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Top-Tier Thai Bank Selects Magic's AppBuilder As Part Of Its Core Banking Development Platform

Stocks in this article: MGIC

OR YEHUDA, Israel, November 13, 2013 /PRNewswire/ --

Magic Software Enterprises Ltd. (NASDAQ: MGIC), a global provider of software platforms for enterprise mobility, cloud applications, and business integration, announced today that a Top-Tier Thai bank has selected Magic's AppBuilder as part of its core banking development platform. The selection process was facililted by one of AppBuilder's key partners, a large European financial software group specializing in banking software systems.

With more than $50 billion USD in assets, the Thai bank operates approximately 1,000 branches, 6,000 ATMs, 100 foreign exchange offices, 50 international trade centers throughout Thailand, as well as many international branches.

"We welcome another major bank to our list of customers. AppBuilder's track record of stability and robustness, with proven ability to support millions of transactions per day, makes it an exceptional solution for banking and financial organizations," said Arik Killman, CEO of  AppBuilder Solutions Ltd.

About AppBuilder Solutions

AppBuilder Solutions is a subsidiary of  Magic Software Enterprises Ltd., a global provider of mobile and cloud-enabled application and business integration.

AppBuilder provides a comprehensive application development infrastructure for large-scale and complex environments that is used across industry verticals including banking, insurance, healthcare and government, and by many Fortune 1000 enterprises around the world. AppBuilder enables development teams to quickly and easily build, deploy, and maintain large-scale, custom-built business applications. Because AppBuilder uses a platform-independent model and generates code for COBOL, Java/J2EE, and C#, enterprises get the benefit of easy-to-maintain applications, without being dependent on any particular technology.

For more information, visit http://www.appbuilder.com.

Except for any historical information contained herein, matters discussed in this press release might include forward-looking statements that involve a number of risks and uncertainties. Regarding any financial statements, actual results might 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 locally and abroad, release and sales of new products by strategic resellers and customers, and other risk factors detailed in Magic's most recent annual report and other filings with the Securities and Exchange Commission.

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