Oct. 9, 2012
/PRNewswire/ -- Cadian Capital Management, LLC (together with its affiliates, "Cadian Capital"), today announced that it intends to vote in favor of the spin-off of Comverse, Inc. ("CNS") from Comverse Technology, Inc. (NASDAQ: CMVT) ("CTI") at the upcoming special meeting of shareholders scheduled for
, 2012. Cadian Capital believes the terms of the spin-off are fair and reasonable to and in the best interests of CTI's shareholders.
, Cadian Capital entered into an agreement with CTI regarding the composition of the Boards of Directors of CTI, its majority-owned subsidiary Verint Systems, Inc., and CNS and agreed to vote in favor of the planned spin-off of CNS to CTI's shareholders, provided the terms of the spin-off were fair and reasonable to and in the best interests of CTI's shareholders.
Cadian Capital is an equity long/short hedge fund manager with a focus on the technology sector.
Cadian Capital Management, LLC (212) 792-8800
SOURCE Cadian Capital Management, LLC