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Activist Investor Starboard Calls for 'Substantial Change' at Israel's Mellanox

The Times of Israel

In a letter to Israel’s Mellanox Technologies Ltd., activist investor Starboard Value LP, which is the company’s largest shareholder, attributed the firm’s underperformance compared to other semiconductor companies to “weak execution,” “excessive spending” and “missed growth opportunities.” Starboard, a New York-based investment adviser that invests in publicly traded US companies, in November acquired a 10.7 percent stake in the Israeli maker of servers and storage switching solutions, in a bid to turn around its fortunes. “We invested in Mellanox because we believe the company is deeply undervalued and there are significant opportunities to create value based ...

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