Magic subsidiary wins contracts valued at $600,000

The new contracts include engagements in business intelligence, integration and security outsourcing.

Magic Software Enterprises (Nasdaq: MGIC), which provides integration and development technology, announced today that its wholly owned subsidiary CoreTech Consulting Group won two major project deals with an initial combined value of around $600,000.

In these projects, CoreTech will provide development and enterprise application integration (EAI) services to a global human resources consulting company and outsourced services for a new security tool deployment for a global pharmaceutical company, Magic stated.

For the pharmaceutical company, CoreTech will execute the deployment of the security tool to 30,000 end users throughout North America. This expands even further CoreTech's Support Services Practice in the pharmaceutical industry, the company said.

"CoreTech continues to demonstrate its ability to win and execute substantial projects," said Mark Redlus, president and CEO of CoreTech. "As the market continues to show signs of recovery, CoreTech is poised and ready to deliver. By combining CoreTech's talents in integration, project management, business analysis, architecture, and development, our clients continue to gain immense benefit in the areas of speed of deployment and return on investment."

Published by Globes [online] - www.globes.co.il - on 8 October, 2003

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