NICE Systems Announces Orsus Acquisition

NICE Systems recently announced the signing of a definitive agreement to acquire the security management solution assets of Orsus, a provider of security management solutions.

Under the terms of the agreement, NICE will be acquiring the security management solution assets of Orsus in an all-cash transaction for a total consideration of $22 million, subject to certain adjustments. The transaction is subject to the satisfaction of customary closing conditions and is anticipated to close towards the end of the fourth quarter of 2009.

The integration of Orsus’ unique security management software with NICE’s comprehensive security solutions, complemented by its vertical domain expertise, will enhance NICE’s leadership position in the security market, and enable its customers and partners to better protect city centers, transportation systems, critical infrastructure and enterprise campuses.

Critical incidents today are becoming more frequent and with more far-reaching consequences. In response, organizations have made massive investments in a wide range of security technologies and in corresponding manpower. However, these security tools often exist in different silos, which lead to information overload, making it difficult to get the complete picture and manage critical incidents effectively. Orsus’ Situator security management solution provides a framework for fusing data silos from disparate security and safety systems as well as multiple command and control centers, into a single, holistic operational view and automating security procedures.

“Adding this solution to NICE’s comprehensive security offering is a perfect fit to our strategy of building a unique offering that leverages our core competence in capturing, managing, and analyzing massive amounts of unstructured data, and combining them with state of the art proprietary security technology,” said Israel Livnat, president of security group of NICE Systems Ltd.

“This acquisition follows a successful partnership with Orsus. The integrated solution will help our customers overcome the challenge of managing multiple siloed security and safety systems, for better protecting city centers, transportation hubs and critical infrastructure. We look forward to having the team of industry leading innovators from Orsus join NICE.”

“Joining NICE, a global security solutions provider powerhouse, is a great opportunity for Orsus” said Gil Weiser CEO of Orsus. “Together, we’ll expand our global outreach to support the security needs of customers across a wide range of vertical markets.”

The acquisition is expected to close towards the end of the fourth quarter of 2009. Following completion of the acquisition, NICE expects to generate additional non-GAAP revenues of several millions of dollars in 2010 and to become accretive on a non-GAAP earnings per fully diluted share basis in the fourth quarter of 2010. For each of the first three quarters of 2010, NICE expects the deal to be slightly dilutive on a non-GAAP earning per fully diluted shares basis. These estimates exclude acquisition related expenses and amortization of acquired intangible assets as well as certain business combination.

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