NICE Systems plans up to $475 million in debt for inContact purchase

By Sara Rosenberg

New York, May 18 – NICE Systems expects to get up to $475 million in debt to help fund its acquisition of inContact Inc., company officials said in a conference call on Wednesday.

JPMorgan Chase Bank NA and Royal Bank of Canada provided the debt financing commitment.

Other funds for the transaction will come from cash on hand.

Under the agreement, inContact stockholders will receive $14 per share in cash. The transaction values inContact at about $940 million, including repayment of inContact’s outstanding convertible debt and excluding inContact cash on hand.

Closing is expected in the second half of this year, subject to inContact stockholder approval, certain regulatory approvals and other customary conditions.

NICE is an Israel-based provider of software solutions. inContact is a Sandy, Utah-based provider of cloud contact center software.

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