Magic Software Enterprises Ltd. (Nasdaq: MGIC; TASE: MGIC) and its Italian distributor LabSo Informatica have signed a strategic agreement with Deloitte in Italy, which will offer Magic's iBOLT integration suite to its customers.
Magic Software CEO Guy Bernstein said, "We are very pleased to have signed this agreement with Deloitte. We are excited to add a leading partner in Italy to the long list of our already existing salesforce.com partners around the globe."
Magic develops cloud and on-premise application platform and business integration solutions. The iBOLT simplifies integration of business applications used for enterprise resource planning (ERP), customer relationship management (CRM), logistics, supply chain management and other enterprise systems.
Magic's share price closed at $9.28 on Nasdaq yesterday, giving a market cap of $297 million, and rose 0.7% by midday on the TASE today to NIS 34.10. The share price has risen 427% on Nasdaq over the past 12 months.
Published by Globes [online], Israel business news - www.globes-online.com - on February 9, 2011
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