End-to-end information management company Tyler Technologies has agreed to acquire Socrata, a data-driven platform for accelerating digital government.
This acquisition will provide Tyler public-sector clients, which includes ERP/financial, community development, justice and public safety, to analyse and take action upon their data. The platform will use its analytics to support local governments understand bottlenecks and create predictive models.
Socrata is an open data solution provider for governments, offering a cloud-based data integration, visualisation, analysis and reporting solutions to improve financial insights and citizen engagement. The platform helps varying levels of governments with their cost efficiency, operational and financial insights, and deeper transparency and accountability.
Tyler is an end-to-end information solution that enables public sector bodies to become more efficient. The company offers a range of different products which can help organisations across the public sector with tasks such as payroll, budgeting, fund allocating, electronic filing, civil processing and workforce management.
Socrata will bring in a selection of Tier 0 and Tier 1 clients such as the Michigan State Budget Office, the Utah Department of Transportation, and general administration offices in a number of states. The company generated revenues of around $25m in the most recent fiscal year.
As part of the transaction, Socrata senior leadership team is expected to join Tyler, along with the rest of its team. Tyler will continue to operate across its Renton, Washington office and Socrata Seattle office.
Lynn Moore president Tyler said, “We are especially excited about accelerating and advancing our long-term Connected Communities vision through the data sharing and analytical capabilities of the robust Socrata platform. Our combined offering will enable public sector leaders to use data to improve program outcomes at the local, county, and state-wide levels.”
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