Tag: Nice

CARLSBAD, Calif.—Following the acquisition of Nortek Control in October 2021, Nice, a global manufacturer of smart home and building automation solutions, has announced plans to form a single entity in North America by consolidating all its essential operations under Nice. Nortek Control will complete a transition to the Nice brand in 2022. 2GIG, ELAN, Linear, Mighty Mule, Speakercraft, Proficient, Furman, Panamax, Gefen, Numera, Intellivision, Abode, and HySecurity will continue to go to...

YARMOUTH, Maine—Last month saw a major M&A take place in the security industry as Nice, a global manufacturer of smart home, security, and home & building automation solutions, acquired technology developer Nortek Security & Control, LLC from Melrose Industries. The acquisition, valued at $285 million, marked the largest investment to date by Nice and solidified the company’s commitment to an increased presence in the North American market, as well as expanding its footprint globally. The...

If you’ve read our website over the last month or so, you’ve noticed an uptick in the amount of merger and acquisition (M&A) stories we’ve posted, and as Karen Carpenter beautifully sang so many years ago, we’ve only just begun. The wheeling and dealing in the security industry have been hot and heavy during the late summer and early part of the fall season. In case you have not been able to keep up with the goings-on of all the business transactions over the past several...

ODERZO, Italy—Nice, a global manufacturer of Smart Home, Security, and Home & Building Automation solutions, announced today it has acquired Nortek Security & Control, LLC from Melrose Industries. The transaction, valued at $285 million, is the largest investment to date by Nice. Click here for an exclusive Q&A with Luca Longhin, Deputy CEO of Nice Group USA and Nortek Control. “This acquisition reinforces our strong commitment to North America and significantly expands our global...

KENT, Wash.—Nice, a global manufacturer of smart home and building automation products, announced the release of the Mercury 310 residential gate operator controller, a simple-to-install controller engineered for UL325 compliance for automated gate systems. “With the release of Mercury 310, we are setting a new standard in ease of installation and use,” said Jon Eiche, product manager, Residential & Commercial Gate for Nice North America. “We designed the Mercury 310 to...

CHICAGO—Nice S.p.A., the Italian international home automation and home security company, recently purchased Poland-based FIBARO, a global smart home brand.The transaction was public as of July 13 and was valued at €63 million ($73 million USD) and includes the entire share capital of Fibar Group S.A. including its U.S. subsidiary.“FIBARO was actively looking for a business partner that could provide us not only with the financial resources, but also enable us further and faster growth...

PALO ALTO, Calif.—Nice S.p.A., a global home and building automation company, on April 13 acquired 75 percent of abode systems, a provider of DIY security and home automation systems based here, for $18.75 million. The remaining stock is held by abode's founders. “We actually had a lot of interest from several larger [companies based] outside the U.S. … but we felt like Nice was the best fit for us. We really liked their team and their focus on design and user experience was one of the...

BOSTON—Battery Ventures on Sept. 20 closed the NICE physical security business unit deal and renamed the business Qognify.Battery Ventures announced its intention to acquire the business in August for $85 million in cash and up to an additional $15 million. Final terms have not been made public, however, Monroe Capital in Chicago announced that it was the sole lead arranger and administrative agent on the funding of a $57.5 million senior credit facility to support Battery Ventures' acquisition.Monroe...

Lots of people on the show floor on Wednesday! 29,900 square feet of exhibit space and 1003 booths, is what I heard.Wednesday started for me with the Axis Press Breakfast, where the network camera company introduced three new cameras and an upgraded Axis Camera Companion. In 2012, there were 60,000 downloads of the software, according to Axis' Fredrik Nilsson. The cameras of the future will be customized for customers with apps, the same way we currently customize our smartphones, Nilsson said. With...

Will there be a very nice Verint NICE deal soon? That's what the rumor mill says. Rueters reported yesterday that Verint Systems stock was up more than 7 percent and NICE shares were up 6.7 percent on reports from Globes, an Israeli financial site, that said Nice Systems is talking to Verint about buying it for $1.5 billion. It's said to be a cash and stock offer that would "represent a 19 percent premium on its market cap of $1.26 billiion," according to Rueters. I called NICE and Verint for comment...