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Michpal Micro Computers Acquires 70% of Liram Financial Software to Expand Operations in Financial Accounting, Taxation and Compliance.

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MANews-(C)2009-2020

Michpal Micro Computers, a subsidiary of Israel-based Formula System (NASDAQ: FORTY) (TASE: FORTY), has acquired a 70% stake in management systems provider Liram Finance Software Ltd., to expand operations in the company said.

Additional terms of the transaction were not disclosed.

This acquisition completed by Michpal Micro Computers, a wholly owned subsidiary of Formula Systems is an additional strategic step towards the expansion of Michpal's operations in the field of payroll, human resources and financial management and compliance.

In recent months, Liram has launched its RamPlus 360 platform, a modular platform offering Liram's software solutions under one integrated working environment (on-premise or online).

The new platform has already proven its efficacy during the COVID-19 crisis by enabling financial professionals to continue their work offsite and provide crucial real-time and personalized service to their clients even during the COVID-19 lockdown period, while saving time and preventing errors.

Formula Systems is a global information technology holding...

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