OFT Clears Acquisition of Witness Systems by Verint; Transaction Expected to Close on or Before May 29, 2007
May 23 2007 - 11:22AM
Business Wire
Witness Systems, Inc. (NASDAQ:WITS), a leading global provider of
workforce optimization software and services, today announced that
the Office of Fair Trading (OFT) in the United Kingdom has approved
the acquisition of Witness Systems by Verint Systems Inc. and has
decided not to refer the transaction to the U.K. Competition
Commission. We currently expect the acquisition to close on or
before May 29, 2007. About Witness Systems Witness Systems (NASDAQ:
WITS) is the worldwide leader in software and services that help
businesses capture customer intelligence and optimize their
workforce performance. The company�s Impact 360� solution features
quality monitoring, compliance and IP recording, workforce
management, performance management, eLearning and customer
feedback. Primarily deployed in contact centers � as well as the
remote, branch and back offices of global organizations � the
workforce optimization solution captures, analyzes and enables
users to share and act on cross-functional information across the
enterprise. With Impact 360, organizations can improve interactions
and the underlying back-office processes that enhance the customer
experience and build customer loyalty. For more information, visit
us at www.witness.com. Cautionary Note Regarding Forward-looking
Statements: Information in this release that involves expectations,
plans, intentions or strategies regarding the future are
forward-looking statements that are not facts and involve a number
of risks and uncertainties. They are identified by the word
�expected� and by words such as �will,� �anticipates,� �intends,�
�plans,� �believes,� �estimates,� �targeted� and similar
expressions and statements about present trends and conditions that
may extend into the future. These statements are based upon
information available to Witness Systems as of the date of this
release, and the company assumes no obligation to update any such
forward-looking statement. Forward-looking statements believed true
when made may ultimately prove to be incorrect. These statements
are not guarantees of future performance and are subject to risks,
uncertainties and other factors, some of which are beyond our
control and may cause actual results to differ materially from our
current expectations. Some of the factors that could cause actual
future results to differ materially from current expectations
include the need to continue to satisfy the various conditions to
the parties� obligations under the merger agreement between Witness
Systems and Verint to complete the proposed merger; the completion
of the debt and equity financings planned by Verint (or other
financing arrangements sufficient to provide the funding required
by Verint to complete the Merger); as well as other risks
identified in the Witness Systems� Form 10-Q for the quarter ended
March 31, 2007 as filed with the Securities and Exchange
Commission. Witness, Impact 360, Improve Everything and the Witness
Systems logo are the trademarks (registered or otherwise) of
Witness Systems, Inc. protected by laws of the U.S. and other
countries. All other trademarks mentioned in this document are the
property of their respective owners.
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