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Formula Systems (1985) Ltd. (FORTY)

27.01 Down 0.30(1.10%) Sep 19, 3:02PM EDT
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Formula Systems (1985) Ltd.
5 HaPlada Street
PO box 5012
Or Yehuda, 60218
Israel - Map
Phone: 972 3 538 9487
Fax: 972 3 538 9645

Index Membership:N/A
Industry:Business Software & Services
Full Time Employees:8,758

Business Summary 

Formula Systems (1985) Ltd. provides software consulting services and computer-based business solutions, and develops proprietary software products worldwide. The company operates in three segments: Matrix, Magic, and Sapiens. It offers software services, software development projects, outsourcing, and integration of software systems and services; infrastructure solutions for computer and communication systems, and hardware products; and training and assimilation services, as well as sells and support various software products. The company also develops, markets, sells, and supports application platforms for developing and deploying business applications, and business and process integration solutions, including Magic xpa Application Platform, a comprehensive Internet application platform that supports various deployment models; Magic xpi Integration Platform, a graphical, wizard-based code-free solution delivering integration and orchestration of business processes and applications; and AppBuilder Application Platform, a development environment used for managing, maintaining, and reusing complicated applications. In addition, it offers Sapiens ALIS, a life, annuities, pension, and retirement software solution for individual, group, and worksite insurance products; Sapiens IDIT, a software solution for traditional insurance, direct insurance, bancassurance, and brokers markets; Sapiens RapidSure, a software solution to meet the business and regulatory requirements of property and casualty/general insurance (P&C) providers; Sapiens Reinsurance to handle P&C/general reinsurance activities; Sapiens DECISION, a business decision software solution; and Sapiens legacy software solutions. Further, the company provides consulting and software development project management services; and implementation and integration services. The company was founded in 1985 and is headquartered in Or Yehuda, Israel. Formula Systems (1985) Ltd. is a subsidiary of Asseco Poland S.A.

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Key Executives 
Mr. Guy Bernstein , 46
Chief Exec. officer
Mr. Asaf Berenstin , 36
Chief Financial Officer and Principal Accounting Officer
Amounts are as of and compensation values are for the last fiscal year ending on that date. Pay is salary, bonuses, etc.Exercised is the value of options exercised during the fiscal year.
Currency in USD.