18 January 2018
visit http://response.ncr.com

Nice Systems sells physical security business

03 August 2015  |  2144 views  |  0 Source: Battery Ventures

Battery Ventures, a global technology investment firm, has reached an agreement to acquire the Physical Security Business Unit (PSBU), part of the security division of publicly listed Nice Systems, in a transaction valued at up to $100 million.

Under the deal, PSBU, which provides video- management, video-analytics and situation-management solutions, will be spun out into an independently operating business.

PSBU's solutions are leveraged by organizations worldwide to capture, analyze and leverage big data to anticipate, manage and mitigate security and safety risks, maintain business continuity and optimize operations. With a portfolio comprised of NiceVision and FAST, its flagship video-management solutions; video analytics, including the award-winning Suspect Search product; and NICE Situator, an incident-management solution, PSBU's offerings have been deployed to help secure and optimize operations for a broad range of mission-critical applications. PSBU's customers include banks, utility companies, airports, seaports, city centers and transportation systems, as well as venues hosting sporting events and major tourist attractions.

Battery -- which has extensive expertise in carving out technology businesses from corporate parent companies -- plans to continue to grow PSBU by maintaining its focus on the physical-security market, while expanding the unit's solutions for daily operations management. Battery also hopes to complement the company's existing technology through highly strategic acquisitions.

"There are great opportunities to grow PSBU into a stronger and more influential player in the market by offering new solutions, targeting new market segments and serving a broader range of customers," said Jesse Feldman, general partner at Battery Ventures. "In conjunction with the PSBU management team, Battery's financial backing will help the new company capture those opportunities."

Moti Shabtai, the current general manager of PSBU at NICE Systems, will become group president of the newly created company. He will be joined by Adam Markin, an experienced industry operator and Battery executive-in-residence, who will serve as chairman.

"PSBU has been a visionary in this market for years, and we will continue the division's track record of innovation," Shabtai said. "Battery will strive to help PSBU achieve the company's potential as well as long-term business objectives, providing PSBU with access to additional capital, extensive transaction experience, and broader industry relationships to help accelerate growth."

The newly created company will be headquartered in New Jersey with additional offices in London and Singapore, and an R&D center in Israel. Battery's private equity practice, which has a global emphasis, has experience with operations in the United States, Europe, Israel and Asia. 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.thomsonreuters.infovisit www.fivedegrees.nl

Top topics

Most viewed Most shared
Europe begins Open Banking era in subdued styleEurope begins Open Banking era in subdued...
10580 views comments | 32 tweets | 36 linkedin
Crypto mining threatened by power capacity concernsCrypto mining threatened by power capacity...
10085 views comments | 17 tweets | 18 linkedin
Wells Fargo to close 900 branchesWells Fargo to close 900 branches
9664 views comments | 14 tweets | 16 linkedin
KFC introduces Bitcoin BucketKFC introduces Bitcoin Bucket
9209 views comments | 17 tweets | 16 linkedin
FinTech Scotland appoints new CEOFinTech Scotland appoints new CEO
8163 views comments | 8 tweets | 6 linkedin

Featured job

Competitive
Germany, Austria or Switzerland

Find your next job