âSarasota, Fla.-based industrial and technology conglomerate Roper Technologies (NYSE: ROP) has agreed to purchase software and information product provider Deltek for $2.8 billion from private equity firm Thoma Bravo.
Roper said Tuesday it expects to complete the transaction before the year’s end and will fund the deal through its existing credit facility and new debt scheduled to be issued later this month.
Thoma Bravo purchased Herndon, Va.-based Deltek in 2012 for $1.1 billion and took the firm private.
Roper expects Deltek to record $535 million in revenue and $200 million of earnings before interest, taxes, debt and amortization in 2017.
Roper reported $3.6 billion in revenue for 2015 with net income of $696.1 million.
Deltek’s customer base includes government contractors and professional firms with approximately 22, 000 organizations in at least 80 countries as clients.
Deltek CEO Mike Corkery and the firm’s team of 2, 400 professionals will move to RoperÂ in their current roles.
Shares in Roper traded up $0.95 to $182.59 as of 11:05 a.m. Eastern time.