Formula Systems ( (FORTY) ) has shared an announcement.
On March 20, 2025, Formula Systems announced its financial results for the fourth quarter and full year of 2024, highlighting a 5.2% increase in full-year revenues to $2.76 billion and a 24.5% rise in net income to $79.7 million. The company also declared a cash dividend and reported compliance with all financial covenants. Additionally, a significant merger transaction was announced between Matrix and Magic Software, which, if completed, will create a more robust entity with a market capitalization of approximately $2.1 billion, enhancing the company’s global competitiveness.
More about Formula Systems
Formula Systems (1985) Ltd. is a global information technology group that provides software consulting services, computer-based business solutions, and develops proprietary software products. The company operates through its subsidiaries and affiliates, focusing on innovation, professionalism, agility, and transparency to deliver value to its customers.
YTD Price Performance: 15.66%
Average Trading Volume: 925
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $1.46B
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