Tuesday, November 21, 2006

Reports IBM in Talks to Buy Verint Systems (VRNT)

According to reports yesterday from Isreal's Globes, sources have informed them that IBM (NYSE: IBM) is in talks to acquire Verint Systems Inc. (Nasdaq: VRNT). According to the report, the two have been in talks for some time and a deal is expected to be worth around $1 billion, which is near its current market cap.

Verint, which provides software-based data analysis systems for the business intelligence and security markets, was spun-off from Comverse Technology Inc. (Nasdaq: CMVT) in 2002. Comverse still holds 57% of Verint's stock.

The article said the main link between Verint and IBM is in the surveillance camera sector, which IBM recently entered.

Shares of Verint are fractionally higher today after rising 3.3% on Monday.

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