Magic Software Enterprises

Magic Software Enterprises

Type	Public
Traded as	NASDAQ: MGIC TASE: MGIC
Industry	Software
Founded	1983 (1983)
Founder	David Assia, Yaki Dunietz
Headquarters	Or Yehuda, Israel
Key people	Guy Bernstein, CEO Eyal Pfeifel, CTO
Products	xpa Application Platform xpi Integration Platform
Revenue	US$145.0 million (2013)
Operating income	US$19.1 million (2013)
Net income	US$15.9 million (2013)
Number of employees	978
Parent	Formula Systems (1985) Ltd.
Website	www.magicsoftware.com
Footnotes / references ^[1]

Magic Software Enterprises (NASDAQ: MGIC) is a global provider of software platforms for enterprise mobility, cloud applications, and business integration. Magic is listed on the NASDAQ Global Select Market and the Tel Aviv Stock Exchange TA-100 Index.

History

Magic Software Enterprises was founded in 1983 by David Assia and Yaki Dunietz as a spin-off from Mashov Computers, a publicly traded Israeli company that provided business solutions on microcomputers. The new company was originally named Mashov Software Export (MSE), and developed software for the global market, specifically an application generator named Magic.

Mashov’s major innovation was a metadata-driven approach to programming that required no compiling or linking, and also allowed instantaneous debugging. During the 1980s, the company grew based on its sales to the DOS and UNIX platforms. The product was used by many large organizations, including the Israel Defense Forces.

In 1991, the company changed its name to Magic Software Enterprises (retaining the acronym: MSE) and became the first Israeli software company to go public on the NASDAQ. ^[2] During this period the company developed a close relationship with IBM, focusing on AS/400 systems. In mid-1995, the first version of Magic for Windows was released.

In 1998, Magic was acquired by the Formula Group, headed by Dan Goldstein. In the following years, the company experienced rapid growth in sales and profits, and in a secondary share offering in February 2000, it raised over $100 million, and traded at a company valuation of $1 billion.

In 2001, Magic released eDeveloper(Rohan), a graphical, rules-based, and event-driven framework that offered a pre-compiled engine for database business tasks and a wide variety of generic runtime services and functions.

In October 2003, Magic released the iBOLT integration platform, and in July 2008, it released the first version of the uniPaaS application platform, replacing eDeveloper.

In 2011, Magic released a .NET version of uniPaaS, and launched a new offering for enterprise mobility.

In May 2012, Magic launched a major company-wide rebranding, including a new logo and tagline and a restyled website. uniPaaS was renamed Magic xpa Application Platform and iBOLT was renamed Magic xpi Integration Platform.

Global Presence

Magic has a presence in more than 50 countries, with corporate headquarters and R&D facility in Or Yehuda, Israel.

Unified Technology Stack

Magic’s business-centric offering includes a unified technology stack, comprising two instances based on a single metadata paradigm: Magic xpa for business logic development and multichannel delivery; and Magic xpi for workflow management and certified access to multiple back-end systems.

References

External links

TA 100 companies of the Tel Aviv Stock Exchange

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