Share Prices & Company Research

Market News

10 Feb 2021 | 11:59

Tyler Technologies to buy NIC in $2.3bn deal

(Sharecast News) - US software provider Tyler Technologies has agreed to buy NIC in a cash deal valued at around $2.3bn. Under the terms of the transaction, which has been unanimously approved by the boards of directors of both companies, NIC shareholders will receive $34 a share in cash.

Tyler described NIC as "a leading digital government solutions and payments company", serving more than 7,100 federal, state, and local government agencies across the nation.

The company's president and chief executive officer, Lynn Moore, said: "The pandemic has accelerated the shift by governments to online services and electronic payments as more citizens and businesses are interacting digitally with government. NIC is uniquely positioned with its deep expertise and robust digital solutions to partner with us in making government more efficient and more accessible to citizens.

"Our companies share a vision for thriving, connected communities, and our cultures are extremely compatible. The combination will provide extensive benefits for the clients, employees, and shareholders of both companies."

The deal is expected to be accretive to Tyler's non-GAAP earnings and EBITDA, as well as recurring revenue mix and free cash flow per share, in 2021.

Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 30th April 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.