Ceragon Networks Ltd.

Ceragon Networks Ltd.

Ceragon Networks Ltd.

Overview
Date Founded

1996

Headquarters

24 Raoul Wallenberg Street, Tel Aviv, 69719, ISR

Type of Company

Public

Employees (Worldwide)

958

Industries

Equipment & Office Supplies

Company Description

Ceragon Networks Ltd. engages in the provision of wireless backhaul solutions. Its products include radio units, management systems, small cell hauling, packet and hybrid microwave, and long haul solutions. The company renders transmission capacity to mobile and fixed-line carriers, and private network operators. Ceragon Networks was founded on July 23, 1996 and is headquartered in Tel Aviv, Israel.

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Executives & Employees

Chief Executive Officer & President

Deputy Chief Executive Officer

Chief Financial Officer

Chief Operating Officer

Vice President General Counsel

Chief Information Officer

President, North America

Regional President, India

President, Europe

President, APAC

Board of Directors

Co-Founder at Radcom Ltd.

Co-Founder at Silicom Ltd.

Chief Executive Officer & President at Ceragon Networks Ltd.

Former Chief Executive Officer & Senior Partner at PricewaterhouseCoopers (Israel)

Former Chief Executive Officer at Avgol Industries 1953 Ltd.

Former Corporate Officer & Chief Strategy Officer at Verint Systems, Inc.

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Owners & Shareholders
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First Wilshire Securities Management (FWSM) is a small- and mid-cap value manager that believes the investment process is best broken down into three components: research, trading and portfolio management. The characteristics they look for in the measurement of value include strong company management and history, relatively small debt and relatively a large cash position, expanding cash flow, earnings growth superior to its industry and the economy in general, p/e ratio below unweighted market average and ROE above industry average. Portfolios tend to include the following types of issues: turnaround situations, small-cap companies and new concept or product companies. FWSM's portfolios are not weighted specifically by industry balance and they often have greater concentrations in individual issues or industry groups than found in the S&P 500 universe.

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Techinvest Ltd. is a private company headquartered in Dublin, Ireland, that provides investment advice. The firm was founded in 1984 by Conor McCarthy, he has been the CEO since the company founding.

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Perritt Capital Management (PCM) specializes in small-cap investment strategies for individual and institutional investors. Though not limited by sector, the firm tends to invest in the stocks of US small-cap companies in the electronic technology, industrial services and healthcare services sectors. PCM maintains a very low turnover rate.The firm offers a small-cap strategy to institutional clients that seek above average long-term investment returns. The Perritt Smaller Company strategy seeks to capture the benefits of investing in fundamentally sound, small-cap companies through bottom-up, fundamental stock selection. Their investment selection process begins with a universe of approximately 5,000 publicly-traded companies with market-cap of $50 million to $500 million. PCM's investment ideas are derived from a variety of sources, including in-house fundamental research and relationships with research firms and regional brokers. Ideas are subjected to a 9-step assessment that is based on investment fundamentals including strong balance sheets, positive cash flows and expanding profitability. Companies that meet these criteria are then qualitatively analyzed through discussions with operating management and additional in-house research. The firm seeks to identify companies with niche businesses, competitive advantages, strong market shares and proven management teams. Final selections are based on a set of valuation metrics targeting upward trends in revenue and cash flow, positive earnings and long-term growth potential . Sell decisions are based on valuations, weakened fundamentals or a market-cap approaching $1.5 billion. PCM maintains a diversified portfolio of long-term holdings. The portfolio invests in the stocks of 100 or more companies across all industries and sectors. Positions generally range from .5% to 1.5% of the portfolio's assets and may be reduced if they exceed 3%. Investment time horizons are 3 to 5 years and the portfolio strives to keep turnover low, averaging 20% to 30% annually.PCM's mutual funds seek to capitalize on investments in small-cap companies through the use of bottom-up, fundamental stock selection. The firm believes that investments in fundamentally and financially sound small-cap companies can enhance growth potential and decrease downside risk.The Perritt MicroCap Opportunities Fund invests in a diversified portfolio of the stocks of companies with market-cap of $500 million or less. The fund invests in micro-cap companies that have the potential for long-term capital appreciation based on superior or niche products or services, favorable operating characteristics, superior management teams and/or other exceptional factors. The fund invests in a mix of both value and growth stocks.The Perritt Emerging Opportunities Fund invests in a diversified portfolio of the stocks of companies with market-cap of $300 million or less. The fund invests in very small companies that have a significant percentage of stock owned by management, low levels of long-term debt, above average revenue and earnings growth rates that possess reasonable valuations based on the ratios of price-to-sales, price-to-earnings and price-to-book values.PCM offers separately managed accounts for investors using asset allocation and/or small-cap equity strategies.

Recent Transactions
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Ceragon Networks Ltd. issued USD Ordinary Shares

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Ceragon Networks Ltd. issued Ordinary Shares

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Ceragon Networks Ltd. issued Ordinary Shares

Transaction Advisors
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Advised onCeragon Networks Ltd. issued Ordinary Shares

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Advised onCeragon Networks Ltd. issued Ordinary Shares

