Magic Software Enterprises Ltd. (Nasdaq: MGIC; TASE: MGIC) has signed a three-year $1.9 million with US software solutions developer AOD Software Inc. for long-term care providers.
AOD’s software suite, which is developed in part using Magic Software’s uniPaaS application platform, provides over 45 interconnected modules designed for retirement homes, assisted living facilities, skilled nursing home facilities, rehabilitation centers, and independent living and home health agencies. Inc Magazine cited AOD as one of the fastest growing software companies in the US.
AOD CEO Aric Agmon is a former Magic executive.
Magic's share price fell 1.3% by midday today to NIS 20.18, after rising 0.3% on Nasdaq yesterday to $5.26, giving a market cap of $169 million.
Published by Globes [online], Israel business news - www.globes-online.com - on January 11, 2012
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