NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) is buying security management solution developer Orsus Inc. for $22 million.
The all-cash deal should close in 2009.
Orsus bought the intellectual property of Irish firm Cinario earlier this year for several million dollars.
About $75 million has been invested in Orsus in its ten-year history, making it the latest in a string of start-ups that have been sold for less than the sum invested in them.
Orsus technology supports situational awareness. Its Situator system combines information from a range of sources so that the information can be process faster.
According to NICE, Situator can integrate a wide array of security and safety alerting sources from different vendors, such as video surveillance systems, access control, intrusion sensors, alarm panels, fire and safety sensors, radars, among others. It can also fuse and display information from Geographical Information Systems (GIS) and Geographical Positioning Systems (GPS), to rapidly determine exact incident location, and how best to respond.
Orsus customers include among others, American Electric Power, Aqua America, the Israel Air Force, National Guard of the United States, Transnet Freight Rail and Virginia Port Authority.
Published by Globes [online], Israel business news - www.globes-online.com - on November 23, 2009
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