Middle Eastern country a “key strategic territory” for Ruislip-based firm
Technology manufacturer Santok is investing $1 million (£640,000) in its new research and development centre in Israel.
The site has been operational in the Israeli capital, Tel Aviv, since earlier this year and the company says it will use it to “drive product strategy and innovation forward”.
Israel’s technology sector is booming with PwC reporting that mergers and acquisitions and stock market flotations in the country were worth a total of $15 billion (£9.6 billion) last year.
It comes just a day after Santok announced that it was actively pursuing a strategy of acquisitions of other complementary companies.
The company has appointed Roy Cohen as director of innovations to lead the new site. He joined the company this month and has previously spent four years helping Israeli technology companies enter Brazil.
“As a global technology business we are highly responsive to local market trends,” said Cohen in a statement. “We see Israel as a key strategic territory & our investment in R&D is testimony to the country’s importance on the global tech stage.
“We have worked closely with our established channel & retail partners in Israel to grow our existing presence there – which we are now further supporting with this significant inwards investment.”
Santok currently operates under the StK Accessories brand and manufactures fixed-line handsets under the Tecdesk brand. It also has a global partnership with Indian smartphone manufacturer Karbonn Mobile to distribute its handsets outside of the country.
The firm grew its turnover by 12.4 per cent to £10.8 million in the year-ending 31 March 2014 (2013: £9.6 million). Profits during the same period fell by 74 per cent to £176,000 (£670,000).