Nice Systems to Acquire CyberTech International for US$60m
Nice Systems, a business performance solutions company, has agreed to acquire CyberTech International, a provider of compliance recording solutions and value-added applications, for US$60m. The transaction is scheduled to close in March 2011, subject to satisfaction of certain terms.
The addition of CyberTech solutions to the Nice portfolio will broaden the company’s offering for financial institutions, strengthen its commitment to the small and medium-sized enterprise (SME) sector, and add to its public safety solutions. It will also enhance its positioning in Europe, Middle East and Africa (EMEA) and provide a product set that meets the needs of emerging markets, by offering a solution that accommodates large scale implementations with entry-level requirements.
Zeevi Bregman, president and chief executive officer (CEO), Nice Systems said: “This transaction adds talent and complementary solutions, as we execute on our strategy for growth. The enhanced portfolio expands our offering with complementary compliance recording solutions with a low TCO [total cost of ownership]. This combined offering will provide customers in financial institutions, contact centres and public safety with a broader combination of compliance recording, advanced application and scalability options to meet their needs. In addition the acquisition will enhance our positioning in the SMB sector as well as strengthen Nice’s presence in EMEA.”