NICE to Acquire CyberTech International
NICE Systems has reached an agreement to acquire CyberTech International, a global provider of compliance recording solutions and value-added applications, for $60 million.
The addition of CyberTech solutions to the NICE portfolio will broaden the company's offering for financial institutions, strengthen its commitment to the SMB sector, and add to its public safety solutions. It will also enhance its positioning in EMEA and provide a product set that meets the needs of emerging markets, by offering a solution that accommodates large scale implementations with entry-level requirements.
"This transaction adds talent and complementary solutions as we execute on our strategy for growth," said Zeevi Bregman, president and CEO of NICE Systems, in a statement. " The enhanced portfolio expands our offering with complementary compliance recording solutions with a low [total cost of ownership. This combined offering will provide customers in financial institutions, contact centers and public safety with a broader combination of compliance recording, advanced application and scalability options to meet their needs. In addition the acquisition will enhance our positioning in the SMB sector as well as strengthen NICE's presence in EMEA.
"We are committed to protecting the technology investments of NICE and CyberTech customers. We expect a rapid and smooth integration that will yield many synergies and customer benefits, and will benefit from our proven track record of quick and measurable results. Finally, I would like to extend a warm welcome to the CyberTech employees who will be joining NICE," Bregman, continued.
Founded in 1985 and with headquarters in The Netherlands, CyberTech operates through 10 offices in North America, Europe, the Middle East, and Asia. The CyberTech portfolio includes products that are serving global industry leaders as well as answering the needs of smaller organizations, with a channel network of 60 partners in 45 countries.
Ad Ketelaars, CyberTech CEO said, "We are excited about becoming a part of NICE and joining an industry leader. This move will give us the opportunity to enjoy the benefits of NICE's global market presence and bring our solutions to a broader base of customers."