Tyler Technologies Continues Growth in Education Market with Acquisition of School Information Systems, Inc.
Tyler Technologies, Inc. — Tuesday, September 02, 2008
DALLAS--(via BUSINESS WIRE)--Tyler Technologies, Inc. (NYSE: TYL) today announced that it has acquired all the common stock of School Information Systems, Inc. (SIS) of St. Louis, Missouri. SIS develops and sells a full suite of student information and financial management systems for K-12 schools.
SIS was established in 1983 and had annual revenues of more than $5 million in its last fiscal year. It has a customer base that includes more than 275 school districts in Missouri and Illinois, including the St. Louis Public Schools, Missouri’s largest school district. Approximately 45 employees have joined Tyler with the acquisition.
The addition of SIS further broadens Tyler’s presence nationwide in the K-12 school market. Tyler has an extensive line of solutions to address the system needs of any size school or district, including financial, student information and transportation management solutions.
“We are pleased to further expand our growing presence in the education management market through the addition of School Information Systems. SIS has a solid track record and strong regional reputation that we expect will continue to broaden as a part of Tyler. SIS has highly competitive products, quality long-term client relationships, and skilled professionals led by Nick Botonis,” commented John S. Marr, Jr., Tyler’s president and chief executive officer. “This transaction is further evidence of our commitment to solidifying our position as a leader in providing systems for schools nationwide.”
“We are very excited to join Tyler Technologies,” stated Nick Botonis, president and founder of SIS. “Tyler is a great company and a great fit for us and our customers. Tyler’s commitment to providing its customers with quality products and services is exactly what we have been about for over 25 years in the K-12 school market, and our 98 percent client retention rate mirrors Tyler’s. We look forward to playing an important role in Tyler’s growth and evolution as a leader in providing integrated enterprise-wide solutions for K-12 schools.”
Based in Dallas, Tyler Technologies is a leading provider of end-to-end information management solutions and services for local governments. Tyler partners with clients to make local government more accessible to the public, more responsive to needs of citizens, and more efficient. Tyler’s client base includes more than 7,000 local government offices throughout all 50 states, Canada, Puerto Rico and the United Kingdom. Tyler has been named one of “America’s 200 Best Small Companies” by Forbes Magazine and one of “America’s 100 Most Trustworthy Companies” by Audit Integrity, an independent research firm. More information about Tyler Technologies can be found at www.tylertech.com.
Tyler Technologies, Inc. has included in this press release "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 concerning its business and operations. Tyler Technologies expressly disclaims any obligation to release publicly any updates or revisions to these forward-looking statements to reflect any change in its expectations. These expectations and the related statements are inherently subject to risks and uncertainties that could cause actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to, changes in competition, changes in general economic conditions, changes in the budgets and regulatory environments of the Company's customers, risks associated with the development of new products and the enhancement of existing products, the ability to attract and retain qualified personnel, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Contact: Tyler Technologies, Inc., Brian K. Miller, 972-713-3720, Executive Vice President - CFO, email@example.com