NICE-Systems Ltd. (Nasdaq: NICE; TASE:NICE) announced that it has won its largest ever security contract. A government agency will be implementing NICE's NiceTrack technology, for advanced telecom interception. NICE did not disclose which government agency is the buyer.
NICE has received an advanced payment for the first phase of the contract, which is expected to generate $55 million in revenues starting in 2010 over a period of two to three years.
The NiceTrack solution enables interception of all types of communications and generates comprehensive intelligence. NiceTrack offers a unified set of solutions for the collection and analysis of both telephony and Internet data for law enforcement, intelligence and internal security organizations. The solution provides a complete suite of operational tools and applications, which ensure that meaningful, mission-critical information is delivered on time to security decision makers and operational staff, enabling them to detect threats and achieve a fast and appropriate response.
NICE Security Group president Israel Livnat said, "We are seeing law enforcement agencies, around the world, turning to NICE for our innovative and advanced solutions to help combat crime and terror threats."
NICE CEO Haim Shani said, "This mega contract is an important milestone in the evolution of our security business, one that can lead NICE to another phase of growth. It also demonstrates that our strategy of leveraging the company's core competence in capturing, managing, and analyzing massive amounts of unstructured data to accelerate the success of both security and enterprise businesses, is generating significant results."
NICE Systems' share rose 3.5% by mid-afternoon today on TASE to NIS 106.40 after closing at $27.18 on Nasdaq yesterday.
Published by Globes [online], Israel business news - www.globes-online.com - on August 19, 2009
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