NICE: Actimize will add $3 million to non-GAAP revenue for the third quarter, but cut non-GAAP profit by ($540,000-1.1 million).
NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) completed its $280 million takeover of Actimize Ltd. on August 30, ahead of schedule. Nice originally predicted that the deal would be closed in late September. 80% of the acquisition was in cash and 20% in an allocation of NICE shares.
Nice provides multimedia digital recording, storage, and analysis solutions. Actimize provides transactional risk management software for the financial services industry.
NICE said that the early closing of the acquisition would add $3 million to its non-GAAP revenue for the third quarter and dilute non-GAAP earnings per share by $0.01-0.03 ($540,000-1.1 million). “The company expects to record transaction related costs and write-offs that will affect third quarter 2007 GAAP results.”
In its previous guidance, NICE predicted that Actimize would begin contributing to the company’s revenue in the third quarter of 2008.
Published by Globes [online], Israel business news - www.globes.co.il - on September 3, 2007
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