Roper Technologies acquires Frontline Education

Roper Technologies acquired Frontline Education for approximately $3.725 billion, a transaction completed in October 2022, structured as all cash.

Frontline Education operates in Application Software (K-12 education), is based in Malvern, Pennsylvania. Frontline Education provides a connected platform of cloud-based administrative software purpose-built for K-12 education, spanning human capital management, business operations management, student management, and analytics used by more than 10,000 educational organizations. Roper acquired Frontline to add a leading vertical software business with durable recurring revenue. The all-cash transaction was valued at approximately $3.725 billion (about $3.375 billion net of a tax benefit, roughly 19 times estimated 2023 EBITDA) and closed on October 4, 2022, with the management team continuing to lead the business from Malvern, Pennsylvania.

Frontline is a terrific business with clear niche market leadership, a proven track record of strong organic and inorganic growth, excellent cash conversion, and an outstanding management team that will thrive as part of Roper. The acquisition of Frontline demonstrates Roper's disciplined capital deployment strategy that focuses on identifying high-quality, market-leading technology businesses that will enhance Roper's cash flow compounding.Neil Hunn, Roper's President and CEO

Advisory firms were not disclosed for this transaction.

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