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RMTHF on OTC

Magic Software Enterprises Ltd.

Logo: MagicDE, CC BY-SA 3.0, via Wikimedia Commons5

Software company

Magic Software Enterprises Ltd (MSE) is a global enterprise software company headquartered in Or Yehuda, Israel that was listed on Nasdaq and the Tel Aviv Stock Exchange until it was sold to Matrix IT Ltd. in February 2026. It provides low-code integration and data management platforms that simplify the connection between legacy on-premise systems and modern cloud applications.3 Its shares trade on OTC under the symbol RMTHF.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

$552.5MRevenue, fiscal 20246
$43.3MNet income, fiscal 20246
1983Founded1

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  • TickerRMTHF on OTC1
  • Industrysoftware industry1
  • HeadquartersOr Yehuda1
  • Founded inIsrael1
  • Websitewww.magicsoftware.com
  • Legal formjoint-stock company, limited company1
  • Listed onNasdaq (MGIC), Tel Aviv Stock Exchange (MGIC)1
  • Incorporated inIsrael7
  • Business addressYahadut Canada 1 St., Or Yehuda Israel, L3 60375017
  • Filer categoryAccelerated filer7
  • LEI529900PT36UHAIVEFN604
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered address5 Haplada Street, 6021805 Or-Yehuda, Israel4
  • Registered withIsraeli Corporations Authority (Department of Justice), 5200367404

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Magic Software Enterprises Ltd (MSE) is a global enterprise software company headquartered in Or Yehuda, Israel that was listed on Nasdaq and the Tel Aviv Stock Exchange until it was sold to Matrix IT Ltd. in February 2026.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

28.6%Gross margin6
7.8%Net margin6
3.3%Revenue growth, 20246
14.4%Return on equity6
0.12×Debt to equity6
$73.3MFree cash flow6

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Cost of revenue41¢$394.7M
  • Research and development1¢$13.3M
  • Interest52¢$491.3M
  • Income tax1¢$11.3M
  • Profit5¢$43.3M

Out of $552.5M in revenue.6

Where each dollar of operating cash went, fiscal 2024

  • Capital spending2¢$1.5M
  • Kept or used elsewhere98¢$73.3M

Out of $74.8M of cash from operations.6

Financial statements

Revenue910116$552.5M in 2024+114% since 2017
0$200.0M$400.0M$600.0M2017: $258.1M$258.1M20172018: $284.4M$284.4M2018+10%2021: $480.3M$480.3M2021+69%2022: $566.8M$566.8M2022+18%2023: $535.1M$535.1M2023−6%2024: $552.5M$552.5M2024+3%
Gross profit1213146$157.8M in 2024+90% since 2017
0$50.0M$100.0M$150.0M$200.0M2017: $83.0M$83.0M20172018: $88.8M$88.8M2018+7%2019: $102.1M$102.1M2019+15%2020: $109.6M$109.6M2020+7%2021: $133.0M$133.0M2021+21%2022: $155.4M$155.4M2022+17%2023: $153.0M$153.0M2023−2%2024: $157.8M$157.8M2024+3%
Operating income121314$51.2M in 2021+97% since 2017
0$20.0M$40.0M$60.0M2017: $26.0M$26.0M20172018: $31.7M$31.7M2018+22%2019: $33.7M$33.7M2019+6%2020: $40.6M$40.6M2020+21%2021: $51.2M$51.2M2021+26%
Net income1213146$43.3M in 2024+180% since 2017
0$20.0M$40.0M$60.0M2017: $15.4M$15.4M20172018: $19.9M$19.9M2018+29%2019: $20.3M$20.3M2019+2%2020: $25.2M$25.2M2020+24%2021: $29.3M$29.3M2021+16%2022: $46.3M$46.3M2022+58%2023: $42.5M$42.5M2023−8%2024: $43.3M$43.3M2024+2%
Fiscal year20172018201920202021202220232024
Revenue$258.1M9$284.4M10$480.3M11$566.8M6$535.1M6$552.5M6
Cost of revenue$175.2M12$195.6M13$223.5M14$261.6M14$347.3M14$411.4M6$382.1M6$394.7M6
Gross profit$83.0M12$88.8M13$102.1M14$109.6M14$133.0M14$155.4M6$153.0M6$157.8M6
Research and development$6.9M12$5.7M13$8.2M14$8.8M14$9.0M14$10.1M6$10.3M6$13.3M6
Selling, general and admin$7.0M11$8.2M11$8.0M11
Operating income$26.0M12$31.7M13$33.7M14$40.6M14$51.2M14
Interest$428.2M11$505.0M6$477.9M6$491.3M6
Income before tax$45.3M14$57.4M6$52.4M6$54.6M6
Income tax$6.3M12$7.1M13$6.9M14$7.3M14$10.4M14$11.1M6$9.9M6$11.3M6
Net income$15.4M12$19.9M13$20.3M14$25.2M14$29.3M14$46.3M6$42.5M6$43.3M6
Earnings per share$0.359$0.2614$0.4914$0.5214$0.826$0.756$0.756
Earnings per share (diluted)$0.359$0.6111$0.826$0.756$0.756
Shares (weighted, basic)49.1M shares1449.1M shares649.1M shares649.1M shares6
Shares (weighted, diluted)49.1M shares1449.1M shares649.1M shares649.1M shares6

