Battery Ventures buys NICE Systems unit for $100mAug. 3, 2015
NICE Systems 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.
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."
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