Verint Systems to sell cyberintelligence unit, report says
The Verint Systems building located at 330 South Service Rd. in Melville. Jan. 6, 2014 Credit: Steve Pfost
Verint Systems Inc., a maker of analytic software, plans to sell its cyberintelligence unit, according to a report published Wednesday.
The unit is estimated to be worth about $500 million, according to unidentified sources cited by Israel’s Calcalist newspaper.
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Verint Systems Inc., a maker of analytic software, plans to sell its cyberintelligence unit, according to a report published Wednesday.
The unit is estimated to be worth about $500 million, according to unidentified sources cited by Israel’s Calcalist newspaper.
In the quarter ended Oct. 31, the Melville company posted revenue of $258.9 million, with the cyberintelligence unit accounting for $86.1 million. The remainder, $172.8 million, came from its unit that tracks and analyzes communications through business call centers. The company swung to a loss of 13 cents per diluted share from a gain of 12 cents in the 2015 quarter.
Verint conducts much of its research and development in Israel, where 21 percent of its 5,000 employees and contractors are located. Forty-two percent are in the Americas, 25 percent in Europe and the Middle East and 12 percent in the Asia-Pacific region, according to a government filing for the year ended Jan. 31, 2016.
Verint’s cyberintelligence software helps “prevent, detect, neutralize and investigate crime, terror and cyber threats,” the company’s website says. Verint sells its software to government law enforcement and intelligence agencies.
The company did not respond to requests for comment.
Shares of Verint fell 2.3 percent to close Wednesday at $37.65 on the Nasdaq Stock Market. The stock is up 6.8 percent since the beginning of the year.