Matrix IT Ltd

Yvette Cooper told the House of Commons that Government guidance had been strengthened to make clear that 'if you are a British citizen or business, you should not conduct any economic and financial activities in illegal Israeli settlements', alongside a fourth sanctions package targeting settler organisations including the Farms Association, Ahavat Gilad and Artzenu, a request to the Charity Commission to investigate UK charities linked to settlements, and international coordination on settlement construction tenders including E1.

Revenue NIS 2.127 billion; operating profit NIS 203 million; net profit NIS 136.8 million; net profit attributable to shareholders up 30.5% to NIS 120.7 million; EBITDA NIS 265.7 million; dividend of approximately NIS 89.8 million. International operations generated more than 20% of profit and 19.3% of revenue. Chief executive Moti Gutman states that 'Matrix's defense-related activities continue to grow rapidly, driven by increasing demand from the defense establishment and defense industries', and that integration with the subsidiary Commit strengthens capability in cybersecurity, artificial intelligence and cloud.

Revenue NIS 6.2 billion, up 11.8%; operating profit NIS 522.1 million, up 16%; net profit NIS 330.3 million, up 14.6%; EBITDA NIS 721.2 million. Chief executive Moti Gutman: 'Matrix is benefiting from record demand in the defense sector, generating revenues at a run rate of more than NIS 1 billion annually.' On a merged basis with Magic the company reports 2025 revenue of NIS 8.4 billion, EBITDA of NIS 1 billion, net profit of NIS 500 million and international revenue of USD 500 million, and states that the merger positions it among the ten largest publicly traded IT companies in the world. The defence run rate is attributed to Matrix's defence division together with Commit, acquired as part of the Magic transaction, which the company says brings embedded systems capability and is 'a meaningful force multiplier for our defense activities'.

Matrix's defence page names the 'Israel Ministry of Defense', the 'Israel Defense Forces' and 'Israel's premier defense industries' as its customers, and cites involvement in the 'ARROW active missile defense system, AEW (Airborne Early Warning) systems, SIGINT systems, Cyber and C4ISR systems'. It describes deep learning and AI applications, cyber research, embedded and mobile device security, natural language processing and video and imagery analysis, and states that its team comprises professionals 'who have held key leadership positions within the Israeli Ministry of Defense, the IDF, and Israel's premier defense industries'. The primary source for the defence relationship is the company's own marketing.

Matrix describes itself as 'one of the world's largest publicly listed IT services companies', with more than 15,000 employees across over 50 countries, 22% of revenue from international operations and 17% from the United States, and an Aa2.il credit rating from Midroog. It records a Defense Division established in 2003 'specializing in systems development, AI, cyber, intelligence, R&D and consulting', and a 2021 milestone at which 'Matrix Defense is recognized as an official defense industry by Israel's MOD'. It states it has acquired more than 100 companies.

Reports the definitive merger agreement at a combined value of about NIS 13 billion, creating a group of more than 15,000 employees, 6,000 customers and operations in 50 countries, with Magic's international business accounting for over half of Magic's revenue and its United States operations positioned to strengthen Matrix's global presence. Chief executive Moti Gutman describes the transaction as a 'big bang' creating 'a significant technological entity with a broad global presence' and a foundation for further acquisitions.

The Palestinian human rights organisation Al-Haq responded to the September 2025 update of the OHCHR settlements database, the edition listing Matrix at entry 96. It notes that OHCHR reviewed only 215 of the 596 businesses submitted, that delays in updating the database 'serve to shield Israel', and calls on states to divest from the settlement enterprise and on the home States of listed companies to sanction them.

Matrix IT Ltd. appears at entry 96 of Annex I, home State Israel, listed for activities (e) and (g): the provision of services and utilities supporting the maintenance and existence of settlements, and the use of natural resources, in particular water and land, for business purposes. The update lists 158 businesses from 11 countries, adding 68 and removing 7. Non-listing means out of scope or not yet reviewed; it has never meant cleared.

The UN Independent International Commission of Inquiry concluded on reasonable grounds that Israeli authorities and security forces have committed and continue to commit acts of genocide against Palestinians in the Gaza Strip, that they have had and continue to have genocidal intent, and that the State of Israel bears responsibility for the failure to prevent genocide, the commission of genocide and the failure to punish genocide. The analysis covers Gaza over the period 7 October 2023 to 31 July 2025.

