Magic Software Enterprises

Magic Software Enterprises Ltd. is an Israeli enterprise software company whose products are designed to help organizations build business applications, connect heterogeneous systems, and manage data across on-premises and cloud environments. The company originated in 1983 as a software-export spin-off from Mashov Computers. Initially named Mashov Software Export, it developed the Magic application generator for international customers. Its metadata-driven approach reduced the amount of conventional source-code development required and supported rapid debugging and deployment, characteristics that anticipated later low-code and model-driven development methods. The company expanded during the 1980s through versions of its technology for DOS and UNIX systems. Its software was adopted by a range of organizations, including the Israel Defense Forces, and the business developed a significant relationship with IBM around AS/400 environments. In 1991, it adopted the Magic Software Enterprises name and became the first Israeli software company to list on Nasdaq. A Windows version of Magic followed in 1995, broadening the platform beyond its earlier operating-system base. Magic became part of the Formula Group in 1998. Around the turn of the century, it expanded its product strategy from application generation into rules-based application platforms and enterprise integration. The eDeveloper framework, released in 2001, provided a graphical, event-driven environment with a precompiled engine and reusable runtime services. The company subsequently introduced iBOLT, an integration platform, in 2003. In 2008, uniPaaS replaced eDeveloper as the principal application platform, and a .NET edition and enterprise mobility capabilities were added in 2011. A company-wide rebranding in 2012 renamed uniPaaS as the Magic xpa Application Platform and iBOLT as the Magic xpi Integration Platform. Magic xpa focused on visual, low-code development and deployment of business applications, while Magic xpi addressed connections among enterprise applications, databases, legacy systems, and cloud services. The integration offering was enhanced with in-memory data-grid technology supplied through GigaSpaces. These products positioned Magic around modernization projects in which customers needed to preserve existing systems while introducing newer digital services. Magic later broadened its portfolio through acquisitions and adjacent solutions. In 2016, it agreed to acquire a 60% interest in Roshtov Software Industries, developer of the Clicks platform for patient-file-oriented software used by managed-care organizations and healthcare providers. More recent product positioning has emphasized the Magic xpi Integration Platform, managed integration services, cloud migration, data management, and FactoryEye, a smart-factory solution intended to provide operational visibility and support industrial digitalization. Magic Software was listed on Nasdaq under the symbol MGIC and on the Tel Aviv Stock Exchange for much of its corporate history. According to the referenced Wikipedia material, Matrix IT Ltd. acquired the company in February 2026, after which it ceased to be an independently listed company. The transaction placed Magic within the wider Formula Systems ecosystem and marked the end of its period as a separately traded public software enterprise. Its operating identity remains associated with low-code application development, enterprise integration, legacy modernization, and industrial data visibility.

Magic Software Enterprises began in 1983 as a spin-off from Mashov Computers, an Israeli provider of business solutions for microcomputers. David Assia and Yaki Dunietz established the new company under the name Mashov Software Export, retaining the MSE abbreviation. Its initial commercial objective was to export software rather than concentrate solely on Israel. The principal technology was Magic, a metadata-driven application generator developed by Jonathan Hashkes with programme management associated with Miko Hasson. By reducing dependence on traditional compiling and linking, the system offered rapid debugging and a relatively efficient way to create database-oriented business applications. During the 1980s, Magic expanded through products for DOS and UNIX. Its customer base included large organizations, among them the Israel Defense Forces. The company also built a close relationship with IBM, particularly around AS/400 systems. In 1991, it changed its name to Magic Software Enterprises and became the first Israeli software company to go public on Nasdaq. The release of Magic for Windows in 1995 represented an important platform transition as enterprise computing moved toward graphical desktop environments. Formula Group, led by Dan Goldstein, acquired Magic in 1998. The company subsequently attracted substantial investor attention; in February 2000 it raised more than $100 million at a reported valuation of approximately $1 billion. The period also exposed operational difficulties. After two successive profit warnings, Menachem Hasfari replaced Jack Dunitz as chief executive in February 2001. That year, Magic introduced eDeveloper, also known as Rohan, a graphical and rules-based framework using event-driven development, a precompiled engine, and reusable runtime functions for database business applications. Magic broadened its enterprise-software scope in 2003 with iBOLT, an integration platform intended to connect business applications and data sources. In July 2008, it released uniPaaS as the successor to eDeveloper. The company added a .NET version in 2011 and introduced enterprise mobility capabilities as customers increasingly required applications to operate across web, mobile, and established enterprise environments. In May 2012, Magic carried out a broad corporate and product rebranding. uniPaaS became the Magic xpa Application Platform, while iBOLT became the Magic xpi Integration Platform. The new naming emphasized a unified Magic identity and clarified the distinction between application development and integration. Magic xpi was subsequently enhanced with in-memory data-grid technology from GigaSpaces, supporting faster movement and processing of enterprise data. Leadership also evolved during this period. Guy Bernstein became chairman in 2007, replacing David Assia, after previously serving as Magic's chief financial and operations officer from 1999. Bernstein became chief executive in April 2010. The company later pursued expansion into specialized vertical software. In 2016, it agreed to purchase a 60% interest in Roshtov Software Industries for $21 million, with an option covering the remaining equity. Roshtov's Clicks platform served patient-file-oriented applications used by managed-care organizations and healthcare providers. In its later positioning, Magic emphasized low-code application delivery, hybrid integration, cloud migration, data management, and managed services. Magic xpa addressed the creation and modernization of business applications, while Magic xpi focused on connecting legacy systems, databases, cloud services, and enterprise applications. FactoryEye added a smart-factory dimension, targeting operational visibility and industrial data use. The company remained listed on Nasdaq under MGIC and on the Tel Aviv Stock Exchange until the acquisition by Matrix IT in February 2026. That transaction ended Magic's status as a separately listed company and placed it within the Formula Systems group structure.

