Magic Signs $1.5M Software Licensing Deal with UK Financial Institution
Magic Software Enterprises (NASDAQ: MGIC) announced today that it has signed a 3-year contract with a leading UK financial institution valued at approximately $1.5 million. The deal includes Magic's AppBuilder software licenses and maintenance services.
Acquired by Magic in 2011, AppBuilder provides a comprehensive application development infrastructure for large-scale and complex environments employed by many Fortune 1000 enterprises around the world. AppBuilder enables development teams to quickly and easily build, deploy, and maintain large-scale, custom-built business applications. Because AppBuilder uses a platform-independent model and generates code for COBOL, Java/J2EE, and C#, enterprises get the benefit of easy-to-maintain applications, without being dependent on any particular technology.
"We are very pleased to have a large and prestigious AppBuilder client firmly demonstrate its continued confidence in AppBuilder after our recent acquisition," said Guy Bernstein, CEO of Magic Software Enterprises. "This deal is evidence that AppBuilder has proven to be a good fit and an important addition to the Magic family, broadening our product portfolio, strengthening our position as a global provider