Company profile

The Formula Systems group companies are engaged in information technology and operate in 60 countries worldwide. The Formula Systems group companies are listed on the Tel-Aviv Stock Exchange as well as on the American NASDAQ Global Markets. Formula Systems through its subsidiaries and affiliated companies offers comprehensive, proprietary and non-proprietary IT solutions for all sectors of the economy. Own solutions and services account for ca. 80% of Formula Systems total revenues and together with the operations of its controlling share holder, Asseco Poland S.A this puts us on the 6th place among the top software vendors in Europe.

Formula Systems Group specializes in the production and development of software. We develop and implement centralized and comprehensive IT systems and advanced software solutions for insurance institutions that have been implemented in the sector's major companies as well as IT systems dedicated to public administration and banking sector . 

Formula systems is also successful in providing its products and services to the defense sector, utilities sector, telecommunication, healthcare, local administration, and is recognized as a market leader in Israel in the implementation of fastest-growing technologies, such as cloud, cyber, digital, data, DevOps and AI, which enable the company to create significant value for its customers in managing, streamlining, accelerating and making their businesses thrive.

To explore synergies gained from mergers and acquisitions Formula systems has established Business Units. One of the main goals is the integration and coordination of Formula systems operations within particular sectors/areas and the coordination of regional product strategy. The other one is to maximize benefits from existing products, knowledge and competences. Business Units also give the opportunity to share experiences coming from Asseco companies.

Our ordinary shares are traded on the TASE and our ADSs are traded on the NASDAQ Global Select Market (FORTY). 

 

In November 2010, Formula was acquired by Asseco Poland S.A ("Asseco" https://asseco.com/) a Polish IT company listed on the Warsaw Stock Exchange. Asseco is the largest Polish IT company and one of the ten six largest listed IT companies in Europe. As of December 31, 2023 Asseco owns approximately 26.8% of our outstanding ordinary shares

 

The Asseco Group companies offer comprehensive innovative IT solutions for all sectors of the economy. Its customer portfolio includes leading global banks and financial institutions, public institutions, healthcare sector, agriculture institutions, international organizations, as well as small and medium-sized enterprises and utility.