Elbit To Acquire Cyber And Intelligence Division Of NICE Systems

Elbit Systems announced today that it has signed a $157.9 million agreement to acquire NICE Systems Ltd.’s (“NICE”) Cyber and Intelligence division.

Out of the total amount, $117.9 million will be paid in cash at the time of the closing that is expected to take place in the third quarter of 2015, subject to certain closing conditions.

An additional amount of up to $40 million will be paid as earn-out, based upon the future business performance of the acquired division’s activities.

NICE’s Cyber and Intelligence division offers solutions which provide law enforcement agencies and intelligence organizations with tools for creating communication intelligence. 

Adi Dar, an Executive Vice President of Elbit Systems, was appointed as CYBERBIT’s General Manager. The Nice Cyber and Intelligence division’s employees will become employees of CYBERBIT.

The acquisition will enable us to provide our customers with end-to-end, market leading cyber solutions, Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems said.

"We welcome NICE’s Cyber and Intelligence division employees, known for their cutting edge technological capabilities and operational experience.” He added.

The division’s yearly revenue in 2014 was in the high tens of millions of dollars.​