This excerpt taken from the MGIC 20-F filed Apr 5, 2006.
In July 2005, the Company signed a memorandum of understanding with a related party, to implement the ERP system in a total consideration of $ 670. In 2005, the Company performed only part of the project in the amount of $ 165.
MAGIC SOFTWARE ENTERPRISES LTD.
AND ITS SUBSIDIARIES
U.S. dollars in thousands