TLV Recap - 3 January
Psagot looks in play, once again. Amdocs shows even big tech isn't immune to job cuts
Amdocs reduces workforce by 3%
Amdocs (NASDAQ:DOX) is laying off 700 employees including 100 in Israel, reducing its workforce by 3%, news outlet Calcalist reported.
Amdocs currently employs approximately 5,000 employees in Israel.
The software maker previously laid off around 1,000 employees in the early days of the coronavirus outbreak.
Elbit Systems awarded USD 107 million contract from IDF to provide battle tank simulation, training centers
Elbit Systems (NASDAQ:ESLT; TLV:ESLT) secured a $107 million contract to provide, operate and maintain the new main battle tank simulation and training centers of the Armored Corps of the Israeli Defense Forces, Elbit said in a press release on Wednesday.
Elbit has provided training and simulation technological solutions to a range of countries including the US, the UK, Greece, The Netherlands, Poland, and others.
Delek’s Ithaca Energy confirms hydrocarbons presence at Isabella discovery
Ithaca Energy (LON:ITH), part of Delek Group (TLV:DLEKG), in a UK regulatory filing has reported a presence of hydrocarbons in the Upper Jurassic and Triassic sandstone reservoirs at the Isabella discovery.
Ithaca holds a 10% stake in the Isabella discovery.
Ithaca invested about $6.7 million British pounds at a total cost of $ 66.6 million pounds for the drilling conducted at the depth of 15,600 feet.
Ithaca expects to start the exploration drilling at its K2 prospect between June and July 2023. The company owns a 50% stake in the prospect.
Phoenix said in talks to buy ‘large stake’ in Psagot Investment House
Phoenix Holdings (TLV:PHOE) is in talks to buy a significant stake in the Psagot Investment House, news outlet The Marker reported.
If the transaction goes ahead, Phoenix would control about 26% of the mutual funds markets in Israel, with funds totaling about ILS 94.8 million.
Earlier in December it was reported that Abu Dhabi state holding firm ADQ is leading a consortium to buy a controlling stake in Phoenix for more than $800 million.
Two years ago, Altshuler Shaham (TLV:ALTF) was in exclusive talks with Apax Partners to buy the core activities of Psagot, while separate talks were underway for Psagot's insurance holdings, Globes reported at the time.
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