Verint Systems Inc. (NASDAQ:VRNT) Files An 8-K Completion of Acquisition or Disposition of AssetsItem 2.01. Completion of Acquisition or Disposition of Assets.
On December 19, 2017, Verint Systems Inc. ("Verint", "we", "us" or "our") completed the acquisition of all of the outstanding equity interests in Next IT Corporation and its affiliate Next IT Innovation Labs, LLC (collectively, “Next IT”) from the holders thereof. Next IT is a developer of conversational artificial intelligence powered intelligent virtual assistants. This acquisition expands Verint's portfolio of automated, cloud based, intelligent self-service solutions. The purchase price consisted of $29.5 million of cash paid at closing, subject to certain adjustments, and potential additional future cash payments of up to $21.5 million, contingent on the achievement of certain milestones and performance targets over the period from closing through January 31, 2021. A portion of the purchase price and opportunity to receive future cash payments was used to satisfy outstanding indebtedness of Next IT. The closing purchase price was funded with cash on hand.
Item 7.01. Regulation FD Disclosure.
On December 19, 2017, in connection with the acquisition of Next IT, we issued a press release providing our revised preliminary non-GAAP outlook for the year ending January 31, 2019. A copy of the press release is attached as Exhibit99.1 hereto and is incorporated by reference into this Item 7.01 in its entirety.
The information set forth under this Item 7.01 is being furnished and shall not be deemed to be "filed" for purposes of Section18 of the Securities Exchange Act of 1934, as amended.
Item 9.01. Financial Statements and Exhibits.
(a) Financial Statements of Business Acquired.
Verint will furnish any financial statements required by Item 9.01(a) by amendment no later than 71 calendar days after the date this initial Current Report on Form 8-K is required to have been filed with the SEC to SEC rules.
(b) Pro Forma Financial Information.
Verint will furnish any financial statements required by Item 9.01(b) by amendment no later than 71 calendar days after the date this initial Current Report on Form 8-K is required to have been filed with the SEC to SEC rules.
(d) Exhibits.
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Exhibit |
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Description |
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99.1 |
Press Release of Verint Systems Inc., dated December 19, 2017 |
VERINT SYSTEMS INC ExhibitEX-99.1 2 vrnt-dec1920178xkxexh991xp.htm PRESS RELEASE Exhibit Press Release Verint Accelerates Automation Innovation and Expands Cloud Self-Service SolutionsIncreases Outlook for the Year Ending January 31,…To view the full exhibit click here
About Verint Systems Inc. (NASDAQ:VRNT)
Verint Systems Inc. offers Actionable Intelligence solutions. The Company’s Actionable Intelligence solutions address Customer Engagement Optimization, Security Intelligence, and Fraud, Risk and Compliance. It offers services, such as strategic consulting, implementation services, training, maintenance and round the clock support, as well as a range of deployment models. It has three segments: Enterprise Intelligence Solutions, which includes solutions for customer analytics, engagement management and workforce optimization; Cyber Intelligence Solutions, which provides cyber intelligence solutions, including Cyber Security, Network Intelligence, Off-Air Intelligence, Web Intelligence, Fusion Intelligence and Lawful Interception Compliance, and Video and Situation Intelligence Solutions, which offers video and situation intelligence solutions, including Situational Awareness Platform, Enterprise Video Management Software, Video Analytics, EdgeVMS and Public Safety Media Recorder.