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Thursday January 23, 1:01 pm ET
Magic Software Signs Million Dollar Framework Agreement With Hungarian Government For eDeveloper and iBOLT
Agreement Streamlines Procurement Process in More Than 1,000 Government Institutions in Centralized Program
Magic Software Enterprises (Nasdaq:MGIC - News), a leading provider of state-of-the-art development and integration technology, and business solutions, announced today the signing of a framework agreement with Istvan Schaffer, Director of the Public Procurement and Economic Management Department of the Prime Minister's office in Hungary.
The agreement enables Magic Software's Hungarian subsidiary to sell up to a million dollars of software and services to governmental institutions, including the company's flagship eDeveloper application development environment and the recently announced iBOLT Integration Suite.
As part of a new centralized procurement program the Hungarian government selected Magic Software to join the program that makes it easier for government companies to buy software and services without the cumbersome and complicated procedures generally associated with government tenders. The company was one of only four companies chosen to participate in this program. The other winners were IBM, Oracle and Sybase.
"We are very pleased to see Magic Software included in this important framework agreement that acknowledges our reputation for delivering quality products and services," said Regev Yativ, Managing Director of Magic Software's European operation. "The agreement provides us with an opportunity to better serve government institutions in Hungary."
Magic Software was chosen after a thorough analysis and technical review of the company's products and services organization. The overriding factors included the open standards and independent approach of the technology with regards to platforms, databases and integration as well as the significant support structure the company provides.
About Magic Software Enterprises
Magic Software Enterprises, a member of the Formula Group
(Nasdaq:FORTY - News), develops, markets and supports software development
and deployment technology that enables enterprises to accelerate the
process of building and deploying applications that can be rapidly
customized and integrated with existing systems. Magic technology,
applications and professional services are available through a global
network of subsidiaries, distributors and Magic solutions partners in
approximately 50 countries. The Company's North American subsidiary is
located at 17310 Redhill Avenue #270, Irvine, CA 92614-5637, telephone
800/345-6244, 949/250-1718, fax 949/250-7404,
http://www.magicsoftware.com/.
The Formula Group is an international information technology
company principally engaged, through its subsidiaries and affiliates,
in providing software consulting services, developing proprietary
software products and producing computer-based solutions.
Except for the historical information contained herein, the
matters discussed in this news release include forward-looking
statements that may involve a number of risks and uncertainties.
Actual results may vary significantly based upon a number of factors
including, but not limited to, risks in product and technology
development, market acceptance of new products and continuing product
conditions, both here and abroad, release and sales of new products by
strategic resellers and customers, and other risk factors detailed in
the Company's most recent annual report and other filings with the
Securities and Exchange Commission.
Contact:
Magic Software Enterprises Ltd.
David Leichner, 949/250-1718 ext. 299
davidl@magicsoftware.com
 
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