Verint Announces Open Innovation Network Enabling Access to Patented Technologies
August 10 2011 - 8:30AM
Business Wire
Verint® Systems Inc. (NASDAQ: VRNT) today
announced the Verint Open Innovation Network™, a program that
leverages Verint’s market-leading Action Intelligence® solutions to
create value and increase industry collaboration. Through its Open
Innovation Network, Verint provides access to its intellectual
property portfolio, enabling organizations that market competitive
or complementary solutions to utilize Verint’s patented
technologies in their own offerings. “Behind our success is a long
history of innovation that benefits our customers and partners,”
says Dan Bodner, Verint CEO. “As a market leader, we are committed
to ongoing innovation and to enhancing industry collaboration.”
In July 2011, TelStrat International, Ltd., a provider of
contact center and business call recording solutions, signed a
patent license agreement with Verint, becoming a licensee and a
participant in the Verint Open Innovation Network.
According to Bob Carroll, TelStrat founder and CEO, “This
mutually beneficial agreement enables us to provide our customers
with industry-leading functionality and enhanced business value. By
leveraging Verint’s advanced technology patent portfolio, the
Verint Open Innovation Network gives TelStrat a unique opportunity
to continually strengthen the call recording component of our
contact center solution suite.”
Implemented by more than 85 percent of Fortune 100 companies,
Verint technology comprises proven, advanced Actionable
Intelligence solutions that are deployed across industries and
around the world by customers in their contact center, branch
banking, retail store, back office, public safety, critical
infrastructure, service provider and government operations
environments. Underlying these market leading solutions are more
than 500 Verint patents and patent applications worldwide.
Representing ongoing investment, innovation and leadership
across Verint’s enterprise workforce optimization (WFO), video
intelligence, and communications intelligence and investigative
solutions, the growing Verint patent portfolio continues to
reinforce the company’s strength in identifying market needs and
future solutions; developing technology that helps solve real
business challenges; protecting company, customer and partner
investments; and providing distinct competitive advantage in
today’s complex environments.
The Verint Open Innovation Network is an important component of
Verint’s long-term strategy for protecting its intellectual
property rights, providing a mechanism to both safeguard Verint
innovations and facilitate intellectual property sharing in order
to promote invention and technology advancement industry wide.
“Our Open Innovation Network delivers greater value to Verint
stakeholders by further protecting their investments in Verint
technology,” remarks Peter Fante, Verint Chief Legal and Compliance
Officer. “Additionally, by allowing other companies use of the
innovations that we introduced over nearly two decades, the program
can provide significant benefits for those companies and their
customers.”
Growth of Verint’s Open Innovation Network is expected to expand
competitive licensing of Verint’s protected technologies and patent
rights, reduce the incidence and costs of patent infringement, and
encourage collaboration and innovation on an industry scale.
Additional information about the Verint Open Innovation Network can
be found on the Verint website at www.verint.com/OIN.
About Verint Systems Inc.
Verint® Systems Inc. is a global leader in Actionable
Intelligence® solutions and value-added services. Our solutions
enable organizations of all sizes to make timely and effective
decisions to improve enterprise performance and make the world a
safer place. More than 10,000 organizations in over 150
countries—including over 85 percent of the Fortune 100—use Verint
solutions to capture, distill, and analyze complex and underused
information sources, such as voice, video and unstructured text.
Headquartered in Melville, New York, we support our customers
around the globe directly and with an extensive network of selling
and support partners. Verint is listed on the NASDAQ Stock Market
under the symbol “VRNT.” Visit us at our website
www.verint.com.
This press release contains forward-looking statements,
including statements regarding expectations, predictions, views,
opportunities, plans, strategies, beliefs, and statements of
similar effect relating to Verint Systems Inc. These
forward-looking statements are not guarantees of future performance
and they are based on management's expectations that involve a
number of risks and uncertainties, any of which could cause actual
results to differ materially from those expressed in or implied by
the forward-looking statements. For a detailed discussion of these
risk factors, see our Annual Report on Form 10-K for the year ended
January 31, 2011 and our Quarterly Report on Form 10-Q for the
quarter ended April 30, 2011. The forward-looking statements
contained in this press release are made as of the date of this
press release and, except as required by law, the Company assumes
no obligation to update or revise them or to provide reasons why
actual results may differ.
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INTELLIGENCE FOR A SMARTER WORKFORCE, VERINT VERIFIED, WITNESS
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trademarks of Verint Systems Inc. or its subsidiaries. Other
trademarks mentioned are the property of their respective
owners.
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