Yahoo Finance Tyler (TYL) Strengthens Appraisal Services With Safeground Buyout
Tyler Technologies TYL recently revealed that it has acquired a Massachusetts-based analytics company offering exemplary real estate appraisals and assessments for states, counties and municipalities — Safeground Analytics.
With this buyout, Tyler intends to accelerate its appraisal services businesses by bringing in a team of experienced appraisers, analysts, statisticians, economists, computer scientists and assessors from Safeground Analytics. The analytics company will offer TYL residential and commercial reassessments and deliver litigation support, expert witness testimony solutions for property appraisal matters, auditing and monitoring services.
Safeground and Tyler have been working on several multifaceted valuation projects in New England for more than seven years. Safeground Analytics possesses strong client retention, deep appraisal experience with complex commercial properties and is committed to providing education training courses to the assessors. All these are likely to strengthen and stretch Tyler’s professional services suite to the assessment community.
John Valente, the founder of Safeground Analytics, will be serving as Northeast Regional Appraisal Manager at present. The Safeground employees will be joining Tyler’s Property & Recording Division remotely from New England.
Tyler Technologies, Inc. Price and Consensus
Tyler Technologies, Inc. price-consensus-chart | Tyler Technologies, Inc. Quote
Tyler has been pursuing strategic takeovers to broaden its product and service offerings, enter new markets related to local governments, attract clients and expand geographically. In May 2022, Tyler acquired Quatred, a systems integrator and solution provider that assists clients by implementing advanced touchless technologies, including barcoding.
Prior to that, in February 2022, the company acquired U.S. eDirect, a market-leading provider of technology solutions for campground and outdoor recreation management. In September 2021, Tyler acquired Arx, a cloud-based software platform creating accessible technology to enable a modern-day police force that is fully transparent, accountable and a trusted resource to the community it serves, and VendEngine, a cloud-based software provider focused on financial technology for the corrections market.
In the same year, Tyler completed the acquisition of payments company, NIC Inc., electronic management of veterans' claims provider, DataSpec and cloud-based school scheduling platform, ReadySub. The buyouts expanded the company’s footprint into a SaaS-based jury-management system, case management and business process management. However, the company faces significant integration risks due to frequent acquisitions.
Zacks Rank & Stocks to Consider
Tyler carries a Zacks Rank #3 (Hold). Shares of TYL have dropped 25.1% over the past year.
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