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Verint to spend nearly $65 million to acquire software company

Verint Systems said it will spend almost $65

Verint Systems said it will spend almost $65 million to acquire Foresee. Photo Credit: Steve Pfost

Verint Systems Inc. will spend almost $65 million to buy an Ann Arbor, Michigan-based developer of customer feedback software, the company said in a securities filing.

Melville-based Verint, a maker of software used by corporations to run call centers and by government agencies to track suspected terrorists and drug traffickers, will pay $58.9 million in cash plus a deferred payment of $6 million to buy ForeSee, according to the Securities and Exchange Commission filing.

The purchase would allow its customers to “better measure and understand customer experiences and prioritize the improvements that will have the greatest business impact,” Verint said Monday in a news release.

The company, one of Long Island’s 10 largest public companies based on revenue, said it expects the acquisition to close by the end of January.

“This business combination further solidifies our commitment to customer engagement market leadership, helping organizations achieve their customer experience goals at all levels—from the contact center to digital channels and across the entire enterprise,” Elan Moriah, president of customer engagement solutions for Verint, said in a statement.

Jay Sinder, chief executive of ForeSee, said his firm's customers “will greatly benefit from ... integrations into Verint’s wider customer engagement portfolio.”

Verint said it works with more than 10,000 organizations, including more than 85 percent of Fortune 100 companies.

Shares of Verint closed down 61 cents to $46.25 on the New York Stock Exchange Monday.

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