$780M Deal Will Sever Software Co. Verint From Comverse

Law360, New York (August 13, 2012, 1:54 PM EDT) -- Melville, N.Y.-based Verint Systems Inc. plans to snap up an ownership interest in Comverse Technology Inc., freeing the software maker from Comverse’s majority control in an all-stock deal worth at least $780 million, the companies said Monday.

The announcement comes after mobile and Internet billing servicer Woodbury, N.Y.-based Comverse in January told investors that it would do away with its holding company structure in favor of flexibility and trimmed-back costs. Comverse also said it would distribute to its shareholders all stock in its main telecommunications billing...
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