PowerPlan To Be Acquired by Roper Technologies
ATLANTA, May 21, 2018 – PowerPlan, a leading provider of strategic corporate performance software for asset-intensive companies today announced that it will be acquired by Roper Technologies, Inc, a diversified technology company and a constituent of the S&P 500, Fortune 1000, and the Russell 1000 indices. The acquisition is expected to close in the second quarter, subject to regulatory approval and customary closing conditions.
Roper has a successful history of acquiring well-run technology companies in niche markets that have strong, sustainable growth potential. PowerPlan’s track record of profitable growth and leading position within its core markets make it an excellent fit for Roper’s long-term strategy.
“Roper’s acquisition of PowerPlan is a great opportunity for our customers, employees, and partners,” said Charles Goodman, President and CEO of PowerPlan. “Roper provides PowerPlan with a long-term foundation we can use to further solidify our leadership position in strategic corporate performance for asset-intensive companies. Roper’s commitment to sustained investment in our products and employees means we will continue to deliver the solutions and domain expertise that drive significant value for our customers.”
“We are excited to add another industry-leading, application software business to our family,” said Brian Jellison, Roper’s Chairman, President, and CEO. “The PowerPlan transaction demonstrates our disciplined capital deployment strategy, which results in the acquisition of high performing businesses.”
Neil Hunn, Roper’s Executive Vice President and Chief Operating Officer, noted, “PowerPlan provides the technology backbone enabling its customers to get the enhanced financial, tax, and operational information they need to improve financial performance. We look forward to working with PowerPlan’s leadership team to continue to grow their innovative product suite and loyal customer base.”
PowerPlan will continue to manage the business from its Atlanta, Georgia headquarters. PowerPlan’s name and brands are not expected to change as a result of the transaction.
PowerPlan is currently an investment of private equity firm Thoma Bravo.
About Roper Technologies
Roper Technologies is a constituent of the S&P 500, Fortune 1000, and the Russell 1000 indices. Roper operates businesses that design and develop software (both license and software-as-a-service) and engineered products and solutions for a variety of niche end markets. Additional information about Roper is available on the Company’s website at www.ropertech.com.
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