Thursday, April 27, 2006

Tekelec Sells its IEX Group to NICE Systems for $200 Million

Tekelec agreed to sell its wholly owned subsidiary, IEX Corporation, a global provider of workforce management and optimization technology for contact centers, to NICE Systems for $200 million in cash.

Commenting on the sale, Frank Plastina, President and CEO of Tekelec said, "We are very pleased with this transaction because it converts a non-telecom business unit into cash at an attractive valuation and under favorable terms. IEX has been an important contributor to our financial performance for the last several years, but it was not a component of our long-term telecom systems growth strategy. This deal will significantly strengthen our balance sheet and enhance our ability to consider complementary strategic opportunities in our core business. The price and terms of this transaction confirm IEX's position as a leading solution provider in a rapidly consolidating industry. We believe that NICE Systems is best suited for the IEX acquisition, due to the clear synergies in market leadership, technology innovation, engineering expertise, and management experience."

Tekelec also noted that it has no immediate plans for the proceeds.

Separately, NICE Systems also signed a definitive agreement to acquire Performix, a pioneer of contact center performance management, for $13.2 million in cash.


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