Latest news with #NiCE
Forbes
2 days ago
- Business
- Forbes
NiCE's $955M Cognigy Deal Targets $30B AI Customer Experience Opportunity
The war for CX specialized AI platform dominance continues with NiCE buying Cognigy. The deal enhances NiCE's position in the emerging $30 billion market for AI agents that can handle complex customer interactions from start to finish In a move that signals a tidal wave of upcoming of artificial intelligence acquisitions, NiCE snapped up German conversational AI leader Cognigy for approximately $955 million. The acquisition showcases a strategic bet on how conversational and agentic AI will drive the future of customer interactions in an increasingly AI-enhanced application landscape. The deal, expected to close in Q4 2025 pending regulatory approvals, combines NiCE's CXone Mpower platform with Cognigy's enterprise-grade conversational and agentic AI capabilities. Cognigy's customer roster includes large firms such as Mercedes-Benz, Nestlé, and Lufthansa Group. Cognigy currently runs production deployments handling millions of customer interactions across multiple languages and channels. The Cognigy portfolio is expected to achieve 80% year-over-year ARR growth in 2026, reaching an estimated $85 million. The acquisition shows how NiCE is valuing where the AI market is going—particularly as major cloud providers like AWS, Google Cloud, and Microsoft are making massive investments in agentic AI platforms. The Agentic AI Arms Race: Context for the Acquisition You may be wondering why NiCE invested $995 million in a startup when it was already developing its own AI platform with MPower. NiCE's acquisition comes at a pivotal moment as the technology industry shifts toward "agentic AI"—autonomous software systems that can reason, plan, and take action independently rather than simply respond to queries. Unlike simple chatbots that follow predetermined scripts, these agents can adapt to new situations, access multiple systems, and resolve issues that previously required human intervention. The acquisition gives NiCE a proven platform for agent development and deployment, rather than having to build these capabilities from scratch or rely on generic cloud provider tools. The timing of the acquisition is no coincidence. Just months before NiCE's announcement, AWS, Google Cloud, and Microsoft unveiled various components to create more comprehensive agentic AI platforms. Meanwhile, all three of these cloud computing providers offer conversational AI and contact center solutions that compete with NiCE in various market segments. Over the past year, these hyperscalers have worked hard to eliminate any contact center feature gaps while driving innovation in areas such as conversational AI and agentic AI. For example, at Google Cloud Next 2025, the company introduced its Agent Development Kit (ADK) that allows developers to build multi-agent systems with less than 100 lines of code, alongside the Agent2Agent (A2A) protocol for enabling AI agents from different vendors to communicate with each other. More than 50 technology partners, including major enterprise software providers like Salesforce, ServiceNow, and SAP, have signed on to support this protocol. This July, AWS upped the ante with Amazon Bedrock AgentCore, which enables organizations to deploy and operate secure AI agents at enterprise scale with seven core services, alongside a new AWS Marketplace category for AI agents and tools, and a $100 million investment to boost agentic AI development. The AWS Marketplace now features more than 900 agents and related support from providers including Anthropic, Salesforce, IBM, PwC, and others. Meanwhile, the 2025 release wave 1 for Dynamics 365 Contact Center introduced Copilot and agent capabilities to automate intent determination for evergreen self-service and autonomous knowledge management. Additional key features include multimodal support in the customer intent agent, enhanced unified routing features, and new workforce and quality management capabilities. Why This Acquisition Matters: 3 Strategic AI Customer Experience Imperatives The acquisition and NiCE's current strategy targets what it identifies as a massive underserved market. According to CEO, Scott Russell, AI-led self-service resolves only about 5% of customer interactions, leaving enormous room for growth. The company projects this could represent a $30 billion market opportunity as businesses seek to automate more sophisticated customer service scenarios. Enterprise buyers have told Lopez Research that conversational interfaces for customer service experiences are one of the first three use cases that their firms will deploy when looking to add AI into the organization. The combined entity is positioning itself to capture a significant share of this expanding market. One of the most compelling aspects of this deal is the minimal overlap between the two companies' customer bases. NiCE CEO Scott Russell shared with industry analysts that "customer overlap is relatively low," creating significant cross-selling opportunities. NiCE can introduce Cognigy's AI capabilities to its established North American enterprise clients, while Cognigy can leverage NiCE's broader customer experience platform to expand within its European customer base. "Companies aren't just looking to upgrade their customer service. They're reimagining it, and they're doing it AI-first," Russell emphasized. NiCE said the acquisition will aid its strategy to move customer service from a reactive function into a proactive, intelligent system that can resolve issues autonomously or seamlessly hand off to human agents when needed NiCE has long said that it is a customer experience company, yet there are so many different technologies that are part of creating the customer experience. While Contact Center as a Service (CCaaS) offers solutions for customer support, NiCE aims to expand its reach beyond