Amdocs (NYSE:DOX) has decided to expand its activity in Cyprus. The billing and customer-care software giant is negotiating to build a 40,000-square meter complex in Limassol, at an investment of $50 million, reports Yedioth Ahronoth.

Amdocs is negotiating with Cypriot building company Cybarco, which was previously owned by the Israeli building corporation Solel Boneh.

Cybarco said that the deal is to construct a facility that Amdocs will lease at $13 per square meter for a five-year period. Amdocs will have an option to extend the lease for five more years.

Amdocs already employs 600 people in Cyprus at three office sites.