HOD HASHARON, Israel, March 16 (UPI) -- Israeli Voice over Internet Protocol firm Veraz Networks Ltd. could go public on the Nasdaq by the end of 2006 in a deal worth as much as $500 million.
"Companies like Israel's Bezeq Ltd. or Verizon Communications in the U.S. are going in the direction of VoIP," Veraz Chief Executive Officer Doug Sabella told the Israeli business newspaper Globes in an interview.
The company makes software switches to hook up traditional telephony and 3G VoIP networks, and it announced the development of a "fully-integrated, end-to-end, VoIP network solution at Bezeq" in a statement on Wednesday.
The company also offers media gateways for voice compression that help communications providers deploy customized next-generation networks, the newspaper said.
According to Sabella, 2005 was a banner year for Veraz: "We doubled the number of our customers. I won't disclose the company's level of revenue, but sales of its IP products increased by several hundred percent. We have 350 employees worldwide, and 65 percent of our business is outside the U.S.," he told the newspaper.
Globes sources estimated the company's annual sales to be around $100 million.
"Veraz is a global company that competes head-to-head with the largest companies. It isn't going to disappear anytime soon," Sabella added.
