Comverse Technology

Comverse Technology was a United States-based technology company whose principal operations and research heritage were closely associated with Israel’s software industry. Headquartered in Woodbury, New York, the company developed telecommunications software and systems, concentrating on value-added services for communications service providers, especially mobile network operators. Its portfolio eventually covered voice-mail platforms, messaging infrastructure, converged billing, customer-management tools, mobile Internet and advertising services, roaming solutions, and systems used by authorized agencies to record and analyze intercepted communications. The company’s origins date to 1982, when Jacob “Kobi” Alexander, engineer Boaz Misholi, and computer-science professor Yechiam Yemini established an Israeli venture initially known as Efrat Future Technologies. The founders sought to build centralized hardware and software platforms that telecommunications companies could use to offer voice- and fax-messaging services. Comverse was established in the United States in 1984 as the parent company of the Israeli operation, and its name combined the ideas of communication and versatility. The business obtained important support from Israeli research-and-development grants and tax incentives, while maintaining a United States corporate base. Comverse became a public company in 1986. Its early years were difficult, but under Alexander’s leadership it won important contracts in European wireless markets and gradually shifted from specialized hardware toward software. A major 1990 contract to provide voicemail and fax systems for cellular networks in West Germany helped establish its credibility. During the 1990s, the company expanded its international customer base and developed products for voicemail, virtual telephony, lawful-interception recording, and messaging. Its AudioDisk system became a significant product for authorized wiretap recording and storage, while its voice-mail platforms benefited from the worldwide expansion of mobile telephony. The growth of SMS created another major opportunity. Comverse developed the Intelligent Short Message Service Center, or ISMSC, a platform that received, buffered, processed, and delivered text messages across mobile networks. The product gained adoption among operators seeking a cost-effective solution for lower-volume networks. Comverse also participated in industry standardization efforts, including work related to voice-enabled web applications and mobile-industry organizations. The company expanded through acquisitions and corporate restructuring. Its 1997 purchase of Boston Technology for approximately $843 million in stock strengthened Comverse’s position in the United States and made it a major supplier to large international carriers. In 1999, Comverse Technology organized important activities into Comverse Network Systems and Comverse Infosys, the latter later becoming associated with Verint Systems. Other businesses included Ulticom, which supplied signaling software, Starhome, which delivered mobile-roaming services, and Startel, a provider of contact-center systems. At the turn of the century Comverse was one of Israel’s most prominent technology success stories. Revenue reached approximately $1.2 billion in 2000, and the company became the first Israel-associated company added to the S&P 500. Its stock was widely followed in Israel, and its engineering workforce made it one of the country’s significant software employers. The telecommunications downturn and broader technology recession after 2000 weakened demand, leading to warnings, a major share-price decline, and thousands of job reductions. The company’s recovery was then overwhelmed by an options-backdating scandal disclosed in 2006. Alexander and two other senior executives faced United States criminal charges involving alleged backdating, financial misstatements, false filings, conspiracy, and money laundering. Alexander left the United States and contested extradition from Namibia. Comverse Technology was delisted from Nasdaq, removed from the S&P 500, and forced to spend years restating financial statements and addressing regulatory and legal consequences. The 2008 financial crisis and structural changes in mobile communications added further pressure. From the late 2000s through the early 2010s, Comverse Technology sold assets, reduced its workforce, and separated its principal businesses. Ulticom was sold in 2010, Starhome was sold in 2012, and by 2012–2013 the holding company had divested its remaining interests and ceased to exist as an independent corporate group. Its best-known communications-software operations continued through Comverse, Inc., which later became Xura and was ultimately absorbed into Mavenir, while other activities were transferred to companies including Amdocs. Verint developed separately from the company’s monitoring, analytics, and security-related operations. Comverse Technology, Inc. was a United States-based telecommunications software group whose principal research and development operations were located in Israel. Founded in 1982, the company initially developed centralized hardware and software systems for voice and fax messaging. It later shifted toward software platforms for mobile operators, becoming particularly influential in voicemail management, short message service centers, prepaid and