Verint in Talks to Acquire Competitors WebintPro, Deep Analytics

The Nasdaq-listed business intelligence company has agreed to pay $27.5 million for the two smaller competitors, according to people familiar with the deal

Nasdaq-listed Verint Systems Inc. is cooking up a deal to acquire two Israeli cyber surveillance companies, WebintPro Ltd. and Deep Analytics Ltd., according to several people familiar with the deals who spoke to Calcalist in recent weeks on condition of anonymity.

 

Verint has agreed to pay approximately NIS 100 million ($27.5 million) for both companies, $20 million in cash and the rest depending on milestones, with WebintPro pocketing 55% of the sum. WebintPro and Deep Analytics, both headquartered in central Israeli town Herzliya, operate as one company under the former’s management. The joint company offers surveillance and data-collection technologies to banks and foreign defense, intelligence, and law enforcement agencies.

Verint CEO Dan Bodner. Photo: Orel Cohen

 

Should the deal go through, Verint will grow its catalog with an array of competing products. What’s more, it will eliminate a competitor with a growing impact. In recent months, WebintPro and Deep Analytics have, on at least two occasions, beat Verint to tenders, according to one person familiar with the matter.

 

Earlier this month, Verint announced a plan to split into two independent companies, with one focusing on cyber intelligence and the other on customer engagement. Verint said it expects to complete the separation shortly after tits next fiscal year, ending January 31, 2021. Verint rose 6.88% in after-hours trading following the announcement.

 

Verint has declined Calcalist’s request for comment.

 

Both WebintPro and Deep Analytics have also declined Calcalist’s request for comment.