(Reuters) - Roper Technologies said it will buy software firm Procare Solutions for $1.75 billion from private equity firms Warburg Pincus and TA Associates, as the industrial technology company looks to expand its portfolio of software products.
The purchase price includes a tax benefit of $110 million and has a total enterprise value of $1.86 billion, the companies said on Thursday.
Procare, which makes cloud-based software for child-care centers and early childhood education facilities, is expected to contribute about $260 million in revenue for the twelve months ending March 31, 2025, according to Roper.
Roper said it expects to use its revolving credit facility to fund the transaction.
Procare's management team will continue to lead the company from its Denver headquarters, according to Roper.
(Reporting by Akash Sriram in Bengaluru; Editing by Shounak Dasgupta)