October 18, 2004 - Bangalore

MindTree Partners with Magic Software

MindTree will now be able to offer a greater suite of business integration solutions

Bangalore, Oct 18, 2004: MindTree Consulting, an international IT services company, today announced that it has further enhanced its offerings in the Enterprise Application Integration (EAI) space.  MindTree has signed up with Magic Software Enterprises (Nasdaq: MGIC), a leading provider of state-of-the-art business integration and development technology. The partnership allows MindTree to offer Magic’s business integration solutions to its customers.

Today, MindTree offers a broad range of integration solutions and services to its customers.  The tie up with Magic Software will allow MindTree to offer its customer customized EAI solutions based on Magic’s iBOLT Integration Suite. 

iBOLT's open, standards-based, service-oriented architecture provides an easy-to-use, flexible tool that delivers rapid return on investment.  iBOLT's  comprehensive integration framework offers advanced business integration, process management and activity monitoring capabilities The framework enables rapid project development and deployment, lower implementation and maintenance costs and minimizes risks.

“MindTree sees a growing market for EAI implementation across businesses.  The tie up with Magic will further strengthen MindTree’s skill in addressing project-based integration needs in the EAI space, and should increase customer satisfaction.” said MindTree President and Chief Executive Officer, IT Services, Krishnakumar Natarajan.

“Magic Software is pleased to partner with MindTree,” said Magic Software Chief Executive Officer Menachem Hasfari.  “iBOLT’s rapid return on investment and  MindTree’s experience and expertise is the ideal combination in today’s dynamic and competitive EAI market.”

About MindTree

MindTree Consulting is an international IT company that delivers affordable business and technology solutions through global software development. Co-headquartered in Somerset, NJ and Bangalore, India, the company approaches technology initiatives in a business context, with the industry knowledge of a seasoned management team and employees exceptionally skilled in technology, business analysis and project management.  MindTree Consulting develops applications to help companies enhance their enterprise operations.  The company also delivers R&D services and designs re-usable building blocks for hi-tech companies.  MindTree is the world's youngest company to be assessed at Level 5 in both CMMi and P-CMM.  MindTree has been ranked among the top five Great Places to Work in 2004 in a study conducted by Grow Talent Company and Businessworld.  MindTree has also been rated as one of the Best Employers in India for the second consecutive year in 2004 by Hewitt Associates, please visit www.mindtree.com.

About Magic Software Enterprises

Magic Software Enterprises, a subsidiary of Formula Systems (Nasdaq: FORTY), develops, markets and supports software development, deployment and integration technologies that enables enterprises to accelerate the process of building and deploying applications that can be rapidly customized and integrated with existing systems. Magic technologies, applications and professional services are available through a global network of subsidiaries, distributors and Magic solutions partners in approximately 50 countries. For more details, please visit http://www.magicsoftware.com/.  

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