customer-management systems, and other value-added telecommunications services. The name Comverse combined the ideas of communication and versatility. The company was established by Jacob “Kobi” Alexander, Boaz Misholi, and Yechiam Yemini. Its early development was supported in part by Israeli research-and-development grants and tax incentives. Comverse went public on Nasdaq in 1986, but its founders soon separated, leaving Alexander in control. During the late 1980s and early 1990s, the business won important European wireless contracts and gradually moved from hardware toward software. Its strategy emphasized smaller and overseas wireless operators at a time when large American telecommunications suppliers dominated much of the domestic market. Comverse’s growth accelerated during the expansion of mobile telephony in the 1990s. Its voice-messaging systems became a core product, while its Intelligent Short Message Service Center processed and routed SMS traffic across mobile networks. The company also developed AudioDisk, a system used by law-enforcement and intelligence organizations to record and store intercepted communications. Although this surveillance business was commercially important, the company became best known internationally for its mobile-operator software. Through acquisitions and internal expansion, Comverse Technology built a group of related businesses. Comverse Network Systems supplied telecommunications service platforms; Comverse Infosys, later associated with Verint Systems, focused on communications interception, security, surveillance, and analytics; Ulticom supplied signaling software; Starhome provided roaming services; and Startel offered integrated call-center communications systems. In 1997, Comverse acquired Boston Technology in a large stock transaction, strengthening its position in the North American voice-messaging market. By 2000, annual revenue had reached more than one billion dollars, and the company had become one of the most prominent Israeli-associated technology businesses. It was added to the S&P 500 in 1999, an event widely viewed as a landmark for Israel’s technology industry. The company’s expansion was followed by severe setbacks. The telecommunications downturn after the dot-com boom, the 2008 financial crisis, and changes in mobile-network economics reduced demand and pressured profitability. The most damaging event was a 2006 stock-options backdating scandal involving Alexander and other senior executives. The resulting criminal investigation, restatements, legal costs, management disruption, Nasdaq delisting, and removal from major indexes weakened the group for years. Alexander left the United States and fought extradition from Namibia. Comverse Technology subsequently sold or separated many of its businesses. Ulticom was sold in 2010, Starhome in 2012, and the remaining holdings were divested during 2012 and 2013. The operating businesses continued under different corporate identities: Comverse, Inc. later became Xura and was subsequently incorporated into Mavenir, while portions of the Comverse business were acquired by Amdocs in 2015. Verint continued as an independent company. Comverse Technology therefore ceased to exist as a corporate group, although several of its product lines and successor businesses survived. The company was founded in 1982 by Jacob “Kobi” Alexander, engineer Boaz Misholi, and computer-science professor Yechiam Yemini as an Israeli venture initially known as Efrat Future Technologies. The founders sought to build centralized hardware and software platforms that telecommunications companies could use to offer voice- and fax-messaging services. Comverse was established in the United States in 1984 as the parent company of the Israeli operation. Its early development was supported in part by Israeli research-and-development grants and tax incentives, while its United States corporate structure helped it access international capital markets. The company’s recovery was then overwhelmed by a stock-options backdating scandal disclosed in 2006. Alexander and two other senior executives faced United States criminal charges involving alleged backdating, financial misreporting, false filings, conspiracy, and money laundering. Alexander left the United States for Namibia and contested extradition. The company had to restate financial reports, was delisted from Nasdaq, removed from the S&P 500, and spent years dealing with the resulting legal, accounting, and reputational damage. Additional layoffs and asset sales followed, and the 2008 financial crisis and changes in the mobile market further pressured telecommunications suppliers. A restructuring and turnaround effort during the early 2010s increasingly separated the group’s businesses. Ulticom was sold in 2010, Starhome was sold to Fortissimo Capital for $54 million in 2012, and other assets were divested. By 2012 and 2013 Comverse Technology had disposed of its holdings and ceased to operate as a holding company. The communications-software operations continued as an independent Comverse business, later becoming Xura and then part of Mavenir. Parts of the former Comverse business were acquired by Amdocs in 2015, while the monitoring and analytics lineage continued through Verint. Comverse Technology therefore survives primarily as a historical corporate brand and as a predecessor to several telecommunications and enterprise-software businesses.

