Roper Acquires iTradeNetwork for $525 Million

SARASOTA - Roper Industries has announced that it has agreed to acquire iTradeNetwork, Inc., the leading global provider of SaaS-based trading network and business intelligence solutions to the food industry, in a $525 million all-cash transaction. Headquartered in Pleasanton, California, iTradeNetwork's leading solutions serve over 6,200 customers transacting over $250 billion annually. The Company's solutions allow distributors, manufacturers, operators and retailers to reduce supply chain costs, grow revenue and strengthen trading partner relationships.

"iTradeNetwork is an excellent addition to our growing SaaS businesses, complementing the outstanding software services platforms we have built with our CBORD/Horizon and Freight Matching businesses," said Brian Jellison, Roper's Chairman, President and CEO. "Importantly, the transaction meets all of our acquisition criteria.

iTradeNetwork operates a unique platform that generates significant cash flow and has low working capital requirements. Because of the considerable value the Company creates for its participants, 97% of revenue is recurring in nature with long-term, subscription-based contracts that historically have had a 99% renewal rate. The acquisition gives Roper additional scale to pursue acquisitions in the software solutions space, where continue to see many attractive opportunities.

"We welcome iTradeNetwork's outstanding leadership team to Roper and look forward to working together to enhance the value of the business," Mr. Jellison added. iTradeNetwork's management team, under the leadership of Rob Bonavito, will continue to lead the business as part of Roper.