Tyler completes two buys
- By William Welsh
- Feb 02, 2006
Tyler Technologies Inc. has completed the acquisition of two software companies that will help it expand into new service areas.
In fiscal 2005, Tyler of Dallas acquired MazikUSA, a developer of integrated student information systems for K-12, and also TACS, a maker of pension administration software systems.
The combined purchase price for the two companies was about $14.2 million, which included about $11.3 million in cash and 325,000 shares of stock. The two companies had combined revenues of less than $3 million in 2005.
Mazik of Park Ridge, Ill., has developed an integrated student information system to address the needs of K-12 schools to track attendance, scheduling and grades. The company's Web-based approach is built on Microsoft .NET technology.
TACS, of Woburn, Mass., sells pension administration software for the public sector. It has about 100 customers, primarily in New England.
The acquisitions "will be valuable additions" to the company's offering of software and services for local governments, said John Marr, Tyler's president and CEO.
Tyler has roughly 1,400 employees and had annual sales of about $170 million in fiscal 2005.
William Welsh is a freelance writer covering IT and defense technology.