Comverse Technology developed from an Israeli telecommunications-technology venture founded in 1982 by Jacob “Kobi” Alexander, Boaz Misholi, and Yechiam Yemini. The original business, Efrat Future Technologies, pursued centralized systems that enabled telephone companies and other large enterprises to offer voice and fax messaging. Comverse was incorporated in the United States in 1984 as the parent company of the Israeli operation. The company relied substantially on Israeli public research support and tax incentives during its formative years, while its United States corporate structure helped it access international capital markets. Comverse listed on Nasdaq in 1986. The founders’ relationship subsequently broke down, leaving Alexander in control. The company was close to failure during part of the late 1980s, but a strategic investment from Ascom and a series of new telecommunications contracts gave it room to recover. A particularly important 1990 contract supplied voicemail and fax systems to cellular networks in West Germany. By the early 1990s Comverse was reporting meaningful sales and had learned to compete by targeting European wireless operators and other customers that were not always the primary focus of the largest United States telecommunications suppliers. The company gradually moved from hardware-centered systems to software platforms. During the mid-1990s, AudioDisk became an important product. It allowed authorized government and law-enforcement customers to record and store data obtained through intercepted communications. This business gave Comverse a presence beyond conventional carrier messaging, although it also placed the company in a sensitive regulatory and public-policy area. The expansion of mobile-phone use in the second half of the 1990s transformed Comverse’s scale. Voice-mail platforms became a core growth engine, and Comverse established a strong position in mobile voicemail management. The spread of SMS created a second major platform opportunity. Its Intelligent Short Message Service Center processed and routed messages across carrier networks, initially finding particular traction in lower-traffic systems that needed a comparatively economical SMS infrastructure. The company also expanded into converged billing, active customer management, mobile Internet, advertising, and other value-added services. It participated in mobile and telecommunications standards work, including the Speech Application Language Tags initiative and industry bodies such as the Open Mobile Alliance and TM Forum. Acquisitions accelerated this development. Comverse acquired Startel in 1992 and purchased the telecommunications-signaling business later known as Ulticom in 1996. The 1997 acquisition of Boston Technology, valued at about $843 million in stock, substantially increased Comverse’s position in the United States and made it a supplier to many of the world’s largest carriers. In 1999, the company reorganized major activities into Comverse Network Systems and Comverse Infosys. Comverse Infosys later became associated with Verint Systems, whose products focused on communications interception, surveillance, analytics, and business intelligence. Other subsidiaries and investments broadened the group’s reach into roaming, contact centers, and emerging technology companies. Comverse’s rapid expansion made it a flagship of Israel’s technology sector. Its revenue reached about $1.2 billion in 2000, and the company became the first Israel-associated constituent of the S&P 500. It was also added to the Nasdaq-100. The technology downturn beginning in 2000 exposed the company to weaker carrier spending and falling technology valuations. Comverse issued warnings, its stock price fell sharply, and more than 3,000 positions were eliminated during the difficult period. Demand later recovered with renewed wireless growth, but the business remained exposed to carrier consolidation, changing network architectures, and the shift from traditional circuit-switched systems toward IP and converged environments. In 2006, a stock-options-backdating scandal became the defining crisis in Comverse Technology’s history. United States authorities charged Alexander and two other senior executives with offenses including conspiracy, fraud, money laundering, and false corporate filings. Alexander left the United States for Namibia and fought extradition. The company faced extensive financial-reporting work, restated several years of results, lost its Nasdaq listing, and was removed from the S&P 500. The legal and accounting burden weakened the group at the same time that the 2008 financial crisis and changes in the mobile market were pressuring telecommunications suppliers. Additional layoffs and asset sales followed. A restructuring and turnaround effort during the early 2010s increasingly separated the group’s businesses. Ulticom was sold in 2010, Starhome was sold to Fortissimo Capital in 2012, and other assets were divested. By 2012 and 2013 Comverse Technology had disposed of its holdings and ceased to operate as a holding company. The communications-software operations continued as an independent Comverse business, later becoming Xura and then part of Mavenir. Parts of the former Comverse business also went to Amdocs, while the monitoring and analytics lineage continued through Verint. Comverse Technology therefore survives primarily as a historical corporate brand and as a predecessor to several telecommunications and enterprise-software businesses. Comverse Technology