Fortissimo Takes Comverse's Software Co. Stake For $80M

Law360, New York (August 3, 2012, 8:05 PM EDT) -- Comverse Technology Inc. has sold its majority stake in roaming products maker Starhome BV to private equity firm Fortissimo Capital Ltd. in a cash deal valued at $80.3 million, according to Thursday regulatory filings.

Per the agreement with Israel-based Fortissimo, about $10.5 million will be held in escrow for 24 months to cover potential post-closing indemnification claims, Comverse said in an 8-K filed with the U.S. Securities and Exchange Commission. Pending regulatory approvals, the deal is expected to close by Oct. 19.

“In addition, the share...
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