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| Formula Systems (1985) Ltd. is the holding and managing company of a
group of mature software companies, providing mission-critical information
technology (IT) solutions to the global marketplace. Formula companies
provide IT solutions in Israel and internationally, implementing
proprietary software products, turnkey projects and systems development
services, as well as software distribution and support. Software developed
by Formula companies is implemented at blue-chip customers worldwide.
Formula Systems' subsidiaries and affiliated companies, provide IT
solutions on the domestic and international markets. The Company's
subsidiaries comprise Magic Software Enterprises, Crystal Systems
Solutions Ltd., Matrix-IT Ltd. (71.2% owned), New-Applicom, Sivan, Sintec
Advanced Technologies, nextSource, Liraz Systems and Sapiens International
Corporation. In November 2002, the Company sold its interests in New
Applicom, Sintec Advanced Technologies and Sivan to Matrix-IT Ltd. |
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