M&A Deal Summary

Roper Technologies Acquires Frontline Education

On August 30, 2022, Roper Technologies acquired internet software and services company Frontline Education from Thoma Bravo for 3.7B USD

Acquisition Highlights
  • This is Roper Technologies’ 3rd transaction in the Internet Software and Services sector.
  • This is Roper Technologies’ 2nd largest (disclosed) transaction.
  • This is Roper Technologies’ 29th transaction in the United States.
  • This is Roper Technologies’ 4th transaction in Pennsylvania.

M&A Deal Summary
Date 2022-08-30
Target Frontline Education
Sector Internet Software and Services
Buyer(s) Roper Technologies
Sellers(s) Thoma Bravo
Deal Type Add-on Acquisition
Deal Value 3.7B USD

Target

Frontline Education

Malvern, Pennsylvania, United States
website
Frontline Education is a provider of cloud-based K-12 software that empowers more than 7,500 school districts and millions of educators to positively impact student learning. Frontline Education was founded in 1998 and is based in Malvern, Pennsylvania.

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Buyer(S) 1

Buyer

Roper Technologies

Sarasota, Florida, United States

website

Category Company
Founded 1981
Sector Information Technology
Employees18,400
Revenue 5.4B USD (2022)
DESCRIPTION

Roper Technologies is a diversified technology company. Roper designs and develops software (both software-as-a-service and licensed), and engineered products and solutions for healthcare, transportation, food, energy, water, education and other niche markets worldwide. Roper Technologies was founded in 1981 and is based in Sarasota, Florida.

DEAL STATS #
Overall 34 of 36
Sector (Internet Software and Services) 3 of 3
Type (Add-on Acquisition) 34 of 36
State (Pennsylvania) 4 of 4
Country (United States) 29 of 31
Year (2022) 1 of 1
Size (of disclosed) 2 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-22 Civco Radiotherapy

Orange City, Iowa, United States

Civco Radiotherapy is focused on developing, manufacturing, and providing high-quality, innovative, patient-centric solutions in radiotherapy. These solutions include advanced patient immobilization and positioning hardware and consumables, fiducial markers, couchtops and overlays, software, patient care products, and advanced 6DOF robotic patient positioning. Civco Radiotherapy was formed in 1982 and is based in Orange City, Iowa.

Sell $120M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-08 Syntellis

Chicago, Illinois, United States

Syntellis provides innovative enterprise performance management software, data, and analytics solutions for healthcare, higher education, and financial institutions. Syntellis’ solutions include Axiom and Connected Analytics software, which help finance professionals elevate performance by acquiring insights, accelerating decisions, and advancing their business plans. Syntellis was formed in 2020 and is based in Chicago, Illinois.

Buy $1.3B

Seller(S) 1

SELLER

Thoma Bravo

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1980
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thoma Bravo is a private equity firm that primarily invests in or acquires US-based middle-market businesses. While Thoma Bravo will consider a variety of transaction situations, including take-privates, buyouts, carve-outs, recapitalizations, and growth equity financings, the Firm has a special interest in tech consolidation opportunities. Target companies generally have a history of profitability with EBITDA of at least $20 million. The Firm's equity commitment size range is $100 to $750 million. Sectors of interest include enterprise and infrastructure software, education, distribution, financial services and consumer goods/services. The Firm will not invest in new inventions or technologies, developmental products or services, start-ups, biotech, motion pictures, distressed businesses, oil/gas, or real estate. Thoma Bravo was formerly known as Thoma Cressey Bravo and before that Golder Thoma & Co. The Firm was originally formed in 1980 and is based in Chicago, Illinois.

DEAL STATS #
Overall 65 of 72
Sector (Internet Software and Services) 7 of 9
Type (Add-on Acquisition) 29 of 33
State (Pennsylvania) 5 of 5
Country (United States) 62 of 67
Year (2022) 4 of 6
Size (of disclosed) 3 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-03 Ping Identity

Denver, Colorado, United States

Ping Identity engages in Identity Defined Security for the borderless enterprise, allowing employees, customers, and partners access to the applications they need. Protecting over one billion identities worldwide, the company ensures the right people access the right things, securely and seamlessly. More than half of the Fortune 100, including Boeing, Cisco, Disney, GE, Kraft Foods, TIAA-CREF, and Walgreens, trust Ping Identity to solve modern enterprise security challenges created by their use of cloud, mobile, APIs, and IoT. Ping Identity was formed in 2016 and is based in Denver, Colorado.

Buy $2.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-04 Condeco Software

London, United Kingdom

Condeco Software is a provider of integrated hardware and software solutions which are designed to give companies all the tools they need to make the most of their workplaces, will now offer a combined platform which simplifies the process of video collaboration. Condeco Software was founded in 2005 and is based in London.

Sell -
Mergr

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