A publicly traded Israeli provider of IT solutions.

The company is the controlling shareholder in Matrix IT (49.50%). Matrix operates a “nearshore” outsourcing project called “Talpiot” in the Modi'in Illit settlement in the occupied West Bank. The company is an authorized provider of the Israeli Ministry of Defense. In 2008, it 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. Matrix’s subsidiary, John Bryce, won a NIS 5 milion contract to train the Israeli Army units and the Israeli Ministry of Defense in the field of information and cyber security.

Another subsidiary, TSG IT Advanced Systems, jointly held by Formula Systems (50%) and Israel Aerospace Industries (IAI) (50%), is a subcontractor in a computing centers project of the Israeli military. The project, led by IAI, is estimated at 600 million NIS and is the largest IT tender issued by the Israeli Ministry of Defense.