Group Structure

Matrix (TASE: MTRX.TA)

Matrix, which employs 11200 IT professionals, is the leading IT company in Israel as demonstrated in recent research reports of the Israeli IT market, published by the research companies IDC and STKI. Matrix executes some of the largest IT projects in Israel.

Sapiens (NASDAQ and TASE: SPNS)

Sapiens powers insurers to transform in speed and agility, enabling them to thrive through the transformational changes of our time.

Magic Software (NASDAQ and TASE: MGIC)

Magic Software Enterprises (NASDAQ: MGIC) empowers customers and partners around the globe with smarter technology that provides a multi-channel user experience of enterprise logic and data.

TSG

TSG IT Advanced Systems Ltd. (TSG) is a global provider of C4ISTAR, Intelligence, HLS and Cyber Security solutions with a track record of over 50 years in successful development, integration and delivery of mission-critical, turnkey solutions to various military forces, governmental agencies and corporations worldwide.

Michpal Group

Michpal- In January 2017, Formula acquired all of the share capital of Michpal, an Israeli registered company, is a developer of proprietary, on-premise payroll software solution for processing traditional payroll stubs to Israeli enterprises and payroll service providers. Michpal also developed several complementary modules such as attendance reporting, which are sold to its customers for additional fees. As of December 31, 2016, Michpal serves approximately 8,000 customers, most of which are long-term customers.

Shamrad

Brief text about Shamrad

inSync

inSync is a U.S. based full-service provider of consulting and staffing solutions for IT, engineering and other professional staff (i.e. accounting and finance, administrative, customer service, healthcare, human resources, manufacturing, marketing/sales, and operations). InSync currently supports more than 30 VMS program customers with employees in over 40 states.

zap group

Zap group is proud to be the largest group of consumer websites in Israel. The group manages dozens of leading consumer websites of varied content worlds. The group's websites offers visitors a convenient searching experience, with various advanced tools that enable consumers to take wise decisions. Zap Group provides a broad and rich platform for owners of small and medium-sized businesses in Israel that assists them with growing and getting bigger. Tens of thousands of businesses enjoy our advanced digital marketing and publicity solutions: The establishment of a digital presence for the business is adapted to all devices, publicity promotion at the group's websites, web publicity for well-defined target populations on leading search engines and social medias, while using the group's Big Data resources, and combining features that enable the business to receive quality applications from relevant website visitors, and more. Fingers move from the pages to mobile devices Zap Group is one of the oldest and well-established companies in the Israeli economy. Our story begins in 1968. Back then, we were still being called "Golden Pages". Beginning in the 2000's, the company has acquired a variety of content websites, guides and portals of varied fields, and turned into the "Golden Pages" group. In the end of the year 2011, the Company rebranded itself, and turned into the "Zap Group", while experiencing a strategic shift, whose purpose is to empower the Israeli consumer in various areas, and make the information accessible by the varied digital means. Also, while providing a wide and varied basket of marketing and publicity solutions adapted to small and medium-sized businesses in Israel, in various business segments. As part of the company's renewal process, we combined our 45-year experience with a novel approach and advanced capabilities, and turned from a phone number index into Israel's leading digital commercial content platform.

Ofek Aerial Photography

For more than 30 years, Ofek Aerial Photography is one of the leading companies in Europe in the fields of aerial and satellite mapping, geographic data collection and processing, and in the provision of services in numerous geographic applications. In a technological age that develops at a dynamic pace, Ofek Aerial Photography invests heavily in one of the most advanced technological infrastructures in the world. The company offers a variety of unique products and services in local and global markets, with the aim of providing complete and comprehensive solutions to its customers in Israel and worldwide.