Battery Ventures $100 million acquisition of Physical Security Business Unit

Overview:

• US private equity firm Battery Ventures acquired the Physical Security unit from Nice Systems for fee of up to $100 million. 
• Nice, an Israel based software designer, was paid $85 million in cash for the sale of the unit, which produces video surveillance software, and will be receive an additional $15 million depending on the businesses performance. 
• Since the sale's completion, Physical Security has been re branded Qognify. 

Ben Naylor - Regional editor