<SEC-DOCUMENT>0001213900-23-038501.txt : 20230511
<SEC-HEADER>0001213900-23-038501.hdr.sgml : 20230511
<ACCEPTANCE-DATETIME>20230511155137
ACCESSION NUMBER:		0001213900-23-038501
CONFORMED SUBMISSION TYPE:	20-F
PUBLIC DOCUMENT COUNT:		150
CONFORMED PERIOD OF REPORT:	20221231
FILED AS OF DATE:		20230511
DATE AS OF CHANGE:		20230511

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MAGIC SOFTWARE ENTERPRISES LTD
		CENTRAL INDEX KEY:			0000876779
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				330477418
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		20-F
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19415
		FILM NUMBER:		23910694

	BUSINESS ADDRESS:	
		STREET 1:		5 HAPLADA STREET
		CITY:			OR YEHUDA ISRAEL
		STATE:			L3
		ZIP:			60218
		BUSINESS PHONE:		97235389322

	MAIL ADDRESS:	
		STREET 1:		5 HAPLADA STREET
		CITY:			OR YEHUDA ISRAEL
		STATE:			L3
		ZIP:			60218
</SEC-HEADER>
<DOCUMENT>
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</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonNumeric contextRef="c0" format="ixt:fixed-false" name="dei:DocumentTransitionReport">&#9744;</ix:nonNumeric>
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translation of Registrant&#8217;s name into English)</span></p><div>

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</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Securities
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</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Securities
registered or to be registered pursuant to Section 12(g) of the Act: <b>None</b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Securities
for which there is a reporting obligation pursuant to Section 15(d) of the Act: <b>None</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>


</div><!-- Field: Page; Sequence: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="text-align: justify; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
the number of outstanding shares of each of the issuer&#8217;s classes of capital or common stock as of the close of the period covered
by the annual report:</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As
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</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes
&#9744;&#160;&#160;&#160;<ix:nonNumeric contextRef="c0" name="dei:EntityWellKnownSeasonedIssuer">No</ix:nonNumeric> &#9746;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section
13 or 15(d) of the Securities Exchange Act of 1934.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes
&#9744;&#160;&#160;&#160;<ix:nonNumeric contextRef="c0" name="dei:EntityVoluntaryFilers">No</ix:nonNumeric> &#9746;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonNumeric contextRef="c0" name="dei:EntityCurrentReportingStatus">Yes</ix:nonNumeric>
&#9746;&#160;&#160;&#160;No &#9744;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule
405 of Regulation S-T (&#167;232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant
was required to submit such files).</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonNumeric contextRef="c0" name="dei:EntityInteractiveDataCurrent">Yes</ix:nonNumeric>
&#9746;&#160;&#160;&#160;No &#9744;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth
company. See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; and &#8220;emerging growth company&#8221;
in Rule 12b-2 of the Exchange Act.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 21%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large accelerated filer:</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 33%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 23%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonNumeric contextRef="c0" format="ixt-sec:entityfilercategoryen" name="dei:EntityFilerCategory">Accelerated filer</ix:nonNumeric>:</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 23%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-accelerated filer: </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging growth company </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><ix:nonNumeric contextRef="c0" format="ixt:fixed-false" name="dei:EntityEmergingGrowthCompany"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></ix:nonNumeric></td></tr> </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards&#8224; provided
pursuant to Section 13(a) of the Exchange Act. &#9744;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8224;
The term &#8220;new or revised financial accounting standard&#8221; refers to any update issued by the Financial Accounting Standards
Board to its Accounting Standards Codification after April 5, 2012.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the registrant has filed a report on and attestation to its management&#8217;s assessment of the effectiveness
of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered
public accounting firm that prepared or issued its audit report. <ix:nonNumeric contextRef="c0" format="ixt:fixed-true" name="dei:IcfrAuditorAttestationFlag">&#9746;</ix:nonNumeric></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant
included in the filing reflect the correction of an error to previously issued financial statements.&#160;&#9744;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive based compensation
received by any of the registrant&#8217;s executive officers during the relevant recovery period pursuant to &#167;240.10D-1(b).&#160;&#9744;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744; U.S. GAAP</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 68%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746; <span style="-sec-ix-hidden: hidden-fact-1">International Financial Reporting Standards as issued</span><br/> by the International Accounting Standards Board</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744; Other </span></td></tr> </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
&#8220;Other&#8221; has been checked in response to the previous question, indicate by check mark which financial statement item the
registrant has elected to follow.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
17 &#9744;&#160;&#160;&#160;Item 18 &#9744;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange
Act).</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes
&#9744;&#160;&#160;&#160;No <ix:nonNumeric contextRef="c0" format="ixt:fixed-false" name="dei:EntityShellCompany">&#9746;</ix:nonNumeric></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
annual report on Form 20-F is incorporated by reference into the registrant&#8217;s Registration Statements on Form S-8, File Nos. <a href="http://www.sec.gov/Archives/edgar/data/876779/000091066204000193/magics8031204.txt">333-113552</a>,
<a href="http://www.sec.gov/Archives/edgar/data/876779/000087677906000006/s86306f.htm">333-132221</a> and <a href="http://www.sec.gov/Archives/edgar/data/876779/000117891308000570/zk84929.htm">333-149553</a>.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>


</div><!-- Field: Page; Sequence: 2 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="margin: 0pt">&#160;</p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>INTRODUCTION</b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
legal and commercial name is Magic Software Enterprises Ltd., and we were organized and registered in Israel on February 10, 1983 and
began operations in 1986. We are a global provider of: (i) software services and Information Technologies (&#8220;IT&#8221;) outsourcing
software services; (ii) proprietary application development and business process integration platforms; (iii) selected packaged vertical
software solutions, as well as (iv) cloud based services for end to end digital transformation.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
software technology is used by customers to develop, deploy and integrate on-premise, mobile and cloud-based business applications quickly
and cost effectively. In addition, our technology enables enterprises to accelerate the process of delivering business solutions that
meet current and future needs and allow customers to dramatically improve their business performance and return on investment.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
part of our software services and IT outsourcing services, we offer an extensive portfolio of professional services in the areas of infrastructure
design and delivery, application development, technology consulting planning and implementation services, integration projects, project
management, software testing and quality assurance, engineering consulting (including supervision of engineering projects), support services,
cloud, cyber, digital, data and DevOps, all according to the specific needs of the customer, and in accordance with the professional
expertise required in each case with the goal to create significant value for our clients in managing, streamlining, accelerating and
helping their businesses thrive.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, we offer a variety of proprietary comprehensive packaged software solutions through certain of our subsidiaries for (i) enterprise-wide
and fully integrated medical platform (&#8220;Clicks&#8221;), specializing in the design and management of patient-file oriented software
solutions for managed care and large-scale health care providers. This platform aims to allow providers to securely access an individual&#8217;s
electronic health record at the point of care, and it organizes and proactively delivers information with potentially real time feedback
to meet the specific needs of physicians, nurses, laboratory technicians, pharmacists, front and back-office professionals and consumers;
(ii) enterprise management system for both hubs and traditional air cargo ground handling operations from physical handling and cargo
documentation through customs, seamless electronic data interchange, or EDI communications, dangerous goods, special handling, track
and trace, security to billing (&#8220;Hermes&#8221;); (iii) enterprise human capital management, or HCM, solutions, to facilitate the
collection, analysis and interpretation of quality data about people, their jobs and their performance, to enhance HCM decision making
(&#8220;HR Pulse&#8221;); (iv) revenue management and monetization solutions in mobile, wireline, broadband and mobile virtual network
operator/enabler, or MVNO/E (&#8220;Leap&#8221;); (v) comprehensive system for managing broadcast channels in the area of TV broadcast
management through cloud-based on-demand service or on-premise solutions; (vi) comprehensive solution for sales and distribution field
activities, such as order taking, route accounting, trade marketing, retail execution, proof of deliveries and B2B E-commerce (&#8220;Mobisale&#8221;);
and (vii) comprehensive solution for efficient management of all types of rehabilitation centers (&#8220;Nativ&#8221;). Selected by many
of the largest rehabilitation and treatment centers in Israel, Nativ serves as a comprehensive solution, the largest and most specialized
and equipped system in Israel, with all the capabilities required for operating all aspects of organizations engaged in rehabilitation
and treatment. Nativ enables control of all levels of rehabilitation bodies, including monitoring detailed rehabilitation plans, finance,
collection, account management, recruitment, working hours, asset management, employment, medical files and management of large organization.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Based on our technological capabilities and our specialists, our software
solutions and software services enable our clients to respond to rapidly evolving market needs and regulatory changes, while improving
the efficiency of their core operations. We have approximately 4,161 employees, who serve our clients at any given time and whose skills
and specialization are a significant source of competitive differentiation. We operate through a network of over 3,000 independent software
vendors, or ISVs, who we refer to as Magic Software Providers, or MSPs, and hundreds of system integrators, distributors, resellers, and
consulting and OEM partners. Thousands of enterprises in approximately 50 countries use our products and services.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
application development and business process integration platforms consist of:</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Magic
xpa</b> &#8211; a proprietary low-code application platform for developing and deploying business applications.</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>AppBuilder
</b>&#8211; a proprietary low-code application platform for building, deploying, and maintaining high-end, mainframe-grade business applications.</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Magic
xpi</b> &#8211; a proprietary low-code platform for on premises application integration.</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Magic
xpi cloud native</b> &#8211; a configuration based on Kubernetes focuses on scalability, security and resilience.</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 3; Options: NewSection; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->i<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FactoryEye
    &#8211; </b>a cloud-based pre-packaged but flexible end-to-end data management platform for manufacturers enabling smooth migration
    to Industry 4.0 smart factories. Real-time factory floor visibility and optimization is provided as part of the end-to-end visibility
    to maximize production performance and ongoing improvement.</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Magic
    Data Management and Analytics Platform</b>&#8211; a cloud-based pre-packaged but flexible end-to-end data management platform for
    all verticals enabling smooth digital transformation and full organizational business intelligence</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Magic
    SmartUX &#8211; </b>a proprietary low-code enterprise mobile development application platform for citizen to professional developers
    to rapidly design, build, analyze, and run cross-platform mobile business applications. </span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
vertical packaged software solutions include:</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Clicks</b>&#8482;
    &#8211; a proprietary comprehensive core software solution for medical record information management system, used in the design and
    management of patient-files for managed care and large-scale healthcare providers. The platform is connected to each provider&#8217;s
    clinical, administrative and financial data base system, residing at the provider&#8217;s central computer, and allows immediate
    analysis of complex data with potentially real-time feedback to meet the specific needs of physicians, nurses, laboratory technicians,
    pharmacists, front- and back-office professionals and consumers.</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Leap&#8482;
    </b>&#8211; a proprietary comprehensive core software solution for Business Support Systems, or BSS, including convergent charging,
    billing, customer management, policy control, mobile money and payment software solutions for the telecommunications, content, Machine
    to Machine/Internet of Things or M2M/IoT, payment and other industries.</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Hermes
    Cargo </b>&#8211; Hermes Air Cargo Management System is a proprietary, state-of-the-art, packaged software solution for managing
    air cargo ground handling. Our Hermes Solution covers all aspects of cargo handling, from physical handling and cargo documentation
    through customs, seamless EDI communications, dangerous goods and special handling, tracking and tracing, security and billing. Customers
    benefit through faster processing and more accurate billing, reporting and ultimately enhanced revenue. the system also features
    the Hermes Business Intelligence (HBI) solution, adding unprecedented data analysis capabilities and management-decision support
    tools. The Hermes Solution is delivered on a licensed or fully hosted basis.</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>HR
    Pulse</b> &#8211; A customizable single-tenant SaaS tool that helps organizations to monitor employee performance, progress and potential
    through a menu of templates that can create new HCM solutions, complement existing processes, and/or integrate with legacy HR systems
    already in use by organizations.</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>MBS
    Solution</b> &#8211; a proprietary comprehensive core system for TV broadcast management for use in managing broadcast channels.</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Nativ
    </b>&#8211; a proprietary comprehensive core system for management of rehabilitation centers</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Mobisale
    </b>&#8211; a proprietary comprehensive core system for sales and distribution field activities for consumer goods manufacturers
    and wholesalers</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
software solutions and software services enable our clients to improve their business performance and return on investment by supporting
cost-effective and rapid delivery integration of business applications, systems and databases. Using our platforms and our specialists,
enterprises and MSPs can achieve fast time-to-market by rapidly building integrated solutions and deploy them in multiple environments
while leveraging existing IT resources. In addition, our software solutions are scalable and platform-agnostic, enabling our clients
to build software applications by specifying their business logic requirements in a high-level language rather than in computer code,
and to benefit from seamless platform upgrades and cross-platform functionality without the need to re-write their applications. Our
platforms also support the development of mobile applications that can be deployed on a variety of mobile devices, and in a cloud environment.
In addition, we continuously evolve our platforms to include the latest technologies to meet the demands of our customers and the markets
in which they operate.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
sell our platforms and our services globally through a broad channel network, including our own direct sales representatives and offices,
independent country distributors, MSPs that use our technology to develop and sell solutions to their customers, and system integrators.
We also offer software maintenance, support, training and consulting services to supplement with our products, thus aiding in the successful
implementation of Magic xpa, AppBuilder, Magic xpi, Magic Data Management and Analytics Platform, Magic Smart UX and FactoryEye projects,
and assuring successful operation of the platforms once installed.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 4; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->ii<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, we provide on an increasingly global basis a broad range of advanced software professional services and IT outsourcing services
in the areas of in the areas of infrastructure design and delivery, application development, technology consulting planning and implementation
services, support services, DevOps (Development &amp; Operations), Mobile, Big Data and Analytical BI, M/F, cloud computing for deployment
of highly available and massively-scalable applications and APIs and supplemental IT outsourcing services to a wide variety of companies,
including Fortune 1000 companies, all in accordance with the professional expertise required in each case with our goal to create significant
value for our clients in managing, streamlining, accelerating and helping their businesses thrive. We have extensive and proven experience
with virtually all types of telecom infrastructure technologies in wireless and wire-line as well as in the areas of infrastructure design
and delivery, application development, project management, technology planning and implementation services.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We&#160;have
substantial experience in end-to-end development of tailored high-end software solutions, beginning with collection and analysis of system
requirements, continuing with architecture specifications and setup, to software implementation, component integration and testing. From
concept to implementation, from application of the ideas of startups requiring the early development of an application or a device, to
somewhat larger, more established enterprises, vendors or system houses who need our team of experts to take full responsibility for
the development of their systems and products. With our ability to draw on our pool of resources, comprised of hundreds of highly trained,
skilled, educated and flexible engineers, we adhere to timelines and budget and work in full transparency with our customers every step
of the way to create a tailor-made and cost-effective solution to answer our customers&#8217; unique needs.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
consolidated financial statements appearing in this annual report are prepared in U.S. dollars and in accordance with <span style="background-color: white">&#160;International
Financial Reporting Standards</span>, or IFRS.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have obtained trademark registrations for SmartUX&#174; in the United States and for Magic&#174; in the United States, Canada, Israel,
the Netherlands (Benelux), Switzerland, Thailand and the United Kingdom. All other trademarks and trade names appearing in this annual
report are owned by their respective holders.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Statements
made in this annual report concerning the contents of any contract, agreement or other document are summaries of such contracts, agreements
or documents and are not complete descriptions of all of their terms. If we filed any of these documents as an exhibit to this annual
report or to any previous filling with the SEC, you may read the document itself for a complete recitation of its terms.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Definitions</i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
this annual report, unless the context otherwise requires:</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">References
to &#8220;Magic Software&#8221; the &#8220;Company,&#8221; the &#8220;Registrant,&#8221; &#8220;our company,&#8221; &#8220;us,&#8221;
&#8220;we&#8221; and &#8220;our&#8221; refer to Magic Software Enterprises Ltd. and its consolidated subsidiaries;</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">References
to &#8220;our shares,&#8221; &#8220;Ordinary Shares&#8221; and similar expressions refer to Magic&#8217;s Ordinary Shares, par value
NIS 0. 1 per share;</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">References
to &#8220;dollars&#8221;, &#8220;U.S. dollars&#8221;, &#8220;U.S. $&#8221; and &#8220;$&#8221; are to United States Dollars;</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">References
to &#8220;Euro&#8221; or &#8220;&#8364;&#8221; are to the Euro, the official currency of the Eurozone in the European Union;</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">References
to &#8220;shekels&#8221; and &#8220;NIS&#8221; are to New Israeli Shekels, the Israeli currency;</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">References
to the &#8220;Articles&#8221; are to our Amended Articles of Association, as currently in effect;</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">References
to the &#8220;Securities Act&#8221; are to the Securities Act of 1933, as amended;</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">References
to the &#8220;Exchange Act&#8221; are to the Securities Exchange Act of 1934, as amended;</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">References
to &#8220;Nasdaq&#8221; are to the Nasdaq Stock Market;</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">References
to the &#8220;TASE&#8221; are to the Tel Aviv Stock Exchange; and</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">References
to the &#8220;SEC&#8221; are to the United States Securities and Exchange Commission.</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 5; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->iii<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Cautionary
Note Regarding Forward-Looking Statements</b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain
matters discussed in this annual report are forward-looking statements within the meaning of Section 27A of the Securities Act, Section
21E of the Exchange Act and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, that are based on
our beliefs, assumptions and expectations, as well as information currently available to us. Such forward-looking statements may be identified
by the use of the words &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;estimate,&#8221; &#8220;expect,&#8221; &#8220;may,&#8221;
&#8220;will,&#8221; &#8220;plan&#8221; and similar expressions. Such statements reflect our current views with respect to future events
and are subject to certain risks and uncertainties. There are important factors that could cause our actual results, levels of activity,
performance, or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied
by the forward-looking statements, including, but not limited to:</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
degree of our success in our plans to leverage our global footprint to grow our sales;</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
degree of our success in integrating the companies that we have acquired through the implementation of our M&amp;A growth strategy;</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
lengthy development cycles for our solutions, which may frustrate our ability to realize revenues and/or profits from our potential new
solutions;</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
lengthy and complex sales cycles, which do not always result in the realization of revenues;</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
degree of our success in retaining our existing customers and competing effectively for greater market share;</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">difficulties
in successfully planning and managing changes in the size of our operations;</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
frequency of the long-term, large, complex projects that we perform that involve complex estimates of project costs and profit margins,
which sometimes change mid-stream;</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
challenges and potential liability that heightened privacy laws and regulations pose to our business;</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">occasional
disputes with clients, which may adversely impact our results of operations and our reputation;</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">various
intellectual property issues related to our business;</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">potential
unanticipated product vulnerabilities or cybersecurity breaches of our or our customers&#8217; systems, particularly in the current work-from-home
environment;</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
unknown further duration of the global COVID-19 pandemic and the extent of its impact on our operations, financial position and cash
flows, and those of our customers and suppliers;</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">risks
associated with our global sales and operations, such as changes in regulatory requirements, wide-spread viruses and epidemics like the
recent novel coronavirus outbreak, or fluctuations in currency exchange rates; and</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">risks
related to our principal location in Israel.</span></td>
</tr></table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While
we believe such forward-looking statements are based on reasonable assumptions, should one or more of the underlying assumptions prove
incorrect, or these risks or uncertainties materialize, our actual results may differ materially from those expressed or implied by the
forward-looking statements. Please read the risks discussed in Item 3 &#8211; &#8220;Key Information&#8221; under the caption &#8220;Risk
Factors&#8221; and cautionary statements appearing elsewhere in this annual report in order to review conditions that we believe could
cause actual results to differ materially from those contemplated by the forward-looking statements.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">You
should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected
in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events
and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake
no obligation to update publicly any forward-looking statements for any reason after the date of this annual report, to conform these
statements to actual results or to changes in our expectations.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

