Verint Systems acquires its parent holding company Comverse Technology

Client(s) Verint Systems Inc.

Jones Day advised Verint Systems Inc. in its all-stock acquisition of Comverse Technology, Inc that will free Verint from Comverse's majority control. As a condition to closing, Comverse Technology, which makes voicemail and cellphone billing software, spun off its telecommunications business, Comverse, Inc. Verint acquired CTI for approximately 27.5 million Verint common shares (a number of shares equal to CTI's ownership on an as converted basis at the time of transaction closing) plus up to an additional $25 million in Verint common shares.