EXHIBIT 99.1
[Verint logo]
CONTACTS
- --------
INDUSTRY INFORMATION INVESTOR RELATIONS
Jayson Schkloven Alan Roden
Merritt Group Verint Systems Inc.
(703) 390-1529 (631) 962-9304
schkloven@merrittgrp.com alan.roden@verint.com
VERINT CLOSES ACQUISITION OF MULTIVISION'S
NETWORKED VIDEO SECURITY BUSINESS
Expands Verint's Presence in Growing Asia Pacific Region
Melville, NY, January 9, 2006 - Verint Systems Inc. (NASDAQ: VRNT), a leading
provider of analytic software-based solutions for communications interception,
networked video security and business intelligence, today announced that it has
completed the acquisition of the networked video security business of
MultiVision Intelligent Surveillance Limited (SGX: MVIS.SI) for approximately
$51.2 million in cash, subject to certain post-closing adjustments.
Based in Hong-Kong with multiple offices throughout China, MultiVision's
networked video security business provides Verint with local product
development, customer support and solutions that are focused on the requirements
of the Asia Pacific region. The acquisition will enable Verint to further
address the demand for actionable intelligence solutions in the growing Asia
Pacific region.
MultiVision's proven networked video security solutions and broad range of
customers enhances Verint's global position across a number of important
markets, including transportation, government and banking. MultiVision's
customers in these markets include the City of Beijing, Hong Kong's Chep Lap Kok
International Airport, the Ministry of Railways of the People's Republic of
China, Hong Kong Mass Transit Rail and the Hunan Postal Savings Bank.
MultiVision also provides Verint with a presence in the growing Asia Pacific
gaming market.
"MultiVision provides Verint with a local research and development group and a
strong management team for the Asia Pacific region and we look forward to adding
this experienced group of managers and developers to the Verint team," said Dan
Bodner, CEO and President of Verint Systems. "The combination of Verint's and
MultiVision's networked video security portfolio will provide our joint customer
base with a broader set of solutions and a greater global presence."
Verint's Networked Video Solutions enable government and commercial
organizations to enhance the security of their facilities by networking video
across multiple locations and applying advanced content analytics to extract
actionable intelligence from live and stored video. By alerting security
personnel to potential security threats, Verint's Networked Video Solutions are
designed to help organizations prevent security breaches and improve response
time.
Verint Closes Acquisition of MultiVision's
Networked Video Security Business
January 9, 2006
Page 2
ABOUT VERINT SYSTEMS INC.
Verint(R) Systems Inc., headquartered in Melville, New York, is a leading
provider of analytic software-based solutions for communications interception,
networked video security and business intelligence. Verint software, which is
used by over 1,000 organizations in over 50 countries worldwide, generates
actionable intelligence through the collection, retention and analysis of voice,
fax, video, email, Internet and data transmissions from multiple communications
networks. Verint is a subsidiary of Comverse Technology, Inc. (NASDAQ: CMVT).
Visit us at our website www.verint.com.
Note: Certain statements concerning Verint's future revenues, earnings per
share, results or prospects are "forward-looking statements" under the Private
Securities Litigation Reform Act of 1995. There can be no assurances that
forward-looking statements will be achieved, and actual results could differ
materially from forecasts and estimates. Important risks, uncertainties and
other important factors that could cause actual results to differ materially
include, among others: integrating the business and personnel of MultiVision,
including implementation of adequate internal controls; managing our expansion
in the Asia Pacific region; risks associated with significant foreign
operations, including fluctuations in foreign currency exchange rates;
introducing quality products on a timely basis that satisfy customer
requirements and achieve market acceptance; lengthy and variable sales cycles
create difficulty in forecasting the timing of revenue; aggressive competition
in all of Verint's markets, which creates pricing pressure; risks that Verint's
intellectual property rights may not be adequate to protect its business or that
others may claim that Verint infringes upon their intellectual property rights;
risks associated with integrating the business and employees of Opus; risks
associated with integrating the assets and business acquired from ECtel Ltd. and
RP Sicherheissysteme GMBH; risks associated with Verint's ability to retain
existing personnel and recruit and retain qualified personnel in all geographies
in which Verint operates; decline in information technology spending; changes in
the demand for Verint's products; challenges in increasing gross margins; risks
associated with changes in the competitive or regulatory environment in which
Verint operates; dependence on government contracts; expected increase in
Verint's effective tax rate; perception that Verint improperly handles sensitive
or confidential information; inability to maintain relationships with value
added resellers and systems integrators; difficulty of improving Verint's
infrastructure in order to be able to continue to grow; risks associated with
Comverse Technology, Inc. controlling Verint's business and affairs; and other
risks described in filings with the Securities and Exchange Commission. All
documents are available through the SEC's Electronic Data Gathering Analysis and
Retrieval system (EDGAR) at www.sec.gov or from Verint's website at
www.verint.com. Verint makes no commitment to revise or update any
forward-looking statements.
###
Verint, the Verint word mark, Actionable Intelligence, Powering Actionable
Intelligence, STAR-GATE, RELIANT, NEXTIVA, LORONIX, SmartSight, Lanex and ULTRA
are trademarks of Verint Systems Inc. Other names may be trademarks of their
respective owners.