Matrix IT takes Magic Software private

● PLATFORM | HORIZONTAL SAAS · Low-code & Automation

FEBRUARY 24, 2026

Matrix IT takes Magic Software private

TARGET

Magic Software provides low-code application development and business integration platforms, sold to enterprises globally for digital transformation and cloud connectivity.

Revenue	$610M–$620M (2025 full-year guidance)
Ownership	Publicly traded · Formula Systems (1985) Ltd., Menorah Mivtachim Holdings Ltd., Psagot Investment House Ltd., The Phoenix Holdings Ltd.
Capital raised	$124.9 million
Headcount	3,787 FTEs
Headquarters	Or Yehuda, Israel
Leadership	Guy Bernstein, Chief Executive Officer Asaf Berenst, CFO (Magic Software Enterprises)
Sell-side advisor	—

ACQUIRER

Matrix IT

Ownership	—
Buy-side advisor	—

Share deal Copy details View press release ↗

Matrix IT -> Magic Software  (2026-09-18)
take_private | Horizontal SaaS | closed
Target: Magic Software provides low-code application development and business integration platforms, sold to enterprises globally for digital transformation and cloud connectivity.
Website: magicsoftware.com | Buyer site: matrix-globalservices.com
HQ: Or Yehuda, Israel | Ownership: public
Advisors - not yet credited
Source: Thematic - https://thematichq.com/software/d/matrix-it-magic-software.html

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