Voice biometrics co Persay sold for $6.7m

According to Israel Venture Capital Association, Persay raised $10.4 million in four financing rounds.

Voice biometrics company Persay Inc. has been sold. Two laconic notices to the Tel Aviv Stock Exchange (TASE) by shareholders Teuza - A Fairchild Technology Venture Ltd. (TASE:TUZA) and Shrem Fudim Technologies Ltd. (TASE:SFKT) did not disclose the name of the buyer or the size of the deal, but mentioned how much they would get for their holding in the company.

Shrem Technologies said that it would make about $2 million for its 30% holding in Persay, indicating a sale price of $6.7 million, less than the amount invested in the company. According to Israel Venture Capital Association, Persay raised $10.4 million in four financing rounds.

Shrem Fudim Group Ltd. (TASE: SFG) unit Shrem Technologies added that it could receive an additional $360,000 for Persay, and that it will report a pretax capital gain of NIS 9.7 million on the sale. Tueza said that it had invested $410,000 and would make $1.15 million on its share of the company, which it did not disclose. Persay chairman Dr. Shuky Gleitman is a director at Teuza.

Persay develops voice biometrics solutions for verifying customers by companies' customer services call centers, in order to prevent identity theft and other frauds. Persay was spun off from Comverse Technology Inc. (Pink Sheets: CMVT) subsidiary Verint Systems Inc. (Nasdaq: VRNT) in 2000. Persay's founder and CEO is Almog Aley-Raz.

Published by Globes [online], Israel business news - www.globes-online.com - on November 30, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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