8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                              ---------------------

                                    FORM 8-K

                                 CURRENT REPORT
     PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

                Date of Report (Date of earliest event reported):
                                November 5, 2007


                            COMVERSE TECHNOLOGY, INC.

             (Exact name of registrant as specified in its charter)


        NEW YORK                        0-15502                   13-3238402

(State or other jurisdiction          (Commission               (IRS Employer
       of incorporation)              File Number)           Identification No.)


                               810 Seventh Avenue,
                               New York, New York
                                      10019
                    (Address of Principal Executive Offices)
                                   (Zip Code)

       Registrant's telephone number, including area code: (212) 739-1000


Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[_]   Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)

[_]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)

[_]   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

[_]   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))






ITEM 8.01.  OTHER EVENTS.

On November 5, 2007, Comverse Technology, Inc. (the "Company") issued a press
release announcing updates to its previously announced accounting restatement
process. A copy of the press release is attached as Exhibit 99.1 to this Current
Report and is incorporated herein by reference.


ITEM 9.01   FINANCIAL STATEMENTS AND EXHIBITS.

      (d)   EXHIBITS:

            Exhibit No.                          Description
            -----------                          -----------

               99.1          Press Release of Comverse Technology, Inc. dated
                             November 5, 2007



















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                                   SIGNATURES

            Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                                 COMVERSE TECHNOLOGY, INC.


Date:  November 5, 2007                          By:   /s/  Cynthia Shereda
                                                      --------------------------
                                                 Name:  Cynthia Shereda
                                                 Title: Executive Vice President
                                                        and General Counsel




















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                                  EXHIBIT INDEX

Exhibit No.                                Description
- -----------                                -----------

   99.1                Press Release of Comverse Technology, Inc. dated
                       November 5, 2007























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EX-99

                                                                    EXHIBIT 99.1
                                                                    ------------

COMVERSE TECHNOLOGY UPDATES PREVIOUSLY ANNOUNCED ACCOUNTING RESTATEMENT PROCESS
Monday November 5, 7:00 am ET
CONFERENCE CALL TO BE HELD MONDAY NOVEMBER 5, 8:30AM EST


NEW YORK--Comverse Technology, Inc. (Pink Sheets: CMVT.PK - News) today
announced that its previously stated expectation to become current in its
financial reports by the end of its fiscal year 2007, ending January 31, 2008,
is likely to be delayed as a result of an evaluation of its recognition of
revenue based on the application of Statement of Position (SOP) 97-2, Software
Revenue Recognition, as amended and interpreted, specifically relating to vendor
specific objective evidence ("VSOE"). Any accounting errors identified as a
result of this evaluation are only expected to impact the timing of revenue
recognized and not to call into question the validity of the underlying
transactions or revenue. Consequently, the company believes that its aggregate
revenue, inclusive of deferrals, will not be impacted by any restatements caused
by this issue. Until the SOP 97-2 evaluation is complete, the company may not be
in a position to provide revenue and other income statement information to
investors.

Andre Dahan, President and Chief Executive Officer, Comverse Technology, Inc.,
said, "The accounting issues related to the application of VSOE include the
evaluation of very complex software revenue recognition standards, and the
timing and recognition of maintenance revenue, which we are committed to getting
right. This area of review arose in connection with the audit of our fiscal 2006
statements, and is not associated with the investigations led by the Special
Committee of our Board of Directors, which are substantially complete. Any
restatements resulting from this review is not a reflection on our business, but
an indication of our commitment to address any potential accounting issues,
correct them, and put them definitively behind us. We remain very optimistic
about the strength of our business and its prospects. We are strong financially,
hold leadership positions in our major markets, and deliver high value products
and solutions to our customers. We remain focused on delivering value to our
customers, and committed to our objective to build and deliver a new Framework
for Profitable Growth at the company."

The SOP 97-2 VSOE related concerns arose in connection with the audit of the
company's financial statements for fiscal year 2006 (ended January 31, 2007) by
the company's independent registered public accounting firm. Such evaluation is
not part of the investigations conducted by the Special Committee of the
company's Board of Directors. Included in this evaluation is a determination of
VSOE of fair value for the various elements of the company's bundled hardware
and software solutions and associated services for earlier years as well.








The company cautions that its previously issued financial statements and the
revenue and selected consolidated financial items disclosed in its press
releases issued on March 22, 2007, June 11, 2007 and September 10, 2007, should
no longer be relied upon. The company believes that its aggregate revenue,
inclusive of deferrals, will not be impacted by any restatements caused by this
issue. It is not presently known if the accounting review will identify
additional or different issues that could further impact the company's financial
statements or if the impact of these issues would be material.

