Nice Systems Ltd. (NICE), a provider of insight from interactions solutions and quality monitoring services, Monday said it has signed a deal to purchase privately held security management software solutions provider Orsus in an all-cash transaction for a total consideration of $22 million. The transaction is expected to close towards the end of the fourth quarter of 2009, and is subject to certain adjustments.
Nice said the integration of Orsus' solution with Nice's security offering, including video and vertical domain expertise, will enable it to provide a pre-integrated portfolio of security management solutions tailored to protect city centers, transportation systems, critical infrastructure, and enterprise campuses. The acquisition is also expected to enhance Nice's position in the security market.
Following the completion of the acquisition, Nice expects the acquisition to generate additional adjusted revenues of several millions of dollars in 2010 and to become accretive on an adjusted earnings per share basis in the fourth quarter of 2010.
Ra'anana, Israel-based Nice expects the deal to be slightly dilutive on an adjusted earnings per share basis for each of the first three quarters of 2010. The estimates exclude acquisition related costs and amortization of acquired intangible assets as well as certain business combinations.
Orsus technology supports situational awareness, and its Situator system can combine information from a wide range of different sources, such as video surveillance systems, access control, intrusion sensors, alarm panels, fire and safety sensors, radars, so that the information can be processed faster.
Situator can also fuse and display information from geographical information systems and geographical positioning systems, to rapidly determine exact incident location, and how best to respond.
In February 2009, Irvine, California-based Orsus acquired intellectual property of privately held Irish firm Cinario for several million dollars. Orsus' customers include, among others, American Electric Power, Aqua America, Israel Air Force, National Guard of the United States, Port of Houston Authority, Transnet Freight Rail, and Virginia Port Authority.
In Friday's regular trading session, NICE closed trading at $29.86 per share on the Nasdaq. In the past 52-week period, the shares have been trading in a range of $17.32 to $33.42.
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