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|Roper Industries to Acquire Sunquest Information Systems|
Roper expects the acquisition of Sunquest to be immediately cash accretive and to generate
"Sunquest meets all of Roper's key acquisition criteria and is an ideal fit with both our Medical and Software platforms," said
Mr. Jellison continued, "Sunquest is led by an outstanding and proven leadership team that impressed us with their culture of execution and the results they have created. We look forward to working with the Sunquest team to enhance the value of the business for the benefit of customers, employees and shareholders. The business will continue as Sunquest, marketing products and services under current brand names."
Completion of the transaction, which is expected within 30 days, is subject to Hart-Scott-Rodino approval and customary closing conditions.
About Sunquest Information Systems
The information provided in this press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements include, among others, statements regarding operating results, the success of our internal operating plans, and the prospects for newly acquired businesses to be integrated and contribute to future growth, profit and cash flow expectations. Forward-looking statements may be indicated by words or phrases such as "anticipate," "estimate," "plans," "expects," "projects," "should," "will," "believes" or "intends" and similar words and phrases. These statements reflect management's current beliefs and are not guarantees of future performance. They involve risks and uncertainties that could cause actual results to differ materially from those contained in any forward-looking statement. Such risks and uncertainties include our ability to close the Sunquest acquisition, integrate our acquisitions and realize expected synergies. We also face other general risks, including our ability to realize cost savings from our operating initiatives, general economic conditions, unfavorable changes in foreign exchange rates, difficulties associated with exports, risks associated with our international operations, difficulties in making and integrating acquisitions, risks associated with newly acquired businesses, increased product liability and insurance costs, increased warranty exposure, future competition, changes in the supply of, or price for, parts and components, environmental compliance costs and liabilities, risks and cost associated with asbestos related litigation and potential write-offs of our substantial intangible assets, and risks associated with obtaining governmental approvals and maintaining regulatory compliance for new and existing products. Important risks may be discussed in current and subsequent filings with the SEC. You should not place undue reliance on any forward-looking statements. These statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
The estimate of Sunquest's 2013 EBITDA contribution is a non-GAAP measure which includes the impact of Sunquest's deferred revenue, a portion of which will be excluded under GAAP's purchase accounting rules, which require the deferred revenue to be reduced to fair value upon the acquisition. The company is not currently able to estimate the impact of the required fair value adjustment.
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