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WOODBURY, N.Y.—Enhanced messaging company Comverse, a unit of Comverse Technology Inc., announced the sale of its Intelligent Short Message Service Center to two South American wireless carriers, news that comes just a day after Merrill Lynch downgraded its expectations for the company, sending Comverse’s stock to a new 3-year low.
The company’s stock was recovering Wednesday, trading at about $19 per share, but was way off the $100 it fetched in January.
Comverse said it sold its ISMSC to Argentina’s Telecom Personal GSM network and Mexico’s Telcel. The company’s ISMSC is an open, high-capacity SMS platform.
