Formula Systems (1985) Ltd is a global information technology company that delivers software consulting services computer based business solutions and develops proprietary software products through its investees. The company operates primarily in Israel and serves customers worldwide across sectors such as banking finance government healthcare transportation and education. Its strategy focuses on creating long term value by supporting the growth of its subsidiaries and…
Formula Systems (1985) Ltd is a global information technology company that delivers software consulting services computer based business solutions and develops proprietary software products through its investees. The company operates primarily in Israel and serves customers worldwide across sectors such as banking finance government healthcare transportation and education. Its strategy focuses on creating long term value by supporting the growth of its subsidiaries and pursuing complementary acquisitions.
Formula Systems (1985) Ltd generates revenue mainly through the fees earned by its subsidiaries for providing IT services software solutions outsourcing and cloud computing to clients. The subsidiaries offer services such as system integration software development digital transformation and managed services across industries including banking insurance public sector and high tech. Revenue is also derived from the sale of proprietary software platforms and related maintenance and support contracts.
The company operates through the following segments:
- Matrix provides IT solutions and services consulting and management in Israel cloud and computing infrastructure and sales marketing and support of software products serving customers in banking finance high tech industry government security transportation health and education sectors.
- Sapiens designs develops and markets proprietary software solutions for the insurance industry offering platforms for property and casualty life pension annuity reinsurance workers compensation medical professional liability financial compliance and decision management serving insurers and financial institutions worldwide.
- Magic Software delivers software services IT outsourcing proprietary application development business process integration platforms selected packaged vertical software solutions and cloud based services for end to end digital transformation to enterprises in approximately fifty countries.
- Michpal specializes in software development services human resources management recruitment platforms transportation operations management and cloud based accounting solutions serving customers primarily in Israel.
- Zap Group focuses on digital advertising solutions for domestic travel businesses providing social media services and digital branding for large enterprises.
- InSync provides staffing services for manufacturing distribution and call center industries placing talent for clients across the United States.
- Shamrad supplies integrates and installs computer communication infrastructures announcement and alarm systems and electronic security systems representing companies such as ATI systems Garrett metal detectors and Kopp ferro magnetic detectors for MRI rooms.
- Ofek Aerial Photography offers aerial imaging and photography services for mapping surveying and infrastructure projects serving government and commercial clients.
- Hashahar Telecom plans deploys and installs fiber optics structured cabling coaxial and telephony systems for enterprise residential and public sector projects working with clients such as Bezeq HOT Cellcom YES Israel Railways and multiple government bodies.
- TSG Systems provides technology solutions and services for the financial sector focusing on software development and IT consulting for banks and financial institutions.
- The company holds a 21.45 percent equity interest in an Israel based private technology company specializing in artificial intelligence powered product comparison and e commerce guidance platforms serving over forty million monthly users across more than twenty countries.
Formula Systems (1985) Ltd holds a strong position in the Israeli IT services market through its leading subsidiary Matrix which is recognized as a market leader in cloud cyber digital data DevOps and AI based solutions. The group competes with global IT services providers such as Tata Consultancy Services Infosys and Accenture as well as local software vendors like Check Point and Nice Systems. Its competitive advantage stems from the diversified portfolio of subsidiaries that offer complementary services enabling cross selling of solutions and providing a one stop shop for customers seeking end to end IT transformation.
Formula Systems (1985) Ltd serves a diverse customer base that includes Fortune 1000 companies leading Israeli corporations government agencies banks financial institutions insurance companies healthcare providers transportation firms and educational institutions. Specific customers named in the filing are Bezeq HOT Cellcom YES Israel Railways and various government bodies. The company also works with international clients such as ATI systems Garrett and Kopp ferro magnetic detectors for MRI rooms and advisory firms in the United States financial market.