Private equity firm Accel-KKR has announced plans to sell iTradeNetwork, the on-demand supply chain management software vendor, to Roper Industries in a deal worth $525m. The transaction is expected to close later this week.

The software maker has around 6,200 customers in the food industry, and claims to have a 99% renewal rate on its contracts. Its application provides customers with product sourcing, procurement, supply chain analytics and other capabilities.

Roper said the deal gives it “additional scale to pursue acquisitions in the software solutions space”. It added that ITradeNetwork's software will work along with technologies that Roper has gained from its previous acquisitions of TransCore (RFID and vehicle-tracking) and the CBORD Group (cashless card systems and food service management software).

Roper said it will retain iTradeNetwork's management team, including CEO Rob Bonavito.

NamNews - Tuesday 27th July 2010

 

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