Business Services Industry
H.T.E., Inc. Announces That Tyler Technologies Inc. Confirms It has Acquired Shares of Common Stock of Jack Harward and Dennis Harward
Business Wire, August 25, 1999
LAKE MARY, Fla.--(BUSINESS WIRE)--Aug. 25, 1999--
H.T.E., Inc. (NASDAQ:HTEI), a leading provider of enterprise-wide software solutions for the public sector, announced that Tyler Technologies, Inc. has confirmed to the Company that it has acquired 4,650,000 shares (representing approximately 27% of the Company) of the common stock of Jack Harward and Dennis Harward and has a binding agreement to acquire an additional 968,952 shares of the Harwards' common stock. The shares acquired and to be acquired from the Harwards by Tyler are subject to Florida's control-share acquisition statute. Under this statute, the shares acquired by Tyler will not have voting rights until such time as the shareholders of the Company, other than Tyler, restore voting rights to those shares.
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HTE develops, markets, implements and supports fully integrated enterprise-wide software applications designed specifically for public-sector organizations and utilities. With more than 1,600 customers worldwide, HTE, Inc. is an industry-leading software solutions provider. The company's customers include states, counties, cities, corrections, justice and public safety agencies, public and private utilities, school districts, transit authorities and other public sector agencies.
Except for the historical information contained herein, the matters discussed in this news release are forward looking statements that involve risks and uncertainties detailed in HTE's filings with the Securities and Exchange Commission, including risks summarized in HTE's Annual Report on Form 10-K for its fiscal year ended December 31, 1998 (file No. 0-22657). For more information on HTE's products and services, call (407) 304-3235 or toll free at (800) 727-8088, or visit HTE's web site at www.hteinc.com.
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