NICE Acquires Redkite, Innovative Cloud-based Trade Surveillance Provider, to Enhance Its NICE Actimize Trading Compliance Solutions
Poster: SySAdmin
Posted on October 22, 2012 at 12:14:01 PM
NICE Acquires Redkite, Innovative Cloud-based Trade Surveillance Provider, to Enhance Its NICE Actimize Trading Compliance Solutions
RA'ANANA, Israel, October 22, 2012 /PRNewswire/ --
- Redkite's expertise in front office trading practices and technology
enables rapid deployment with minimal IT investment while providing real-time,
intraday surveillance analytics.
- This move supports customers' initiatives for lowering total cost of ownership
and deployment timeframes via direct integration with front-office systems with choice
of cloud, on-premise or hybrid deployment.
- The combined solution will leverage unparalleled market expertise in both
trading operations and compliance practices to deliver a best-of-breed analytical
superset covering equities, fixed income and futures compliance.
- This combination merges NICE Actimize's tier one on-premise expertise with
Redkite's innovative cloud approach to produce the trade compliance industry's
broadest trade compliance offering that serves financial institutions of all sizes.
NICE Systems (NASDAQ: NICE) today announced that it has entered into an agreement to
acquire Redkite Financial Markets, an emerging provider of real-time, cloud-based
institutional trade surveillance solutions. NICE Actimize's enterprise trading compliance
platform, broad library of regulatory coverage modules, market leadership and global
tier-one client presence are expected to benefit from the Redkite acquisition, with the
addition of Redkite's innovative, front-office based approach to real-time trade
surveillance to the Actimize trading compliance solutions suite.
Leveraging front office trading practices, along with system insight and know-how,
allowed Redkite to develop a compliance product that can be rapidly deployed with minimal
client IT investment and lowered total cost of ownership, while providing intraday,
real-time surveillance analytics. Redkite's coverage library includes various analytical
models including the demands of the European Securities and Markets Authority (ESMA)
Directive. It supports different asset classes such as equities, fixed income or futures,
among others.
Redkite, with origins in investment banking, has a customer base comprised of global
investment banks, broker dealers and futures clearing merchants in a range of tier one and
tier two market segments.
The acquisition will advance NICE Actimize's cloud-based trading compliance offerings,
enabling clients to be highly responsive to regulatory challenges and timelines and deploy
solutions in a more cost-efficient manner. Financial institutions will now be able to use
NICE Actimize solutions whether installed on-premise or delivered in the cloud. These
capabilities are important during this time of heightened regulatory reform, when
financial services firms require flexibility and the agility to choose between on-premise
implementation, on-demand access or a hybrid approach.
Zeevi Bregman, President and CEO of NICE Systems, said, "As the market leader in the
financial risk management and compliance space, our customers are looking to NICE for
solutions that enable them to effectively address the growing importance of compliance and
the anticipated wave of regulations. The acquisition of Redkite is an important and
strategic addition to our trade surveillance and compliance business. Expanding our
solutions portfolio will enable NICE to provide timely and cost effective solutions that
address the rapidly evolving regulatory landscape."
Notes Amir Orad, President and CEO of NICE Actimize, "Utilizing Redkite's innovative
cloud and trade surveillance technology, we can accelerate our clients' ability to quickly
deploy new compliance modules as new regulations appear while lowering total cost of
ownership. We believe that our complementary technology offerings will deliver strategic
value to tier one and tier two financial institutions alike. The Redkite technology
contribution also enhances our ability to analyze intraday trading activity in real time,
a requirement that has been increasingly on regulators' and customers' agendas."
Adds Orad, "We welcome Redkite co-founders Justin Amos and John Edge, and the team of
compliance and technology savvy professionals, to the NICE family."
Redkite co-founder Justin Amos said, "We are excited about the future and our alliance
with a company such as NICE that understands how to deliver technology globally to the
capital markets. NICE Actimize delivers a breadth and strength in financial crime
solutions that is second to none, and we are proud that the Redkite service will be part
of this team."
The Redkite team will be introduced to customers in New York at the NICE Actimize 8th
Annual Global Client Forum, an exclusive flagship gathering of executive leadership from
the world's most prominent financial institutions. Taking place from October 23-24, the
NICE Actimize Global Client Forum is an invitation-only event designed to foster
collaboration among the world's leading financial institutions.
The Company expects the acquisition to be immaterial to its fourth quarter and
full-year 2012 Non-GAAP revenues and Non-GAAP fully diluted earnings per share.
About NICE Actimize
NICE Actimize is the largest and broadest provider of financial crime, risk and
compliance solutions for regional and global financial institutions, as well as government
regulators. Consistently ranked as number one in the space, NICE Actimize experts apply
innovative technology to protect institutions and safeguard consumers and investors assets
by identifying financial crime, preventing fraud and providing regulatory compliance. The
company provides real-time, cross-channel fraud prevention, anti-money laundering
detection, and trading surveillance solutions that address such concerns as payment fraud,
cyber crime, sanctions monitoring, market abuse, customer due diligence and insider
trading. Find us at http://www.nice.com/actimize, @NICE_Actimize or NASDAQ:NICE.
