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BRIEF: Magic completing Leumi upgrade deal: Magic's uniPaaS application platform will enable Bank Leumi to improve their applica

Posted on: Wed, 14 Oct 2009 15:44:00 EDT

Symbols: MGIC

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Oct 14, 2009 (Globes - McClatchy-Tribune Information Services via COMTEX) --
MGIC | Quote | Chart | News | PowerRating -- Business and process integration solutions provider Magic Software Enterprises Ltd. (Nasdaq: MGIC; TASE: MGIC | Quote | Chart | News | PowerRating) and Kopel Reem Ltd. have migrated 60 applications to uniPaaS for Bank Leumi (TASE: LUMI). The project is nearly complete. Magic did not disclose the value of the project. The bank is a regular customer of Magic.

The uniPaaS application platform will enable Bank Leumi to improve their application and data security, as well as to develop and deploy advanced banking software, including rich Internet applications that boost the functionality and user experience of locally installed software.

Magic Software CEO Yoram Aharon said, "Since the release of uniPaaS nearly a year ago, many Israeli businesses have upgraded their older Magic Software platforms to the latest uniPaaS model."

Magic's share closed at $1.75 on Nasdaq yesterday, giving a market cap of $56 million. The share rose 3.2 percent by midday today on the TASE to NIS 6.56.

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For full details on Magic Software Enterprs (MGIC) MGIC. Magic Software Enterprs (MGIC) has Short Term PowerRatings at TradingMarkets. Details on Magic Software Enterprs (MGIC) Short Term PowerRatings is available at This Link.

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