(ABCNews247) – Roper Technologies said Tuesday it would buy Frontline Education from private equity firm Thoma Bravo in a deal that valued the education software maker at about $3.7 billion, which would bolster its software business.
Frontline’s cloud-based software provides a connected platform of administrative solutions that focuses on K-12 education.
Roper will pay approximately $3.375 billion for Frontline, including a tax benefit from the deal, which is expected to close in the fourth quarter.
Frontline’s management team will continue to lead from its headquarters in Malvern, Pennsylvania. The name, brands and office locations will not change as a result of the transaction.
Roper said in June it would sell a majority stake in its industrials business to private equity firm Clayton Dubilier & Rice LLC for $2.6 billion.
