Business Acquisitions

9 Months Ended

Sep. 30, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Business Acquisitions

Business Acquisitions

On February 26, 2024, Roper acquired Genesis Ultimate Holding Co., the parent company of Procare Software, LLC (“Procare”), a leading provider of cloud-based software and integrated payment processing for the management of early childhood education centers, for a purchase price of $1,860, net of cash acquired and certain liabilities assumed. Additionally, the purchase price contemplated a net present value tax benefit of approximately $110 which is expected to be utilized over the next 13 years. The results of Procare are reported in the Application Software reportable segment.

On August 20, 2024, Roper acquired RCP Vega Holdings, LLC, the parent company of Transact Campus Inc. (“Transact”), a leading provider of innovative campus technology and integrated payment solutions, including campus identity software and secure access, tuition and fees management software and payment processing, as well as point-of-sale campus commerce solutions. Roper’s acquisition of Transact was for a purchase price of $1,607, net of cash acquired and certain liabilities assumed. Additionally, the purchase price contemplated a net present value tax benefit of approximately $100 which is expected to be utilized over the next 14 years. This acquisition is being integrated with our CBORD business and its results are reported in the Application Software reportable segment.

The Company recorded $2,158.5 in goodwill, $80.0 assigned to trade names that are not subject to amortization, and $1,467.0 of other identifiable intangibles in connection with 2024 acquisitions. The amortizable intangible assets include customer relationships of $1,364.0 (19 year weighted average useful life) and technology of $103.0 (5.5 year weighted average useful life).

The results of operations of the acquired businesses are included in Roper’s Condensed Consolidated Financial Statements from the date of each acquisition. Pro forma results of operations and the revenues and net earnings subsequent to each acquisition date have not been presented because the effects of the acquisitions, individually and in the aggregate, were not material to our financial results.