Accel-KKR to sell iTradeNetwork to Roper Industries for $525 million
26 Jul 2010
Diversified industrial group Roper Industries today said that it has agreed to acquire iTradeNetwork, Inc., from private-equity firm Accel-KKR for $525 million.
It said the acquisition of California-based provider of web-based software that automates the supply chain for the retail and foodservice industries,.is aimed at expanding its technology services division.
Florida-based Roper operates in four main business lines, industrial technology, radio frequency technology, scientific and industrial imaging, energy systems and controls.
With annual revenues of over $2 billion and a part of the Fortune 1000, S&P Midcap 400 and the Russell 1000 Indexes, Roper has more than $1 billion in operating cash flow that it generated during the three-year period from 2006 to 2008.
Its collaborative solutions allow distributors, manufacturers, operators, retailers, suppliers and wholesalers of all sizes to reduce cost, grow revenue and strengthen trading partner relationships.
iTradeNetwork's leading solutions serve over 6,200 customers transacting over $250 billion annually.
