NICE Systems acquires US co Guardian Analytics

Barak Eilam Photo: Eyal Izhar

NICE's financial crime management unit Actimize has acquired AI cloud based financial crime risk management co Guardian Analytics.

Israeli software solutions company NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) financial crime management unit NICE Actimize has acquired US AI cloud based financial crime risk management company Guardian Analytics. No financial details were disclosed and the amount of the acquisition was likely not material to NICE. Guardian Analytics is a private company founded in 2005.

NICE said that, "Financial services organizations of all sizes must remain one step ahead of financial crime. Financial services organizations of all sizes rely on Guardian Analytics’ sophisticated real-time behavioral analytics and machine learning solutions. Powered by the cloud, Guardian Analytics simplifies deployments and ongoing operations, optimizing operational resource efficiency. The unique combination of NICE Actimize and Guardian Analytics’ fraud and anti-money laundering capabilities will empower firms of all sizes to accelerate the adoption of the industry’s most innovative solutions, to best protect their assets and customers.

NICE Actimize CEO Craig Costigan said, "Today, NICE Actimize is taking a significant step forward in advancing the future of managing financial crime risk. With criminals seeking to exploit the current environment, we need to make sure financial institutions and consumers are protected in a way that’s cost-effective and intuitive. The acquisition of Guardian Analytics brings together the unique combination of proven expertise, best-in-class innovation, and the power of the cloud, presenting a major opportunity for accelerated growth."

NICE Systems led by CEO Barak Eilam, provides analytics, automated and AI based cloud solutions for improving customer services and experience and preventing financial fraud. The company is traded on Nasdaq and on the TASE, with a market cap of $11.7 billion.

At the end of the first quarter of 2020 NICE Systems have over $1 billion in cash and investments. The last major acquisition made by NICE was for cloud computing company Mattersight for which it paid $90 million in 2018.

Published by Globes, Israel business news - en.globes.co.il - on June 4, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Barak Eilam Photo: Eyal Izhar
Barak Eilam Photo: Eyal Izhar
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