CIO Bulletin
Roper Technologies has announced that it has entered into a definitive agreement to acquire iPipeline for $1.625 billion.iPipeline is a leading cloud-based software solutions provider for life insurance and annuity industries.
Roper Technologies is planning to fund the transaction using its revolving credit facility and cash on hand. After the acquisition, iPipeline is expected to contribute around $200 million in revenue and $70 million free cash flow in 2020.
iPipeline was founded in 1995. Today, its SaaS-based applications help almost 150 carriers, 1,350 distributors, and over 500,000 agents.iPipeline’s solutions have been pivotal in helping reduce costs through improvements in cycle times and fulfillment of life insurance.
Neil Hunn, Roper Technologies President and CEO said: “iPipeline is a terrific company with clear niche market leadership, a history of strong organic growth, high customer retention, and a management team that will thrive as part of Roper. We look forward to supporting iPipeline as they execute on numerous future growth opportunities while expanding the benefits enjoyed by their large and growing network of carriers, distributors, and agents.”
Post the acquisition, iPipeline will continue to be led by CEO Larry Berran. The company will also continue to operate from its headquarters in Exton, Pennsylvania.
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