United States

Profile: Formula Systems 1985 Ltd (FORTY.OQ)

FORTY.OQ on NASDAQ Stock Exchange Global Select Market

23 May 2019
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Formula Systems (1985) Ltd. (Formula), incorporated on April 2, 1985, is a global information technology (IT) solutions and services holding company. The Company, through its directly held subsidiary and affiliated companies, is engaged in providing software solutions and services, software product marketing and support, computer infrastructure and integration solutions, and learning and integration. The Company operates through two segments: software services and IT professional services. The software services segment develops, markets, sells and supports an application platform, software applications, business and process integration solutions, and related services. The IT professional services segment offers IT services in the areas of infrastructure design and delivery, application development, technology planning and implementation services, communications services and solutions, as well as supplemental outsourcing services. It operates through its subsidiaries, which include Matrix IT Ltd. (Matrix) and InSync Staffing Solutions, Inc. (InSync), and through its affiliated companies, such as Sapiens International Corporation N.V. (Sapiens), Magic Software Enterprises Ltd. (Magic Software) and TSG Advanced IT Systems, Ltd. (TSG).


Matrix is an integration and information technology services company. Matrix provides IT services to various customers in the Israeli market. Matrix also markets in Israel software and hardware products manufactured by a range of international manufacturers. Matrix operates through its directly and indirectly held subsidiaries in the various areas, such as software solutions and services-Israel; software solutions and services-the United States; software product marketing and support; computer infrastructure and integration solutions, and learning and integration. Matrix's primary activities in the software solutions and services - Israel include development of software systems and service, including integration projects of systems and software, outsourcing, management of software projects, testing of developed technology, quality assurance and software services. In software solutions and services-the United States, Matrix provides solutions and services in the area of governance risk and compliance (GRC), including activities in various areas, such as risk management, fraud management, anti-money laundering and regulatory compliance security in these areas.

Matrix activities in software product marketing and support area include marketing and support for various software products (originated outside of Israel) and providing support for these products to customers, including marketing and support of products. Matrix's activities in computer infrastructure and integration solutions area consist of providing computer and telecommunication infrastructure solutions; selling and marketing personal computers, portable computers, Intel servers, peripheral equipment, operating systems, servers and workstations to business customers, and selling and marketing cloud-based solutions (under the CloudZone division). Matrix's activities in learning and integration area consist of operating a network of training centers, which provide courses for professionals, courses for developers and professional training, and soft skills and management training, and providing training and instructions with respect to computer systems.

Matrix provides solutions, services and products primarily to various market sectors (or verticals), such as banking, finance and insurance, commerce, manufacturing, government, defense telecommunications, healthcare, and the public and security forces sector. In the context of its offshore/nearshore activities, Matrix conducts IT-related activities, including content development, quality assurance, maintenance, customer call center services indexing and related activities. Matrix's customers include large and medium size enterprises in Israel, including commercial banks, loan and mortgage banks, telecommunications services providers, cellular operators, credit card companies, leasing companies, insurance companies, security agencies, startups, the Israeli Defense Forces and government ministries, public agencies, media and publishing entities.


InSync is a supplier of employees to Vendor Management Systems (VMS) Workforce Management Program accounts. InSync is engaged in providing professionals in various areas, such as accounting and finance, administrative, customer service, clinical, scientific and healthcare, engineering, manufacturing and operations, human resources, IT technology, and marketing and sales. InSync supports over 30 VMS program customers with employees in over 40 states.


Sapiens is a provider of software solutions for the insurance industry, with a focus on the financial services sector. Sapiens offers software solutions for providers of property and casualty/general insurance (P&C), and life, annuities and pensions, and annuities, enabling its customers to manage their business functions, including policy administration, claims management and billing. Sapiens also supplies record-keeping software solutions for providers of retirement services and reinsurance. Sapiens offers a platform that enables its customers to deploy business logic and comply with policies and regulations across their organizations. Sapiens also offers services to insurance providers and financial institutions across the globe, including consulting, migration, project delivery and implementation of its solutions. Sapiens' offering comprises of software solutions for the insurance industry with a presence in the financial services sector, and global services, including project delivery and implementation of its solutions. Sapiens' technology-based solutions include application development and business decision management platforms.

Sapiens ALIS is a software solution for individual, group and worksite insurance products. ALIS provides support for the policy lifecycle of all life insurance products from quotation and illustrations, through underwriting, insurance billing and servicing up to the claims management and exit processing. Sapiens Retirement is an end-to-end packaged software solution for record-keeping management for defined contribution record-keeping providers. Sapiens Closed Books is a solution for life and pension insurance companies that enables them to administer policies and claims relating to closed books of business. Sapiens TOPAZ is offered in the Israeli market, enabling life and pension carriers in Israel to handle a range of activities and regulations in the Israeli market. Sapiens Insight for P&C is a software solution used by carriers that works on IBM System z (mainframe) and System i platforms.

