# NICE Announces Agreement to Sell its Intelligence Division to Elbit Systems > *NICE Systems Ltd.'s May 21, 2015 press release, filed as Exhibit 99.1 to a Form 6-K with the U.S. Securities and Exchange Commission. It identifies the transaction terms, the divested division's customers and function, and NICE's stated rationale.* ## Source metadata - **Publisher:** NICE Systems Ltd.; filed through SEC EDGAR. - **URL:** https://www.sec.gov/Archives/edgar/data/0001003935/000117891315001750/exhibit_99-1.htm - **Archived:** 2026-07-30 through the official EDGAR page in a browser; the original companion is the complete serialized filing DOM. - **Wayback snapshot:** https://web.archive.org/web/20260730140342/https://www.sec.gov/Archives/edgar/data/1003935/000117891315001750/exhibit_99-1.htm ## Extract > "NICE Systems (NASDAQ: NICE) has entered into an agreement to sell its Intelligence division to Elbit Systems, for a total consideration of up to $157.9 million, subject to certain performance milestones and customary adjustments." > "NICE's Intelligence division offers solutions which provide law enforcement agencies, intelligence organizations and signal intelligence agencies with tools for generating intelligence from communications." > "Within the structure of the agreement, NICE will receive $117.9 million in cash at the time of the closing. An additional amount of up to $40 million will be paid as earn-out, based upon the future business performance of the acquired division's activities." NICE CEO Barak Eilam described the divestiture as a decision "to focus on the company's more synergetic, core businesses." The release said the transaction was scheduled to close in early Q3 2015, subject to conditions. ## Notes - Tier 2 — NICE's own transaction announcement filed with the SEC. - Cited by: [[NICE Systems]].