Partnership with leading US technology firm announcedspeedwell
Leading US public sector technology firm Tyler Technologies, Inc. today announced a strategic US $15 million investment in Brisbane-based Record Holdings, as part of a deal that will export Australian innovation to significant new global markets.
Record Holdings is the owner of For The Record (FTR), which is the world’s most tested and trusted digital evidence, recording platform in the world. It is also the owner of Australia’s leading recording and transcription company Auscript Australasia Pty Ltd (Auscript), which records more than 200,000 hours of digital audio and delivers more than 2.3 million pages of transcript every year.
Record Holdings CEO and Managing Director, Peter Wyatt, said the investment by Tyler was an enormous vote of confidence in the Australian business and its technology, and would open a range of new markets for the FTR products across the United States and around the world.
“For 20 years FTR has set the standard for digitising the spoken word, and it continues to be the world leader in innovation in this area through its FTR Labs development facilities in Brisbane and Perth,” Mr Wyatt said.
“FTR technology is already used in courtrooms throughout North America, Europe and Asia, and in Australia it is found in the majority of all Courtrooms and Parliaments in the country,” he said.
“Tyler Technologies has complementary technologies already deployed in 21 US states. This new partnership will open both marketing and development opportunities for Record Holdings and FTR.
“Tyler’s decision to take a minor equity position in Record Holdings is also a significant vote of confidence in the company, its vision, its products and its people,” Mr Wyatt said.
Tyler plans to leverage FTR’s international expertise and relationships to make its own court case management system available to courts beyond its traditional U.S. market.
Bruce Graham, president of Tyler’s Courts & Justice Division, said FTR’s products were “a natural extension” to its own suite of technology.
“By partnering with FTR and building integration between our products, both Tyler and FTR will help our clients operate more efficiently,” Mr Graham said.
“We look forward to the companies’ sales and marketing teams collaborating to identify and pursue opportunities for Tyler to grow internationally, and for FTR to accelerate its expansion in the US.”
Record Holdings was last year named by Business Review Weekly among Australia’s top 50 innovators for its world-leading court-reporting technology, particularly its Court.fm product.
Court.fm gives judges and legal professionals secure access to recordings of trials and hearings. It was developed in response to a growing need among legal professionals for urgent access to court recordings, and is now used in courts around the world.
Mr Wyatt said the BRW listing recognised the high degree of technological innovation currently taking place in Australia, and the Tyler Technologies partnership was further proof.
About Tyler Technologies, Inc.
Tyler Technologies (NYSE: TYL) is a leading provider of end-to-end information management solutions and services for the Public Sector. Tyler partners with clients to empower the public sector — cities, counties, schools and other government entities — to become more efficient, more accessible and more responsive to the needs of citizens. Tyler’s client base includes more than 11,000 local government offices in all 50 states, Canada, the Caribbean, the United Kingdom and other international locations. Forbes has named Tyler one of “America’s Best Small Companies” eight times and the company has been included four times on the Barron’s 400 Index, a measure of the most promising companies in America. More information about Plano-based Tyler Technologies can be found at www.tylertech.com.
About Record Holdings
Brisbane-based Record Holdings is the owner of For The Record (FTR) and Auscript. For The Record is the most tested and trusted digital evidence, recording platform in the world. Twenty years ago, FTR pioneered the technologies that have become the industry standard for digitising the spoken word. Its development operation, FTR Labs, is headquartered in Brisbane, with an additional development facility in Perth. FTR’s sales and support team are based in Denver, Colorado and Phoenix, Arizona, and the company also has a presence throughout Asia Pacific, Europe, the Middle East and Africa. Auscript has been trusted for more than 90 years to capture, store, distribute and transcribe public and confidential records. With the highest published quality ratings in the country (99.5% raw accuracy), Auscript is the market leader in mission-critical recording and transcription services for justice, business, government and law enforcement clients.