by Angela Guess

According to a recent press release, “Verint® Systems Inc. today announced that it has acquired all of the outstanding equity interests in Next IT Corporation and its affiliate Next IT Innovation Labs, LLC (collectively, “Next IT”), a developer of conversational artificial intelligence-powered intelligent virtual assistants. The purchase price consisted of close to $30 million of cash paid at closing, plus potential additional future cash payments. ‘We continue to execute our innovation strategy, including making acquisitions that expand our self-service portfolio, accelerate Verint’s cloud and automation capabilities, and are accretive to earnings. We believe that Verint’s ongoing innovation in artificial intelligence technologies—such as machine learning, robotics and natural language processing—positions us for accelerated growth by helping organizations modernize their customer engagement operations with greater automation,’ says Dan Bodner, CEO, Verint.”

The release goes on, “Although this is a small acquisition for Verint, because we just recently provided preliminary guidance for the year ending January 31, 2019, we are updating our outlook. For the year ending January 31, 2019, we are adding $10 million of revenue and 3 cents of diluted earnings per share to our non-GAAP outlook as follows: We are increasing our outlook for revenue growth in our Customer Engagement™ segment from around 5% to around 6%. We are maintaining our outlook for revenue growth in our Cyber Intelligence™ segment of around 10%. We are increasing our outlook for total revenue from $1.215 billion to $1.225 billion with a range of +/- 2%.”

Read more at Business Wire.

Photo credit: Verint