On a continuing ops basis we grew revenue, EBITDA and DEPS north of 20% in the quarter.
Revenue on an organic basis grew 12% in the quarter, end market and customer demand was very strong across our portfolio within both our software and product businesses.
Importantly, our software segments were strong operationally with 10% growth in one segment and 17% in the other.
To remind everyone about 80% our software revenues are recurring in nature.
As mentioned customer demand was very strong throughout the quarter and backlogs are up over 50% versus last year.
Given the strong operational performance we continue our disciplined deleveraging of our balance sheet with net debt at 3.5 times trailing EBITDA.
We agreed to divest TransCore to ST Engineering for $2.68 billion.
Taken together we are divesting these three businesses for $3.15 billion or about 20 times this year's EBITDA.
Together with our internally generated cash flow we will have about $5 billion of available M&A firepower to deploy between now and the end of 2022.
As part of these transactions, we are retaining our DAT and Loadlink network software businesses, which are purchased together with TransCore in 2004 and we are retaining our CIVCO Medical Solutions business.
Over the course of the last 15 years, these businesses have consolidated freight networks, continuously innovate their product solutions, built go-to-market capability and grown revenues high single-digits on a compounded organic basis.
Similarly, the retained CIVCO Medical Solutions business has grown high single-digits on an organic basis over the last 15 years as well.
Including, the business is now classified as discontinued operations, we generated $1.621 billion of revenue and $602 million of EBITDA.
Total DEPS was $3.91, which exceeded our Q3 DEPS guidance of $3.80 to $3.84.
Free cash flow for the quarter was $431 million, down 2% versus prior year.
Year-to-date free cash flow is now up 29% through three quarters.
Here we will review some of the key income statement metrics on a continuing operations basis, revenue increased 22% to $1.463 billion.
Q2 organic revenue increased 12% with strong growth across all four reporting segments, led by 17% organic growth in our Network Software segment.
EBITDA increased 21% to $558 million.
Net earnings grew 24% to $384 million and DEPS also grew 24% to $3.60.
Year-to-date, we have reduced our net debt by nearly $1.3 billion and our total debt reduction is now $1.8 billion, since completing the last of the 2020 acquisitions approximately one year ago.
We continue to benefit from our excellent cash conversion as the nearly $2.3 billion of total EBITDA we generated over the last four quarters has converted to $1.94 billion of free cash flow, representing EBITDA to free cash flow conversion of 85%.
At the end of September, our net debt to EBITDA has decreased to 3.5 times.
We are on track to be near 3 times by the end of 2021 and therefore well positioned to return to capital deployment even before accounting for the divestitures.
The proceeds from the divestitures further amplify our capacity with $5 billion plus available for deployment through 2022 as Neil highlighted earlier.
Moving now to Page 10, a quick look here and how the divestitures meaningfully improve our working capital position moving forward.
We are now at negative 12% net working capital to revenue, compared to negative 6% in the same quarter last year and negative 3% back in Q3 2019.
Divesting TransCore reduces our net working capital by approximately $200 million with the majority coming out of our unbilled receivables balance.
Let's turn to Page 12, and walk through our Application Software segment.
Revenues in this segment were $603 million, up 10% on an organic basis.
EBITDA margins were 44.4% in the quarter.
Across the segment, we saw organic recurring revenue, which is a touch north of 75% of the revenue for this segment increased approximately 10%.
Turning to Page 13, the financial performance for this segment, as well the next to MAS and PT are shown on a continuing ops basis.
Revenues in our network segment were $343 million, up 17% on organic basis, and EBITDA margins remained very strong at 51.6% in the quarter.
The software businesses and this segment are now greater than 90% of the segment's revenue.
Our NSS software growth was broad-based and driven by organic recurring revenue growth of approximately 17%.
As we turn to Page 14 revenue in our MAS segment were $392 million, up 9% on organic basis.
Organic growth in this segment excluding Verathon was again north of 20%.
EBITDA margins for this segment were 32.4% in the quarter.
Product backlogs are up over 50%, as compared to a year ago.
As it relates to individual business performance Verathon coming off unprecedented demand for their intubation family of products a year ago is roughly 40% larger today versus 2019.
As we turn to Page 15, revenues in our Process Tech segment were $124 million, up 16% on organic basis.
EBITDA margins were 31.6% in the quarter.
The short story here is we're seeing improving end market conditions across virtually every one of our businesses in this segment and strong demand both orders and backlog were up approximately 50% in the quarter versus a year ago.
Now please turn to Page 17, where I'll highlight our increased outlook for 2021.
Based on strong year-to-date performance and expected continued momentum we're establishing full-year 2021 guidance on a continuing ops basis, a $14.08 to $14.12.
As you read on this table you will note that the full-year DEPS impact for the businesses being divested is $1.18.
If you combine this with our newly established continuing ops guidance you will note, we are raising our full-year outlook on an apples-to-apples basis by $0.26 in the low-end and $0.10 on the high end.
As it relates to the fourth quarter, we're establishing again on a continuing ops basis guidance in the range of $3.62 and $3.66.
As we turn to Page 18 and our closing summary, our third quarter was a solid quarter from both an operational and financial perspective.
Revenue, EBITDA and DEPS grew 20% plus, organic revenue was up 12%.
We also continue to deleverage our balance sheet by $1.8 billion since the 2020 acquisitions with net leverage now coming in at 3.5 times trailing EBITDA.
In addition, we expect to have roughly $5 billion of capital available to deploy between now and the end of 2022.
So we're clear, we are 100% back on offense when it comes to our capital deployment portion of our strategy and have fully resumed our usual process oriented and disciplined M&A activities.

Summary:
Total DEPS was $3.91, which exceeded our Q3 DEPS guidance of $3.80 to $3.84.
Based on strong year-to-date performance and expected continued momentum we're establishing full-year 2021 guidance on a continuing ops basis, a $14.08 to $14.12.
As it relates to the fourth quarter, we're establishing again on a continuing ops basis guidance in the range of $3.62 and $3.66.