The acquired company provides cloud-based enterprise performance management software, data and intelligence solutions. Credit: NicoElNino via Shutterstock.

Roper Technologies has acquired Syntellis Performance Solutions (Syntellis), a software company, in a deal valued at $1.25bn, from Madison Dearborn Partners (MDP) and Thoma Bravo.

The acquired company provides cloud-based enterprise performance management software, data and intelligence solutions for the financial services, healthcare, and education sector.

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Syntellis will be merged with Roper’s Strata Decision Technology (Strata) unit, which offers healthcare financial planning, performance management and decision support solutions.

The combined entity will operate under the Strata brand and led by Strata CEO John Martino.

Roper said the net purchase price is around 15 times Syntellis’ anticipated EBITDA for 2024.

Roper Technologies president and CEO Neil Hunn said: “Syntellis is a fantastic business that meets all of our acquisition criteria, including niche market leadership, mission-critical solutions, a high recurring revenue mix, strong customer retention, negative working capital, and excellent cash conversion.

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“Bringing together Strata and Syntellis will enhance the innovation and value that can be delivered to their combined customer base.”

With planned cost efficiencies, Syntellis is anticipated to generate $185m in sales and $85m in EBITDA in 2024.

Syntellis CEO Flint Brenton said: “Thoma Bravo and MDP’s support and collaboration have propelled our growth, helped advance our product roadmap and enabled us to better serve our valued clients

“As part of Roper, we will further our mission to empower our clients to optimize performance through our industry-specific, tailored solutions.”

Roper used its cash on hand and revolving credit facility to finance the acquisition, which closed earlier this week.