Transact Campus Has Agreed to be Acquired for $1.6B by Roper Technologies and CBORD

William Blair acted as exclusive financial advisor to Transact Campus (Transact), a portfolio company of Reverence Capital Partners (Reverence), in connection with its pending $1.6 billion sale to Roper Technologies, Inc. (Nasdaq: ROP). Transact will be combined with Roper's CBORD higher-education and security business. The transaction is expected to close in the immediate future, continuing William Blair's leadership in software-led payments and representing William Blair's 6th EdTech deal of 2024 and 35th since 2021.

About the Companies

Transact is a leader in innovative payment, campus ID, and commerce solutions for a connected campus. The company's highly configurable, mobile-centric campus technology ecosystem simplifies the user experience across the full spectrum of campus life. Transact's offerings include integrated solutions for tuition and other student expense payments, multi-purpose campus IDs, and campus commerce. With a long-standing reputation in the education community, Transact proudly serves over 12 million users across more than 1,940 client institutions, has provisioned over 1.9 million mobile credentials, and has enabled hundreds of millions of contactless mobile wallet transactions and purchases.

Reverence is a private investment firm focused on three complementary strategies: (i) Financial Services-Focused Private Equity, (ii) Opportunistic, Structured Credit, and (iii) Real Estate Solutions. Today, Reverence manages more than $10 billion in AUM. Reverence focuses on thematic investing in leading global Financial Services businesses. The firm was founded in 2013, by Milton Berlinski, Peter Aberg, and Alex Chulack, after distinguished careers advising and investing in a broad array of financial services businesses. The partners collectively bring over 100 years of advisory and investing experience across a wide range of Financial Services sectors.

Roper is a constituent of the Nasdaq 100, S&P 500, and Fortune 1000. Roper has a proven, long-term track record of compounding cash flow and shareholder value. 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 capital toward high-quality acquisitions.

CBORD is a leading provider of food and nutrition service management software, integrated security solutions, campus card and cashless systems, and commerce platforms for healthcare, senior living, higher education, and business campuses. With over 10,000 organizations using CBORD solutions globally, the company is committed to delivering innovative and comprehensive technology solutions that enhance the daily lives of patients, residents, students, staff, and administrators.

Learn more about our technology investment banking expertise.