For Immediate ReleaseFriday, September 5, 2008
Ithaca, New York—Roper Industries Inc. has announced the purchase of Horizon Software International, adding a series of food service-centered software offerings to its growing portfolio.
According to the announcement, the acquisition of Horizon gives the company heightened exposure in the K-12 market with products that include Horizon's OneSource platform, MealpayPlus online payment processing solution, as well as nutritional management, and supply chain coordination solutions, among others. The product portfolio adds to Roper's February acquisition of The CBORD Group Inc., offering a complimentary set of solutions designed for the higher ed market.
"We are delighted to add Horizon to our growing RF segment," said Brian Jellison, Roper's Chairman, President and CEO, in a prepared statement. "Horizon adds to our successful CBORD business and makes us the clear leader in technology that enables more efficient meal management processes within the educational community. The company has built a leading-edge suite of software products that generate attractive recurring revenue, strong customer relationships and high retention rates. Having Horizon and CBORD work together will enhance each business' capabilities, and there will be other exciting opportunities for Horizon to collaborate with several of our other existing businesses."
Horizon Software will become a part of Roper's RF Technology segment, operating as a stand-alone business. The company will continue to market its products and services under their current brand names. In addition, Roper will retain Horizon's current leadership, including president, Glenn Davenport, and chief operating officer, Michael Williamson.
The CBORD Group, Inc.
61 Brown Road
Ithaca, NY, 14850