traditional contact center operations to encompass comprehensive workflow orchestration and proactive communications. Expansion beyond the contact center isn't a new strategy for NiCE. However, combining the two platforms is expected to accelerate its ability to automate and orchestrate entire customer journeys from initial intent to final fulfillment, spanning front office, middle office, and back office operations. For example, Cognigy said one of its financial services customers is processing 10s of thousands of outbound collections calls every week on its platform. The goal is also to add more proactive outbound marketing scenarios. The technical capability to orchestrate these complex workflows requires deep integration between conversational AI, workflow automation, and enterprise systems. Cognigy positions itself as enabling organizations to "design, build, and operate self-service agentic AI agents at scale." This capability becomes increasingly important as major cloud providers expand their own agentic AI offerings. AWS's recently announced AgentCore to streamline development with features such as memory management, identity controls, and tool integration. At the same time, Google's Customer Engagement Suite offers "human-like voices, the ability to understand emotions so agents can adapt better during conversations, and streaming video support so virtual agents can interpret and respond to what they see in real-time. Additional Benefits: European Presence and Data Compliance Advantages The acquisition provides NiCE with a crucial European footprint at a time when data sovereignty and AI regulations are reshaping enterprise technology decisions. Cognigy's German heritage and European operations position the combined entity to address growing demand for "Sovereign AI" solutions. What is Sovereign AI? Sovereign AI refers to a country or region's capability to produce artificial intelligence using its infrastructure, data, and workforce, while maintaining control over AI development and deployment. For enterprises, this means AI solutions that comply with local data protection laws (like GDPR), operate within national borders, and reduce dependence on foreign AI providers. As Cognigy CEO Philipp Heltewig explained, "We see it as an investment into the European ecosystem," noting that this represents "the biggest AI exit in Europe ever." For multinational corporations operating under increasingly strict data residency requirements, having AI capabilities that can operate within European sovereign cloud environments becomes a competitive necessity. For example, Google Cloud has also recognized this trend with its Sovereign AI solutions on-premises, allowing Gemini to run in Google Distributed Cloud locally and in air-gapped environments. Navigating the Multi-Platform Reality Through Protocol Standards While the acquisition creates a powerful integrated platform, both companies acknowledge the reality of enterprise technology environments. The companies expect customers will continue to use multiple platforms and vendors. The key is enabling seamless orchestration across these diverse systems. This challenge is driving the adoption of emerging protocols that both Google and AWS are actively promoting. Google's Agent2Agent (A2A) protocol "will allow AI agents to communicate with each other, securely exchange information, and coordinate actions on top of various enterprise platforms or applications," Additionally, AWS's marketplace now supports solutions that work with "Model Context Protocol (MCP) and Agent-to-Agent (A2A) standard protocols." For business leaders, this means choosing vendors that can integrate with existing technology stacks while providing a path toward more unified AI-driven operations. The fact that both major cloud providers are supporting these interoperability standards suggests the industry is moving toward a more connected, agent-driven ecosystem—precisely what NiCE and Cognigy are positioning to deliver. The Broader Implications for Enterprise AI Strategy This acquisition reflects several important trends that business leaders should consider when developing their AI strategies. First, speed matters. As Russell noted, "speed is a choice." In rapidly evolving technology markets, companies that move quickly to integrate advanced capabilities often gain insurmountable competitive advantages. The fact that major cloud providers are investing billions in agentic AI infrastructure means the competitive window for building differentiated customer experience capabilities is narrowing. Second, AI is complicated and platform integration often beats point solutions. The most successful AI deployments will be those that integrate across entire business processes, not just individual functions. Customers expect seamless experiences regardless of which systems are handling their requests behind the scenes. Finally, it's only the beginning for both the creation of AI-enabled CX platforms and acquistion rollups. The NiCE-Cognigy acquisition represents both a consolidation play and a bet on a strategy to embed the functionality of conversational and agentic AI across business operations. For enterprise leaders, the key question is how they'll construct CX applications and workflows in the future. While NiCE touts a vision of AI-first customer experience, it's a requirement for any leading technology vendor to offer a robust AI platform. The competition from hyperscalers and existing CCaaS vendors means NiCE will need to execute flawlessly to maintain its advantage. The competitive landscape will be shaped by how fast a company can create flexible AI platforms that deliver measurable business outcomes
Yahoo
2 days ago
- Business
- Yahoo
NiCE signs deal to acquire Cognigy
