OR YEHUDA, Israel, June 20, 2016 /PRNewswire/ --
Magic Software Enterprises Ltd. [http://www.magicsoftware.com/?utm_source=pr ]
(NASDAQ: MGIC), a global provider of software platforms
[http://www.magicsoftware.com/products?utm_source=pr ] for enterprise mobility
[http://www.magicsoftware.com/enterprise-mobility?utm_source=pr ], cloud applications
[http://www.magicsoftware.com/cloud-enabled-application-platform?utm_source=pr ], and
[http://www.magicsoftware.com/magic-xpi-integration-platform?utm_source=pr ], announced
today that it has entered into a definitive agreement to acquire a 60% equity interest in
Roshtov Software Industries Ltd, the developer of the Clicks development platform. The
Clicks platform is used in the design and management of patient-file oriented software
solutions for managed care and large-scale healthcare providers. The aggregate purchase
price for the 60% interest is approximately $21 million in cash and the Company will have
the option to acquire 100% of the equity in Roshtov. The transaction is expected to close
during the third quarter, subject to anti-trust regulatory approvals and the fulfillment
of certain conditions defined in the acquisition agreement.
As the clear market leader in patient record information systems in Israel, Clicks
systems are used by the country's leading healthcare providers to manage patient record
activity of a majority of the population, as well as in hospital facilities where Clicks
is used to manage patient information in ER, internal medicine, cardiology, gynecology,
psychiatric and other departments.
"This acquisition represents an important step in the execution of our growth
strategy. As a development platform, Clicks brings with it higher margins associated with
software sales and complements our existing offerings by addressing the health care market,
" said Amit Birk, Vice President M&A, at Magic Software Enterprises.
Management expects that this transaction will be accretive to earnings in 2016 and
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
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.
Magic Software Enterprises
SOURCE Magic Software Enterprises Ltd