Tyler Technologies has signed a definitive agreement to acquire Socrata, a Seattle-based venture-backed technology company. The expected closing date is April 30, 2018. Financial terms of the transaction were not disclosed.
Socrata provides open data and data-as-a-service solutions for the government. Founded in 2007 by CEO Kevin Merritt, the company employs approximately 150 people. Socrata had revenues of approximately $25 million in its most recent fiscal year.
Socrata’s senior leadership team is expected to join Tyler’s team, along with substantially all the company’s employees. Tyler will continue to maintain Socrata’s Seattle office, as well as Tyler’s Renton, Washington, office.
Spurrier Capital Partners acted as financial advisor to Socrata for this transaction.
[Image courtesy: Socrata]