TYLER TECHNOLOGIES UNIT SIGNS MULTIMILLION-DOLLAR OUTSOURCING CONTRACT
FOR LAKE COUNTY, INDIANA |
Dallas, Texas, February 27, 2002 - Tyler Technologies, Inc. (NYSE: TYL) announced today that its Cole Layer Trumble (CLT) division has entered into a subcontract with Arthur Andersen LLP to provide reassessment outsourcing services and related technology for Lake County, Indiana. CLT will work with Andersen to provide professional services and technology to reassess most of the real property in Lake County. CLT's responsibilities comprise more than half of the $23.8 million total contract with the state of Indiana. CLT expects to complete its work under the contract in late 2003.
Lake County, which includes the cities of Gary and Hammond, has a population of approximately 485,000 and is the second largest county in the state of Indiana. Eleven other counties in Indiana have also contracted with CLT for reassessment outsourcing services during Indiana's current reassessment cycle.
CLT is an industry leader in incorporating technological advancements in the reappraisal process, including the use of advanced software to manage the flow of data, automate the compilation of work documents and allow users to monitor production and resources on large projects such as Lake County. CLT's experienced team on the Lake County project will use proprietary processes and sophisticated computer analysis to determine current property valuations and prepare tax rolls. In addition, the contract includes the sale of Tyler's Landisc photo imaging software, which will be used to maintain a digital image database of each property in the county.
Ruel Williamson, Chief Operating Officer of Tyler's CLT division, commented, "We are pleased to play such a significant role in this important project for Lake County. We have been very successful in signing new reassessment outsourcing business in Indiana over the last year, and we are well positioned to undertake this very challenging and exciting project.
"Our reassessment outsourcing business continues to show strength and reflects our reputation for high quality service," continued Mr. Williamson.
"Through our partnerships with local governments across the country, we provide the technology and services to help ensure that our clients' major funding source, the property tax, is administered fairly and efficiently."
Tyler's CLT division is the nation's largest provider of mass appraisal and property tax software and reassessment outsourcing services. Since its founding in 1938, CLT has provided appraisal outsourcing services and property tax administration software to over 1,200 assessing jurisdictions in the United States and Canada.
Based in Dallas, Tyler Technologies is a leading provider of end-to-end information management solutions and e-government services to local governments. Tyler partners with clients to make local government more accessible to the public, more responsive to needs of citizens, and more efficient. Tyler's client base includes nearly 6,000 local government offices in 49 states, Canada and Puerto Rico. More information about Tyler Technologies can be found on the World Wide Web at www.tylertechnologies.com.
Tyler Technologies, Inc. has included in this press release "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 concerning its business and operations. Tyler Technologies expressly disclaims any obligation to release publicly any updates or revisions to these forward-looking statements to reflect any change in its expectations. These expectations and the related statements are inherently subject to risks and uncertainties that could cause actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to, changes in competition, changes in general economic conditions, changes in the budgets and regulatory environments of the Company's customers, risks associated with the development of new products and the enhancement of existing products, the ability to attract and retain qualified personnel, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
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Feb 27, 2002 |
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