By Colin Kellaher

Roper Technologies Inc. said it agreed to sell TransCore, its traffic-management and tolling systems unit, to Singapore Technologies Engineering Ltd. for $2.68 billion in cash.

Roper, a Sarasota, Fla., diversified technology company, said it will retain its DAT and Loadlink network software businesses, which it acquired along with TransCore in 2004.

Roper said TransCore is expected to generate about $545 million of revenue and $135 million of earning before interest, taxes, depreciation and amortization this year.

The company said it expects to complete the sale in the first quarter of 2022, adding that it plans to account for TransCore as discontinued operations when it reports its third-quarter 2021 results.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

October 04, 2021 06:11 ET (10:11 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
Singapore Tech Engineering (PK) (USOTC:SGGKY)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Singapore Tech Engineering (PK) Charts.
Singapore Tech Engineering (PK) (USOTC:SGGKY)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Singapore Tech Engineering (PK) Charts.