AGL 38.95 Increased By ▲ 0.47 (1.22%)
AIRLINK 201.02 Decreased By ▼ -2.00 (-0.99%)
BOP 10.09 Decreased By ▼ -0.08 (-0.79%)
CNERGY 6.46 Decreased By ▼ -0.08 (-1.22%)
DCL 9.48 Decreased By ▼ -0.10 (-1.04%)
DFML 39.80 Decreased By ▼ -0.22 (-0.55%)
DGKC 98.80 Increased By ▲ 0.72 (0.73%)
FCCL 35.41 Increased By ▲ 0.45 (1.29%)
FFBL 87.00 Increased By ▲ 0.57 (0.66%)
FFL 13.75 Decreased By ▼ -0.15 (-1.08%)
HUBC 130.98 Decreased By ▼ -0.59 (-0.45%)
HUMNL 13.87 Decreased By ▼ -0.15 (-1.07%)
KEL 5.52 Decreased By ▼ -0.09 (-1.6%)
KOSM 7.41 Increased By ▲ 0.14 (1.93%)
MLCF 46.02 Increased By ▲ 0.43 (0.94%)
NBP 61.50 Decreased By ▼ -4.88 (-7.35%)
OGDC 222.01 Increased By ▲ 1.25 (0.57%)
PAEL 39.00 Increased By ▲ 0.52 (1.35%)
PIBTL 8.75 Decreased By ▼ -0.16 (-1.8%)
PPL 198.51 Increased By ▲ 0.63 (0.32%)
PRL 39.03 No Change ▼ 0.00 (0%)
PTC 25.71 Increased By ▲ 0.24 (0.94%)
SEARL 106.31 Increased By ▲ 3.26 (3.16%)
TELE 8.95 Decreased By ▼ -0.07 (-0.78%)
TOMCL 36.55 Increased By ▲ 0.14 (0.38%)
TPLP 13.98 Increased By ▲ 0.23 (1.67%)
TREET 24.85 Decreased By ▼ -0.27 (-1.07%)
TRG 58.00 Decreased By ▼ -0.04 (-0.07%)
UNITY 33.51 Decreased By ▼ -0.16 (-0.48%)
WTL 1.70 Decreased By ▼ -0.01 (-0.58%)
BR100 11,939 Increased By 48.5 (0.41%)
BR30 37,318 Decreased By -38.9 (-0.1%)
KSE100 110,506 Decreased By -564 (-0.51%)
KSE30 34,694 Decreased By -215.2 (-0.62%)
Technology

Tyler Technologies to buy payments firm NIC for $2.3bn in cash

  • NIC shareholders will receive $34 per share in cash, Tyler said, a premium of about 14% to NIC's last closing price.
  • The pandemic has accelerated the shift by governments to online services and electronic payments as more citizens and businesses are interacting digitally with government.
Published February 10, 2021

Software provider Tyler Technologies Inc said on Wednesday it will buy payments company NIC Inc for about $2.3 billion in an all-cash deal as more people opt for online services and electronic payments.

NIC shareholders will receive $34 per share in cash, Tyler said, a premium of about 14% to NIC's last closing price.

Olathe, Kansas-based NIC provides digital services that make it easier for people and businesses to interact with government agencies. It serves more than 7,100 federal, state and local government agencies in the United States.

"The pandemic has accelerated the shift by governments to online services and electronic payments as more citizens and businesses are interacting digitally with government," Tyler Chief Executive Officer Lynn Moore said.

Tyler plans to fund the deal with a combination of about $700 million of cash and new debt. The deal is expected to add to Tyler's adjusted earnings in 2021.

The transaction is expected to close in the second quarter of 2021.

Comments

Comments are closed.