Business Acquisitions |
6 Months Ended |
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Jun. 30, 2025 | |
| Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] | |
| Business Acquisitions | Business Acquisitions On April 23, 2025, Roper acquired CentralReach Holdings, LLC (“CentralReach”) for a purchase price of $1,850, net of cash acquired and certain liabilities assumed. The purchase price contemplates a net present value tax benefit of approximately $200 which is expected to be utilized over the subsequent 15 years. CentralReach is a leading provider of cloud-based software and artificial intelligence-enabled solutions enabling the workflow and administration of applied behavior analysis (ABA) therapy for autism spectrum disorder (ASD) and related disabilities care. The transaction was funded using borrowings under Roper’s unsecured revolving credit facility. The results of CentralReach are reported in the Application Software reportable segment. The Company recorded $1,049.0 in goodwill, $48.0 assigned to trade names that are not subject to amortization, and $842.0 of other identifiable intangibles in connection with the CentralReach acquisition. The amortizable intangible assets include customer relationships of $776.0 (19 year useful life) and technology of $66.0 (6 year useful life). Net assets acquired also include approximately $89 of net deferred tax liabilities, primarily attributable to acquired intangible assets, partially offset by federal tax attributes. Approximately $590 of goodwill is expected to be deductible for income tax purposes. During the six months ended June 30, 2025, Roper completed two bolt-on acquisitions (Muni-Link and Outgo) for purchase prices totaling $157.4, net of cash acquired and certain liabilities assumed. On February 19, 2025, Roper acquired substantially all of the assets of Muni-Link for a purchase price of $118.0, which contemplates a net present value tax benefit of approximately $20. Muni-Link is a leading provider of cloud-based utility management, billing, and customer communication software solutions for municipalities and other local governments. This acquisition has been integrated into our Neptune business and its results are reported in the Technology Enabled Products reportable segment. On May 15, 2025, Roper acquired Outgo Inc. (“Outgo”) for a purchase price of $39.4, net of cash acquired and certain liabilities assumed. The purchase price includes $7.3 of equity consideration in the form of common shares transferred from Roper’s treasury stock, measured at fair value. Outgo is a provider of cloud-based freight payment software and artificial intelligence-enabled factoring solutions that automate invoicing, underwriting, payments, and collections for commercial trucking. This acquisition has been integrated into our DAT business and its results are reported in the Network Software reportable segment. The Company recorded $92.6 in goodwill and $56.5 of other identifiable intangibles in connection with these two bolt-on acquisitions. The amortizable intangible assets include customer relationships of $51.8 (17.0 year weighted average useful life) and technology of $4.7 (5.0 year weighted average useful life). Approximately $74 of goodwill is expected to be deductible for income tax purposes. 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. On July 25, 2025, Roper acquired Subsplash TopCo, LLC (“Subsplash”) for a purchase price of approximately $800. Subsplash is a leading provider of artificial-intelligence enabled, cloud-based software providing digital engagement, church management, and integrated giving solutions for faith-based organizations. The results of Subsplash will be reported in the Network Software reportable segment beginning in the third quarter of 2025. On July 28, 2025, Roper acquired Brickyard Topco, Inc. (“Orchard Software”) for a purchase price of approximately $175. Orchard Software is a provider of laboratory information management systems for hospitals, reference labs, physician groups, and public health entities. This acquisition is being integrated into our Clinisys business and its results will be reported in the Application Software reportable segment beginning in the third quarter of 2025. On July 30, 2025, Roper acquired Flexport Freight Tech LLC (“Convoy”) for a purchase price of approximately $250, which contemplates a net present value tax benefit of approximately $41. Convoy is a leading provider of automated load management and digital freight-matching technology, matching trusted brokers and carriers for commercial trucking. This acquisition is integrating into our DAT business and its results will be reported in the Network Software reportable segment beginning in the third quarter of 2025.
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