Tyler Technologies to Acquire NIC in $2.3 Billion All-Cash Transaction

Rhea-AI Summary

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.

Positive

• Acquisition valued at approximately $2.3 billion, enhancing Tyler's digital service capabilities.
• Expected to accelerate growth in technology solutions for government entities.
• Leverages NIC's existing platforms to expand market presence.

Negative

• None.

Tyler Technologies, Inc. (NYSE: TYL) and NIC Inc. (NASDAQ: EGOV), jointly announced today that they have entered into a definitive agreement under which Tyler will acquire all outstanding shares of NIC in an all-cash transaction valued at approximately $2.3

FAQ

What is the value of the Tyler Technologies and NIC acquisition?

The acquisition is valued at approximately $2.3 billion.

When is the expected closing date for the Tyler and NIC acquisition?

The acquisition is anticipated to close in the second quarter of 2021, pending regulatory approvals.

How will the acquisition benefit Tyler Technologies?

The acquisition will enhance Tyler's digital service offerings and expand its market presence in technology solutions for government entities.

What company is being acquired in this transaction?

Tyler Technologies is acquiring NIC Inc. in this transaction.