# EDGAR Filing Document

**Accession Number:** 0000876779
**File Stem:** 0001213900-26-020886
**Filing Date:** 2026-2
**Character Count:** 12477
**Document Hash:** 02f304f60e1e6af8d75c9df6af2f934e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-020886.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0001213900-26-020886

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MAGIC SOFTWARE ENTERPRISES LTD
- **CENTRAL INDEX KEY:** 0000876779
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 330477418
- **STATE OF INCORPORATION:** L3
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-41906
- **FILM NUMBER:** 26691320

**BUSINESS ADDRESS:**
- **STREET 1:** YAHADUT CANADA 1 ST.
- **CITY:** OR YEHUDA ISRAEL
- **STATE:** L3
- **ZIP:** 6037501
- **BUSINESS PHONE:** 972-3-538-9474

**MAIL ADDRESS:**
- **STREET 1:** YAHADUT CANADA 1 ST.
- **CITY:** OR YEHUDA ISRAEL
- **STATE:** L3
- **ZIP:** 6037501
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FORMULA SYSTEMS (1985) LTD
- **CENTRAL INDEX KEY:** 0001045986
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER PROGRAMMING SERVICES [7371]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 000000000
- **STATE OF INCORPORATION:** L3
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** YAHADUT CANADA 1 ST.
- **CITY:** OR YEHUDA
- **STATE:** L3
- **ZIP:** 6037501
- **BUSINESS PHONE:** 972-3-538-9474

**MAIL ADDRESS:**
- **STREET 1:** YAHADUT CANADA 1 ST.
- **CITY:** OR YEHUDA
- **STATE:** L3
- **ZIP:** 6037501

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FORMULA SYSTEMS \1985\ LTD
- **DATE OF NAME CHANGE:** 19970911

## Exhibit 99.1

**Exhibit 1**

**SCHEDULE 13D JOINT FILING AGREEMENT**

In accordance with the requirements of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, and subject to the limitations set forth therein, the parties set forth below agree to jointly file the Schedule 13D to which this joint filing agreement is attached, and have duly executed this joint filing agreement as of the date set forth below.

---

| | |
|:---|:---|
| Date: February 26, 2026 | Date: February 26, 2026 |
| FORMULA SYSTEMS (1985) LTD. | FORMULA SYSTEMS (1985) LTD. |
| By: | /s/ Asaf Berenstin |
| Name: | Asaf Berenstin |
| Title: | Chief Financial Officer |
| Matrix IT LTD. | Matrix IT LTD. |
| By: | /s/ Nevo Brenner |
| Name: | Nevo Brenner |
| Title: | Chief Financial Officer |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 20)**

**Magic Software Enterprises Ltd.**

*(Name of Issuer)*

**Ordinary Shares, NIS 0.1 par value**

*(Title of Class of Securities)*

**559166103**

*(CUSIP Number)*

**Asaf Berenstin**<br>Formula Systems (1985) Ltd.<br>Terminal Center, 1 Yahadut Canada Street<br>Or-Yehuda L3 6037501<br>972-3-5389389

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**02/24/2026**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **559166103** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Formula Systems (1985) Ltd.** | Name of reporting person<br>**Formula Systems (1985) Ltd.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**L3** | Citizenship or place of organization<br>**L3** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**49099305.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**49099305.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**49099305.00** | Aggregate amount beneficially owned by each reporting person<br>**49099305.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**100.00%** | Percent of class represented by amount in Row (11)<br>**100.00%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** This beneficial ownership percentage was calculated on the basis of 49,099,305 outstanding Ordinary Shares of the Issuer as of February 24, 2026, which outstanding share information was provided to the Reporting Persons by the Issuer in response to the inquiry of the Reporting Persons. Based on indirect ownership as a result of deemed control of Matrix IT Ltd.

| **CUSIP No.** | **559166103** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Matrix IT Ltd.** | Name of reporting person<br>**Matrix IT Ltd.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**L3** | Citizenship or place of organization<br>**L3** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**49099305.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**49099305.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**49099305.00** | Aggregate amount beneficially owned by each reporting person<br>**49099305.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**100.00%** | Percent of class represented by amount in Row (11)<br>**100.00%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** This beneficial ownership percentage was calculated on the basis of 49,099,305 outstanding Ordinary Shares of the Issuer as of February 24, 2026, which outstanding share information was provided to the Reporting Persons by the Issuer in response to the inquiry of the Reporting Persons.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Ordinary Shares, NIS 0.1 par value