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OF CONTENTS</b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

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</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ITEM 1.</span></td>
    <td style="vertical-align: top; width: 1%">&#160;</td>
    <td style="vertical-align: top; width: 79%; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_001"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS</span></a></td>
    <td style="vertical-align: top; width: 1%">&#160;</td>
    <td style="vertical-align: bottom; width: 9%; text-align: center">1</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ITEM 2.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_002"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">OFFER STATISTICS AND EXPECTED TIMETABLE</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">1</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ITEM 3.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_003"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">KEY INFORMATION</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">1</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_004"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Selected
    Financial Data</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">1</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">B.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_005"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Capitalization and Indebtedness</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">2</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">C.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_006"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reasons for the Offer and Use of Proceeds</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">2</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">D.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_007"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risk Factors</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">2</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top; text-align: right">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ITEM 4.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_008"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">INFORMATION ON THE COMPANY</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">27</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_009"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">History and Development of the Company</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">27</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">B.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_010"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Business Overview</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">28</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">C.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_011"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Organizational Structure</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">52</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">D.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_012"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property, Plants and Equipment</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">53</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top; text-align: right">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ITEM 4 &#160;&#160;&#160;A.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_013"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">UNRESOLVED STAFF COMMENTS</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">53</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center"></td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ITEM 5.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_014"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">OPERATING AND FINANCIAL REVIEW AND PROSPECTS</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">53</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_015"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating Results</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">53</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">B.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_016"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liquidity and Capital Resources</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">62</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">C.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_017"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Research and Development</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">65</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">D.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_018"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trend Information</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">65</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">E.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_019"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Critical Accounting Estimates.</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">65</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top; text-align: right">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ITEM 6.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_020"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">72</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_021"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Directors and Senior Management</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">72</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">B.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_022"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Compensation</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">74</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">C.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_023"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Board Practices</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">75</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">D.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_024"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Employees</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">83</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">E.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_025"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Share Ownership</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">84</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_026"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Disclosure of a registrant&#8217;s action to recover erroneously awarded compensation</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">85</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top; text-align: right">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ITEM 7.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_027"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">86</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_028"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Major Shareholders</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">86</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">B.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_029"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Related Party Transactions</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">87</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">C.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_030"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interests of Experts and Counsel</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">87</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top; text-align: right">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ITEM 8.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_031"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">FINANCIAL INFORMATION</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">87</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_032"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consolidated Statements and Other Financial Information</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">87</td></tr>
  <tr style="background-color: #CCEEFF">
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    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
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    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_034"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">THE OFFER AND LISTING</span></a></td>
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    <td style="vertical-align: bottom; text-align: center">88</td></tr>
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    <td style="vertical-align: top">&#160;</td>
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    <td style="vertical-align: bottom; text-align: center">88</td></tr>
  <tr style="background-color: #CCEEFF">
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    <td style="vertical-align: top">&#160;</td>
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    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">88</td></tr>
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    <td style="vertical-align: top">&#160;</td>
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    <td style="vertical-align: top">&#160;</td>
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  <tr style="background-color: white">
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    <td style="vertical-align: top">&#160;</td>
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    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">88</td></tr>
  <tr style="background-color: #CCEEFF">
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    <td style="vertical-align: top">&#160;</td>
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</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="background-color: #CCEEFF">
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    <td style="vertical-align: top; width: 1%">&#160;</td>
    <td style="vertical-align: top; width: 79%; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_041"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ADDITIONAL INFORMATION</span></a></td>
    <td style="vertical-align: top; width: 1%">&#160;</td>
    <td style="vertical-align: bottom; width: 9%; text-align: center">89</td></tr>
  <tr style="background-color: white">
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    <td style="vertical-align: top">&#160;</td>
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    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">89</td></tr>
  <tr style="background-color: #CCEEFF">
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    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_043"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Memorandum and Articles of Association</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">89</td></tr>
  <tr style="background-color: white">
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    <td style="vertical-align: top">&#160;</td>
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    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">89</td></tr>
  <tr style="background-color: #CCEEFF">
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    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_045"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exchange Controls</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">89</td></tr>
  <tr style="background-color: white">
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    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_046"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Taxation</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">90</td></tr>
  <tr style="background-color: #CCEEFF">
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    <td style="vertical-align: top">&#160;</td>
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    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">100</td></tr>
  <tr style="background-color: white">
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    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_048"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Statement by Experts</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">100</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">H.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_049"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Documents on Display</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">100</td></tr>
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    <td style="vertical-align: top">&#160;</td>
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    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">100</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top; text-align: right">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
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    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_051"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKS</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">101</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center"></td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ITEM 12.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_052"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">101</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ITEM 13.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_053"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">102</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ITEM 14.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_054"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">102</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ITEM 15.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_055"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">CONTROLS AND PROCEDURES</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">102</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ITEM 16.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_056"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">RESERVED</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">103</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ITEM 16A.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_057"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">AUDIT COMMITTEE FINANCIAL EXPERT</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">103</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ITEM 16B.</span></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_058"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">CODE OF ETHICS</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">103</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
  <tr style="background-color: white">
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    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_059"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">PRINCIPAL ACCOUNTANT FEES AND SERVICES</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">103</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">ITEM 16D.</span></td>
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    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_060"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">104</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top">&#160;</td>
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    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
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    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><a href="#m_061"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS</span></a></td>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">104</td></tr>
  <tr style="background-color: #CCEEFF">
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    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
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    <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 8; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->vi<!-- Field: /Sequence --></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PART
I</b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><div><a id="m_001"></a></div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ITEM 1. <span style="text-decoration:underline">IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS</span></b></span></p><div>


</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><div><a id="m_002"></a></div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ITEM 2. <span style="text-decoration:underline">OFFER STATISTICS AND EXPECTED TIMETABLE</span></b></span></p><div>


</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><div><a id="m_003"></a></div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ITEM 3. <span style="text-decoration:underline">KEY INFORMATION</span></b></span></p><div>


</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><div><a id="m_004"></a></div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 9; Options: NewSection; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Statements
of Financial Position:</b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0"></p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt"><b>&#160;</b></p><div>

</div><div><a id="m_005"></a></div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B.</b></span> <span style="font: small-caps 10pt Times New Roman, Times, Serif"><b>Capitalization and Indebtedness</b></span></p><div>


</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p><div>

</div><p style="text-indent: 0pt; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><div><a id="m_006"></a></div><p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.&#160;</b></span> <span style="font: small-caps 10pt Times New Roman, Times, Serif"><b>Reasons for the Offer and Use of Proceeds</b></span></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><div><a id="m_007"></a></div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>D.</b></span> <span style="font: small-caps 10pt Times New Roman, Times, Serif"><b>Risk Factors</b></span></p><div>


</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Investing
in our ordinary shares involves a high degree of risk and uncertainty. You should carefully consider the risks and uncertainties described
below before investing in our ordinary shares. Our business, prospects, financial condition and results of operations could be adversely
affected due to any of the following risks. In that case, the value of our ordinary shares could decline, and you could lose all or part
of your investment. </i></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Risks
Related to Our Business and Our Industry </b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    implementation of our M&amp;A growth strategy, which requires the integration of our multiple acquired companies and their respective
    businesses, operations and employees with our own, involves significant risks.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
    business depends on generating and maintaining ongoing, profitable client demand for our services and solutions, including through
    the adaptation and expansion of our services and solutions in response to ongoing changes in technology and offerings.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    may encounter difficulties in realizing the potential financial or strategic benefits of recent business acquisitions. </span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    are dependent on a limited number of core product families and services and a decrease in revenues from these products and services
    would adversely affect our business, results of operations and financial condition.</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adapting
    to evolving technologies can require substantial financial investments, distract management and adversely affect the demand for our
    existing products and services. </span></td></tr>
  </table><div>

