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Yesterday, Roper Industries Inc. announced it completed a transaction to acquire TransCore Holdings Inc. from an investor group led by KRG Capital Partners L.L.C. for about $600 million.

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's senior officers, led by President and Chief Executive Officer John Worthington, will continue to manage the company.

TransCore's complementary technologies and market channels will be leveraged with Roper's portfolio of radio frequency and imaging businesses, Roper officials said in a prepared statement.

To help fund the acquisition, Roper used proceeds from a recently completed public offering of 5 million shares netting $300.5 million, and amended senior secured credit facility that now includes a $655 million five-year term loan and undrawn $400 million five-year revolving credit facility.