Formula Systems (1985) Ltd.
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in mil. unless spec.Company Description
- CEO
- Guy Shimon Bernstein
- Full Time Employees
- 21,900
- Sector
- Technology services
- Industry
- Information technology services
- Address
- Terminal Center Or Yehuda HM Israel 6037501
- IPO Date
- Jan 1, 1991
- Website
- formulasystems.com
- Similar Companies
- Business
- Formula Systems (1985) Ltd. is a global information technology holding company that, through its subsidiaries and affiliates, provides proprietary and non-proprietary software solutions; IT professional services; software product marketing and support; computer infrastructure and integration solutions; and learning and integration services. The company offers IT software solutions and consulting; computer and communication infrastructure; web content management, database mining, application integration, data management, and software development tools; professional training for developers, soft skills, and management; as well as insurance platforms including Sapiens CoreSuite, Sapiens IDITSuite for property and casualty; Sapiens UnderwritingPro, Sapiens ApplicationPro, Sapiens IllustrationPro, and Sapiens ConsolidationMaster for life, pension, and annuities; Sapiens Cloud-based DigitalSuite; reinsurance solutions such as Sapiens ReinsuranceMaster, Sapiens ReinsurancePro, and Sapiens Reinsurance GO; workers’ compensation and medical professional liability solutions; financial and compliance tools like Sapiens FinancialPro, Sapiens StatementPro, and Sapiens Reporting Tools; and Sapiens Decision enterprise platform, alongside cloud computing, strategic consulting, outsourcing, and vertical software for sectors including banking, insurance, healthcare, energy, telecommunications, public services, defense, and high-tech. Incorporated in 1985 and headquartered in Or Yehuda, Israel, Formula Systems operates internationally with over 22,000 employees, serving customers in Israel and worldwide as a member of the Asseco Group. Recent developments include Sapiens' acquisitions of AdvantageGo and Candella in the second quarter of 2025 to bolster property & casualty and life insurance capabilities; an agreement for Advent International to acquire Sapiens for $2.5 billion, with Formula retaining a minority stake to accelerate AI and SaaS advancements in insurance technology, expected to close in late 2025 or early 2026; and a strategic merger announcement in the third quarter of 2025 projected to create a combined IT services entity valued over $3.4 billion with enhanced U.S. market presence.
Company News
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Formula Systems Reports Second Quarter and First Half 2025 Financial Results
Formula Systems Reports First Quarter 2025 Financial Results
Formula Systems Files Annual Report on Form 20-F for the Year Ended December 31, 2024
Formula Systems Reports Fourth Quarter and Full Year 2024 Financial Results
Formula Systems Reports Financial Results for the Third Quarter and First Nine Months Period Ended September 30, 2024
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