</div><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
    products have a lengthy sales cycle that could adversely affect our revenues.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
    we are unable to keep our supply of skills and resources in balance with client demand around the world, our business, the utilization
    rate of our professionals and our results of operations may be materially adversely affected.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
    existing customers may not be satisfied with our solutions and services and might not make subsequent purchases from us. </span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
    we fail to meet our customers&#8217; performance expectations, our reputation may be harmed, causing us to lose customers or exposing
    us to legal liability. </span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0">&#160;</p><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 10; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    enter from time to time into&#160;fixed-price&#160;contracts that could subject us to losses in the event we fail to properly estimate
    our costs.</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    face intense competition in the markets in which we operate and we might not be able to compete effectively. </span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unfavorable
    national and global economic conditions could adversely affect our business, operating results and financial condition. </span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Geopolitical
    and other challenges and uncertainties due to the ongoing military conflict between Russia and Ukraine could have a material adverse
    effect.</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    are exposed to economic and market conditions that impact the communications industry. </span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
    reduction of government spending in Israel on IT services may reduce our revenues and profitability.</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt"></p><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    increasing amount of identifiable intangible assets and goodwill recorded on our balance sheet may lead to significant impairment
    charges in the future.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
    we fail to manage our growth, our business could be disrupted and our profitability will likely decline. </span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    have a history of quarterly fluctuations in our results of operations and expect these fluctuations to continue.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes
    in the ratio of our revenues generated from different revenue elements may adversely affect our gross profit margins. </span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    may encounter difficulties with our international operations and sales that could adversely affect our business, results of operations
    and financial condition. </span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
    international operations expose us to risks associated with fluctuations in currency exchange rates that could adversely affect our
    business. </span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Breaches
    of network or information technology security, natural disasters or terrorist attacks could have an adverse effect on our business.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Regulation
    of the internet and telecommunications, privacy and data security may adversely affect sales of our products and result in increased
    compliance costs.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Errors
    or defects in our software solutions could inevitably arise and would harm our profitability and our reputation with customers, and
    could even give rise to claims against us.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Third
    parties have in the past, and may in the future, claim that we infringe upon their intellectual property rights and such claims could
    harm our business. </span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Although
    we apply measures to protect our intellectual property rights and our source code, there can be no assurance that the measures that
    we employ to do so will be successful.</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    and our customers rely on technology and intellectual property of third-parties, the loss of which could limit the functionality
    of our products and disrupt our business.</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
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  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 11; Value: 1 --><div>
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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Some
    of our services and technologies may use &#8220;open source&#8221; software, which may restrict how we use or distribute our services
    or require that we release the source code of certain products subject to those licenses.</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
    unauthorized, and potentially improper, actions of our personnel could adversely affect our business, operating results and financial
    condition.</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
    applicable employment laws, we may not be able to enforce covenants not to compete and therefore may be unable to prevent our competitors
    from benefiting from the expertise of some of our former employees.</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
    business may be materially affected by changes to fiscal and tax policies. </span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain
    of our credit facility agreements with banks and other financial institutions are subject to a number of restrictive covenants that,
    if breached, could result in acceleration of our obligation to repay our debt. </span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Increasing
    scrutiny and changing expectations from investors, lenders, customers and other market participants with respect to our Environmental,
    Social and Governance, or ESG, policies may impose additional costs on us or expose us to additional risks.</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
    we are unable to maintain effective internal control over financial reporting in accordance with Sections 302 and 404(a) of the Sarbanes-Oxley
    Act of 2002, the reliability of our financial statements may be questioned and our share price may suffer.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Breaches
    or significant disruptions of our information technology systems may occur.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Security
    vulnerabilities in our software solutions could lead to reduced revenue or to liability claims.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Macroeconomic
    headwinds caused by inflation, rising interest rates, and currency exchange rates have been adversely impacting, and may continue
    to adversely impact, our revenues, profitability and cash flows.</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Risk
Related to Our Ordinary Shares </b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
    Ordinary Shares are traded on more than one market and this may result in price variations.</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
    is relatively limited trading volume for our shares, which reduces liquidity for our shareholders, and may cause the share price
    to be volatile, all of which may lead to losses by investors.</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    are a foreign private issuer under the rules and regulations of the SEC and are therefore exempt from a number of rules under the
    Exchange Act. </span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
    controlling shareholder has a controlling influence over matters requiring shareholder approval, which could delay or prevent a change
    of control that may benefit our public shareholders. </span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
    U.S. shareholders may suffer adverse tax consequences if we are classified as a passive foreign investment company or as a &#8220;controlled
    foreign corporation.&#8221;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 12; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Risks
Related to Our Location in Israel </b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Political,
    economic and military instability in Israel may disrupt our operations and negatively affect our business condition, harm our results
    of operations and adversely affect our share price. </span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
    results of operations may be adversely affected by the obligation of our personnel to perform military service.</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    currently have the ability to benefit from certain government tax benefits, which may be cancelled or reduced in the future. </span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Service
    and enforcement of legal process on us and our directors and officers may be difficult to obtain.</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provisions
    of Israeli law may delay, prevent or make difficult an acquisition of us, which could prevent a change of control and therefore depress
    the price of our shares. </span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    rights and responsibilities of our shareholders are governed by Israeli law and differ in some respects from the rights and responsibilities
    of shareholders under U.S. law.</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Risks
Related to Our Business and Our Industry </b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>To
the extent it returns in a significant manner in regions in which our revenues are primarily generated, the global COVID-19 pandemic,
or any other pandemic, may adversely affect our operating results in a material manner.</i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wide-spread
viruses and epidemics, such as the recent COVID-19 pandemic, to the extent it returns in full-force, could negatively affect our customers&#8217;
spending on our products and services. In 2022, 54%, 36%, 7%, 2% and 1% of our revenues generated from North America, Israel, Europe,
Japan, and the rest of the world, respectively. Negative economic conditions created by a pandemic may cause our customers to reduce
their IT spending. Customers may delay or cancel projects, choose to focus on in-house development efforts or seek to lower their costs
by renegotiating maintenance and support agreements. Additionally, customers may be more likely to make late payments in worsening economic
conditions, which could require us to increase our collection efforts and incur additional associated costs to collect expected revenues.
To the extent that the purchase of licenses for our software are perceived by customers and potential customers to be discretionary,
our revenues may be disproportionately affected by delays or reductions in general IT spending. If economic conditions generally, or
in the industries in which we operate specifically, worsen from present levels, the results of our operations could be adversely affected.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
the extent the COVID-19 pandemic returns in full-force, in any wave or via any variant of the virus, that may also adversely impact our
operating results, as the resulting closures, restrictions and health problems for our workers may compromise our ability to service
our customers in various regions of the world.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Actual
results could&#160;materially&#160;differ from the estimates and assumptions that we use to prepare our financial statements.</i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt; text-align: justify; text-indent: 0pt">In order to prepare our financial statements in conformity with internationally
accepted accounting standards (&#8220;IFRS&#8221;), our management is required to make estimates and assumptions, as of the date of the
financial statements, which affect the reported values of assets and liabilities, revenues and expenses, and disclosures of contingent
assets and liabilities. Main areas that require significant estimates and assumptions by our management include liabilities in respect
of business combinations, goodwill and intangible assets and their subsequent impairment analysis, determination of fair value of put
options of non-controlling interests, legal contingencies, research and development capitalization as well as amortization periods, classification
of leases as well as the determination of the lease term and the incremental borrowing rate, income tax uncertainties, deferred taxes,
share-based compensation, as well as the determination of revenue recognition from contracts accounted for based on the estimate of percentage
of completion, identification of performance obligations and the determination of the transaction price as well as the standalone selling
prices, and evaluating expected credit losses (&#8220;ECL&#8221;). Our actual results could&#160;materially&#160;differ from, and could
require adjustments to, those estimates.</p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 13; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The
implementation of our M&amp;A growth strategy, which requires the integration of multiple acquired companies and their respective businesses,
operations and employees with our own, involves significant risks, and the failure to integrate successfully may adversely affect our
future results.</i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the past decade we have completed a significant number of important acquisitions. Most recently, during 2022, we acquired Appush Ltd.
(formerly known as Vidstart Ltd.), Intrabases SAS, and The Goodkind Group LLC. In 2021, we acquired EnableIT, Menarva, and Soft IT. These
acquisitions are part of our integrated M&amp;A growth strategy, which is centered on three key factors: growing our customer base, expanding
geographically and adding complementary solutions and services to our portfolio&#8212; all while we seek to ensure our continued high
quality of services and product delivery. Any failure to successfully integrate the business, operations and employees of our acquired
companies, or to otherwise realize the anticipated benefits of these acquisitions, could harm our results of operations. Our ability
to realize these benefits will depend on the timely integration and consolidation of organizations, operations, facilities, procedures,
policies and technologies, and the harmonization of differences in the business cultures between these companies and their personnel.
Integration of these businesses will be complex and time consuming, will involve additional expense and could disrupt our business and
divert management&#8217;s attention from ongoing business concerns. The challenges involved in integrating the acquired companies include:</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preserving
    customer, supplier and other important relationships</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Integrating
    complex, core products and services that we acquire with our existing products and services</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Integrating
    financial forecasting and controls, procedures and reporting cycles</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Combining
    and integrating information technology, or IT, systems</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Integrating
    employees and related HR systems and benefits, maintaining employee morale and retaining key employees</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Potential
    confusion that we may have in our dealings with customers and prospective customers as to the products we are offering to them and
    potential overlap among those products</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment
    of significant management time and attention towards the integration process</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
benefits we expect to realize from these acquisitions are, necessarily, based on projections and assumptions about the combined businesses
of our company, and assume, among other things, the successful integration of these acquired entities into our business and operations.
Our projections and assumptions concerning our acquisitions may be inaccurate, however, and we may not successfully integrate the acquired
companies and our operations in a timely manner, or at all. We may also be exposed to unexpected contingencies or liabilities of the
acquired companies. If we do not realize the anticipated benefits of these transactions, our growth strategy and future profitability
could be adversely affected.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our
business depends on generating and maintaining ongoing, profitable client demand for our services and solutions, including through the
adaptation and expansion of our services and solutions in response to ongoing changes in technology and offerings, and a significant
reduction in such demand or an inability to respond to the evolving technological environment could materially affect our results of
operations.</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
revenue and profitability depend on the demand for our services and solutions with favorable margins, which could be negatively affected
by numerous factors, many of which are beyond our control and unrelated to our work product. As described above, volatile, negative,
or uncertain global economic and political conditions and lower growth or contraction in the markets we serve have adversely affected
and could in the future adversely affect client demand for our services and software solutions. Our success depends, in part, on our
ability to continue to develop and implement services and software solutions that anticipate and respond to rapid and continuing changes
in technology and offerings to serve the evolving needs of our clients. Examples of areas of significant change include digital-, cloud-
and security-related offerings, which are continually evolving, as well as developments in areas such as artificial intelligence, augmented
reality, automation, Internet of Things, network engineering, digital engineering and manufacturing, and as-a-service solutions. As we
expand our services and solutions into these new areas, we may be exposed to operational, legal, regulatory, ethical, technological and
other risks specific to such new areas, which may negatively affect our reputation and demand for our services and solutions.</span></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Technological
developments may materially affect the cost and use of technology by our clients and, in the case of cloud and as-a-service solutions,
could affect the nature of how we generate revenue. Some of these technological developments have reduced and replaced some of our historical
services and solutions and may continue to do so in the future. This has caused, and may in the future cause, clients to delay spending
under existing contracts and engagements and to delay entering into new contracts while they evaluate new technologies. Such technological
developments and spending delays can negatively impact our results of operations if we are unable to introduce new pricing or commercial
models that reflect the value of these technological developments or if the pace and level of spending on new technologies are not sufficient
to make up any shortfall.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Developments
in the industries we serve, which may be rapid, also could shift demand to new services and solutions. If, as a result of new technologies
or changes in the industries we serve, our clients demand new services and solutions, we may be less competitive in these new areas or
need to make significant investment to meet that demand. Our growth strategy focuses on responding to these types of developments by
driving innovation that will enable us to expand our business into new growth areas. If we do not sufficiently invest in new technology
and adapt to industry developments or evolve and expand our business at sufficient speed and scale, or if we do not make the right strategic
investments to respond to these developments and successfully drive innovation, our services and solutions, our results of operations,
and our ability to develop and maintain a competitive advantage and to execute on our growth strategy could be adversely affected.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
operate in a rapidly evolving environment in which there currently are, and we expect will continue to be, new technology entrants. New
services or technologies offered by competitors or new entrants may make our offerings less differentiated or less competitive when compared
to other alternatives, which may adversely affect our results of operations. In addition, companies in the industries we serve sometimes
seek to achieve economies of scale and other synergies by combining with or acquiring other companies. If one of our current clients
merges or consolidates with a company that relies on another provider for the services and solutions we offer, we may lose work from
that client or lose the opportunity to gain additional work if we are not successful in generating new opportunities from the merger
or consolidation.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Many
of our consulting contracts are less than 12 months in duration, and these contracts typically permit a client to terminate the agreement
with as little as 30 days&#8217; notice. Longer-term, larger and more complex contracts, generally require a longer notice period for
termination and often include an early termination charge to be paid to us, but this charge might not be sufficient to cover our costs
or make up for anticipated ongoing revenues and profits lost upon termination of the contract. Many of our contracts allow clients to
terminate, delay, reduce or eliminate spending on the services we provide. Additionally, a client could choose not to retain us for additional
stages of a project, try to renegotiate the terms of its contract or cancel or delay additional planned work. When contracts are terminated
or not renewed, we lose the anticipated revenues, and it may take significant time to replace the level of revenues lost. Consequently,
our results of operations in subsequent periods could be materially lower than expected.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
may encounter difficulties in realizing the potential financial or strategic benefits of recent business acquisitions. We expect to make
additional acquisitions in the future that could disrupt our operations and harm our operating results.</i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
significant part of our business strategy is to pursue acquisitions and other initiatives based on strategy centered on three key factors:
growing our customer base, expanding geographically and adding complementary solutions to our portfolio&#8212; all while we seek to ensure
our continued high quality of services and product delivery. In the past five years we made numerous acquisitions.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mergers
and acquisitions of companies are inherently risky and subject to many factors outside of our control and no assurance can be given that
our future acquisitions will be successful and will not adversely affect our business, operating results, or financial condition. In
the future, we may seek to acquire or make strategic investments in complementary businesses, technologies, services or products, or
enter into strategic partnerships or alliances with third parties in order to expand our business. Failure to manage and successfully
integrate such acquisitions could materially harm our business and operating results. Prior acquisitions have resulted in a wide range
of outcomes, from successful introduction of new products technologies and professional services to a failure to do so. Even when an
acquired company has previously developed and marketed products, there can be no assurance that new product enhancements will be made
in a timely manner or that pre-acquisition due diligence will have identified all possible issues that might arise with respect to such
products. If we acquire other businesses, we may face difficulties, including:</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Difficulties
    in integrating the operations, systems, technologies, products, and personnel of the acquired businesses or enterprises;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Diversion
    of management&#8217;s attention from normal daily operations of the business and the challenges of managing larger and more widespread
    operations resulting from acquisitions;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Integrating
    financial forecasting and controls, procedures and reporting cycles;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Potential
    difficulties in completing projects associated with in-process research and development;</span></td></tr>
  </table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt; text-align: justify"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Difficulties
    in entering markets in which we have no or limited direct prior experience and where competitors in such markets have stronger market
    positions;</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insufficient
    revenue to offset increased expenses associated with acquisitions; and</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    potential loss of key employees, customers, distributors, vendors and other business partners of the companies we acquire following
    and continuing after announcement of acquisition plans.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
are dependent on a limited number of core product families and a decrease in revenues from these products would adversely affect our
business, results of operations and financial condition; our future success will be largely dependent on the acceptance of future releases
of our core product offerings and if we are unsuccessful with these efforts, our business, results of operations and financial condition
will be adversely affected.&#160;</i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
derive a significant portion of our revenues and profits from sales of application and integration platforms and vertical software solutions
and from related professional services, software maintenance and technical support. Our future growth depends heavily on our ability
to effectively develop and sell new products developed by us or acquired from third parties as well as add new features to existing products
and new software service offerings. A decrease in revenues from our principal products and related services would adversely affect our
business, results of operations and financial condition.&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
future success depends in part on the continued acceptance of our application platforms and integration products primarily under our
Magic xpa, Magic xpi, AppBuilder, Leap, FactoryEye, Magic Data Management and Analytics platform and Magic SmartUX brands and our vertical
packaged software solutions, primarily Clicks, Leap&#8482;, the Hermes solution and HR Pulse, Mobisale and Nativ. The continued acceptance
of these platforms and software solutions will be dependent in part on the continued acceptance and growth of the cloud market, including
rich internet applications, or RIAs, mobile and software as a service, or SaaS, for which certain of them are particularly useful and
advantageous. We will need to continue to enhance our products to meet evolving requirements and if new versions of such products are
not accepted, our business, results of operations and financial condition may be adversely affected.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Rapid
technological changes may adversely affect the market acceptance of our products and services, and our business, results of operations
and financial condition could be adversely affected.&#160;</i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
compete in a market that is characterized by rapid technological changes. Other companies are also seeking to offer integration solutions,
low-code development solutions, enterprise mobility solutions, internet-related solutions, such as cloud computing, and complementary
services to generate growth. These companies may develop technological or business model innovations or offer services in the markets
that we seek to address that are, or are perceived to be, equivalent or superior to our software solutions and services. In addition,
our customers&#8217; business models may change in ways that we do not anticipate and these changes could reduce or eliminate our customers&#8217;
needs for our products and services. Our operating results depend on our ability to adapt to market changes and develop and introduce
new products and services into existing and emerging markets.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
introduction of new technologies and devices could render existing products and services obsolete and unmarketable and could exert price
pressures on our products and services. Our future success will depend upon our ability to address the increasingly sophisticated needs
of our customers by:</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Supporting
    existing and emerging hardware, software, databases and networking platforms; and</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Developing
    and introducing new and enhanced software development technology and applications that keeps pace with such technological developments,
    emerging new product markets and changing customer requirements.</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Adapting
to evolving technologies can require substantial financial investments, distract management and adversely affect the demand for our existing
products and services. </i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Because
our software solutions are complex and require rigorous testing, development cycles can be lengthy, taking us up to two years to develop
and introduce new, enhanced or modified solutions. Moreover, development projects can be technically challenging and expensive. The nature
of these development cycles may cause us to experience delays between the time we incur expenses associated with research and development
and the time we generate revenues, if any, from such expenses. In addition, adapting to evolving technologies may require us to invest
a significant amount of resources, time and attention into the development, integration, support and marketing of those technologies.
The acceptance and growth of cloud computing and enterprise mobility are examples of rapidly changing technologies, which we have adapted
into our products, packaged software solution and software service offerings. This required us to make a substantial financial investment
to develop and implement cloud computing and enterprise mobility into our software solution models and has required significant attention
from our management to refine our business strategies to include the delivery of these solutions. As the market continues to adopt new
technologies, we expect to continue to make substantial investments in our software solutions, system integrations and professional services
related to these changing technologies. Even if we succeed in adapting to a new technology by developing attractive products and services
and successfully bringing them to market, there is no assurance that the new product or service will have a positive impact on our financial
performance and could even result in lower revenue, lower margins and higher costs and therefore could negatively impact our financial
performance. If release dates of any future products or enhancements are delayed our business, financial condition and results of operations
could be adversely affected.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt; text-align: justify">&#160;</p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our
products have a lengthy sales cycle that could adversely affect our revenues.</i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
typical sales cycle for our solutions and services is lengthy and unpredictable, sometimes requires pre-purchase evaluation by a significant
number of persons in our clients&#8217; organizations, and often involves a significant operational decision by our customers as they
typically use our software solutions and services to develop and deploy as well as to integrate applications that are critical to their
businesses. Our sales efforts involve educating our clients, partners and consultants about the use and benefits of our solutions, including
the technical capabilities of our solutions and the efficiencies achievable by organizations deploying our solutions. Because of the
long approval process that typically accompanies strategic initiatives or capital expenditures by companies, our sales process is often
delayed, with little or no control over any delays encountered by us. Our sales cycle, which generally ranges from three to twelve months,
can be further extended for sales made through third party distributors. We spend substantial time, effort and money in our sales efforts
without any assurance that such efforts will produce any sales.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>If
we are unable to keep our supply of skills and resources in balance with client demand around the world and attract and retain professionals
with strong leadership skills, our business, the utilization rate of our professionals and our results of operations may be materially
adversely affected.</i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
success is dependent, in large part, on our ability to keep our supply of market-leading skills and capabilities in balance with client
demand around the world and our ability to attract and retain personnel with the knowledge and skills to lead our business globally.
We must hire or reskill, retain and motivate appropriate numbers of talented people with diverse skills in order to serve clients across
the globe, respond quickly to rapid and ongoing changes in demand, technology, industry and the macroeconomic environment, and continuously
innovate to grow our business. For example, if we are unable to hire or retrain our employees to keep pace with the rapid and continuous
changes in technology and the industries we serve, we may not be able to innovate and deliver new services and solutions to fulfill client
demand. There is competition for scarce talent with market-leading skills and capabilities in new technologies, and our competitors have
directly targeted our employees with these highly sought-after skills and will likely continue to do so. As a result, we may be unable
to cost effectively hire and retain employees with these market-leading skills, which may cause us to incur increased costs, or be unable
to fulfill client demand for our services and solutions.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are particularly dependent on retaining members of our leadership with critical capabilities. If we are unable to do so, our ability
to innovate, generate new business opportunities and effectively lead large and complex transformations and client relationships could
be jeopardized. We depend on identifying, developing and retaining top talent to innovate and lead our businesses. This includes developing
talent and leadership capabilities. Our ability to expand in the markets we operate depends, in large part, on our ability to attract,
develop, retain and integrate both leaders for the local business and people with critical capabilities.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Similarly,
our profitability depends on our ability to effectively source and staff people with the right mix of skills and experience to perform
services for our clients, including our ability to transition employees to new assignments on a timely basis. The costs associated with
recruiting and training employees are significant. If we are unable to effectively deploy our employees globally and remotely on a timely
basis to fulfill the needs of our clients, our profitability could suffer. If our utilization rate is too low, our profitability and
the engagement of our employees could suffer. If the utilization rate of our professionals is too high, it could have an adverse effect
on employee engagement and attrition, the quality of the work performed as well as our ability to staff projects.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
incentive compensation plans are designed to reward high-performing individuals for their contributions and provide incentives for them
to remain with us. If the anticipated value of such incentives does not materialize or if our total compensation package is not viewed
as being competitive, our ability to attract and retain the personnel we need could be adversely affected.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
is a risk that at certain points in time, we may have more personnel than we need in certain skill sets or at compensation levels that
are not aligned with skill sets. In these situations, we have engaged, and may in the future engage, in actions to rebalance our resources,
including reducing the rate of new hires and increasing involuntary terminations as a means to keep our supply of skills and resources
in balance with client demand. At certain times, we will find it difficult to hire and retain a sufficient number of employees with the
skills or backgrounds to meet current and/or future demand. In these cases, we might need to redeploy existing personnel or increase
our reliance on subcontractors to fill certain labor needs, and if not done effectively, our profitability could be negatively impacted.
Additionally, as demand for our services and solutions has escalated at a high rate, to hire and retain people with the skills necessary
to meet demand we have and may continue to adjust compensation, which puts upward pressure on our costs and may adversely affect our
profitability if we are unable to recover these increased costs. If we are not successful in these initiatives, our results of operations
could be adversely affected</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Moreover,
Our research and development, product delivery, and general and administrative, activities are conducted at locations where the competition
for skilled professionals is particularly intense. While there has been strong competition for qualified human resources in the high-tech
industry historically, the industry experienced record growth and activity in 2022, both at the earlier stages of venture capital and
growth equity financings, and at the exit stage of initial public offerings and mergers and acquisitions. This flurry of growth and activity
has caused a sharp increase in job openings in both high-tech companies and research and development centers, as well as the intensification
of competition between employers to attract qualified employees in those jurisdictions. Employee attrition&#8212; for all fields and
professions, and for all levels of management&#8212; has accompanied this strong competition, and hi-tech companies such as ours that
are based in Israel and these other jurisdictions are currently facing a severe shortage of skilled human capital, including engineering,
research and development, sales and customer support personnel. Many of the companies with which we compete for qualified personnel may
have greater resources than we do, and we may not succeed in recruiting additional experienced or professional&#160;personnel,&#160;retaining&#160;personnel
or effectively replacing current personnel who may depart with qualified or effective successors.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>If
we fail to meet our clients&#8217; performance expectations, our reputation may be harmed, causing us to lose customers or exposing us
to legal liability. </i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
depend heavily on repeated software and service revenues from our base of existing clients. Two of our largest clients accounted together
for 21.2% and 20.6% of our revenues in the years ended December 31, 2021 and 2022, respectively and five of our largest clients accounted
for 27.5% and 26.4% of our revenues in the years ended December 31, 2021 and 2022, respectively. If our existing clients are not satisfied
with our solutions and services, they may not enter into new project contracts with us or continue using our services. A significant
decline in our revenue stream from existing clients, including due to termination of agreement(s), would have a material adverse effect
on our business, results of operations and financial condition.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
ability to attract and retain clients depends to a large extent on our relationships with our clients and our reputation for high quality
solutions, professional services and integrity. As a result, if a customer is not satisfied with our services or solutions, including
those of subcontractors we engage, our reputation may be damaged. Our failure to meet these goals or a customer&#8217;s expectations
may result in a less profitable or an unprofitable engagement. Moreover, if we fail to meet our customers&#8217; expectations, we may
lose customers and be subject to legal liability, particularly if such failure adversely affects our customers&#8217; businesses.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, a portion of our projects may be considered critical to the operations of our clients&#8217; businesses. Our exposure to legal
liability may be increased in the case of contracts in which we become more involved in our customers&#8217; operations. While we typically
strive to include provisions designed to limit our exposure to legal claims relating to our services and the solutions we develop, these
provisions may not adequately protect us or may not be enforceable in all cases. The general liability insurance coverage that we maintain,
including coverage for errors and omissions, is subject to important exclusions and limitations. We cannot be certain that this coverage
will continue to be available on reasonable terms or will be available in sufficient amounts to cover one or more large claims, or that
the insurer will not disclaim coverage as to any future claim. A successful assertion of one or more large claims against us that exceeds
our available insurance coverage or changes in our insurance policies, including premium increases or the imposition of large deductible
or co-insurance requirements, could adversely affect our profitability.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
enter from time to time into&#160;fixed-price&#160;contracts that could subject us to losses in the event we fail to properly estimate
our costs.</i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
enter from time to time into firm&#160;fixed-price&#160;contracts where our delivery requirements sometimes span more than one year.
If our initial cost estimates are incorrect, it may cause losses on these contracts. Because many of these contracts involve new technologies
and applications, unforeseen events, such as technological difficulties and other cost overruns, can result in the contract pricing becoming
less favorable or even unprofitable to us and have an adverse impact on our financial results.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Similarly,
delays in implementation projects (whether fixed price or not) may affect our revenue and cause our operating results to vary widely.
Payment terms are generally based on periodic payments or on the achievement of milestones. Any delays in payment or in the achievement
of milestones may have a material adverse effect on our results of operations, financial position or cash flows.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
non-fixed price contracts, we generally provide our customers with up-front estimates regarding the duration, budget and costs associated
with the implementation of our services. However, we may not meet those upfront estimates and/or the expectations of our customers, which
could lead to a dispute with a client.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
face intense competition in the markets in which we operate and we might not be able to compete effectively. This could adversely affect
our business, results of operations and financial condition.</i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
markets in which we offer our services and solutions are highly competitive. Our competitors include:</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">multinational
    IT service providers, including the services arms of global technology providers;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">off-shore
    IT service providers in lower-cost locations such as India and Eastern Europe;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">accounting
    firms and consultancies that provide consulting and other IT services and solutions;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">solution
    or service providers that compete with us in a specific geographic market, industry or service area, including advertising agencies,
    engineering services providers and technology start-ups and other companies that can scale rapidly to focus on or disrupt certain
    markets and provide new or alternative products, services or delivery models; and</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">in-house
    IT departments that use their own resources, rather than engage an outside firm.</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Some
of our existing and potential competitors are larger companies, have greater financial, marketing or other resources than we do and,
therefore, may be better able to compete for new work and skilled professionals, may be able to innovate and provide new services and
solutions faster than we can or may be able to anticipate the need for services and solutions before we do. Some of our competitors may
also team together to create competing offerings. Even if we have potential offerings that address client needs, competitors may be more
successful at selling similar services they offer, including to companies that are our clients. Some competitors may be more established
in certain markets and may make executing our growth strategy to expand in these markets more challenging. Additionally, competitors
may also offer more aggressive contractual terms, which may affect our ability to win work. Our future performance is largely dependent
on our ability to compete successfully and expand in the markets we currently serve. If we are unable to compete successfully, we could
lose clients to competitors, which could materially adversely affect our results of operations. In addition, we may face greater competition
due to consolidation of companies in the technology sector through strategic mergers, acquisitions or teaming arrangements. Consolidation
activity may result in new competitors with greater scale, a broader footprint or offerings that are more attractive than ours. The technology
companies described above, including many of our alliance partners, are increasingly able to offer services related to their software,
platform, cloud migration and other solutions, or are developing software, platform, cloud migration and other solutions that require
integration services to a lesser extent. These more integrated services and solutions may represent more attractive alternatives to clients
than some of our services and solutions, which may materially adversely affect our competitive position and our results of operations.&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Unfavorable
national and global economic conditions could adversely affect our business, operating results and financial condition. </i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global
macroeconomic and geopolitical conditions affect our clients&#8217; businesses and the markets they serve. During periods of slowing
economic activity, our customers may reduce their demand for our products, technology and professional services, which would reduce our
sales, and our business, operating results and financial condition may be adversely affected. Economic challenges may develop, including
threatened sovereign defaults, credit downgrades, restricted credit for businesses and consumers and potentially falling demand for a
variety of products and services. These developments, or the perception that any of them could occur, could result in longer sales cycles,
slower adoption of new technologies and increased price competition for our products and services. We could also be exposed to credit
risk and payment delinquencies on our accounts receivable, which are not covered by collateral.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">In
particular, there is currently significant uncertainty about the future relationship between the U.S. and various other countries, with
respect to trade policies, treaties, government regulations, and tariffs. For example, the recent imposition of tariffs and/or changes
in tariffs on various products by the U.S. and other countries, including China and Canada, have introduced greater uncertainty with
respect to trade policies and government regulations affecting trade between the U.S. and other countries.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Major developments in trade relations, including the imposition of new or increased tariffs by the U.S. and/or other countries, and any
emerging nationalist trends in specific countries could alter the trade environment and consumer purchasing behavior which, in turn,
could have a material effect on our financial condition and results of operations. If such actions impacting our international distribution
and sales channels result in increased costs for us or our international partners, such changes could result in higher costs to us, adversely
affecting our operations, particularly as we expand our international presence.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="text-align: justify; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
response to the to the invasion of the Ukraine by Russia in February 2022, the U.S. and other countries have imposed various sanctions
against Russia&#160; including restrictions on selling or importing goods, services or technology in or from affected regions and travel
bans and asset freezes impacting connected individuals and political, military, business and financial organizations in Russia. The U.S.
and other countries could impose wider sanctions and take other actions. It is not possible to predict the broader consequences of this
conflict, which could include further sanctions, embargoes, regional instability, geopolitical shifts in the Middle East and worldwide
and adverse effects on macroeconomic conditions, currency exchange rates and financial markets, all of which could impact our business,
