Magic Software Enterprises

Company Overview

Snapshot

Founded in January 1983 by David Assia and Yaki Dunietz, Magic Software Enterprises operates with 201–500 employees. The company was acquired by Formula Group in January 1998.

Business overview

Magic Software Enterprises delivers enterprise-grade application development, business process integration software, and smart manufacturing solutions. The company's scalable and platform-agnostic software enables businesses to develop, deploy, and integrate on-premises, mobile, and cloud-based applications efficiently. Its Industry 4.0 solution combines software technologies with integration and manufacturing expertise to enhance business outcomes. Magic Software Enterprises also provides IT services including planning, management, and consulting for large-scale infrastructures, application development, and technology implementation projects for telecommunications companies, municipalities, and cyber-security organizations. The company serves various markets, including healthcare providers, manufacturing facilities, and retailers.

Strategic signal

In February 2026, Magic Software Enterprises was acquired by Matrix, becoming a wholly-owned subsidiary. This merger, which was announced nearly a year prior, led to Magic's delisting from both the Tel Aviv Stock Exchange and NASDAQ, concluding its 35-year trading history. The combined entity is expected to leverage technological and operational synergies, signaling a strategic consolidation within the Israeli IT sector and a significant shift in Magic Software Enterprises' operational structure.

Company Intelligence Q&A

What was a significant recent corporate development for Magic Software Enterprises?

In February 2026, Magic Software Enterprises was acquired by Matrix, becoming a wholly-owned subsidiary. This merger resulted in Magic's delisting from the Tel Aviv Stock Exchange and NASDAQ.

What was the valuation of the merger between Matrix and Magic Software Enterprises?

In December 2025, the merger between Matrix and Magic Software Enterprises was expected to result in a combined valuation exceeding NIS 13 billion ($4 billion).

When did Magic Software Enterprises acquire Appush?

In August 2022, Magic Software Enterprises acquired Appush, an Israeli startup specializing in a platform connecting advertisers with mobile gaming publishers.

What product did Magic Software Enterprises launch in May 2021?

In May 2021, Magic Software Enterprises launched FactoryEye, an Industry 4.0 solution designed to help small and mid-sized factories increase productivity and efficiency by collecting real-time data from existing machinery and operational systems.

What was Magic Software Enterprises' financial performance in Q4 2022?

In March 2023, Magic Software Enterprises reported its Q4 2022 financial results, with revenues increasing by 10.6% year-over-year to approximately $147.1 million, exceeding market expectations. The company achieved record-breaking revenues exceeding $500 million for the full year 2022.