quod erat demonstrandum (QED).
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Comverse Technology Announces Realignment; Creating Two Autonomous Operating Divisions: Comverse Network Systems, Inc. and Comverse Infosys, Inc.
May 12, 1999 08:18 AM
WOODBURY, N.Y.--(BUSINESS WIRE)--May 12, 1999--Comverse Technology, Inc. (CMVT) announced the realignment of its primary operating divisions under two wholly-owned United States subsidiaries, Comverse Network Systems, Inc. and Comverse Infosys, Inc. No charges will be associated with this realignment.
Comverse Network Systems, headquartered in Wakefield, Massachusetts, is the world's leading provider of enhanced services platforms to wireless and wireline telecommunications network operators. Comverse Infosys, headquartered in Woodbury, New York, is a leading provider of multiple channel, multimedia digital monitoring and recording systems for call centers and law enforcement and intelligence agencies. As part of the realignment, certain assets of Comverse's principal operating subsidiary in Israel, Efrat Future Technology Ltd., were transferred to a newly-formed subsidiary of the Comverse Infosys division and Efrat's name was changed to Comverse Network Systems Ltd.
Comverse Network Systems is led by Francis Girard, Chief Executive Officer, and Itsik Danziger, Chief Operating Officer, who has been elected to the additional office of President. Ailon Michaely serves as divisional Chief Financial Officer. Carmel Vernia, Chief Operating Officer of Comverse Technology, Inc., has assumed the additional position of Chief Executive Officer of Comverse Infosys, and Dan Bodner will serve as President of the division. Igal Nissim, formerly Chief Financial Officer of Comverse Technology, will serve as CFO at Comverse Infosys. David Kreinberg, Vice President Finance of Comverse Technology, has been elected Chief Financial Officer of the company.
Kobi Alexander, Comverse Technology's Chairman, President and Chief Executive Officer, stated, "the new alignment of our primary operating divisions is designed to provide improved organizational efficiencies and customer service, more flexible incentives for divisional management and employees and a better structure to accommodate future growth and acquisitions. The transition, under the divisional leaders, all of whom have been with Comverse for many years, has gone very smoothly and we are very pleased with the results." |
