Verint is Expanding its Cloud Platform Capabilities to Help Brands Accelerate Digital-First Customer Engagement
August 10 2021 - 8:30AM
Business Wire
Conversocial Acquisition Will Enhance Verint Customer
Engagement Platform with Additional Social and Messaging Channels
and Further Expand its Conversational AI Capabilities
Verint® (NASDAQ: VRNT), The Customer Engagement Company™, today
announced the expansion of the digital-first capabilities of its
cloud platform through the acquisition of Conversocial. With this
expansion, Verint’s market-leading conversational AI provides
brands the ability to orchestrate customer journeys with a
connected experience across their channels of choice.
The acquisition will expand Verint’s robust support for digital
customer engagement with connections to most of the commonly used
messaging channels, including Apple Business Chat, Facebook
Messenger, Twitter, WhatsApp, and more. Conversocial helps leading
brands such as Google, Sephora, British Airways, and Hertz build
and scale relationships via the personal touch and convenience of
social messaging.
In recent years, customer conversations have shifted from public
social channels to one-to-one personalized messaging and brands are
increasingly looking for ways to turn messaging into a strategic
commerce and care channel for customer experience advantage.
According to Dan Miller, lead analyst at Opus Research, “For more
than a decade, Conversocial helped brands add social networks and
messaging platforms to their marketing and customer support
channels. Verint’s clients will now benefit from the combined
companies' demonstrated ability to offer AI-infused self-service
and assisted service to digital-first customers.”
With the Verint Cloud Platform, brands are able to accelerate
digital-first strategies:
- Deploy a wide set of conversational channels
- Use Conversational AI to automate personalized communications
on the customer’s channel of choice
- Orchestrate customer journeys across channels of choice
- Connect AI-powered knowledge management across all
channels
- Capture conversation, interaction, and experience data from all
channels and apply advanced analytics to balance operating cost and
customer experience
“Supporting Boundless Customer Engagement that goes beyond
traditional care channels, we are reimagining what it means to be
The Customer Engagement Company for a digital-first world,” says
Verint’s Celia Fleischaker, chief marketing officer. “Adding new
conversational AI and messaging channels to our digital engagement
portfolio is another step in this direction and we welcome the
Conversocial employees to Verint.”
“We help brands deliver better customer experiences over
messaging channels, while improving brand efficiency and customer
satisfaction,” says Conversocial’s Ido Bornstein-Hacohen, CEO. “We
are excited to join forces with Verint, a leader in customer
engagement to help organizations achieve their digital-first
strategies.”
Transaction Details
Verint has agreed to acquire Conversocial, which has
approximately 80 employees with offices in New York and London, for
$50 million in cash, subject to certain closing adjustments. The
acquisition is expected to close in Verint’s third fiscal quarter,
subject to customary closing conditions including the receipt of
required regulatory clearances.
About Verint
Verint® (Nasdaq: VRNT) helps the world’s most iconic brands –
including over 85 of the Fortune 100 companies – build enduring
customer relationships by connecting work, data and experiences
across the enterprise. The Verint Customer Engagement portfolio
draws on the latest advancements in AI and analytics, an open cloud
architecture, and The Science of Customer Engagement™ to help
customers close The Engagement Capacity Gap™.
Verint. The Customer Engagement Company™. Learn more at
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, uncertainties and assumptions, 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 fiscal year ended January 31, 2021, and other filings
we make with the SEC. 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, Verint assumes no obligation to
update or revise them or to provide reasons why actual results may
differ.
VERINT, THE CUSTOMER ENGAGEMENT COMPANY, BOUNDLESS CUSTOMER
ENGAGEMENT, THE ENGAGEMENT CAPACITY GAP and THE SCIENCE OF CUSTOMER
ENGAGEMENT are trademarks of Verint Systems Inc. or its
subsidiaries. Verint and other parties may also have trademark
rights in other terms used herein.
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version on businesswire.com: https://www.businesswire.com/news/home/20210810005302/en/
Media Relations Amy Curry amy.curry@verint.com
Investor Relations Matthew Frankel
matthew.frankel@verint.com
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