Tadiran Scopus changes name

Scopus Network Technologies is officially changing its name to Scopus Network Technologies to reflect the expansion of its business activities as it is broadens its quality MPEG-2 DVB offerings to the broadcast world. Scopus Network Technologies is evolving to serve the growing needs for digital delivery over broadband networks.

Scopus Network Technologies also has completed a first round of private financing raising US $17.4 Million to support the development of existing and new business efforts. Leading Scopus' private funding round was Polaris Venture Capital with a US $8 Million investment and Vertex Israel with an additional US $3.2 Million. Other investors included Dr. Yossi Vardi, Sadot Fund, Formula Ventures, SFK and Catalyst.

Scopus will use the funding to further expand and leverage its CODICO platforms for the development of professional end-to-end solutions for MPEG-2, DVB digital TV delivery over broadcast networks and future interactive broadband systems. The funding will also allow Scopus to expand its marketing and sales network worldwide.

Founded in 1995 as a subsidiary of Tadiran and a member of Koor Industries, Scopus has approximately 120 employees worldwide. Its client base includes CBS (USA), BBC (UK), Deutsche Telekom (Germany), PCTV (Mexico), France Telecom (France), PRAMER/Liberty Media (Argentina), Satelindo (Indonesia) and VSNL (India), among others.

Scopus CEO David Mahlab remarked, "This investment in Scopus represents investors' confidence in our technological abilities as well as in our past accomplishments. Above all, it represents trust in our employees." Mahlab added, "The capital raised will be used by Scopus to develop new and exciting product lines to enable the supply of interactive video and media services and to extend and deepen our positioning and sales forces in the broadcast market."

Source: Scopus Network Technologies