US-based technology company NiCE has signed a definitive agreement to acquire conversational AI and automation provider Cognigy. The deal acquisition places Cognigy's valuation at approximately $955m, which includes a holdback of around $50m. This holdback consists of $25m in cash and 158,000 American Depositary Shares. The transaction has been unanimously approved by NiCE's Board of Directors. It plans to finance the deal through existing funds. The acquisition is set to integrate Cognigy's advanced AI capabilities into NiCE's CXone Mpower platform. It will enable organisations to accelerate AI adoption in customer experience across the front and back office. NiCE CEO Scott Russell said: 'This is a landmark moment for NiCE, a strategic move that fast-tracks our AI innovation agenda and sets a new standard for customer experience in the AI era. 'By bringing a market leader in enterprise-grade conversational and agentic AI into the fold, we are accelerating global AI adoption, expanding into new global markets, and creating game-changing value for our customers, partners, and shareholders. Together, we are significantly advancing the future of AI-first customer experience.' Cognigy's main platform, allows enterprises to use AI agents capable of independent thinking, adaptation, and action to provide human-like services. These agents, available in over 100 languages and on various channels, offer instant personalised service. According to the company website, Cognigy counts companies such as Lufthansa Group, Toyota, Lidl International, Bosch, and DHL as its customers. Cognigy CEO and co-founder Philipp Heltewig said: 'NiCE is an exceptional organisation whose global reach, deep expertise, and relentless focus on innovation will accelerate our growth and enhance the value we bring to our customers and partners. 'Together, we are uniquely positioned to shape the future of customer experience, uniting the best of trusted AI and human interactions.' The deal is projected to close in the fourth quarter of 2025, contingent upon regulatory approvals and other closing conditions. "NiCE signs deal to acquire Cognigy" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Techday NZ
3 days ago
- Business
- Techday NZ
NiCE acquires Cognigy for USD $955 million to boost AI-powered CX
NiCE has announced it has entered into a definitive agreement to acquire Cognigy, a company that specialises in conversational and agentic artificial intelligence, in a transaction that values Cognigy at approximately USD $955 million. The move combines NiCE's CXone Mpower customer experience platform with Cognigy's capabilities in AI agents, forming an integrated enterprise-grade CX AI solution. The acquisition is intended to accelerate the adoption of AI tools for customer service across both front and back office operations globally. Expanding AI in customer experience The transaction, which has been unanimously approved by NiCE's board of directors, includes an approximate USD $50 million time-bound holdback. This holdback is made up of USD $25 million in cash and 158,000 American Depositary Shares. The deal will be financed using funds held by NiCE, and is subject to the usual closing conditions, including regulatory approvals. Completion is currently expected in the fourth quarter of 2025, dependent on clearance from the relevant authorities. Scott Russell, Chief Executive Officer at NiCE, commented on the strategic decision, stating, "This is a landmark moment for NiCE, a strategic move that fast-tracks our AI innovation agenda and sets a new standard for customer experience in the AI era. By bringing a market leader in enterprise-grade conversational and agentic AI into the fold, we are accelerating global AI adoption, expanding into new global markets, and creating game-changing value for our customers, partners, and shareholders. Together, we are significantly advancing the future of AI-first customer experience." Capabilities of Cognigy's technology, including its platform, allows enterprises to deploy artificial intelligence agents that operate independently, providing human-like service across more than 100 languages and multiple channels. These AI agents are designed to deliver immediate, personalised support, enabling human staff to dedicate time to more complex or high-value customer needs. Cognigy serves a portfolio of brands that includes Mercedes-Benz, Nestlé, and Lufthansa Group. The company's platform is projected to achieve an estimated 80 per cent annual recurring revenue growth in 2026. The addition of Cognigy's solutions is expected to enhance NiCE's ability to provide a unified platform orchestrating both AI and human agents. Philipp Heltewig, Co-founder and Chief Executive Officer at Cognigy, said, "This transaction represents a pivotal step forward for Cognigy, one that brings immense opportunity for our customers and employees. NiCE is an exceptional organisation whose global reach, deep expertise, and relentless focus on innovation will accelerate our growth and enhance the value we bring to our customers and partners. Together, we are uniquely positioned to shape the future of customer experience, uniting the best of trusted AI and human interactions." Financial and advisory details NiCE's acquisition of Cognigy will be financed from existing company funds, with the expectation that the integration of Cognigy will expand NiCE's reach and capabilities in the customer experience AI sector. The completion of the transaction is contingent upon satisfaction of customary closing conditions, including regulatory approval. NiCE has appointed Jefferies LLC as exclusive financial advisor for this acquisition, while the sellers have been advised by Qatalyst Partners. Cognigy's AI Agent platform is currently used by more than 1,000 brands worldwide, providing multilingual and personalised customer service across industries. According to the information provided, the acquisition is intended to support clients in automating and improving service delivery and augments the roles of human contact centre staff by reducing their routine workload.
