Description
Roper Technologies is an American diversified industrial company that produces engineered products for global niche markets. The company is headquartered in Sarasota, Florida.
Roper provides a wide range of products and services to customers in over 100 countries. The company has four main business lines: Industrial Technology, Radio Frequency (RF) Technology, Scientific and Industrial Imaging, and Energy Systems and Controls. Roper joined the Russell 1000 index in 2004, and has annual revenues of more than US$1.23 billion, as of 2017.
History
George D. Roper founded the company in the late 19th century, primarily as a manufacturer of home appliances, pumps, and other industrial products. Roper initiated a corporate acquisition program, supported by an initial public offering, in 1992.
In 1906 George D. Roper acquires Trahern Pump Co.
In 1957 George D. Roper sold its stove business to The Florence Stove Co. of Kankakee, Il. It would continue to operate under the name George D. Roper. This would leave the other products with the original company changing its the company name to Roper Pump Company.
In 1966, George D. Roper entered the outdoor lawn equipment acquiring David Bradley Manufacturing Works from Sears.
1981 Roper Pump Co. reorganized to Roper Industries.
In 1988, a battle began as General Electric and Whirlpool fought to acquire Roper for its appliances and yard equipment. In 1989, Whirlpool Corporation acquired the Roper brand.
In 1988, Electrolux purchased Roper's lawn and garden products division. Roper was added to Husqvarna and Poulan/Weedeaster divisions forming the new brand American Yard Products.
In 2001, Brian Jellison, a former executive of General Electric and Ingersoll-Rand, joined Roper as chief executive officer. The previous holding company business strategy has been replaced with an operating company model. Since 2001 Roper has completed acquisitions accounting for over half its revenues, establishing the company in global growth markets, such as radio frequency identification(RFID) and water.[citation needed]. Jellison died on November 2, 2018 after a brief illness.
Roper acquired Sunquest Information Systems, a maker of diagnostic and laboratory software for $1.42 billion in cash in 2012.
April 24, 2015 Roper Industries Inc. changed its corporate name to Roper Technologies, Inc.
In August 2020, Roper has agreed to acquire Vertafore, an insurance software maker, in a cash transaction valued at approximately $5.35 billion.