Legal Advisor

Advised onCeragon Networks Ltd. issued Ordinary Shares

Advisors & Consultants
Legal Advisor

Partner at Mayer Brown LLP

Legal Advisor

Partner at Kramer Levin Naftalis & Frankel LLP

Legal Advisor

Shareholder at Greenberg Traurig LLP

Clients

IDEA Cellular is a publicly listed company, having listed on BSE & NSE in March 2007. It is the 3rd largest mobile services operator in India with wireless revenue market share at 15 % in Q1 FY 2013, and subscriber base of over 117 million. Idea has consistently stayed ahead of the industry in VLR reporting, and has the 3rd highest base of active subscribers. Idea is a pan-India integrated GSM operator and has its own NLD and ILD operations, and ISP license. With traffic in excess of a billion minutes a day, Idea ranks among the Top 10 country operators in the world. Idea operates across all 22 service areas with 2G services and 3G services spread in over 3,000 towns and 10,000 villages. Idea has a network of over 97,000 2G and 3G cell sites covering the entire length and breadth of the country. Idea has nearly 4,000 Service Centres servicing Idea subscribers across the country, including over 650 special Experience Zones for 3G promotion. Idea’s service delivery platform is ISO 9001:2008 certified, making it the only operator in the country to have this standard certification for all 22 service areas and the corporate office. Idea’s thought leadership on Mobile Number Portability (MNP) has enabled it to stay as the top gainer with highest net gain, with over 3.7 million mobile users preferring Idea network. Idea’s strong growth in the Indian telephony market comes from its deep penetration in non-urban & rural markets. It has the highest share of rural subscribers as a percentage of total subscribers, amongst other GSM players. In fact, 2 out of every 3 new Idea subscribers come from rural/ semi-urban India. Idea won the ‘Best Brand Campaign’ at the esteemed World Communication Awards 2011. It also recently won 3 Awards at the ET Telecom Awards 2012, in the following categories Customer Experience Enhancement, Excellence in Marketing and Innovative products, respectively. It is also the winner of ‘The Emerging Company of the Year Award’ at The Economic Times Corporate Excellence Awards 2009. IDEA Cellular also received the prestigious Avaya GlobalConnect Award for being the ‘Most Customer Responsive Company’ in the Telecom sector in the year 2010. The company has received several other national and international recognitions for its path-breaking innovations in mobile telephony products & services. It won the GSM Association Award for ‘Best Billing and Customer Care Solution’ for 2 consecutive years. It was awarded ‘Mobile Operator of the Year Award – India’ for 2007 and 2008 at the Annual Asian Mobile News Awards. IDEA Cellular is an Aditya Birla Group Company, India’s first truly multinational corporation. The group operates in 33 countries, and is anchored by more than 132,000 employees belonging to 42 nationalities.

Bharti Airtel Limited is a leading integrated telecommunications company with operations in 20 countries across Asia and Africa. Headquartered in New Delhi, India, the company ranks amongst the top 5 mobile service providers globally in terms of subscribers. In India, the company's product offerings include 2G, 3G and 4G services, fixed line, high speed broadband through DSL, IPTV, DTH, enterprise services including national & international long distance services to carriers. In the rest of the geographies, it offers 2G, 3G mobile services. Bharti Airtel had over 246 million customers across its operations at the end of February 2012.

Reliance Group, an offshoot of the Group founded by Shri Dhirubhai H Ambani (1932-2002), ranks among India’s top three private sector business houses in terms of net worth. The group has business interests that range from telecommunications (Reliance Communications Limited) to financial services (Reliance Capital Ltd) and the generation and distribution of power (Reliance Infrastructure Limited). Reliance Group’s flagship company, Reliance Communications, is India's largest private sector information and communications company, with over 150 million subscribers. It has established a pan-India, high-capacity, integrated (wireless and wireline), convergent (voice, data and video) digital network, to offer services spanning the entire infocomm value chain. Other major group companies — Reliance Capital and Reliance Infrastructure — are widely acknowledged as the market leaders in their respective areas of operation

Key Stats and Financials As of 2018
Market Capitalization
$209M
Total Enterprise Value
$270M
Earnings Per Share
$0.29
Revenue
$344M
Net Profit
$23M
EBITDA
$31.8M
EBITDAMargin
9.24%
Total Debt
$0
Total Equity
$160M
Enterprise Value Sales
0.79x
Enterprise Value EBITDAOperating
8.51x
TEVNet Income
11.72x
Debt TEV
0x
Three Year Compounded Annual Growth Rate Of Revenue
-3.06%
Five Year Compounded Annual Growth Rate Of Revenue
-1.08%
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RADWIN Ltd. Cable, Satellite, and Radio Telecommunications | Tel Aviv, TA

RADWIN Ltd. delivers wireless backhaul and broadband access solutions. The firm provides a complete portfolio of sub-6 GHz point-to-point and point-to-multipoint solutions and a multi-service 3G small cell solution. Its applications include backhaul, broadband access, private network connectivity, video surveillance transmission as well as wireless broadband in motion for trains, vehicles and vessels. The company was founded by Sharon Sher in 1997 and is headquartered in Tel Aviv, Israel.

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Competitors
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Huawei Investment & Holding Co., Ltd. develops information and communication technology solutions. The firm offers foreign investment, management and consultation, and information technology services. The company was founded on March 14, 2003 and is headquartered in Shenzhen, China.

Telefonaktiebolaget LM Ericsson Equipment & Office Supplies - Kista, AB

Telefonaktiebolaget LM Ericsson engages in the provision of telecommunications equipment and related services to mobile and fixed network operators. It operates through the following segments: Networks, Digital Services, Managed Services, and Emerging Business and Other. The Networks segment supports all radio-access technologies and offer hardware, software and related services for both radio access and transport. The Digital Services segment provides software and services in the areas of digital business support systems, operational support systems, cloud communication, cloud core, and cloud infrastructure. The Managed Services segment includes networks and information technology managed services, network design and optimization, and application development and maintenance. The Emerging Business and Other segment encompasses emerging business, Iconectiv, MediaKind, Red Bee Media, and Media Solutions. The company was founded by Lars Magnus Ericsson in 1876 and is headquartered in Kista, Sweden.

Nokia Corporation Equipment & Office Supplies - Espoo, UU

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