originated in Israel in 1982, when Jacob “Kobi” Alexander, Boaz Misholi, and Yechiam Yemini formed a company intended to develop centralized systems for voice and fax messaging. The founders sought to use Israel’s emerging technology capabilities and public research incentives to finance development. A United States parent company, Comverse, was established in 1984, with the Israeli operation serving as a major engineering base. The brand name was formed from “communication” and “versatility.” Comverse went public on Nasdaq in 1986. The founders’ relationship deteriorated, and by 1987 Alexander had become the company’s controlling leader. The business was initially financially fragile, but it won important contracts in Europe, including a major early deployment for cellular networks in West Germany. By the early 1990s, it was selling combined voice-and-fax mailbox systems and increasingly emphasizing software rather than specialized hardware. Its international focus helped it avoid direct dependence on the largest American carriers and created a customer base among wireless operators in Europe and other developing markets. During the mid-1990s, Comverse developed two particularly important areas. AudioDisk allowed authorities and intelligence agencies to record and retain information obtained through communications interception. At the same time, the company expanded its carrier software, especially voice messaging. The rapid adoption of mobile phones then created a powerful growth opportunity. Comverse’s Intelligent Short Message Service Center processed, buffered, and delivered SMS messages across mobile networks, including voicemail notifications and broader text-messaging traffic. The product was attractive to lower-traffic operators seeking a comparatively economical platform, and Comverse became a major supplier in the worldwide mobile voicemail and messaging markets. Acquisitions were central to the group’s expansion. Comverse acquired Startel in 1992 and the business later became associated with call-center communications. It acquired DGM&S Telecom in 1996 and renamed the operation Ulticom, building a signaling-software business. In 1997 it acquired Boston Technology, giving it a stronger presence with large North American telecommunications customers. During 1999, the group organized important activities into Comverse Network Systems and Comverse Infosys. Comverse Network Systems focused on carrier value-added services, while Comverse Infosys concentrated on interception, surveillance, and related information analysis; the latter became associated with Verint Systems. By 2000, Comverse Technology had become a global technology group with revenue above one billion dollars. It was a prominent Israeli employer and technology success story, and its listing in the S&P 500 and Nasdaq-100 reinforced its international profile. The company also participated in industry-standard initiatives, including work related to voice-enabled web applications and mobile-network standards. Its expansion was not uninterrupted: the early-2000s telecommunications downturn caused profit warnings, a sharp decline in the share price, and thousands of job cuts. The decisive crisis came in 2006, when United States authorities investigated alleged stock-options backdating. Alexander and two other senior executives were charged with conspiracy, fraud, money laundering, and false filings. Alexander left the United States for Namibia and contested extradition. The investigation forced Comverse Technology to restate multiple years of financial results and imposed substantial legal and administrative costs. The company was delisted from Nasdaq and removed from the S&P 500. The scandal also damaged employee confidence, investor trust, and the group’s ability to pursue its previous acquisition-led strategy. The business faced additional pressure from the global financial crisis, carrier consolidation, and changes in mobile technology. It conducted repeated restructuring programs and sold non-core assets. Ulticom was sold in 2010, while Starhome was sold to Fortissimo Capital in 2012. During 2012 and 2013, Comverse Technology divested its remaining holdings and stopped existing as a corporate group. Its best-known activities continued through successor companies: Comverse, Inc. became Xura in 2015 and later formed part of Mavenir; Amdocs acquired portions of the Comverse business in 2015; and Verint continued as an independent provider of communications intelligence, security, and analytics. The parent company is therefore defunct, although its technologies and organizational descendants remain present in telecommunications and enterprise software. Comverse Technology originated in Israel in 1982, when Jacob “Kobi” Alexander, engineer Boaz Misholi, and computer-science professor Yechiam Yemini formed a venture initially known as Efrat Future Technologies. The founders sought to build centralized hardware and software platforms that telephone companies and other large enterprises could use to offer voice- and fax-messaging services, drawing on Israel’s emerging technology capabilities and public research incentives. A United States parent company, Comverse, was established in 1984 as the parent of the Israeli operation, and the brand name was formed from “communication” and “versatility.” The company relied substantially on Israeli public research support and tax incentives during its formative years, while its United States corporate structure helped it access international capital markets.

