SCOP Scopus Video Networks Ltd Ord (MM)

CUSIP Nos. M8260H106 PAGE 2 OF 12


------------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 Altairis Investments
------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 (a) [ ]
 (b) [X]
------------------------------------------------------------------------------
(3) SEC USE ONLY
------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
 Canada
------------------------------------------------------------------------------

NUMBER OF (5) SOLE VOTING POWER
 -0-
SHARES ____________________________________________________________

BENEFICIALLY (6) SHARED VOTING POWER
 -0-
OWNED BY ____________________________________________________________

EACH (7) SOLE DISPOSITIVE POWER
 -0-
REPORTING ____________________________________________________________

PERSON WITH (8) SHARED DISPOSITIVE POWER
 -0-
------------------------------------------------------------------------------
 (9) AGGREGATE AMOUNT BENEFICIALLY OWNED
 BY EACH REPORTING PERSON
 -0-
------------------------------------------------------------------------------
 (10) CHECK BOX IF THE AGGREGATE AMOUNT
 IN ROW (9) EXCLUDES CERTAIN SHARES
 [ ]
------------------------------------------------------------------------------
 (11) PERCENT OF CLASS REPRESENTED
 BY AMOUNT IN ROW (9)
 -0%-
------------------------------------------------------------------------------
 (12) TYPE OF REPORTING PERSON
 PN
------------------------------------------------------------------------------

CUSIP Nos. M8260H106 PAGE 3 OF 12


------------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 Altairis Offshore
------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 (a) [ ]
 (b) [X]
------------------------------------------------------------------------------
(3) SEC USE ONLY
------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
 Cayman Islands
------------------------------------------------------------------------------

NUMBER OF (5) SOLE VOTING POWER
 -0-
SHARES ____________________________________________________________

BENEFICIALLY (6) SHARED VOTING POWER
 -392,460-
OWNED BY ____________________________________________________________

EACH (7) SOLE DISPOSITIVE POWER
 -0-
REPORTING ____________________________________________________________

PERSON WITH (8) SHARED DISPOSITIVE POWER
 -392,460-
------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
 BY EACH REPORTING PERSON
 -392,460-
------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
 IN ROW (9) EXCLUDES CERTAIN SHARES
 [ ]
------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
 BY AMOUNT IN ROW (9)
 -2.8%-
------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON
 CO
------------------------------------------------------------------------------

CUSIP Nos. M8260H106 PAGE 4 OF 12


------------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 Altairis Offshore Levered
------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 (a) [ ]
 (b) [X]
------------------------------------------------------------------------------
(3) SEC USE ONLY
------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
 Cayman Islands
------------------------------------------------------------------------------

NUMBER OF (5) SOLE VOTING POWER
 -0-
SHARES ____________________________________________________________

BENEFICIALLY (6) SHARED VOTING POWER
 -757,990-
OWNED BY ____________________________________________________________

EACH (7) SOLE DISPOSITIVE POWER
 -0-
REPORTING ____________________________________________________________

PERSON WITH (8) SHARED DISPOSITIVE POWER
 -757,990-
------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
 BY EACH REPORTING PERSON
 -757,990-
------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
 IN ROW (9) EXCLUDES CERTAIN SHARES
 [ ]
------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
 BY AMOUNT IN ROW (9)
 -5.4%-
------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON
 CO
------------------------------------------------------------------------------

CUSIP Nos. M8260H106 PAGE 5 OF 12


------------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 Polar Securities Inc.
------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 (a) [ ]
 (b) [X]
------------------------------------------------------------------------------
(3) SEC USE ONLY
------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
 Canada
------------------------------------------------------------------------------

NUMBER OF (5) SOLE VOTING POWER
 -0-
SHARES
 ------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
 -1,150,450-
OWNED BY ____________________________________________________________

EACH (7) SOLE DISPOSITIVE POWER
 -0-
REPORTING ____________________________________________________________

PERSON WITH (8) SHARED DISPOSITIVE POWER
 -1,150,450-
------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
 BY EACH REPORTING PERSON
 -1,150,450-
------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
 IN ROW (9) EXCLUDES CERTAIN SHARES
 [ ]
------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
 BY AMOUNT IN ROW (9)
 -8.2%-
------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON
 CO
------------------------------------------------------------------------------

CUSIP Nos. M8260H106 PAGE 6 OF 12

ITEM 1(a). NAME OF ISSUER:

 Scopus Video Networks Ltd. (the "Company")

ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

 10 Ha'amal Street
 Park-Afek
 Rosh-Haayin 48092
 Israel

ITEMS 2(a), 2(b) and 2(c). NAME OF PERSON FILING, ADDRESS OF PRINCIPAL
BUSINESS OFFICE AND CITIZENSHIP:

 This statement is filed by the entities and persons listed below, all of
whom together are referred to herein as the "Reporting Persons":

 (i) Altairis Investments, an Ontario limited partnership,
 with respect to the Shares reported in this Schedule
 13G/A directly owned by it.