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Corporate structure

Magic Software Enterprises Ltd. sits at the top of its group. 2 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Magic Software Enterprises Ltd.

  • Magic Software Enterprises Ltd. Or-Yehuda, Israel
    • MAGIC SOFTWARE ENTERPRISES INDIA PRIVATE LIMITED Subsidiary · 99.99% · Pune, India

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Magic Software Enterprises Ltd. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, net$7.5M6 Dec 31, 2024$8.0M6 Dec 31, 2023−6.5%
Operating-lease assets (leased space)$24.7M6 Dec 31, 2024$25.7M6 Dec 31, 2023−3.9%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$112.8M6 Dec 31, 2024$105.9M6 Dec 31, 2023+6.5%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$172.5M6 Dec 31, 2024$166.1M6 Dec 31, 2023+3.9%
Intangible assets, net (excluding goodwill)$45.3M6 Dec 31, 2024$50.7M6 Dec 31, 2023−10.6%

The story

Magic Software Enterprises was founded in 1983 by David Assia and Yaki Dunietz as a spin-off from "Mashov Computers", a publicly traded Israeli company that provided business solutions on microcomputers. The new company was originally named "Mashov Software Export (MSE)", and developed software for the global market, specifically an application generator named Magic.

Mashov’s major innovation was a metadata-driven approach to programming that required no compiling or linking, and also allowed instantaneous debugging. The Magic platform was originally designed and developed by Jonathan (Yoni) Hashkes, along with Miko Hasson who was responsible for programme management. During the 1980s, the company grew due to its sales of the DOS and UNIX platforms. The product was used by many large organizations, including the Israel Defense Forces.

In 1991, the company changed its name to "Magic Software Enterprises" (retaining the acronym: MSE) and became the first Israeli software company to go public on the NASDAQ. During this period, the company developed a close relationship with IBM, focusing on AS/400 systems. In mid-1995, the first version of Magic for Windows was released.

In 1998, Magic was acquired by the Formula Group, headed by Dan Goldstein. In February 2000, it raised over $100 million and traded at a company valuation of $1 billion.

In 2001, Magic released "eDeveloper" (Rohan), a graphical, rules-based, and event-driven framework that offered a pre-compiled engine for database business tasks and a wide variety of generic runtime services and functions.

In February 2001, Menachem Hasfari replaced Jack Dunitz as CEO after a series of failures that led the company to post two successive profit warnings.

In 2007, Guy Bernstein was appointed chairman of the board at Magic Software Enterprises, replacing David Assia. Prior to that, Bernstein had served as Chief Financial and Operations Officer of Magic Software since 1999. Guy Bernstein was appointed CEO of Magic Software Enterprises in April 2010.

In 2003, Magic released the "iBOLT" integration platform. In July 2008, it released the first version of the "uniPaaS" application platform, replacing eDeveloper. In 2011, Magic released a.NET version of uniPaaS, and launched a new offering for enterprise mobility. In May 2012, Magic launched a company-wide rebranding, including new product names and a new logo and tagline. uniPaaS was renamed "Magic xpa Application Platform" and iBOLT was renamed "Magic xpi Integration Platform". The Magic xpi Integration Platform was enhanced to include In-Memory Data Grid (IMDG) technology from GigaSpaces.

Read the full text

In 2016, Magic entered into an agreement to acquire a 60% equity interest in Roshtov Software Industries for $21 million with an option to acquire 100% of the equity in Roshtov, developer of the Clicks platform used in patient-file oriented software solutions for managed care and healthcare providers.

