May 21, 2015
NICE System’s Cyber and Intelligence Division employees will join Elbit System’s unit Cyberbit.
Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) announced today that it has signed an agreement to acquire NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) Cyber and Intelligence division for up to $157.9 million, subject to certain customary adjustments. $117.9 million will be paid in cash on completion of the deal, planned for the third quarter of 2015. Up to $40 million will subsequently be paid based on future business performance.
NICE’s Cyber and Intelligence division offers solutions which provide law enforcement agencies and intelligence organizations with tools for creating communication intelligence. The division’s yearly revenue in 2014 was in the high tens of millions of dollars.