Formula Systems (1985) Ltd

Stock Symbols
TASE
:
FORT
TASE
:
MTRX
ETR
:
FSY
NASDAQ
:
FORTY
FRA
:
FSY
company headquarters
Israel
Company categories
Occupations

A group of IT companies. Its subsidiary Matrix IT operates in an illegal settlement in the occupied West Bank. Its subsidiary TGS developed the Israeli military's command and control system.

Formula Systems is a technology holding company. One of its subsidiaries, Matrix IT, is one of the biggest IT companies in Israel.

Matrix's Talpiot Technologies offshore outsourcing project works out of Modi'in Illit settlement in the occupied West Bank, where the company operates two offices. It provides software development and QA, and call center services.

In 2008 Matrix won a NIS 20 million tender to develop the training system of the Israeli army’s armored personnel carrier. In addition, the company developed a unified system for all of the Israeli army’s websites.

The company's subsidiary, John Bryce, won a NIS 5 million contract to train the Israeli Army units and the Israeli Ministry of Defense in the field of information and cyber security.

Matrix is an authorized provider of the Israeli Ministry of Defense. Recently, the company assimilated a new system for Ministry's computing unit.

Matrix won a tender to develop and implement the Israeli Government's computing project. The company also provides strategic councelling to governmental offices since 2007.

In addition, the company operates the operation center for Israeli aviation security.