Brookfield in exclusive talks to buy Actimize from NICE for $2bn

Sky News··USCAGB·Read original
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Summary · why it matters

Brookfield is closing in on a $2bn deal to buy Actimize, a financial crime and compliance specialist, from Nasdaq-listed NICE. Sky News has learnt that Brookfield's financial infrastructure arm, set up three years ago with the aid of the City grandee Sir Ron Kalifa, is in exclusive talks to acquire the business. Sources cautioned that a deal had yet to be finalised and could yet fall apart. If completed, the transaction would deepen Toronto-based Brookfield's push into financial infrastructure assets, following its acquisition of a stake in Barclays' merchant acquiring arm last year. Actimize was put up for sale by NICE earlier this year and was reported to have drawn interest from private equity firms including Advent International and New Mountain Capital; NICE bought the business in 2007 for $280m, and it now focuses on AI-driven fraud prevention and anti-money laundering products for financial institutions worldwide. Brookfield declined to comment on Wednesday morning.

Impact on assets 4

Financials▲ · 2 stocks
Climate Adaptation & Water▲ · 1 stocks
Nice Corporation
8089
▲ PositiveCapitalrelevance

NICE is selling Actimize for $2bn, a divestiture of a business it bought in 2007 for $280m.

Artificial Intelligence▲ · 1 stocks
Nice Ltd ADR
NICE
▲ PositiveCapitalrelevance

NICE is selling its Actimize unit to Brookfield for $2bn, a divestiture of a business it bought in 2007 for $280m.

Off-coverage companies 2

Advent InternationalPrivate± Mixed
relevance

New Mountain Capital, L.L.C.Private± Mixed
relevance