NICE Systems to Sell Physical Security Business Unit
NICE Systems has entered an agreement to sell its physical security business unit, which provides video surveillance technologies and capabilities, to Battery Ventures, a technology investment firm, for a total consideration of up to $100 million, comprising $85 million in cash and up to an additional $15 million based on future performance.
Nice systems is a provider of software solutions designed to enable organizations to improve customer experience and business results, ensure compliance, fight financial crime, and safeguard people and assets. In a press release NICE said it is selling this physical security unit in order to focus on its key markets and enterprise software business as part of the execution of its long-term strategic plan.