Roper Technologies to acquire legal software company Aderant
Today, Roper Technologies announced their acquisition of Aderant, the world’s largest independent legal software company, from private equity firm Madison Dearborn Partners (“Madison Dearborn”). The acquisition is expected to close within 30 days and will cement a milestone in Aderant’s evolution and recognition as the leader in legal software technology. Roper Technologies is a constituent of the S&P 500 with a current market capitalization of approximately $17 billion.
Chris Giglio, Aderant CEO, commented, “I am so pleased that Aderant will operate from a permanent home within Roper Technologies. A permanent home enables Aderant to undertake larger strategic initiatives and even more visionary product development. I am proud of the products and services Aderant delivers today, and I am excited about what Roper will enable us to deliver tomorrow.”
Roper Technologies CEO, Brian Jellison added, “While our businesses serve a diverse set of niche markets, a common focus on customer intimacy has been a key success factor over our 23-year history. Aderant has a strong history of delivering value and a high customer satisfaction to the legal technology market. Now, as part of the Roper family, Aderant will be even better positioned to grow.”
The acquisition occurs amidst a rapid growth in Aderant’s client base with many of the largest law firms in the world recently changing their practice management system to Aderant Expert. Chris Cartrett, SVP Global Sales, Aderant, noted “We are seeing a real trend in law firms making large investments in new technology. Such decisions go beyond evaluating technology functionality but also involve evaluating the long term strength, stability and vision of the vendor partner. Our permanent home with Roper should assure clients of Aderant’s ambition and stability to lead the industry into the future.”
In terms of stability, Aderant will continue to operate unchanged in company name, brand, office locations and most importantly staff. All Aderant employees and executives remain with the company and will lead Aderant into a new chapter of the company’s growth.
“The transition from private equity ownership to now a permanent home within Roper Technologies signals the true maturity of our business,” noted Aderant COO Deane Price. “The collaboration of Madison Dearborn with our executive team over the past several years has helped us prioritize opportunities, set us on a higher growth trajectory and positioned us for sale to a software industry leader. Our industry leading customer retention and our operating philosophy fit well within Roper Technologies.”
Mike Barry, EVP Product and Strategy and nine year veteran of Aderant, commented on Aderant’s future: “Today I am more excited than ever for Aderant’s next chapter. Roper Technologies provides us a unique environment to plan and execute on a truly visionary approach to legal technology. No other vendor in our industry enjoys this same luxury.”