Maxim Group Upgrades Tyler Tech (TYL) to Buy
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October 2, 2015 8:08 AM EDT
Needham & Company reiterated a Buy rating on Tyler Tech (NYSE: TYL), and raised the price target to $185.00 (from $160.00), following announced acquisition of New World Systems. The transaction will comprise $360mm in cash and 2.1mm new shares.
Analyst Scott Berg commented, "Tyler announced the... More
October 1, 2015 8:08 AM EDT
Tyler Technologies, Inc. (NYSE: TYL) 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 Tylers 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 Tylers strategy of being an industry leader in all major... More
