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Tyler Technologies to Acquire New World Systems Corporation

Date: 2015-10-05
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Tyler Technologies, Inc. has announced it has signed a definitive agreement to acquire privately held New World Systems Corporation for $670 million in cash and stock. New World Systems, a leading provider of public safety and financial solutions for local governments, will bring an important element to Tyler’s portfolio of solutions.

Founded in 1981 by president and CEO Larry D. Leinweber, the Troy, Michigan-based company has more than 2,000 public sector customers and more than 470 employees. The companies are highly complementary, and combining them supports Tyler’s strategy of being an industry leader in all major enterprise applications essential to local government.

New World Systems’ principal products are Aegis™, a comprehensive public safety suite for dispatch centers, police officers, firefighters, paramedics, corrections officers, command staff, and all first responders, and Logos™, a suite of public administration software that meets the accounting needs of city and county governments. Public safety represents approximately 67 percent of New World Systems’ revenues.

Under the terms of the agreement, Tyler will acquire all of the equity in New World Systems for $360 million in cash and approximately 2.1 million shares of Tyler’s common stock, representing approximately 5.9 percent of Tyler’s outstanding common shares post transaction, subject to customary post-closing adjustments. The cash portion of the purchase price will be funded from cash on hand and proceeds from a new revolving credit facility. The transaction is expected to close in the fourth quarter of 2015 and is subject to regulatory approval and customary closing conditions. Leinweber will join Tyler’s board of directors upon the closing of the transaction.

“Acquiring New World Systems is a highly strategic and growth-oriented decision, and we plan to invest in their products and find new opportunities both in our combined client bases and in markets where they currently are most competitive,” said John S. Marr Jr., Tyler’s president and CEO. “We will also explore growth opportunities from offering enhanced services such as software as a service (SaaS), disaster recovery services and other existing Tyler products to New World Systems’ installed customer base.”

Tyler plans to integrate its Odyssey® courts and justice solution with the Aegis public safety platform to create a unique end-to-end enterprise criminal justice solution.

While New World Systems is Tyler’s largest acquisition to date, Tyler has a long and successful track record of creating value through inorganic growth. There are no plans to materially impact either company’s workforce, and New World Systems’ headquarters in Michigan is expected to continue to operate virtually unchanged.

“I certainly see this transaction as an opportunity for New World Systems employees and clients to benefit from the kind of investments and vision that Tyler Technologies brings to bear,” said Larry D. Leinweber, founder, president and CEO of New World Systems. “Both companies operate and have grown in a very responsible manner, our products are strong, we deliver good financial results and have high client retention. Tyler and New World Systems are complementary in so many ways that it’s hard to see anything but tremendous opportunity for employees, clients and investors alike.”

For more information, see and

- Corporate News/ (via Tyler Technologies, 10/1/15)



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