Beijing, January 9, 2018 — Verint Systems Inc. (NASDAQ: VRNT) announced today that it has completed Next IT Innovation Lab for Next IT and its subsidiaries (collectively “ Next ITâ€) acquisition of all circulating shares. Next IT is a conversational artificial intelligence virtual assistant development company. The purchase price includes cash payments of nearly $30 million in cash at the close and other potential additional options.
Verint CEO Dan Bodner said: "We will continue to implement innovative strategies, including acquisitions of projects that can expand our self-service solutions, accelerate cloud and automation capabilities and increase revenue. We firmly believe that Verint is in machine learning, robotics And continuous innovation in artificial intelligence technologies such as natural language processing will help companies improve automation and modernize customer interaction operations, and promote rapid growth of our business."
Latest adjustments to revenue expectations for FY 2018 (as of January 31, 2019)
For Verint, although this is a small-scale acquisition, we have further adjusted the revenue outlook expectations based on the recent preliminary forecast for FY18 (as of January 31, 2019). For FY 2018 (as of January 31, 2019), our revenue will be raised by US$10 million, and diluted earnings per share will be increased by 3 cents. The specific expected targets are as follows:
The revenue growth of the Customer InteractionTM business is expected to increase from around 5% to around 6%;
The revenue growth of the Network IntelligenceTM business is expected to remain at around 10%;
Total revenue will be raised from $1.215 billion to $1.225 billion, up and down ±2%;
Based on the midpoint of revenue expectations, diluted earnings per share is expected to increase from $3 to $3.03, up about 10% year-on-year.
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