CMVT Comverse Technology, Inc. (MM)

Comverse, a subsidiary of Comverse Technology, Inc. (NASDAQ: CMVT) and the world's leading supplier of software and systems enabling network-based multimedia enhanced communication and billing services, today announced that Amp�d Mobile, the pioneer of fully integrated mobile entertainment, has launched AOL�s mobile AIM service utilizing Comverse�s mobile instant messaging (IM) solution. The solution enables Amp�d Mobile to offer its subscribers a seamless interface to instant messaging on their mobile phones and access to their branded, full color AIM Buddy List feature from virtually anywhere. The solution is being provided on Comverse�s hosted mobile IM environment. Comverse�s mobile IM solution brings instant messaging to the mobile environment, closely replicating the look, feel, and functionality of the popular desktop AIM� service with real-time two-way and multi-party chat-like communication based on the AIM� Buddy List� feature. The solution enables operators to use the presence-enhanced contact list as a launching pad for additional multimedia features and services. Comverse�s mobile IM product can be implemented as a hosted solution or in-network as part of the Comverse InSight� Open Services Environment. �Our subscribers grew up using instant messaging, so offering them this key functionality broadens their mobile experience with a familiar interface they are accustomed to,� said Mike McSherry, Senior Vice President of Emerging Technologies, Amp�d Mobile. �By bringing the AIM service to Amp�d Mobile, we are meeting the needs of our subscribers� fast-paced lifestyle and providing personalized communications that build customer loyalty. We are also pleased to announce a promotion that Amp�d Mobile subscribers will get free mobile AIM services from November 15 through January 31.� �It is great to work with Amp�d Mobile and Comverse to deliver the�benefits of the AIM�service to Amp�d Mobile devices,� said John McQueen, Vice President, AOL Mobile. �Through the power of the mobile Buddy List, Amp�d Mobile users�have a convenient way to�stay connected to family and friends while they are on the go.� �According to industry analysts, instant messaging is one of the fastest growing applications in the mobile arena today,� said Ramesh Barasia, President, Comverse Americas. �Comverse is well positioned to help MVNOs like Amp�d Mobile succeed in the competitive mobile market by introducing popular desktop applications to the mobile environment.� About Amp�d Mobile Amp'd Mobile is the first integrated mobile entertainment company for youth, young professionals and early adopters, and the only 3G carrier in the U.S. specifically targeting youth and young professionals. By leveraging the power of broadband wireless (EVDO), Amp'd offers traditional services such as voice and text within a completely fresh user interface designed specifically for the "mobile graduate" and third-generation (3G) technology. With a myriad of customizable options to meet each person's individual needs, as well as strategic alliances with top entertainment properties MTVN and Universal Music Group, Amp'd brings a more relevant, personal experience to the wireless lifestyle with unique music, video, community, entertainment, sports and gaming offerings divided into various channels for quick and easy access. Offered nationwide, more information can be found at http://www.ampd.com. About the AIM� Service The AIM� service (http://www.aim.com) is at the center of one of the largest and most dynamic online and mobile communities. It�provides developers with an open and modular platform for development and�access to�more than 42 million Americans at http://developer.aim.com. The AIM service is where users go to find their friends and manage their social lives through instant messaging, email and mobile texting as well as robust voice and video services. About Comverse Comverse, a subsidiary of Comverse Technology, Inc. (NASDAQ: CMVT), is the world�s leading provider of software and systems enabling network-based multimedia enhanced communication and billing services. The company's Total CommunicationSM portfolio includes value-added messaging, personalized data and content-based services, and real-time converged billing solutions. Over 450 communication and content service providers in more than 120 countries use Comverse products to generate revenues, strengthen customer loyalty and improve operational efficiency. For additional information, visit the Comverse website at www.comverse.com or the Comverse Technology website at www.cmvt.com. All product and company names mentioned herein may be registered trademarks or trademarks of Comverse or the respective referenced company(s). Note: This release contains �forward-looking statements� under the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. There can be no assurances that forward-looking statements will be achieved, and actual results could differ materially from forecasts and estimates. Important factors that could cause actual results to differ materially include: the results of the investigation of the Special Committee, appointed by the Board of Directors on March 14, 2006, of matters relating to the company�s stock option grant practices and other accounting matters, including revenue recognition, recording of deferred tax accounts, expenses misclassification, misuse of accounting reserves and understatement of backlog; the impact of any restatement of financial statements of the company or other actions that may be taken or required as a result of such