Matrix Merges With Magic in IT Shakeup
Categories: Capital Markets, Corporate and M&A
Matrix, a leading Israeli IT services provider, has signed a MOU to acquire all outstanding shares of Magic Software Enterprises Ltd.
The deal, structured as a reverse triangular merger, will make Magic a private subsidiary of Matrix. Upon completion, Magic’s shareholders will hold approximately 31.125% of Matrix’s share capital.
The transaction remains subject to due diligence, fairness opinions, regulatory approvals, and the consent of both companies’ boards and shareholders. The merger strengthens Matrix’s position in Israel’s IT sector, consolidating its software development and digital transformation capabilities.
Gornitzky advised Magic, Herzog advised Matrix, while Carter Ledyard & Milburn acted as U.S. securities counsel.
