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In many cases, the end of the year gives you time to step back and take stock of the last 12 months. This is when many of us take a hard look at what worked and what did not, complete performance reviews, and formulate plans for the coming year. For me, it is all of those things plus a time when I u...
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Magic Seals $1.5 Million Deal With Leading UK Financial Institution
3-Year Deal Includes Development Software Licenses and Maintenance for Large-scale and Complex Environments

OR YEHUDA, Israel, December 12, 2012 /PRNewswire/ --

Magic Software Enterprises Ltd. (NASDAQ: MGIC), a global provider of software platforms for enterprise mobility, cloud applications, and business integration, announced today that it has signed a 3-year contract with a leading UK financial institution valued at approximately $1.5 million. The deal includes Magic's AppBuilder software licenses and maintenance services.

Acquired by Magic in 2011, AppBuilder provides a comprehensive application development infrastructure for large-scale and complex environments employed 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.

"We are very pleased to have a large and prestigious AppBuilder client firmly demonstrate its continued confidence in AppBuilder after our recent acquisition," said Guy Bernstein, CEO of Magic Software Enterprises. "This deal is evidence that AppBuilder has proven to be a good fit and an important addition to the Magic family, broadening our product portfolio, strengthening our position as a global provider of application development platforms, and increasing our growth opportunities."

About Magic Software Enterprises

Magic Software Enterprises (NASDAQ: MGIC) empowers customers and partners around the globe with smarter technology that provides a multichannel user experience of enterprise logic and data.

For more information, visit http://www.magicsoftware.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.

Magic has made every effort to ensure that the information contained in this press release is accurate; however, there are no representations or warranties regarding this information, including warranties of merchantability or fitness for a particular purpose. Magic assumes no responsibility for errors or omissions that may occur in this press release.

Magic is a registered trademark of Magic Software Enterprises Ltd. All other product and company names mentioned herein are for identification purposes only and are the property of, and might be trademarks of, their respective owners.

Press Contact:

Tania Amar | VP Global Marketing
Magic Software Enterprises
tania@magicsoftware.com

SOURCE Magic Software Enterprises Ltd

About PR Newswire
Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

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