{
  "docId": "019dd923-622c-750b-8b98-b531f2b0553d",
  "docSlug": "c54d9b8bb206",
  "documentTitle": "Verint Systems, Inc. (VRNT)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-05-23 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 40,
  "pageCount": 108,
  "prevPage": 39,
  "nextPage": 41,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 1,
  "notes": "Uses screenshots of website and LinkedIn as evidence of the acquisition.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "screenshot",
    "callout_box"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b98-b531f2b0553d/40",
  "deckHref": "/decks/019dd923-622c-750b-8b98-b531f2b0553d",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b98-b531f2b0553d.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b98-b531f2b0553d#slide-40",
  "components": [
    {
      "bbox": {
        "h": 0.25,
        "w": 0.68,
        "x": 0.16,
        "y": 0.33
      },
      "kind": "image",
      "text": "Verint Monet website header",
      "attrs": null,
      "subkind": "screenshot",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c16325af-be0a-497e-ab41-695852d0e4f1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.4,
        "x": 0.55,
        "y": 0.63
      },
      "kind": "image",
      "text": "Announcement post by Chuck Ciarlo",
      "attrs": null,
      "subkind": "screenshot",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f57bd530-084b-4c23-bd63-5c3443181994",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.48,
        "x": 0.05,
        "y": 0.63
      },
      "kind": "image",
      "text": "LinkedIn page for Verint Monet",
      "attrs": null,
      "subkind": "screenshot",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fe9dc5df-cd28-4403-a795-279f33c6dd2b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.9,
        "x": 0.05,
        "y": 0.16
      },
      "kind": "paragraph",
      "text": "Spruce Point has discovered yet another acquisition completed by Verint in the current quarter which was never announced by management. The founder and CEO of Monet Software, Inc. announced on Feb 20 of this year that Monet had been acquired by Verint. Indeed, per Monet's website and LinkedIn page, the business now goes by \"Verint Monet.\" Crunchbase estimates that Monet does ~$12.5M in sales per year. Why does management believe that the acquisition of ~$12.5M in inorganic sales is not sufficiently material to announce to investors? Does management plan on disclosing Verint's organic sales and organic growth ex-Monet through the coming quarters?",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7522ab90-357e-4613-b6e6-9419932ec9be",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.65,
        "x": 0.305,
        "y": 0.03
      },
      "kind": "title",
      "text": "Another Undisclosed Acquisition About To Hit The Books",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4c8fade1-c926-4cc2-bfe2-92a819445b6f",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "fraud-exposure",
      "slug": null,
      "matchId": "4dcf0bfc-8d6f-4e22-ab02-bd468aa1e0b2",
      "evidence": "Exposing undisclosed material acquisitions to question management transparency.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 40,
      "from": 21,
      "beatId": "6074cf9f-9858-4aec-9e3b-459f771973a7",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Struggle (Governance and Management Incentives)",
      "beatSlug": null,
      "evidence": "The document critiques Verint's governance and management incentives.",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}