Magic Software Enterprises Ltd. (NASDAQ: MGIC), a global provider of application platformsand business and process integration solutions, today announced its inclusion in the Software Magazine’s Software 500 ranking of the world’s largest software and service providers, now in its 27th year. Magic Software was ranked 250, with software revenue of $62 million and a 6.1 percent growth rate.
The Software 500 is a revenue-based ranking of the world’s largest software and services suppliers, targeting medium to large enterprises, their IT professionals, software developers and business managers involved in software and services purchasing.
“The 2009 Software 500 is created to help CIOs, senior IT managers and IT staff research and create a short list of business partners,” says John P. Desmond, editor of Software Magazine and Softwaremag.com. “The results show that revenue growth in the software and services industry was healthy, with total Software 500 revenue of $491.3 billion worldwide for 2008 representing 8.8% growth from the previous year.”
Magic Software’s high ranking is attributed to the increasing awareness and demand for its application platform; uniPaaS, and the company’s code-free iBOLT business and process integration suite. Demand for the iBOLT suite has led Magic Software to increase its range of adaptors to fit a number of new applications, including SAP, Salesforce.com, Lotus Notes, HL7, IBM i, and JD Edwards. The company also recently announced the latest version of the uniPaaS application platform, version 1.8, supporting .NET integration for Rich Internet Applications, SaaS and mobile devices.
“Magic Software’s ranking in the Software 500 is validation of our continued growth and commitment to enabling enterprises and Independent Software Vendors (ISVs) to easily and cost-effectively develop, deploy and integrate business applications that fit their specific needs,” says Regev Yativ, president and CEO of Magic Software Enterprises Americas. “Our success is a result of our ability to offer agile solutions that conserve resources, deliver value and adjust to the specific needs of organizations looking to incorporate solutions into their existing business and technology processes.”
The ranking is based on total worldwide software and services revenue for 2008. This includes revenues from software licenses, maintenance and support, training and software-related services and consulting. Suppliers are not ranked on their total corporate revenue, since many have other lines of business, such as hardware. The financial information was gathered by a survey prepared by King Content Co. and posted at http://www.softwaremag.com/, as well as from public documents.
About Digital Software Magazine, the Software Decision Journal, and Softwaremag.com
Digital Software Magazine, the Software Decision Journal, has been a brand name in the high-tech industry for 30 years. Softwaremag.com, its Web counterpart, is the online catalog to enterprise software and the home of the Software 500 ranking of the world’s largest software and services companies. Software Magazine and Softwaremag.com are owned and operated by King Content Co.
About Magic Software
Magic Software Enterprises Ltd. (NASDAQ: MGIC) is a leading provider of multiple-mode application platform solutions – including Full Client, Rich Internet Applications (RIA) or Software as a Service (SaaS) modes – and business and process integration solutions. Magic Software has offices in 10 countries and a presence in more than 50, as well as a global network of ISV’s, system integrators, value-added distributors and resellers, and consulting and OEM partners. The company’s award-winning code-free solutions give partners and customers the power to leverage existing IT resources, enhance business agility and focus on core business priorities. Magic Software’s technological approach, product roadmap and corporate strategy are recognized by leading industry analysts. Magic Software has partnerships with global IT leaders including SAP AG, salesforce.com, IBM and Oracle. For more information about Magic Software and its products and services, visit http://www.magicsoftware.com/, and for more about our industry related news, business issues and trends, read the Magic Software Blog.
Except for the historical information contained herein, the matters discussed in this news release include forward-looking statements that may involve a number of risks and uncertainties. Actual results may vary significantly based upon a number of factors including, but not limited to, risks in product and technology development, market acceptance of new products and continuing product conditions, both here and abroad, release and sales of new products by strategic resellers and customers, and other risk factors detailed in the Company’s most recent annual report and other filings with the Securities and Exchange Commission.
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