Tyler Technologies Acquires DataSpec
Acquisition positions Tyler as the market leader of electronic veterans’ claims solutions
PLANO, Texas (March 31, 2021) – Rua Associates is pleased to announce the successful sale of Data Spec to Tyler Technologies. Rua Associates proudly served as the exclusive mergers and acquisitions representative for DataSpec.
Tyler Technologies, Inc. (NYSE: TYL) has acquired DataSpec, a market leader dedicated to providing better electronic management of veterans’ claims. The acquisition offers existing DataSpec clients the strength and stability of Tyler, as well as a simple path forward to a next generation of technology.
DataSpec’s web-based, software-as-a-service (SaaS) veterans’ claims management system, VetraSpec, is the current market share leader. The solution allows for secure electronic claims submission to the federal Department of Veterans Affairs (VA) and reporting capabilities, in addition to scheduling, calendaring, and payments. DataSpec offers county, state, and national versions of VetraSpec, with state solutions making up the majority of implementations. The solution allows state departments to execute and analyze reports on the entire state, individual offices, regions and districts, and individual users.
Tyler has a similar veterans’ benefits solution based on the Entellitrak® platform that uses newer technology. Tyler’s Veterans Benefits™ solution will provide VetraSpec clients a great migration path when they are ready and, in the meantime, Tyler will continue to support them on the VetraSpec platform. Tyler’s Entellitrak is a low-code application development platform for case management that is purpose-built for the public sector.
“We are excited about our new relationship with Tyler Technologies,” said Ann Graham, vice president of DataSpec. “We are happy that our 5,000 users will be in good hands with a stable and innovative company like Tyler who will provide them a path forward with a modern veterans’ benefits solution, as well as providing other solutions for veteran’s service organizations.”
This acquisition will position Tyler as the new market leader in veterans’ benefits management solutions. Tyler also has the opportunity to expand its veteran-focused software offerings to VA departments in additional states.
“DataSpec is a good fit with Tyler’s acquisition philosophy, which includes adding best-of-breed companies and products that complement our current offerings,” said Lynn Moore, president and chief executive office of Tyler. “By acquiring DataSpec’s client base, Tyler will be able to provide Veterans’ Affairs clients with a premier solution for better management of veterans’ claims. We look forward to incorporating DataSpec’s expertise and experience while offering their clients a solution with a more modern technology stack and more powerful and flexible reporting features.”
DataSpec’s clients include veteran’s service organizations, 32 state departments of Veteran’s Affairs, VA attorneys, as well as hundreds of counties and municipalities. It has a base of more than 5,000 users across the United States.
DataSpec was founded in 2007 and currently has four employees, who will continue to work remotely as part of Tyler’s Federal Division.
About Tyler Technologies, Inc.
Tyler Technologies (NYSE: TYL) provides integrated software and technology services to the public sector. Tyler’s end-to-end solutions empower local, state, and federal government entities to operate more efficiently and connect more transparently with their constituents and with each other. By connecting data and processes across disparate systems, Tyler’s solutions are transforming how clients gain actionable insights that solve problems in their communities. Tyler has more than 27,000 successful installations across more than 11,000 sites, with clients in all 50 states, Canada, the Caribbean, Australia, and other international locations. Tyler has been named to Government Technology’s GovTech 100 list five times and has been recognized three times on Forbes’ “Most Innovative Growth Companies” list. More information about Tyler Technologies, an S&P 500 company headquartered in Plano, Texas, can be found at tylertech.com.
About Rua Associates
Rua Associates is a distinguished mergers and acquisition service provider headquartered in West Michigan and serves clients throughout Michigan and the Midwest. Their passion is discerning and exceeding client expectations through successful and timely business transactions. Rua Associates offers a complete array of professional buy and sell-side business brokers services, which includes corporate M&A outsourcing, to a growing network of clientele. For additional information, please visit https://ruaassociates.com/.