From Wikipedia’s article on Magic Software Enterprises, shared under CC BY-SA 4.0.8

Leadership

Who has led Magic Software Enterprises Ltd., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Guy Bernstein2026–now

Chief financial officer

  1. Asaf Berenstin2026–now
1990200020102020

Timeline

  1. Apr 20, 2026New chief executive Guy Bernstein becomes CEO16
  2. 1983Founded Founded in Israel1

Filings

91 filings to the SEC since October 2021: 4 annual reports, 2 insider forms, 12 large holders, 73 other. The latest 20:

  1. Apr 20, 20263 PRIMARY DOCUMENT EDGAR
  2. Apr 20, 20263 PRIMARY DOCUMENT EDGAR
  3. Mar 13, 202615-12G EDGAR
  4. Mar 13, 2026S-8 POS POST-EFFECTIVE AMENDMENT NO. 1 TO FORM S-8 EDGAR
  5. Mar 13, 2026S-8 POS POST-EFFECTIVE AMENDMENT NO.1 TO FORM S-8 EDGAR
  6. Mar 13, 2026S-8 POS POST-EFFECTIVE AMENDMENT NO.1 TO FORM S-8 EDGAR
  7. Feb 26, 2026SCHEDULE 13D/A EDGAR
  8. Feb 24, 202625-NSE EDGAR
  9. Feb 24, 2026CB/A EDGAR
  10. Feb 24, 20266-K ANNOUNCING THE RECEIPT OF MERGER CERTIFICATE AND COMPLETION DATE FOR THE MERGER EDGAR
  11. Feb 19, 2026CB/A EDGAR
  12. Feb 18, 20266-K ANNOUNCEMENT OF EXPECTED COMPLETION DATE OF MERGER WITH MATRIX IT AND MERGER CON EDGAR
  13. Feb 5, 2026CB/A EDGAR
  14. Feb 5, 20266-K MERGER TRANSACTION - FULFILLMENT OF CONDITIONS PRECEDENT EDGAR
  15. Dec 11, 2025CB/A EDGAR
  16. Dec 10, 20256-K MAGIC SOFTWARE RESULTS OF EXTRAORDINARY GENERAL MEETING HELD ON DECEMBER 10, 202 EDGAR
  17. Dec 4, 2025CB/A EDGAR
  18. Nov 18, 20256-K MAGIC SOFTWARE REPORTS THIRD QUARTER AND NINE MONTHS 2025 FINANCIAL RESULTS EDGAR
  19. Nov 10, 20256-K MAGIC TO REPORT 3RD QUARTER RESULTS ON NOV 18 EDGAR
  20. Nov 4, 2025F-X EDGAR

The 91 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How Magic Software Enterprises Ltd. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARMAGIC SOFTWARE ENTERPRISES LTD2
  • CIK0000876779
  • Employer ID (EIN)33-04774182
  • Filer statusAccelerated filer not an emerging growth company; not a shell company23
  • Incorporated inIsrael23
  • Fiscal year endsDecember 312
  • Industry code (SIC)7372 Services-Prepackaged Software2
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance2
  • Business addressYahadut Canada 1 St., Or Yehuda Israel, L3 60375012
  • Phone972-3-538-94742
  • Shares outstanding49,099,305 shares as of Dec 31, 202423
  • AuditorZiv Haft, Israel PCAOB ID 1185; it also attests to the company’s internal control over financial reporting23
  • On EDGAR sinceJan 24, 20022
  • Filings725 in all: 6-K (592), 20-F (24), SC 13G/A (24), CORRESP (14), UPLOAD (12), SC 13D/A (9), SC 13G (9), CB/A (5)2
    All 26 form types

    NT 20-F (5), 20-F/A (3), 6-K/A (3), F-3/A (3), S-8 (3), S-8 POS (3), 3 (2), 424B5 (2), EFFECT (2), F-3 (2), 15-12G (1), 25-NSE (1), 424B3 (1), CB (1), D (1), F-X (1), SCHEDULE 13D/A (1), SCHEDULE 13G/A (1)

  • Latest filingsAnnual report (20-F) May 15, 2025

Securities registered for trading

ClassSymbolExchange
Ordinary Shares, NIS 0.1 Par ValueMGICNasdaq Global Select Market

From the cover page of the 20-F filed May 15, 2025 (Section 12(b) of the Exchange Act).23

Sources

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