We are advising Roper on the transaction

Davis Polk is advising Roper Technologies, Inc. on its $3.725 billion acquisition of Frontline Education from Thoma Bravo. The transaction is expected to close in the fourth quarter, subject to regulatory approvals and customary closing conditions.

Roper Technologies is a constituent of the S&P 500 and Fortune 500. The company operates market leading businesses that design and develop vertical software and technology enabled products for a variety of defensible niche markets. Roper utilizes a disciplined, analytical, and process-driven approach to redeploy its excess free cash flow toward high-quality acquisitions.

Frontline Education is a leading provider of school administration software, connecting solutions for human capital management, student and special programs and business operations with powerful analytics to empower educators. Thoma Bravo is one of the largest private equity firms in the world, with more than $114 billion in assets under management as of March 31, 2022.

The Davis Polk corporate team includes partners John D. Amorosi and Michael Gilson, counsel Jacob S. Kleinman and associates Allison N. First and Natasha D. Shah. The executive compensation team includes partner Jennifer S. Conway and associate Justin Alexander Kasprisin. The tax team includes partner Kara L. Mungovan. The intellectual property and technology transactions team includes partner Frank J. Azzopardi and associate S. Dream Montgomery. All members of the Davis Polk team are based in the New York office.