Formula Systems (1985) (NASDAQ:FORTY) is an Israel-based holding company that operates through a group of technology and information-services businesses. Rather than developing a single product line, Formula Systems invests in and manages companies that provide software, consulting, systems integration, information technology services and other enterprise technology solutions.
Its principal subsidiaries include Matrix IT, a provider of information technology services, consulting, outsourcing, systems integration and training; Sapiens International, which develops software platforms and solutions for the insurance industry; and Magic Software Enterprises, which provides application development, digital transformation, integration, cloud and information technology services. These businesses serve customers across industries including financial services, insurance, government, healthcare, manufacturing and other commercial markets.
Founded in 1985, Formula Systems is headquartered in Israel and has operations and customers in Israel, North America, Europe and other international markets through its subsidiaries. The company’s shares trade on the Nasdaq Capital Market under the symbol FORTY and on the Tel Aviv Stock Exchange. Formula Systems is part of the broader Asseco group, a European provider of software and information technology solutions.
