Tyler Technologies Acquires Veterans' Claim Management Software Firm DataSpec For Undisclosed Sum

Integrated software and technology services provider Tyler Technologies Inc TYL acquired veteran claim management company DataSpec.
DataSpec’s web-based, veterans’ claims management system, VetraSpec, is software-as-a-service (SaaS)-based and offers secure electronic claims submission to the federal Department of Veterans Affairs (VA) and reporting abilities apart from scheduling, calendaring, and payments.
The financial terms of the transaction were not disclosed.
This acquisition will consolidate Tyler’s position in the veterans’ benefits management solutions market. Tyler will also develop its veteran-focused software offerings to Veterans Affairs (VA) departments in additional states.
TYL recently acquired digital government solutions and payments company NIC Inc EGOV for $2.3 billion in cash.
The company held cash and investments worth $758.5 million as of Dec. 31, 2020.
Price action: TYL shares traded higher by 2.65% at $425.2 on the last check Wednesday.

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