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Lakewood Ranch-based Roper Technologies Inc. plans to close within a week on a $632 million acquisition of a leading provider of cloud-based data and workflow automation solutions to the commercial construction industry.
The purchase of ConstructConnect is expected to generate $150 million in revenues for Roper next year, the company says in a statement. ConstructConnect has over 800,000 users of its software in the U.S. and Canada, and operates eight offices throughout North America.
Dave Conway, who leads ConstructConnect from its headquarters in Cincinnati, will continue in that capacity, as will the rest of the company's management team. The company's software also will maintain current brand names, including iSqft, Bidclerk, CMD and Construction Data.
“ConstructConnect has created the largest cloud-based network for collaboration between participants in the construction industry,” says Brian Jellison, Roper's chairman, president and CEO, in a statement. “We look forward to working with Dave and the leadership team to continue to grow the business and expand the offerings of its large customer base.
Roper, which designs and develops software and related products for the healthcare, transportation, food, energy and other industries, generated $3.58 billion in revenue in 2015.
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