 (ii) Altairis Offshore, a Cayman Islands exempted company,
 with respect to the Shares reported in this Schedule
 13G/A directly owned by it.

 (iii) Altairis Offshore Levered, a Cayman Islands exempted
 company, with respect to the Shares reported in this
 Schedule 13G/A directly owned by it.

 (iv) Polar Securities Inc. ("Polar Securities"), a company
 incorporated under the laws of Ontario, Canada, with
 respect to the Shares reported in this Schedule 13G/A
 directly owned by Altairis Investments, Altairis
 Offshore and Altairis Offshore Levered.

The citizenship of Altairis Investments, Altairis Offshore, Altairis Offshore
Levered and Polar Securities is set forth above.

The address of the principal business office of Altairis Offshore and Altairis
Offshore Levered is c/o Polar Securities Inc. 372 Bay Street, 21st floor,
Toronto, Ontario M5H 2W9, Canada. The address of the principal business office
of Altairis Investments is c/o Polar Fund Management II Inc., 372 Bay Street,
21st floor, Toronto, Ontario M5H 2W9, Canada. The address of the principal
business office of Polar Securities is 372 Bay Street, 21st floor, Toronto,
Ontario M5H 2W9, Canada.

CUSIP Nos. M8260H106 PAGE 7 OF 12

ITEM 2(d). TITLE OF CLASS OF SECURITIES: Ordinary Shares, par value NIS 1.40
per share (the "Shares")

ITEM 2(e). CUSIP NUMBER: M8260H106

ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO 13d-1(b) OR 13d-2(b) OR (c),
CHECK WHETHER THE PERSON FILING IS A:
 (a) [ ] Broker or dealer registered under Section 15 of the Act;

 (b) [ ] Bank as defined in Section 3(a)(6) of the Act;

 (c) [ ] Insurance Company as defined in Section 3(a)(19) of the
 Act;

 (d) [ ] Investment Company registered under Section 8 of the
 Investment Company Act of 1940;

 (e) [ ] Investment Adviser registered under Section 203 of the
 Investment Advisers Act of 1940: see Rule
 13d-1(b)(1)(ii)(E);

 (f) [ ] Employee Benefit Plan, Pension Fund which is subject to
 the provisions of the Employee Retirement Income
 Security Act of 1974 or Endowment Fund; see Rule
 13d-1(b)(1)(ii)(F);

 (g) [ ] Parent Holding Company, in accordance with
 Rule 13d-1(b)(ii)(G);

 (h) [ ] Savings Associations as defined in Section 3(b) of the
 Federal Deposit Insurance Act;

 (i) [ ] Church Plan that is excluded from the definition of an
 investment company under Section 3(c)(14) of the
 Investment Company Act of 1940;

 (j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).

 IF THIS STATEMENT IS FILED PURSUANT TO Rule 13d-1(c), CHECK THIS BOX. [x]

CUSIP Nos. M8260H106 PAGE 8 OF 12

ITEM 4. OWNERSHIP.

 Polar Securities Inc. serves as the investment manager to North Pole
Capital Master Fund, Altairis Investments, Altairis Offshore and Altairis
Offshore Levered with respect to which it has voting and dispositive authority
over some of the Shares reported in this Schedule 13G/A.

 Each of the Reporting Persons hereby disclaims any beneficial ownership of
any such Shares.

 A. Altairis Investments
 (a) Amount beneficially owned: 0

 (b) Percent of class: 0%. The percentages used herein and in the
 rest of Item 4 are calculated based upon the 13,990,530 Shares issued
 and outstanding as of June 30, 2008 as reported in the Company's
 6-K for the month of October 2008, filed on October 7, 2008.

 (c) Number of shares as to which such person has:

 (i) sole power to vote or to direct the vote: 0 Shares.

 (ii) shared power to vote or to direct the vote: 0 Shares.

 (iii) sole power to dispose or to direct the disposition
 of: 0 Shares.

