iPipeline, a provider of cloud-based software solutions for the life insurance and financial services industry is being acquired by Roper Technologies Inc, a diversified technology company.

iPipeline will continue to manage the business from its Exton headquarters. iPipeline’s name and brands are not expected to change as a result of the transaction.

As part of the transition, iPipeline CFO and COO Larry Berran will become CEO, while iPipeline CEO Tim Wallace will move into a strategic adviser role.

iPipeline is currently an investment of Thoma Bravo, a leading private equity firm. Credit Suisse served as exclusive financial adviser to iPipeline, and Kirkland & Ellis LLP and Lauletta Birnbaum LLP served as legal advisers to iPipeline and Thoma Bravo.

The acquisition is expected to close in the third quarter.