NICE to Enhance Security Offering With the Acquisition of Hexagon
Unique technology will expand NiceTrack’s capabilities for helping law enforcement, internal security, and intelligence agencies fight crime and terror
Ra’anana, Israel, NICE Systems Ltd. (NASDAQ: NICE), the global provider of advanced solutions that enable organizations to extract Insight from Interactions to drive performance, today announced that it has signed a definitive agreement to acquire Hexagon System Engineering Ltd., an Israel-based company that provides cellular location tracking technology. Hexagon’s unique technology enables law enforcement, internal security, and intelligence agencies to fight crime and terror more effectively. The Hexagon solution will further bolster the NiceTrack portfolio in addressing the growing demand for location tracking capabilities. Under the agreement, NICE would acquire the company for approximately $11 million. The transaction is anticipated to close shortly. The company does not anticipate material impact on its financial results in years 2009 and 2010.
Hexagon’s technology enables high levels of cellular location accuracy at a fraction of the infrastructure deployment costs versus competitive alternatives. The technology has been developed by Hexagon for over a decade and successfully deployed worldwide. With this transaction NICE strengthens its position in communications interception market by adding innovative technology for communications information analysis that is complementary to the NiceTrack offering.
The NiceTrack solutions portfolio enables interception of all types of communications and generates comprehensive intelligence. It offers a unified set of solutions for the collection, processing and analysis of both telephony and Internet data for law enforcement, intelligence agencies and internal security organizations. The solution provides a complete suite of operational tools and applications, which ensure that meaningful, mission-critical information is delivered on time to security decision makers and operational staff, enabling them to detect threats and achieve a fast and appropriate response.
“We are very pleased with the great achievements of our security business, as we’ve been successfully winning new large scale projects. The addition of this innovative and field proven technology will further strengthen our security business by enhancing our offering to government agencies, thus enhancing growth in the global homeland security market,” said Israel Livnat, President of Security Group, NICE Systems. “We are happy to add to our team Hexagon’s very talented group of experts. This transaction reflects our focused strategy of continually enhancing our company’s core competence in capturing, managing, and analyzing massive amounts of unstructured data. and we believe it will help support our goals for the NICE security business “ Mr. Livnat concluded.
NICE Systems (NASDAQ: NICE) is the leading provider of Insight from Interactions solutions and value-added services, powered by advanced analytics of unstructured multimedia content – from telephony, web, radio and video communications. NICE’s solutions address the needs of the enterprise and security markets, enabling organizations to operate in an insightful and proactive manner, and take immediate action to improve business and operational performance and ensure safety and security. NICE has over 24,000 customers in more than 150 countries, including more than 85 of the Fortune 100 companies. More information is available at http://www.nice.com/.
Trademark Note: 360° View, Alpha, ACTIMIZE, Actimize logo, Customer Feedback, Dispatcher Assessment, Encorder, eNiceLink, Executive Connect, Executive Insight, FAST, FAST alpha Blue, FAST alpha Silver, FAST Video Security, Freedom, Freedom Connect, IEX, Interaction Capture Unit, Insight from Interactions, Investigator, Last Message Replay, Mirra, My Universe, NICE, NICE logo, NICE Analyzer, NiceCall, NiceCall Focus, NiceCLS, NICE Inform, NICE Learning, NiceLog, NICE Perform, NiceScreen, NICE SmartCenter, NICE Storage Center, NiceTrack, NiceUniverse, NiceUniverse Compact, NiceVision, NiceVision Alto, NiceVision Analytics, NiceVision ControlCenter, NiceVision Digital, NiceVision Harmony, NiceVision Mobile, NiceVision Net, NiceVision NVSAT, NiceVision Pro, Performix, Playback Organizer, Renaissance, Scenario Replay, ScreenSense, Tienna, TotalNet, TotalView, Universe, Wordnet are trademarks and/or registered trademarks of NICE Systems Ltd. All other trademarks are the property of their respective owners.
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Messrs. Livnat, are based on the current expectations of the management of NICE-Systems Ltd. (the Company) only, and are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of the global economic environment on the Company’s customer base (particularly financial services firms) and the resulting uncertainties; changes in technology and market requirements; decline in demand for the Company’s products; inability to timely develop and introduce new technologies, products and applications; difficulties or delays in absorbing and integrating acquired operations, products, technologies and personnel; loss of market share; pressure on pricing resulting from competition; and inability to maintain certain marketing and distribution arrangements. For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company’s reports filed from time to time with the Securities and Exchange Commission, including the Company’s Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law.
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