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Date Posted: 10/19/2011

Tyler Technologies Acquires Windsor Management Group, Expands Share of K-12 Education Market Nationwide


Infinite Visions® Product Suite to be Integrated Into Tyler’s Portfolio of School Offerings
 
 
DALLAS--(BUSINESS WIRE)-- Tyler Technologies, Inc. (NYSE:TYL - News) today announced that it has acquired Windsor Management Group, L.L.C. (WMG), which provides an integrated suite of financial and human capital management solutions to the K-12 education market through its flagship product, Infinite Visions®enterprise software.

As a result of the transaction, more than 800 school districts in 31 states currently served by WMG will become Tyler customers, and WMG’s approximately 60 employees will join Tyler. WMG’s software and services will complement Tyler’s other School solutions.

“The addition of WMG further expands Tyler’s share of the K-12 education market nationwide. We believe that the companies are a great fit because of our focus on providing superior products and support to clients, as reflected by client retention rates exceeding 97 percent,” said John S. Marr Jr., president and chief executive officer of Tyler Technologies. “The Infinite Visions product suite is competitive in the marketplace, and it is an ideal addition to Tyler’s portfolio of software and services. We welcome WMG’s clients and employees to the Tyler family.”

Tyler acquired Windsor Management Group and its assets for $23.5 million in cash, subject to certain working capital adjustments. WMG, based in Tempe, Ariz., had total revenues of approximately $12 million in 2010, including approximately $7.8 million in recurring revenue.

“We are pleased to add WMG’s Infinite Visions product suite to Tyler’s school financial and human capital management solutions, and we are eager to begin working with WMG’s team,” said Brett Cate, president of Tyler’s Local Government Division. “WMG is a deeply respected company with more than 30 years of K-12 business experience, and we look forward to building on the successful track record that the Infinite Visions product suite has established with clients across the country. Together with the management and employees of WMG, Tyler looks forward to providing the same level of excellence in service and product for which both organizations are known.”

WMG’s programs and services will be integrated into Tyler operations and branding during the coming months.

“We are excited to join Tyler Technologies,” said Bruce Borcher, president of Windsor Management Group. “Tyler shares the same high level of commitment to customers and staff that has made WMG one of the leaders in the K-12 Education market and we look forward to being a significant part of Tyler’s K-12 business software offerings.”

About Tyler Technologies, Inc.

Based in Dallas, Tyler Technologies is a leading provider of end-to-end information management solutions and services for local governments. Tyler partners with clients to empower the public sector — cities, counties, schools and other government entities — to become more efficient, more accessible and more responsive to the needs of citizens. Tyler’s client base includes more than 10,000 local government offices throughout all 50 states, Canada, the Caribbean and the United Kingdom. Forbes Magazine named Tyler as one of “America’s 200 Best Small Companies” for three consecutive years. More information about Tyler Technologies can be found at www.tylertech.com.

This document contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are not historical in nature and typically address future or anticipated events, trends, expectations or beliefs with respect to our financial condition, results of operations or business. Forward-looking statements often contain words such as “believes,” “expects,” “anticipates,” “foresees,” “forecasts,” “estimates,” “plans,” “intends,” “continues,” “may,” “will,” “should,” “projects,” “might,” “could” or other similar words or phrases. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. We believe there is a reasonable basis for our forward-looking statements, but they are inherently subject to risks and uncertainties and actual results could differ materially from the expectations and beliefs reflected in the forward-looking statements. We presently consider the following to be among the important factors that could cause actual results to differ materially from our expectations and beliefs: (1) changes in the budgets or regulatory environments of our customers, primarily local and state governments, that could negatively impact information technology spending; (2) our ability to achieve our financial forecasts due to various factors, including project delays by our customers, reductions in transaction size, fewer transactions, delays in delivery of new products or releases or a decline in our renewal rates for service agreements; (3) economic, political and market conditions, including the recent global economic and financial crisis, and the general tightening of access to debt or equity capital; (4) technological and market risks associated with the development of new products or services or of new versions of existing or acquired products or services; (5) our ability to successfully complete acquisitions and achieve growth or operational synergies through the integration of acquired businesses, while avoiding unanticipated costs and disruptions to existing operations; (6) competition in the industry in which we conduct business and the impact of competition on pricing, customer retention and pressure for new products or services; (7) the ability to attract and retain qualified personnel and dealing with the loss or retirement of key members of management or other key personnel; and (8) costs of compliance and any failure to comply with government and stock exchange regulations. A detailed discussion of these factors and other risks that affect our business are described in our filings with the Securities and Exchange Commission, including the detailed “Risk Factors” contained in our most recent annual report on Form 10-K. We expressly disclaim any obligation to publicly update or revise our forward-looking statements.












 
 


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