Tyler Technologies Signs $12.4 Million License Agreement for Odyssey Courts Software With Texas Conference of Urban Counties
23 Marzo 2006 - 2:03PM
PR Newswire (US)
DALLAS, March 23 /PRNewswire-FirstCall/ -- Tyler Technologies, Inc.
(NYSE:TYL) announced today that it has signed a contract to license
its Odyssey court administration software to the Texas Conference
of Urban Counties. The contract includes a software license fee of
$12.4 million, the largest in the Company's history, which is
payable to Tyler over three years. The Texas Conference of Urban
Counties (Urban Counties) is a non-profit organization composed of
34 member counties. Member counties represent nearly 80 percent of
the population of Texas. The Urban Counties supports and
coordinates communications among member counties, studies policies
and programs of the State of Texas that affect urban counties,
advocates county issues, primarily at the state level, and provides
training and educational programs appropriate for urban county
officials. All services and activities are pursued for the benefit
of the people of Texas. Odyssey is Tyler's new generation Web-based
courts and justice solution for the state and local government
market. Under this contract, existing Urban Counties members will
each have the right to adopt Tyler's Odyssey Courts and Odyssey
Prosecutor software applications. Professional fees for
implementation services, modifications and enhancements, as well as
maintenance fees, will be paid by the counties to Tyler as they
individually adopt the software. The agreement also gives Urban
Counties members that adopt the court administration system access
to other applications in Tyler's Odyssey suite of applications,
such as Sheriff, Jail Management and Hot Checks. Counties that
implement other applications will pay additional license,
implementation and maintenance fees for those products. "We are
extremely pleased that the Texas Conference of Urban Counties has
chosen our Odyssey court administration system as the standard for
its member counties, which include the largest counties in the
state," commented Glenn Smith, Executive Vice President of Tyler
Technologies. "This contract represents by far the largest software
license fee in Tyler's history," continued Mr. Smith. "While the
total value of the Urban Counties arrangement will depend on the
number of counties that ultimately adopt Odyssey, we believe that
the Urban Counties relationship could generate total revenues for
Tyler of between $35 million and $40 million over the next few
years. Following the Odyssey contracts signed in the second half of
2005 with two of the nation's ten largest counties -- Miami-Dade
County, Florida and Clark County, Nevada -- this contract adds
significantly to the momentum we have built in the courts and
justice software market." Donald Lee, Executive Director of the
Texas Conference of Urban Counties, stated, "Saving taxpayers money
is what the Urban Counties is all about. Our TechShare program is
about saving money through collaboration. This agreement with
Tyler, through TechShare, gives our member counties access to
state-of- the-art software selected through a fair, open and
competitive process." Based in Dallas, Tyler Technologies is a
leading provider of end-to-end information management solutions and
services for local governments. Tyler partners with clients to make
local government more accessible to the public, more responsive to
needs of citizens, and more efficient. Tyler's client base includes
nearly 6,000 local government offices throughout all 50 states,
Canada, Puerto Rico and the United Kingdom. Forbes Magazine named
Tyler one of the "200 Best Small Companies" in America in 2004.
More information about Tyler Technologies can be found at
http://www.tylerworks.com/ . Tyler Technologies, Inc. has included
in this press release "forward- looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995
concerning its business and operations. Tyler Technologies
expressly disclaims any obligation to release publicly any updates
or revisions to these forward-looking statements to reflect any
change in its expectations. These expectations and the related
statements are inherently subject to risks and uncertainties that
could cause actual results to differ materially from those set
forth in, contemplated by, or underlying the forward-looking
statements. The risks and uncertainties which forward-looking
statements are subject to include, but are not limited to, changes
in competition, changes in general economic conditions, changes in
the budgets and regulatory environments of the Company's customers,
risks associated with the development of new products and the
enhancement of existing products, the ability to attract and retain
qualified personnel, and other risks detailed from time to time in
the Company's filings with the Securities and Exchange Commission.
http://www.newscom.com/cgi-bin/prnh/20020416/TYLLOGO
http://photoarchive.ap.org/ DATASOURCE: Tyler Technologies, Inc.
CONTACT: Brian K. Miller, Senior Vice President - CFO of Tyler
Technologies, Inc., +1-972-713-3720, or Web site:
http://www.tylerworks.com/
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