Nice Systems in talks to buy Verint-report
TEL AVIV Jan 14 (Reuters) - Israel-based Nice Systems , which provides civil defence monitoring systems, is in talks to buy rival Verint for $1.5 billion in cash and stock, the Calcalist financial newspaper reported.
Nice will use its cash reserves, which totalled $422 million at the end of the third quarter, Calcalist said on its website on Monday.
It said such a deal would require anti-trust approvals from numerous countries in which the two companies do business.
Nice shares were up 4.3 percent to 136.2 shekels in early afternoon trade in Tel Aviv.
Verint has a market value of $1.26 billion, following a rise of 25 percent in its share price in the past two months. Nice is worth $2.1 billion.
Verint, a developer of video and audio monitoring systems and analytical software, operates predominantly in the defence market whereas Nice makes 75 percent of its sales in the civilian market, Calcalist said.
Nice provides tools to delve into data to improve business, spot fraud and fend off security threats. Its products also ensure call centres work efficiently, while its systems aid in surveillance for security forces trying to protect buildings and transport networks against attack.
"There has always been speculation on the issue but Nice does not comment on rumours or speculation," a Nice spokeswoman said.