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  "documentTitle": "Verint Systems, Inc. (VRNT)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2019-05-23 00:00:00",
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  "notes": "Uses visual evidence (screenshots) to highlight operational silos.",
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      "text": "Businesses acquired by Verint continue to maintain separate websites once acquired. If these “Verint companies” remain largely autonomous, do Verint’s acquisitions really create material shareholder value?",
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      "text": "Separate websites\nSeparate brands\nSeparate operating silos?",
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      "text": "In light of former employee complaints regarding the disjointed nature of the Company, we wonder just how much effort management puts into integrating acquired businesses. In particular, we note that many of the businesses and services acquired by Verint continue to maintain their own websites, which look almost unchanged following their acquisition by Verint. Is management trying to build a cohesive business services company, or simply conducting M&A to acquire growth? Is the only real “synergy” in these acquisitions a new cross-selling opportunity?",
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      "kind": "title",
      "text": "Building A Cohesive Company, Or Buying Growth?",
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