Verint, Nice systems trade higher following deal rumors

theflyonthewall.com

Verint Systems (VRNT) is up $2.32, or 7.37%, to $33.82 in early-morning trading after Israeli financial site "Globes" reported that Nice Systems (NICE), which provides civil defense monitoring systems, is in talks to buy its rival for $1.5B. The publication said that if a deal closes it will be for cash and stock. Nice's offer would represent a 19% premium on its market cap of $1.26B, Globes added. Following the report, Oppenheimer noted that Verint will become an independent company by February 4. The research firm thinks the merger would be beneficial to both companies and would be applauded by investors. A spokesperson for Nice commented that "There has always been speculation on the issue but Nice does not comment on rumors or speculation," Reuters reported. Shares of Nice are $2.33 higher, or 6.69%, to $36.98.

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