Records that Formula Systems is listed on the Tel Aviv and NASDAQ exchanges under FORTY, that Asseco Poland S.A. holds a controlling 25.82%, and that Formula holds 48.21% of Matrix IT, 46.71% of Magic Software, 43.51% of Sapiens and 42.71% of TSG IT Advanced Systems jointly with Israel Aerospace Industries. TSG developed the 'EarthSolver' system producing real-time 3D targeting coordinates for guided weapons and the 'Tower of Fire' command-and-control system used for reconnaissance in the occupied West Bank. Establishes the ownership chain running from Warsaw through Tel Aviv to the Israeli Civil Administration's suppliers. Page valid until 08/09/2025.

The primary field record. Documents Matrix I.T. Global Services Ltd., formerly Talpiot, operating in the Modi'in Illit settlement since 2005; computing services to Ariel University in 2020; Meitar biometric checkpoint equipment contracts of NIS 136,663 (September 2024), NIS 79,243 (December 2021) and NIS 40,159 (2018); Wisdom Stone consultancy of NIS 804,960 (January 2024 to January 2025), NIS 696,555 (2023-24) and NIS 1,152,876 (2018-2020) for the Civil Administration system managing Palestinian permits, entry dates and 'disqualifications'; over NIS 5.5 million of Civil Administration equipment 2016-2024; annual COGAT and Beit El contracts 2020-2024; NIS 56,224,567 of Israel Police and Border Police equipment 2019-2021; a NIS 10 million Israel Prison Service server farm; the February 2024 SAP-on-Nimbus tender delivered with IBM's Red Hat Israel; an AI and machine learning centre run with Israel Aerospace Industries developing automatic target identification; and a ministerial order designating Matrix a defence industry supervised by the Ministry of Defense. The page states the information is valid until 13/08/2025.

Reports the merger agreement valuing the combined group at NIS 7.7 billion, with Magic shareholders taking 31.125% and Matrix shareholders 68.875%. Matrix is described as employing 11,570 people, primarily in Israel, on 2024 sales of NIS 5.58 billion, and partnering AWS, Google, Oracle and SAP; Magic as operating 24 regional offices across the United States, Europe and Asia. Matrix noted that its 'activity in the defense system and defense industries continues to be extensive'. The combined group would serve about 6,000 clients and employ more than 15,000 people in about 50 countries.

Reports three acquisitions: the US IT consultancy Alacer, which 'provides IT consultancy services for big companies in the US' with named clients including Citi and Toyota; the Israeli equipment supplier Ortec, completed in December 2024; and the Haifa-based outsourcing providers Gav Systems and Gav Express for NIS 45 million, adding 850 employees. Matrix employed 12,500 people, 10,682 of them in Israel, as at the third quarter of 2024. Identifies the Western corporate customers acquired with Alacer as the group's most exposed commercial relationships.

The International Court of Justice found Israel's continued presence in the occupied Palestinian territory unlawful, held settlements and their associated economic activity contrary to international law, and set out obligations on states in relation to trade and dealings with settlements. The legal framework on which institutional exclusion and procurement decisions rest.

The first update reassessed the 112 businesses listed in February 2020, removed 15 and retained 97. Matrix IT Ltd. is retained at entry 46 of section B, businesses involved in listed activities, for activities (e) and (g). Together with the 2020 report and A/HRC/60/19 this establishes that Matrix has been listed in every edition of the database.

Records that Asseco Poland, listed in Warsaw as ACP, holds majority ownership of Formula Systems, which owns Matrix IT, and sets out the chain to Matrix's settlement outsourcing branch, its biometric identification work and TSG IT Advanced Systems' command-and-control systems installed in settlements. Notes student divestment resolutions naming Asseco at San Francisco State University in November 2020 and Fresno State University in October 2020. The relevant precedent for pressure applied at the top of the ownership chain rather than at the Israeli operating company. Last updated 25 August 2022.

Places Matrix on the BDS Divestment Shortlist and records its presence in the 2020 UN database, tagged Settlement Industry and Weapons and Military Equipment. Documents an outsourcing centre in the Modi'in Illit settlement, IT services to settlements, surveillance technology including the 'Rolling Stone' and 'Meitar' systems, and cybersecurity training, software, computer systems and communications equipment supplied to the Israeli military and to the authorities administering the Gaza Strip, together with training and maintenance for the Israeli police and prison service. Last updated 24 August 2022.