NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) which provides customer relationship and risk management solutions, has recruited a new digital currencies customer. The company reported today that it had been selected to supply Circle, one of the largest blockchain companies in the US, with monitoring and protection tools in the cryptocurrencies market.
NICE said that its monitoring solution, called NICE Actimize, would strengthen Circle's main infrastructure system in order to protect the company's currencies trading and exchange platforms against manipulation. Trading on Circle's platforms, on which bitcoin and other digital currencies are traded and exchanged, currently amounts to over $3 billion. The NICE Actimize Markets Surveillance solution enables companies to detect sophisticated manipulation in the market quickly and at low cost, including pump and dump manipulations and the use of inside information - all of the important threats to cryptocurrencies trading.
A year ago, Circle acquired US crypto currencies exchange Poloniex for $400 million. The company's popular payments app is called Circle Pay. Circle raised $110 million in May 2018 from venture capital investors for the purpose of issuing a dollar-linked digital currency.
NICE published its financial statements for the fourth quarter of 2018 two weeks ago. The company outperformed the forecasts with an 11% rise in its quarterly profit. NICE's fourth quarter revenue totaled $420 million, 6% more than in the fourth quarter of 2017. Revenue from the company's cloud-based solutions sector grew 29% to $134 million. NICE finished 2018 with $1.46 billion in revenue, 8.7% more than in 2017, while its non-GAAP net profit rose 16% to $296.7 million.
NICE's share price climbed 25% over the past year, boosting its market cap to NIS 26 billion.
According to 2019 forecasts for NICE, its revenue will reach $1.6 billion, with a $5.10 profit per share. The company's management cited $1.56-1.58 billion in revenue in the guidance it issued, slightly less than the analysts, and a net profit of $5.08-5.28 per share. NICE is projecting $370-380 million in the first quarter of 2019 and $1.05-1.15 per share in net profit, while the analysts are forecasting net profit of $1.16 per share on $371 million in revenue.
Published by Globes, Israel business news - en.globes.co.il - on February 27, 2019
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