STATEMENT OF POSITION (SOP) 97-2:

SOFTWARE REVENUE RECOGNITION, VENDOR SPECIFIC OBJECTIVE EVIDENCE (VSOE)

In general, the presence of VSOE permits revenue to be allocated among, and
recognized upon the delivery of the contractual arrangement's various elements.
Most of the company's sales transactions are generated from complex contractual
arrangements with multiple elements requiring significant analysis with respect
to the facts surrounding the transactions, and accounting analysis under highly
technical accounting rules in order to determine the appropriate period in which
to record revenue. When a contract involves multiple elements, such as sales of
products that include maintenance, the company has allocated the value of the
total purchase to each item within the purchase arrangement based on its
determination of VSOE. If the company for accounting purposes is unable to
determine the fair value of an undelivered element, as defined by VSOE, revenue
for the entire arrangement is deferred until all elements have been delivered.
Given the customized nature of the company's products and services, and the
complexity of its contracts, VSOE can be difficult to establish. For example,
many of the company's large customers receive maintenance as part of a sale that
also includes product. The company has historically determined that portion of
the sale to be classified and deferred as maintenance revenue based on VSOE.

As a result of this evaluation, the company may conclude that insufficient
evidence existed to support the company's prior determination that VSOE existed
for certain elements of its contracts and would be required to restate its
previously reported revenues. Generally, the absence of VSOE will result in the
recognition of revenue over longer periods of time. Any determination concerning
the absence of VSOE is expected to impact the timing of revenue recognized by
the company and not call into question the validity of the underlying
transactions or revenue.

CONFERENCE CALL INFORMATION

The company plans to conduct a conference call on Monday, November 5, 2007 at
8:30 AM EST. To listen to the conference call live, dial 800-951-9235 (domestic)
or 706-902-3107 (international). Please dial-in at least five minutes before the
scheduled start time. A replay of the call will be available at 706-645-9291, ID
# 23479679. An archived webcast will be accessible at www.cmvt.com.



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ABOUT COMVERSE TECHNOLOGY, INC.

Comverse Technology, Inc. is the world's leading provider of software and
systems enabling network-based multimedia enhanced communication and billing
services. The company's Total Communication portfolio includes value-added
messaging, personalized data and content-based services, converged IP
communications solutions, and real-time converged billing solutions. Over 500
communication and content service providers in more than 130 countries use
Comverse products to generate revenue, and improve customer loyalty and
operational efficiencies.

Other Comverse Technology subsidiaries include: Verint Systems (Pink Sheets:
VRNT.PK - News), a leading provider of analytic software-based actionable
intelligence solutions for security and business interaction intelligence; and
Ulticom (Pink Sheets: ULCM.PK - News), a leading provider of service essential
signaling solutions for wireless, wireline, and Internet communications.

For additional information, visit 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).

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 any forward-looking statements will be achieved, and actual
results could differ materially from forecasts and estimates. Important factors
that could affect the company 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 errors in revenue recognition, errors in the
recording of deferred tax accounts, expense misclassification, the possible
misuse of accounting reserves and the 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 investigation or as result of the
company's VSOE evaluation; the company's inability to file reports with the
Securities and Exchange Commission; the effects of the delisting of the
company's Common Stock from NASDAQ and the quotation of the company's Common
Stock in the "Pink Sheets," including any adverse effects relating to the
trading of the stock due to, among other things, the absence of market makers;
risks relating to the company's ability to relist its Common Stock on NASDAQ;
risks relating to alleged defaults under the company's ZYPS indentures,
including acceleration of repayment; risks of litigation (including the pending
securities class action and derivative lawsuits) and of governmental
investigations or proceedings arising out of or related to the company's stock
option practices or any other accounting irregularities or any restatement of
the financial statements of the company, including the direct and indirect costs
of such investigations and restatement; risks related to Verint Systems Inc's.
merger with Witness Systems, Inc., including risks associated with integrating
the businesses and employees of Witness; risks associated with integrating the


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businesses and employees of the Global Software Services 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; the risk of declines in information technology spending; 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. The company undertakes no commitment to
update or revise forward-looking statements except as required by law.


Contact:
Comverse Technology, Inc.
Paul D. Baker, 212-739-1060
paul.baker@cmvt.com