Tyler Technologies, Inc. (NYSE: TYL), a provider of end-to-end information management solutions and services for local governments, is to acquire Socrata, Inc., a Seattle-based venture-backed technology company, focused exclusively on accelerating the shift to digital government.
The expected closing date is April 30, 2018.
Founded in 2007 by CEO Kevin Merritt, Socrata provides open data and data-as-a-service solutions for government, providing cloud-based data integration, visualization, analysis, and reporting solutions for state, local and federal governments and agencies, as well as internationally, to improve their performance, increase accountability, gain financial insights, and extend citizen engagement.
The company, which employs approximately 150 people, will bring clients, such as the Michigan State Budget Office, the Utah Department of Transportation, and general administration offices for several states, including Texas, New York, Illinois, and Pennsylvania.
Socrata had revenues of approximately $25 million in its most recent fiscal year.
With this acquisition, Tyler’s clients in every public sector vertical, including justice, public safety, ERP/financial, and community development, will have the opportunity to make their data discoverable, usable and actionable, while including data from other jurisdictions to make analytics more meaningful. The data-as-a-service solution will go beyond typical analytics to allow local government to understand procedural bottlenecks and create predictive models that will assist in improving government operations.
Socrata’s senior leadership team is expected to join Tyler’s team, along with substantially all the company’s employees. Tyler will continue to maintain Socrata’s Seattle office, as well as Tyler’s Renton, Washington, office.