Roper Technologies, Inc. Strengths, Domain Expertise, and Key Differentiators
In August 2019, Roper Technologies acquired iPipeline in its latest move to expand into services-based verticals. Traditionally, Roper caters to asset-based verticals with its industrial products for process and discrete manufacturers. Now Roper operates more like a holding company that has amassed a large collection of applications products for insurance carriers, construction companies, advertising and law firms, as well as a smattering of sub-verticals. The commonality is picking up software assets that generate healthy recurring revenues.
Roper Technologies, Inc. Recent Developments
In October 2021, Roper Technologies sold its CIVCO Radiotherapy business to an affiliate of Blue Wolf Capital Partners LLC, a private equity firm, in an all-cash transaction valued at $120 million. Roper will retain its CIVCO Medical Solutions business, which will continue to operate independently.
Roper has transformed from an industrial manufacturer to a technology play after launching an acquisition spree by spending more than $10 billion since 2015 as it picks up ERP service operations management software assets for professional services, healthcare, construction, and insurance verticals.
Roper Technologies, Inc. Mergers and Acquisitions (M&A) Activities
In August 2021, Roper Technologies sold its Zetec business to Eddyfi/NDT in an all-cash transaction valued at approximately $350 million. Zetec has generated approximately $64 million of revenue and $17 million of EBITDA over the last 12 months.
In October 2021, Roper Technologies sold its TransCore business to Singapore Technologies Engineering Ltd (“ST Engineering”), a global technology, defense, and engineering group, for $2.68 billion. Roper will retain its DAT and Loadlink network software businesses, which it acquired together with TransCore in 2004.
In 2020 Roper acquired Insurance Software Firm Vertafore for $5.35 billion in another major move into the vertical. That follows its move to buy iPipeline in 2019. Roper's Strata unit also bought Allscripts' financial-decision-support subsidiary EPSi for $365 million.
Roper Technologies, Inc. Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Roper Technologies, Inc. applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Roper Technologies, Inc. and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Deltek, iPipeline, Vertafore Agency Platform, Powerplan customers.
Roper Technologies, Inc. Overview
Ownership: - NYSE:ROP
Number of Employees: 18400
Functional Markets: Analytics and BI, Collaboration, Content Management, CRM, EPM, ERP Financial, ERP Services and Operations Management, HCM, ITSM, PLM, PPM, Procurement, SCM,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communication, Construction, Real Estate, Consumer Packaged Goods, Distribution, K191, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Faith-Based Nonprofit, Youth and Elderly Care, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
Roper Technologies, Inc. Key Enterprise and Cloud Applications
Deltek, iPipeline, Vertafore Agency Platform, Powerplan
Roper Technologies, Inc. Revenues, $M:
| Type/Year | 2020 | 2021 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Roper Technologies, Inc. Revenue Breakdown By Type, $M:
| Type | License | Prof. Services | Hardware | Support & Maintenance | SaaS | PaaS | IaaS | Other (Non Enterprise Application Revenues) | Total |
|---|---|---|---|---|---|---|---|---|---|
| % of Total Revenues | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | 100% |
| Revenues, $M | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe |
Roper Technologies, Inc. Enterprise Applications Revenues By Functional Markets, $M:
Roper Technologies, Inc. Enterprise Applications Revenues By Verticals, $M:
Roper Technologies, Inc. Revenues By Region, $M
| Region | % of Total Revenues | 2021 Total Revenues, $M | 2021 Enterprise Applications Revenues, $M | 2021 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
Roper Technologies, Inc. Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Roper Technologies, Inc. Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Roper Technologies, Inc. Customers
No. of Roper Technologies, Inc. Customers: x
No. of Roper Technologies, Inc. Enterprise Applications Customers: x
No. of Roper Technologies, Inc. Cloud Customers: x
No. of Roper Technologies, Inc. Cloud Subscribers: x
Roper has been adding thousands of customers and partners continuously after the completion of each of its recent acquisitions. Most recently, the acquisition of Vertafore adds more than 25,000 agencies and 1,000 insurance carriers.
The purchase of iPipeline resulted in adding more than 130 carriers, 1,300 distributors and financial institutions, and their agents and licensed advisors. On the other hand, more than 6,000 contractors run ComputerEase, acquired through another Roper company Deltek, for their construction projects using its accounting, project management, and payroll applications.
Roper Technologies, Inc. Market Opportunities, M&A and Geo Expansions
Roper Technologies acquired Vertafore in a transaction valued at approximately $5.35 billion. Vertafore’s cloud-based software provides agency management, compliance, workflow, and data solutions that simplify and automate the complex property and casualty (P&C) insurance lifecycle. More than 20,000 agencies and 1,000 insurance carriers rely on Vertafore to streamline their processes, improve efficiency, and drive productivity. Vertafore is expected to contribute approximately $590 million of revenue in 2021.
Since the beginning of 2019, Roper has separated out its numerous software assets by classifying them under applications and network software, which now account for the bulk of its revenues. This underscores the fact that Roper's future lies in applications, not scientific instruments.
The sale of Gatan for its specimen preparation tools to Ametek in the third quarter of 2019 could usher in further divestitures of its hardware products. If that comes into fruition, one can expect even more software purchases perhaps larger deals - from Roper as it accelerates its own transformation.
Roper Technologies, Inc. Risks and Challenges
As Roper continues with its software pivot, the branding issue looms large. The use of Deltek to purchase Computerease could extend the lifespan of some of its acquired brands, rather than reinventing the Roper name, which is hardly a household name in the eyes of software buyers. A bigger issue is whether Roper aims to build a coherent technology framework for its acquired software assets, which could take years.
The remaining challenge has to do with how much autonomy are these software assets being given to further their R&D development, something that Roper has not fully addressed.
Roper Technologies, Inc. Ecosystem, Partners, Resellers and SI
Cross-selling and up-selling within its diversified ecosystem will be a challenge. It's likely that individual software products within the Roper family will continue with their partnering strategy and there's little reason for the holding company to come up with a consolidated plan given its partners operate in different verticals.
Roper Technologies, Inc. Cloud Infrastructure Insights
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Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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