UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
September 16, 2010
COMVERSE TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
| NEW YORK | 0-15502 | 13-3238402 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
810 Seventh Avenue,
New York, New York
10019
(Address of Principal Executive Offices)
(Zip Code)
Registrant’s telephone number, including area code: (212) 739-1000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 8.01 | Other Events. |
On September 16, 2010, Comverse Ltd., an indirect wholly-owned subsidiary of Comverse Technology, Inc. (the “Company”), entered into an agreement for the sale of certain land in Israel to a third party for a purchase price of approximately $28.5 million. Approximately $27.1 million of such proceeds have been received, with the balance being held in escrow to cover, to the extent necessary, any applicable taxes and levies. The sale was consummated following a bid process during which the Company considered multiple offers.
The land sale was pursued as part of the initiatives undertaken by management to improve the Company’s cash position as previously disclosed in a Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission on August 12, 2010.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| COMVERSE TECHNOLOGY, INC. | ||||||
| Date: September 20, 2010 | By: | /S/ SHEFALI A. SHAH | ||||
| Name: | Shefali A. Shah | |||||
| Title: | Senior Vice President, General Counsel and Corporate Secretary | |||||
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