In a merger of companies that primarily provide accounting technology to schools, Dallas-based Tyler Technologies Inc. announced that it has acquired Bangor, Maine’s Advanced Data Systems Inc.Publicly-traded Tyler said that it had acquired all of ADS’s common stock, as well as an office building used in the business, for approximately $4.2 million in cash. ADS develops and sells fund accounting solutions, primarily in New England.
Founded in 1980, ADS currently has approximately 200 installations, with a particularly strong presence serving school districts. ADS had revenues of about $3 million in 2006.
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