NICE Ltd.

NICE is a New York Metro based, public, global company with operations around the world. It specializes in contact center software (NICE CXone), artificial intelligence, digital and workforce engagement management solutions . The company serves various industries, such as financial services, telecommunications, healthcare, outsourcers, retail, media, travel, service providers, and utilities.

NICE Ltd.
TypePublic
TASE: NICE
Nasdaq: NICE
IndustrySoftware
Founded1986 (1986)
Headquarters
Ra'anana
,
Israel
Key people
  • David Kostman​ (chairman)
  • Barak Eilam (president &​ CEO)
RevenueIncrease $2.067 billion (2022)[1]
Increase $290 million (2022)[1]
Increase $225 million (2022)[2]
Number of employees
6,800 (2020)[1]
SubsidiariesNICE Systems Ltd.
NICE Systems Inc.
Nexidia
NICE Actimize Ltd.
NICE Vision
NICE CXone
Websitenice.com

The primary listing of the company's shares is on the Tel Aviv Stock Exchange; where it is part of the TA-35 Index.[3] Barak Eilam became CEO in April 2014, replacing Zeevi Bregman. Eilam previously headed the company's Americas division.[4][5] As of November, 2020 the company had ~6,800 employees.[1]

History

NICE was founded in 1986 as Neptune Intelligence Computer Engineering (NICE) in Israel. Much of the early technology developed by NICE was for contact centers, financial services and business intelligence markets.[6] The computer engineers that founded NICE created a telephony voice recording system in the early 90s, followed by ATM software under the subsidiary, NICECom.[7] The ATM vendor quickly grew its operations in the 90s and NICE sold its subsidiary to 3Com in 1994 for $54 million.[8]

It was announced that NICE would be acquiring UK-based Fizzback in 2011. According to TechCrunch, the value of the deal for Fizzback was said to be $80 million.[9] The UK company specialized in customer feedback, collecting real-time information about customer experience. Fizzback processed 150 million individual feedback reports annually at the time of the acquisition. Many of these reports could be taken in real-time from platforms such as social media.[9] Zeevi Bregman announced that he would be leaving his role as CEO in 2014, to be replaced by Barak Eilam. Eilam previously served as President, a role he had held for 18 months before becoming CEO.[10]

In 2016, NICE acquired inContact for a reported $960 million. It was stated at the time of the deal that it would allow NICE to expand their customer services offering and integrate a cloud contact center, using a Contact Center as a Service (CCaaS) approach. Paul Jarman of inContact would continue as CEO to lead the inContact division once integrated into NICE.[11]

In 2018, NICE acquired The Mattersight Corporation. Mattersight was founded as a behavioral analytics software company in 1994, before diversifying into cloud analytics and its SaaS offering. The agreed deal was $90 million, which made the total acquisition price 25% above share value. Mattersight's service offering was integrated into NICE's portfolio of products.[12]

In May 2019, NICE acquired Brand Embassy. It was stated that this would allow them to manage customer interactions across a greater number of platforms, including social media. According to BizJournals, this would include 30 additional channels, such as Facebook, WhatsApp and LinkedIn.[13] In 2020, NICE's Barak Eilam was announced as CEO of the Year by Calcalist.[14]

Recently, NICE have been touted by the media as a potential benefactor to the growth of the AI and chatbot industries.[15] In 2021, growth in numerous tech sectors led to NICE receiving a valuation of $17 billion, making it the most valuable company in Israel.[16] At Interactions Live 2022, NICE demonstrated how brands can build frictionless customer experiences and how the Customer Experience Interactions (CXi) framework can assist the creation of these frictionless experiences. The line-up of speakers included 43rd President of the United States, George W. Bush.[17]

References
  1. "NICE SYSTEMS LTD (NICE:Tel Aviv)". The Wall Street Journal . 2 June 2017. Retrieved 6 August 2020.
  2. "NICE Ltd. (NICE)".
  3. http://www.tase.co.il/TASEEng/MarketData/Indices/MarketCap/IndexMainDataMarket.htm?Action=2&Inde
  4. Scheer, Steven (February 4, 2014). "Nice Systems names Americas chief Barak Eilam as CEO". Thomson Reuters. Retrieved 11 April 2016.
  5. "seekingalpha". Seeking Alpha. August 6, 2020. Retrieved 6 August 2020.
  6. "NICE Marks 20th Anniversary". NICE News. March 2006. Archived from the original on October 22, 2007. Retrieved November 6, 2016.
  7. "3COM Completes NICECom Asset Acquisition". TechMonitor. October 21, 1994.
  8. Fisher, Lawrence M. (December 16, 1994). "Strong Profit at 3Com Lifts Its and Rivals' Stock Prices". New York Times.
  9. "NICE Systems acquires Fizzback for approximately $80 million". TechCrunch. September 19, 2011.
  10. "Nice Systems Names Americas Chief Barak Eilam as CEO". Haaretz. February 5, 2014.
  11. "Software group Nice Systems to buy inContact for $940 million". Reuters. May 18, 2016.
  12. "NICE Systems buys US cloud analytics co Mattersight". Globes. April 26, 2018.
  13. "Nice takes over Brand Embassy, touts 30% jump in cloud-tech revenue". BizJournals. May 16, 2019.
  14. "NICE CEO Barak Eilam Named 2020 CEO of the Year by Calcalist". NASDAQ. December 30, 2020.
  15. Barlow, Scott (28 February 2023). "Fifteen companies that benefit from the chatbot/AI arms race". The Globe & Mail.
  16. Sternlicht, Hezi (August 8, 2021). "NICE becomes Israel's highest valued company thanks to cloud revenue spike". CTech.
  17. "NICE Interactions Live 2022 to Showcase Strategies for Mastering Frictionless Customer Experiences". The Globe and Mail. May 10, 2022.
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