Diversified technology company Roper Technologies Inc. (NYSE: ROP) will buy Aderant Holdings Inc. from private equity for Madison Dearborn Partners for $675 million net of cash.
Aderant makes software that helps law firms manage case loads, billing and docket calendars. The Atlanta-based target serves more than 3,000 clients and expects to generate about $125 million in revenue in 2016. Madison Dearborn bought Aderant in 2012.
Aderant made some add-on acquisitions under Madison Dearborn’s ownership. Earlier in 2015, Aderant purchase Timesoft, a Baarn, Netherlands-based reseller of Aderant products. In 2014, Aderant acquired legal software company Redwood analytics from LexisNexis.
“I am pleased that Aderant will operate from a permanent home within Roper Technologies,” says Aderant CEO Chris Giglio.
Roper makes software ranging from flow measurement for the industrial and energy sector to medical imaging. Earlier in 2015, Roper purchased ID card technology maker RF Ideas and vaccine distributor Atlantic Health Partners for a combined $277 million.
Other recent software deals include Idera’s deal for Thoma Bravo-backed data software maker Embarcadero Technologies and Tyler Technologies Inc.’s (NYSE: TYL) $670 million purchase of dispatch technology company New World Systems.