Benzinga | Mar 31, 2021 11:09AM EDT

Tyler Technologies Acquires Veterans' Claim Management Software Firm DataSpec For Undisclosed Sum

* Integrated software and technology services provider Tyler Technologies Inc (NYSE: TYL) acquired veteran claim management company DataSpec.

* DataSpec's web-based, veterans' claims management system, VetraSpec, is software-as-a-service (SaaS)-based and offers secure electronic claims submission to the federal Department of Veterans Affairs (VA) and reporting abilities apart from scheduling, calendaring, and payments.

* The financial terms of the transaction were not disclosed.

* This acquisition will consolidate Tyler's position in the veterans' benefits management solutions market. Tyler will also develop its veteran-focused software offerings to Veterans Affairs (VA) departments in additional states.

* TYL recently acquired digital government solutions and payments company NIC Inc (NASDAQ: EGOV) for $2.3 billion in cash.

* The company held cash and investments worth $758.5 million as of Dec. 31, 2020.

* Price action: TYL shares traded higher by 2.65% at $425.2 on the last check Wednesday.