NICE Completes Acquisition of Actimize
August 30, 2007
By Divya Narain, TMCnet Contributor
NICE Systems (News - Alert) has completed the acquisition of Actimize for a total consideration of approximately $280 million, comprising 80% cash and 20% NICE ordinary shares. The takeover had been announced on July 2nd, 2007. Actimize deals in transactional risk management software for the financial services industry.
“The initial indications coming from customers of NICE and Actimize acknowledge the clear, visible, synergies and business opportunities this combination creates,” said Haim Shani, Chief Executive Officer, NICE Systems Ltd.
“The Actimize acquisition constitutes a major milestone in the execution of NICE’s growth strategy. Bringing together Actimize’s and NICE’s solutions establishes NICE as an enterprise-wide analytics powerhouse and the combined solution constitutes a breakthrough in processing, analyzing, and cross-referencing information from customer transactions and interactions. This unique combination, will enable to take millions and millions of transactions and interactions, and handle huge masses of data, comprising a full view of the customer touch points within the organization,” added Mr. Shani.
By successfully closing the acquisition before the expected date, NICE hopes to achieve an additional contribution of approximately $3 million in non-GAAP revenues and a dilution of 1 to 2 cents in non-GAAP EPS in the third quarter 2007. NICE also plans to record transaction related costs and write-offs that will affect third quarter 2007 GAAP results.
Divya Narain is a contributing editor for TMCnet. To see more of her articles, please visit her columnist page.
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