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Nice Systems in advanced talks to buy Actimize as it gears up for IPO
By Eran Gabay
Jun 24, 2007, 10:05
Nice Systems (Nasdaq: NICE) is in advanced negotiations to buy the Israeli startup Actimize, which specializes in fraud prevention software for financial institutions, phone companies and the like - mitigating "transactional risk", as it calls its sphere.
Actimize said it doesn't comment on rumors.
Actimize is actually gearing up for a Nasdaq initial public offering. Industry sources believe the tech company wants to raise $70 million at a post-money company value of about $300 million. Its IPO is to be underwritten by Citi and Lehman Brothers.
A year ago Actimize, founded in 1999, was crowned the fastest-growing startup (in terms of revenues) by Brightman-Almagor/Deloitte Touche. Its2006 sales are believed to have reached abut $40 million.
The company has 200 employees and has raised $24 million to date, including from Carmel Ventures, FT Ventures, Giza and Vertex. It is chaired by Carmel managing partner Avi Zeevi.
Actimize operates out of Tel Aviv, New York and London.
In other Nice news last Tuesday the company, run by Haim Shani, announced that Contax, a provider of contact center services in Brazil, has placed an order to expand to NICE Perform in three of its contact centers, for 4,000 agents.
NICE Perform will be deployed in a pure (voice over Internet) VoIP environment in each of the three sites, the company said. It didn't happen to mention how much the contract would be worth.
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