeline. Roper buys businesses ranked at or near the top of deliberately narrow verticals — K-12 administration (Frontline), P&C insurance distribution (Vertafore), government-contractor ERP (Deltek), life insurance (iPipeline), ABA therapy (CentralReach) — rather than broad horizontals where it would compete on scale.
Neptune Technology GroupTransCoreCBORD GroupiTradeNetworkSunquest Info Systems
02
Capital deployment
Cash-flow compounding over cost synergies.
Roper's deal commentary emphasizes durable, long-term cash-flow compounding and disciplined capital deployment rather than headcount or facility synergy targets. CEO Neil Hunn framed both Vertafore and Frontline as examples of a "disciplined capital deployment strategy which focuses on durable, long-term cash flow compounding." Targets are bought for their standalone economics — high retention, recurring SaaS revenue, low capital intensity — and left to run rather than restructured.
Neptune Technology GroupTransCoreCBORD GroupiTradeNetworkSunquest Info Systems
03
Integration approach
Acquire-and-hold, integrate-by-tucking-in.
Larger platforms (Vertafore, Deltek, CBORD, Strata, DAT) become homes for later bolt-ons: Surefyre tucks into Vertafore; Replicon and ProPricer into Deltek; Transact into CBORD; Syntellis into Strata; Trucker Tools, Outgo and Convoy into DAT. Acquired brands, management teams, and headquarters generally remain in place — Roper retains the operating units and compounds cash flow across a decentralized portfolio of segment-reported software and technology businesses.
Neptune Technology GroupTransCoreCBORD GroupiTradeNetworkSunquest Info Systems

The Full Deal Book

20 acquisitions. Each entry carries the deal value, financing structure, target revenue, executive commentary, and the original SEC filing — the evidence behind the patterns above.

01 Neptune Technology Group $475M
Announced Oct 2003 Closed Dec 2003 all cash

Neptune Technology Group Holdings Inc. — water and utility metering products and automatic meter reading systems; acquired from Investcorp together with DAP Technologies and DB Microware. approximately $475 million.

These businesses are an excellent strategic fit with Roper and will be accretive to our EBITDA margins, cash flow and net sales growth,&Brian Jellison — President and Chief Executive Officer of Roper
Due to a growing focus on customer service, pricing, and conservation, utilities have a rapidly growing need to measure consumption of resources more frequently, accurately, and efficiently,&Mr. Jellison
02 TransCore Holdings · Hummelstown, Pennsylvania $600M
Announced Oct 2004 Closed Dec 2004 all cash
03 CBORD Group $367M
Announced Feb 2008 Closed Feb 2008 all cash
04 iTradeNetwork · Pleasanton, California $525M
Announced Jul 2010 Closed Jul 2010 all cash
05 Sunquest Information Systems · Tucson, Arizona $1.415B
Announced Jul 2012 Closed Aug 2012 all cash
06 Managed Health Care Associates · Florham Park, New Jersey $1.0B
Announced Apr 2013 Closed Jun 2013 all cash
07 ConstructConnect · Cincinnati, Ohio $632M
Announced Oct 2016 Closed Oct 2016 all cash

iSqFt Holdings Inc. (d/b/a ConstructConnect) — a provider of cloud-based data, collaboration, and workflow automation solutions to the commercial construction industry, operating the largest cloud-based network for collaboration across the pre-construction process. approximately $632 million.

Why it was attractive
  • SaaS
ConstructConnect has created the largest cloud-based network for collaboration between participants in the commercial construction industry. Its solutions facilitate the pre-construction process from opportunity identification through project award, driving efficiency and creating revenue opportunities for its users.Brian Jellison — Chairman, President and CEO, Roper Technologies
08 Deltek · Herndon, Virginia (serving 22,000 organizations in over 80 countries) $2.8B
Announced Dec 2016 Closed Dec 2016 all cash
We are excited to announce Deltek as our next great software business,&Brian Jellison
09 iPipeline · Exton, Pennsylvania $1.625B
Announced Aug 2019 Closed Aug 2019 all cash
The iPipeline transaction demonstrates our disciplined capital deployment strategy by acquiring another high-quality business that will help grow and compound our cash flow.Neil Hunn — Roper's President and CEO
10 Vertafore · Denver, Colorado $5.35B
Announced Aug 2020 Closed Sep 2020 all cash
Vertafore is a fantastic business characterized by clear leadership in its niche market, a strong management team, high customer retention, and a long track record of consistent revenue and cash flow growth. The acquisition of Vertafore is a great example of our disciplined capital deployment strategy which focuses on durable, long-term cash flow compounding. We look forward to welcoming Vertafore to the Roper family.Neil Hunn — Roper's President and CEO
11 Frontline Education · Malvern, Pennsylvania $3.725B
Announced Aug 2022 Closed Oct 2022 all cash
Frontline is a terrific business with clear niche market leadership, a proven track record of strong organic and inorganic growth, excellent cash conversion, and an outstanding management team that will thrive as part of Roper. The acquisition of Frontline demonstrates Roper's disciplined capital deployment strategy that focuses on identifying high-quality, market-leading technology businesses that will enhance Roper's cash flow compounding.Neil Hunn — Roper's President and CEO
12 Strata Decision Technology · Chicago $140M
Announced Jan 2015 Closed Jan 2015 all cash

Strata Decision Technology, LLC — a leading provider of cloud-based financial planning, decision support, and performance management software for healthcare providers; acquired January 21, 2015. approximately $140 million.

13 Foundry · London $544M
Announced Apr 2019 Closed Apr 2019 all cash
14 EPSi $365M
Announced Oct 2020 Closed Oct 2020 all cash
15 Syntellis Performance Solutions $1.381B
Announced Aug 2023 Closed Aug 2023 all cash

Leading provider of cloud-based performance management and data solutions for healthcare, financial institution, and higher education providers; integrated into Roper's Strata business. approximately $1.381 billion.

16 Replicon $447.5M
Announced Aug 2023 Closed Aug 2023 asset purchase

Provider of time-tracking software solutions for project- and services-centric organizations; integrated into Roper's Deltek business. approximately $447.5 million.

17 Procare Solutions · Denver, Colorado $1.860B
Announced Feb 2024 Closed Feb 2024 all cash

Genesis Ultimate Holding Co., parent of Procare Software, LLC — a leading provider of SaaS and integrated payment processing for the management of early childhood education centers. approximately $1.860 billion.

18 Transact Campus $1.607B
Announced Aug 2024 Closed Aug 2024 all cash

RCP Vega Holdings, LLC, parent of Transact Campus Inc. — a leading provider of integrated campus technology and payment solutions (campus identity, secure access, tuition/fees management, payment processing, point-of-sale commerce) serving higher education, healthcare, and business campuses; integrated with Roper's CBORD business. approximately $1.607 billion.

19 CentralReach $1.850B
Announced Apr 2025 Closed Apr 2025 all cash

CentralReach Holdings, LLC — a leading provider of SaaS and AI-enabled solutions enabling the workflow and administration of ABA therapy for ASD and related disabilities care. approximately $1.850 billion.

20 Subsplash $800M
Announced Jul 2025 Closed Jul 2025 all cash

Subsplash TopCo, LLC — a leading provider of AI-enabled SaaS providing digital engagement, church management, and integrated giving solutions for faith-based organizations. approximately $800 million.

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