Mergers and Acquisitions Recap: Verint PURCHASES Comverse, Google BUYS Frommer’s
Here are Monday’s top stories:
Verint Systems Inc. (NASDAQ:VRNT) purchases Comverse Technology Inc. (NASDAQ:CMVT) through a stock swap subsequent to the completion of the latter’s previously announced distribution of its telecom division along with other assets. The transaction would cancel out CMVT’s majority ownership in and control of VRNT.
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Shares of FSI International, Inc. (NASDAQ:FSII) gain more than half their value Monday on the news that the leading Japanese chip equipment producer Tokyo Electron Ltd (TOELF.PK) will acquire the former for $6.20 per share, or $252.5 million in cash. This price represents a 53 percent bonus to Friday’s close. The purchase is expected to strengthen Tokyo Electron’s wafer surface preparation offerings.
Google Inc. (NASDAQ:GOOG) acquires the travel guide publisher Frommer’s from John Wiley & Sons at an unreported amount, but the buyer is said to not have decided whether to continue publishing Frommer’s titles in print. Google wants to become a major in online travel content and services, and its purchases of ITA Software and Zagat, along with the present purchase, underscores the goal.
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