Sapiens IDIT is a component-based software solution, addressing the specific needs of general insurance carriers for traditional insurance, direct insurance, bancassurance and brokers markets, primarily in Europe and Asia-Pacific. Sapiens Reinsurance is a business and accounting solution designed to support a range of reinsurance contracts and activities, both ceded and assumed, for all lines of business. Sapiens DECISION is a business decision management solution that enforces business logic across all enterprise applications. Sapiens DECISION allows the reusability and governance of business logic across all business divisions and software applications, using any rules engine or business process management system. Sapiens is focused on the development and marketing of Sapiens DECISION in the financial services market in North America and Western Europe. Sapiens eMerge is a rules-based, model-driven architecture that enables the creation of tailor-made enterprise applications.

Magic Software

Magic Software is a provider of application development and business process integration platforms, selected vertical software solutions and related professional services, as well as a vendor of IT professional and outsourcing services. Magic Software's software technology is used by customers to develop, deploy and integrate on premise, mobile and cloud-based business applications. In addition, Magic Software's technology enables enterprises to manage the process of delivering business solutions that meet the needs and allow customers to manage their business performance and return on investment. Magic Software also offers a portfolio of professional services in the areas of infrastructure design and delivery, application development, technology consulting, planning and implementation services, support services and supplemental outsourcing services. In addition, Magic Software offers a range of packaged software solutions through certain of its subsidiaries.

Magic Software's software platforms consist of Magic xpa, an application platform for developing and deploying business applications; AppBuilder Application Platform, an application platform for building, deploying, and maintaining mainframe-grade business applications, and Magic xpi, a platform for application integration. Magic Software's vertical software solutions include Leap, a software solution for business support systems, including convergent charging, billing, customer management, policy control and payment software solutions for the telecommunications, content and other industries; Hermes Solution, a software solution for both hubs and traditional air cargo ground handling operations; HR Pulse, a customizable single-tenant software as a service (SaaS) tool that helps organizations to monitor employee performance, progress and potential, and MBS Solution, a system for managing television broadcast channels.

Magic Software's IT services offerings consist of a range of professional services that can be grouped into integration and other IT services. Magic Software's integration services include infrastructure analysis, design and delivery; technology consulting and implementation services, and application development. Magic Software conducts formal and organized training on its development tools. Magic Software develops courses, pertaining to its principal products, Magic xpa and Magic xpi, and provides trainer and student guidebooks. Magic Software also provides a range of IT consulting services in the areas of infrastructure design and delivery, application development, technology planning and implementation services, as well as supplemental staffing services.


TSG is a technology company engaged in technical solutions for protecting the safety of national borders, managing data gathering mechanisms and communications channels for military, homeland security and civilian organizations. TSG operates primarily in the defense and homeland security arenas. TSG's offerings include command and control solutions; intelligence, surveillance and knowledge management solutions; telecommunication and IT management solutions; cyber security solutions and services; homeland security solutions (HLS) and supporting tools. TSG offers command and control solutions that support military and civilian sectors on land, air and sea. TSG provides a range of command and control solutions ranging from strategic battlefield management to tactical and special operations forces.

TSG Intelligence solutions for security agencies and defense forces meet the demand for intelligence, based on multiple sources and sensors. TSG's technologies cover the life-cycle of intelligence from acquisition to fusion, analysis, distribution and target management, among others. TSG's Knowledge Management solutions provide public sector bodies with the capacity to manage their organizational data, support decision making and follow-up. TSG is engaged in developing and integrating telecommunications and IT solutions and tools, such as Operations Support Systems (OSS), Contact Centers, Back Office Optimization and Value-Added Services (VAS). TSG provides security services and solutions to government and private sectors, including secure critical infrastructure and financial institutions in cyber space. TSG provide its clients with technologies ranging from emergency management and chemical, biological, radiological and nuclear defense (CBRN) systems, to rescue and special operations, and city solutions. TSG offers a range of supporting system and solutions, providing customizable applications for in various verticals, such as facility management, recording and debriefing systems, trainers and simulators, and mapping engines.

The Company competes with One-1, Taldor Computer Systems, Malam-Team, Hilan Ltd., Aman, the Elad Group, Yael, SQLink, Emet, LogOn, HMS, OfficeSoft, Microsoft, IBM, HP, Oracle, CA, Ness Technologies, IITC, HackerU, Sela, Kony, Adobe, SAP Sybase, Pegasystems, Informatica, TIBCO, Software AG, Amdocs, Ericsson, Comverse, NetCracker Technology, CSG Systems, Redknee Solutions, Comarch, Mind CTI, Tecnotree, Cerillion, Openet and Elitcore.

Company Address

Formula Systems 1985 Ltd

5 HaPlada st.
OR YEHUDA     6021805
P: +9723.5389487
F: +9723.5389645

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