Shares in Israeli security company Magal Security Systems Ltd. (USA) (NASDAQ: MAGS) closed up over 17% today on the news that the company has signed a series of deals worth over $45 million. This is huge for a company with a market-cap of $74 million.

Magal develops, manufactures and markets computerized security systems, which automatically detect, locate and identify the nature of unauthorized intrusions. The products are used to protect national borders, airports, correctional facilities, nuclear power stations, and other sensitive facilities from terrorism, theft and other threats.

Magal stock was down almost 60% until last week, when a bottom seems to have been hit. Over the last week the stock has surged almost 40%. This little Israeli company is at the forefront of the physical security space, and with what appears to be a very strong pipeline, Magal looks very interesting going forward.

Aaron Katsman is the lead Portfolio Manager and Managing Director of America Israel Investment Associates, LLC, and Senior Editor of IsraelNewsletter.com. DISCLOSURE: Writer's fund has a position and owns stock in MAGS and is long the stock. He has no positions in any other stock mentioned as of 1/30/08.