Magic Software Enterprises Completes Merger with Matrix I.T Ltd., Shares Halted and Delisted
summarizeSummary
Magic Software Enterprises announced the completion of its merger with Matrix I.T Ltd., leading to the immediate halt and upcoming delisting of its shares from Nasdaq and TASE.
check_boxKey Events
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Merger Completed
Magic Software Enterprises announced the completion of its reverse triangular merger with Matrix I.T Ltd. on February 24, 2026, following the receipt of the merger certificate.
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Trading Halted & Delisting Confirmed
Trading in Magic Software's ordinary shares was halted on February 23, 2026, and will be suspended from Nasdaq and the TASE effective February 25, 2026, as the company becomes a private entity.
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Share Exchange Ratio
Eligible shareholders will receive 0.5878202 ordinary shares of Matrix for each one (1) Magic Software ordinary share.
auto_awesomeAnalysis
This filing confirms the definitive completion of the reverse triangular merger between Magic Software Enterprises and Matrix I.T Ltd. The receipt of the merger certificate on February 24, 2026, finalized all conditions precedent. As a direct consequence, trading in Magic Software's ordinary shares was halted on February 23, 2026, and will be suspended from Nasdaq and the TASE effective February 25, 2026. The company will now operate as a private, wholly-owned subsidiary of Matrix. This marks the end of Magic Software Enterprises as an independent publicly traded entity, fundamentally altering the investment thesis for its shareholders who will now receive Matrix shares.
At the time of this filing, MGIC was trading at $17.38 on NASDAQ in the Technology sector, with a market capitalization of approximately $853.3M. The 52-week trading range was $11.65 to $28.00. This filing was assessed with negative market sentiment and an importance score of 10 out of 10.