18 April 2015

Nice to acquire Fortent for $73.5 million

01 September 2009  |  4935 views  |  0 cash

Israeli digital recording firm Nice has acquired anti-money laundering outfit Fortent for $73.5 million in cash.

The deal creates a powerhouse in the analytics-driven financial crime and compliance market as Fortent is combined with Nice subsidiary Actimize.

With limited overlap in customer base and complementary analytics technology, Actimize clients will now include the majority of the world's largest banks and all top ten global banks. The combined group is expected to generate revenues in excess of $100 million in 2010.

Sandy Jaffee, chairman and CEO at Fortent, comments "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."

In an e-mailed statement on the ramifications for the installed user base of both companies, Actimize says it will "integrate both companies' platforms...while continuing to invest in existing products and clients during the integration process".

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

03 December, 2008
03 November, 2008
27 October, 2008
08 July, 2008
24 June, 2008
14 April, 2008
12 February, 2008
21 November, 2006
29 June, 2006

Related company news

 

Top topics

Most viewed Most shared
UK banks covering up cybercrime losses - C...
6604 views 13 comments | 26 tweets | 13 linkedin
BBVA buys UX firm Spring Studio
6225 views comments | 32 tweets | 17 linkedin
Card is king as cash usage continues to fa...
6061 views comments | 22 tweets | 14 linkedin
Digital and core renewal to drive bank IT...
4699 views comments | 32 tweets | 25 linkedin
World Bank reports big drop in numbers of...
4330 views 10 comments | 36 tweets | 12 linkedin

Featured job

Competitive
Paris

Find your next job