Merger Rumor Sends Nice Shares Soaring Tuesday

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Shares of Nice Systems shot up 6.5% on the Tel Aviv Stock Exchange on Tuesday on rumors of a budding merger deal with Verint Systems, which is involved in similar business activities.

Neither company confirmed whether any merger talks were happening, and close associates say they do not expect this deal to come through in the near term.

Still, sources at investment bank Oppenheimer Israel stress that Nice is keenly interested in a merger that would significantly add value to the two companies.

Nice said only that merger rumors appear from time to time and refused to comment further.

Rumors of a merger between the two companies have bubbled in the market for over two years. Both Nice and Verint develop and produce programs for managing customer relations, fraud, risk and compliance, and security.

The merger rumor recently gained credibility after Verint scored a merger deal with its parent company, Comverse Technology. The merger will cancel out the controlling interest in Verint by Comverse shareholders and make Verint an independent company with full public control.

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