financial condition and results of operations.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
global economic and market conditions, or economic conditions in the United States, Europe or Asia or other key markets, remain uncertain
or weaken, our business, operating results and financial condition may be adversely affected.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
are exposed to economic and market conditions that impact the communications industry. </i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
provide packaged software and software services to service providers in the telecom industry, and our business may therefore be highly
dependent upon conditions in that industry. Developments in the telecom industry, such as the impact of global economic conditions, industry
consolidation, emergence of new competitors, commoditization of voice, video and data services and changes in the regulatory environment,
at times have had, and could continue to have, a material adverse effect on our existing or potential customers. In the past, these conditions
reduced the high growth rates that the communications industry had previously experienced and caused the market value, financial results
and prospects and capital spending levels of many telecom companies to decline or degrade. Industry consolidation involving our customers
may place us at risk of losing business to the incumbent provider to one of the parties to the consolidation or to new competitors. During
previous economic downturns, the telecom industry experienced significant financial pressures that caused many in the industry to cut
expenses and limit investment in capital intensive projects and, in some cases, led to restructurings and bankruptcies. Continuing uncertainty
as to economic recovery in recent years may have adverse consequences for our customers and our business.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are impacted by inflationary increases in wages, benefits and other costs. In all countries in which we operate, wage and benefit inflation,
whether driven by competition for talent, or ordinary course pay increases and other inflationary pressure, may increase our cost of
providing services and reduce our profitability. Furthermore, as a result of our global operations, wage increases in emerging markets
may increase at a faster rate than wages in developed markets, which increases our exposure to inflation risks. If we are not able to
pass increased wage and other costs resulting from inflation onto our clients our profitability may decline.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Downturns
in the business climate for telecom companies have previously resulted in slower customer buying decisions and price pressures that adversely
affected our ability to generate revenue. Adverse market conditions may have a negative impact on our business by decreasing our new
customer engagements and the size of initial spending commitments under those engagements, as well as decreasing the level of discretionary
spending by existing customers. In addition, a slowdown in buying decisions may extend our sales cycle period and may limit our ability
to forecast our flow of new contracts. If such adverse business conditions arise in the future, our business may be harmed.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>As
some of our revenues are derived from the Israeli government sector, a reduction of government spending in Israel on IT services may
reduce our revenues and profitability; and any delay in the annual budget approval process may negatively impact our cash flows. </i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
perform work for a wide range of Israeli governmental agencies and related subcontractors. Any reduction in total Israeli government
spending or elimination for political or economic reasons (such as in the case of COVID-19) may reduce our revenues and profitability.
In addition, the Government of Israel has experienced significant delays in the approval of its annual budget in recent years. Such delays
in the future could negatively affect our cash flows by delaying the receipt of payments from the government of Israel for services performed.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><b><i>The increasing
amount of intangible assets and goodwill recorded on our balance sheet may lead to significant impairment charges in the future.</i></b></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The amount of goodwill and identifiable intangible assets on our consolidated
statements of financial position has increased significantly over the last five years from approximately $149 million as of December 31,
2017 to $211 million as of December 31, 2022 because of our acquisitions and may increase further following future acquisitions. We regularly
review our long-lived assets, including identifiable intangible assets and goodwill, for impairment. Goodwill and indefinite life intangible
assets are subject to impairment review at least annually. Other long-lived assets are reviewed when there is an indication that impairment
may have occurred. Impairment testing under IFRS, subject to downturns in our operating results and financial condition, may lead to impairment
charges in the future. Any significant impairment charges could have a material adverse effect on our results of operations.&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>If
we fail to manage our growth, our business could be disrupted and our profitability will likely decline. </i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have experienced rapid growth during recent years, through both acquisitions and organically. The number of our employees over the last
five years increased from 2,052 as of December 31, 2017 to 4,161 as of December 31, 2022 and may increase further as we aim to enhance
our businesses. This increase may significantly strain our management and other operational and financial resources. In particular, continued
headcount growth increases the integration challenges involved in:</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Recruiting,
    training and retaining skilled technical, marketing and management personnel;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maintaining
    high quality standards;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preserving
    our corporate culture, values and entrepreneurial environment;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Developing
    and improving our internal administrative infrastructure, particularly our financial, operational, communications and other internal
    controls; and</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maintaining
    high levels of customer satisfaction;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
rapid execution necessary to exploit the market for our business model requires an effective planning and management process. Our systems,
procedures or controls may not be adequate to support the growth in our operations, and our management may not be able to achieve the
rapid execution necessary to exploit the market for our business model. Our future operating results will also depend on our ability
to expand our development, sales and marketing organizations. If we are unable to manage growth effectively, our profitability will likely
decline.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Changes
in the ratio of our revenues generated from different revenue elements may adversely affect our gross profit margins. </i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
derive our revenues from the sale of software licenses, related professional services, maintenance and technical support as well as from
other IT professional services. In recent years the decline in our gross margin was mainly affected by the change in proportion of our
revenues generated from the sale of each of those elements of our revenues. Our revenues from the sale of our software licenses, related
professional services, maintenance and technical support have significantly higher gross margins than our revenues from IT professional
and outsourcing services. Our software licenses revenues also include the sale of third-party software licenses, which have a lower gross
margin than sales of our proprietary software products. Any increase in the portion of third-party software license sales out of total
license sales will decrease our gross profit margin. If the relative proportion of our revenues from the sale of IT professional services
continues to increase as a percentage of our total revenues, our gross profit margins may continue to decline in the future.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
may encounter difficulties with our international operations and sales that could adversely affect our business, results of operations
and financial condition. </i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While
our principal executive offices are located in Israel, 60%, 62% and 64% of our sales in the years ended December 31, 2020, 2021 and 2022,
respectively, were generated in other regions and countries including, but not limited to the Americas, Europe, Japan, Asia-Pacific,
India, and Africa. Our success in becoming a stronger competitor in the sale of development application platforms, integration solutions,
packaged software solutions and professional services is dependent upon our ability to increase our sales in all our markets. Our efforts
to increase our penetration into these markets are subject to risks inherent to such markets, including the high cost of doing business
in such locations. Our efforts may be costly and they may not result in profits, which could adversely affect our business, results of
operations and financial condition.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
current international operation and our plans to further expand our international operations subjects us to many risks inherent to international
business activities, including:</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Limitations
    and disruptions resulting from the imposition of government controls;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Compliance
    with a wide variety of foreign regulatory standards;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Compliance
    with the U.S. Foreign Corrupt Practices Act of 1977, as amended, or FCPA, particularly in emerging market countries;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Import
    and export license requirements, tariffs, taxes and other trade barriers;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Political,
    social and economic instability abroad, terrorist attacks and security concerns in general. For example, our operations in India
    may be adversely affected by future political and other events in the region;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fluctuations
    in foreign currency exchange rates have been adversely affecting, and could continue to adversely affect, our results of operations.</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trade
    restrictions;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 21; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes
    in tariffs;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Increased
    exposure to fluctuations in foreign currency exchange rates;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Complexity
    in our tax planning, and increased exposure to changes in tax regulations in various jurisdictions in which we operate, which could
    adversely affect our operating results and limit our ability to conduct effective tax planning;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Increased
    financial accounting and reporting requirements and complexities;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Weaker
    protection of intellectual property rights in some countries;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Greater
    difficulty in safeguarding intellectual property;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Increased
    management, travel, infrastructure and legal compliance costs associated with having multiple international operations;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Longer
    payment cycles and difficulties in enforcing contracts and collecting accounts receivable;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    need to localize our products and licensing programs for international customers;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lack
    of familiarity with and unexpected changes in foreign regulatory requirements;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    burden of complying with a wide variety of foreign laws and legal standards;</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    potential worsening of the coronavirus outbreak on a global scale, which may cause customers to cancel projects with us, prevent
    potential future opportunities for our business and harm our ability to maintain a healthy workforce that can implement our services
    and solutions offerings; and</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Multiple
    and possibly overlapping tax regimes.</span></td></tr>
  </table><div>
</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
we continue to expand our business globally, our success will depend, largely, on our ability to anticipate and effectively manage these
and other risks associated with our international operations. Any of these risks could harm our international operations and reduce our
international sales, adversely affecting our business, results of operations, financial condition and growth prospects.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our
international operations expose us to risks associated with fluctuations in currency exchange rates that could adversely affect our business.
</i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
financial statements are stated in U.S. dollars, our functional currency. However, in the years ended December 31, 2020, 2021 and 2022,
approximately 52%, 47% and 46% of our revenues, respectively, were derived from sales outside the United States, particularly, Israel,
Europe, Japan and Asia-Pacific, and Africa. We also maintain substantial non-U.S. dollar balances of assets, including cash and accounts
receivable, and liabilities, including accounts payable and debts to banks and financial institutions. Similarly, a significant portion
of our expenses, primarily salaries, related personnel expenses, subcontractors expenses, interest expenses and the leases of our offices
and related administrative expenses, were incurred outside the United States. Therefore, fluctuations in the value of the currencies
in which we do business relative to the U.S. dollar, primarily NIS, euros and Japanese yen, may adversely affect our business, results
of operations and financial condition, by decreasing the U.S. dollar value of assets held in other currencies and increasing the U.S.
dollar amount of liabilities payable in other currencies, or by decreasing the U.S. dollar value of our revenues in other currencies
and increasing the U.S. dollar amount of our expenses in other currencies. Even if we use derivatives or engage in any currency-hedging
transactions intended to reduce the effect of fluctuations of foreign currency exchange rates on our financial position and results of
operations, there can be no assurance that any such hedging transactions will materially reduce the effect of fluctuation in foreign
currency exchange rates on such results. In addition, if for any reason exchange or price controls or other restrictions on the conversion
of foreign currencies were imposed, our financial position and results of operations could be adversely affected.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Breaches
of network or information technology security, natural disasters or terrorist attacks could have an adverse effect on our business.</i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cyber-attacks
or other breaches of network or IT security, natural disasters, terrorist acts or acts of war may cause equipment failures or disrupt
our systems and operations. We may be subject to attempts to breach the security of our networks and IT infrastructure through cyber-attacks,
malware, computer viruses and other means of unauthorized access, which could also impact the operation of our products and services.
The potential liabilities associated with these events could exceed the insurance coverage we maintain. Our inability to operate our
facilities as a result of such events, even for a limited period of time, may result in significant expenses or loss of market share
to other competitors. In addition, a failure to protect the privacy of customer and employee confidential data against breaches of network
or IT security could result in damage to our reputation. We have experienced and defended against certain threats to our systems and
security (such as phishing attempts), none of which have had a material adverse effect on our business or operations to date. However,
we could incur significant costs in order to investigate and respond to future attacks, to respond to evolving regulatory oversight requirements,
to upgrade our cybersecurity systems and controls, and to remediate security compromise or damage. In response to past threats and attacks,
we have implemented further controls and planned for other preventative actions to further strengthen our systems against future attacks.
However, we cannot assure you that such measures will provide absolute security, that we will be able to react in a timely manner, or
that our remediation efforts following past or future attacks will be successful. Consequently, our financial performance and results
of operations would be materially adversely affected.&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maintaining
the security of our products, computers and networks is a critical issue for our customers and us. Security researchers, criminal hackers
and other third parties regularly develop new techniques to penetrate computer and network security measures. In addition, hackers also
develop and deploy viruses, worms and other malicious software programs, some of which may be specifically designed to attack our products,
systems, computers or networks. Additionally, outside parties may attempt to fraudulently induce our employees or users of our products
to disclose sensitive information in order to gain access to our data or our customers&#8217; data. These potential breaches of our security
measures and the accidental loss, inadvertent disclosure or unauthorized dissemination of proprietary information or sensitive, personal
or confidential data about us, our employees or our customers, including the potential loss or disclosure of such information or data
as a result of hacking, fraud, trickery or other forms of deception, could expose us, our employees, our customers or the individuals
affected to a risk of loss or misuse of this information, result in litigation and potential liability or fines for us, damage our brand
and reputation or otherwise harm our business. These risks are persistent and likely will increase as we continue to grow our cloud offerings
and services and store and process increasingly large amounts of our customers&#8217; confidential information and data. We also may
acquire companies, products, services and technologies and inherit such risks when we integrate these acquisitions within our company.
Further, as regulatory focus on privacy issues continues to increase and become more complex, these potential risks to our business will
intensify. Changes in laws or regulations associated with the enhanced protection of certain types of sensitive data could greatly increase
our cost of providing our products and services.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outside
parties have furthermore in the past, and may also in the future, attempt to fraudulently induce our employees to disclose sensitive,
personal or confidential information via illegal electronic spamming, phishing or other tactics. This existing risk has somewhat increased
given the COVID-19 pandemic, as we shifted a portion of our workforce to more frequent work-from-home arrangements. Unauthorized parties
may also attempt to gain physical access to our facilities in order to infiltrate our information systems or attempt to gain logical
access to our products, services, or information systems for the purpose of exfiltrating content and data. These actual and potential
breaches of our security measures and the accidental loss, inadvertent disclosure or unauthorized dissemination of proprietary information
or sensitive, personal or confidential data about us, our employees or our customers, including the potential loss or disclosure of such
information or data as a result of hacking, fraud, trickery or other forms of deception, could expose us, our employees or our customers
to a risk of loss or misuse of this information. This may result in litigation and liability or fines, our compliance with costly and
time-intensive notice requirements, governmental inquiry or oversight or a loss of customer confidence, any of which could harm our business
or damage our brand and reputation, thereby requiring time and resources to mitigate these impacts.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have invested in advanced detection, prevention and proactive systems to reduce these risks and we believe that our level of protection
is in keeping with the industry standards of peer technology companies. We also maintain a disaster recovery solution, as a means of
assuring that a breach or cyber attack does not necessarily cause the loss of our information. We furthermore review our protections
and remedial measures periodically in order to ensure that they are adequate. We devote resources to address security vulnerabilities
through enhancing security and reliability features in our systems, code hardening, conducting rigorous penetration tests, deploying
updates to address security vulnerabilities, providing resources such as mandatory security training for our workforce and improving
our incident response time, but security vulnerabilities cannot be totally eliminated. The cost of these steps could reduce our operating
margins.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Despite
these protective systems and remedial measures, techniques used to obtain unauthorized access are constantly changing, are becoming increasingly
more sophisticated and often are not recognized until after an exploitation of information has occurred. We may be unable to anticipate
these techniques or implement sufficient preventative measures, and we therefore cannot assure you that our preventative measures will
be successful in preventing compromise and/or disruption of our information technology systems and related data. We furthermore cannot
be certain that our remedial measures will fully mitigate the adverse financial consequences of any cyber-attack or incident. If we do
not make the appropriate level of investment in our technology systems or if our systems become out-of-date or obsolete and we are not
able to deliver the quality of data security that meet our independent security control certification requirements, our business could
be adversely affected.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Security
vulnerabilities in our software solutions could lead to reduced revenue or to liability claims.</i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maintaining
the security of the software solutions and related services that we offer is a critical issue for us and our customers. Security researchers,
criminal hackers and other third parties regularly develop new techniques to penetrate our customers&#8217; end points, information systems
and network security measures. Cyber threats are constantly evolving and becoming increasingly sophisticated and complex, making it increasingly
difficult to detect and successfully defend against them. Unauthorized parties have, in the past, infiltrated our internal IT systems,
gaining access to certain proprietary information. If they were to similarly breach the security related to, and misuse, software solutions
that we offer, they might access the authentication, payment and personal information of our customers. In addition, cyber-attackers
(which may include individuals or groups, as well as sophisticated groups such as nation-state and state-sponsored attackers, who can
deploy significant resources to plan and carry out exploits) also develop and deploy viruses, worms, credential stuffing attack tools
and other malicious software programs, some of which may be specifically designed to attack the solutions and services that we offer.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Software
and operating system applications that we develop have contained and may contain defects in design or manufacture, including bugs, vulnerabilities
and other problems that could unexpectedly compromise the security of the software or impair a customer&#8217;s ability to operate or
use our solutions. The costs to prevent, eliminate, mitigate, or alleviate cyber-attacks or other security problems, bugs, viruses, worms,
malicious software programs and security vulnerabilities are significant, and our efforts to address these problems, including notifying
affected parties, may not be successful or may be delayed and could result in interruptions, delays, cessation of service and loss of
existing or potential customers. It is impossible to predict the extent, frequency or impact these problems may have on us.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Actual
and potential breaches of our security measures and the accidental loss, inadvertent disclosure or unauthorized dissemination of proprietary
information or sensitive, personal or confidential data about our customers, including the potential loss or disclosure of such information
or data as a result of hacking, fraud, trickery or other forms of deception, could expose our customers to a risk of loss or misuse of
this information. This may result in litigation and liability or fines, our compliance with costly and time-intensive notice requirements,
governmental inquiry or oversight or a loss of customer confidence, any of which could harm our business or damage our brand and reputation,
thereby requiring time and resources to mitigate these impacts.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">From
time to time we have identified, and in the future we may identify other, vulnerabilities in some of our solutions and services. We devote
significant resources to address security vulnerabilities through engineering more secure solutions, enhancing security and reliability
features in our solutions and services, code hardening, conducting rigorous penetration tests, deploying updates to address security
vulnerabilities, regularly reviewing our solutions&#8217; security controls, reviewing and auditing our solutions against independent
security control frameworks (such as ISO 27001, SOC 2 and PCI), providing resources such as security training for our customers&#8217;
workforces and improving our incident response time, but security vulnerabilities cannot be totally eliminated. The cost of these steps
could reduce our operating margins, and we may be unable to implement these measures quickly enough to prevent cyber-attackers from gaining
unauthorized access into our solutions. Despite our preventative efforts, actual or perceived security vulnerabilities in our solutions
may harm our reputation or lead to claims against us (and have in the past led to such claims) and could lead some customers to stop
using certain systems or services, to reduce or delay future purchases of solutions or services, or to use competing solutions or services.
If we do not make the appropriate level of investment in our solutions or if our solutions become out-of-date or obsolete and we are
not able to deliver the quality of data security our customers require, our business could be adversely affected. Customers may also
adopt security measures designed to protect their existing computer systems from attack, which could delay their adoption of our new
solutions. Moreover, delayed sales, lower margins or lost customers resulting from disruptions caused by cyber-attacks and implementation
of preventative measures could adversely affect our financial results, share price and reputation.&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Regulation
of the internet and telecommunications, privacy and data security may adversely affect sales of our products and result in increased
compliance costs.</i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
internet commerce continues to evolve, increasing regulation by federal, state or foreign agencies and industry groups becomes more likely.
For example, we believe increased regulation is likely with respect to the solicitation, collection, processing or use of personal, financial
and consumer information as regulatory authorities around the world are considering a number of legislative and regulatory proposals
concerning data protection, privacy and data security. In addition, the interpretation and application of consumer and data protection
laws and industry standards in the United States, Europe and elsewhere are often uncertain and in flux.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Many
jurisdictions continue to consider the need for greater regulation or reform to the existing regulatory framework. In the U.S., all 50
states have now passed laws to regulate the actions that a business must take in the event of a data breach, such as prompt disclosure
and notification to affected users and regulatory authorities. In addition to the data breach notification laws, some states have also
enacted statutes and rules requiring businesses to reasonably protect certain types of personal information they hold or to otherwise
comply with certain specified data security requirements for personal information. The U.S. federal and state governments will likely
continue to consider the need for greater regulation aimed at restricting certain uses of personal data for targeted advertising. Additionally,
California recently enacted the California Consumer Privacy Act, or CCPA, it creates new individual privacy rights for consumers (as
that word is broadly defined in the law) and places increased privacy and security obligations on entities handling personal data of
consumers or households. The CCPA, which went into effect on January 1, 2020, requires covered companies to provide new disclosures to
California consumers, and provides such consumers new ways to opt-out of certain sales of personal information. The CCPA provides for
civil penalties for violations, as well as a private right of action for data breaches that is expected to increase data breach litigation.
The CCPA may increase our compliance costs and potential liability. Some observers have noted that the CCPA could mark the beginning
of a trend toward more stringent privacy legislation in the U.S., which could increase our potential liability and adversely affect our
business.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
particular, our European activities are subject to the European Union General Data Protection Regulation, or GDPR, which create additional
compliance requirements for us. GDPR broadens the scope of personal privacy laws to protect the rights of European Union citizens and
requires organizations to report on data breaches within 72 hours and be bound by more stringent rules for obtaining the consent of individuals
on how their data can be used. GDPR took effect on May 25, 2018 and non-compliance may expose entities such as our company to significant
fines or other regulatory claims. While we have invested in, and intend to continue to invest in, reasonably necessary resources to comply
with these new standards, to the extent that we fail to adequately comply, that failure could have an adverse effect on our business,
financial conditions, results of operations and cash flows.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
China, the PRC Cybersecurity Law, which became effective in June 2017, leaves substantial uncertainty as to the circumstances and standard
under which the law would apply and violations would be found.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
application of existing laws to cloud-based solutions is particularly uncertain and cloud-based solutions may be subject to further regulation,
the impact of which cannot be fully understood at this time. Moreover, these laws may be interpreted and applied in a manner that is
inconsistent with our data and privacy practices. If so, in addition to the possibility of fines, this could result in an order requiring
that we change our data and privacy practices, which could have an adverse effect on our business and results of operations. Complying
with these various laws could cause us to incur substantial costs or require us to change our business practices in a manner adverse
to our business. In addition, any new regulation, or interpretation of existing regulation, imposing greater fees or taxes on internet-based
services, or restricting information exchange over the Web, could result in a decline in the use and adversely affect sales of our products
and our results of operations.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Errors
or defects in our software solutions could inevitably arise and would harm our profitability and our reputation with customers, and could
even give rise to claims against us.</i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
quality of our solutions, including new, modified or enhanced versions thereof, is critical to our success. Since our software solutions
are complex, they may contain errors that cannot be detected at any point in their testing phase. While we continually test our solutions
for errors or defects and work with customers to identify and correct them, errors in our technology may be found in the future. Testing
for errors or defects is complicated because it is difficult to simulate the breadth of operating systems, user applications and computing
environments that our customers use, and our solutions themselves are increasingly complex. Errors or defects in our technology have
resulted in terminated work orders and could result in delayed or lost revenue, diversion of development resources and increased services,
termination of work orders, damage to our brand and warranty and insurance costs in the future. In addition, time-consuming implementations
may also increase the number of services personnel we must allocate to each customer, thereby increasing our costs and adversely affecting
our business, results of operations and financial condition.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, since our customers rely on our solutions to operate, monitor and improve the performance of their business processes, they
are sensitive to potential disruptions that may be caused by the use of, or any defects in, our software. As a result, we may be subject
to claims for damages related to software errors in the future. Liability claims could require us to spend significant time and money
in litigation or to pay significant damages. Regardless of whether we prevail, diversion of key employees&#8217; time and attention from
our business, the incurrence of substantial expenses and potential damage to our reputation might result. While the terms of our sales
contracts typically limit our exposure to potential liability claims and we carry errors and omissions insurance against such claims,
there can be no assurance that such insurance will continue to be available on acceptable terms, if at all, or that such insurance will
provide us with adequate protection against any such claims. A significant liability claim against us could have a material adverse effect
on our business, results of operations and financial position. Our standard license agreement with our customers contains provisions
designed to limit our exposure to potential product liability claims that may not be effective or enforceable under the laws of some
jurisdictions. In addition, the professional liability insurance that we maintain may not be sufficient against potential claims. Accordingly,
we could fail to realize revenues and suffer damage to our reputation as a result of, or in defense of, a substantial claim.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Third
parties have in the past, and may in the future, claim that we infringe upon their intellectual property rights and such claims could
harm our business. </i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
software industry is characterized by the existence of a large number of patents and frequent claims and related litigation regarding
patents and other intellectual property rights. In particular, leading companies in the software industry own large numbers of patents,
copyrights, trademarks and trade secrets, which they may use to assert claims against us. From time to time, third parties, including
certain of these leading companies, may assert patent, copyright, trademark or other intellectual property claims against us, our customers
and partners, and those from whom we license technology and intellectual property.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Although
we believe that our products and services do not infringe upon the intellectual property rights of third parties, we cannot assure you
that third parties will not assert infringement or misappropriation claims against us with respect to current or future products or services,
or that any such assertions will not require us to enter into royalty arrangements or result in costly litigation or result in us being
unable to use certain intellectual property. We cannot assure you that we are not infringing or otherwise violating any third-party intellectual
property rights. Infringement assertions from third parties may involve patent holding companies or other patent owners who have no relevant
product revenues, and therefore our own issued and pending patents may provide little or no deterrence to these patent owners in bringing
intellectual property rights claims against us.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
intellectual property infringement or misappropriation claim or assertion against us, our customers or partners, and those from whom
we license technology and intellectual property could have a material adverse effect on our business, financial condition, reputation
and competitive position regardless of the validity or outcome. If we are forced to defend against any infringement or misappropriation
claims, whether they are with or without merit, are settled out of court, or are determined in our favor, we may be required to expend
significant time and financial resources on the defense of such claims. Furthermore, an adverse outcome of a dispute may require us to
pay damages, potentially including treble damages and attorneys&#8217; fees, if we are found to have willfully infringed on a party&#8217;s
intellectual property; cease making, licensing or using our products or services that are alleged to infringe or misappropriate the intellectual
property of others; expend additional development resources to redesign our products or services; enter into potentially unfavorable
royalty or license agreements in order to obtain the right to use necessary technologies or works; and to indemnify our partners, customers,
and other third parties. Royalty or licensing agreements, if required or desirable, may be unavailable on terms acceptable to us, or
at all, and may require significant royalty payments and other expenditures. Any of these events could seriously harm our business, results
of operations and financial condition. In addition, any lawsuits regarding intellectual property rights, regardless of their success,
could be expensive to resolve and divert the time and attention of our management and technical personnel.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Although
we apply measures to protect our intellectual property rights and our source code, there can be no assurance that the measures that we
employ to do so will be successful.</i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
accordance with industry practice, since we have no registered patents on our software solution technologies, we rely on a combination
of contractual provisions and intellectual property law to protect our proprietary technology. We believe that due to the dynamic nature
of the computer and software industries, copyright protection is less significant than factors such as the knowledge and experience of
our management and personnel, the frequency of product enhancements and the timeliness and quality of our support services. We seek to
protect the source code of our products as trade secret information and as unpublished copyright works. We also rely on security and
copy protection features in our proprietary software. We distribute our products under software license agreements that grant customers
a personal, non-transferable license to use our products and contain terms and conditions prohibiting the unauthorized reproduction or
transfer of our products. In addition, while we attempt to protect trade secrets and other proprietary information through non-disclosure
agreements with employees, consultants and distributors, not all of our employees have signed invention assignment agreements. Although
we intend to protect our rights vigorously, there can be no assurance that these measures will be successful. Our failure to protect
our rights, or the improper use of our products by others without licensing them from us could have a material adverse effect on our
results of operations and financial condition.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
and our customers rely on technology and intellectual property of third-parties, the loss of which could limit the functionality of our
products and disrupt our business.</i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
use technology and intellectual property licensed from unaffiliated third-parties in certain of our products, and we may license additional
third-party technology and intellectual property in the future. Any errors or defects in this third-party technology and intellectual
property could result in errors that could harm our brand and business. In addition, licensed technology and intellectual property may
not continue to be available on commercially reasonable terms, or at all. The loss of the right to license and distribute this third-party
technology could limit the functionality of our products and might require us to redesign our products.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Further,
although we believe that there are currently adequate replacements for the third-party technology and intellectual property we presently
use and distribute, the loss of our right to use any of this technology and intellectual property could result in delays in producing
or delivering affected products until equivalent technology or intellectual property is identified, licensed or otherwise procured, and
integrated. Our business would be disrupted if any technology and intellectual property we license from others or functional equivalents
of this software were either no longer available to us or no longer offered to us on commercially reasonable terms. In either case, we
would be required either to attempt to redesign our products to function with technology and intellectual property available from other
parties or to develop these components ourselves, which would result in increased costs and could result in delays in product sales and
the release of new product offerings. Alternatively, we might be forced to limit the features available in affected products. Any of
these results could harm our business and impact our results of operations.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
could be required to provide the source code of our products to our customers.</i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Some
of our customers have the right to require the source code of our products to be deposited into a source code escrow. Under certain circumstances,
our source code could be released to our customers. The conditions triggering the release of our source code vary by customer. A release
of our source code would give our customers access to our trade secrets and other proprietary and confidential information that could
harm our business, results of operations and financial condition. A few of our customers have the right to use the source code of some
of our products based on the license agreements signed with such clients (mostly with respect to older versions of our solutions), although
such use is limited for specific matters and cases, these clients are exposed to some of our trade secrets and other proprietary and
confidential information which could harm us.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Some
of our services and technologies may use &#8220;open source&#8221; software, which may restrict how we use or distribute our services
or require that we release the source code of certain products subject to those licenses.</i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Some
of our services and technologies may incorporate software licensed under so-called &#8220;open source&#8221; licenses, including, but
not limited to, the GNU General Public License and the GNU Lesser General Public License. In addition to risks related to license requirements,
usage of open source software can lead to greater risks than use of third-party commercial software, as open source licensors generally
do not provide warranties or controls on origin of the software. Additionally, open source licenses typically require that source code
subject to the license be made available to the public and that any modifications or derivative works to open source software continue
to be licensed under open source licenses. These open source licenses typically mandate that proprietary software, when combined in specific
ways with open source software, become subject to the open source license. If we combine our proprietary software with open source software,
we could be required to release the source code of our proprietary software.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
take steps to ensure that our proprietary software is not combined with, and does not incorporate, open source software in ways that
would require our proprietary software to be subject to an open source license. However, few courts have interpreted open source licenses,
and the manner in which these licenses may be interpreted and enforced is therefore subject to some uncertainty. Additionally, we rely
on multiple software programmers to design our proprietary technologies, and although we take steps to prevent our programmers from including
open source software in the technologies and software code that they design, write and modify, we do not exercise complete control over
the development efforts of our programmers and we cannot be certain that our programmers have not incorporated open source software into
our proprietary products and technologies or that they will not do so in the future. In the event that portions of our proprietary technology
are determined to be subject to an open source license, we could be required to publicly release the affected portions of our source
code, re-engineer all or a portion of our technologies, or otherwise be limited in the licensing of our technologies, each of which could
reduce or eliminate the value of our services and technologies and materially and adversely affect our business, results of operations
and prospects.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Under
applicable employment laws, we may not be able to enforce covenants not to compete and therefore may be unable to prevent our competitors
from benefiting from the expertise of some of our former employees.</i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
generally enter into non-competition agreements with our employees. These agreements prohibit our employees from competing directly with
us or working for our competitors or clients for a limited period after they cease working for us. We may be unable to enforce these
agreements under the laws of the jurisdictions in which our employees work and it may be difficult for us to restrict our competitors
from benefiting from the expertise that our former employees or consultants developed while working for us. For example, Israeli courts
have required employers seeking to enforce non-compete undertakings of a former employee to demonstrate that the competitive activities
of the former employee will harm one of a limited number of material interests of the employer that have been recognized by the courts,
such as the secrecy of a company&#8217;s confidential commercial information or the protection of its intellectual property. If we cannot
demonstrate that such interests will be harmed, we may be unable to prevent our competitors from benefiting from the expertise of our
former employees or consultants and our ability to remain competitive may be diminished.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our
business may be materially affected by changes to fiscal and tax policies. Potentially negative or unexpected tax consequences of these
policies, or the uncertainty surrounding their potential effects, could adversely affect our results of operations and share price.</i></b></span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
a multinational corporation, we are subject to income taxes, withholding taxes and indirect taxes in numerous jurisdictions worldwide.
Significant judgment and management attention and resources are required in evaluating our tax positions and our worldwide provision
for taxes. In the ordinary course of business, there are many activities and transactions for which the ultimate tax determination is
uncertain. In addition, our tax obligations and effective tax rates could be adversely affected by changes in the relevant tax, accounting,
and other laws, regulations, principles and interpretations. This may include recognizing tax losses or lower than anticipated earnings
in jurisdictions where we have lower statutory rates and higher than anticipated earnings in jurisdictions where we have higher statutory
rates, changes in foreign currency exchange rates, or changes in the valuation of our deferred tax assets and liabilities.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may be audited in various jurisdictions, and such jurisdictions may assess additional taxes against us. If we experience unfavorable
results from one or more such tax audits, there could be an adverse effect on our tax rate and therefore on our net income. Although
we believe our tax estimates are reasonable, the final determination of any tax audits or litigation could be materially different from
our historical tax provisions and accruals, which could have a material adverse effect on our operating results or cash flows in the
period or periods for which a determination is made. Additionally, we are subject to transfer pricing rules and regulations, including
those relating to the flow of funds between us and our affiliates, which are designed to ensure that appropriate levels of income are
reported in each jurisdiction in which we operate.</span></p><div>

