Witness Buying Financial-Transaction Recording Firm

If you've ever heard the sentence, "This call may be monitored for quality-assurance purposes," odds are Witness Systems Inc. technology was working behind the scenes. The vendor sells call-center and CRM system-monitoring software that helps customer-service organizations discover where trouble spots exist in order to improve service and support. Now, the vendor is expanding into new areas.

On Monday, Witness Systems said it will acquire Eyretel plc, a U.K.-based vendor that similarly records interactions but is more likely to be found on the trading floors of companies in the financial-services industry rather than in call centers. Eyretel records financial transactions to ensure that they comply with regulations and to provide records of deals. Both companies are worth approximately $70 million.

Eyretel has a strong European and Asian market penetration, while Witness is stronger in the United States, so the combined companies will help cross-sell their respective products in new global markets.