Tyler Technologies, Inc. (NYSE: TYL) today announced that it has
acquired substantially all of the assets of Akanda Innovation, Inc. of
Toronto, Ontario, Canada. This acquisition is the logical next step in
continuing a partnership that has been in place since 1997, when Akanda
began working with Tyler's Appraisal
& Tax Division developing complementary modules to Tyler's iasWorld®
appraisal and tax software.
The Akanda team will continue to provide expertise from a wide variety
of technical disciplines, including geographic information system (GIS),
browser-based and workflow technologies. The assimilation of Akanda's
staff of approximately 17 professionals into Tyler Technologies is
expected to occur seamlessly and without disruption of ongoing
implementation projects.
"We are excited about bringing Akanda into the Tyler organization," said
Andrew D. Teed, president of Tyler's Appraisal & Tax Division. "This
acquisition will streamline and improve implementation, support and
development processes between our organizations. One of the hallmarks
for Tyler Technologies is excellent customer service, and this agreement
continues our commitment to providing the best service possible to our
clients."
About Tyler Technologies, Inc.
Tyler Technologies (NYSE: TYL) 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
in all 50 states, Canada, the Caribbean and the United Kingdom. Forbes
has named Tyler one of "America's Best Small Companies" four times in
the last five years. More information about Dallas-based 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.
Jetstream PR for Tyler Technologies
Tony Katsulos, 972-788-9456,
ext. 301
katsulos@jetstreampr.com