Nice Systems said that it signed a definitive agreement to acquire the security management offering assets of Orsus, in an all-cash transaction for a total consideration of $22m, subject to certain adjustments.
The integration of Orsus’ security management software with Nice’s security offering, including video, and vertical domain expertise, will enable Nice to provide a pre-integrated portfolio of security management services to protect city centres, transportation systems, infrastructure, and enterprise campuses.
Orsus’ Situator security management offering provides a framework for fusing data silos from security and safety systems as well as multiple command and control centres, into a single operational view and automating security procedures.
Following completion of the acquisition, Nice 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. The estimates exclude acquisition related expenses and amortisation of acquired intangible assets as well as certain business combination.
Israel Livnat, president of security group at Nice Systems, said: This acquisition follows a successful partnership with Orsus. The integrated solution will help our customers overcome the challenge of managing multiple siloed security and safety systems, for better protecting city centres, transportation hubs and critical infrastructure. We look forward to having the team of industry leading innovators from Orsus join Nice.
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.
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