reviews; the company�s inability to file reports with the Securities and Exchange Commission; risks associated with the company�s inability to meet NASDAQ requirements for continued listing, including possible delisting; risks relating to the right of holders of ZYPS to require the company to repurchase their ZYPS upon delisting of the company�s shares from NASDAQ at a repurchase price equal to 100% of the principal amount of ZYPS to be purchased; risks of litigation and of governmental investigations or proceedings arising out of or related to the company�s stock option grants or any other accounting irregularities or any restatement of the financial statements of the company; risks associated with integrating the businesses and employees of the Global Software Services (�GSS�) division acquired from CSG Systems International, Netcentrex S.A. and Netonomy, Inc.; changes in the demand for the company�s products; changes in capital spending among the company�s current and prospective customers; the risks associated with the sale of large, complex, high capacity systems and with new product introductions as well as the uncertainty of customer acceptance of these new or enhanced products from either the company or its competition; risks associated with rapidly changing technology and the ability of the company to introduce new products on a timely and cost-effective basis; aggressive competition may force the company to reduce prices; a failure to compensate any decrease in the sale of the company�s traditional products with a corresponding increase in sales of new products; risks associated with changes in the competitive or regulatory environment in which the company operates; risks associated with prosecuting or defending allegations or claims of infringement of intellectual property rights; risks associated with significant foreign operations and international sales and investment activities, including fluctuations in foreign currency exchange rates, interest rates, and valuations of public and private equity; the volatility of macroeconomic and industry conditions and the international marketplace; risks associated with the company�s ability to retain existing personnel and recruit and retain qualified personnel; and other risks described in filings with the Securities and Exchange Commission. These risks and uncertainties discussed above, as well as others, are discussed in greater detail in the filings of the company with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. These documents are available through the company, or its website, www.cmvt.com, or through the SEC�s Electronic Data Gathering Analysis and Retrieval system (EDGAR) at www.sec.gov. The company makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances after the date any such statement is made. Comverse, a subsidiary of Comverse Technology, Inc. (NASDAQ: CMVT) and the world's leading supplier of software and systems enabling network-based multimedia enhanced communication and billing services, today announced that Amp'd Mobile, the pioneer of fully integrated mobile entertainment, has launched AOL's mobile AIM service utilizing Comverse's mobile instant messaging (IM) solution. The solution enables Amp'd Mobile to offer its subscribers a seamless interface to instant messaging on their mobile phones and access to their branded, full color AIM Buddy List feature from virtually anywhere. The solution is being provided on Comverse's hosted mobile IM environment. Comverse's mobile IM solution brings instant messaging to the mobile environment, closely replicating the look, feel, and functionality of the popular desktop AIM(R) service with real-time two-way and multi-party chat-like communication based on the AIM(R) Buddy List(R) feature. The solution enables operators to use the presence-enhanced contact list as a launching pad for additional multimedia features and services. Comverse's mobile IM product can be implemented as a hosted solution or in-network as part of the Comverse InSight(TM) Open Services Environment. "Our subscribers grew up using instant messaging, so offering them this key functionality broadens their mobile experience with a familiar interface they are accustomed to," said Mike McSherry, Senior Vice President of Emerging Technologies, Amp'd Mobile. "By bringing the AIM service to Amp'd Mobile, we are meeting the needs of our subscribers' fast-paced lifestyle and providing personalized communications that build customer loyalty. We are also pleased to announce a promotion that Amp'd Mobile subscribers will get free mobile AIM services from November 15 through January 31." "It is great to work with Amp'd Mobile and Comverse to deliver the benefits of the AIM service to Amp'd Mobile devices," said John McQueen, Vice President, AOL Mobile. "Through the power of the mobile Buddy List, Amp'd Mobile users have a convenient way to stay connected to family and friends while they are on the go." "According to industry analysts, instant messaging is one of the fastest growing applications in the mobile arena today," said Ramesh Barasia, President, Comverse Americas. "Comverse is well positioned to help MVNOs like Amp'd Mobile succeed in the competitive mobile market by introducing popular desktop applications to the mobile environment." About Amp'd Mobile Amp'd Mobile is the first integrated mobile entertainment company for youth, young professionals and early adopters, and the only 3G carrier in the U.S. specifically targeting youth and young professionals. By leveraging the power of broadband wireless (EVDO), Amp'd offers traditional