• 2013

  End of Comverse Technology

  [1]Comverse Technologyen.wikipedia.org

  The holding company completed its divestitures and ceased to exist as an independent group.

• 2013

  Corporate group ceases to exist

  [1]Comverse Technologyen.wikipedia.org

  Comverse Technology completed the disposal of its holdings and ceased operating as a corporate group.

• 2012

  Starhome divestiture

  [1]Comverse Technologyen.wikipedia.org

  The mobile-roaming business was sold to Fortissimo Capital.

• 2010

  Ulticom divestiture

  [1]Comverse Technologyen.wikipedia.org

  Comverse Technology sold its telecommunications-signaling subsidiary.

• 2006

  Options-backdating crisis

  [1]Comverse Technologyen.wikipedia.org

  Criminal charges against senior executives triggered financial restatements, delisting, and a prolonged corporate crisis. The company became embroiled in a major investigation involving alleged backdating of stock options and false financial filings.

• 2000

  Revenue surpasses one billion dollars

  [1]Comverse Technologyen.wikipedia.org

  The company reported revenue of approximately $1.2 billion amid rapid wireless-sector expansion.

• 1999

  Creation of major operating subsidiaries

  [1]Comverse Technologyen.wikipedia.org

  Comverse organized key telecommunications and monitoring activities under Comverse Network Systems and Comverse Infosys.

• 1999

  S&P 500 inclusion

  [1]Comverse Technologyen.wikipedia.org

  Comverse became the first Israel-associated company to enter the S&P 500 index.

• 1997

  Boston Technology acquisition

  [1]Comverse Technologyen.wikipedia.org

  The stock-based acquisition, valued at approximately $843 million, expanded Comverse’s voice-messaging business and United States carrier presence.

• 1996

  Acquisition of the business later known as Ulticom

  [1]Comverse Technologyen.wikipedia.org

  Comverse acquired a signaling-technology business that it later renamed Ulticom.

• 1996

  Acquisition of DGM&S Telecom

  [1]Comverse Technologyen.wikipedia.org

  The acquired signaling business was later renamed Ulticom.

• 1990

  Breakthrough cellular-network contract

  [1]Comverse Technologyen.wikipedia.org

  Comverse won a major contract to supply voicemail and fax systems for West German cellular networks.

• 1986

  Nasdaq listing

  [1]Comverse Technologyen.wikipedia.org

  Comverse became publicly traded on Nasdaq. Comverse went public on the Nasdaq Stock Market.

• 1984

  Comverse is established in the United States

  [1]Comverse Technologyen.wikipedia.org

  The United States Comverse entity was formed as the parent company of the Israeli operation.

• 1982

  Founding of the original venture

  [1]Comverse Technologyen.wikipedia.org

  Alexander, Misholi, and Yemini established the Israeli venture, initially known as Efrat Future Technologies, that became the foundation of Comverse Technology, focusing on centralized voice- and fax-messaging systems.

• 1982

  Company founded

  [1]Comverse Technologyen.wikipedia.org

  The founders established the business that became Comverse Technology, initially focusing on centralized voice- and fax-messaging systems.

Telecommunications business-support, operations-support, messaging, and value-added-services software provider A provider of carrier-grade telecommunications software and network value-added services, positioned between telecommunications infrastructure vendors and mobile operators seeking messaging, voice, customer-management, security, and analytics capabilities.

• Telecommunications value-added services

  Comverse voice messaging

  Carrier-grade voice-mail and messaging platforms that allowed mobile and fixed-line operators to provide subscriber mailboxes, notifications, message retrieval, and related communication services. Voice messaging became the company’s most important commercial area during the expansion of mobile telephony in the late 1990s and helped establish Comverse as a major supplier to international network operators.

• Mobile messaging infrastructure

  Intelligent Short Message Service Center (ISMSC)

  A short message service center designed to receive, buffer, process, and distribute SMS traffic throughout a mobile network. It expanded beyond the earlier use of SMS as a voicemail notification channel and was positioned as a cost-effective option for operators with lower message volumes. The product ran on Unix-based platforms and later Linux environments. The ISMSC processed, buffered, routed, and delivered SMS traffic within mobile networks. It initially supported voicemail notifications and developed into a broader messaging-center product. Comverse positioned it as a practical solution for operators, including lower-volume networks seeking a less expensive alternative to larger messaging platforms.

