Verint Announces Plan to Separate into Two Independent Publicly Traded Companies

Also Announces $200 Million Minority Investment by Funds Advised by Apax Partners in Support of Verint’s Separation Plan; Additional $200 Million to Be Invested Post Separation

MELVILLE, N.Y., December 4, 2019 –

Verint Announces Plan to Separate into Two Independent Publicly Traded Companies
Also Announces $200 Million Minority Investment by Funds Advised by Apax Partners in Support of Verint’s Separation Plan; Additional $200 Million to Be Invested Post Separation

New $300 Million Share Buyback Program Over Period Through Closing of Separation

MELVILLE, N.Y., December 4, 2019 – Verint^® Systems Inc. (NASDAQ: VRNT), today announced that its Board of Directors has unanimously approved proceeding with a plan to separate Verint into two independent companies: one of which will consist of its customer engagement business, and one of which will consist of its cyber intelligence business. Verint expects to complete the separation shortly after the end of Verint’s next fiscal year ending January 31, 2021.

Read the entire release here.