Unique: Roper Applied sciences in $five.five billion bid for Vertafore – assets

Roper Applied sciences Inc, a U.S. supplier of tool to a number of industries, is in talks to obtain non-public equity-owned insurance coverage tool seller Vertafore Inc for with reference to $five.five billion, other folks accustomed to the subject stated on Sunday.

The deal can be Roper’s biggest acquisition to this point. It could signify that the extremely acquisitive corporate has no longer given up on its enlargement plans within the wake of the COVID-19 pandemic, which has led to a few of its consumers to check their spending plans.

Roper has been competing in opposition to non-public fairness companies in a public sale for Vertafore, which is owned by means of buyout companies Vista Fairness Companions and Bain Capital, the assets stated. If Roper can conclude the negotiations effectively, a settlement might be introduced as early as this month, the assets added, cautioning that no deal is sure.

The assets asked anonymity since the negotiations are confidential. Roper declined to remark. Vertafore, Vista Fairness, and Bain didn’t instantly reply to requests for remark.

Headquartered in Sarasota, Florida, Roper has grown, in large part via acquisitions, to a supplier of tool and automatic answers to plenty of sectors, together with healthcare, transportation, meals, power, and training. It has a marketplace capitalization of $46 billion.

Insurance coverage tool firms have observed emerging calls for merchandise that give consumers rapid get entry to their data and lend hand insurance coverage suppliers lower prices. Obtaining Vertafore can be in step with Roper’s technique of snapping up tool firms in the area of interest markets with sturdy routine revenues.

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Vertafore, primarily based in Denver, is without doubt one of the number one distributors of tool to the valuables and casualty insurance coverage business. Vista and Bain got the corporate in 2016 from non-public fairness company TPG for $2.7 billion, together with debt.

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