Comverse To Buy Netonomy For $19 Million, Ex-Exec Goes On The Run

Comverse Technology (best known for the Klonie avatars) has announced it will buy Netonomy for about $19 million in cash. Netonomy has a self-service application suite which “suite allows consumers, businesses and retailers to activate and manage subscriptions, buy new products and services, and review, analyze and pay bills using many communication devices”. It’s got a number of carrier partners around the globe.
The probe into alleged options manipulation at Comverse has resulted in criminal charges being laid against former Chief Executive Kobi Alexander, former Chief Financial Officer David Kreinber, and former general counsel William Sorin, who resigned back in May. The investigation into its stock option grants caused Comverse to delay its first-quarter report. “Messrs. Alexander and Kreinber surrendered to the FBI earlier this month, while Mr. Alexander is considered a fugitive.”

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