30 May 2015
Your browser is unable to support Flash files.

Nice to acquire Fortent for $73.5 million

01 September 2009  |  4971 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
Google unveils Android Pay
5408 views comments | 23 tweets | 27 linkedin
CBA to test Ripple for intra-bank transfer...
5297 views comments | 25 tweets | 21 linkedin
Visa Europe opens innovation hub in Israel
5040 views comments | 19 tweets | 9 linkedin
Anti-Money Laundering From False Positives...
4863 views 0 | 1 tweets | 1 linkedin
eBay and Village Capital run accelerator f...
4859 views comments | 10 tweets | 4 linkedin

Featured job

to £120K base ($185K base) + bonus, benefits
London or New York City (UK or USA)

Find your next job