Business
Roper Technologies to Divest Zetec
SARASOTA, Fla., Aug. 10, 2021 (GLOBE NEWSWIRE) -- Roper Technologies, Inc. (NYSE: ROP), a leading diversified technology company, today announced that it has
About this update from Roper Technologies, Inc.
[{"type":"text","content":"SARASOTA, Fla., Aug. 10, 2021 (GLOBE NEWSWIRE) -- Roper Technologies, Inc. (NYSE: ROP), a leading diversified technology company, today announced that it has reached a definitive agreement to sell 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. The Company expects this transaction to close at the end of this year, subject to customary closing conditions, including regulatory approvals. “Eddyfi/NDT is an ideal home for Zetec, and the combination of these businesses will be a great fit for Zetec’s talented employees and loyal customers,” said Neil Hunn, Roper’s President and CEO. “We are thankful to everyone at Zetec for their many years of contributions to Roper and wish them continued success with their innovative work in nondestructive testing.\" About Roper Technologies Roper Technologies is a constituent of the S&P 500, Fortune 500, and the Russell 1000 indices. Roper operates businesses that design and develop software (both license and software-as-a-service) and engineered products and solutions for a variety of niche end markets. Additional information about Roper is available on the Company’s website at www.ropertech.com. About Zetec Zetec is a global leader in nondestructive testing (NDT) solutions for the critical inspection needs of industries the world counts on every day including Power Generation, Oil and Gas, Aerospace, Automotive, Maritime, Military, Rail, and Manufacturing. For more than 50 years, Zetec has advanced NDT standards and science that protect customers’ most important assets and ensure the quality of their products, processes, and services. Learn more at www.zetec.com. About Eddyfi/NDT Eddyfi/NDT is a fast-growing, innovative, and private industrial technology group focused on advanced diagnostic technologies to monitor the world’s infrastructure health. The Group serves asset owners, large engineering firms, and service companies globally in markets such as Aerospace, Civil Infrastructure, Energy, Mining, Power Generation, and Rail. Eddyfi/NDT believes that advancing science and technology via sensors, hardware, robotics, and software makes the world more productive and safer for people, business, and nature. The company employs over 1,300 peopl...