Battery Ventures to Acquire Nice Systems’ Physical Security Business Unit for up to $100M
Summary
Battery Ventures, a global technology investment firm, is to acquire the Physical Security Business Unit (PSBU), part of the security division of Ra’anana, Isreal-based publicly listed NICE Systems (NASDAQ: NICE), in a transaction valued at up to $100m.The company’s solutions are used by banks, utility companies, airports, seaports, city centers and transportation systems, as well as venues hosting sporting events and major tourist attractions to capture, analyze and leverage big data to anticipate, manage and mitigate security and safety risks, maintain business continuity and optimize operations.Battery 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.Moti Shabtai, the current general manager of PSBU at NICE Systems, will become group president of the newly created company.The newly created company will be headquartered in New Jersey with additional offices in London and Singapore, and an R&D center in Israel.