Roper Technologies acquired Neptune Technology Group for approximately $475 million, a transaction completed in December 2003, structured as all cash.
Neptune Technology Group operates in Industrial Technology (water/utility metering), had revenue of about $195-$205 million of net sales and $57-$60 million of EBITDA expected in 2003. 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.
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
Advisory firms were not disclosed for this transaction.