Nice Systems buys Thales

SSN Staff  - 
Sunday, December 1, 2002

RA'ANANA, Israel - Nice Systems announced in October it completed its acquisition of Thales Contact Solutions, a developer of customer-facing technology for public safety, wholesale trading and call centers.

Nice Systems bought Thales for $30 million, plus 2.1 million shares of Nice stocks.

Additional cash payments are possible over the next three years if certain financial performance criteria are met. If so, Nice would pay Thales' parent company, Thales Group up to $10 million in 2003, $7.5 million in 2004 and $7.5 million in 2005.

"TCS has important strengths that complement both our core businesses," said Haim Shani, chief executive officer of Nice Systems. "With this acquisition, Nice has significantly expanded its global operations, strengthened its R&D team and expanded its product line and professional services team."