Magic Software To Acquire BluePhoenix's AppBuilder Activity For $17M
OR YEHUDA, Israel, October 31, 2011 /PRNewswire/ --
Magic Software Enterprises Ltd. ( NASDAQ: MGIC), a global provider of mobile and cloud-enabled application and business integration platforms, and BluePhoenix Solutions ( NASDAQ: BPHX), a leading provider of value-driven legacy IT modernization solutions, announced today that they have entered into a definitive agreement under which Magic Software will acquire BluePhoenix's AppBuilder activity for $17 million. The acquisition is expected to be finalized by mid-December 2011, subject to the fulfillment of certain conditions defined in the acquisition agreement.
AppBuilder is a comprehensive application development infrastructure used by many Fortune 1000 enterprises around the world. This premier enterprise application development environment is a powerful, model-driven tool that enables development teams to build, deploy, and maintain large-scale, custom-built business applications.
Commenting on the acquisition, Guy Bernstein, CEO of Magic Software, said: "The acquisition of AppBuilder will enable Magic Software to further expand and enhance its portfolio of products, strengthening its standing as a global provider of application development platforms. We will develop and invest in all aspects of AppBuilder's activity, and will increase support for its customers, enabling them to benefit from a powerful vision for the future."
"This technology-driven acquisition will increase our market share and create new business opportunities by leveraging BluePhoenix's worldwide customer base of leading, high-end, large enterprises in diverse industries and vertical markets," continued Guy Bernstein. "The technological and business synergies presented by this acquisition will make an important contribution to Magic Software's continued growth." About Magic Software Magic Software Enterprises Ltd. ( NASDAQ: MGIC) is a global provider of mobile and cloud-enabled application and business integration platforms. For more information, visit http://www.magicsoftware.com. About BluePhoenix SolutionsSelect the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
