NICE Sells Off Military Business
DVR maker NICE Systems has sold off its COMINT/DF military-related business. ELTA Systems Ltd. (ELTA), a subsidiary of Israel Aircraft Industries Ltd. (IAI), has purchased the assets of COMINT/DF for $4 million.
The assets include the intellectual property, fixed assets, inventory, and contracts related to NICE’s COMINT/DF product line, which includes spectral surveillance and direction finding systems that detect, identify, locate, monitor and record transmission sources. The transaction has been approved by both companies’ boards of directors and is subject to regulatory approvals and customary closing conditions.
“The COMINT/DF business has excellent technology, but the military business is not a major focus for NICE.” said Haim Shani, president and CEO of NICE, in a release. “We believe that our shareholders will be better served by divesting these assets and focusing our attention and resources on our core enterprise and security-related businesses.”
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