Tyler Technologies Pays $670M For New World Systems

Plano, Texas-based government software developer Tyler Technologies announced this morning that it has acquired New World Systems, a developer of public safety and financial software local government, for $670M in cash and stock. New World Systems was based in Troy, Michigan, and had more than 470 employees. According to Tyler Technologies, the deal will further strengthen its ability to provide software to state and local governments. Tyler will pay $360M in cash and approximately 2.1 million shares of its common stock for New World Systems.