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Roper Industries Inc. recently announced plans to acquire TransCore Holdings Inc. from an investor group led by KRG Capital Partners L.L.C. for about $600 million. The transaction is expected to close by year end, pending anti-trust review and customary closing conditions.

A supplier of radio frequency identification (RFID) tags and readers, satellite-based communication hardware and accessories, and mobile asset-tracking systems, TransCore will continue to operate as a standalone company and market its products under current brand names.

"[TransCore] has a large base of recurring business, and complementary technologies and market channels that can be leveraged across our portfolio of leading RF and imaging businesses," said Roper Chairman, President and Chief Executive Officer Brian Jellison in a prepared statement.

TransCore's senior officers — led by President and CEO John Worthington — will continue to manage the company, which employs 1,800 people throughout North America.

"Roper's strength as a corporate parent will allow TransCore to focus on delivering value propositions to our customers, such as the deployment and advancement of our next-generation RFID tags, multi-protocol readers and satellite communications products for security and asset-tracking applications," said Worthington.