Business Wire
3 days ago
- Business
- Business Wire
NiCE to Acquire Cognigy - Advancing the Leading CX AI Platform to Accelerate AI-First Customer Experience
HOBOKEN, N.J.--(BUSINESS WIRE)-- NiCE (NASDAQ: NICE), a global leader in AI-powered customer experience, today announced that it has entered into a definitive agreement to acquire Cognigy, a global market leader in conversational and agentic AI. This strategic acquisition unites NiCE's market-leading CXone Mpower platform with Cognigy's leading conversational and agentic AI capabilities, enabling organizations to rapidly accelerate the adoption of AI-first customer service delivery, orchestrating AI agents seamlessly across the front and back office in a unified CX AI platform powered by purpose-built CX AI models. 'This is a landmark moment for NiCE, a strategic move that fast-tracks our AI innovation agenda and sets a new standard for customer experience in the AI era,' said Scott Russell, CEO of NiCE. 'By bringing a market leader in enterprise-grade conversational and agentic AI into the fold, we are accelerating global AI adoption, expanding into new global markets, and creating game-changing value for our customers, partners, and shareholders. Together, we are significantly advancing the future of AI-first customer experience.' Cognigy's flagship platform, enables enterprises to deploy AI agents that think, adapt, and act independently to deliver human-like service. Available in over 100 languages and on any channel, these agents deliver instant personalized service—freeing human agents to focus on complex, high-value interactions. Cognigy serves top-tier brands including Mercedes-Benz, Nestlé, and Lufthansa Group with demonstrated success, and is expected to deliver rapid 80% estimated ARR growth in 2026. Philipp Heltewig, Co-Founder and CEO of Cognigy, added, 'This transaction represents a pivotal step forward for Cognigy, one that brings immense opportunity for our customers and employees. NiCE is an exceptional organization whose global reach, deep expertise, and relentless focus on innovation will accelerate our growth and enhance the value we bring to our customers and partners. Together, we are uniquely positioned to shape the future of customer experience, uniting the best of trusted AI and human interactions.' NiCE's Board of Directors unanimously approved the agreement to acquire Cognigy in a transaction that values Cognigy at approximately $955 million. The transaction value includes an approximate $50 million time-bound holdback which is comprised of $25 million in cash and 158,000 American Depositary Shares. The transaction will be financed with funds on-hand and closing is subject to customary closing conditions, including receipt of regulatory approvals, the timing of which is dependent on applicable regulatory authorities. The transaction is expected to close in the fourth quarter of 2025. Company Conference Call NiCE management will host a conference call today, July 28, 2025, at 8:30 AM ET, 13:30 GMT, 15:30 Israel, to discuss the acquisition of Cognigy. A live webcast and replay will be available on the Investor Relations page of the Company's website. To access, please register by clicking here: Advisors Jefferies LLC is acting as exclusive financial advisor to NiCE with respect to the contemplated acquisition. Qatalyst Partners is acting as exclusive financial advisor to the sellers with respect to the contemplated acquisition. About NiCE NiCE (NASDAQ: NICE) is transforming the world with AI that puts people first. Our purpose-built AI-powered platforms automate engagements into proactive, safe, intelligent actions, empowering individuals and organizations to innovate and act, from interaction to resolution. Trusted by organizations throughout 150+ countries worldwide, NiCE's platforms are widely adopted across industries connecting people, systems, and workflows to work smarter at scale, elevating performance across the organization, delivering proven measurable outcomes. About Cognigy Cognigy is transforming the customer service industry with its leading advanced AI Agent platform for enterprise contact centers. Its award-winning solution, Cognigy AI, empowers enterprises to deliver instant, hyper-personalized, multilingual service on any channel. By integrating Generative and Conversational AI to create Agentic AI, Cognigy delivers AI Agents that redefine customer experiences, drive satisfaction, and support contact center employees in real-time. Over 1,000 brands worldwide trust Cognigy and its vast partner network to create AI customer service agents for their contact center. Cognigy's impressive worldwide customer portfolio includes Bosch, Nestlé, DHL, Frontier Airlines, Lufthansa Group, Mercedes-Benz and Toyota. Trademark Note: NiCE and the NiCE logo are trademarks of NICE Ltd. All other marks are trademarks of their respective owners. For a full list of NICE's marks, please see: Forward-Looking Statements This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Mr. Russell, are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the 'Company'). In some cases, such forward-looking statements can be identified by terms such as 'believe,' 'expect,' 'seek,' 'may,' 'will,' 