• Lawful-interception recording

  AudioDisk

  A system for authorized authorities and intelligence organizations to record and store information collected through communications interception. AudioDisk was a major source of Comverse revenue during the mid-1990s and formed part of the business lineage later associated with Verint’s monitoring and analytics operations. AudioDisk recorded and stored data collected through lawful communications interception. It was marketed primarily to legal authorities and intelligence agencies and became one of Comverse’s most commercially significant products during the mid-1990s. The business later formed part of the technology lineage associated with Verint.

• Telecommunications BSS/OSS

  Comverse billing and customer-management platforms

  Software for converged billing, active customer management, and related carrier business-support functions. These offerings were designed for communications providers operating across circuit-switched, IP, IMS, and converged network environments, with deployment options including in-network, hosted, and managed-service models.

• Mobile roaming software

  Starhome roaming services

  A portfolio of international-roaming services and core-network solutions for mobile operators. Starhome supported roaming across multiple network generations and technology environments before being sold by Comverse Technology to Fortissimo Capital in 2012. Starhome provided international-roaming services and core-network solutions for mobile operators. Its portfolio addressed roaming across intelligent-network and newer network environments. The business was fully owned by Comverse Technology before its sale to Fortissimo Capital in 2012.

• Telecommunications signaling software · 1996

  Ulticom signaling solutions

  Software and systems supporting signaling requirements in wireless, wireline, and Internet communications. The products were used in mobility, location, payment, switching, and messaging applications. Comverse acquired the business in 1996 and sold it in 2010. Ulticom supplied signaling platforms used by wireless, wireline, and Internet communications providers. Its technologies supported mobility, location, payment, switching, and messaging services. Comverse Technology acquired the business in 1996 and sold it in 2010.

• Telecommunications software

  Voice messaging systems

  Comverse’s voice-mail platforms were its best-known carrier products. They enabled mobile and fixed-line operators to provide subscriber mailboxes, message storage, notifications, and related unified-messaging services. The systems became especially important as mobile-phone adoption expanded in the 1990s and operators needed scalable platforms for rapidly growing subscriber bases.

• 2006

  Stock-options backdating scandal

  Comverse Technology became embroiled in a United States investigation into the alleged backdating of employee stock options and related financial-reporting practices. Co-founder and chief executive Jacob Alexander and two other senior executives were charged with conspiracy, fraud, money laundering, and false filings. Alexander left the United States for Namibia and contested extradition. The company had to restate financial reports, was delisted from Nasdaq, removed from the S&P 500, and spent years dealing with the resulting legal, accounting, and reputational damage. Comverse Technology became the subject of a United States criminal investigation into the alleged backdating of employee stock options. Co-founder and former chief executive Jacob Alexander and two other senior executives were charged with conspiracy, fraud, money laundering, and false filings. Alexander fled to Namibia and contested extradition. The investigation led to prolonged financial restatements, legal expenses, management disruption, Nasdaq delisting, and removal from the S&P 500.

  Source

Read more

• 2013

  Complete breakup of the holding companyStrategy

  Background

  Comverse Technology had divested its principal holdings and no longer operated as an integrated corporate group.

  Action taken

  The company completed its disposals and ceased to exist, leaving successor businesses to carry forward its major product lines.

  Aftermath

  Comverse’s communications operations later became Xura and then part of Mavenir; other activities moved to companies including Amdocs, while the monitoring lineage continued through Verint.

  Source

• 2013

  Complete corporate divestituresStrategy

  Background

  After years of restructuring and asset sales, the parent no longer operated as an integrated technology group.

  Action taken

  Comverse Technology divested its remaining holdings and ceased to exist.

  Aftermath

  Its principal businesses continued through Comverse, Inc., Verint Systems, and later successor companies including Xura, Mavenir, and Amdocs-related operations.

  Source

• 2012

  Sell StarhomeM&A

  Background

  The company continued dismantling its portfolio after years of financial and market pressure. Comverse Technology continued to dispose of non-core or separately viable assets.

  Action taken

  Starhome was sold to Fortissimo Capital for $54 million.

  Aftermath

  The sale removed another major subsidiary and contributed to the eventual end of Comverse Technology as a holding company. The sale formed part of the final dismantling of Comverse Technology’s holding structure.

  Sale proceeds. $54 million (2012)

  Source

• 2010

  Sell UlticomM&A

  Background

  Comverse Technology was narrowing its portfolio and raising focus and liquidity through asset divestitures. The group was divesting businesses as it responded to financial pressure and changing telecommunications markets.

