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Much of its funding came from Israeli government subsidies and tax credits provided to research and development for hi-tech firms.
During andComverse Technology divested itself of all its holdings and ceased nitelligent exist. These restructuring transactions were completed on 4 February and represented the effective liquidation of the Comverse Technology holding entity. Archived from the original on 15 April In Augusta series of transactions were announced that would end Comverse Technology as a functioning entity, by making Comverse Network Ingelligent an independent company once again known simply as Comverse, allowing Verint Systems to buy back Comverse Technology’s majority stake, and selling off the other subsidiaries.
Retrieved 29 May The early years of the company were difficult; inthey founded Comverse in the United States, which became the parent company of Efrat.
InComverse Technology was involved in an options netwokr scandal.
In Decembera Fox News report raised the intelligenh that wiretapping equipment provided by Comverse Infosys to the U. The name “Comverse” is a fusion of the words “communication” and “versatility”.
Intelligsnt September after a merger this new Comverse entity changed its name to Xura and after a further series of acquisitions and mergers in February it became part of Mavenir. Alexander fled the country to Namibia where he engaged in a prolonged fight against extradition. North American Equity Research.
The stock then traded on the Pink Sheets. Archived from the original on 12 July The financial crisis of and on caused further difficulties for Comverse Technology, with new layoffs occurring in October March and August Results for fiscal year for the restructured Comverse, Inc. Under his lead, Alexander was credited with turning around Comverse’s fortunes. Networkk and Barclays said that with its accounting problems largely behind it, some restructuring done, and an improving cash balance and some revenue growth, Comverse Technology was well-positioned for ongoing operations or a possible sale.
Comverse also became a participant in forming international wireless standards, such as in for the Speech Application Language Tags SALT markup language for XML to add voice capabilities to web-based applications.
While headquartered in the US, most of the company’s research and development was done in Israel; Comverse became one of the more visible success stories in Israel’s hi-tech industry. Additionally affected by the financial crisis of and on and changes in the mobile phone market, the company underwent several rounds of large-scale layoffs and sold off parts of its business.
Further actions followed the end of Comverse Technology.
By earlyComverse Technology was planning to finally release an annual report with full financial statements and return to being fully listed on Nasdaq, but still was anticipating more layoffs. Comverse Technology had several wholly or partly owned subsidiaries. Archived from the original on 24 September The two independent companies that carried on its most well-known product lines were a newly independent Comverse and Verint Systems.
Pages using web citations with coverse URL Pages using citations with accessdate and no URL CS1 French-language sources fr All articles with dead external links Articles with dead external nitelligent from January Articles with permanently dead external links Good articles Pages using deprecated image syntax Use dmy dates from November He was released on bail and subsequently engaged in a long, and so far successful, battle to avoid extradition to the US  in Namibia neither money laundering cpmverse options backdating is a crime.
In addition to growing organically, Nettwork Technology began acquiring other companies in both Israel and the U. Retrieved 29 January The company’s origins date to orsources differwhen three Israelis, aspiring investment banker Jacob “Kobi” Alexander of Shearson Loeb Rhoadesinteligent Boaz Misholi, and Alexander brother-in-law and Columbia University computer science professor Yechiam Yemini, got together and founded an Israeli start-up company, Efrat Future Technologies Ltd.
Because of the accounting issues from the option backdating, Comverse Technology was unable to file full or timely financial reports with the SEC. The company was also quintessentially Israeli in how it was run, with Comverse CEO Ze’ev Bregman in particular favoring a loose, relaxed system in which he knew all the employees and lines of management reporting were frequently bypassed. Archived from the original on 1 January From Wikipedia, the free encyclopedia.
By the company began a turnaround.
Comverse Technology – Wikipedia
For the former subsidiary’s current ongoing company, see Mavenir. This page was last edited on 16 Septemberat Comverse became a market leader in voice messaging software and boomed during the late s with the surge in mobile phone use.
By the mids, one of its most successful products allowed legal authorities and intelligence agencies to record and store data collected from intercepted communications. Binational Industrial Research and Development Foundation. While no real evidence has been presented against Comverse or Verint, the allegations have become a favorite topic of conspiracy theorists.
Retrieved 25 February In OctoberComverse Comevrse finally published its restated financial reports for fiscal years through Dow Jones News Service. On 27 Septemberhe was arrested in Namibia after hiding in Windhoek with his family, where he had bought a house at a country club. The Wall Street Journal.