Comverse Technology is selling 2 million shares, valued at about $70 million, of its subsidiary, Verint Systems. Credit Suisse Securities (USA) is acting as the sole bookrunner for the deal, while Barclays Capital and Morgan Stanley are the joint lead managers. The underwriters have been given the option to purchase an additional 300,000 shares to cover any over-allotments. Comverse may also pursue a sale of Verint to raise about $2 billion, adds The Wall Street Journal.

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