Amdocs, SingTel R&D May Help Israel Startups Enter Asia
Amdocs Ltd. (DOX) and Singapore Telecom Ltd., known as SingTel, opened a development center that they say may help Israeli startups in mobile phone applications enter Asian markets.
The facility at Amdocs headquarters in Ra’anana, Israel, is located next to a research unit the company operates together with AT&T Inc. (T), Chief Executive Officer Eli Gelman said today at a joint news conference with SingTel.
Gelman set up both development centers after becoming CEO in the first quarter of 2011. Amdocs’ U.S.-traded shares have gained 27 percent since April 1, 2011, compared with a 2.3 percent advance in the Nasdaq-100 Technology Index.
Israel is seeking to increase exports to Asian markets after the global economic crisis led to weakened demand in Europe and the U.S. Exports to Asia expanded 4.1 percent in 2012, while sales to Europe and the U.S. declined by 1.5 percent and 2 percent respectively, the Jerusalem-based Central Bureau of Statistics reported Jan. 20.
“One of the more specific efforts made under Gelman has been in the area of geographic expansion, particularly focusing on large service providers in emerging markets,” Jeff Donlon, an analyst with Manning & Napier Advisors Inc., wrote in an e- mail on March 1. Manning & Napier, based in Fairport, New York, manages more than $25 billion and is the second-largest investor in Amdocs, according to data compiled by Bloomberg.
For SingTel, which has stakes in mobile-phone companies in Thailand, Indonesia and India, the new center expands its presence in Israel. The carrier acquired Amobee Inc., an Israeli mobile advertising company, a year ago for $321 million, according to data compiled by Bloomberg.
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