NICE Systems, Ra'anana, Israel, announced a strategic supply relationship with Honeywell designed to capitalize on the growth opportunities NICE expects to result from its recent decision to acquire FAST Video Security AG, a Swiss-based developer of video systems for security and surveillance purposes. The newly aligned relationship will provide a broader range of solutions for the smart-based video IP market.
Through this relationship both companies will be able to provide smart IP-based digital video and content analytics solutions, derived from the combined portfolio of NICE and FAST solutions. The combined portfolio will provide an extended offering of video products and solutions covering video transmission/networking, recording, management, real-time detection and post-recording analysis.
"Honeywell has maintained a solid relationship with FAST for a number of years," said John Lorenty, president of Honeywell Systems Group. "We are delighted by this opportunity to offer an expanded suite of solutions through our work with NICE."
Doron Eidelman, president of NICE's digital video security division, said: "We are extremely pleased to be partnering with Honeywell and NICE intends to fully continue the Fast Video Security commitments to Honeywell and further expand the cooperation. The synergistic leadership of our two companies will set new standards in breadth and depth of digital video solutions in the highly demanding video security marketplace."
NICE's acquisition of FAST is subject to the satisfaction of customary closing conditions and is anticipated to close in early 2006.