services such as voice and text within a completely fresh user interface designed specifically for the "mobile graduate" and third-generation (3G) technology. With a myriad of customizable options to meet each person's individual needs, as well as strategic alliances with top entertainment properties MTVN and Universal Music Group, Amp'd brings a more relevant, personal experience to the wireless lifestyle with unique music, video, community, entertainment, sports and gaming offerings divided into various channels for quick and easy access. Offered nationwide, more information can be found at http://www.ampd.com. About the AIM(R) Service The AIM(R) service (http://www.aim.com) is at the center of one of the largest and most dynamic online and mobile communities. It provides developers with an open and modular platform for development and access to more than 42 million Americans at http://developer.aim.com. The AIM service is where users go to find their friends and manage their social lives through instant messaging, email and mobile texting as well as robust voice and video services. About Comverse Comverse, a subsidiary of Comverse Technology, Inc. (NASDAQ: CMVT), is the world's leading provider of software and systems enabling network-based multimedia enhanced communication and billing services. The company's Total Communication(SM) portfolio includes value-added messaging, personalized data and content-based services, and real-time converged billing solutions. Over 450 communication and content service providers in more than 120 countries use Comverse products to generate revenues, strengthen customer loyalty and improve operational efficiency. For additional information, visit the Comverse website at www.comverse.com or the Comverse Technology website at www.cmvt.com. All product and company names mentioned herein may be registered trademarks or trademarks of Comverse or the respective referenced company(s). Note: This release contains "forward-looking statements" under the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. There can be no assurances that forward-looking statements will be achieved, and actual results could differ materially from forecasts and estimates. Important factors that could cause actual results to differ materially include: the results of the investigation of the Special Committee, appointed by the Board of Directors on March 14, 2006, of matters relating to the company's stock option grant practices and other accounting matters, including revenue recognition, recording of deferred tax accounts, expenses misclassification, misuse of accounting reserves and understatement of backlog; the impact of any restatement of financial statements of the company or other actions that may be taken or required as a result of such reviews; the company's inability to file reports with the Securities and Exchange Commission; risks associated with the company's inability to meet NASDAQ requirements for continued listing, including possible delisting; risks relating to the right of holders of ZYPS to require the company to repurchase their ZYPS upon delisting of the company's shares from NASDAQ at a repurchase price equal to 100% of the principal amount of ZYPS to be purchased; risks of litigation and of governmental investigations or proceedings arising out of or related to the company's stock option grants or any other accounting irregularities or any restatement of the financial statements of the company; risks associated with integrating the businesses and employees of the Global Software Services ("GSS") division acquired from CSG Systems International, Netcentrex S.A. and Netonomy, Inc.; changes in the demand for the company's products; changes in capital spending among the company's current and prospective customers; the risks associated with the sale of large, complex, high capacity systems and with new product introductions as well as the uncertainty of customer acceptance of these new or enhanced products from either the company or its competition; risks associated with rapidly changing technology and the ability of the company to introduce new products on a timely and cost-effective basis; aggressive competition may force the company to reduce prices; a failure to compensate any decrease in the sale of the company's traditional products with a corresponding increase in sales of new products; risks associated with changes in the competitive or regulatory environment in which the company operates; risks associated with prosecuting or defending allegations or claims of infringement of intellectual property rights; risks associated with significant foreign operations and international sales and investment activities, including fluctuations in foreign currency exchange rates, interest rates, and valuations of public and private equity; the volatility of macroeconomic and industry conditions and the international marketplace; risks associated with the company's ability to retain existing personnel and recruit and retain qualified personnel; and other risks described in filings with the Securities and Exchange Commission. These risks and uncertainties discussed above, as well as others, are discussed in greater detail in the filings of the company with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. These documents are available through the company, or its website, www.cmvt.com, or through the SEC's Electronic Data Gathering Analysis and Retrieval system (EDGAR) at www.sec.gov. The company makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances after the date any such statement is made.