Roper Weighs Process Tech Unit Sale at $3 Billion Value
(Bloomberg) -- Roper Technologies Inc. is considering selling its process technology division, which could fetch as much as $3 billion, according to people familiar with the matter.
The industrial conglomerate is working with a financial adviser to explore strategic options for the unit, said the people, who asked not to be identified because they weren’t authorized to speak publicly. Roper is open to selling the division whole or in pieces, the people said. No final decision has been made and Roper could opt to keep the unit, they said.
Representatives for Sarasota, Florida-based Roper didn’t respond to requests for comment.
Roper rose 1.4% to $487.94 at 1:29 p.m. in New York on Friday, giving the company a market value of about $51 billion.
The potential sale comes as Roper seeks to pare certain business lines to focus on its core technology assets, which provide technology tools to the oil, gas and other industrial sectors. Roper agreed this month to sell its TransCore business for $2.7 billion to Singapore Technologies Engineering Ltd.
The process technologies unit includes Roper Pumps, which has high exposure to the oil and gas industry. It also includes Cornell, which makes pumps for food and waste-water processing, and PAC, which provides analytical instruments for laboratories in the hydrocarbon industry.
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