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Printed circuit board manufacturer Eltek Ltd. has won a $1.6 million order for its flex-rigid printed circuit boards (PCBs) from a European medical equipment manufacturer. Arie Reichart, Eltek's president and chief executive officer said the orders were part of the "momentum" the company has been experiencing in its European and US operations, adding that it was "reasonable to expect that we will receive follow-on orders in subsequent quarters." The Petah Tikva-based company is expected to deliver the PCBs in the second quarter.
Herzliya-based BluePhoenix Solutions, a provider of enterprise IT modernization products, has extended a private placement round, raising $3 million from institutional investors. The company plans to use the funds for working capital. Under terms of the private placement, BluePhoenix issued each investor a 44-month debenture, convertible into stock at $4.50 per share. Each investor also received warrants to purchase ordinary shares at $6.50 each. If the warrants are fully exercised, BluePhoenix would issue an additional 200,000 ordinary shares for gross proceeds of $1.3m. The company had issued of $5m. in convertible debentures in 2004.
Meanwhile Amdocs, integrated its CRM system and several other systems at the Kazakhstan-based cellular operator KaR-Tel, a subsidiary of the Russian cellular communications company VimpelCom. With this project, Amdocs expands its market to Commonwealth of Independent States (CIS) outside Russia. Amdocs CRM enables KaR-Tel to reduce average call waiting time and speed order entry and quote development, while reducing training costs. KaR-Tel also will use Amdocs billing products for automated resource and inventory management to improve and simplify sales and provisioning processes of pre-paid and post-paid services.
Petah Tikva-based ECI Telecom has launched its new family of Hi-Focus MiniShelf solutions, creating the first virtual central office solution bringing full central office capabilities to street installations. The new range brings advanced broadband capabilities previously available only in the central office to any remote location. The Hi-Focus MiniShelf is the first solution for street installations to combine xDSL and Fiber to the Premises capabilities into one box. This enables service providers to deploy future proof platforms using the most advanced access technologies.