Tyler Technologies (NYSE: TYL) has closed its purchase of NIC (Nasdaq: EGOV) as part of efforts to expand the delivery of technology platforms and services to public sector stakeholders.
NIC CEO Harry Herington will retire and the rest of the company’s leadership team will continue to oversee operations through NIC’s headquarters in Olathe, Kansas, as Tyler works on an integration plan for the combined entity, the companies said in a joint release published Wednesday.
“Harry’s contributions to NIC over nearly three decades have helped to define the future of the government technology and services industry, in addition to building an outstanding team of professionals who embrace innovation and are motivated by a culture of caring,” said Lynn Moore, president and CEO of Tyler Technologies.
In February, Tyler signed a $2.3 billion all-cash transaction to acquire NIC as part of a push to broaden the delivery of end-to-end platforms to federal, state and local governments.
NIC offers digital platforms and payment services to more than 7,100 U.S. federal, local and state government agencies. In 2020, the company processed more than $24 billion on behalf of agencies and citizens.
“Tyler and NIC share a vision for connecting communities and bringing more efficient and accessible technology solutions to citizens,” said Moore.
