Reported Earlier, Magic Software And Matrix I.T Sign MOU For Strategic Merger To Form $2.1B Global IT Services Leader

Author: Benzinga Newsdesk | March 11, 2025 02:40am

The combined entity's aggregate market value is expected to be $2.1 billion (approximately 7.7 billion ILS), a valuation that would place it among the largest publicly traded IT services companies in the U.S and in Europe. Had the Companies already merged in 2024, the combined entity would have reported the following results in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board:

• Revenues: $2.1 billion.
• Gross profit: approximately $382 million (Gross margin: 18.6%).
• Operating income: approximately $183 million (Operating margin: 8.9%).
• Net income attributable to non-controlling interests: approximately $110.6 million (Net margin: 5.4%).

The combined entity is expected to operate in approximately 50 countries, serve around 6,000 active clients, and employ over 15,000 employees.

Posted In: MGIC