ANTI-MONEY LAUNDERING SERVICE PROVIDER ACQUIRES PEER FIRM

Posted September 2, 2009

NEW YORK and RA’ANANA, Israel – Actimize, a provider of software solutions for anti-money laundering, brokerage compliance and fraud prevention owned by NICE Systems (Nasdaq: NICE), has closed its acquisition of anti-money laundering and financial crime prevention software provider Fortent, bringing together client bases with little overlap, the companies say.

“Actimize has established its clear leadership position in the financial crime market, compliance and real-time fraud prevention market,” says David Sosna, Chief Executive Officer of Actimize. “Fortent has built a strong technology and business throughout the years, with a top-tier financial services client base. Our customers and partners will benefit given the breadth and depth this acquisition brings to Actimize’s financial crime, compliance and risk management platform. Our joint customers and partners will benefit from a top notch industry leader offering them the most advanced and comprehensive technology platform backed by the largest dedicated professional services and support organization.”

Under the terms of the agreement, NICE will be acquiring Fortent’s Compliance and Risk Management business. Fortent will become part of Actimize which continues to operate as a wholly owned subsidiary of NICE, with the Fortent team becoming an integral part of Actimize. NICE will acquire Fortent in an all cash transaction for a total consideration of $73.5 million. The deal is expected to be accretive on a non-GAAP basis starting first quarter 2010, excluding acquisition related expenses and amortization of acquired intangible assets as well as certain business combination accounting entries. Additionally, Actimize projects it will be a $100 million business in 2010.

“The Fortent team is extremely excited to join forces with Actimize,” says Sandy Jaffee, Chairman and Chief Executive Officer at Fortent. “Together, we are creating the industry’s number one provider of sophisticated financial crime solutions in a fragmented market that required a leader with proven comprehensive technology and domain expertise to support the financial services market.”