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Battery, NICE deal is done, business renamed Qognify

Acquisitions, API integration, video analytics as a ‘decision support system’ on the horizon

BOSTON—Battery Ventures on Sept. 20 closed the NICE physical security business unit deal and renamed the business Qognify.

Battery closes NICE deal, renames security company

Monday, September 21, 2015

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.

Here's the company's new web site.

Battery Ventures to buy NICE security unit for $100 million

Shabtai named president of new standalone company, Battery eyes further acquisitions

BOSTON—Battery Ventures, a technology investment firm based here, announced today it will acquire the physical security business unit (PSBU) of NICE Systems for up to $100 million.

Tyco completes acquisition of Industrial Safety Technologies


CORK, Ireland—Tyco International has completed its acquisition of Industrial Safety Technologies, a manufacturer of gas and flame detection gear, from Battery Ventures for $329.5 million in cash.