Tyler Technologies Inc., a Texas-based information technology provider with major operations in Maine, has acquired Portland cybersecurity firm Sage Data Security LLC for an undisclosed sum, the two companies said Tuesday.
Founded in 2002, Sage employs 45 people and provides a variety of cybersecurity services, including program development, education and training, threat detection, technology testing, advisory services and digital forensics.
Based in Plano, Texas, Tyler provides information management services to local government entities, including cities, counties and schools. Its client base includes more than 15,000 local government offices in all 50 states, Canada, the Caribbean, Australia and other international locations.
In January, it completed a $28 million expansion in Yarmouth and announced plans to hire up to 500 people by 2025.
MERGING STAFF, NEW DEPARTMENT
In 2017, Forbes magazine ranked Tyler on its Most Innovative Growth Companies list, and Fortune magazine included Tyler on its 100 Fastest-Growing Companies list.
Tyler Technologies, which added this cafeteria when it expanded in Yarmouth, plans to hire up to 500 by 2025. Staff file photo by Gregory Rec
Under the terms of the acquisition, Sage management and staff will become part of Tyler’s ERP and school division, and a new independent department for client data security will be created, the companies said. ERP stands for “enterprise resource planning,” which encompasses the systems and software used by organizations to manage daily activities such as managing budgets, generating payroll for employees and collecting revenues.
Tyler’s ERP and school division already uses Sage’s services in its subscription-based “software as a service” environment, they said.
“The acquisition of Sage enables Tyler to be as proactive as possible in offering data security expertise and services, as risks to data are becoming more prevalent across all industries, including the public sector,” Tyler President Lynn Moore said in a prepared statement. “With the addition of Sage and its core product for managed threat detection, nDiscovery, Tyler clients will have the opportunity to add an additional layer of security in a cost-effective way. We look forward to bringing even more security to our clients through this complementary offering.”
Sage’s employees are expected to remain in their current office space in Portland, and Sage’s president, Rick Simonds, will continue to lead them as an employee of Tyler, the companies said. His title will be vice president and general manager of Sage Data Security for Tyler Technologies.
“We are very excited at the opportunity to join Tyler Technologies,” Simonds said in a prepared statement. “Our mission has been to protect the nation’s critical digital infrastructure. Until now, we have focused primarily on financial and health care (industries). Becoming part of Tyler allows Sage the opportunity to offer our expertise more broadly to the public sector.”
‘fantastic’ OPPORTUNITY FOR SAGE
In an interview Tuesday, Simonds said Sage will continue to operate under its own brand, and that employees of the company will not notice any major changes. Sage employees already have a close working relationship with Tyler and its people, he said, adding that his employees gave a “standing ovation” when they received the news Monday.
“It’s just a fantastic opportunity that we’ll be able to expand into the public sector,” Simonds said. “They (Tyler) are a software development company, so we’ll have access to all kinds of resources we currently don’t have.”
Sage will continue offering services to private-sector clients and also add government entities to its customer base, he said.
Tyler is a publicly held company that trades on the Nasdaq exchange under the symbol TYL. The company has more than 700 employees in Yarmouth, Falmouth and Bangor, and over 4,000 employees worldwide.
J. Craig Anderson can be contacted at 791-6390 or at:
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