Lakewood Ranch tech company plans $800M software firm acquisition

A technology company headquartered in Lakewood Ranch has increased its revenue guidance for the year, in part due to a new acquisition.

Roper Technologies signed an agreement to acquire Subplash, a provider of AI-enabled, cloud-based software and fintech solutions serving more than 20,000 faith-based organizations and churches, for $800 million, according to a statement. The two companies entered into the deal last week, and it is expected to close by the end of July.

"Subsplash is a terrific business that meets each of our long-standing acquisition criteria while enhancing shareholder value creation with its high-teens organic growth profile and the ability to expand margins under Roper’s long-term ownership,” Roper President and CEO Neil Hunn says in a statement. “We see significant potential for Subsplash to further advance their AI capabilities and deliver powerful solutions that will drive increased engagement for their customers.”

Based in Dallas, Subsplash provides a platform mainly used by churches that offers mobile apps, online giving, live streaming, websites, media delivery, events management and communication tools. In December, Subsplash acquired PulpitAI, an artificial intelligence company for pastors and churches, that creates more 20 pieces of content (like clips, blog posts and emails) from each sermon that is uploaded.

“We are particularly excited about how AI capabilities are enhancing our solutions and creating new opportunities, broadly, across our portfolio,” Hunn says in a statement. 

Subplash will be the latest major acquisition for Roper Technologies, which this spring closed a $1.65 billion deal to acquire CentralReach, a software provider that specializes in services for those with autism and intellectual and developmental disabilities.

Reporting on its second-quarter results on July 21, Roper says in a statement that revenue increased 13% to $1.94 billion; organic revenue increased by 7%; and the acquisition contribution was up 6%. The company increased its full-year total revenue growth outlook to 13%, compared with a previous outlook of 12%, and says it continues to expect organic revenue growth of 6% to 7%. Roper's guidance includes the impact of the Subsplash acquisition.

"We are once again increasing our full year outlook, supported by our strong second quarter results, the continued expansion of our recurring revenue base and resilient demand for our businesses' mission-critical solutions,” Hunn says in a statement.

In April, Roper Technologies also increased its revenue guidance after a strong first quarter, increasing anticipated growth from 10% to 12%.

“With significant M&A capacity and our proven acquisition model, we remain well positioned to execute our disciplined capital deployment strategy against a large pipeline of attractive opportunities,” Hunn says. “The combination of our durable business portfolio and proven M&A capability continues to fuel compelling long-term cash flow compounding for our shareholders."

Last year, Roper invested $3.6 billion in "high-quality, vertical software acquisitions," including $1.75 billion for early childhood education software company Procare Solutions and $1.5 billion for campus technology company Transact Campus. Roper Technologies posted $7.04 billion in revenue in 2024.