Can I buy a Witness?

Verint Systems Inc. and Witness Systems, Inc. yesterday announced a “definitive agreement” via which Verint will acquire Witness for $27.50 per share in cash.

The combined Verint/Witness portfolio includes solutions for quality monitoring; IP recording; multimedia interaction capture; speech and data analytics; performance management; contact center and enterprise workforce management; eLearning and eCoaching; customer feedback management; and strategic professional and consulting services.

The total enterprise value of the transaction is approximately $950 million. Verint expects to fund the transaction through a $650 million debt financing commitment provided by Lehman Brothers Inc., Deutsche Bank and Credit Suisse, a $293 million preferred stock investment by Comverse Technology, Inc., the 57 percent shareholder of Verint, and the remainder from existing cash of the combined company.

The conference call in which Verint heads discuss the transaction and new strategies for Witness’ goods is available by replay at the Verint homepage until February 28.