'intend,' 'should,' 'project,' 'anticipate,' 'plan,' 'estimate,' or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to significant transaction costs associated with the proposed transaction, the Company's inability to close the acquisition of Cognigy due to the failure to obtain required regulatory approvals, satisfy other conditions to the closing of the proposed transaction, or for any other reason; the failure to close the proposed transaction in the timeframe anticipated; the Company's inability to recognize the anticipated benefits of the Cognigy acquisition or effectively integrate Cognigy into the Company; the Company's incurrence of unexpected costs, liabilities or delays arising from the transaction or the integration of Cognigy into the Company; the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive acquisition agreement; the potential impact of the acquisition on relationships with the Company's or Cognigy's commercial counter-parties, including, but not limited to, its partners and distributors; the impact of changes in general economic and business conditions; competition; successful execution of the Company's growth strategy; success and growth of the Company's cloud Software-as-a-Service business; rapid changes in technology and market requirements; the implementation of AI capabilities in certain products and services, decline in demand for the Company's products; inability to timely develop and introduce new technologies, products and applications; difficulties in making additional acquisitions or difficulties or effectively integrating acquired operations; loss of market share; an inability to maintain certain marketing and distribution arrangements; the Company's dependency on third-party cloud computing platform providers, hosting facilities and service partners; cyber security attacks or other security incidents; privacy concerns; changes in currency exchange rates and interest rates, the effects of additional tax liabilities resulting from our global operations, the effect of unexpected events or on going events or geo-political conditions, including those arising from political instability or armed conflict that may disrupt our business and the global economy; our ability to recruit and retain qualified personnel; the effect of newly enacted or modified laws, regulation or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the 'SEC'). For a more detailed description of the risks and uncertainties affecting the company, refer to the Company's reports filed from time to time with the SEC, including the Company's Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law.
Globe and Mail
3 days ago
- Business
- Globe and Mail
NiCE to Acquire Cognigy - Advancing the Leading CX AI Platform to Accelerate AI-First Customer Experience
NiCE (NASDAQ: NICE), a global leader in AI-powered customer experience, today announced that it has entered into a definitive agreement to acquire Cognigy, a global market leader in conversational and agentic AI. This strategic acquisition unites NiCE's market-leading CXone Mpower platform with Cognigy's leading conversational and agentic AI capabilities, enabling organizations to rapidly accelerate the adoption of AI-first customer service delivery, orchestrating AI agents seamlessly across the front and back office in a unified CX AI platform powered by purpose-built CX AI models. 'This is a landmark moment for NiCE, a strategic move that fast-tracks our AI innovation agenda and sets a new standard for customer experience in the AI era,' said Scott Russell, CEO of NiCE. 'By bringing a market leader in enterprise-grade conversational and agentic AI into the fold, we are accelerating global AI adoption, expanding into new global markets, and creating game-changing value for our customers, partners, and shareholders. Together, we are significantly advancing the future of AI-first customer experience.' Cognigy's flagship platform, enables enterprises to deploy AI agents that think, adapt, and act independently to deliver human-like service. Available in over 100 languages and on any channel, these agents deliver instant personalized service—freeing human agents to focus on complex, high-value interactions. Cognigy serves top-tier brands including Mercedes-Benz, Nestlé, and Lufthansa Group with demonstrated success, and is expected to deliver rapid 80% estimated ARR growth in 2026. Philipp Heltewig, Co-Founder and CEO of Cognigy, added, 'This transaction represents a pivotal step forward for Cognigy, one that brings immense opportunity for our customers and employees. NiCE is an exceptional organization whose global reach, deep expertise, and relentless focus on innovation will accelerate our growth and enhance the value we bring to our customers and partners. Together, we are uniquely positioned to shape the future of customer experience, uniting the best of trusted AI and human interactions.' NiCE's Board of Directors unanimously approved the agreement to acquire Cognigy in a transaction that values Cognigy at approximately $955 million. The transaction value includes an approximate $50 million time-bound holdback which is comprised of $25 million in cash and 158,000 American Depositary Shares. The