Roper Technologies acquires Syntellis for net purchase price of $1.25B

Roper Technologies announced that it has completed the acquisition of Syntellis Performance Solutions for a net purchase price of $1.25B, including a $135M tax benefit resulting from the transaction. The net purchase price represents approximately 15 times Syntellis’ expected 2024 EBITDA. Syntellis is a leading provider of cloud-based performance management and data solutions for healthcare, financial institutions, and higher education, and will be combined with Roper’s Strata Decision Technology business, a leading provider of healthcare financial planning, decision support, and performance management solutions. The combined business will retain the Strata Decision Technology name and be led by Strata’s CEO, John Martino. Acquisition financing and financial outlook: The transaction closed on August 7, 2023 and Roper funded the acquisition using its cash on hand and revolving credit facility. Syntellis is expected to contribute approximately $185 million of revenue and $85 million of EBITDA in 2024, including planned cost synergies