Comverse Technology, Inc. Acquires InTouch Systems, Inc.WOODBURY, N.Y.--(BUSINESS WIRE)--Aug. 10, 1999-- InTouch's Speech Recognition-Based Voice-Controlled Portal Enables Services Such As Voice Dialing, Personal Assistant & Voice-Controlled Web Browsing Comverse Technology Comverse Technology, Inc. (Pink Sheets: CMVT) is an American Technology company located in Woodbury, New York, which develops and markets telecommunications software. Founded in 1982, the company focuses on providing services to third party telecommunication service providers. , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CMVT CMVT Converse Technology ), the world's leading supplier of enhanced services platforms to wireless and wireline network operators, today announced the acquisition of InTouch Systems, Inc., a leading developer of carrier-class speech processing Speech processing is the study of speech signals and the processing methods of these signals. The signals are usually processed in a digital representation whereby speech processing can be seen as the intersection of digital signal processing and natural language processing. software and middleware for the telecommunications industry. InTouch, based in Cambridge, Massachusetts This article is about the city of Cambridge in Massachusetts. For the English university town, see Cambridge, England. For other places, see Cambridge (disambiguation). Cambridge, Massachusetts is a city in the Greater Boston area of Massachusetts, United States. , has developed an industry-leading natural language speech application interface based on continuous, speaker-independent, large-vocabulary speech recognition technology. Called InFlection(TM), InTouch's interface enables wireline and wireless network operators and Internet Service Providers Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. to attract new subscribers and reduce churn by offering subscribers a natural voice interface to more easily access and manage their enhanced services. Using their own voice from any telephone, subscribers are able to dial, check e-mail and voice mail messages, manage address books and calendars, and surf the Internet to retrieve news and other information. Subscribers may also have e-mail and fax messages read to them over the phone. InTouch's InFlection platform provides a voice-controlled portal to Internet and telephony networks, enabling network operators and Internet Service Providers to unify the access and management of a suite of services, including voice mail, fax messaging, e-mail and paging, personal information services See Information Systems. , personal assistant services, real-time voice-based browsing of Internet-based information, voice activated dialing, and personal number services. InFlection's modular design In the context of systems engineering, modular design — or "modularity in design" — is an approach aiming to subdivide a system into smaller parts (modules) that can be independently created and then used in different systems to drive multiple functionalities. allows for the scalability and reliability demanded by network operators, as well as the integration with the network operator's existing network-based alarming, billing, and provisioning systems. The platform's services programming interfaces (SPIs) provide a range of options which enable network operators to create a unique user interface tailored to their specific markets and to create brand identity. Kobi Alexander Jacob "Kobi" Alexander is the founder and the former CEO of New York-based Comverse Technology. Alexander founded Comverse Technology (NASDAQ: CMVT) in 1982 and built it up from a 3-person Israeli startup to employing over 5,000, becoming the leading provider of software and , Chairman, President, and Chief Executive Officer of Comverse Technology, said, "The increasing need to reduce the complexity of communications, as well as a growing focus on safety issues relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc using wireless handsets while driving, are fueling the demand for a single, easy-to-use voice-based interface to network-based services. The integration of InTouch's state-of-the-art voice technology applications and middleware with Comverse's wide portfolio of advanced messaging and information services positions Comverse to expand its leadership in enhanced services even further by providing our customers with leading-edge voice activated services." Michael A. Krasner, President of InTouch Systems, said "Comverse provides the widest, most advanced range of messaging and other enhanced services in the industry and serves over 290 network operators around the world. The combination of our voice technology with Comverse's global technology and market leadership positions Comverse to lead the industry in delivering voice activated solutions and expand its markets worldwide." InTouch will continue to operate from its existing facility. Michael Krasner will continue to head-up its operations. Comverse Technology's acquisition of InTouch was effectuated as a tax-free, stock-for-stock transaction, which will be accounted for as a pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. . Comverse issued approximately 340,000 new shares to InTouch Systems shareholders, and is assuming options to issue approximately 40,000 additional shares. One-time merger-related charges are expected not to exceed $1.5 million. About InTouch Systems, Inc. Headquartered in Cambridge, Massachusetts, InTouch focuses exclusively on voice-enabling new and existing enhanced services in the network operator market. InTouch develops and sells a suite of intelligent voice-controlled software applications that provide a voice portal An interactive voice response (IVR) front end to a data retrieval system. This does not differ in core technology from traditional IVR; rather, the difference is in the application presented. Where old-style IVR was mostly a routing application (press 1 for sales, 2 for service, etc. to telephony and Internet-based services. These applications are delivered on field-proven, carrier-grade platforms. InTouch's technology gives wireless and wireline network operators and Internet Service Providers a powerful means to attract, retain, and grow their customers. For more information, visit InTouch's web site at http://www.intouchsys.com. About Comverse Network Systems Comverse Network Systems, a division of Comverse Technology, Inc. (NASDAQ: CMVT) and the world's leading supplier of enhanced services platforms to communication network operators, is headquartered in Wakefield, MA. Comverse's enhanced services platforms enable communications network operators to offer a range of revenue-generating multimedia messaging and personal communication services (communications) Personal Communication Services - (PCS) Telecommunications services that bundle voice communications, numeric and text messaging, voice-mail and various other features into one device, service contract and bill. PCS are carried over cellular links, most often digital. to business and residential users. These services include call answering, mailbox-to-mailbox messaging, unified messaging (voice, fax and e-mail in a single mailbox), short text message service, interactive voice response, virtual phone/fax, Internet-based services such as Internet messaging and Internet Call Waiting Internet Call Waiting is a technology that allows you to accept incoming calls while connected to a 56k Internet dialup connection. While online, a software application displays users the Caller ID of the incoming call, and gives users the opportunity to screen the incoming , and next-generation Advanced Intelligent Network-based personal communications services See PCS. such as prepaid services, one-touch call return, personal number, call screening/caller introduction, mobile attendant, and speech-recognition-based services. Comverse Network Systems is the worldwide enhanced services platform market leader serving over 290 network operator customers in more than 85 countries. For additional information, visit Comverse Network Systems' web site at http://www.comversens.com. About Comverse Technology Comverse Technology, Inc. is headquartered in Woodbury, New York Woodbury is the name of some places in the U.S. state of New York:
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