1. 2026Acquired by Matrix IT

   Matrix IT acquired Magic Software Enterprises, ending its separate Nasdaq and Tel Aviv Stock Exchange listing.

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2. 2016Majority investment in Roshtov Software Industries

   Magic agreed to acquire 60% of Roshtov and obtained an option to acquire the remaining interest.

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3. 2012Magic xpa and Magic xpi names introduced

   The company renamed uniPaaS as Magic xpa and iBOLT as Magic xpi in a broad corporate rebranding.

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4. 2008uniPaaS replaces eDeveloper

   The new platform continued Magic's evolution toward contemporary application-platform and deployment capabilities.

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5. 2003iBOLT integration platform launched

   iBOLT marked a major expansion into enterprise application and data integration.

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6. 2001eDeveloper introduced

   The company released a graphical, rules-based and event-driven successor framework for database business applications.

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7. 1998Acquired by Formula Group

   Magic became part of the Formula Group led by Dan Goldstein.

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8. 1995Magic for Windows released

   The Windows edition broadened the platform's relevance as enterprise customers moved away from earlier DOS-centered deployments.

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9. 1991Renamed Magic Software Enterprises and listed on Nasdaq

   The company adopted its current name and became the first Israeli software company to list on Nasdaq.

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10. 1983Company founded as Mashov Software Export

    David Assia and Yaki Dunietz established the software-export spin-off from Mashov Computers to develop and sell the Magic application generator internationally.

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Enterprise low-code development, integration, data-management, and industrial digitalization provider focused on connecting legacy systems with cloud applications and enabling faster business-application delivery.

• Magic xpa Application PlatformLow-code application development platform2012

  Magic xpa is the successor to the company's uniPaaS and eDeveloper platforms. It provides a visual and metadata-oriented environment for creating, modernizing, and deploying enterprise business applications. The platform reflects Magic's longstanding focus on reducing conventional coding effort while supporting database operations, reusable business logic, multiple deployment environments, and integration with existing enterprise systems. Its principal value proposition is helping organizations extend or replace legacy applications without discarding established data and processes.

• Magic xpi Integration PlatformEnterprise integration and data-management platform2012

  Magic xpi evolved from the iBOLT integration platform and is intended to connect applications, databases, legacy systems, cloud services, and other enterprise endpoints. It supports hybrid IT environments in which organizations must coordinate older on-premises systems with newer cloud applications. The platform has also been associated with managed integration services and was enhanced with in-memory data-grid technology from GigaSpaces. Its positioning centers on migration, synchronization, workflow connectivity, and end-to-end data movement.

• FactoryEye Smart Factory SolutionIndustrial software and smart-factory solution

  FactoryEye is a smart-factory offering associated with Magic's later expansion into industrial digitalization. It is designed to help manufacturers collect and connect operational data, improve visibility across production activity, and support data-informed management of factory processes. The product extends Magic's integration and data-management capabilities into manufacturing environments rather than limiting the company to general-purpose application development.

