NICE Announces Agreement to Sell its Physical Security Business Unit to Battery Ventures
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NICE Systems (NICE) to Sell Physical Security Business; Trims Q3, FY15 EPS Outlook
August 3, 2015 6:12 AM EDTNICE Systems (NASDAQ: NICE) has entered into an agreement to sell its Physical Security business unit to Battery Ventures, a technology investment firm, for a total consideration of up to $100 million, comprising of $85 million in cash and up to additional $15 million based on future performance.
NICE's Physical Security business unit provides video surveillance technologies and capabilities to security-aware organizations.
This divestiture will allow NICE to focus on its key markets and enterprise software business as part of the execution of its long-term strategic plan.
"We continue to aggressively execute our... More
