Overview
Formula Systems (1985) is an Israeli holding company that controls several listed IT companies, including the services group Matrix IT and Magic Software Enterprises. In its 20-F for 2025 it reported consolidated revenues of US$2,627 million, compared with a restated US$2,218 million for 2024[35]. The comparison was restated because Advent acquired Sapiens in November 2025, after which Sapiens’ results were deconsolidated from Formula’s statements[35]. Magic Software alone had about 4,072 employees at 31 December 2025[35]. Formula is based in Or Yehuda, Israel, and its shares trade on Nasdaq and the Tel Aviv Stock Exchange. Most of the group’s revenue comes from IT services, outsourcing and software for Israeli enterprises and the public sector.
Appears in
- Top 50 IT Outsourcing Companies in the World: 2026 Edition #31
- Top 50 IT Services Companies: 2026 Edition #32
Formula Systems alternatives and competitors
Alternatives to Formula Systems: companies ranked in the same lists.
- Accenture
ICF International
Everforth (formerly ASGN)
Indra Group (Minsait)- NTT DATA
- Rackspace Technology
Globant- Chinasoft International
Tieto (formerly Tietoevry)
Unisys
Coforge
Amdocs
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