Magic Acquires 70 Percent Stake In Israeli Software Co.

February 26, 2015 | Magic Software Enterprises will acquire a 70 percent stake in an Israeli company that specializes in software professionalization services for mainframes and large-scale environments. The agreement has the possibility to be expanded from a 70 to a one hundred-percent stake. Details were not disclosed regarding the name of the company or the price of the acquisition. Magic hopes that the acquisition of the company will expand its AppBuilder software solution for large and complex infrastructures. Magic was founded in 1986 by David Assia and Yaki Dunietz.