Roper Technologies in $5.5 billion bid for Vertafore Inc: Report

(Reuters) – Roper Technologies Inc, a U.S. provider of software to several industries, is in talks to acquire private equity-owned insurance software vendor Vertafore Inc for close to $5.5 billion, people familiar with the matter said on Sunday.

The deal would be Roper’s largest acquisition to date. It would signal that the highly acquisitive company has not given up on its expansion plans in the wake of the COVID-19 pandemic, which has caused some of its customers to review their spending plans.

Roper has been competing against private equity firms in an auction for Vertafore, which is owned by buyout firms Vista Equity Partners and Bain Capital, the sources said. If Roper can conclude the negotiations successfully, an agreement could be announced as early as this month, the sources added, cautioning that no deal is certain.