There aren’t too many Israeli companies that have reached this scale: Magic Software (NASDAQ: MGIC), a veteran Israeli software company specialized in cloud and on-premise application platform and business integration solutions, has raised $21.2 million in a private placement transaction in December and an additional $3,7 million in option sales according to a recent SEC D filing.
From the announcement: “Under the terms of the offering, the Company will sell an aggregate of approximately 3.26 million ordinary shares at a price of $6.50 per share. Certain of the purchasers will also receive warrants to purchase up to an aggregate of approximately 1.13 million ordinary shares at an exercise price of $8.26 per share.”
The company’s flagship products are uniPaaS and iBolt. Magic Software has partnerships with global IT leaders including SAP AG, salesforce.com, IBM and Oracle and some of its customers include: Adidas, Allstate, CBS Outdoor, Deutsche Bank, United Nations, Vodafone, and many more.
Watch a short video on Magic, one of the relics of Israel’s software powerhouse: