Nice & fast for digital video

Nice Systems is set to strengthen its European security presence by acquiring Swiss digital recording manufacturer Fast Video Security AG for around $21 million.

With the transaction, Nice expects to offer a full suite of IP-based solutions, which are complementary to its existing digital video offering. It will extend its presence in Europe by incorporating Fast Video’s channel partners and customer base.

Nice Systems has also announced a supply relationship with Honeywell, which builds on the existing collaboration between Honeywell and Fast. Both companies will be able to provide a full range of smart IP-video management and analytic solutions. The acquisition is expected to add $10 million to Nice’s top-line in 2006, increasing the company’s revenues guidance to $365-$373 million.

“Honeywell has maintained a solid relationship with Fast for a number of years,” said John Lorenty, president of Honeywell Systems Group. “We are delighted by this opportunity to offer an expanded suite of solutions through our work with Nice.”

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