Tyler Technologies Completes Acquisition of NIC
Tyler Technologies, Inc. (NYSE: TYL) and NIC Inc. (NASDAQ: EGOV), jointly announced today that Tyler has completed the previously announced acquisition of NIC, a leading digital government solutions and payments company that serves more than 7,100 federal, state, and local government agencies across the nation.
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With the addition of NIC’s highly complementary, industry-leading digital government solutions and payment services to Tyler's broad client base and multiple sales channels, the combined company will be well equipped to address the tremendous demand at the federal, state, and local levels for innovative platform solutions. Together, Tyler and NIC will connect data and processes across disparate systems and deliver essential products and services to all public sector stakeholders.
“Tyler and NIC share a vision for connecting communities and bringing more efficient and accessible technology solutions to citizens,” said Lynn Moore, Tyler’s president and chief executive officer. “It was clear to us when we first announced this transaction in February that NIC is uniquely positioned to help make government more efficient as it continues to add online services for residents. After working closely with the NIC team over the past few months, we are more confident than ever in the cultural alignment across our organizations and the opportunities ahead for our combined company.”
NIC delivers user-friendly digital services that make it easier and more efficient for citizens and businesses to interact with government – providing valuable conveniences like applying for unemployment insurance, submitting business filings, renewing licenses, accessing information, and making secure payments without visiting a government office. In addition, NIC has extensive expertise and scale in the government payments arena, processing more than $24 billion in payments on behalf of citizens and governments in 2020, which will accelerate Tyler’s strategic payments initiatives.
With the completion of the acquisition, NIC Chief Executive Officer Harry Herington is retiring from the organization. The rest of the NIC leadership team will remain in place and continue to manage operations from its Olathe, Kansas, home office. Tyler is working closely with NIC on an integration plan for the benefit of the combined operations.