Roper Industries said Monday it plans to buy on-demand SCM (supply chain management) software vendor iTradeNetwork from private equity firm Accel-KKR for US$525 million. The transaction is expected to close later this week. Roper Industries said Monday it plans to buy on-demand SCM (supply chain management) software vendor iTradeNetwork from private equity firm Accel-KKR for US$525 million. The transaction is expected to close later this week.Some 6,200 customers use iTradeNetwork’s offering, which is aimed at the food industry. The pending deal will provide Roper with “additional scale to pursue acquisitions in the software solutions space,” according to a statement.ITradeNetwork has apparently developed a loyal customer base, a key goal for SaaS vendors since they sell on a subscription basis and customers can more easily switch to other providers compared to on-premises software. The company’s contracts have enjoyed a 99 percent renewal rate, according to Roper.Roper is retaining iTradeNetwork’s management team, including CEO Rob Bonavito, according to a statement. ITradeNetwork’s software will work in concert with technologies Roper gained from its previous acquisitions of TransCore and the CBORD Group, according to Ray Wang, partner with Altimeter Group. TransCore develops RFID (radio frequency identification) and vehicle-tracking technologies, while CBORD’s products include cashless card systems and food service management software. Meanwhile, iTradeNetwork’s application provides customers with product sourcing, procurement, supply chain analytics and other capabilities.ITradeNetwork’s software “is solving the food problem today, but it’s applicable to other [industries],” Wang added. Roper’s overall strategy is to build “really rich” trading partner networks in a variety of industries with complex supply chains, he said.Chris Kanaracus covers enterprise software and general technology breaking news for The IDG News Service. Chris’s e-mail address is Chris_Kanaracus@idg.com Related content news Is China waging a cyber war with Taiwan? Nation-state hacking groups based in China have sharply ramped up cyberattacks against Taiwan this year, according to multiple reports. By Gagandeep Kaur Dec 01, 2023 4 mins Cyberattacks Government Government news Apple patches info-stealing, zero day bugs in iPads and Macs The vulnerabilities that can allow the leaking of sensitive information and enable arbitrary code execution have had exploitations in the wild. By Shweta Sharma Dec 01, 2023 3 mins Zero-day vulnerability feature The CSO guide to top security conferences Tracking postponements, cancellations, and conferences gone virtual — CSO Online’s calendar of upcoming security conferences makes it easy to find the events that matter the most to you. By CSO Staff Dec 01, 2023 6 mins Technology Industry IT Skills Events news Conti-linked ransomware takes in $107 million in ransoms: Report A ransomware campaign linked to the ostensibly defunct Conti malware group has targeted mostly US businesses, in a costly series of attacks. By Jon Gold Nov 30, 2023 4 mins Ransomware Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe