Roper Technologies acquires insurance software builder iPipeline in $1.6bn deal

Software development company Roper Technologies has acquired iPipline in an all-cash transaction deal valued ay $1.6bn.

iPipeline builds cloud-based solutions for the life insurance and annuity industries. Its SaaS-based applications offer workflow automation and seamless integration for around 150 distributors, and more than 500,000 agents.

Its end-to-end platform supplies companies with process automation for pre-sales support, new business and underwriting, policy administration, point-of-sale execution of applications, post-sale support, data analysis, reporting, user-driven configuration, consumer delivery and self-service, and agency and firm management.

Following the acquisition, iPipeline’s management team, led by Larry Berran, will continue to run operations from the Pennsylvania headquarters.

Roper Technologies hopes this deal will contribute around $200m of revenue and $70m of after-tax free cash flow in 2020.

Roper’s president and CEO Neil Hunn said, “The iPipeline transaction demonstrates our disciplined capital deployment strategy by acquiring another high-quality business that will help grow and compound our cash flow.

“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.”

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