April 16, 2015 | Comverse and Indian company Tech Mahindra have signed a $150-200 million deal to establish a research and development center in Israel. “Engineering is a very large part of our business but we want to make it even bigger. We believe it can be a billion dollars annually in the next few years,” said Manish Vyas, President of Tech Mahindra’s communications group. “Given the culture of entrepreneurship in Israel we need to be here,” he continued . According to the agreement, Tech Mahindra will be responsible for R&D and customer services and Comverse will be responsible for product management and sales. Comverse was founded in 1982 in Israel by Kobi Alexander, Boaz Misholi and Yechiam Yemini.