Verint completes spin-off of Cognyte Software
Verint Systems has completed the spin-off of Cognyte Software Ltd., marking the start of its journey as a pure-play customer engagement vendor with an exclusive focus and extensive resources—including more than 4,500 professionals worldwide—dedicated to helping organizations provide customer engagement.
Cognyte offers security analytics software that provides governments and enterprises with actionable intelligence.
“Verint becoming a pure-play customer engagement company is happening at the exact right time—a time when digital transformation is driving significant change in how brands engage with their customers," said Dan Bodner, CEO of Verint. "With our open cloud platform, significant domain expertise and broad partner ecosystem, we are well positioned to help brands build enduring customer relationships,” said Verint CEO, Dan Bodner.
Cognyte will begin “regular way” trading on NASDAQ February 2, 2021 under the symbol “CGNT." In connection with the separation, Verint shareholders will receive one share of Cognyte common stock for each share of Verint common stock.
According to Verint, brands today are challenged by new workforce dynamics, ever-expanding customer engagement channels and exponentially more consumer interactions—all with limited budget and resources. As a result, companies are finding it more difficult than ever to deliver the desired customer experience. This creates an engagement capacity gap, which continues to widen as digital disruption increases. Verint says it is positioned to help companies close this gap. The Verint Customer Engagement Cloud Platform—built on a native cloud architecture with an open design—enables brands to connect work, experiences, and data across the organization.
For more information, go to www.cognyte.com and www.verint.com.
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