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Harry Herington, CEO of NIC, has been awarded the 2021 CEO Global Award by CEO Today Magazine, recognizing his innovative leadership. The magazine features him in its winner’s edition, reaching over 150,000 readers. Herington credits NIC's employees for their dedication during the COVID-19 pandemic, helping to develop over 130 digital solutions for government services. NIC has also been listed among Forbes' 2021 America’s Best Small Companies, earning 160 awards in total throughout 2020.
NIC Inc. has enhanced its Gov2Go platform by providing an expedited passport service for U.S. citizens. This service, launched in early 2020 in partnership with RushMyPassport, offers a turnaround time of four to six weeks for passport renewals and name changes, with plans to add new passport options soon. Gov2Go currently supports 3 million users nationwide for various government services. The platform facilitates tracking of passport orders, enhancing user convenience. NIC processed 400 million online transactions in 2020, securing over $24 billion for government agencies.
NIC Inc. (Nasdaq: EGOV) reported robust Q4 2020 results, with total revenues of $141.2 million, marking a 62% increase year-over-year. Significant contributions came from TourHealth ($36.8 million) and pandemic unemployment services ($8.4 million) in Virginia. Operating income rose 104% to $23.9 million, with net income increasing 79% to $17.8 million. The company declared a 9-cent dividend per share. Full-year revenues reached $460.5 million, a 30% increase, driven by similar factors. A definitive agreement was also announced for Tyler Technologies to acquire NIC for approximately $2.3 billion.
Tyler Technologies and NIC Inc. have announced a definitive agreement for Tyler to acquire all outstanding shares of NIC in a cash transaction valued at approximately $2.3 billion. This acquisition aims to enhance Tyler's digital service offerings and expand its market presence. The deal is expected to accelerate Tyler's growth in delivering technology solutions to government entities, leveraging NIC's existing platforms. The acquisition is anticipated to close in the second quarter of 2021, subject to regulatory approvals and customary closing conditions.
The County of Kaua‘i has launched an online payment platform for digital landfill payments, effective February 1. This service, developed in collaboration with NIC Hawaii, offers customers both guest payment options and account management features for logged-in users. The platform enhances operational efficiency, allowing County staff to manage billing and payment files seamlessly. NIC Hawaii's General Manager, Burt Ramos, emphasized the importance of this digital solution for improving citizen interaction with the County.
NIC Insurance Filings has expanded its services to allow users to submit SR-22 and SR-26 forms online to the Washington Department of Licensing. This enhancement enables personal auto insurers to utilize the same efficient filing process previously available to commercial insurers. The system improves submission speed and transparency through automatic data population, benefiting users statewide. NIC Insurance Filings, a subsidiary of NIC Inc. (NASDAQ: EGOV), supports 23 states, enhancing insurance filing efficiency for both agencies and insurers.
NIC Inc. (Nasdaq: EGOV) will discuss its fourth quarter financial results on February 11, 2021, at 4:30 p.m. (EST). The news release will precede the call at 4 p.m. (EST) and will be accessible on their website. CEO Harry Herington and CFO Steve Kovzan will review financial performance and outlook, along with addressing investment community questions. The call may include discussions on company developments and significant business matters.
NIC serves over 7,000 government agencies nationwide, providing digital solutions for efficient interaction with government services.
The Alabama Secretary of State has launched an enhanced online business filing service in accordance with Act 2020-73, streamlining processes for businesses statewide. Hosted by NIC Alabama, the portal allows electronic filings and dissolutions across all counties, eliminating the need for county probate office submissions. Key features include direct document downloads, responsive design for mobile access, and reduced processing times. This initiative aims to foster economic growth and efficiency for Alabama businesses, supporting them through challenging times.
