Battery Ventures buys NICE Systems unit for $100m

Barak Eilam
Barak Eilam

Having sold its cyber unit to Elbit Systems, NICE Systems is now selling its physical security unit.

NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) has signed an agreement to sell its Physical Security Business Unit (PSBU) to technology investment firm Battery Ventures. According to the terms of the deal, PSBU, which provides video- management, video-analytics and situation-management solutions, will be spun out into an independently operating business.

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.

Shabtai said, "PSBU has been a visionary in this market for years, and we will continue the division's track record of innovation. 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.

Battery Ventures general partner Jesse Feldman said, "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. In conjunction with the PSBU management team, Battery's financial backing will help the new company capture those opportunities."

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.

This is the second division NICE Systems has sold in as many months. In July, NICE Systems completed the sale of its intelligence and cyber division to Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) for $118 million.

NICE Systems, managed by CEO Barak Eilam, provides software solutions for managing customer relations and risks. NICE said that the sale of its division to Elbit Systems was designed to enable NICE to continue its multi-year strategic plan, and to focus on its core markets and business model.

Published by Globes [online], Israel business news - www.globes-online.com - on August 3, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

Deflated unicorn credit: Shutterstock Big Tech 50 reports more huge falls in startup valuations

Israeli R&D partnership Big Tech 50 reports that an investment of $2 million in Orcam made in 2021, shrank to just $31,000 at the end of 2024.

NextFerm technologies based on yeast credit: NextFerm Food-tech co NextFerm suspends operations

The company, which produces food ingredients in yeast without genetic engineering, cannot pay its debts and is seeking a buyer.

Minister of Finance Bezalel Smotrich credit: Shlomi Yosef OECD sees recovery in growth but high inflation

The OECD Israel Economic Survey 2025 recommends that the Israeli government take several restraining measures, in order to exit the economic storm created by the war.

Dano Ben-Hur credit: Dror Sithakol Statisticians contradict BoI on impact of housing finance deals

The Central Bureau of Statistics insists the impact of 20/80 buy now pay later financing deals on the real estate market and housing prices is minimal.

Governor of the Bank of Israel Amir Yaron  credit: Government Press Office Debt fears top Bank of Israel's concerns

Most unusually, Governor of the Bank of Israel Amir Yaron's press conference last week did not focus on inflation and the impending interest rate decision.

US President Donald Trump  credit: Reuters/Leah Millis Israel moves to avoid Trump's tariffs axe

Minister of Finance Bezalel Smotrich has signed an order canceling all tariffs on imports from the US. The impact will mostly be on agricultural produce.

Forbes Rich List credit: Shutterstock Maslowski Marcin Wiz founders ranked in Forbes 2025 Rich List

There are a few dozen Israelis listed in the 2025 Forbes Real-Time Billionaires List including Wiz founders Assaf Rappaport, Yinon Costica, Roy Reznik and Ami Luttwak.

SatixFy CEO Nir Barkan credit: Ariel Barkan Canada's MDA Space to buy Israeli satcom co SatixFy

MDA Space will pay $269 million for the Israeli company, including taking on a $76 million debt and a 75% premium on SatixFy's closing price on Nasdaq yesterday.

Raising dollars credit: Shutterstock Israeli startups raised over $1b in March

Israeli privately-held tech companies have raised $2.1 billion in the first three months of 2025, according to IVC-LeumiTech, up 24% from the corresponding quarter of 2024.

Terminal 1 credit: Personal image Terminal 1 reopening revives Israel low-cost fare options

With the opening of the terminal for international flights, the Irish low-cost airline Ryanair has returned to Israel and with it, double-digit US dollar round-trip fares.

Arkady Volozh  credit: Shlomi Yosef Analysts see Israel-linked Nebius challenging CoreWeave

Nebius, founded by Yandex founder Arkady Volozh, operates in CoreWeave's AI server market, but is growing "more rationally", and has far less debt.

Bezalel Smotrich and Amir Yaron credit: Knesset Spokesperson and Tali Bogdanovsky Retail chains, credit card cos could soon act as banks

Israel's financial regulators have proposed that supermarket chains, credit card companies and investment houses will be able to accept deposits and offer credit.

Elbit Systems rocket launcher  credit: Elbit Systems Elbit Systems wins $130m European rocket order

The order is for the supply of rockets for Elbit's Precise and Universal Launching System (PULS), which has an effective range of up to 300 kilometers.

Nvidia VP Ali Kani credit: Nvidia Nvidia intensifies efforts to compete with Mobileye

"Globes" talks to Nvidia VP and automotive team head Ali Kani about the chipmaker's autonomous vehicle activities and assesses the threat to Mobileye.

Fitch ratings agency credit: Shutterstock Fitch reaffirms Israel's A rating with negative outlook

The ratings agency said, "The negative outlook reflects rising public debt, domestic political and governance challenges and uncertain prospects for the conflict in Gaza."

Tamar rig credit: PR Sovereign Wealth Fund earned handsome returns in 2024

Israel's Sovereign Wealth Fund, known as the Citizens' Fund, had assets worth about $2 billion at the end of 2024, the Ministry of Finance reports.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018