October 30, 2019
Portico Capital Securities LLC is pleased to announce that it served as the exclusive financial adviser to Courthouse Technologies on its sale to Tyler Technologies. “It was a pleasure working with the Courthouse team,” said Casey Hofmeister, Managing Director at Portico Capital. “CHT's software platform, with the most function-rich, technologically advanced, and industry's first web-based jury management system, will meaningfully enhance Tyler's Courts & Justice offerings.”
A more detailed description of the transaction is included with the Company’s press release below:
Tyler Technologies Acquires Courthouse Technologies
PLANO, Texas--Tyler Technologies Inc. (NYSE: TYL) today announced it has acquired Courthouse Technologies (CHT), an industry leading provider of jury management systems. CHT will complement and elevate Tyler’s software offerings for domestic and international court clients.
“The acquisition of Courthouse Technologies strengthens Tyler’s courts and justice portfolio to better serve our clients and their communities,” said Lynn Moore, president and chief executive officer of Tyler. “In our view, CHT is the strongest solution for jury management in the market, and we look forward to enabling courts to make their jury operations more efficient.”
Founded in 2005, CHT was the first company to develop a commercial-off-the-shelf web application for jury management. Today, it offers the industry’s only fully integrated, end-to-end software-as-a-service (SaaS) solution to manage all facets of juror management from source list generation to juror processing and payment. The turnkey solution helps courts meet specific requirements and jury goals including optimizing workflow efficiencies, increasing juror yield, improving juror experience, and generating tangible cost savings.
“Courthouse and Tyler are both leaders in the courts and justice market,” said Scott Kerr, founder of CHT. “We are excited to become part of a larger company that shares our vision for technology in this space, our company culture, and our strong client retention rate. We look forward to seeing the positive impact we will make together to the courts and justice market.”
CHT’s solution serves court systems of all sizes and is used by a diverse client base spanning 60 U.S. counties, 18 U.S. states (including five statewide agreements), and two Canadian provinces.
Co-founded by Scott Kerr and Paul Arntsen, CHT is headquartered in Vancouver, British Columbia, in Canada. CHT management and staff will become part of Tyler’s Courts & Justice Division and its current employees are expected to remain in the current office space in Vancouver. Founder Scott Kerr will lead the business unit as general manager.
Portico Capital Securities served as exclusive financial advisor to Courthouse Technologies with respect to this transaction.
About Tyler Technologies, Inc.
Tyler Technologies (NYSE: TYL) is the largest and most established provider of integrated software and technology services focused on the public sector. Tyler’s end-to-end solutions empower local, state, and federal government entities to operate more efficiently and connect more transparently with their constituents and with each other. By connecting data and processes across disparate systems, Tyler’s solutions are transforming how clients gain actionable insights that solve problems in their communities. Tyler has more than 21,000 successful installations across 10,000 sites, with clients in all 50 states, Canada, the Caribbean, Australia, and other international locations. A financially strong company, Tyler has achieved double-digit revenue growth every quarter since 2012. It was also named to Forbes’ “Best Midsize Employers” list in 2018 and recognized twice on its “Most Innovative Growth Companies” list. More information about Tyler Technologies, headquartered in Plano, Texas, can be found at tylertech.com.
About Portico Capital
Portico Capital provides independent strategic and financial advisory services in the areas of mergers & acquisitions (M&A), recapitalizations and capital raisings exclusively to private and public companies in the global information and business services/software sector. The firm, founded in 2000, has offices in Greenwich, Connecticut; New York, New York; and London, England. For more information, please visit www.porticocapital.com.
Casey N. Hofmeister, Managing Director