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.
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.
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