Unique technology will expand NiceTrack's capabilities for helping law enforcement, internal security, and intelligence agencies fight crime and terror
Nice Systems, a provider of advanced solutions that enable organizations to extract Insight from Interactions to drive performance, today announced that it has signed a definitive agreement to acquire Hexagon System Engineering, an Israel-based company that provides cellular location tracking technology. Hexagon's unique technology enables law enforcement, internal security, and intelligence agencies to fight crime and terror more effectively. The Hexagon solution will further bolster the NiceTrack portfolio in addressing the growing demand for location tracking capabilities. Under the agreement, Nice would acquire the company for approximately US$11 million. The transaction is anticipated to close shortly. The company does not anticipate material impact on its financial results in years 2009 and 2010.
Hexagon's technology enables high levels of cellular location accuracy at a fraction of the infrastructure deployment costs versus competitive alternatives. The technology has been developed by Hexagon for over a decade and successfully deployed worldwide. With this transaction Nice strengthens its position in communications interception market by adding innovative technology for communications information analysis that is complementary to the NiceTrack offering.
The NiceTrack solutions portfolio enables interception of all types of communications and generates comprehensive intelligence. It offers a unified set of solutions for the collection, processing and analysis of both telephony and Internet data for law enforcement, intelligence agencies and internal security organizations. The solution provides a complete suite of operational tools and applications, which ensure that meaningful, mission-critical information is delivered on time to security decision makers and operational staff, enabling them to detect threats and achieve a fast and appropriate response.
"We are very pleased with the great achievements of our security business, as we've been successfully winning new large scale projects. The addition of this innovative and field proven technology will further strengthen our security business by enhancing our offering to government agencies, thus enhancing growth in the global homeland security market," said Israel Livnat, President of Security Group, Nice Systems. "We are happy to add to our team Hexagon's very talented group of experts. This transaction reflects our focused strategy of continually enhancing our company's core competence in capturing, managing, and analyzing massive amounts of unstructured data. and we believe it will help support our goals for the Nice security business."