QualityStocks'  Instablog

Send Message
QualityStocks (www.qualitystocks.net) assists publicly traded companies by getting their story out to the investment community while helping investors discover emerging companies with plenty of growth potential. Our name, QualityStocks, emphasizes our commitment to connect subscribers with... More
My company:
My blog:
QualityStocks Micro-Cap and Small-Cap Blog
  • Magic Software Enterprises, Ltd. (MGIC) Acquires BluePhoneix’s AppBuilder Platform for $13.5 Million 0 comments
    Dec 28, 2011 1:37 PM | about stocks: MGIC

    Today, Magic Software Enterprises, Ltd. announced that it has acquired BluePhoneix’s AppBuilder activity for $13.5 million. AppBuilder is a comprehensive application development infrastructure that enables development teams to build, deploy, and maintain large-scale, custom-built business applications. Currently used by many Fortune 100 companies around the globe, AppBuilder is recognized in the industry as a powerful, model-driven tool.

    According to the acquisition agreement, Magic Software paid out a net amount of $13.5 million. $4 million of the total purchase amount will be held in escrow accounts pending fulfillment of certain obligations of BluePhoenix under the sale agreement.

    Regarding the acquisition, Guy Bernstein, CEO of Magic Software, remarked, “We are pleased to have completed this important acquisition, which broadens Magic Software’s product portfolio and strengthens our presence in numerous global markets, including Asia and Europe. We plan to develop and invest in all aspects of AppBuilder’s activity, including offering increased support for its customers.”

    Please see disclaimer on the QualityStocks website: disclaimer.qualitystocks.net

    Stocks: MGIC
Back To QualityStocks' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.