Magic ( (MGIC) ) has shared an announcement.
On March 11, 2025, Magic Software Enterprises Ltd. announced a Memorandum of Understanding (MOU) for a proposed merger with Matrix I.T Ltd., a leading Israeli IT services company. The merger, structured as a reverse triangular merger, will result in Magic becoming a private subsidiary of Matrix, with Magic’s shareholders receiving Matrix shares. The combined entity is expected to have a market value of $2.1 billion, operate in 50 countries, and employ over 15,000 people. The merger aims to enhance market position, expand geographic reach, and diversify product offerings, creating significant benefits for stakeholders through operational synergies and a strengthened financial profile.
More about Magic
Magic Software Enterprises Ltd. is a global provider of IT consulting services and end-to-end integration and application development platform solutions. The company focuses on delivering low-code/no-code application development, business process integration platforms, software solutions, and IT outsourcing services.
YTD Price Performance: 8.07%
Average Trading Volume: 45,660
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $630.9M
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