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In 2006, Comverse was involved in an options backdating scandal.

Alexander and two other top executives were charged in the US with multiple counts of conspiracy, fraud, money laundering and making false filings.

Alexander fled the country to Namibia where he engaged in a prolonged fight against extradition.

Led by co-founder and CEO Jacob "Kobi" Alexander, the company originally specialized in centralized hardware/software systems for voice and fax messaging and sold them to telecommunications companies and other large enterprises.

Much of its funding came from Israeli government subsidies and tax credits provided to research and development for hi-tech firms.

By the mid-1990s, one of its most successful products allowed legal authorities and intelligence agencies to record and store data collected from intercepted communications.

Starting in the late 1990s, Comverse's voice messaging software became its main product and the company grew rapidly with the surge in mobile phone use, passing the billion mark in revenues.

It established a formidable position in the worldwide mobile voicemail management market and sold a popular short message service center (SMSC) product.

While headquartered in the US, most of the company's research and development was done in Israel; Comverse became one of the more visible success stories in Israel's hi-tech industry.It was one of Israel's largest employers of software engineers, was closely followed in the nation's business press, and was the first Israeli-associated company to join the S&P 500 index.Comverse Technology, Inc., originally founded in Israel, was a technology company located in Woodbury, New York in the United States, that developed and marketed telecommunications software.The company focused on providing value-added services to telecommunication service providers, in particular to mobile network operators.Comverse Technology had several wholly or partly owned subsidiaries.The name "Comverse" is a fusion of the words "communication" and "versatility".