About NICE Systems
NICE (NASDAQ: NICE) is the worldwide leader of software solutions that deliver
strategic insights by capturing and analyzing mass quantities of structured and
unstructured data in real time from multiple sources, including phone calls, mobile apps,
emails, chat, social media, and video. NICE's solutions enable organizations to take the
Next-Best-Action to improve customer experience and business results, ensure compliance,
fight financial crime, and safeguard people and assets. NICE solutions are used by over
25,000 organizations in more than 150 countries, including over 80 of the Fortune 100
companies. http://www.nice.com.
Trademark Note: NICE and the NICE logo are trademarks or registered trademarks of NICE
Systems. All other marks are trademarks of their respective owners. For a full list of
NICE Systems' marks, please see: http://www.nice.com/nice-trademarks.
Forward-Looking Statements
This press release contains forward-looking statements as that term is defined in the
Private Securities Litigation Reform Act of 1995. Such forward-looking statements,
including the statements by Messers Bregman, Orad and Amos, are based on the current
expectations of the management of NICE-Systems Ltd. (the Company) only, and are subject to
a number of risks and uncertainties that could cause the actual results or performance of
the Company to differ materially from those described herein, including but not limited to
the impact of the global economic environment on the Company's customer base (particularly
financial services firms) and the resulting uncertainties; changes in technology and
market requirements; decline in demand for the Company's products; inability to timely
develop and introduce new technologies, products and applications; difficulties or delays
in absorbing and integrating acquired operations, products, technologies and personnel;
loss of market share; pressure on pricing resulting from competition; and inability to
maintain certain marketing and distribution arrangements. For a more detailed description
of the risk factors and uncertainties affecting the company, refer to the Company's
reports filed from time to time with the Securities and Exchange Commission, including the
Company's Annual Report on Form 20-F. The forward-looking statements contained in this
press release are made as of the date of this press release, and the Company undertakes no
obligation to update or revise them, except as required by law.
NICE Actimize Media Contact
Cindy Morgan-Olson, +1-212-851-8842, cindy.morgan-olson@actimize.com
Corporate Media Contact
Erik Snider, +1-877-245-7448, erik.snider@nice.com
Investors
Marty Cohen, +1-212-574-3635, ir@nice.com, ET
Anat Earon-Heilborn +972-9-7753798, ir@nice.com, CET
NICE Systems Ltd.
RA'ANANA, Israel, October 22, 2012 /PRNewswire/ --
- Redkite's expertise in front office trading practices and technology
enables rapid deployment with minimal IT investment while providing real-time,
intraday surveillance analytics.
- This move supports customers' initiatives for lowering total cost of ownership
and deployment timeframes via direct integration with front-office systems with choice
of cloud, on-premise or hybrid deployment.
- The combined solution will leverage unparalleled market expertise in both
trading operations and compliance practices to deliver a best-of-breed analytical
superset covering equities, fixed income and futures compliance.
- This combination merges NICE Actimize's tier one on-premise expertise with
Redkite's innovative cloud approach to produce the trade compliance industry's
broadest trade compliance offering that serves financial institutions of all sizes.
NICE Systems (NASDAQ: NICE) today announced that it has entered into an agreement to
acquire Redkite Financial Markets, an emerging provider of real-time, cloud-based
institutional trade surveillance solutions. NICE Actimize's enterprise trading compliance
platform, broad library of regulatory coverage modules, market leadership and global
tier-one client presence are expected to benefit from the Redkite acquisition, with the
addition of Redkite's innovative, front-office based approach to real-time trade
surveillance to the Actimize trading compliance solutions suite.
Leveraging front office trading practices, along with system insight and know-how,
allowed Redkite to develop a compliance product that can be rapidly deployed with minimal
client IT investment and lowered total cost of ownership, while providing intraday,
real-time surveillance analytics. Redkite's coverage library includes various analytical
models including the demands of the European Securities and Markets Authority (ESMA)
Directive. It supports different asset classes such as equities, fixed income or futures,
among others.
Redkite, with origins in investment banking, has a customer base comprised of global
investment banks, broker dealers and futures clearing merchants in a range of tier one and
tier two market segments.
The acquisition will advance NICE Actimize's cloud-based trading compliance offerings,
enabling clients to be highly responsive to regulatory challenges and timelines and deploy
solutions in a more cost-efficient manner. Financial institutions will now be able to use
NICE Actimize solutions whether installed on-premise or delivered in the cloud. These
capabilities are important during this time of heightened regulatory reform, when
financial services firms require flexibility and the agility to choose between on-premise
implementation, on-demand access or a hybrid approach.
