Nashville, Tennessee-based TransCore develops traffic management, tolling systems and related technologies for the transportation industry and is expected to record approximately $545 million in 2021 revenue, Roper said Sunday.
The transaction is expected to be completed in the first quarter of 2022, subject to regulatory approvals and other customary closing conditions.
Roper, which acquired TransCore in 2004, will keep its DAT and Loadlink network software businesses. Neil Hunn, president and CEO of Roper, said the company will use the proceeds from the deal to deploy capital in support of its pipeline of acquisition opportunities.
Vincent Chong, group president and CEO of ST Engineering, said the planned acquisition of TransCore will enable the company to further enhance its position in the smart mobility market.
Evercore and BofA Securities acted as financial advisers to Roper in the transaction.
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