Battery closes NICE deal, renames security company
BOSTON— Battery Ventures today closed the NICE physical security business unit deal and announced that the new independent business will be called Qognify.
Battery Ventures announced its intention to acquire the business for "up to $100 million" in August. Here's a story on that announcement. Today's announcement did not include details on the final price.
In August, I spoke to Battery Ventures' Jesse Feldman about the deal. I have a call into Feldman to talk more and I'm hoping to catch up with Moti Shabtai, former GM of NICE's PSBU, who was named president of Qognify, at ASIS. Sept. 22, 2015 Update: Here's an interview with Quognify's Moti Shabtai.
Feldman said that Battery plans to continue to invest in the PSBU and expand into other market segments. In addition to possibly adding access control capabilities, Feldman said that Battery would consider acquiring analytics capabilities, video and otherwise. NICE's customers include banks, utility companies, airports, seaports, city centers and transportation systems and sports venues.