Comverse sells unit for $90M
Comverse Technology Inc. has agreed to the $90 million sale of its majority-owned subsidiary Ulticom Inc.
The agreement will result in the New Jersey-based Ulticom, a telecommunications software maker, going private. It now trades on the Nasdaq.
The buyer is Platinum Equity Advisers LLC, a Los Angeles company with an office in Manhattan.
The deal leaves Manhattan-based Comverse with two major subsidiaries including Verint Systems Inc. Verint, headquartered in Melville, is a provider of voice, video and data analysis systems.
--------------------
Read more of Inside Long Island Business
Sarra Sounds Off, Ep. 15: LI's top basketball players On the latest episode of "Sarra Sounds Off," Newsday's Gregg Sarra and Matt Lindsay take a look top boys and girls basketball players on Long Island.
Sarra Sounds Off, Ep. 15: LI's top basketball players On the latest episode of "Sarra Sounds Off," Newsday's Gregg Sarra and Matt Lindsay take a look top boys and girls basketball players on Long Island.
