Home > Boards > US Listed > Electronics and components > NICE-Systems Ltd. (NICE)

Nice Systems won't confirm, or deny, report that

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
midastouch017 Member Profile
 
Followed By 112
Posts 24,624
Boards Moderated 6
Alias Born 02/07/04
160x600 placeholder
NICE Satmetrix Selected by Financial Services Company Midland States Bank to Build a Unified Customer-Centric Culture with a ... Business Wire - 10/21/2020 6:30:00 AM
Leading European Bank Uses NICE Authentication to Improve Security and Customer Experience Business Wire - 10/20/2020 6:30:00 AM
NICE Investigate Brings Digital Cloud Transformation to Lancashire Constabulary to Provide Faster, More Efficient Investigati... Business Wire - 10/19/2020 6:30:00 AM
NICE inContact CXone Stays Ahead of Fast-Changing Customer Expectations with Innovative Features that Fuel Modern Contact Cen... Business Wire - 10/15/2020 6:30:00 AM
UK’s Cleveland Police Selects NICE Investigate for Digital Evidence Management Process Transformation in the Cloud Business Wire - 10/14/2020 6:30:00 AM
NICE to Showcase Strategies for Driving Agile Customer and Employee Experiences Business Wire - 10/13/2020 6:30:00 AM
NICE Recognized as a Robotic Process Automation Leader in Everest Group's PEAK Matrix for Third Consecutive Year Business Wire - 10/12/2020 6:30:00 AM
NICE Actimize Announces ENGAGE LIVE, The Largest Virtual Financial Crime Risk Management Customer Event of the Year, Focused ... Business Wire - 10/5/2020 7:00:00 AM
Securities Registration: Employee Benefit Plan (s-8) Edgar (US Regulatory) - 10/1/2020 6:07:45 AM
NICE Announces the 2020 PSAPs’ Finest Award Winners Honoring Dedicated Emergency Communications Professionals Business Wire - 9/22/2020 6:30:00 AM
NICE Actimize Achieves Highest Score in Aite Group’s Global Fraud and Money Laundering Case Management Report Business Wire - 9/17/2020 6:30:00 AM
NICE Robotic Process Automation Ranked the Market Leader in Attended RPA by Zinnov, Driven by NEVA and Unparalleled AI Business Wire - 9/16/2020 6:30:00 AM
NICE inContact CXone Delivers Best-In-Class Contact Center Capabilities to Ergon Energy Retail Business Wire - 9/15/2020 6:30:00 AM
NICE Honors CX Excellence Award Winners at Interactions Live, Celebrating the Delivery of Exceptional Experiences & CX Agilit... Business Wire - 9/14/2020 6:30:00 AM
Report of Foreign Issuer (6-k) Edgar (US Regulatory) - 9/10/2020 8:30:54 AM
NICE Announces Interactions Live, The Industry’s Biggest Customer Experience Virtual Event & its Lineup of Award-Winning Ce... Business Wire - 9/1/2020 6:30:00 AM
Independent Research Firm Names NICE inContact CXone a Leader in Cloud Contact Center Evaluation Business Wire - 8/26/2020 10:37:00 AM
NICE Announces Pricing of Offering of $400,000,000 of 0% Convertible Senior Notes Due 2025 Business Wire - 8/24/2020 8:15:00 PM
NICE Announces Proposed Offering of $400,000,000 of Convertible Senior Notes Due 2025 Business Wire - 8/24/2020 7:23:00 AM
NICE Actimize Unveils Xceed, a Next-Generation AI-Powered Financial Crime Risk Management Cloud Platform Business Wire - 8/19/2020 6:30:00 AM
Report of Foreign Issuer (6-k) Edgar (US Regulatory) - 8/18/2020 12:47:18 PM
Report of Foreign Issuer (6-k) Edgar (US Regulatory) - 8/6/2020 4:07:20 PM
Report of Foreign Issuer (6-k) Edgar (US Regulatory) - 8/6/2020 7:04:50 AM
NICE Reports 30% Cloud Growth for Second Quarter 2020 Business Wire - 8/6/2020 5:30:00 AM
NICE inContact Ranked as the Market Leader in Omdia Multichannel Cloud Contact Center Solution Decision Matrix Business Wire - 8/5/2020 6:30:00 AM
midastouch017   Thursday, 09/14/06 06:28:57 AM
Re: None
Post # of 45 
Nice Systems won't confirm, or deny, report that it's buying Witness
14.9.06 | 12:34 By Omri Cohen
Nice Systems (Nasdaq: NICE) is not denying rumors that it's positioning to buy rival company Witness Systems (Nasdaq: WITS). Naturally, it is not confirming the rumors, either.

"The company does not comment on rumors," it commented unhelpfully to the Tel Aviv Stock Exchange, after a report in Yedioth Ahronoth that it's about to buy rival company Witness for more than $750 million, in a stock and cash deal. That would be a huge, material acquisition for a company whose market cap on Nasdaq is $1.32 billion.

Pressed by TheMarker, the Nice spokeswoman refused to comment. The company's chief financial officer Ran Oz repeated that Nice doesn't comment on rumors, and sought to stress the mistakes that had appeared in the Yedioth article in respect to Nice's business.

"If we have anything to say, we say it," he said. "We run our business and don't respond to speculation. It seems that whoever wrote the article doesn't understand the business," Oz added.

When silence speaks volumes

Non-denial is also a response, sometimes. Two months ago msystems (Nasdaq: FLSH) CEO Dov Moran wiggled out of questions about an imminent merger, and indicated that msystems would remain independent. But he did not explicitly deny the report and shortly after that interview, msystems was bought by SanDisk.

Is here any evidence beyond Nice's non-denial? Yes: one is Nice's aggressive acquisitions policy, and another is its poor record for transparency when it comes to material issues.

Regarding the aggressive acquisitions policy, two months ago Nice, which develops voice and video recording systems for security and customer-service purposes, bought IEC of Richmond for $200 million cash. IEX sells software for manpower management, strategic planning and more. At the same time Nice bought a smaller company, Performix of Massachusettsm for $13.2 million.

Raising money - what for?

As for the transparency issue, Nice has been assiduous about reporting material developments, after the event. But a claim could be made that it's cagey with the whole truth in advance.

For instance, last year CFO Oz was asked about the company possibly raising money: rumors were running rampant. He said that nice was a profitable company with cash flow, and therefore would need a good strategic reason to raise money in any way. "We won't raise money just to sit on a mountain of cash," Oz stated, and lo and behold, three weeks later the company published a shelf registration to raise up to $220 million. In December it raised $213 million.

No, the law does not require Nice to respond to rumors. It doesn't have to answer questions from reporters or the stock exchange. But if it really is maneuvering to buy Witness for $750 million in stock and cash, it would be hugely material to Nice. Its laconic response is far from convincing.

Witness' market cap on Nasdaq is $580 million, after having lost 12% of its value this year. For the first half of 2006 Witness reported a 22% increase in revenues to $106.3 million, and profit of $6.9 million. In the first half of 2005,it had lost $8.8 million.

Incidentally, Witness is delinquent in its regulatory filings and faces potential delisting from Nasdaq. On Wednesday, yesterday, another class action motion was filed against it, for alleged misrepresentations to shareholders based on a stock options scandal.

http://www.haaretz.com/hasen/spages/762764.html

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist
Consent Preferences