Magic Software Enterprises Ltd. (NASDAQ: MGIC), a leading provider of cloud and on-premise application platform and business integration solutions, announced today that it was notified by the Tel-Aviv Stock Exchange (TASE) that its shares will be included on the Mid-Cap 50 Index as of December 15, 2010. Inclusion in this exclusive index places Magic Software amongst the top 150 most valuable companies listed on the TASE.
The Mid-Cap 50 Index was launched on July 1st, 2007. It includes the 50 shares with the highest market capitalization (amongst other criteria determined by the TASE) that are not included in the TASE-100 index (100 companies in Israel with the highest market capitalization). TASE is the only public market for trading securities in Israel, playing a major part in Israel’s economy. TASE lists approximately 610 companies.
About Magic Software
Magic Software Enterprises Ltd. (NASDAQ: MGIC) is a global provider of cloud and on-premise application platform solutions – including full client, rich internet applications (RIA), mobile and Software-as-a-Service (SaaS) modes – and business and process integration solutions. Magic Software has 13 offices worldwide and a presence in over 50 countries with a global network of ISVs, system integrators, value-added distributors and resellers, as well as 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 www.magicsoftware.com, and for more about Magic Softwarwe industry-related news, business issues and trends, read the Magic Software Blog.
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.
Amit Birk, General Counsel and VP M&A
Magic Software Enterprises Ltd.