M&A
confidence high
sentiment positive
materiality 0.75
Roper Technologies to acquire Frontline Education for $3.725B cash, net ~$3.375B after tax benefit
ROPER TECHNOLOGIES INC
- Deal valued at ~$3.725B in cash; net purchase price ~$3.375B after tax benefit.
- Implied multiple of ~19x Frontline’s estimated 2023 EBITDA.
- Frontline expected to contribute ~$370M revenue and ~$175M EBITDA in 2023; unlevered FCF ~100% of EBITDA.
- Acquisition expected to close in Q4 2022, subject to regulatory approval and customary conditions.
- Frontline provides cloud-based administrative software to over 10,000 K-12 educational organizations.