  Action taken

  Comverse Technology sold its signaling-software subsidiary Ulticom.

  Aftermath

  Ulticom continued outside the Comverse Technology group, while the parent company proceeded with further divestitures. The disposal reduced the scope of the parent group and preceded further sales of subsidiaries.

  Source

• 2006

  Financial-restatement and restructuring responseStrategy

  Background

  The options-backdating investigation and resulting reporting problems placed the company under legal, regulatory, and financial pressure.

  Action taken

  Comverse Technology undertook extensive financial restatements and reorganized its operations while reducing costs and later selling noncore assets.

  Aftermath

  The company lost its Nasdaq listing and S&P 500 membership, suffered reputational damage, and entered a prolonged restructuring period.

  Source

• 2006

  Financial restatement and restructuring after the options investigationStrategy

  Background

  The stock-options investigation made previously reported results unreliable and created extensive legal and reporting obligations.

  Action taken

  The company undertook multiyear financial restatements and restructuring while facing management, listing, and investor-confidence problems.

  Aftermath

  Comverse Technology was delisted from Nasdaq, removed from the S&P 500, reduced its workforce, and later pursued asset sales and a narrower operating model.

  Source

• 1999

  Separate telecommunications and monitoring businessesStrategy

  Background

  The company had developed distinct product families for carrier services and communications monitoring. The group had developed distinct businesses serving telecommunications operators and government or enterprise users of communications intelligence.

  Action taken

  Comverse Technology formed Comverse Network Systems and Comverse Infosys as major operating subsidiaries.

  Aftermath

  The telecommunications business and the monitoring, recording, and analytics business developed along increasingly separate corporate paths; Comverse Infosys later became associated with Verint Systems. The structure clarified the separation between carrier value-added services and interception, surveillance, and analytics products; Comverse Infosys later became associated with Verint.

  Source

• 1997

  Acquire Boston TechnologyM&A

  Background

  Comverse sought a stronger position in the large United States telecommunications market and a broader base of carrier customers. Comverse sought greater access to large North American telecommunications carriers and additional scale in voice messaging.

  Action taken

  The company acquired Boston Technology in a stock transaction and integrated its voice-messaging capabilities.

  Aftermath

  The transaction strengthened Comverse’s position among major international carriers and made it one of the largest suppliers of voice-messaging systems.

  Transaction value. Approximately $843 million (1997)

  Source

• 2013

  Comverse Technology ceases to exist as a holding company[1]Comverse Technologyen.wikipedia.org

  M&A · Other

  After divesting its remaining interests, the parent company ended as an independent corporate group and its operating businesses continued under successor companies.

• 2013

  Comverse Technology completes the disposal of its holdings[1]Comverse Technologyen.wikipedia.org

  Bankruptcy · M&A

  The remaining group structure was dismantled and Comverse Technology ceased to operate as an independent corporate group.

• 2012

  Starhome is sold to Fortissimo Capital[1]Comverse Technologyen.wikipedia.org

  M&A

  The mobile-roaming business was sold for $54 million, contributing to the breakup of the former Comverse Technology group.

• 2010

  Ulticom is sold[1]Comverse Technologyen.wikipedia.org

  M&A

  Comverse Technology divested its signaling-software subsidiary as part of a broader asset-sale and restructuring program.

• 1999

  Comverse Technology becomes an S&P 500 constituent[1]Comverse Technologyen.wikipedia.org

  Other

  The company joined the S&P 500, marking an important milestone for an Israel-associated technology company.

• 1997

  Comverse acquires Boston Technology[1]Comverse Technologyen.wikipedia.org

  M&A

  The stock-funded acquisition expanded Comverse’s access to the United States telecommunications market and strengthened its voice-messaging business.

• 1990

  Comverse wins major West German cellular-network contract[1]Comverse Technologyen.wikipedia.org

  Product launch

  A large voicemail and fax-system contract for West German cellular networks became an important early commercial breakthrough.

• 1986

  Comverse Technology goes public on Nasdaq[1]Comverse Technologyen.wikipedia.org

  Other

  The company completed its public offering on the Nasdaq Stock Market, providing capital for expansion after its early development period.

1. 1Comverse Technologyen.wikipedia.org