Zeevi Bregman, President and CEO of NICE Systems, said, "As the market leader in the
financial risk management and compliance space, our customers are looking to NICE for
solutions that enable them to effectively address the growing importance of compliance and
the anticipated wave of regulations. The acquisition of Redkite is an important and
strategic addition to our trade surveillance and compliance business. Expanding our
solutions portfolio will enable NICE to provide timely and cost effective solutions that
address the rapidly evolving regulatory landscape."
Notes Amir Orad, President and CEO of NICE Actimize, "Utilizing Redkite's innovative
cloud and trade surveillance technology, we can accelerate our clients' ability to quickly
deploy new compliance modules as new regulations appear while lowering total cost of
ownership. We believe that our complementary technology offerings will deliver strategic
value to tier one and tier two financial institutions alike. The Redkite technology
contribution also enhances our ability to analyze intraday trading activity in real time,
a requirement that has been increasingly on regulators' and customers' agendas."
Adds Orad, "We welcome Redkite co-founders Justin Amos and John Edge, and the team of
compliance and technology savvy professionals, to the NICE family."
Redkite co-founder Justin Amos said, "We are excited about the future and our alliance
with a company such as NICE that understands how to deliver technology globally to the
capital markets. NICE Actimize delivers a breadth and strength in financial crime
solutions that is second to none, and we are proud that the Redkite service will be part
of this team."
The Redkite team will be introduced to customers in New York at the NICE Actimize 8th
Annual Global Client Forum, an exclusive flagship gathering of executive leadership from
the world's most prominent financial institutions. Taking place from October 23-24, the
NICE Actimize Global Client Forum is an invitation-only event designed to foster
collaboration among the world's leading financial institutions.
The Company expects the acquisition to be immaterial to its fourth quarter and
full-year 2012 Non-GAAP revenues and Non-GAAP fully diluted earnings per share.
About NICE Actimize
NICE Actimize is the largest and broadest provider of financial crime, risk and
compliance solutions for regional and global financial institutions, as well as government
regulators. Consistently ranked as number one in the space, NICE Actimize experts apply
innovative technology to protect institutions and safeguard consumers and investors assets
by identifying financial crime, preventing fraud and providing regulatory compliance. The
company provides real-time, cross-channel fraud prevention, anti-money laundering
detection, and trading surveillance solutions that address such concerns as payment fraud,
cyber crime, sanctions monitoring, market abuse, customer due diligence and insider
trading. Find us at http://www.nice.com/actimize, @NICE_Actimize or NASDAQ:NICE.
About NICE Systems
NICE (NASDAQ: NICE) is the worldwide leader of software solutions that deliver
strategic insights by capturing and analyzing mass quantities of structured and
unstructured data in real time from multiple sources, including phone calls, mobile apps,
emails, chat, social media, and video. NICE's solutions enable organizations to take the
Next-Best-Action to improve customer experience and business results, ensure compliance,
fight financial crime, and safeguard people and assets. NICE solutions are used by over
25,000 organizations in more than 150 countries, including over 80 of the Fortune 100
companies. http://www.nice.com.
Trademark Note: NICE and the NICE logo are trademarks or registered trademarks of NICE
Systems. All other marks are trademarks of their respective owners. For a full list of
NICE Systems' marks, please see: http://www.nice.com/nice-trademarks.
Forward-Looking Statements
This press release contains forward-looking statements as that term is defined in the
Private Securities Litigation Reform Act of 1995. Such forward-looking statements,
including the statements by Messers Bregman, Orad and Amos, are based on the current
expectations of the management of NICE-Systems Ltd. (the Company) only, and are subject to
a number of risks and uncertainties that could cause the actual results or performance of
the Company to differ materially from those described herein, including but not limited to
the impact of the global economic environment on the Company's customer base (particularly
financial services firms) and the resulting uncertainties; changes in technology and
market requirements; decline in demand for the Company's products; inability to timely
develop and introduce new technologies, products and applications; difficulties or delays
in absorbing and integrating acquired operations, products, technologies and personnel;
loss of market share; pressure on pricing resulting from competition; and inability to
maintain certain marketing and distribution arrangements. For a more detailed description
of the risk factors and uncertainties affecting the company, refer to the Company's
reports filed from time to time with the Securities and Exchange Commission, including the
Company's Annual Report on Form 20-F. The forward-looking statements contained in this
press release are made as of the date of this press release, and the Company undertakes no
obligation to update or revise them, except as required by law.
NICE Actimize Media Contact
Cindy Morgan-Olson, +1-212-851-8842, cindy.morgan-olson@actimize.com
Corporate Media Contact
Erik Snider, +1-877-245-7448, erik.snider@nice.com
Investors
Marty Cohen, +1-212-574-3635, ir@nice.com, ET
Anat Earon-Heilborn +972-9-7753798, ir@nice.com, CET
NICE Systems Ltd.