About Roper Technologies Inc

Roper Technologies, Inc. (Roper) operates as a diversified technology company. The company operates market leading businesses that design and develop vertical software and technology enabled products for a variety of defensible niche markets. In January 2024, the company reached a definitive agreement to acquire Procare Solutions, a leading provider of cloud-based software for the childcare market. The transaction is expected to close in the first quarter of 2024. On November 22, 2022, the company completed the divestiture of a majority 51% equity stake in its industrial businesses, including its entire historical Process Technologies reportable segment and the industrial businesses within its historical Measurement & Analytical Solutions reportable segment, to Clayton, Dubilier & Rice, LLC. The businesses included in this transaction were Alpha, AMOT, CCC, Cornell, Dynisco, FTI, Hansen, Hardy, Logitech, Metrix, PAC, Roper Pump, Struers, Technolog, Uson, and Viatran (collectively 'Indicor'). Following the sale of the majority stake, the company retained a minority equity interest in Indicor. This transaction is referred to as the 'Indicor Transaction.' As of December 31, 2023, the company held a 47.3% minority equity interest in Indicor. Segments The company operates through three reportable segments that are as follows: Application Software - Aderant, CBORD, Clinisys, Data Innovations, Deltek, Frontline, IntelliTrans, PowerPlan, Strata, and Vertafore. Network Software - ConstructConnect, DAT, Foundry, iPipeline, iTradeNetwork, Loadlink, MHA, SHP, and SoftWriters. Technology Enabled Products - CIVCO Medical Solutions, FMI, Inovonics, IPA, Neptune, Northern Digital, rf IDEAS, and Verathon. Application Software Below is a description of the products offered by businesses that comprise the Application Software segment: Aderant - comprehensive management software solutions for law and other professional services firms, including business development, calendar/docket matter management, time and billing, and case management. CBORD - campus solutions software, including access and cashless systems, and food and nutrition service management, serving primarily higher education and healthcare markets along with software, services, and technologies for foodservice operations specializing in K-12. Clinisys - diagnostic and laboratory information management software solutions. Data Innovations - software solutions that enable enterprise management of hospitals and independent laboratories. Deltek - enterprise software and information solutions for government contractors, professional services firms, and other project-based businesses. Frontline - K-12 school administration software, connecting solutions for human capital management, student and special programs, and business operations, with powerful analytics to empower educators. IntelliTrans - transportation management software and services to bulk and break-bulk commodity producers. PowerPlan - financial and compliance management software and solutions to large complex companies in asset-intensive industries. Strata - cloud-based financial analytics, performance management software, and data solutions used by healthcare providers, higher education, and financial institutions for financial planning, decision support, and continuous cost improvement. Vertafore - cloud-based software to the property and casualty insurance industry, including agency management, compliance, workflow, and data solutions. Network Software Below is a description of the products offered by businesses that comprise the Network Software segment: ConstructConnect - cloud-based data, collaboration, and estimating automation software solutions to a network of pre-construction contractors. DAT - electronic marketplaces that connect available capacity of trucking units with the available loads of freight throughout North America. Foundry - software technologies used to deliver visual effects and 3D content for the entertainment and digital design industries. iPipeline - cloud-based software solutions for the life insurance and financial services industries. iTradeNetwork - electronic marketplaces and supply chain software that connect food suppliers, distributors, and vendors, primarily in the perishable food sector. Loadlink - electronic marketplaces that connect available capacity of trucking units with the available loads of freight throughout Canada. MHA - health care service and software solutions to alternate site health care markets. SHP - data analytics and benchmarking information for the post-acute healthcare provider marketplace. SoftWriters - software solutions to pharmacies that primarily serve the long-term care marketplace. Technology Enabled Products Below is a description of the products offered by businesses that comprise the Technology Enabled Products segment: CIVCO Medical Solutions - accessories focused on guidance and infection control for ultrasound procedures. FMI - dispensers and metering pumps which are utilized in a broad range of applications requiring precision fluid control. Inovonics - high-performance wireless sensor networks and solutions for a variety of applications. IPA - automated surgical scrub and linen dispensing equipment for healthcare providers. Neptune - water meters, enabling water utilities to remotely monitor their customers utilizing Automatic Meter Reading (AMR), Advanced Metering Infrastructure (AMI) technologies, and cloud-based software supporting meter data management. Northern Digital - optical and electromagnetic precision measurement systems for medical and industrial applications. rf IDEAS - RFID card readers used in numerous identity access management applications across a variety of vertical markets. Verathon - medical devices that enable airway management, including bronchoscopes and video laryngoscopes, and bladder volume measurement solutions for healthcare providers. Distribution and Sales Distribution and sales occur primarily through direct sales offices, manufacturers' representatives, resellers, and distributors. Governmental Regulations The manufacture, sale, lease and service of medical diagnostic and surgical devices intended for commercial use are subject to extensive governmental regulation by the FDA in the U.S. and by a variety of regulatory agencies in other countries for some of the company's businesses. The company is also subject to a variety of federal, state and foreign laws, which broadly relate to its interactions with healthcare practitioners and other participants in the healthcare system, including among others, anti-kickback law, and laws regulating the confidentiality of sensitive personal information and the circumstances under which such information may be released and/or collected, such as the Health Insurance Portability and Accountability Act of 1996, the Health Information Technology for Economic and Clinical Health Act (HITECH Act), and the 2018 General Data Protection Regulation. The company is subject to the U.S. Foreign Corrupt Practices Act and anti-corruption laws, and similar laws in foreign countries, such as the U.K. Anti-Bribery Act. The company's sales activities must comply with restrictions relating to the export of controlled technology and sales to denied or sanctioned parties contained in the U.S. Export Administration Regulations, the U.S. International Traffic in Arms Regulations, and sanctions administered by the Office of Foreign Asset Controls of the U.S. Treasury Department. Research, Development and Engineering The company's research, development and engineering expenses totaled $646.1 for the year ended December 31, 2023. History The company was incorporated in 1981 under the laws of the state of Delaware. It was formerly known as Roper Industries, Inc. and changed its name to Roper Technologies, Inc. in 2015.