Verint® Systems Inc. (NASDAQ: VRNT) has announced it has closed the first tranche under the two tranche investment agreement with funds advised by Apax Partners signed in December in connection with Verint´s plan to separate into two independent public companies, the company said.
In connection with the closing, Jason Wright, Partner at Apax Partners, has been appointed to Verint´s Board of Directors.
The USD 200 million first tranche investment is in the form of convertible preferred stock with an initial conversion price of USD 53.50. Following the closing, Verint´s balance sheet includes more than USD 800 million of cash and short-term investments. Additional information can be found in the Form 8-K that will be filed today with the US Securities and Exchange Commission.
Verint® is a provider of Actionable Intelligence® solutions with a focus on customer engagement optimization and cyber intelligence. Learn more about how we´re creating A Smarter World with Actionable Intelligence® at www.verint.com.