About Formula Group
Formula Group is a publicly listed company based in Or Yehuda (Israel) founded in 1985, and was acquired by Asseco in September 2010. IT services and solutions are provided by Formula Systems. It operates on a Professional Services model. Formula Group has completed 1 acquisition, including Unique. Its chief executive, as recorded, is Guy Bernstein. Formula Group offers products and services including Software Consulting Services and IT Solutions. Its focus areas include Information Technology and Software Services. Its legal entity is Formula Systems (1985) Ltd.
Company details
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.
- Headquarters Or Yehuda, Israel
- Stage Acquired
- SectorsTechnology
- Email••••••••
- Phone•••• ••••
- Website formulasystems.com/en/home
- Social LinkedIn
- Acquired by Asseco (Sep 2010)
- Legal Name Formula Systems (1985) Ltd.
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.
Funding Insights of Formula Group
- Total Rounds 1
- Last Round Post-IPO — $36M
- First Round $36M
(Dec 2004)
- Investors Count 1
All 1 funding rounds of Formula Group with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec 2004 | $36M | Post-IPO | – | – |
2 investors in total: 2 institutional.
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 |
|---|---|---|---|---|
Growth equity is provided to industrial sector companies by FIMI. | fimi.co.il | Tel Aviv, Israel | ||
Omnichannel banking solutions are provided for internet and mobile platforms. | 1987 | asseco.com | Rzeszow, Poland |
Investor details for Formula Group
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
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People of Formula Group
10 people are tracked at Formula Group (5 in leadership, 4 in board & advisors, 1 in team).
| Name | Role | Group |
|---|---|---|
Guy Bernstein | CEO | Leadership |
Asaf Berenstin | CFO | Leadership |
Maya Solomon-Ella | COO | Leadership |
Avivit Gruner | Head of SOX and Internal Audit | Leadership |
Tammy Ohana Koll | CTO | Leadership |
Dafna Cohen | Director | Board & advisors |
Eli Zamir | Director | Board & advisors |
Rafal Kozlowski | Director | Board & advisors |
Marek Panek | Director | Board & advisors |
Eyal Rusnak | M&a Manager | Team |
Complete people profiles for Formula Group
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
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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.
- IPO date25 Feb 2010
- Listed onTLV: FORTY
- Listed entityFormula Systems (1985) Ltd.
- Exchange sectorTechnology services
- ISINIL0002560162
- Share price35,140.00 ILA (+0.51% on the day) · 2026-10-14
- Market capitalisation5,360,999,749.00 ILA
- Price to earnings2.7
- EPS (diluted, trailing year)128.93 ILA
- Dividend yield1.87%
- Volume (last session)3,368
Financials of Formula Group
| Year | Revenue | Net income | EBITDA |
|---|---|---|---|
| 2025 | 9.06B ILS | 97.2M ILS | 1.17B ILS |
| 2024 | 8.21B ILS | 294.9M ILS | 1.09B ILS |
| 2023 | 9.67B ILS | 236.1M ILS | 1.33B ILS |
| 2022 | 8.64B ILS | 273.5M ILS | 1.17B ILS |
| 2021 | 7.77B ILS | 176.3M ILS | 1.07B ILS |
Detailed financial statements for Formula Group
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Investments & Acquisitions by Formula Group
Formula Group has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Unique.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
HRMS platform is offered online for enterprises in education sector. | unq.co.il | Jerusalem, Israel | 1989 | Nov 2019 | $17.58M |
Complete acquisition details for Formula Group
Acquired stakes, deal sources and the complete acquisition history require an active premium plan.
- Acquired stakes
- Deal sources
- Complete history
- Exports
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Timeline of Formula Group
Web traffic of Formula Group
The website of Formula Group (formulasystems.com) receives about 1.3K visits a month.
- Monthly visits1.3K
▲ 132.7% vs previous month
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Related news about 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 CEO of Formula Group, as recorded in our data.
Annual revenue of Formula Group is $2.84B as on Dec 31, 2025.
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 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.
Formula Group operates through Formula Systems (1985) Ltd..
Yes. Formula Group was acquired by Asseco in September 2010.