Roper Technologies to acquire Vertafore

Roper Technologies, a diversified technology company, announced that it has reached a definitive agreement to acquire Vertafore in an all-cash transaction valued at approximately $5.35 billion.

Vertafore’s cloud-based software, which is used by more than 20,000 agencies and 1,000 carriers, provides agency management, compliance, workflow, and data solutions that simplify and automate the property and casualty insurance lifecycle.

“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, longterm cash flow compounding. We look forward to welcoming Vertafore to the Roper family.” – Neil Hunn, Roper’s President and CEO.

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

The news follows Roper’s acquisition of iPipeline, a provider of cloud-based software solutions for the life insurance and financial services industry.