Video services company, Optibase (OBAS), said on Friday that it began a tender offer for about 5% of the shares of Scopus Video Networks (SCOP). Following the tender (made about 6% above market price), Optibase’s would raise its stake in Scopus to almost 28%.

Israel defense contractor Elbit Systems (ESLT) announced on Thursday that a subsidiary, Tadiran, received a $85MM communications equipment contract from a European customer.

Partner Communications (PTNR) is served a lawsuit requesting certification as a class action, alleging that Israel’s second-largest mobile phone operator over-billed one million subscribers. The lawsuit, if certified as a class action, can potentially seek 1.5 billion shekels, or about $357MM.

LightReading out on the test-and-measurement sector’s unpredictability. While Radcom (RDCM) is having a disappointing 2007 (see IsraelNewsletter’s coverage on RDCM’s woes), Canadian test vendor, EXFO (EXFO) is on a roll. Its stock is up over 27% in 2007 off of beating expectations and record bookings.

Tel Aviv Court to hear Templeton-Taro case in September. Franklin Templeton (BEN) has filed a petition against the acquisition of Taro (TARO.pk) by India’s Sun Pharmaceuticals. Templeton owns a 9.5% stake in Taro and alleges that Taro’s management was pushing Taro into insolvency and trampling the rights of minority shareholders in order to sell the company.

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