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Exhibit 8

# Subsidiaries

Currently our subsidiaries are:

| |  | TTI
Team Telecom International Inc., a wholly-owned subsidiary, incorporated under the laws
of the State of            Delaware, and domiciled in New Jersey, U.S.A.
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | TTI
Team Telecom International B.V., a wholly-owned subsidiary, incorporated under the laws
of The Netherlands, and domiciled in Amsterdam, The Netherlands.
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | TTI
Telecom Australia PTY. Ltd., a wholly-owned subsidiary, incorporated under the laws of
Australia, and            domiciled in Sydney, Australia.
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------

| |  | Axarte
Ltd., a wholly-owned subsidiary, incorporated under the laws of the United Kingdom, and
domiciled in            Newberry, UK.
| | - | ------------------------------------------------------------------------------------------------------------------------------------

| |  | TTI
Telecom (HK) Limited, a 99.9% subsidiary, incorporated under the laws of Hong Kong, and
domiciled in Hong Kong.
| | - | -------------------------------------------------------------------------------------------------------------------

| |  | TTI
Team Telecom Software Private Limited, a 99.9% subsidiary, incorporated under the laws of
India, and domiciled in Mumbai, India.
| | - | ------------------------------------------------------------------------------------------------------------------------------------

| |  | TTI
Telecom de Costa Rica S.A., a wholly owned subsidiary, incorporated under the laws of
Costa Rica, and domiciled in San Jose, Costa Rica.
| | - | --------------------------------------------------------------------------------------------------------------------------------------------

| |  | TTI
Team Software (Malta) Ltd., a 99.9% subsidiary, incorporated under the laws of Malta, and
domiciled in Valleta, Malta.
| | - | --------------------------------------------------------------------------------------------------------------------------

| |  | CDR
Technologies Ltd., a 99% subsidiary, incorporated under the laws of Israel, and domiciled
in Rosh Haayin, Israel.
| | - | ----------------------------------------------------------------------------------------------------------------------

| |  | TTI
Telecom (Africa) (Pty) Ltd, incorporated under the law of South Africa, and domiciled in
Pretoria, South Africa. We hold 70% of the equity interests of TTI Telecom (Africa) (Pty)
Ltd.
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | Telesens
LLC, a wholly owned subsidiary, incorporated under the law of Ukraine, and domiciled in
Kharkiv, Ukraine.
| | - | ------------------------------------------------------------------------------------------------------------------

* The percentage of equity ownership
of any such subsidiary equals to our voting power therein, unless specified otherwise.



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