• ClicksHealthcare information-management software

  Clicks was developed by Roshtov Software Industries, in which Magic agreed to acquire a majority interest in 2016. The platform was used for patient-file-oriented software solutions serving managed-care organizations and healthcare providers. It represents Magic's exposure to specialized vertical applications and healthcare information workflows through its investment in Roshtov.

• 2012Magic corporate and product rebranding

  Global

  Magic introduced a company-wide identity refresh, including a new logo and tagline, while consolidating its product naming under the Magic brand. uniPaaS became Magic xpa Application Platform and iBOLT became Magic xpi Integration Platform.

  Outcome. The rebranding aligned the application-development and integration businesses under a clearer platform architecture and strengthened the company's low-code and enterprise-integration positioning.

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• 2026Sell the company to Matrix ITM&A

  Magic had operated as a separately listed enterprise software company on Nasdaq and the Tel Aviv Stock Exchange.

  What changed. Matrix IT acquired Magic Software Enterprises in February 2026.

  Aftermath. Magic ceased to be separately listed and became part of Matrix IT and the wider Formula Systems group.

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• 2016Acquire a majority interest in Roshtov Software IndustriesM&A

  Magic sought additional vertical software exposure, including healthcare information-management applications.

  What changed. Magic agreed to acquire 60% of Roshtov Software Industries for $21 million and obtained an option to acquire 100%.

  Aftermath. The transaction expanded Magic's portfolio into patient-file-oriented software for managed-care organizations and healthcare providers.

  Purchase price for 60% equity interest. $21 million (2016)

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• 2012Unify product architecture under the Magic brandStrategy

  Magic wanted its application and integration products to present a more coherent identity in the enterprise software market.

  What changed. The company renamed uniPaaS as Magic xpa and iBOLT as Magic xpi, and added GigaSpaces in-memory data-grid technology to the integration offering.

  Aftermath. The change clarified Magic's two principal platform categories: low-code application development and enterprise integration.

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• 2008Replace eDeveloper with uniPaaSGeneration change

  Magic sought to update its application-development platform for changing enterprise deployment and development requirements.

  What changed. The company released uniPaaS as the successor to eDeveloper and later added a .NET edition and mobility capabilities.

  Aftermath. The product transition preserved Magic's model-driven development heritage while extending it toward newer application environments.

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• 2003Expand into enterprise integration with iBOLTProduct launch

  Customers increasingly needed to connect applications and data sources rather than develop isolated business programs.

  What changed. Magic launched iBOLT as an enterprise integration platform.

  Aftermath. The product created the foundation for the later Magic xpi integration business.

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• 1991Adopt the Magic Software Enterprises name and pursue a public listingStrategy

  The software-export business had grown beyond its original Mashov Software Export identity and was developing an internationally marketed application generator.

  What changed. The company changed its name to Magic Software Enterprises and listed on Nasdaq.

  Aftermath. The move established Magic as a separately identified Israeli software company with access to public capital markets.

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• 2026Matrix IT acquires Magic Software Enterprises

  Matrix IT acquired Magic Software Enterprises, ending the company's separate public-market status on Nasdaq and the Tel Aviv Stock Exchange.

  M&AOther
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• 2016Magic Software agrees to acquire a majority stake in Roshtov Software Industries

  Magic agreed to acquire 60% of Roshtov Software Industries for $21 million, with an option to acquire the remaining interest. Roshtov developed the Clicks platform for healthcare and managed-care patient-file applications.

  M&A
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• 2012Magic Software rebrands its principal platforms

  A company-wide rebranding renamed uniPaaS as Magic xpa and iBOLT as Magic xpi, with the integration platform incorporating GigaSpaces in-memory data-grid technology.

  CampaignProduct generation
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• 2008Magic Software introduces uniPaaS

  The company released uniPaaS as the successor to eDeveloper and continued its move toward a modern application-platform model.

  Product launchProduct generation
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• 2003Magic Software launches iBOLT integration platform

  iBOLT expanded Magic's business from application generation into enterprise application and system integration.

  Product launch
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• 2001Magic Software releases eDeveloper framework

  The company introduced a graphical, rules-based and event-driven application framework that replaced earlier Magic development approaches.

  Product launchProduct generation
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• 1991Magic Software changes name from Mashov Software Export

  The company adopted the Magic Software Enterprises name and became the first Israeli software company to list on Nasdaq.

  Other
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1. Magic Software Enterprises
2. Magic Software Enterprises official website