Roper Technologies, Inc. (NYSE:ROP), a leading diversified technology company, today announced that it has reached a definitive agreement to sell its Zetec business to Eddyfi/NDT in an all-cash transaction valued at approximately $350 million. Zetec has generated approximately $64 million of revenue and $17 million of EBITDA over the last 12 months. The Company expects this transaction to close at the end of this year, subject to customary closing conditions, including regulatory approvals.
“Eddyfi/NDT is an ideal home for Zetec, and the combination of these businesses will be a great fit for Zetec’s talented employees and loyal customers,” said Neil Hunn, Roper’s President and CEO. “We are thankful to everyone at Zetec for their many years of contributions to Roper and wish them continued success with their innovative work in nondestructive testing.”
