Benzinga | Mar 31, 2021 09:21AM EDT

Tyler Technologies Says Acquires DataSpec; Terms Not Disclosed

Tyler Technologies, Inc. (NYSE:TYL) today announced that it has acquired DataSpec, a market leader dedicated to providing better electronic management of veterans' claims. DataSpec was developed by sisters Tina Roff and Ann Graham. 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(r) platform that uses newer technology. Tyler's Veterans Benefits(tm) 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.