Press Release

Kirkland Represents Funds Advised by Apax Partners on Investment in Verint

Kirkland & Ellis LLP represents funds advised by Apax Partners, a global private equity advisory firm, on its agreement to invest up to $400 million in Verint® Systems Inc. (NASDAQ: VRNT), a global leader in Actionable Intelligence® solutions. The investment will be made in the form of convertible preferred stock in two tranches of $200 million each and is subject to customary closing conditions including the receipt of required regulatory clearances. Verint also announced that it plans to separate into two independent publicly traded companies: one of which will consist of its customer engagement business, and one of which will consist of its cyber intelligence business. The first tranche of the investment from the Apax Funds is targeted to close by April 30, 2020. The second tranche, which is conditioned on the separation, is expected to close shortly after the end of Verint’s next fiscal year ending January 31, 2021, and will be made into the entity holding the customer engagement business.

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The Kirkland team advising the Apax Funds was led by corporate partners Leo Greenberg and Abhishek Kolay, capital markets partners Josh Korff and Ross Leff, and tax partner Sara Zablotney.