The Owners and staff at Amdocs, a large although relatively unknown Israeli software house have reportedly been selling off shares and options prior to its first public share offer on Wall Street next month. Sellers include the owners and senior executives at the company – notably chairman Avi Dotal and managing director Avinoam Naor. The company has refused to comment but the buyer is apparently a large American financial institution. Profits from the sales are estimated at 400m-600m NIS ($112m-$168m) and the sale was based on an estimated market value of $600m-$800m. Goldman Sachs will be handling the share issue which is expected to earn the company between $300m-$400m based on a market value of $3bn-$4bn. Amdocs employs 3000 people, mostly programmers, and has been growing rapidly over the last several years and earned over 300 NIS ($80m) net last year. The company specializes in developing and selling IT systems to telephone and communication companies around the world. It is a daughter company of Aurec. Aurec itself is reportedly planning a 20% public share issue with a market value of $2bn which is huge by local standards.
