Formula Systems Snapshot
Formula Systems mixes ingredients for high-tech remedies. The holding company owns controlling stakes of at least 50% in three publicly traded software companies -- Magic Software, Matrix IT, and Sapiens International -- all based in Israel. The companies develop and distribute software used in the financial, insurance, manufacturing, telecom, and technology industries. Formula Systems also provides consulting services, systems integration, and operates computer training schools. In November 2010 Israel telecom provider Emblaze sold its 50% stake in Formula Systems for $139 million to Asseco Poland, Poland's largest IT company.
