Tyler Technologies Acquires Sage Data Security
01 Maggio 2018 - 3:17PM
Business Wire
Acquisition elevates Tyler’s cybersecurity
offerings to further protect client data
Tyler Technologies, Inc. (NYSE: TYL) today announced it has
acquired Sage Data Security, LLC, leading experts in cybersecurity.
Sage offers a suite of services that supports an entire
cybersecurity lifecycle, including program development, education
and training, threat detection, technology testing, advisory
services, and digital forensics.
“The acquisition of Sage enables Tyler to be as proactive as
possible in offering data security expertise and services, as risks
to data are becoming more prevalent across all industries,
including the public sector,” said Lynn Moore, president of Tyler.
“With the addition of Sage and its core product for managed threat
detection, nDiscovery, Tyler clients will have the opportunity to
add an additional layer of security in a cost-effective way. We
look forward to bringing even more security to our clients through
this complementary offering.”
Sage currently delivers three primary offerings to approximately
240 clients in the healthcare, financial, retail, education, and
government sectors.
Sage’s main security offerings include:
- Advisory services, which include
developing risk assurance policies and consulting to clients when
their data may have been compromised.
- Assurance services, often referred to
as white hats or ethical hackers, which assess systems for
vulnerabilities and conduct simulated attacks. The results are used
to develop a mediation plan.
- Threat detection, which is the software
used in conjunction with experts who review daily logs for new
threats in the network environment.
The acquisition of Sage will allow Tyler to provide clients with
unique cybersecurity services that further protect their
investments in Tyler solutions. Sage’s nDiscovery offering pairs
well with Tyler’s solutions and allows the company to provide
additional value to our clients to manage cyberattacks and data
security issues as cybersecurity threats grow in scope and
sophistication. Currently, Tyler’s ERP & School Division uses
Sage’s services in its SaaS environment.
“We are very excited at the opportunity to join Tyler
Technologies. Our mission has been to protect the nation’s critical
digital infrastructure. Until now, we have focused primarily on
financial and healthcare verticals. Becoming part of Tyler allows
Sage the opportunity to offer our expertise more broadly to the
public sector,” said Rick Simonds, president of Sage.
Founded in 2002, Sage is headquartered in Portland, Maine, and
employs 45 people. Sage management and staff will become part of
Tyler’s ERP & School Division, and a new independent department
for client data security will be created. Sage’s current employees
are expected to remain in its current office space in Portland,
Maine, and Sage’s president, Rick Simonds, will continue to lead
Sage within Tyler.
Tyler also announced that it has completed the previously
announced acquisition of Socrata, Inc., for a cash purchase price
of $150 million, subject to net working capital and net debt
adjustments. Both the Socrata and Sage acquisitions were effective
April 30, and were funded through Tyler’s existing cash
balances.
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 their constituents. Tyler's client base includes more
than 15,000 local government offices in all 50 states, Canada, the
Caribbean, Australia, and other international locations. In 2017,
Forbes ranked Tyler on its "Most Innovative Growth Companies" list,
and Fortune included Tyler on its "100 Fastest-Growing Companies"
list. More information about Tyler Technologies, headquartered in
Plano, Texas, can be found at www.tylertech.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20180501005126/en/
Tyler TechnologiesJennifer Kepler,
972-713-3770Jennifer.Kepler@tylertech.com
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