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.
Tyler has a strong presence in the school market with its Education Management and Munis Financial Management solutions. Munis serves the complex needs of midsized to large schools and districts, while the ADS software targets small to midsized schools and districts. Tyler's client base includes more than 6,000 local government offices throughout all 50 states, as well as international clients in Canada, Puerto Rico and the United Kingdom.
With the national sales channel provided by Tyler, the company hopes that the ADS solutions are positioned to gain market share outside the company’s traditional New England market.
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