 (iv) shared power to dispose or to direct the disposition
 of: 0 Shares

 B. Altairis Offshore
 (a) Amount beneficially owned: 392,460

 (b) Percent of class: 2.8%

 (c) Number of shares as to which such person has:

 (i) sole power to vote or to direct the vote: 0 Shares.

 (ii) shared power to vote or to direct the vote: 392,460 Shares.

 (iii) sole power to dispose or to direct the disposition
 of: 0 Shares.

 (iv) shared power to dispose or to direct the disposition
 of: 392,460 Shares.

CUSIP Nos. M8260H106 PAGE 9 OF 12

 C. Altairis Offshore Levered
 (a) Amount beneficially owned: 757,990

 (b) Percent of class: 5.4%

 (c) Number of shares as to which such person has:

 (i) sole power to vote or to direct the vote: 0 Shares.

 (ii) shared power to vote or to direct the vote: 757,990 Shares.

 (iii) sole power to dispose or to direct the disposition
 of: 0 Shares.

 (iv) shared power to dispose or to direct the disposition
 of: 757,990 Shares.

 D. Polar Securities Inc.
 (a) Amount beneficially owned: 1,150,450

 (b) Percent of class: 8.2%

 (c) Number of shares as to which such person has:

 (i) sole power to vote or to direct the vote: 0 Shares.

 (ii) shared power to vote or to direct the vote: 1,150,450 Shares.

 (iii) sole power to dispose or to direct the disposition
 of: 0 Shares.

 (iv) shared power to dispose or to direct the disposition
 of: 1,150,450 Shares.

ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.

 Not applicable.

ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.

 See item 4.

ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
 THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.

 Not applicable.

CUSIP Nos. M8260H106 PAGE 10 OF 12


ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.

 See Item 4.

ITEM 9. NOTICE OF DISSOLUTION OF GROUP.

 Not applicable.

ITEM 10. CERTIFICATION. (if filing pursuant to Rule 13d-1(c))

 Each of the Reporting Persons hereby makes the following certification:


By signing below each Reporting Person certifies that, to the best of its
knowledge and belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or influencing the
control of the issuer of the securities and were not acquired and not held in
connection with or as a participant in any transaction having that purpose or
effect.

CUSIP Nos. M8260H106 PAGE 11 OF 12


 SIGNATURES

 After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.


DATED: February 17, 2009 Altairis Investments
 By: Polar Securities Inc
 /s/ Paul Sabourin
 -----------------------------------
 Paul Sabourin
 Chief Executive Officer

 Altairis Offshore
 By: Polar Securities Inc
 /s/ Paul Sabourin
 -----------------------------------
 Paul Sabourin
 Chief Executive Officer

 Altairis Offshore Levered
 By: Polar Securities Inc
 /s/ Paul Sabourin
 -----------------------------------
 Paul Sabourin
 Chief Executive Officer

 Polar Securities Inc.
 /s/ Paul Sabourin
 -----------------------------------
 Paul Sabourin
 Chief Executive Officer

CUSIP Nos. M8260H106 PAGE 12 OF 12

 EXHIBIT 1
 JOINT ACQUISITION STATEMENT

 PURSUANT TO RULE 13d-1(k)

 The undersigned acknowledge and agree that the foregoing statement on
Schedule 13G/A, is filed on behalf of each of the undersigned and that all
subsequent amendments to this statement on Schedule 13G/A, shall be filed on
behalf of each of the undersigned without the necessity of filing additional
joint acquisition statements. The undersigned acknowledge that each shall be
responsible for the timely filing of such amendments, and for the completeness
and accuracy of the information concerning him or it contained therein, but
shall not be responsible for the completeness and accuracy of the information
concerning the others, except to the extent that he or it knows or has reason to
believe that such information is inaccurate.

DATED: February 17, 2009 Altairis Investments
 By: Polar Securities Inc
 /s/ Paul Sabourin
 -----------------------------------
 Paul Sabourin
 Chief Executive Officer

 Altairis Offshore
 By: Polar Securities Inc
 /s/ Paul Sabourin
 -----------------------------------
 Paul Sabourin
 Chief Executive Officer

 Altairis Offshore Levered
 By: Polar Securities Inc
 /s/ Paul Sabourin
 -----------------------------------
 Paul Sabourin
 Chief Executive Officer

 Polar Securities Inc.
 /s/ Paul Sabourin
 -----------------------------------
 Paul Sabourin
 Chief Executive Officer