**(b) Name of Issuer:**
Magic Software Enterprises Ltd.

**(c) Address of Issuer's Principal Executive Offices:**
Yahadut Canada 1 Street, Or Yehuda, L3, 6037501

This Amendment No. 20 (this "Amendment No. 20") to the Statement of Beneficial Ownership on Schedule 13D (the "Statement"), which Statement was last amended by Amendment No. 19 thereto, filed on May 23, 2022 ("Amendment No. 19"), is being filed by the Reporting Persons (as defined in Item 2 below), in respect of its holdings of ordinary shares, par value NIS 0.1 per share ("Ordinary Shares") of Magic Software Enterprises Ltd. ("Magic" or the "Issuer").

The Issuer is an Israeli company, whose principal executive offices are located at Yahadut Canada 1 Street, Or Yehuda 6037501, Israel.

This Amendment No. 20 is being filed by the Reporting Persons to update the Statement to reflect changes to the beneficial ownership by the Reporting Persons of Ordinary Shares relative to the amount set forth in Amendment No. 19. On February 24, 2026, the Issuer was merged in a reverse triangular merger with Matix IT Ltd. ("Matrix"), an Israeli corporation, and became a wholly-owned subsidiary of Matrix. Since Formula (as defined below) holds 47.67% of Matrix, it may be deemed to control Matrix.  As a result, Formula's beneficial ownership percentage of the outstanding Ordinary Shares has increased from 45.3% (as reported in Amendment No. 19) to 100%.

**Item 4. Purpose of Transaction**

Formula has acquired the Ordinary Shares of the Issuer reported in this Amendment No. 20 for long-term investment purposes. Magic and Matrix believed that the merger represented a compelling strategic opportunity, strengthening the companies' market position, expanding its capabilities, and enhancing value for shareholders.

Formula may from time to time acquire additional Ordinary Shares in the open market or in privately negotiated transactions in order to support its control position in the Issuer or otherwise.

Formula does not have any current plans to dispose of securities of the Issuer or to effect any other transaction described in Items 4(b) through (j) of Schedule 13D.

**Item 5. Interest in Securities of the Issuer**

**(a)**
Item 5 is amended and restated as follows:

Formula is the shared beneficial owner of and possesses shared voting and dispositive power with Matrix with respect to all of the 49,099,305 Ordinary Shares of Magic, which indirectly represent 100% of the total issued and outstanding Ordinary Shares of the Issuer. Formula holds 44,104,195  ordinary shares of Matrix , or 47.67% of the outstanding shares of Matrix, and can therefore be deemed to beneficially control Magic.

**(b)**
Item 5 is amended and restated as follows:

Formula is the shared beneficial owner of and possesses shared voting and dispositive power with Matrix with respect to all of the 49,099,305  Ordinary Shares of Magic, which indirectly represent 100% of the total issued and outstanding Ordinary Shares of the Issuer. Formula holds 44,104,195   ordinary shares of Matrix, or 47.67% of the outstanding shares of Matrix, and can therefore be deemed to beneficially control Magic.

**(c)**
None other.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

Guy Bernstein, the Chief Executive Officer of the Issuer, is also the Chief Executive Officer of Formula and Chairman of Matrix, and owns approximately 1,797,973 Ordinary Shares or 11.73% of the outstanding shares of Formula and 88,173 ordinary shares or  0.095 % of the outstanding shares of Matrix.

Asaf Berenstin, the Chief Financial Officer of the Issuer, is also the Chief Financial Officer of Formula, and owns approximately 31,833 Ordinary Shares or 0.0021% of the outstanding shares of Formula and 22,469 ordinary shares or 0.0243 % of the outstanding shares of Matrix.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Formula Systems (1985) Ltd.

**Signature:** /s/ Asaf Berenstin

**Name/Title:** Asaf Berenstin/Chief Financial Officer

**Date:** 02/26/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Matrix IT Ltd.

**Signature:** /s/ Nevo Brenner

**Name/Title:** Nevo Brenner/Chief Financial Officer

**Date:** 02/26/2026