As a part of its global expansion plan, Magic Software Enterprises Ltd, a leading provider of cloud and on-premise application platform and business integration solutions, signed a purchase agreement with its South African distributor, Magix Integration (Pty) Ltd.
According to the agreement, Magic Software will now control 51 percent of Magix Integration with an option to increase its holdings to 75 percent for a total investment of up to $2.5 million to be paid over the next year. In a press release, the company officials expressed hope that the acquisition of Magix Integration's operations relating to Magic Software products will enable the company to extend its global presence in South Africa.
It will be relevant to mention here that Magic Software already operates 13 existing offices worldwide and a presence in more than 50 countries with a global network of ISVs, system integrators, value-added distributors and resellers, as well as consulting and OEM partners. The company partners with global IT leaders including SAP (News - Alert) AG, salesforce.com, IBM and Oracle. The acquisition of Magix Integration is expected to strengthen the company’s foothold in the South African market.
Commenting on the acquisition, in a press release, acting Chief Executive Officer of Magic Software, Guy Bernstein, stated, “I am very pleased with the new acquisition, which expands our global operations to include South Africa, adding to our 13 existing offices worldwide. We expect this addition to positively contribute to our growth plans and further strengthen our presence in this region."
Magix Integration specializes in the software integration and application development of Magic software platforms as well as the support of large-scale and complex systems in the public and financial sectors in South Africa. According to the company, its solutions are designed to meet with complex and large-scale software requirements through a combination of software tools and disciplines.
The company boasts of an impressive portfolio of blue chip customers across the public sector in South Africa including the Department of Correctional Services, Department of Energy, and Financial Services Board, as well as the private sector with customers such as Discovery, Soviet, and PG Glass.
“We are proud to be part of Magic Software Enterprises, a global technology company. This will allow us to provide added value to our customers and partners through the exciting technology enhancements Magic Software is bringing to the market,” said managing director of Magix Integration, Hedley Hurwitz, in a statement.
A few months back, TMCnet reported Magic software’s release of its latest version of the uniPaaS business application platform, Version 1.9, which allows companies to build rich internet applications based on modern technologies. In the release, the company said that uniPaaS featured a ready-made business application engine for simplifying the code-writing process and enabling the developers to deploy to market faster, using fewer resources. Applications developed using uniPaaS typically have fewer coding mistakes and undergo more thorough prototyping, the company claimed.