Magic Software Announces Two Key Acquisitions in Support of Its E-Commerce and CRM Solutions Strategy; Acquires Top-Selling Call Center Management Software
May 17, 2000 12:00 PM Eastern Time
IRVINE, Calif.--(BUSINESS WIRE)--May 17, 2000--Magic Software Enterprises MGIC , recognized for its state-of-the-art application development technology and business solutions, announced today completion of two key acquisitions aimed at strengthening its position as a leading provider of e-commerce and customer relationship management (CRM) solutions.
Magic purchased a majority interest in Sintec Call Centers Ltd. (Sintec), a Magic Solutions Partner that is the developer of the leading call center management software in Israel. Magic plans to market and sell the Magic-based solution -- which already has been implemented extensively in Israel -- worldwide under the brand name, "Magic eContact(TM)." Magic also has acquired ITM, another Magic Solutions Partner with expertise in the development and implementation of e-commerce projects.
Sintec's call center management solution currently has more than 70 installations in the Israeli market, including some of the leading insurance, telecom and media corporations. In addition to providing customers one of the fastest times-to-market when compared to competing solutions, the application also offers a rapid return on investment due to its vastly reduced customization, training and implementation times, and its marked productivity gains. Magic will roll out the new Magic eContact solution as part of its CRM suite worldwide. Current Sintec customers include Beeper, a major call center outsourcer; Bezeq, the local PTT; and Ma'ariv, a large daily newspaper.
ITM employs 50 professionals focused upon e-commerce software development. In addition, the company provides Internet computing services, including the design, development and implementation of intranet, extranet and e-commerce projects, for large multinationals and other industrial and commercial organizations. ITM will play a central role in the continued development and refinement of Magic's business-to-business e-commerce solution, Magic eMerchant(TM), as well as in providing project support for Magic eMerchant implementations worldwide. Major ITM customers include Computer Associates; E.C.I. Telecom Ltd.; Supersol Ltd., a leading Israeli supermarket chain; and the Israel Aircraft Industry.
"The addition of Sintec and ITM to the Magic family brings a leading-edge call center management solution to our CRM suite, as well as a wealth of talent that can be applied toward further developing and marketing Magic to a wider worldwide audience," said Israel Teiblum, president of Magic. "This will become increasingly important as we continue to expand our presence in the North American market."
About Magic
Magic Software Enterprises, a member of the Formula Group FORTY , 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 1642 Kaiser Avenue, Irvine, Calif., 92614, telephone 949/250-1718, fax 949/250-7404, magic-sw.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 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 demand, the impact of competitive products and pricing, changing economic 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, Irvine Katharine Hanley, Director, IR/PR 949/250-1718 ext. 220 khanley@magic-sw.com
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