Mellanox Advances as CEO Forecasts Revenue Increase
Mellanox Technologies Ltd. climbed to the highest level in more than eight months as Chief Executive Officer Eyal Waldman said the purchase of Voltaire Ltd. may boost sales 10-fold within the “coming years.”
The shares of the maker of data-center adapters and software increased 3.9 percent to 97 shekels at the 4:30 p.m. close in Tel Aviv, the highest since April 26. The stock gained 3.3 percent in New York yesterday.
Yokneam Elit-Israel based Mellanox agreed in November to buy Voltaire for about $218 million. As a result, sales could reach $1.5 billion within the coming years, Waldman said without being more specific. He forecasts 2010 sales of as much as $154 million for Mellanox and up to $70 million for Voltaire.
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