VersaTrans acquired by Tyler Technologies in Dallas

VersaTrans Solutions Inc., a Latham company that makes bus-routing software, has been acquired by Tyler Technologies Inc., a public company in Dallas.

Tyler (NYSE: TYL - News) also acquired a second software company, Olympia Computing Co., based in Turnwater, Wash. Tyler said the two companies were acquired for a combined $16 million.

The two companies had a combined revenue of $13 million in 2007. VersaTrans reported having $9.1 million in revenue in 2007.

Olympia makes software related to the reporting of student information. It is used by 16,000 educators across the country. VersaTrans makes bus-routing software for 1,300 public school districts.

Tyler said the two acquisitions were designed to broaden its customer base in the K-12 market. Tyler makes products related to financial management and student information.

VersaTrans CEO Doug Hamlin said being acquired by Tyler was an exciting development for the company and its clients because Tyler shares VersaTrans' vision and values.

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