Business Services Industry
3COM buys NiceCom for $58.5 M.
Israel Business Today, October, 1994
3COM Corporation has agreed to purchase NiceCom Ltd, a subsidiary of Nice Systems for approximately $58.5 million. Nice Systems began its high-speed data networking business in 1989. In January 1993, Nice spun off its data networking activities and set up NiceCom. The company has been focusing on the development of innovative solutions for the integration of LAN switching and ATM switching. Last month, NiceCom was the first company to introduce a comprehensive Ethernet/ATM product line.
Last January, NiceCom concluded a $5 million private placement for 25% of the company's equity with lead investors Bank Hapoalim Provident Funds and the Mofet and Star venture capital funds. Nice Systems holds 53% of NiceCom shares.
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