M&A · Industrials · Services-Business Services, NEC
Tyler Technologies Inc to acquire NIC Inc
Announced Feb 10, 2021 · Closed Apr 21, 2021
Deal value$2.30BEV $2.04B
Premium14.0%To unaffected price
EV / Adj. EBITDA21.7x5.0x EV / Revenue
ConsiderationAll cash$34.00 per share
Transaction
- Acquirer
- Tyler Technologies Inc (TYL)
- Target
- NIC Inc (EGOV)
- Buyer type
- Strategic
- Offer price per share
- $34.00
- Enterprise value
- $2.04B
- Status
- Closed Apr 21, 2021
Deal protections
- Break fee (target pays)
- $55.0M · 2.4%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- Committed · Goldman Sachs
Advisors
- To the acquirer
- Goldman Sachs
- To the target
- TD Cowen
Sector context · Industrials
- Comparable deals
- 9 in the prior 24 months
- Premium
- 14.0% vs. 30.0% sector median
- EV / Adj. EBITDA
- 21.7x vs. 9.4x sector median
- Break fee
- 2.4% vs. 2.4% sector median
Timeline
- AnnouncedFeb 10, 2021
- Proxy filedMar 2, 2021
- Definitive proxyMar 17, 2021
- Shareholder voteApr 19, 2021
- ClosedApr 21, 2021