Registry · FORTY
Does Formula Systems (1985) Ltd. support Israel?
Yes — Formula Systems (1985) Ltd. has documented support for Israel on record. Every claim below links to its source.
Filed under: Tech companies · Companies that support Israel
Background
Formula Systems is the holding company at the centre of one of Israel's biggest technology groups, which is why it appears in questions about Israeli tech ownership. The chain matters for precise attribution: Formula controls Matrix IT, which since February 2026 owns Magic Software outright; Formula formerly controlled Sapiens and now holds an indirect 18.68% minority in it; and Formula itself is majority-influenced by Asseco Poland. Actions by Matrix, Magic or Sapiens belong to those companies, not automatically to Formula. This research found no documented cash donation by Formula Systems itself to the Israeli military or war-related charities and no formal solidarity statement — its documented links are Israeli incorporation, Israeli subsidiaries and staff, and the reservist payroll disclosure in its annual report.
SEC — Formula Systems 20-F annual report (FY2025) Calcalist / CTech
Timeline of documented support
Documented support
| Type | Date | Amount | Recipient | Sources |
|---|---|---|---|---|
| Operations in Israel | 1985 | — | State of Israel (headquarters, employment and tax base of Israel's largest IT holding group) Israeli company: Formula Systems is incorporated in Israel with principal executive offices at Terminal Center, 1 Yahadut Canada Street, Or Yehuda, its ordinary shares trade on the Tel Aviv Stock Exchange and its American Depositary Shares on Nasdaq (FORTY). It is a holding company whose operations are conducted through Israeli IT subsidiaries — Matrix IT, Michpal Technologies, Ofek Aerial Photography, Zap Group, Shamrad Electronics, Hashahar Telecom and Formula Infrastructure, plus US-based InSync Staffing — and the affiliate TSG Advanced IT Systems (42.71%). Its own largest shareholder is Poland's Asseco Poland S.A., so the group is Israeli-operated under Polish control. | |
| Operations in Israel | 2026-02-24 | — | Matrix IT Ltd. and Magic Software Enterprises Ltd. (both Israeli, both controlled by Formula) Formula consolidated its Israeli IT holdings: on February 24, 2026 Matrix and Magic Software — both then controlled by Formula, which held about 48.2% of Matrix and 46.7% of Magic before the deal — completed an all-stock reverse triangular merger in which former Magic shareholders received 31.125% of Matrix and prior Matrix holders kept 68.875%. Magic survived as a wholly owned subsidiary of Matrix, creating an Israeli-headquartered IT group valued at roughly $4 billion with more than 15,000 professionals, held through Formula's Israeli ownership chain. | |
| Acquisition | 2025-12-17 | — | Advent International (buyer of Sapiens); Formula retained an indirect 18.68% stake Formula sold control of its insurance-software subsidiary Sapiens International to Advent International in a take-private completed on December 17, 2025 at $43.50 per share. Rather than take cash, Formula retained an indirect 18.68% minority interest in Sapiens through SI Swan UK Topco Limited, so it kept a stake in the Holon-based Israeli operation while ceasing to control it. | |
| Employee support | 2026 | — | Employees of Formula's Israeli subsidiaries called up for IDF reserve service In its FY2025 annual report Formula disclosed that in the renewed conflict with Iran and Hezbollah that began in February 2026, 500 employees of its subsidiaries in Israel were called up for reserve military service, and stated that salaries paid to mobilized employees are not fully reimbursed by the State of Israel — meaning the group itself absorbed part of the payroll cost of its reservist staff. The company frames this as a limited adverse effect on financial performance; the disclosure is a corporate filing, not a solidarity campaign. |
Frequently asked questions
Did Formula Systems (1985) Ltd. donate money to Israel or Israeli causes?
We have no records of cash donations, but Formula Systems (1985) Ltd. has documented support of other kinds (Operations in Israel, Acquisition, Employee support). See the records on this page.
Where does this information come from?
Every record on this page links to its source — news reports, official company statements, tax filings, or government records. 5 distinct sources are cited for Formula Systems (1985) Ltd.. Our methodology page explains the full verification process.
Sources & citations
Record last updated: 2026-07-30
- SEC — Formula Systems 20-F annual report (FY2025) sec.gov
- Calcalist / CTech calcalistech.com
- Matrix (official) — Matrix and Magic to merge into $4 billion IT giant matrix-globalservices.com
- Globes en.globes.co.il
- JNS jns.org