Magic Software Enterprises Ltd. (NASDAQ: MGIC), a global provider of cloud and on-premise application platform and business integration solutions, today announced that, following its acquisition in January 2011 of a controlling share in its South African distributor, Magix Integration, it has taken up the option to acquire additional shares and thereby increase its holding in the company to 75%.
Commenting on the acquisition, Guy Bernstein, acting Chief Executive Officer of Magic Software, said, “Since completing our acquisition of a controlling share in Magix Integration, and having successfully integrated the company into our organizational infrastructure and operations, we have seen a continuous rise in demand for our application development and integration platforms in both the public and financial sectors in South Africa. Therefore, we are happy to reaffirm our faith in the great potential for future growth in this market by substantially increasing our share holdings in Magix Integration.”
About Magix Integration
Magix Integration specializes in Software Integration and Application Development. Magix Integration is able to provide solutions to complex and large-scale software requirements through a combination of software tools and disciplines. Magic Integration strives to listen to client needs, provide value at every step of the engagement process, and solve problems with innovation and simplicity.
About Magic Software Enterprises
Magic Software Enterprises Ltd. (For more information, visit www.magicsoftware.com.
Except for any historical information contained herein, the matters discussed in this press release include forward-looking statements that might involve a number of risks and uncertainties. Actual results might 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 locally and abroad, release and sales of new products by strategic resellers and customers, and other risk factors detailed in Magic’s most recent annual report and other filings with the Securities and Exchange Commission.
Magic is a registered trademark of Magic Software Enterprises Ltd. All other product and company names mentioned herein are for identification purposes only and are the property of, and might be trademarks of, their respective owners.
Tania Amar, VP Global Marketing
Magic Software Enterprises