Business Acquisitions and Assets and Liabilities Held for Sale

6 Months Ended

Jun. 30, 2020

Business Combinations [Abstract]

Business Acquisitions and Assets and Liabilities Held for Sale

Business Acquisitions

Roper completed two business acquisitions in the six months ended June 30, 2020, with an aggregate purchase price of $150.0, net of cash acquired and debt assumed. The results of operations of the acquired businesses are included in Roper’s Condensed Consolidated Financial Statements since the date of each acquisition. Supplemental pro forma information has not been provided as the acquisitions did not have a material impact on Roper’s Condensed Consolidated Results of Operations individually or in aggregate.

On June 9, 2020, Roper acquired substantially all of the assets of Freight Market Intelligence Consortium (“FMIC”), a leading provider of subscription-based freight transaction benchmarking and analysis service. FMIC is integrating into our DAT business and its results are reported in the Network Software & Systems reportable segment.

On June 15, 2020, Roper acquired substantially all of the assets of Team TSI Corporation (“Team TSI”), a leading provider of subscription-based data analytics serving long term health care facilities. Team TSI is integrating into our SHP business and its results are reported in the Network Software & Systems reportable segment.

The Company recorded $80.5 in goodwill and $70.2 of other identifiable intangibles in connection with the acquisitions; however, purchase price allocations remain preliminary. The amortizable intangible assets include customer relationships of $62.9 (15 year weighted average useful life) and technology of $7.3 (5 year weighted average useful life).