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Tyler Technologies (TYL) delivers essential software solutions that power modern government operations. This news hub provides investors and public sector stakeholders with timely updates on the company's strategic developments.
Access official press releases and curated analysis covering quarterly earnings, product innovations, and public sector partnerships. Our repository helps you track TYL's progress in digitizing court systems, municipal services, and educational administration through integrated technology platforms.
Discover updates on Tyler's ERP enhancements, cloud migration initiatives, and cybersecurity measures designed for government clients. Bookmark this page for streamlined access to financial disclosures and operational milestones that shape the future of civic technology.
Tyler Technologies (NYSE: TYL) has secured a multi-year SaaS agreement with Tigard, Oregon, to provide several integrated solutions including Munis ERP, EnerGov civic services, and more. Initially seeking an advanced asset management solution, the city opted for a broader suite due to its potential for enhanced integration and productivity. This partnership aims to improve workflow through better asset reporting, communication with residents, and reduced data entry. Tyler's solutions align with its Connected Communities vision, promising increased transparency and efficiency for local government operations.
Tyler Technologies (NYSE: TYL) announced the pricing of $525 million in 0.25% convertible senior notes due 2026, offered to qualified institutional buyers. The Notes' issuance settles on March 9, 2021, with a potential additional $75 million purchase option. The interest is payable semi-annually, and holders may convert the Notes to common stock starting September 15, 2025. Net proceeds are estimated at $516.6 million, intended for an acquisition of NIC Inc. and related expenses. The offering is not registered under the Securities Act.
Tyler Technologies (NYSE: TYL) announced that Collin County, Texas, has successfully implemented the Tyler Jury Manager system, streamlining jury selection processes for its courts. This transition was essential as the county faced an overwhelming jury management workload. The new solution enables efficient communication with jurors via text and email, reducing paperwork and improving overall jury management. Collin County, a growing region in the Dallas-Fort Worth area, utilizes multiple Tyler products and emphasizes technological innovation in its operations.
Tyler Technologies plans to offer $1 billion of convertible senior notes due 2026 and $600 million due 2028 in a private offering for qualified institutional buyers. The offering may be increased by up to $150 million for the 2026 Notes and $90 million for the 2028 Notes. Proceeds will fund the acquisition of NIC Inc. and cover related expenses. The notes are unsecured and accrue interest paid semi-annually, with a conversion option for holders. The offering will not be registered under the Securities Act. Tyler aims to enhance government operations with integrated software solutions.
Tyler Technologies (NYSE: TYL) has successfully implemented Tyler Corrections in Champaign County, Illinois, enhancing the management of adult and juvenile corrections. The upgrade was necessary due to the discontinuation of support for the previous jail management system. Champaign County has reported improved navigation, enhanced booking checklists, and better data accuracy, resulting in increased safety for inmates and staff. The solution facilitates efficient data sharing among local law enforcement and court systems, marking a significant step towards comprehensive justice solutions.
Tyler Technologies (NYSE: TYL) has signed a SaaS agreement with the city of Jacksonville, Florida, to implement its EnerGov civic services suite. This solution aims to enhance the city’s business and community development activities by enabling efficient electronic plan reviews and improving connectivity through a citizen self-service portal. Jacksonville, the largest U.S. city by area and 12th most populous, seeks to replace its existing application to better serve its growing population. The new system will automate various city operations, providing residents with easier access to information and improving overall government transparency.
Tyler Technologies (NYSE: TYL) reported its fourth quarter 2020 financial results, showing total revenues of $283.3 million, a decrease of 1.9% from Q4 2019. Recurring revenues grew by 9.5% to $212.4 million, making up 75% of total earnings. Net income rose 15.6% to $54.1 million, or $1.29 per diluted share. Full year revenues reached $1.117 billion, a 2.8% increase, with net income up 33% to $194.8 million. For 2021, TYL expects revenues to be between $1.190 billion and $1.220 billion, with non-GAAP EPS projected between $5.65 and $5.77.
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.
Tyler Technologies (NYSE: TYL) announced the creation of a Corporate Operations team to advance its cloud strategy, enhancing support for public sector clients transitioning to cloud solutions. The team, led by COO Jeff Puckett, will focus on cloud operations, corporate development, and information security. Key initiatives include driving cloud adoption, developing migration plans for clients, and managing cloud-focused projects. This move aligns with growing demand for cloud services among government agencies, especially post-pandemic, emphasizing efficient operations and secure service delivery.
Tyler Technologies (NYSE: TYL) announced that the Brownsville and Laredo Police Departments in Texas have chosen Tyler’s New World public safety solutions and Socrata data platform to enhance data-driven policing. The Brownsville Police Department is replacing a legacy system with Tyler’s advanced analytics technology, aimed at improving resource management and inter-agency communication. Laredo Police will also utilize these solutions, along with the Brazos eCitation system, to improve transparency and efficiency. These collaborations signify Tyler's commitment to public safety technology across Texas.
