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Roper Industries Acquires Horizon Software International
Thursday, September 04, 2008
Leading Technology Provider Complements Recent CBORD Acquisition, Broadens RF Segment
SARASOTA, Fla., Sept. 4 /PRNewswire-FirstCall/ -- Roper Industries, Inc.
(NYSE: ROP) today announced that it has acquired Horizon Software
International, LLC, the leading provider of comprehensive software solutions
and related services to the K-12 education market and to healthcare, senior
living, military and corporate markets.
Horizon's solutions include its industry-leading OneSource software
platform, industry-standard hardware and a broad range of related services, as
well as MealpayPlus, an online payment processing platform. Other solutions
Horizon offers include nutritional management, supply chain coordination,
parental involvement in meal selection and documentation for governmental
reimbursement. Horizon will become part of Roper's RF Technology segment and
will operate as a standalone business alongside The CBORD Group, Inc., which
Roper acquired in February 2008. The two businesses are highly complementary
and bringing together Horizon's K-12 business and CBORD's higher education
business will enable Roper to better serve the entire educational spectrum.
Horizon, which is headquartered in Duluth, Georgia, will continue to market
its products and services under its current brand names.
"We are delighted to add Horizon to our growing RF segment," said Brian
Jellison, Roper's Chairman, President and CEO. "Horizon adds to our
successful CBORD business and makes us the clear leader in technology that
enables more efficient meal management processes within the educational
community. The company has built a leading-edge suite of software products
that generate attractive recurring revenue, strong customer relationships and
high retention rates. Having Horizon and CBORD work together will enhance
each business' capabilities, and there will be other exciting opportunities
for Horizon to collaborate with several of our other existing businesses."
"The Horizon management team has done an exceptional job building the
business and we are delighted the leadership team will remain with Roper. We
welcome the people of Horizon to Roper and look forward to working together to
grow their business while continuing to provide their customers with the
outstanding products and services they have come to expect," Mr. Jellison
added.
Glenn Davenport, Horizon's President, and Michael Williamson, Chief
Operating Officer, will continue to lead the business as part of Roper.
Mr. Davenport said: "Horizon is excited to become part of Roper and its
growing RF segment. We see clear growth opportunities in working with CBORD.
Roper has an exceptional track record of building businesses and we are
excited for Horizon's future as part of the Roper family."
About Roper Industries
Roper Industries is a market-driven, diversified growth company with
trailing twelve month revenues of $2.2 billion, and is a component of the
Fortune 1000, S&P MidCap 400 and the Russell 1000 Indexes. Roper provides
engineered products and solutions for global niche markets, including water,
energy, radio frequency and research/medical applications. Additional
information about Roper Industries is available on the Company's website at
www.roperind.com .
The information provided in this press release contains forward looking
statements within the meaning of the federal securities laws. These forward
looking statements include, among others, statements regarding operating
results, the success of our internal operating plans, and the prospects for
newly acquired businesses to be integrated and contribute to future growth and
profit expectations. Forward looking statements may be indicated by words or
phrases such as "anticipate," "estimate," "plans," "expects," "projects,"
"should," "will," "believes" or "intends" and similar words and phrases.
These statements reflect management's current beliefs and are not guarantees
of future performance. They involve risks and uncertainties that could cause
actual results to differ materially from those contained in any forward
looking statement. Such risks and uncertainties include our ability to
integrate our acquisitions and realize expected synergies. We also face other
general risks, including our ability to realize cost savings from our
operating initiatives, unfavorable changes in foreign exchange rates,
difficulties associated with exports, risks associated with our international
operations, difficulties in making and integrating acquisitions, risks
associated with newly acquired businesses, increased product liability and
insurance costs, increased warranty exposure, future competition, changes in
the supply of, or price for, parts and components, environmental compliance
costs and liabilities, risks and cost associated with asbestos related
litigation and potential write-offs of our substantial intangible assets, and
risks associated with obtaining governmental approvals and maintaining
regulatory compliance for new and existing products. Important risks may be
discussed in current and subsequent filings with the SEC. You should not
place undue reliance on any forward-looking statements. These statements
speak only as of the date they are made, and we undertake no obligation to
update publicly any of them in light of new information or future events.
SOURCE Roper Industries, Inc.
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