(By Balachander) Roper Industries Inc. (NYSE:ROP) is acquiring Sunquest Information Systems Inc, a provider of laboratory information system software, for about $1.4 billion in cash. In addition, the company posted in-line earnings and it raised full-year forecast after quarterly orders grew 8 percent.
The Sarasota, Florida-based provider of industrial technology, medical and scientific imaging products expects the deal to immediately add to earnings and to deliver $140 million or more of earnings before income tax, depreciation and amortization in 2013.
Tucson, Arizona-based Sunquest is owned by a group of investors resulting from a 2010 recapitalization, led by Huntsman Gay Global Capital, in partnership with Vista Equity Partners, which acquired Sunquest from Misys Plc (LON:MSY) in 2007.
Roper's second quarter earnings per share increased 6.5 percent to $1.15, while revenue rose 3.6 percent to $725 million. Analysts, on average, expected earnings of $1.15 per share on revenue of $747 million.
Looking ahead for the full year, the company now expects earnings per share in the range of $4.84 to $5.00 from prior expectations of $4.75 to $4.91, while analysts' expect $4.83.
ROP shares ended at $98.59 on Friday. Over the past year, shares have been trading between $64.90 and $103.50.