Magic buys Allstates Technical Services for USD10m

Magic Software Enterprises Ltd. (NASDAQ: MGIC) said it has entered into an agreement with KBR Inc. (NYSE: KBR) to acquire the US enterprise operations of KBR subsidiary, Allstates Technical Services, LLC, for USD10m.

The acquisition is expected to be finalised by mid-November 2013, subject to the fulfillment of certain conditions defined in the acquisition agreement.

Allstates Technical Services, LLC is a US-based full-service provider of consulting and staffing solutions for IT, Engineering and Telecom personnel. With a 60-year history, Allstates brings a strong reputation and an experienced growth-focused management team serving some of the world´s leading telecom and technology companies.

The acquisition was facilitated by Pauli Overdorff, president of Alarian Associates.

Magic Software Enterprises empowers customers and partners around the globe with smarter technology that provides a multichannel user experience of enterprise logic and data. For more information, visit http://www.magicsoftware.com.

KBR is a global engineering, construction and services company supporting the energy, hydrocarbon, government services, minerals, civil infrastructure, power, industrial, and commercial markets. For more information, visit http://www.KBR.com.