Verint Completes Acquisition of Vovici Amid Strong Market Reaction to Voice of the Customer Strategy
Combination Offers Technology Tool Set for Chief Customer Officers
MELVILLE, N.Y., August 4, 2011 - Verint® Systems Inc. (NASDAQ: VRNT) today announced the completion of its acquisition of Vovici Corporation, a leading provider of online survey management and enterprise feedback solutions. The combined company features the market's most comprehensive Voice of the Customer (VoC) software and services offering designed to help forward-thinking organizations implement a single vendor solution set for collecting, analyzing and acting on customer insights.
According to a recent report from analyst firm Gartner, "An increasing number of organizations are aligning their customer feedback initiatives under a centralized environment technically and operationally. In increasing numbers, firms are creating VoC or customer experience management (CEM) teams, headed up by such roles as VP of customer experience or chief customer officer, with additional representation from across the enterprise."1
Following this business combination, organizations worldwide now have an extended software suite that breaks new ground for companies striving to capitalize on the valuable information gathered through their VoC initiatives. With this enhanced view of the customer experience, they are now well positioned to make timely, informed decisions that strengthen customer experiences and loyalty, and result in better, more efficient business operations.
"If you are able to collect streams of feedback from a wide enough audience, then put it through the blender with sophisticated analytics, you have a solution much bigger than customer service,"2 notes John Ragsdale, vice president of technology research with the Technology Services Industry Association (TSIA).
Donna Fluss, president of DMG Consulting LLC, a firm specializing in contact center and real-time analytics market research, shares, "Vovici has strong EFM capabilities. Verint has strong analytics capabilities. Put them together, and you really do have a complete voice of the customer analytics platform. It's a very good move with great potential for both companies."3
"A key asset and attraction of Vovici was its employees," concludes Dan Bodner, CEO, Verint Systems. Vovici brings to Verint deep domain expertise around Voice of the Customer and the experience needed to help companies engage customers, employees and partners to increase loyalty, facilitate innovation and influence critical business decisions.
About Verint Systems Inc.
Verint ® Systems Inc. is a global leader in Actionable Intelligence® solutions and value-added services. Our solutions enable organizations of all sizes to make timely and effective decisions to improve enterprise performance and make the world a safer place. More than 10,000 organizations in over 150 countries-including over 85 percent of the Fortune 100-use Verint solutions to capture, distill, and analyze complex and underused information sources, such as voice, video and unstructured text. Headquartered in Melville, New York, we support our customers around the globe directly and with an extensive network of selling and support partners. Verint is listed on the NASDAQ Stock Market under the symbol "VRNT." Visit us at our website www.verint.com.
1 Gartner, Verint Is Acquiring Vovici to Create a Viable VoC Hub, July 25, 2011
2 John Ragsdale, TSIA, Verint to Acquire Vovici, Creating True EFM Platform blog, July 19, 2011
3 Donna Fluss, DMG Consulting in CRM magazine's July 20, 2011 article Verint Will Acquire Vovici
This communication, and all oral statements made regarding the subject matter of this communication contain forward-looking statements. These statements are based on the current expectations, predictions, views, opportunities, plans, strategies, beliefs and statements of similar effect of Verint Systems Inc. and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including risks associated with effectively integrating, and deriving the expected benefits from, acquired companies.
All statements other than statements of historical fact are statements that could be deemed forward-looking statements. For a detailed discussion of these risk factors, see our Annual Report on Form 10-K for the year ended January 31, 2011 and our Quarterly Report on Form 10-Q for the quarter ended April 30, 2011. Verint Systems Inc. expressly disclaims any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any change of expectations with regard thereto or to reflect any change in events, conditions, or circumstances on which any such forward-looking statement is based, in whole or in part.
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