Tyler Technologies breaking ground on assembly operation one year after buying VendEngine – The Business Journals
A company in the S&P 500 stock market index will break ground Tuesday on a Nashville-area site, reinvesting in a local technology company that it acquired for $84 million one year ago.
Tyler Technologies Inc. (NYSE: TYL) is opening a manufacturing and assembly operation in Kingston Springs, west of Bellevue.
The facility will support Tyler’s Resident Resources platform — a business formerly known as VendEngine, whose software is used at correctional facilities such as jails and detention centers in multiple countries. Incarcerated people can use the software for electronic payments, emails and video calls, as well as educational courses, while facility officials can use the software to manage health records, the on-site commissary, work-release schedules and other communication.
Workers at the Kingston Springs building will make or modify kiosks, tablets, mobile devices and other items for correctional facilities. Resident Resources is in use at more than 330 correctional facilities across the U.S., Central America and the Caribbean, with demand also coming from the European Union, according to Tyler Technologies.
“We have had a vision to expand our hardware capabilities for some time, so the groundbreaking of this new facility is a true statement to that vision,” said Silas Deane, who founded VendEngine and now serves as vice president of Resident Resources.
The new building, at 116 E. Kingston Springs Road, more than doubles the company’s production space and triples its warehouse space.
Deane said the roughly $5 million to $6 million project initially will create about a dozen jobs, with an additional eight to 12 hires expected over the following year. In addition to manufacturing, some logistics and support services also will be a part of the Kingston Springs operation.
Tyler’s acquisition of VendEngine in fall 2021 is one of the larger acquisitions of a Nashville tech company on record. VendEngine ranked as the sixth-fastest-growing company in the region, according to Business Journal research, based on its 128% revenue growth from 2016 through 2019.
Stacker Building Group, of Brentwood, is the general contractor. Hayley Schulist, a senior project manager in Nashville for CBRE Group Inc. (NYSE: CBRE) is overseeing the project for Tyler Technologies.
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