AutoRek Selects Magic Software's iBOLT Integration Platform

OR YEHUDA, Israel, May 18, 2011 /PRNewswire/ -- Magic Software Enterprises Ltd. (NASDAQ: MGIC), a global provider of mobile, cloud, and on-premise enabled application platforms and business integration solutions, and AutoRek Financial Data Management announced today the release of the new AutoRek powered by iBOLT offering.  AutoRek has decided to sell its leading financial controls solution (AutoRek) together with Magic Software's code-free integration platform (iBOLT), to enable the seamless integration of financial management data with other enterprise applications.

iBOLT enables users to integrate AutoRek with existing applications, databases, and third-party external systems, such as Customer Relationship Management (CRM), Enterprise Resource Planning (ERP) systems and accounting packages, enabling finance professionals to access and process data much faster and with fewer errors.

Gordon McHarg, Managing Director of AutoRek comments: "iBOLT allows us to offer our award-winning reconciliation product to both new and existing customers, safe in the knowledge that they can instantly improve and enhance ROI by integrating all their in-house and ERP systems with AutoRek. This provides finance teams with a clear view of the data and the ability to make instant decisions."

David Akka, Managing Director of Magic Software UK, Eire and the Nordics, comments: "The combination of iBOLT and AutoRek offers the marriage of a best-of-breed reconciliation tool with best-of-breed, in-house ERP solutions to ensure a single-pane-of-glass view of data across the organization without the need for extensive reprogramming."

About AutoRek

AutoRek is the leading complete financial controls solution on a single platform, specializing in the development and application of reconciliation, cash allocation, attestation, anti-money laundering and performance management solutions. For more information, visit www.autorek.com.

About Magic Software

Magic Software Enterprises Ltd. (NASDAQ: MGIC) is a global provider of mobile, cloud and on-premise application platform and business integration solutions. For more information, visit www.magicsoftware.com.

Except for the historical information contained herein, the matters discussed in this news release include forward-looking statements that may involve a number of risks and uncertainties. Actual results may vary significantly based upon a number of factors including, but not limited to, risks in product and technology development, market acceptance of new products and continuing product conditions, both here and abroad, release and sales of new products by strategic resellers and customers, and other risk factors detailed in the Company's most recent annual report and other filings with the Securities and Exchange Commission.

Magic is the trademark of Magic Software Enterprises Ltd.

Press contacts:
Tania Amar
Magic Software Enterprises
Tel: +972 (0)3 538 9300
Email: [email protected]

SOURCE Magic Software Enterprises Ltd

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