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Tyler Technologies Completes Acquisition Of Vendengine

Sep 01, 2021almost 4 years ago

Acquiring Company

Tyler Technologies

Acquired Company

VendEngine

PlanoInformation TechnologySoftwareFinancial ServicesOther

Description

Tyler Technologies, Inc. (NYSE: TYL) and VendEngine, Inc. jointly announced today that Tyler has completed the previously announced acquisition of VendEngine, a privately-held cloud-based software provider focused on financial technology for the corrections market.

Company Information

Company

Tyler Technologies

Location

Plano, Texas, United States

About

Tyler Technologies (NYSE: TYL) provides integrated software and technology services to the public sector. Tyler's end-to-end solutions empower local, state, and federal government entities to operate more efficiently and connect more transparently with their constituents and with each other. By connecting data and processes across disparate systems, Tyler's solutions are transforming how clients gain actionable insights that solve problems in their communities. Tyler has more than 27,000 successful installations across more than 11,000 sites, with clients in all 50 states, Canada, the Caribbean, Australia, and other international locations. Tyler has been named to Government Technology's GovTech 100 list five times and has been recognized three times on Forbes' "Most Innovative Growth Companies" list. More information about Tyler Technologies, an S&P 500 company headquartered in Plano, Texas, can be found at tylertech.com.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed