1 Sep 2010 07:10
EMBLAZE LTD (`Emblaze' or `the Company') MANAGEMENT UPDATE
Ra'anana, Israel, 01 September 2010: Emblaze wishes to inform that it is in advanced negotiations for the sale of its holdings in Formula Systems (1985) Ltd.
An appropriate announcement shall be issued upon consummation of the agreement.
For further information contact:
Jonathan Shillington/Alistair Scott, Grayling +44 20 7932 1850 alistair.scott@grayling.com
About Emblaze
Emblaze Ltd is a group of technology companies addressing both growth and innovation activities thus combining the stability of "bread and butter" mature technology enterprises with "high-risk / high-reward" investments in innovation.
Our Growth arm includes Formula Systems , which harbors the following subsidiaries: Magic Software Enterprises Ltd. develops, markets and supports composite application development and deployment platforms with a service-oriented architecture (SOA), including application integration and business process management (BPM), with existing and legacy systems; Matrix IT Ltd. (TASE: MTRX) is one of Israel's leading integration and information technology services companies, active in four principal areas: software solutions and services, software products, infrastructure solutions and hardware products, and training and assimilation.; Sapiens International Corporation N.V. is a provider of IT solutions that modernize business processes to enable insurance and other companies to quickly adapt to changes.
Our Innovation arm includes ELSE Ltd., a design house for cutting-edge mobile technology; EMOZE, a provider of Push Email and synchronisation technology for mobile devices; and ZONE-IP (Emblaze V CON), a provider of wireless video communications technologies and conferencing solutions for operators and enterprise markets over IP networks.
The Emblaze Group is traded on the London Stock Exchange since 1996. www.Emblaze.com
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