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LAKEWOOD RANCH — Roper Industries, a business conglomerate in everything from medical software to IT, has changed its name to Roper Technologies Inc.
The $3.5 billion publicly traded firm, in a statement, says the name change reflects its evolution into a diversified technology company. The firm's shares, on the NYSE, will begin trading under the new name April 29, and the ticker symbol will remain ROP. Shares of the firm, with a headquarters in a Lakewood Ranch corporate park, closed April 24 at $169.92 a share.
“The emergence of Roper Technologies highlights our evolution over several years,” Roper Chairman, President and CEO Brian Jellison says in a release. “Our strategy remains consistent: niche-focused, asset-light businesses with leading-edge technologies led by terrific operating leaders that create significant free cash flow to enable further investments for growth. The consistent execution of this strategy has transformed our company into a technology leader across many high-value end markets.”
Adds Jellison: “The Roper Technologies name reflects our existing family of high-performing businesses and also points to a future of great opportunities.”
Roper, according to Jellison, has spent more than $4 billion to acquire technology-focused businesses since 2010. That includes medical software, information networks, medical products and Software-as-a-Service firms.
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