Israeli communications provider NICE Systems has bought out its largest Australian distributor, Hannamax Hi-Tech, for $1.8 million in cash plus a future installment based on performance.
NICE Systems said in a statement that the acquisition would help it build a direct presence and strengthen operations in Australia.
"Hannamax, which will now trade as NICE Australia, is the first distributor that NICE has acquired worldwide," a spokesperson said.
The Australian market was important to NICE Systems and the company intended to take a more "hands-on role" in the region, the spokesperson said.
NICE Systems said Asia-Pacific was the fastest growing region for the company and Australia was one of the largest contributors to revenue. Further local expansion was possible, it said.
"The strategic acquisition will allow NICE to address growing local demand for its multimedia content analytics solutions and provide existing customers with a faster, more immediate support network," the company said.
NICE makes advanced content analytics offerings for multimedia systems such as communications centres. The company also offers public sector security offerings for video monitoring and analytics in environments such as corporations and airports.
Doron Ben-Sira, Asia-Pacific president of NICE, said the Australian market was important to the company's regional success.
"We expect this transaction to bring immediate value to our existing and potential customers through enhanced support," he said.
The acquisition would be "seamless", as the integration of the companies would be "relatively straightforward", Ben-Sira said.
The NICE statement said the company would add some 17 Hannamax employees, which would extend its presence and resources to sell and support its end-to-end Insight from Interactions applications.
Hannamax has worked with NICE Systems since 1993, NICE said.
Hannamax goes all NICE
By Staff Writers on Oct 11, 2005 11:40AM