Comverse CEO Andre Dahan: There is no deal yet, but this is definitely a step towards the sale of the company.
Comverse Technology Inc. (Pink Sheets: CMVT) subsidiary Ulticom Inc. (Pink Sheets: ULCM) has retained Jefferies & Company Inc. as part the company's ongoing review of its strategic alternatives, including a possible sale or merger of its business.
Comverse president and CEO Andre Dahan told "Globes" today, "This is the first stage of my strategy. Businesses that are not synergetic with our business can be sold. Although we emphasized in the announcement that there is no deal yet, and that Ulticom's board might not approve any deal, but this is definitely a step towards the sale of the company."
RBC analyst Daniel Meron said, "It's hard to say that this was a surprise. While the announcement was mostly a formality, it nevertheless demonstrated another step in plans for the sale of the company."
Ulticom rose 4.6% in early trading on Wall Street today, and Comverse rose 3.9%.
Published by Globes [online], Israel business news - www.globes-online.com - on April 17, 2008
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