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Digital CCTV manufacturer NICE is acquiring FAST Video Security AG, a Swiss-based developer of video systems.
Under the agreement, NICE reports, it would acquire FAST for about $21m in cash at closing, with potential earnouts based on performance milestones amounting to a maximum of $12 million, payable over the next three years. The transaction is subject to the satisfaction of customary closing conditions and is anticipated to close in early 2006.
NICE adds that it has over 23,000 customers in 100 countries, including the world’s top 10 banks and over 75%pc of the Fortune 100 companies.
