Business in Brief: Amdocs Completes Purchase of cVidya

Check Point-CyberArk rumors cause jitters; TASE closes up, shekel weakens.

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The entrance of the Tel Aviv Stock Exchange.
Tel Aviv Stock ExchangeCredit: Bloomberg

Amdocs completes purchase of cVidya

Amdocs completed its acquisition of cVidya on Friday, sources told TheMarker. The buyout, which TheMarker revealed in November, cost $30 million. Some 10% of cVidya’s 200 employees will lost their jobs as a result. The remainder will go to work for Amdocs, after signing employment contracts with the company on Monday. They will receive the same or better terms of employment than they had at cVidya. Amdocs and cVidya worked in partnership for years preceding the buyout. cVidya, which provides revenue assurance and other business protection solutions for communications and digital service providers, has over 150 customers around the world and is profitable. Industry sources say that cVidya’s shareholders wanted to sell the company after it hit a glass ceiling in its field. (Inbal Orpaz)

Check Point-CyberArk rumors cause jitters

TheMarker’s disclosure last week of talks between Check Point and CyberArk on a potential acquisition deal has sent waves through the data security industry. The talks are only in the early stages, and nothing may come of them, yet CyberArk’s stock jumped 27% in the three days following the report. Investors are also taking a closer look at Check Point. “Has the time come to sell Check Point, the reliable cyber stock?” a Bloomberg Business headline on Sunday asked. Palo Alto Networks and Cisco are threatening Check Point’s market share, while investors fear a cybersecurity spending boom may peter out this year, explains the publication. (Omri Zerachovitz)

TASE closes up, shekel weakens

The Tel Aviv Stock Exchange ended Monday’s trading session with gains. Both the blue-chip TA-25 index and the broader TA-100 index gained 0.5%, to close at 1,456 points and 1,250 points, respectively. Bank shares gained 0.15%, while real-estate shares dropped 0.25%. Total turnover was 1.088 billion shekels. The shekel weakened against other major currencies, and the representative exchange rate with the dollar was set at 3.956 shekels. Shares of Alon Blue Square dropped 4.5% after soaring by 59% in trading on Sunday. Market sources attributed the jump on Sunday to an assessment that it now appears unlikely that the company will have to inject cash into its beleaguered subsidiary, the Mega supermarket chain. A stay of proceedings was approved for Mega on Monday. Another Alon Blue Square subsidiary, Square Real Estate, gained 6.8% in trading on Monday on the news that it had received two buyout offers. (Ruti Levy)

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