Formula is an Israeli holding company that manages a portfolio of technology businesses specializing in IT services and software. The company operates through its subsidiaries, primarily Matrix and Michpal. Matrix is the largest IT services provider in Israel, delivering software development, systems integration, cloud infrastructure, and cybersecurity services to sectors including banking, defense, and government. Matrix recently merged with Magic Software, which provides proprietary low-code development platforms and vertical software for healthcare and logistics. Michpal provides payroll processing, human capital management, and pension administration software to Israeli enterprises and government agencies. Formula also owns Zap Group, a price comparison and digital advertising platform, and InSync, a U.S. IT staffing firm. The company’s business model generates revenue through project-based IT service contracts, billable hours, and recurring software subscriptions or license fees. High switching costs in payroll software and long-term government IT projects provide revenue visibility. Formula’s strategy involves organic growth and acquisitions of companies specializing in high-value technologies like AI, cybersecurity, and cloud architecture. The company is also expanding its presence in the U.S. market and recently launched Formula Infrastructure to target fiber and communications projects.