NICE to Acquire Actimize
July 02, 2007
By Stefania Viscusi, Assignment Desk Editor
NICE Systems (News - Alert) Ltd. announced today the signing of a definitive agreement to purchase Actimize, a provider of transactional risk management software for the financial services industry for a consideration of approximately $280 million. The deal is anticipated to be closed by the end of the third quarter of 2007 and is subject to the satisfaction of customary closing conditions.
As per the new agreement, the two companies will combine their offerings to create a solution for the financial services industry and enterprises which makes it possible to improve business performance as well as risk management capabilities.
As per the agreement, Actimize will become a wholly owned subsidiary and its current management team will remain in place.
According to a news release, "the combination of NICE and Actimize will enable financial institutions and enterprises to receive real-time alerts on compliance, fraud and other anomalies, dramatically improving the organization's business performance and risk management capabilities."
By combining NICE's solutions which capture info to offer improved compliance, performance and customer loyalty for enterprises together with Actimize's solutions that analyze info to improve compliance, prevent fraud, and stop money laundering in the financial services sector, it is possible to provide real-time transaction and interaction analytics to the financial services sector and help them better meet compliance needs and reduce fraud.
NICE will also reportedly utilize the combined offering to provide other verticals with better insight into customer behavior and to offer enhancement for their national security applications.
Haim Shani, Chief Executive Officer of NICE commented in a statement to the press, "Actimize's transaction analytics and risk management solutions along with NICE's interaction analytics and proven leadership on the compliance market changes the competitive landscape in the financial services industry, as well as in the enterprise and security markets in which we operate."
Stefania Viscusi is an established writer and avid reader. To see more of her articles, please visit Stefania Viscusi’s columnist page.