Roper Technologies, announced that it has entered into a definitive agreement to acquire Transact Campus, for a net purchase price of US$1.5 billion, including a US$100 million tax benefit resulting from the transaction. The net purchase price represents approximately 14 times expected 2025 EBITDA. Transact is an award-winning provider of innovative campus technology and payment solutions, offering a comprehensive suite of services, including campus ID software and secure access, tuition and fees software and payment processing, as well as 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, a provider of foodservice, nutrition, access and security, and campus commerce solutions for acute healthcare and senior living facilities, higher education institutions and K-12 school districts.
“Transact is an excellent business that meets all of our acquisition criteria, including mission critical solutions, strong customer retention and excellent cash conversion,” said Neil Hunn, Roper Technologies’ President and CEO. “This is yet another example of Roper’s disciplined and process-driven acquisition approach.”
The combined business will utilise both the Transact and CBORD brand names and be led by Transact’s CEO, Nancy Langer, with CBORD’s CEO, Dan Park, serving as 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,” said Hunn. “The work Nancy and her leadership team have undertaken is very impressive, and we are excited to welcome them to the Roper family.”
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