Formula Systems (1985) Ltd. (Formula) is an information technology (IT) solutions and services company based in Israel. The Company is principally engaged in providing software consulting services, developing software products and providing computer-based business solutions. Formula delivers its solutions in over 50 countries worldwide to customers with IT services needs, including a number of large companies. The Company operates in two principal business areas: IT services and software solutions. Formula designs and implements IT solutions, which improve the productivity of its customers’ existing IT assets. The Company provides its IT services across the system development life cycle, including definition of business requirements, system analysis, technical specifications, coding, testing, training, implementation and maintenance. Formula designs, develops and markets software solutions for sale in selected niche markets worldwide.