Business Services Industry

INDIA: MAGIC TARGETS $60-MILLION REVENUE IN INDIA.(Magic Software Enterprises Ltd.)(Brief Article)

IPR Strategic Business Information Database, June, 2004

As part of its aggressive growth strategy, Nasdaq-listed Magic Software Enterprises said it wants to achieve a revenue of US$60 million in India by 2007 and boost the number of partners for its two products in the country. Magic's ambitious target is significant as the state-of-the-art business integration and development technology provider's total global revenues for the year ended December 31, 2003, was $63.39 million.

India represented a key growth market for Magic Software, regional sales manager of Asia Pacific for the company, Meir Koren, said, adding the aim was to have a pool of 50 iBOLT and 150 eDeveloper partners in India by 2007.

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