Monday, July 26, 2010

iTradeNetwork Sold To Roper Industries For $525M

Pleasanton-based iTradeNetwork, a portfolio firm of private equity investor Accel-KKR, has been sold to Roper Industries, in a deal worth $525M in cash. iTradeNetwork develops products which connects distributors, manufacturers, operators, retailers, suppliers, and wholesalers in the food industry, and had around 250 employees. Roper said that iTradeNetwork was an "excellent addition" to its software-as-a-service business, and had transactions of around $250 billion annually from its 6,200 customers. Roper also explained that iTradeNetwork gets around 97 percent of its revenues from recurring, long term subscription contracts, with around a 99 percent retention rate.