U.S-based Roper Technologies Inc. agreed to acquire U.K. creative software developer Foundry for £410 million in cash.
Roper said it will use its revolving credit facility and cash on hand to fund the transaction, which is expected to close in April, subject to regulatory approval and customary closing conditions.
Roper expects Foundry to generate approximately $75 million of revenue in its first year of ownership of the company, and expects the acquisition to be immediately cash accretive.
Foundry CEO Craig Rodgerson will continue to lead the company from its headquarters in London, Roper said.
Foundry designs creative software technologies used to deliver visual effects and 3-D content for the design, visualization and entertainment industries.