Today it was officially announced that the parent company of The CBORD Group will acquire Transact for $1.5 billion. CBORD is owned by Roper Industries, an extremely large conglomerate that owns nearly 30 software and tech companies in multiple sectors. According to the announcement, Transact will be combined with the CBORD business.

In 2019, Blackboard sold the transaction system part of its business to the private equity firm Reverence Capital Partners for a rumored $750 million.

According to online sources, Roper’s strategy is to acquire well-managed companies with strong market positions, stable cash flows, and significant growth potential. They then allow these companies to operate autonomously.

The acquisition of Transact is a bit different for Roper, however, as it would not make sense to allow two competitors to operate autonomously. The businesses will be combined, and this will bring changes in staffing and platform offerings which will inevitably impact the client base.

While it is too early to have details for what this will mean for campus clients of both companies, CampusIDNews has requests in to speak to company representatives and will provide updates as they come in.

Who is Roper?

The Roper Group, founded in 1890, began as a manufacturing firm producing industrial equipment such as pumps, gas stoves, and lawn equipment. By the mid-20th century, Roper was a leader in precision tools and equipment. In the decades that followed, the company expanded its portfolio, selling certain product lines and acquiring new companies in the engineering and industrial sectors.

In the early 1980s, Roper shifted its focus to technology-driven solutions, investing heavily in research and development and pivoting from industrial equipment to software, medical devices, and analytical instruments.

In 1992, the company – now called Roper Industries – went public on the NASDAQ and today is a part of the S&P 500.

The 2000s marked a period of aggressive growth, with Roper acquiring a number of high-tech firms focused on niche markets in both manufacturing and software.

Roper today

Today, the company’s website lists nearly 30 subsidiaries, categorizing them in three buckets: application software, networks software, and technology enabled products. Its market cap exceeds $56 billion.

In 2008, Roper acquired food service software and transaction system provider, The CBORD Group, for $367 million. In 2015, the company added another identity technology company, RF Ideas, to its portfolio.

Roper philosophy

According to online sources, Roper’s strategy is to acquire well-managed companies with strong market positions, stable cash flows, and significant growth potential. They then allow these companies to operate autonomously. By selecting companies with good cash flow and recurring revenue models, they are able to fund additional acquisitions without overburdening debt.

As mentioned above, it would not make sense to allow two competitors to operate autonomously so these businesses will be combined and this will result in to-be-determined changes.

Aug. 15, 2024 – 11:00 a.m.

According to a Roper Industries release, "The combined business will utilize both the Transact and CBORD brand names and be led by Transact’s CEO, Nancy Langer, with CBORD’s CEO, Dan Park, serving as Chief Operating Officer."

Aug. 15, 2024 – 2:00 p.m.

Sources report that the transaction was announced today, following successful completion of a Department of Justice 30-day review of the acquisition.