</div><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Certain of our credit facility agreements
with banks and other financial institutions are subject to a number of restrictive covenants that, if breached, could result in acceleration
of our obligation to repay our debt. </i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the context of our engagements with banks and
other financial institutions for receiving various credit facilities, we have undertaken to maintain a number of conditions and limitations
on the manner in which we can operate our business, including a negative pledge and limitations on our ability to distribute dividends.
These credit facilities agreements also contain various financial covenants that require us to maintain certain financial ratios related
to shareholders&#8217; equity, total rate of financial liabilities and minimum outstanding balance of total cash and short-term investments.
These limitations and covenants may force us to pursue less than optimal business strategies or forego business arrangements that could
have been financially advantageous to us and, by extension, to our shareholders. A breach of the restrictive covenants could result in
the acceleration of our obligations to repay our debt. As of December 31, 2022, we were in compliance with all of our financial covenants
to banks and other financial institutions. See Note 12 to our consolidated financial statements for additional information on liabilities
to banks and other financial institutions.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Increasing scrutiny and changing expectations
from investors, lenders, customers and other market participants with respect to our Environmental, Social and Governance, or ESG, policies
may impose additional costs on us or expose us to additional risks.</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Companies across all industries are facing increasing
scrutiny relating to their ESG policies. Investors, lenders and other market participants are increasingly focused on ESG practices and
in recent years have placed increasing importance on the implications and social cost of their investments. The increased focus and activism
related to ESG may hinder our access to capital, as investors and lenders may reconsider their capital investment allocation as a result
of their assessment of our ESG practices. If we do not adapt to or comply with investor, lender or other industry shareholder expectations
and standards, which are evolving, or if we are perceived to have not responded appropriately to the growing concern for ESG issues, regardless
of whether there is a legal requirement to do so, we may suffer from reputational damage and the business, financial condition and the
price of our company&#8217;s shares could be materially and adversely affected.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><b><i>Macro-economic
headwinds caused by inflation, rising interest rates, global supply problems and fluctuations in currency exchange rates may adversely
impact our revenues, profitability and cash flows.</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt; background-color: white">Our
business depends on overall demand within the global information technology sector, the economic health of our current and prospective
clients, and worldwide economic conditions. We market and sell our software solutions and services primarily in North America and in Israel,
as well as, to a smaller extent, in various parts of the rest of the world. Adverse economic conditions in those markets, including due
to rising&#160;inflation, increased interest rates and decreased economic output may reduce overall demand for our insurance software
solutions and services. These factors could also delay or lengthen our sales cycles, and inhibit our international expansion, and may
also lead to longer collection cycles for payments due from our customers, as well as result in an increase in customer bad debt. In addition,
the weakening of European currencies in comparison to the U.S. dollar has been adversely impacting in a material manner, and may continue
to adversely impact, our revenues and our results of operations as measured in U.S. dollars. While the implications of&#160;these macroeconomic&#160;trends
for our business, results of operations and overall financial position remain uncertain over the long term, the&#160;headwinds&#160;that
are being created by these trends are creating challenges for our business in the short term. In 2022, we experienced a slower growth
rate in revenues, profitability and cash flows as a result of those headwinds.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">In addition to exerting the
foregoing impact, macro-economic headwinds may amplify a number of risks for us, including, but not limited to, the following:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

