Israeli customer service automation solutions company Nice (Nasdaq: NICE; TASE:NICE) today announced that it is to acquire Cognigy, which has developed a conversational and agentic AI platform, for 955 million. This is the company's first major acquisition under CEO Scott Russell. The acquisition combines Nice's purpose built customer service AI platform with Cognigy's platform, which will enable organizations to accelerate AI adoption in customer experience across the front and back office.
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 cofounder and CEO Philipp Heltewig 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 will finance the acquisition from its own resources. At the end of the first quarter the company had $1.6 billion in cash and debt of $460 million.
Nice's share price is up 5% on the Tel Aviv Stock Exchange and in premarket trading on Nasdaq. On Friday, at close of trading on Wall Street, the company had a market cap of $10.273 billion.
Published by Globes, Israel business news - en.globes.co.il - on July 28, 2025.
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