Roper Technologies announced today that it has entered into a definitive agreement to acquire Transact Campus for a net purchase price of $1.5 billion. This includes a $100 million tax benefit resulting from the transaction.
The net purchase price represents approximately 14 times the expected 2025 EBITDA. Transact is an award-winning provider of innovative campus technology and payment solutions. It offers a comprehensive suite of services, including campus ID software and secure access, tuition and fees software and payment processing, and point-of-sale campus commerce solutions. Transact serves higher education institutions, healthcare facilities, and corporate campuses.
Transact will be combined with Roper’s CBORD business, which is a provider of food service, nutrition, access and security, and campus commerce solutions for acute healthcare and senior living facilities, higher education institutions, and K-12 school districts.
The combined business will utilize both the Transact and CBORD brand names, and it will be led by Transact’s CEO, Nancy Langer, with CBORD’s CEO, Dan Park, serving as Chief Operating Officer.
The deal is scheduled to close in the immediate future, and Roper will fund the acquisition using its cash on hand and revolving credit facility.
Transact is expected to contribute about $325 million of revenue and $105 million of EBITDA in 2025, including cost synergies across the combined enterprise. Roper expects Transact to deliver long-term high single-digit organic revenue growth.
KEY QUOTES:
“Transact is an excellent business that meets all of our acquisition criteria, including mission critical solutions, strong customer retention, and excellent cash conversion. This is yet another example of Roper’s disciplined and process-driven acquisition approach.”
“Bringing together Transact and CBORD and leveraging each business’s unique core competencies will expand and accelerate the innovation they will bring to their customers. The work Nancy and her leadership team have undertaken is very impressive, and we are excited to welcome them to the Roper family.”
- Neil Hunn, Roper Technologies’ President and CEO
