Seeking Alpha

AudioCodes pops after government-backed R&D center approved

  • Israel's Office of the Chief Scientist (OCS) has approved a 3-year NID100M ($29M) program for AudioCodes (AUDC +6.9%) to develop a cloud computing R&D center. A $6.4M budget has been approved for 2014, of which the OCS will be supporting nearly two-thirds.
  • AudioCodes expects its R&D center to employ 100 engineers by 2016, and that "a significant portion" of the project's cost will be reimbursed by OCS grants.
  • The VoIP hardware/software provider says the facility will work on technologies related to the delivery of real-time communication services, among other things.
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