Monday, NICE Systems (NICE), a provider of advanced solutions that enable enterprises and security organizations to extract Insight from Interactions, transactions and surveillance to drive business performance, reduce risk and ensure safety, 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 said it 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.
NICE noted that it 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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