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.

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