Nice's Cyber and Intelligence division offers solutions which provide law enforcement agencies and intelligence organisations with tools for creating communication intelligence. The division's yearly revenue in 2014 was in the high tens of millions of dollars.

This divestiture will allow Nice, headquarterd in Ra Anana, Israel, to place greater focus on the execution of its long-term strategic plan and to focus on its core markets and business model.

“We are proud of the many years of success this division has enjoyed,” said Barak Eilam, CEO of Nice. “As we continue to execute our long-term strategic plan, we have arrived at a juncture where we believe it is in our best interest to divest Intelligence in order to focus on the company’s more synergetic, core businesses.”

Eilam continued, “We are pleased to reach this agreement with a market leader such as Elbit Systems, which I am confident will ensure the continued success and growth of this important business, and serve as a good home for the division’s customers and employees.”

The Cyber and Intelligence division will be acquired by Cyberbit Ltd, Elbit Systems' subsidiary, recently established in order to consolidate Elbit Systems' existing activities relating to the Cyber Intelligence and Cyber Security markets. Cyberbit will focus on both the emerging government and commercial cyber markets, leveraging Elbit Systems extensive and proven cyber experience and technologies.

Adi Dar, an Executive Vice President of Elbit Systems, was appointed as Cyberbit's General Manager. The Nice Cyber and Intelligence division's employees will become employees of Cyberbit.

Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems, said: "The acquisition of Nice's division is a significant milestone in our strategy to bring Elbit Systems cyber capabilities to the level of global leaders. Nice is a well- known world leader in the cyber intelligence industry, and its business activities and capabilities are complementary to ours. The acquisition will enable us to provide our customers with end-to-end, market leading cyber solutions. Machlis added: "We welcome Nice's Cyber and Intelligence division employees, known for their cutting edge technological capabilities and operational experience. I believe that our combined technology synergetic forces, backed by on-going investment in the cyber field and the joint market position will lead Cyberbit to success and a world leading position".