About Formula Group
Formula Group is a company based in Or Yehuda (Israel) founded in 1985 was acquired by Asseco in September 2010. It operates as a Professional Services. Formula Group has completed 1 acquisition, including Unique. Formula Group offers products and services including Software Consulting Services and IT Solutions. Formula Group operates in a competitive market with competitors including UST, Genpact, 1&1 IONOS, Happiest Minds and Accenture, among others.
- Headquarter Or Yehuda, Israel
- Stage Public
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Sectors
Technology
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Email
Locked
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Phone
Locked
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Website
Locked
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Social
Locked
- Legal Name Formula Systems (1985) Ltd.
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Annual Revenue
$2.8 B (USD)5.6as on Dec 31, 2024
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Net Profit
$80.87 M (USD)24.92as on Dec 31, 2024
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EBITDA
$386.66 M (USD)5.77as on Dec 31, 2024
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Latest Funding Round
$36 M (USD), Post-IPO
Dec 28, 2004
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Investors
Asseco
& 1 more
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Employee Count
Not available
- Investments & Acquisitions
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Acquired by
Asseco
(Sep 03, 2010)
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IPO & Listings of Formula Group
Formula Group is a publicly listed company on the TASE with ticker symbol FORTY in Israel, operating in the Technology services sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of Formula Group
Formula Group offers a comprehensive portfolio of products and services, including Software Consulting Services and IT Solutions.
Software consulting services are provided for business solutions.
IT solutions are designed to enhance business productivity.
People of Formula Group
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Funding Insights of Formula Group
Investors in Formula Group
Formula Group has secured backing from 2 investors, including venture fund investors. Prominent investors backing the company include Asseco and FIMI Opportunity Funds.
| Investor | Description | Founded Year | Domain | Location |
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Growth equity is provided to industrial sector companies by FIMI.
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Locked | Locked | Locked | |
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Omnichannel banking solutions are provided for internet and mobile platforms.
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Locked | Locked | Locked |
Investor details for Formula Group
Investor domains, locations, round participation, and complete history require an active premium plan.
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Investments & Acquisitions by Formula Group
Formula Group has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Unique.
Investment portfolio details for Formula Group
Portfolio company identities, transaction dates, round details, and investment values require an active premium plan.
- Portfolio identities
- Transaction dates
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| Company Name | Description | Domain | Location | Founded Year | Amount |
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HRMS platform is offered online for enterprises in education sector.
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Locked | Locked | 1989 | Locked |
Complete acquisition details for Formula Group
Transaction dates, acquired stakes, disclosed values, domains, and locations require an active premium plan.
- Transaction dates
- Acquired stakes
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- Domains and locations
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Financial Statements - Formula Group
Detailed financials for Formula Group
Historical revenue, profit, statement rows, ratios, and trend charts require an active premium plan.
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- Profit trends
- Statement rows
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Formula Group Comparisons
Peer comparison for Formula Group
Named peer metrics, headcount, funding, location, and side-by-side benchmarks require an active premium plan.
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Competitors of Formula Group
Formula Group operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as UST, Genpact, 1&1 IONOS, Happiest Minds and Accenture, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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| Locked | Locked | Locked |
High-quality office furniture is provided by UST for various needs.
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Provider of end-to-end business process outsourcing services
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| Locked | Locked | Locked |
Cloud infrastructure and hosting services are provided by 1&1 IONOS.
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| Locked | Locked | Locked |
IT outsourcing services are delivered across multiple business lines.
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| Locked | Locked | Locked |
IT and management consultancy services are provided globally.
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| Locked | Locked | Locked |
Application development, cloud, cybersecurity, and business intelligence services are provided.
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Detailed competitors of Formula Group
Competitor domains, locations, full profiles, and operating metrics require an active premium plan.
- Domains and locations
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Verified entity values are shown only after access is granted.
Latest news on Formula Group
Complete news archive for Formula Group
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Frequently Asked Questions about Formula Group
Formula Group was founded in 1985 and raised its 1st funding round 19 years after it was founded.
Formula Group is headquartered in Or Yehuda, Israel.
Guy Bernstein is the current CEO of Formula Group.
Annual revenue of Formula Group is $2.8B as on Dec 31, 2024.
Formula Group, through Formula Systems (1985) Ltd., is involved in delivering global information technology solutions and software consulting services. IT solutions and systems are designed and implemented to enhance productivity of clients existing IT assets. Operations are managed effectively, and business risks are reduced in dynamic environments. Services and software solutions are utilized by sectors including banking, insurance, healthcare, energy, telecommunications, defense, and high-tech industries. Presence is maintained in Israel and worldwide, focusing on creating impactful software for present and future needs. Continuous improvement in competencies and investment in research and development are prioritized for customer success.
Formula Group's top competitors include Happiest Minds, Mavenir and 1&1 IONOS.
Formula Group offers Software Consulting Services and IT Solutions.
Yes, Formula Group is publicly traded on TASE under the ticker symbol FORTY.
Formula Group has made 1 acquisition, including Unique.
Formula Group has 2 investors. Key investors include Asseco, and FIMI Opportunity Funds.
The ticker symbol of Formula Group is FORTY on TASE.