Verint is the new name of Comverse Infosys, announced February 1. The spin-off, the subject of speculation for two years, will in filing a prospectus for a Nasdaq IPO in the next few days.
The offering is due to take place in the coming two months. The prospectus is unlikely to include the amount of capital Verint is planning to raise or the valuation. However, estimates place the sum at $30 million and the valuation at $150 million to $200 million.
Comverse said that Verint President and CEO Dan Bodner speaks on Comverse's behalf on the IPO, but Bodner declined to comment.
Verint makes voice, video and data digital recordings, and makes content management applications for the security market. It also provides management tools for contact centers.
The motive for the offering is not necessarily to maximize shareholder value, as Verint is due to go public at a company valuation not higher than $200 million. This is not a significant contribution to Comverse, which has a market cap of $3.7 billion.
It is estimated that Verint's bottom line is not strong, so the likely motivation for the IPO is Verint's exclusion from the parent company's profit and loss reports.
Comverse has never released data on Verint's earnings, only on revenue. It is estimated that Verint was still losing in 2001, while Comverse's core activity, formerly Comverse Network Systems, is profitable.