VendEngine’s Cloud-Based Platform Provides
Comprehensive Solutions to Better Serve Incarcerated Individuals
and Their Families
Tyler Technologies, Inc. (NYSE: TYL) today announced that it
signed an agreement to acquire VendEngine, a privately-held
cloud-based software provider focused on financial technology for
the corrections market. The purchase price is approximately $84
million in cash, subject to certain customary adjustments at
closing. Together, Tyler and VendEngine will be better able to
respond to the evolving needs of local and state government
agencies, and the residents they serve.
Operating in more than 230 counties and 32 states, VendEngine is
differentiated by its transparent approach and focus on making a
positive impact on the corrections market by better supporting
incarcerated individuals and their families. The company provides
essential tools and services for incarcerated people and their
families—such as trust accounting and digital messaging
services—and their modular-based comprehensive suite of
applications plugs into most facility management systems. Many key
services are provided at no cost to incarcerated individuals or
their families, including free inbound emails and texts, onsite
video visitation, medical requests, access to education,
certificates and legal research resources, and trust management and
grievance management for incarcerated people.
Video visitations play an important role helping inmates stay
connected with family and friends, especially during the pandemic
when in-person visitation was restricted. Studies have shown that
staying connected to loved ones reduces recidivism by maintaining
incarcerated people’s relationships with family and friends on the
outside.1 In March 2020, VendEngine introduced an emergency program
to expand support networks of families and friends for incarcerated
individuals during the COVID-19 pandemic, including providing more
than 40 million free connections – texts, emails and video
visitation – to incarcerated individuals across the nation. These
services will continue throughout 2021.
Additionally, to ease reentry into society, VendEngine provides
incarcerated individuals with educational opportunities and
solutions, such as certification and degree programs through
third-party partnerships, as well as video documentaries, a library
of e-books and workforce development applications.
“With a shared focus on leveraging technology to improve
communities, a market-leading solution set, and a best-in-class
team, VendEngine is the ideal partner for Tyler,” said Rusty Smith,
president of the Courts & Justice Division at Tyler. “We are
excited about the significant opportunities ahead as we leverage
our scale and resources to drive innovation and bring an expanded
set of offerings to clients, incarcerated individuals, and their
families. We are thrilled to welcome the VendEngine team to the
Tyler family.”
Together, Tyler and VendEngine will provide a complete and
robust cloud-based technology system. The transaction provides
significant opportunities for continued innovation and expansion of
offerings in Tyler’s corrections suite. Additionally, Tyler will
maintain VendEngine’s commitment to providing essential services at
a fair rate to ease the burden on those incarcerated and their
families – while providing leading solutions for jails and
correctional facilities to support safety and their daily
responsibilities.
“This transaction is a testament to what we have built over the
past decade, driven by a commitment to leveraging technology to
build better communities and provide hope to incarcerated
individuals and their families,” said Silas Deane, president &
CEO of VendEngine. “We are confident that Tyler is the perfect
match for VendEngine. Importantly, Tyler shares our core values of
integrity, focus, community, inclusion, growth, and accountability,
with a deep commitment to their clients and each other. We look
forward to accelerating our growth in partnership with Tyler as we
advance our goals of making a positive impact on the corrections
market, supporting incarcerated individuals toward success and
reducing national recidivism rates.”
After closing, which is expected in the third quarter subject to
customary closing conditions, Mr. Deane, a member of the Technology
Advisory Council for the International Corrections & Prisons
Association, will serve as general manager, supported by the
current VendEngine leadership team. The VendEngine business unit
will continue to be based in Nashville.
About Tyler Technologies, Inc.
Tyler Technologies (NYSE: TYL) provides integrated software and
technology services to 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 27,000 successful installations
across more than 11,000 sites, with clients in all 50 states,
Canada, the Caribbean, Australia, and other international
locations. Tyler has been named to Government Technology's GovTech
100 list five times and has been recognized three times on Forbes'
"Most Innovative Growth Companies" list. More information about
Tyler Technologies, an S&P 500 company headquartered in Plano,
Texas, can be found at tylertech.com.
About VendEngine
VendEngine is a cloud-based technology provider specifically
focused on financial technology for the corrections market. The
Nashville, Tennessee-based company provides a suite of financial
and communications applications ranging from deposit technologies
for commissary, ordering, and warehouse technology to a host of
informational, electronic communications, security, accounting, and
financial trust management components for more than 300
correctional facilities across 32 states and the Caribbean. For
more information, visit www.VendEngine.com or download the free
VendEngine JailFunds app in the Apple or Android app stores
1 Minnesota Department of Corrections, The Effects of Prison
Visitation on Offender Recidivism (St. Paul, MN: Minnesota
Department of Corrections, November 2011), p 27. Accessed on May
25, 2021 from:
http://www.doc.state.mn.us/pages/files/large-files/Publications/11-11MNPrisonVisitationStudy.pdf
.
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version on businesswire.com: https://www.businesswire.com/news/home/20210603005575/en/
Tyler: Rikki Ragland Tyler
Technologies 972-713-3770 media.inquiries@tylertech.com
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