Formula Systems (1985) Ltd. (Hebrew: פורמולה מערכות) is a publicly traded holding company headquartered in Or Yehuda, Israel.

[2][3] Dan Goldstein, who had an undergraduate degree in math and computer science and a master's in business management, had been a doctoral student at Tel Aviv University when, in 1981, he decided to leave the academic world and direct his efforts toward the private sector instead.

As such, it created, developed and invested in a number of the early companies, floated and traded on Nasdaq such as BluePhoenix, Wiztech, Matrix, Sapiens International Corporation and many others.

At various times it included Magic Software Enterprises, Crystal Systems, Liraz, Sivan, Matrix IT, Sapiens International Corporation, New Applicom, Sintec, nextSource, and BluePhoenix Solutions.

[8][9][10] As of fiscal year 2010, Formula retains a majority interest in three public companies: Sapiens International Corporation N.V. (71.6%), Magic Software Enterprises (51.7%), and Matrix (50.1%).