"Our operations are global, and you can seem them in Israel with HOT Telecommunication Systems Ltd. (TASE: HOT) and YES (DBS Satellite Services (1998) Ltd.). Contact with Cisco was initiated in January 2012, and, for such a large deal, negotiations were conducted at a crazy pace. But we work with Cisco, and as a leader in our field, which helped," NDS COO and NDS Israel CEO Rafi Kesten told “IDF Radio" (Galei Zahal) today.
“IDF Radio": How aware were the workers of the negotiations?
Kesten: "Until the last day, our goal was to hold a new IPO on Nasdaq. Only a very few executives knew about Cisco. The process began at an exhibition in January, when some Cisco executives came to our pavilion to examine NDS's latest developments. Subsequent talks were rapid."
How did it feel when the deal was signed?
"We've just returned from several weeks in California. There's a lot of pride that the company was so attractive for Cisco."
Are employees worried about their jobs?
"There's a great deal of pride in the company. The nature of the acquisition explicitly shows this, and both Cisco and NDS executives have said that this is the link-up of two outstanding companies, not a streamlining measure. There is no intention of firing employees, but to continue and increase the workforce in the coming years in Jerusalem and elsewhere in the country."
What is the significance of the deal from the point of view of tax revenues and the economy?
"There's huge significance for the Israeli economy. Money will continue to flow into the country from all our operations. The deal itself won't directly bring money to the country."
Published by Globes [online], Israel business news - www.globes-online.com - on March 18, 2012
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012