Verint gains mobile video solution

SSN Staff  - 
Friday, October 1, 2004

MELVILLE, N.Y. - Analytical software provider Verint Systems has bought a privately held German company that developed mobile video technology for the transportation market.

The acquisition, announced in early September, was for RP Sicherheitssyteme GmbH, or RP Security, a Flensburg, Germany company with 50 employees. Verint bought the company for $9 million cash and 90,144 shares of Verint common stock.

According to Dan Bodner, president and chief executive officer of Verint System, the acquisitions reinforces the company’s strategy of buying companies that complement Verint’s technology and broaden its portfolio of solutions.

The acquisition of RP Security is expected to extend the capabilities of Verint’s Network Video Solution. It also strengthens the company’s presence in the European market.

Verint’s analytical software-based solutions is also used for communications interception and business intelligence.