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of new, enhanced solutions to existing customers may be hindered due to more cautious purchasing and investment strategies by corporate
customers;</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="font-size: 10pt; text-align: justify"><span style="font-size: 10pt">reduced economic activity, which could lead to a prolonged recession, could negatively impact customer discretionary spending on insurance solutions, which in turn could substantially impact our business operations and financial condition in an adverse manner;</span></td></tr>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The full impact of economic
headwinds on our business and our future performance may also have the effect of heightening any of our other risk factors described in
this annual report, and is difficult to predict how long those trends will continue, so there is some level of risk that any guidance
we provide to the market may turn out to be incorrect.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>If we are unable to maintain effective internal
control over financial reporting in accordance with Sections 302 and 404(a) of the Sarbanes-Oxley Act of 2002, the reliability of our
financial statements may be questioned and our share price may suffer.</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="text-align: justify; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">The Sarbanes-Oxley Act of 2002 imposes
certain duties on us and on our executives and directors. To comply with this statute, we are required to document and test our
internal control over financial reporting, and our independent registered public accounting firm must issue an attestation report on
our internal control procedures, and our management is required to assess and issue a report concerning our internal control over
financial reporting. Our efforts to comply with these requirements have resulted in increased general and administrative expenses
and a diversion of management time and attention, and we expect these efforts to require the continued commitment of significant
resources. We identified a material weakness in our internal control over financial reporting as of December 31, 2022 with respect
to not having adequate trained resources to retain sufficient and precise documentation as evidence for performing business
processes controls (including automated and IT-dependent manual), management review controls, and evidence to demonstrate
completeness and accuracy of information prepared by entity (&#8220;IPE&#8221;). While we are in the process of designing a
remediation plan to improve our internal controls and procedures, we may in the future identify material weaknesses or significant
deficiencies in our assessments of our internal controls over financial reporting. Failure to maintain effective internal control
over financial reporting could result in investigation or sanctions by regulatory authorities, and could adversely affect our
operating results, investor confidence in our reported financial information and the market price of our ordinary shares.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Risks Related to Our Ordinary Shares </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Our Ordinary Shares are traded on more than
one market and this may result in price variations.</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our Ordinary Shares are traded primarily on the
NASDAQ Global Select Market and on the TASE. Trading of our Ordinary Shares on these markets is made in different currencies (U.S. dollars
on the NASDAQ Global Select Market and NIS on the TASE) and at different times (resulting from different time zones, different trading
days and different public holidays in the United States and Israel). Consequently, the trading prices of our Ordinary Shares on these
two markets may differ. Any decrease in the trading price of our Ordinary Shares on one of these markets could cause a decrease in the
trading price of our Ordinary Shares on the other market.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>There is a relatively limited trading volume
for our shares, which reduces liquidity for our shareholders, and may cause the share price to be volatile, all of which may lead to losses
by investors.&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There has historically been limited trading volume
in our Ordinary Shares, both on the NASDAQ Global Select Market and the TASE, which results in reduced liquidity for our shareholders.
As a further result of the limited volume, our Ordinary Shares have experienced significant market price volatility in the past and may
experience significant market price and volume fluctuations in the future, in response to factors such as announcements of developments
related to our business, announcements by competitors, quarterly fluctuations in our financial results and general conditions in the industry
in which we compete.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>We are a foreign private issuer under the
rules and regulations of the SEC and are therefore exempt from a number of rules under the Exchange Act and are permitted to file less
information with the SEC than a domestic U.S. reporting company, which reduces the level and amount of disclosure that you receive. </i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As a foreign private issuer under the Exchange
Act, we are exempt from certain rules under the Exchange Act, including the proxy rules, which impose certain disclosure and procedural
requirements for proxy solicitations. Moreover, we are not required to file periodic reports and financial statements with the SEC as
frequently or as promptly as domestic U.S. companies with securities registered under the Exchange Act; and are not required to comply
with Regulation FD, which imposes certain restrictions on the selective disclosure of material information. In addition, our officers,
directors and principal shareholders are exempt from the reporting and &#8220;short-swing&#8221; profit recovery provisions of Section
16 of the Exchange Act and the rules under the Exchange Act with respect to their purchases and sales of our Ordinary Shares. Accordingly,
you receive less information about our company than you would receive about a domestic U.S. company, and are afforded less protection
under the U.S. federal securities laws than you would be afforded in holding securities of a domestic U.S. company.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As a foreign private issuer whose shares are listed
on the NASDAQ Global Select Market, we are permitted to follow certain home country corporate governance practices instead of certain
requirements of the NASDAQ Stock Market Rules. Among other things, as a foreign private issuer we may also follow home country practice
with regard to, the composition of the board of directors, director nomination procedure, compensation of officers and quorum at shareholders&#8217;
meetings. In addition, we may follow our home country law, instead of the NASDAQ Stock Market Rules, which require that we obtain shareholder
approval for certain dilutive events, such as for the establishment or amendment of certain equity based compensation plans, an issuance
that will result in a change of control of the company, certain transactions other than a public offering involving issuances of a 20%
or more interest in the company and certain acquisitions of the stock or assets of another company. Accordingly, our shareholders may
not be afforded the same protection as provided under NASDAQ&#8217;s corporate governance rules. In addition, as foreign private issuer,
we are not required to file quarterly reviewed financial statements. A foreign private issuer that elects to follow a home country practice
instead of such requirements must submit to NASDAQ in advance a written statement from an independent counsel in such issuer&#8217;s home
country certifying that the issuer&#8217;s practices are not prohibited by the home country&#8217;s laws. In addition, a foreign private
issuer must disclose in its annual reports filed with the SEC each such requirement that it does not follow and describe the home country
practice followed by the issuer instead of any such requirement.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>As of April 1, 2023 our controlling shareholder,
Formula Systems (1985) Ltd., beneficially owns approximately 46.26% of our outstanding Ordinary Shares and therefore has a controlling
influence over matters requiring shareholder approval, which could delay or prevent a change of control that may benefit our public shareholders.
</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Formula Systems (1985) Ltd., or Formula Systems
(symbol: FORTY), an Israeli company whose shares trade on the NASDAQ Global Select Market and the TASE, directly owned 22,710,106 or 46.26%,
of our outstanding Ordinary Shares as of April 1, 2023. Asseco Poland S.A., or Asseco, a Polish company listed on Warsaw Stock Exchange,
owns 25.82% of the outstanding shares of Formula Systems. Guy Bernstein, our Chief Executive Officer who is also the Chief Executive Officer
of Formula Systems, owns as of April 1, 2023 approximately 11.73% of the outstanding shares of Formula Systems.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Although transactions between us and our controlling
shareholders are subject to special approvals under Israeli law, Formula and Asseco may exercise their controlling influence over our
operations and business strategy and use their sufficient voting power to control the outcome of various matters requiring shareholder
approval. These matters may include:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
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    <td style="width: 0.25in; font-size: 10pt; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; font-size: 10pt; text-align: justify">&#160;</td>
    <td style="width: 0.25in; font-size: 10pt; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; font-size: 10pt; text-align: justify">&#160;</td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; font-size: 10pt; text-align: justify">&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This concentration of ownership of our Ordinary
Shares could delay or prevent proxy contests, mergers, tender offers, open-market purchase programs or other purchases of our Ordinary
Shares that might otherwise give one the opportunity to realize a premium over the then-prevailing market price of our Ordinary Shares.
This concentration of ownership may also adversely affect our share price.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>We may be classified as a passive foreign
investment company, or PFIC, which would subject our U.S. investors to adverse tax rules.</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">U.S. holders of our Ordinary Shares may face income
tax risks. Based on the composition of our income, assets (including the value of our goodwill, going-concern value or any other unbooked
intangibles, which may be determined based on the price of the ordinary shares), and operations, we believe we will not be classified
as a &#8220;passive foreign investment company&#8221;, or PFIC, for the 2022 taxable year. However, because PFIC status is based on our
income, assets and activities for the entire taxable year, it is not possible to determine whether we will be characterized as a PFIC
for our current taxable year or future taxable years until after the close of the applicable taxable year. Moreover, we must determine
our PFIC status annually based on tests that are factual in nature, and our status in the current year and future years will depend on
our income, assets and activities in each of those years and, as a result, cannot be predicted with certainty as of the date hereof. Furthermore,
fluctuations in the market price of our ordinary shares may cause our classification as a PFIC for the current or future taxable years
to change because the aggregate value of our assets for purposes of the asset test, including the value of our goodwill and unbooked intangibles,
generally will be determined by reference to the market price of our shares from time to time (which may be volatile). The IRS or a court
may disagree with our determinations, including the manner in which we determine the value of our assets and the percentage of our assets
that are passive assets under the PFIC rules. Therefore, there can be no assurance that we will not be a PFIC for the current taxable
year or for any future taxable year. Our treatment as a PFIC could result in a reduction in the after-tax return to U.S. Holders (as defined
below under Item 10E. &#8220;Additional Information &#8211; Taxation&#8221;) of our Ordinary Shares and would likely cause a reduction
in the value of such shares. A foreign corporation will be treated as a PFIC for U.S. federal income tax purposes if either (1) at least
75% of its gross income for any taxable year consists of certain types of &#8220;passive income,&#8221; or (2) at least 50% of the average
value of the corporation&#8217;s gross assets produce, or are held for the production of, such &#8220;passive income.&#8221; For purposes
of these tests, &#8220;passive income&#8221; includes dividends, interest, gains from the sale or exchange of investment property and
rents and royalties other than rents and royalties that are received from unrelated parties in connection with the active conduct of a
trade or business. If we are treated as a PFIC, U.S. Holders of Ordinary Shares would be subject to a special adverse U.S. federal income
tax regime with respect to the income derived by us, the distributions they receive from us, and the gain, if any, they derive from the
sale or other disposition of their Ordinary Shares. U.S. Holders should carefully read Item 10E. &#8220;Additional Information &#8211;
Taxation&#8221; for a more complete discussion of the U.S. federal income tax risks related to owning and disposing of our Ordinary Shares.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>We have a history of quarterly fluctuations
in our results of operations and expect these fluctuations to continue.</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have experienced, and in the future may continue
to experience, significant fluctuations in our quarterly results of operations. Factors that may contribute to fluctuations in our quarterly
results of operations include:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; font-size: 10pt; text-align: justify">&#160;</td>
    <td style="width: 0.25in; font-size: 10pt; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our customers ordinarily require the delivery
of our license software solutions promptly after we accept their orders. With the exception of contracts for services and packaged software
solution projects, which normally would extend between nine to eighteen months, we usually do not have a backlog of orders for our products.
Consequently, revenues from our products in any quarter depend on orders received and products provided by us and accepted by the customers
in that quarter. A deferral in the placement and acceptance of any large order from one quarter to another or from one year to another
could adversely affect our results of operations for the respective quarter or year. Our customers sometimes require an acceptance test
for services and packaged software solutions projects we provide and as a result, we may have a significant backlog of orders arising
from those services and projects. Our revenues from services depend on orders received and services provided by us and accepted by our
customers in that quarter. If sales in any quarter or year do not increase correspondingly or if we do not reduce our expenses in response
to level or declining revenues in a timely fashion, our financial results for that period may be adversely affected. For these reasons,
quarter-to-quarter comparisons of our results of operations are not necessarily meaningful and you should not rely on the results of our
operations in any particular quarter as an indication of future performance.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Risks Related to Our Location in Israel </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Political, economic and military instability
in Israel may disrupt our operations and negatively affect our business condition, harm our results of operations and adversely affect
our share price. </i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are organized under the laws of the State of
Israel, and our principal executive offices and manufacturing and research and development facilities are located in Israel. As a result,
political, economic and military conditions affecting Israel directly influence us. Any major hostilities involving Israel, a full or
partial mobilization of the reserve forces of the Israeli army, the interruption or curtailment of trade between Israel and its present
trading partners, or a significant downturn in the economic or financial condition of Israel could adversely affect our business, financial
condition and results of operations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">In recent
years, Israel has been subject to certain political instability and increased number of elections were held. Actual or perceived political
instability in Israel or any negative changes in the political environment, may individually or in the aggregate adversely affect the
Israeli economy and, in turn, our business, financial condition, results of operations and growth prospects</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Conflicts in North Africa and the Middle East,
including in Egypt and Syria that border&#160;Israel, have resulted in continued&#160;political uncertainty and violence in the region.
Efforts to improve Israel&#8217;s relationship with the Palestinian Authority have failed to result in a permanent solution, and there
have been numerous periods of hostility in recent years. In addition, relations between&#160;Israel&#160;and Iran continue to be seriously
strained, especially with regard to Iran&#8217;s nuclear program. Such instability may affect the economy, could negatively affect business
conditions and, therefore, could adversely affect our operations. To date, these matters have not had any material effect on our business
and results of operations; however, the regional security situation and worldwide perceptions of it are outside our control and there
can be no assurance that these matters will not negatively affect our business, financial condition and results of operations in the future.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Furthermore, there are a number of countries,
primarily in the Middle East, as well as Malaysia and Indonesia, that restrict business with Israel or Israeli companies, and we are precluded
from marketing our products to these countries. Restrictive laws or policies directed towards Israel or Israeli businesses may have an
adverse impact on our operations, our financial results or the expansion of our business.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Our results of operations may be adversely
affected by the obligation of our personnel to perform military service.</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Many of our executive officers and employees in
Israel are obligated to perform annual reserve duty in the Israeli Defense Forces and may be called for active duty under emergency circumstances
at any time. If a military conflict or war arises, these individuals could be required to serve in the military for extended periods of
time. Our operations could be disrupted by the absence for a significant period of one or more of our executive officers or key employees
or a significant number of other employees due to military service. Any disruption in our operations could adversely affect our business.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>We currently have the ability to benefit
from certain government tax benefits, which may be cancelled or reduced in the future. </i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are currently eligible to receive certain tax
benefits under programs of the Government of Israel. In order to maintain our eligibility for these tax benefits, we must continue to
meet specific requirements. If we fail to comply with these requirements in the future, such tax benefits may be cancelled.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Service and enforcement of legal process
on us and our directors and officers may be difficult to obtain.</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are organized in Israel and some of our directors
and executive officers reside outside the United States. Service of process upon them may be difficult to effect within the United States.
Furthermore, most of our assets and the assets of some of our executive officers are located outside the United States. Therefore, a judgment
obtained against us or any of them in the United States, including one based on the civil liability provisions of the U.S. federal securities
laws may not be collectible in the United States and may not be enforced by an Israeli court. It also may be difficult for you to assert
U.S. securities law claims in original actions instituted in Israel.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Provisions of Israeli law may delay, prevent
or make difficult an acquisition of us, which could prevent a change of control and therefore depress the price of our shares. </i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Israeli corporate law regulates mergers, requires
tender offers for acquisitions of shares above specified thresholds, requires special approvals for transactions involving directors,
officers or significant shareholders and regulates other matters that may be relevant to these types of transactions. Furthermore, Israeli
tax considerations may make potential transactions unappealing to us or to some of our shareholders. These provisions of Israeli corporate
and tax law may have the effect of delaying, preventing or complicating a merger with, or other acquisition of, us. This could cause our
Ordinary Shares to trade at prices below the price for which third parties might be willing to pay to gain control of us. Third parties
who are otherwise willing to pay a premium over prevailing market prices to gain control of us may be unable or unwilling to do so because
of these provisions of Israeli law.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>The rights and responsibilities of our shareholders
are governed by Israeli law and differ in some respects from the rights and responsibilities of shareholders under U.S. law.</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are organized under Israeli law. The rights
and responsibilities of holders of our Ordinary Shares are governed by our memorandum of association, articles of association and by Israeli
law. These rights and responsibilities differ in some respects from the rights and responsibilities of shareholders in typical U.S. corporations.
In particular, a shareholder of an Israeli company has a duty to act in good faith in exercising his or her rights and fulfilling his
or her obligations toward the company and other shareholders and to refrain from abusing his power in the company, including, among other
things, in voting at the general meeting of shareholders on certain matters. Israeli law provides that these duties are applicable in
shareholder votes at the general meeting with respect to, among other things, amendments to a company&#8217;s articles of association,
compensation policy, increases in a company&#8217;s authorized share capital, mergers and actions and transactions involving interests
of officers, directors or other interested parties which require the shareholders&#8217; general meeting&#8217;s approval. In addition,
a controlling shareholder of an Israeli company or a shareholder who knows that he or she possesses the power to determine the outcome
of a vote at a meeting of our shareholders, or who has, by virtue of the company&#8217;s articles of association, the power to appoint
or prevent the appointment of an office holder in the company, or any other power with respect to the company, has a duty of fairness
toward the company. The Israeli Companies Law does not establish criteria for determining whether or not a shareholder has acted in good
faith.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Our corporate headquarters, board of directors,
many of our executives, and a portion of our employees are located in Israel and we may therefore be adversely affected by security, economic
or political instability in Israel.</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Our corporate headquarters,
as well as our directors, many of our executives, and a portion of our employees (including key employees), are located in or residents
of Israel. Accordingly, adverse security, economic and political conditions in Israel may directly affect our business. Since the establishment
of the State of Israel, a number of armed conflicts have taken place between Israel and its neighboring countries. Recent conflicts have
involved missile strikes against civilian targets in various parts of Israel, including areas where our facilities are located, and negatively
affected business conditions in Israel. Any armed conflicts, terrorist activities or political instability in the region could adversely
affect business conditions, harm our results of operations and make it more difficult for us to raise capital.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In
addition to security concerns, the Israeli government is currently pursuing certain changes to Israel&#8217;s judicial system and legislation.
In response to the foregoing proposed changes, some individuals, organizations and institutions, both within and outside of Israel, have
commented that the proposed changes may negatively impact the business environment in Israel, including due to increased currency fluctuations
and downgrades in credit rating. To the extent that any of these negative developments do occur, they may have an adverse effect on our
business and results of operations.

