Verint Systems Inc made its second acquisition within a week after announcing it is buying the network video security business of MultiVision Intelligent Surveillance Ltd for around $48m in cash. The move will strengthen Verint’s presence in the Asia-Pacific region.
The acquisition is being made through MultiVision’s Hong Kong-based subsidiary, MultiVision Holdings Ltd. MultiVision Intelligent Surveillance will remain a public firm after the acquisition and will continue to trade on the Singapore stock exchange. Even though this is a cash deal, Verint also holds an option to substitute shares of its common stock for up to 70% of the adjusted closing purchase price.
Last week New York-based Verint bought Opus Group LLC for $12m to extend its reach into contact centers and enterprise back-office systems.
Verint is a subsidiary of Comverse Technology Inc and develops analytic software that gleans intelligence from voice, fax, video, email, Internet and data communications networks. The company refers to this as actionable intelligence.
The company also this week reported second quarter revenue up 24% to $74.7m and net profits of $7.13m.