Digital recording technology company NICE Systems (Nasdaq: NICE; TASE: NICE) of Ra’anana has bought Hexagon System Engineering Ltd., an Israel-based company that provides cellular location tracking technology.
Hexagon’s technology enables law enforcement, internal security, and intelligence agencies to fight crime and terror more effectively. NICE said that the Hexagon solution would further bolster the NiceTrack portfolio in addressing the growing demand for location tracking capabilities.
Under the agreement, NICE will acquire the company for approximately $11 million. The transaction is anticipated to close shortly. NICE does not anticipate material impact on its financial results in years 2009 and 2010.
Hexagon was founded in 1998. It provides mobile location, and wireless planning and optimization software products for WiMAX, UMTS, GSM, CDMA, BWA, and LTE.
"We are very pleased with the great achievements of our security business, as we’ve been successfully winning new large scale projects. The addition of this innovative and field proven technology will further strengthen our security business by enhancing our offering to government agencies, thus enhancing growth in the global homeland security market,” said Israel Livnat, President of Security Group, NICE Systems.
Published by Globes [online], Israel business news - www.globes.co.il - on August 31, 2009
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