Tyler Technologies Acquires Veterans' Claim Management Software Firm DataSpec For Undisclosed Sum

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  • Integrated software and technology services provider Tyler Technologies Inc TYL acquired veteran claim management company DataSpec.
  • DataSpec’s web-based, veterans’ claims management system, VetraSpec, is software-as-a-service (SaaS)-based and offers secure electronic claims submission to the federal Department of Veterans Affairs (VA) and reporting abilities apart from scheduling, calendaring, and payments.
  • The financial terms of the transaction were not disclosed.
  • This acquisition will consolidate Tyler’s position in the veterans’ benefits management solutions market. Tyler will also develop its veteran-focused software offerings to Veterans Affairs (VA) departments in additional states.
  • TYL recently acquired digital government solutions and payments company NIC Inc EGOV for $2.3 billion in cash.
  • The company held cash and investments worth $758.5 million as of Dec. 31, 2020.
  • Price action: TYL shares traded higher by 2.65% at $425.2 on the last check Wednesday.
Posted In: M&ANewsTechMedia
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