Battery Ventures said Monday it closed its buy of the Physical Security Business Unit, which formerly part of the security division of NICE Systems. Financial terms of the deal, which was announced in August, weren’t announced. The business will be called Qognify.
BOSTON, MA–(Marketwired – Sep 21, 2015) – Battery Ventures, a global technology investment firm, announced today that it has successfully completed the acquisition of Physical Security Business Unit (PSBU), formerly part of the security division of publicly listed NICE Systems. Through the acquisition, which was originally announced in August, Battery Ventures has established an independently operating business named Qognify.
Qognify will build on its leadership in the physical-security and mission-critical operations markets to further help clients capture, analyze and leverage big data to anticipate, manage and mitigate security and safety risks, as well as to maintain business continuity and optimize operations. The company’s customers include banks, utility companies, airports, seaports, city centers and transportation systems, as well as venues hosting sporting events and major tourist attractions.
As previously announced, Moti Shabtai, formerly the general manager of the PSBU at NICE Systems, has become president of Qognify. He is joined by Adam Markin, an experienced industry operator and former Battery Ventures executive in residence, who is the new chairman of Qognify.
Qognify is headquartered in New Jersey with additional offices in London and Singapore, and an R&D center in Israel.
More information about Qognify is available at: www.qognify.com
About Battery Ventures
Battery strives to invest in category-defining businesses in markets including software and services, Web infrastructure, e-commerce, digital media and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, the San Francisco Bay Area and Israel. Follow the firm on Twitter @BatteryVentures, visit our website at http://www.battery.com and find a full list of Battery’s portfolio companies here.