NICE Acquires IEX and Performix Technologies
NICE Systems signed a definitive agreement to acquire IEX, a worldwide provider of contact center workforce management solutions. The company also signed a second definitive agreement to acquire Performix, a provider of contact center performance management. The transactions are subject to the satisfaction of customary closing conditions and are anticipated to close towards the end of the second or the beginning of the third quarter of 2006.
IEX is a vendor in workforce management, strategic planning and performance management solutions for the contact center market. IEX's product TotalView provides a solution that compiles data across the enterprise designed for forecasting, planning and scheduling. Under the agreement, NICE will acquire the shares of IEX, a wholly owned subsidiary of Tekelec (NASDAQ: TKLC) for approximately $200 million in cash.
Performix is a provider of contact center performance management (CCPM). Under the agreement, NICE will acquire Performix for $13.2 million in cash. The Performix purchase price may be increased by up to an additional $6.15 million based on certain performance criteria (of which up to $3 million at closing).
NICE is raising its full year guidance for 2006, incorporating the expected contribution of the acquisitions for the second half of the year. The acquisitions are expected to add $28 million to $30 million to NICE's top-line in 2006, increasing the company's revenues guidance to $395 million to $405 million, up from $367 million to $375 million. Pro-forma EPS in 2006 is expected to increase to a range of $2 to $2.12 per diluted share, up from $1.90 to $2. This outlook may change as the integrations proceed and acquisition accounting is finalized.
Companies and Suppliers Mentioned