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SARASOTA — Diversified technology company Roper Technologies Inc. announced it will acquire London-based software company Foundry in an all-cash transaction valued at about $544 million.
According to a press release, Foundry provides software technologies used to deliver visual effects and 3D content for the digital design, visualization and entertainment industries.
“Foundry has become the industry standard in an attractive niche market by maintaining a commitment to serve the complex needs of its customers,” says Roper President and CEO Neil Hunn in a statement. “Combined with an impressive management team and attractive financial profile, these characteristics make Foundry a great fit for Roper. We look forward to supporting Foundry’s long-term growth as the team continues to develop differentiated, superior solutions for its current and future customers.”
The management team, led by CEO Craig Rodgerson, will continue to lead the business from its London headquarters. Foundry’s name and brands are not expected to change, the release adds.
“We’re excited about the opportunities this partnership brings," says Rodgerson in the statement. "Roper understands our strategy and chose to invest in us to help us realize our ambitious growth plans. This move will enable us to continue investing in what really matters to our customers: continued product improvement, R&D and technology innovation and partnerships with global leaders in the industry.”
During the first 12 months of ownership, Roper expects Foundry to deliver approximately $75 million of revenue. The transaction is expected to close in April.
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