transaction will be financed with funds on-hand and closing is subject to customary closing conditions, including receipt of regulatory approvals, the timing of which is dependent on applicable regulatory authorities. The transaction is expected to close in the fourth quarter of 2025. Company Conference Call NiCE management will host a conference call today, July 28, 2025, at 8:30 AM ET, 13:30 GMT, 15:30 Israel, to discuss the acquisition of Cognigy. A live webcast and replay will be available on the Investor Relations page of the Company's website. To access, please register by clicking here: Jefferies LLC is acting as exclusive financial advisor to NiCE with respect to the contemplated acquisition. Qatalyst Partners is acting as exclusive financial advisor to the sellers with respect to the contemplated acquisition. About NiCE NiCE (NASDAQ: NICE) is transforming the world with AI that puts people first. Our purpose-built AI-powered platforms automate engagements into proactive, safe, intelligent actions, empowering individuals and organizations to innovate and act, from interaction to resolution. Trusted by organizations throughout 150+ countries worldwide, NiCE's platforms are widely adopted across industries connecting people, systems, and workflows to work smarter at scale, elevating performance across the organization, delivering proven measurable outcomes. About Cognigy Cognigy is transforming the customer service industry with its leading advanced AI Agent platform for enterprise contact centers. Its award-winning solution, Cognigy AI, empowers enterprises to deliver instant, hyper-personalized, multilingual service on any channel. By integrating Generative and Conversational AI to create Agentic AI, Cognigy delivers AI Agents that redefine customer experiences, drive satisfaction, and support contact center employees in real-time. Over 1,000 brands worldwide trust Cognigy and its vast partner network to create AI customer service agents for their contact center. Cognigy's impressive worldwide customer portfolio includes Bosch, Nestlé, DHL, Frontier Airlines, Lufthansa Group, Mercedes-Benz and Toyota. Trademark Note: NiCE and the NiCE logo are trademarks of NICE Ltd. All other marks are trademarks of their respective owners. For a full list of NICE's marks, please see: Forward-Looking Statements This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Mr. Russell, are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the 'Company'). In some cases, such forward-looking statements can be identified by terms such as 'believe,' 'expect,' 'seek,' 'may,' 'will,' 'intend,' 'should,' 'project,' 'anticipate,' 'plan,' 'estimate,' or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to significant transaction costs associated with the proposed transaction, the Company's inability to close the acquisition of Cognigy due to the failure to obtain required regulatory approvals, satisfy other conditions to the closing of the proposed transaction, or for any other reason; the failure to close the proposed transaction in the timeframe anticipated; the Company's inability to recognize the anticipated benefits of the Cognigy acquisition or effectively integrate Cognigy into the Company; the Company's incurrence of unexpected costs, liabilities or delays arising from the transaction or the integration of Cognigy into the Company; the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive acquisition agreement; the potential impact of the acquisition on relationships with the Company's or Cognigy's commercial counter-parties, including, but not limited to, its partners and distributors; the impact of changes in general economic and business conditions; competition; successful execution of the Company's growth strategy; success and growth of the Company's cloud Software-as-a-Service business; rapid changes in technology and market requirements; the implementation of AI capabilities in certain products and services, decline in demand for the Company's products; inability to timely develop and introduce new technologies, products and applications; difficulties in making additional acquisitions or difficulties or effectively integrating acquired operations; loss of market share; an inability to maintain certain marketing and distribution arrangements; the Company's dependency on third-party cloud computing platform providers, hosting facilities and service partners; cyber security attacks or other security incidents; privacy concerns; changes in currency exchange rates and interest rates, the effects of additional tax liabilities resulting from our global operations, the effect of unexpected events or on going events or geo-political conditions, including those arising from political instability or armed conflict that may disrupt our business and the global economy; our ability to recruit and retain qualified personnel; the effect of newly enacted or modified laws, regulation or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the 'SEC'). For a more detailed description of the risks and uncertainties affecting the company, refer to the Company's reports filed from time to time with the SEC, including the Company's Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law.
