Tyler Technologies Announces Completion of Two Acquisitions to Expand Presence in Education Market

DALLAS--(BUSINESS WIRE)--Tyler Technologies, Inc. (NYSE: TYL - News) announced today that it has completed the acquisitions of two software companies that expand its presence in the education market, VersaTrans Solutions Incorporated (VersaTrans) and Olympia Computing Company, Inc. d/b/a “Schoolmaster” (Schoolmaster).

The combined purchase price for the two companies, net of cash acquired, was approximately $16 million, comprised of approximately $14 million in cash and 126,000 shares of Tyler common stock. The two companies had combined revenues of approximately $13 million in 2007. In addition to significantly broadening Tyler’s customer base in the K-12 school market, the acquisitions provide new solutions in Tyler’s suite of education management software. These products are expected to complement Tyler’s existing offerings for school districts, including financial management and student information solutions.

VersaTrans is the leading provider of student transportation management software solutions for school districts and school transportation providers across North America, including solutions for school bus routing and planning, redistricting, GPS fleet tracking, fleet maintenance and field trip planning. VersaTrans was founded in 1981 and has installed systems in more than 1,300 public school districts. VersaTrans is located in Latham, New York.

Schoolmaster provides a full suite of student information systems, which manage such functions as grading, attendance, scheduling, guidance, health, admissions and fund raising. Schoolmaster was founded in 1979 and is located in Tumwater, Washington. Schoolmaster’s software is used in more than 1,900 schools in 40 states, with a particularly strong presence in the western United States.

“We are pleased to announce the acquisitions of VersaTrans and Schoolmaster and to welcome their professionals and clients to the Tyler family,” commented John S. Marr, Jr., Tyler’s president and chief executive officer. “These two established companies have leading products, excellent reputations for quality, established customer bases and reliable revenues. Tyler is committed to expanding our solid and growing presence in the school market, and these companies provide us with subject matter expertise and management strength to help us achieve our goals. These are great examples of our strategy to complement above-market internal growth with strategic acquisitions that leverage our existing infrastructure.”

Douglas Hamlin, president and chief executive officer of VersaTrans, commented, “This is a truly exciting development for VersaTrans’ clients and employees. In Tyler we have found a company that shares not only our technology vision, but also the values and beliefs that have made VersaTrans a unique and successful company.”

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 make local government more accessible to the public, more responsive to needs of citizens, and more efficient. Tyler’s client base includes more than 6,000 local government offices throughout all 50 states, Canada, Puerto Rico and the United Kingdom. Tyler has been named one of “America’s 200 Best Small Companies” by Forbes Magazine and one of “America’s 100 Most Trustworthy Companies” by Audit Integrity, an independent research firm. More information about Tyler Technologies can be found at www.tylertech.com.

Tyler Technologies, Inc. has included in this press release “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 concerning its business and operations. Tyler Technologies expressly disclaims any obligation to release publicly any updates or revisions to these forward-looking statements to reflect any change in its expectations. These expectations and the related statements are inherently subject to risks and uncertainties that could cause actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to, changes in competition, changes in general economic conditions, changes in the budgets and regulatory environments of the Company’s customers, risks associated with the development of new products and the enhancement of existing products, the ability to attract and retain qualified personnel, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission.

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