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 has completed 4 funding rounds and was acquired by Formula Group in January 1998. In December 2025, Magic Software Enterprises is set to merge with Matrix, creating a significant IT entity.

Business overview

Magic Software Enterprises delivers enterprise-grade application development, business process integration software, and smart manufacturing solutions. The company provides a broad range of software for IT services, enabling 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 improve business outcomes. Magic Software Enterprises serves various industries, including telecommunications, municipalities, and cybersecurity organizations, with scalable and platform-agnostic products that support high-level language development and cross-platform functionality.

Strategic signal

In December 2025, Magic Software Enterprises is scheduled to complete a merger with Matrix, a move that will create one of the largest publicly-traded IT companies globally. This strategic consolidation is expected to accelerate acquisitions and future growth, signaling a significant expansion and market leadership ambition in the IT services sector.

Company Intelligence Q&A

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

In December 2025, Magic Software Enterprises is set to complete a merger with Matrix. This transaction is expected to create the eighth largest publicly-traded IT company in the US and the third largest in Europe, with a combined market capitalization of NIS 7.7 billion.

When did Magic Software Enterprises report its fourth quarter and full year 2022 financial results?

In March 2023, Magic Software Enterprises reported its fourth quarter and full year 2022 financial results, achieving record-breaking results across key financial indices including revenues, gross profit, operating income, and net income.

When did Magic Software Enterprises acquire Appush?

In August 2022, Magic Software Enterprises acquired Appush, a company focused on mobile application development.

When did Magic Software Enterprises report its third quarter 2022 earnings?

In November 2022, Magic Software Enterprises reported its third quarter 2022 earnings, with revenues beating expectations and EPS in line. The company achieved record-breaking revenues of $144 million, reflecting a 19% year-over-year growth, and net income reached $11.5 million, a 53% year-over-year increase.

When did Magic Software Enterprises launch a solution for Industry 4.0?

In May 2021, Magic Software Enterprises launched a solution designed to help small and mid-sized factories integrate into the Industry 4.0 revolution.