M&A Deal Summary

Roper Technologies Acquires Vertafore

On August 13, 2020, Roper Technologies acquired software company Vertafore from Bain Capital Private Equity and Vista Equity Partners for 5.4B USD

Acquisition Highlights
  • This is Roper Technologies’ 13th transaction in the Software sector.
  • This is Roper Technologies’ largest (disclosed) transaction.
  • This is Roper Technologies’ 28th transaction in the United States.
  • This is Roper Technologies’ 1st transaction in Colorado.

M&A Deal Summary
Date 2020-08-13
Target Vertafore
Sector Software
Buyer(s) Roper Technologies
Sellers(s) Bain Capital Private Equity
Vista Equity Partners
Deal Type Add-on Acquisition
Deal Value 5.4B USD

Target

Vertafore

Denver, Colorado, United States
Vertafore, Inc. is a cloud-based software that provides agency management, compliance, workflow, and data solutions that simplify and automate the complex property and casualty (“P&C”) insurance lifecycle. More than 20,000 agencies and 1,000 insurance carriers rely on Vertafore to streamline their processes, improve efficiency, and drive productivity. Vertafore, Inc. was founded in 1969 and is based in Denver, Colorado.

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Buyer(S) 1

Buyer

Roper Technologies

Sarasota, Florida, United States
Category Company
Founded 1981
Sector Information Technology
Employees16,800
Revenue 6.2B USD (2023)
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 33 of 37
Sector (Software) 13 of 14
Type (Add-on Acquisition) 33 of 37
State (Colorado) 1 of 2
Country (United States) 28 of 32
Year (2020) 1 of 1
Size (of disclosed) 1 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-27 Gatan International

Pleasanton, California, United States

Gatan, Inc. is a manufacturer of instrumentation and software used to enhance and extend the operation and performance of electron microscopes. Gatan was founded in 1964 and is based in Pleasanton, California.

Sell $925M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-10 Zetec

Snoqualmie, Washington, United States

Zetec provides nondestructive testing (NDT) solutions for the critical inspection needs of industries the world counts on every day including Power Generation, Oil, and Gas, Aerospace, Automotive, Maritime, Military, Rail, and Manufacturing. The company has advanced NDT standards and science that protect customers’ most important assets and ensure the quality of their products, processes, and services. Zetec was formed in 1968 and is based in Snoqualmie, Washington.

Sell -

Seller(S) 2

SELLER

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.

DEAL STATS #
Overall 130 of 147
Sector (Software) 9 of 10
Type (Add-on Acquisition) 38 of 40
State (Colorado) 2 of 2
Country (United States) 79 of 85
Year (2020) 4 of 6
Size (of disclosed) 4 of 44
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-30 Cerevel

Cambridge, Massachusetts, United States

Cerevel is a biopharmaceutical company focused on developing drug candidates to treat disorders of the central nervous system (CNS). The company has a portfolio of pre-commercial neuroscience assets, which include three clinical-stage compounds and several pre-clinical compounds designed to target a broad range of CNS disorders including Parkinson’s, Alzheimer’s, epilepsy, schizophrenia, and addiction. Cerevel was formed in 2018 and headquartered in Cambridge, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-27 Nutanix

San Jose, California, United States

Nutanix provides an enterprise cloud platform that converges traditional silos of server, virtualization and storage into one integrated solution and can also connect to public cloud services. Nutanix was founded in 2009 and is based in San Jose, California.

Buy -
SELLER

Vista Equity Partners

Austin, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 100.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.

Vista Equity Partners is a mega-sized asset management firm focused on private equity, public equity, credit, and other strategies. The Firm's private equity group looks to invest in and acquire software and technology enabled services companies. Specific areas of interest include software, software-as-a-service (SaaS), technology-enabled business services, and technology-enabled information services. Vista can commit up to $700 million per transaction and will consider a variety transaction situations, including management/leveraged buyouts, growth or acquisition financings, recapitalizations or restructurings, spinouts, and take privates. Vista Equity Partners was formed in 2000 and is based in Austin, Texas.

DEAL STATS #
Overall 43 of 70
Sector (Software) 19 of 28
Type (Add-on Acquisition) 19 of 35
State (Colorado) 3 of 3
Country (United States) 40 of 65
Year (2020) 4 of 7
Size (of disclosed) 1 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-14 Jamf

Minneapolis, Minnesota, United States

Jamf is a provider of Apple device management software, including support for MacOS devices, iOS devices, and tvOS devices. The Company offers extensive functionality in package building, inventory, image management, remote imaging, remote updates, iOS mobile device management, and automated support. Jamf delivers support and service solutions to more than 38,000 customers at businesses, educational institutions, and government agencies. Jamf was formed in 2002 and is based in Minneapolis, Minnesota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-20 Datto

Norwalk, Connecticut, United States

Datto is a vendor of backup, disaster recovery (BDR), and intelligent business continuity (IBC) solutions, providing technology and support to its 5,000+ channel Partners throughout North America and Europe. Datto is the only hybrid-cloud BDR/IBC vendor that provides instant on- and off-site virtualization and screenshot backup verification, achieved through its Inverse Chain Technology. The Datto product line addresses the specific needs of small to medium-sized businesses (SMBs) and serves a wide range of vertical markets including healthcare, financial, education, banking, legal, manufacturing, retail, and municipal. Datto is a channel-only provider. Solutions are resold through Managed Service Providers (MSPs), Value Added Resellers (VARs), and IT Service Providers to end-user businesses. Datto was founded in 2007 and is based in Norwalk, Connecticut.

Sell -
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