Roper Technologies Reached an Agreement to Acquire Vertafore, for Approx. $5.35 Billion

By CIO Applications| Monday, August 24, 2020

Vertafore offers a cloud-based software featuring agency management, workflow, compliance, and data solutions that automate and simplify the complex property and casualty (“P&C”) insurance lifecycle. Over 20,000 agencies and 1,000 insurance carriers use it to streamline their processes, drive productivity, and improve efficiency

FREMONT, CA: Roper Technologies, a diversified technology company, reached an agreement to acquire Vertafore, in an all-cash transaction valued at approximately $5.35 billion.

The transaction is supposed to close in the third quarter, subject to customary closing conditions and regulatory approval.

The Vertafore management team, led by CEO Amy Zupon, would continue to lead the business from its Denver, Colorado headquarters. Vertafore’s brands, name, and office locations will not change as a result of the transaction.

Vertafore offers a cloud-based software featuring agency management, workflow, compliance, and data solutions that automate and simplify the complex property and casualty (“P&C”) insurance lifecycle. Over 20,000 agencies and 1,000 insurance carriers use it to streamline their processes, drive productivity, and improve efficiency.

Vertafore is expected to contribute approximately $590 million of revenue and $290 million of EBITDA in 2021.

Led by Neil Hunn, President and CEO, Roper Technologies operates businesses that design and develop software (both license and software-as-a-service) and engineered products and solutions for various niche end markets.

“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,” stated Neil Hunn, Roper president and CEO. “The acquisition of Vertafore is a great example of our disciplined capital deployment strategy which focuses on durable, long-term cash flow compounding.”

J.P. Morgan and Wells Fargo Securities were the financial advisors to Roper on this transaction.