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Friday, November 2, 2012

NICE TO BUY U.S. PERFORMANCE MANAGEMENT COMPANY

NICE, an Israeli workforce management company, recently announced its plans to buy the Redwood Shores, Calif.,-based Merced “for a total consideration of approximately $150 million and an additional $20 million in cash,” according to a statement from NICE. With specialties in compliance recording and customer care systems, NICE has an impressive and lengthy client list that includes AIG, Cigna, Fiserv, and US Bank. With the transaction will involve bringing certain Samsung assets, infrastructure, and employees under Seagate’s wing in order to “drive scale and innovation,” according to Seagate’s press release on the matter. “The strategic relationship will open new opportunities for the two companies by mutually complementing each other’s creative technology solutions for a broad diversity of IT applications,” said Oh-Hyun Kwon, vice chairman of device solutions of Samsung Electronics. Seagate, which says the buyout will expand its reach in Brazil, China, Germany, Russia, and Southeast Asia, puts the combined value of the acquisition near $1.4 billion.

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