Nice acquires Cognigy for $955M in push to lead agentic AI revolution
The German conversational AI company will boost Nice’s CXone platform, bringing human-like AI agents into over 100 languages and major enterprise clients.
Scott Russell, the new CEO of Nice, is beginning to take decisive steps aimed at reviving the company’s stock, which has declined by 10% over the past year.
Nice, a developer of customer experience and contact center systems, is making a major strategic acquisition of Germany-based Cognigy in a deal valued at $955 million.
The acquisition is designed to deepen Nice’s presence in the artificial intelligence space and focus on agentic AI, AI-powered virtual agents capable of carrying out tasks traditionally handled by humans. The move directly addresses a growing concern among Nice investors: that AI could disrupt or replace many of the company’s existing capabilities.
Nice will pay for Cognigy using a mix of cash and shares. The total transaction value includes a contingent holdback of $50 million, consisting of $25 million in cash and 158,000 American Depositary Shares.
Founded in 2016, Cognigy currently employs around 300 people. Its flagship platform delivers human-like AI service in over 100 languages and is already in use at companies like Mercedes-Benz, Nestlé, and the Lufthansa Group. Cognigy’s AI agents are designed to automate routine customer interactions, allowing human service representatives to focus on more complex, high-value cases. The deal is expected to close in the fourth quarter of 2025, pending regulatory approvals.
The acquisition echoes Nice’s pivotal purchase of inContact nearly a decade ago, which helped the company transition into cloud-based services, a move widely credited with transforming Nice into a market leader in CX platforms.
“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 Niice. “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.”
Nice shares were trading slightly higher in pre-market activity on Wall Street. The company is currently valued at approximately $10 billion.
Jefferies was the exclusive advisor to Nice on the transaction.
