Monday, January 09, 2006

Verint Closes Acquisition of MultiVision's Networked Video Security Business; Expands Verint's Presence in Growing Asia Pacific Region

MELVILLE, N.Y.--(BUSINESS WIRE)--Jan. 9, 2006--Verint Systems Inc. (NASDAQ: VRNT), a leading provider of analytic software-based solutions for communications interception, networked video security and business intelligence, today announced that it has completed the acquisition of the networked video security business of MultiVision Intelligent Surveillance Limited (SGX: MVIS.SI) for approximately $51.2 million in cash, subject to certain post-closing adjustments.
Based in Hong-Kong with multiple offices throughout China, MultiVision's networked video security business provides Verint with local product development, customer support and solutions that are focused on the requirements of the Asia Pacific region. The acquisition will enable Verint to further address the demand for actionable intelligence solutions in the growing Asia Pacific region.
MultiVision's proven networked video security solutions and broad range of customers enhances Verint's global position across a number of important markets, including transportation, government and banking. MultiVision's customers in these markets include the City of Beijing, Hong Kong's Chep Lap Kok International Airport, the Ministry of Railways of the People's Republic of China, Hong Kong Mass Transit Rail and the Hunan Postal Savings Bank. MultiVision also provides Verint with a presence in the growing Asia Pacific gaming market. (more)