(By Balaseshan) Nice Systems Ltd. (NASDAQ: NICE) said it has agreed to acquire Redkite Financial Markets, an emerging provider of institutional trade surveillance solutions, for an undisclosed sum.
The company expects the acquisition to be immaterial to its fourth quarter and full-year 2012 non-GAAP revenues and non-GAAP earnings per share.
NICE Actimize's enterprise trading compliance platform, broad library of regulatory coverage modules, market leadership and global tier-one client presence are expected to benefit from the Redkite acquisition, with the addition of Redkite's trade surveillance to the Actimize trading compliance solutions suite.
The acquisition will advance NICE Actimize's cloud-based trading compliance offerings, enabling clients to be highly responsive to regulatory challenges and timelines and deploy solutions in a more cost-efficient manner.
"The acquisition of Redkite is an important and strategic addition to our trade surveillance and compliance business. Expanding our solutions portfolio will enable NICE to provide timely and cost effective solutions that address the rapidly evolving regulatory landscape," said Zeevi Bregman, President and CEO of NICE Systems.
The Redkite team will be introduced to customers in New York at the NICE Actimize 8th Annual Global Client Forum, an exclusive flagship gathering of executive leadership from the world's most prominent financial institutions.
NICE is trading down 1.05% at $31.66 on Monday. The stock has been trading between $29.51 and $40.04 for the past 52 weeks.