</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_008"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>ITEM
4. <span style="text-decoration:underline">INFORMATION ON THE COMPANY</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="m_009"></a></div><p style="font: small-caps 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b><span style="font-variant: small-caps">A.
History And Development Of The Company</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Corporate details </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our legal and commercial name is Magic Software
Enterprises Ltd. We were organized and registered in Israel on February 10, 1983 and began operations in 1986. We are a public limited
liability company and operate under the provisions of the state of Israel. Our Ordinary Shares have been listed on the NASDAQ Global Stock
Market (symbol: MGIC) since our initial public offering in the United States on August 16, 1991. On January 3, 2011, our shares were transferred
to the NASDAQ Global Select Market. Since November 16, 2000, our Ordinary Shares have also traded on the Tel Aviv Stock Exchange, or the
TASE, and since December 15, 2011, our shares have been included in the TASE TA-125 Index.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Capital Transactions since January 1, 2020</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 1, 2020, we acquired an additional
20.05% interest in our subsidiary, Roshtov Software Industries Ltd (&#8220;Roshtov&#8221;), an Israeli-based software company that is
a market leader in Israel in patient record information systems, for a total cash consideration of approximately $15 million, which was
paid upon closing. We currently hold 80.05% of Roshtov. We and the sellers hold mutual call and put options for the remaining 19.95% interest
in Roshtov.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 15, 2020, we acquired an additional
10.17% interest in our subsidiary Comblack IT Ltd. (&#8220;Comblack&#8221;), an Israeli-based company that specializes in software
professional and outsource management services for mainframes and complex large-scale environments, for a total cash consideration
of approximately $3.6 million, of which $3 million was paid upon closing and the remainder is payable over a period of up to 18
months. In addition to the cash consideration, we have in place a contingent consideration mechanism according to which an
additional amount may be paid in the event Comblack meets certain income thresholds. In April 2022, based on Comblack operating
results in 2020 and 2021, we paid an additional NIS 1.7 million as final consideration with respect to the contingent consideration.
We currently hold an 80.2% stake in Comblack. Comblack holds a put option in respect to its remaining 19.8% holding.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 7, 2020, we acquired Aptonet Inc (&#8220;Aptonet&#8221;),
a U.S.-based services company, specializes in IT staffing and recruiting, for a total consideration of $4.7 million of which $3.7
million was paid upon closing and the remaining $1.0 million was payable in two installments, six and twelve months following the
closing date. During 2020 and 2021, we paid the remainder of the consideration in two equal installments of $0.5 million each.&#160;</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 2, 2020, we acquired Stockell Information
Systems, Inc (&#8220;Stockell&#8221;), a U.S.-based services company, specializes in IT staffing and recruiting, for a total consideration
of $7.714 million, of which $6.265 million was paid upon closing and the remaining $1.449 million was payable twelve months
following the closing date. In December 2021, following the discovery of a few discrepancies in the sellers&#8217; disclosures, we paid
$0.76 million as final consideration to settle the remainder of the purchase price.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 1, 2021, we, through one of our Israeli
subsidiaries, acquired 60% of the shares of 9540 Y.G. Soft IT Ltd. (&#8220;Soft IT&#8221;), an Israel-based services company which specializes
in outsourcing of software development services for a total consideration of up to $1.1 million. We paid $0.4 million upon closing, $0.3
million was paid on July 4, 2021, and the remaining amount of $0.4 million constitutes a contingent payment depending on the future operating
results of IT Soft. The fair value of the contingent consideration amounted to $0.5 million as of the acquisition date. We and Soft IT
minority shareholder hold mutual call and put options for the remaining 40% interest.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 1, 2021, we acquired EnableIT, LLC and
its subsidiary (&#8220;EnableIT&#8221;), a U.S.-based services company, specializing in IT staffing and recruiting, for a total consideration
of $6.0 million, of which $4.0 million was paid upon closing and the remaining $2.0 million was paid in two equal installments on April
1, 2022 and April 1, 2023.</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Also on April 1, 2021, we acquired Menarva Ltd.
(&#8220;Menarva&#8221;), an Israeli-based services company which specializes in software solutions for non-profit organizations for a
total estimated consideration of up to $5.594 million, of which, $3.0 million was paid upon closing, with the remaining $2.594 million
payable in two equal installments on April 1, 2022 and 2023, contingent upon the operational results of Menarva. On March 31, 2022, we
paid an amount of $1.1 million.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 2, 2021, we entered into a share purchase
agreement to acquire 50.1% of the outstanding share capital of Appush Ltd. (formerly known as Vidstart Ltd.) (&#8220;Appush&#8221;). Appush
is a provider of a video advertising platform that offers personalized automated methods and real-time smart optimization, helping its
clients achieve high yields in the competitive digital ecosystem. The final closing and execution of the Appush Agreement occurred on
January 27, 2022. The total purchase price was approximately $21 million, pf which $11 million were paid in cash, in addition to $1.5
million as an advance payment for future acquisition of the remainder of Appush&#8217;s shares. Furthermore, we were obliged to purchase
the remainder of Appush&#8217;s shares (30% on December 31, 2022 and 19.9% on December 31, 2023) for a price contingent on Appush&#8217;s
future operating results during 2022 and 2023.&#160;On April 2022 and 2023, we acquired the remainder of Appush&#8217;s shares and we
now hold 100% of its shares.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On August 23, 2022, the Company acquired The Goodkind Group, LLC (&#8220;TGG&#8221;).
TGG provides permanent and temporary staffing needs in verious sectors including: Information Technology, Accounting &amp; Finance, Digital
Media, Marketing, Human Resource, Financial Services. TGG specializes in customizing solutions and programs to their clients. With On-Site
programs and sourcing models the Company solutions includes functions which differs from standard staffing companies. TGG provides assistance
in the areas of compensation design and development, employee opinion surveys, employment policies and practices, performance management,
regulatory and compliance issues and succession planning, for a total consideration of $11.6 million, subject to net working capital
adjustments. Of which, $8 million was paid upon closing. The remainder constitues a deferred payment payable in 2023 and 2024.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On July 1, 2022, the Company acquired Intrabases SAS (&#8220;Intrabases&#8221;),
a provider of IT professional services based in Nantes, France. The consideration of the transaction is comprised solely from a cash consideration
in an amount of $3.4 million.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our fixed assets capital expenditures for the
years ended December 31, 2020, 2021 and 2022 were approximately $2.8 million, $1.4 million, and $4.4 million, respectively. These expenditures
were principally for network equipment and computer hardware, as well as for vehicles, furniture, office equipment and leasehold improvements.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_010"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b><span style="font-variant: small-caps">B.
Business Overview</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our legal and commercial name is Magic Software
Enterprises Ltd., and we were organized and registered in Israel on February 10, 1983 and began operations in 1986. We are a global provider
of: (i) software services and Information Technologies (&#8220;IT&#8221;) outsourcing software services; (ii) proprietary application
development and business process integration platforms; (iii) selected packaged vertical software solutions, as well as (iv) cloud based
services for end to end digital transformation.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our software technology is used by customers to
develop, deploy and integrate on-premise, mobile and cloud-based business applications quickly and cost effectively. In addition, our
technology enables enterprises to accelerate the process of delivering business solutions that meet current and future needs and allow
customers to dramatically improve their business performance and return on investment. We also provide selected verticals with a complete
software solution and return on investment.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Based on our technological capabilities and our
specialists, we enable our clients to respond to rapidly evolving market needs and regulatory changes, while improving the efficiency
of their core operations. We have approximately 4,161 employees, who serve our clients at any given time and whose skills and specialization
are a significant source of competitive differentiation. We operate through a network of over 3,000 independent software vendors, or ISVs,
who we refer to as Magic Software Providers, or MSPs, and hundreds of system integrators, distributors, resellers, and consulting and
OEM partners. Thousands of enterprises in approximately 50 countries use our products and services.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span style="text-decoration:underline">Our software technology platforms </span></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Organizations across all industries are digitally
transforming by leveraging software to automate and optimize mission critical operations, enhance customer experiences, and drive competitive
differentiation. Historically, organizations have principally relied on off-the-shelf packaged software and custom software solutions
to operationalize and automate their businesses. Packaged software often fails to address unique use cases or to enable differentiation.
It also requires organizations to adapt their business (processes, systems of record, etc.) to the software package, as opposed to adapting
the software to their unique business needs. While traditional custom software solutions can be differentiated and tailored to meet strategic
objectives, development requires a long, iterative, and cumbersome process, as well as costly integration that relies on scarce developer
talent. We enable organizations to differentiate themselves from their competition through software-enabled digital transformation.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Throughout our history, we have traditionally
maintained two major lines of products, one is our application development platform, which today is known as Magic xpa Application Platform,
an evolution of our original metadata-based development platform; and the second is our application integration platform, Magic xpi Integration
Platform, originally introduced in 2003 under the name iBOLT. In December 2011, we acquired the AppBuilder development platform of BluePhoenix
Solutions Ltd., a leading provider of value-driven legacy IT modernization solutions. AppBuilder is a comprehensive application development
infrastructure used by many Fortune 1000 enterprises around the world. This enterprise application development environment is a powerful,
model-driven tool that enables development teams to build, deploy, and maintain large-scale, custom-built business applications. On April
2019, we acquired the SmartUX development platform of PowWow Inc., a leading Low-Code enterprise mobile development application platform
for citizen to professional developers to rapidly design, build, analyze, and run cross-platform mobile business applications.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our low-code platforms employ an intuitive, visual
interface and pre-built development modules that reduce the time required to build powerful and unique applications. Our platform automates
the creation of forms, workflows, data structures, reports, user interfaces, and other software elements that would otherwise need to
be manually coded. This functionality greatly reduces the iterative development process, allowing for real-time optimization and ultimately
shortening the time it takes to design, build, and deploy applications.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our customers leverage our technologies to apply
the right automation approach for their specific use case. We believe our unified low-code platforms are a differentiator in the marketplace.
We strive to deeply integrate our capabilities so that they are all interoperable and low-code making it easier and faster for our clients
to address complex use cases, particularly those that involve multiple departments within an organization</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our software technology platforms consist of:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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    <td style="width: 0.25in; text-align: justify">&#160;</td>
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    <td style="text-align: justify"><span style="font-size: 10pt"><b>Magic xpa Application Platform</b> &#8211; a proprietary low-code application platform for developing and deploying Client Server/Mobile/Web business applications.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

