MAGIC SOFTWARE ENTERPRISES

About the Company Magic Software Enterprises (MSE) is a global player in the software market, with annual revenues of more than $75 million. MSE has around 700 employees worldwide, including approximately 150 employees in research and development of current and future technology. MSE's customers include thousands of ISVs or Magic Solution Providers (MSPs) and enterprises in approximately 50 countries, supported through Magic's global network of branches and distributors. Magic Software also provides related consulting and professional services, education, and technical support. Magic Software is a subsidiary of Formula Systems Ltd (Nasdaq: FORTY), Israel's largest publicly traded software group. Formula Systems Ltd., is a global information technology company principally engaged, through its subsidiaries and affiliates, in providing software consulting services, developing proprietary software products and providing computer-based business solutions.