Nice Systems, Ltd., the specialist in intent-based solutions that extract insight to impact business performance, reduce financial risk and ensure safety and security announced that it has reached agreement to acquire CyberTech International, a global provider of compliance recording solutions and value-added applications. The agreement is subject to certain conditions under Dutch law. 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 SMB sector, and add to its public safety solutions. It will also enhance its positioning in 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.
NICE’s expanded portfolio will enable customers to match the right product to their scale and sophistication needs. Whether the deployment is on a small or large scale, is intended for a single-site, multi-site, or data-center implementation, and whether they require compliance recording only or more advanced applications in addition (or any combination thereof), the broader NICE offering will address these needs. Furthermore, CyberTech customers will now also be able to benefit from NICE’s portfolio of analytics-based business solutions and real-time, cross-channel applications.
Under the terms of the agreement, NICE will be acquiring CyberTech for a total cash consideration of approximately $60 million. The acquisition is expected to add approximately $25 million to NICE’s 2011 non-GAAP revenues and be accretive to its non-GAAP fully diluted EPS.
Zeevi Bregman, President and 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. This combined offering will provide customers in financial institutions, contact centers 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”
“We are committed to protecting the technology investments of NICE and CyberTech customers. We expect a rapid and smooth integration that will yield many synergies and customer benefits, and will benefit from our proven track record of quick and measurable results. Finally, I would like to extend a warm welcome to the CyberTech employees who will be joining NICE,” Mr. Bregman, continued.
Ad Ketelaars, CyberTech CEO said, “We are excited about becoming a part of NICE and joining an industry leader. This move will give us the opportunity to enjoy the benefits of NICE’s global market presence and bring our solutions to a broader base of customers.”**
If you are buying technology, RFPConnect is the place to meet the companies
that are selling it. RFPConnect provides templates for buyers to issue Requests
for Information (RFIs), Reguests for Proposals (RFPs) and Requests for Quotations
(RFQs). The site also provides a searchable directory and database of technology
vendors across the full range of industrial, commercial, financial and public sectors.
If you are selling technology, RFPConnect is the place to showcase your applications
or consultancy skills in searchable directories and product databases. The site
also provides technology vendors with the opportunity to publish news releases about
version upgrades, mandates won and other news about the company. Last but not least,
the RFP Exchange is a source of new business opportunities in the private and public
sectors.
To register your organization and its products, click the Register Now
link on the right hand side of this page and follow the registration procedure.
It will only take a few minutes - but it could lead to millions of dollars.
PriceMetrix is a software firm that helps retail wealth management firms and their advisors optimize selling efforts, manage clients, identify growth opportunit ...
Steve Husk, CEO of FRSGlobal, discusses the factors financial institutions are faced with in order to equip themselves against the current regulatory environment.
The adoption of IFRS for Canadian companies is in full swing. As of January 1, 2010, Canadian companies are required to file financial statements under IFRS. Although Canadian GAAP and IFRS are similar, there are three main differences that have posed a challenge for companies: effectiveness testing, hedge accounting eligibility, and fair value measurement. While not an exhaustive list, these issues have posed the greatest challenge for Canadian corporations during the first quarter of 2010. The following paper clarifies some of the differences in hedge accounting between Canadian GAAP and IFRS and shares best practices for hedge accounting to help Canadian corporations navigate through the transition.
With this Spring 2010 Edition of the Phone System Comparison Chart quickly see differences between brands like Avaya, Mitel, Cisco, ShoreTel, 8x8, Panasonic, etc and compare over 94 phone systems by 52 brands for small to big business.
PriceMetrix is a software firm that helps retail wealth management firms and their advisors optimize selling efforts, manage clients, identify growth opportunit ...
