Lakewood Ranch tech conglomerate makes $1.6B acquisition

Lakewood Ranch-based Roper Technologies has entered into an agreement to acquire Transact Campus, a campus technology company, for a net purchase price of $1.5 billion with a $100 million tax benefit resulting from the transaction.

Transact Campus is expected to contribute about $325 million in revenue in 2025, according to a statement from Roper Technologies, which says the company anticipates Transact will deliver high single-digit organic revenue growth over the long term.

Roper Technologies, a software and technology company that posted $6.18 billion in revenue in 2023, deployed $2.1 billion of its capital last year toward acquisitions.

“Transact is an excellent business that meets all of our acquisition criteria, including mission critical solutions, strong customer retention and excellent cash conversion,” Roper Technologies President and CEO Neil Hunn says in a statement. “This is yet another example of Roper’s disciplined and process-driven acquisition approach.”

Transact Campus provides technology solutions for services like campus IDs, tuition payment and point-of-sale processing for more than 1,940 clients, including higher education institutions, health care facilities and corporate campuses.

Transact will be combined with CBORD, another Roper entity that provides software for credentialing, food service and commerce solutions across educational, health care and business campuses. More than 10,000 organizations use CBORD.

Once combined, the business will use both the Transact and CBORD brand names, according to a statement, which says Transact CEO Nancy Langer will lead the business, with CBORD’s CEO Dan Park serving as the chief operating officer.

“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,” Hunn says in the statement. “The work Nancy and her leadership team have undertaken is very impressive, and we are excited to welcome them to the Roper family.”

Reverence Capital Partners, which acquired Transact Campus in 2019 from Blackboard and has since held a majority stake in the company, agreed to sell its stake to Roper.

The acquisition is expected to close in the third quarter, according to a statement from Transact Campus and Reverence Capital Partners.

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