Exclusive: Roper Technologies in $5.5 billion bid for Vertafore – sources

Roper has been competing against private equity firms in an auction for Vertafore, which is owned by buyout firms Vista Equity Partners and Bain Capital, the sources said. If Roper can conclude the negotiations successfully, an agreement could be announced as early as this month, the sources added, cautioning that no deal is certain.

The sources requested anonymity because the negotiations are confidential. Roper declined to comment. Vertafore, Vista Equity and Bain did not immediately respond to requests for comment.

Headquartered in Sarasota, Florida, Roper has grown, largely through acquisitions, to a provider of software and automated solutions to a variety of sectors, including healthcare, transportation, food, energy and education. It has a market capitalization of $46 billion.

Insurance software companies have seen rising demand for products that give customers instant access to their information and help insurance providers cut costs. Acquiring Vertafore would be in line with Roper’s strategy of snapping up software companies in niche markets with strong recurring revenues.