NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) today announced that it has entered into an agreement to acquire Redkite Financial Markets. Redkite provides real-time, cloud-based institutional trade surveillance solutions.
The company said that NICE Actimize's enterprise trading compliance platform will benefit from the Redkite acquisition. Redkite, with origins in investment banking, has a customer base comprised of global investment banks, broker dealers and futures clearing merchants in a range of tier one and tier two market segments.
The acquisition will promote NICE Actimize's cloud-based trading compliance offerings, enabling clients to be more responsive to regulatory challenges and timelines and deploy solutions in a more cost-efficient manner. Financial institutions will now be able to use NICE Actimize solutions whether installed on-premise or delivered in the cloud. NICE said that these capabilities are important during this time of heightened regulatory reform, when financial services firms require flexibility and the agility to choose between on-premise implementation, on-demand access or a hybrid approach.
NICE Systems president and CEO Zeevi Bregman said, "As the market leader in the financial risk management and compliance space, our customers are looking to NICE for solutions that enable them to effectively address the growing importance of compliance and the anticipated wave of regulations. The acquisition of Redkite is an important and strategic addition to our trade surveillance and compliance business. Expanding our solutions portfolio will enable NICE to provide timely and cost effective solutions that address the rapidly evolving regulatory landscape."
No financial details were disclosed but the company says the acquisition will be immaterial to its fourth quarter and full-year 2012 Non-GAAP revenues and Non-GAAP fully diluted earnings per share.
Published by Globes [online], Israel business news - www.globes-online.com - on October 22, 2012
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