Magic acquires majority interest in Roshtov

Magic Software Enterprises Ltd. (NASDAQ: MGIC), has entered into a definitive agreement to acquire a 60 percent equity interest in Roshtov Software Industries Ltd, the developer of the Clicks development platform, the company said.

The Clicks platform is used in the design and management of patient-file oriented software solutions for managed care and large-scale healthcare providers. The aggregate purchase price for the 60 percent interest is approximately USD21 million in cash and the company will have the option to acquire 100 percent of the equity in Roshtov. The transaction is expected to close during the third quarter.

Magic Software Enterprises is a global provider of software platforms for enterprise mobility, cloud applications, and business integration, providing a multichannel user experience of enterprise logic and data.