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Nice Extends Mattersight Tender Offer for the Fourth Time

Nice Extends Mattersight Tender Offer for the Fourth Time

The Israeli software company announced the acquisition agreement in April, but has been held back by the American regulator again and again

Dror Reich | 11:54  25.06.2018
Nasdaq-listed software company Nice Ltd. has filed on Friday its fourth revision to its tender offer for all outstanding shares of Mattersight Corporation, a company offering behavioral analytics software.

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The company is extending its offer until July 6 "to allow additional time for the satisfaction of the conditions to the offer," Nice stated, as the deal has yet to receive the clearance of the Committee on Foreign Investment in the United States (CFIUS).

Nice CEO Barak Eilam. Photo: Amit Sha Nice CEO Barak Eilam. Photo: Amit Sha'al Nice CEO Barak Eilam. Photo: Amit Sha

Mattersight's stock price remained unchanged following Friday's announcement. Nice is down 0.81% in pre-trading.

Founded in 1986 by a group of former Israeli military intelligence officers, Nice offers communication, tracking and surveillance products. The company previously provided its software to law enforcement and intelligence agencies, but in recent years has shifted to a more commercial focus.

In 2015, the company sold its intelligence division to Israel-based defense electronics company Elbit Systems Ltd. for $158 million, and its physical security unit to Battery Ventures for $100 million. In 2016, Nice acquired Utah-based inContact, which provides software for cloud-based customer service centers, for $940 million, and analytics firm Nexidia for $135 million.

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Nasdaq-listed Mattersight develops cloud-based analytics for customer service organizations. The company has seen a 70% drop in stock value since its September 2015 peak, in part due to its competition with Nice, since it has entered the call center systems for enterprises market.

In April, Nice announced it has entered into an acquisition agreement with Mattersight, in a deal worth around $90 million. Every foreign company looking to acquire an American company must receive approval within 75 days of making the offer. The offer could be extended a few more times. All other regulatory approvals and clearances have been obtained for the deal.
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