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    <td style="text-align: justify"><span style="font-size: 10pt"><b>AppBuilder Application Platform</b> &#8211; a proprietary low-code application platform for building, deploying, and maintaining high-end, mainframe-grade business applications.</span></td></tr>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="text-align: justify"><span style="font-size: 10pt"><b>Magic xpi Integration Platform</b> &#8211; a proprietary low-code
    platform for application integration</span></td></tr>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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    <td style="text-align: justify"><span style="font-size: 10pt"><b>Magic xpi cloud native</b> &#8211; an environment configurations
    platform based on Kubernetes focuses on scalability, security and resilience.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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    <td style="text-align: justify"><span style="font-size: 10pt"><b>Magic SmartUX</b> &#8211; a proprietary low-code enterprise mobile
    development application platform for citizen to professional developers to rapidly design, build, analyze, and run cross-platform
    mobile business applications.</span></td></tr>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

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    <td style="text-align: justify"><span style="font-size: 10pt"><b>FactoryEye </b>&#8211; a cloud-based pre-packaged but flexible end-to-end data management platform for manufacturers enabling smooth migration to Industry 4.0 smart factories. Real-time factory floor visibility and optimization is provided as part of the end-to-end visibility to maximize production performance and ongoing improvement.</span></td></tr>
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    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td>&#160;</td></tr>
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    <td style="text-align: justify"><span style="font-size: 10pt"><b>Magic Data Management and Analytics Platform </b>&#8211; a cloud-based pre-packaged but flexible end-to-end data management platform for all verticals enabling smooth digital transformation and full organizational business intelligence</span></td></tr>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span style="text-decoration:underline">Our vertical software packages</span></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
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  <tr style="vertical-align: top">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span style="text-decoration:underline">Our professional software and IT services</span></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our software professional services offerings include
a vast portfolio of professional services in the areas of infrastructure design and delivery, application development, technology consulting
planning and implementation services, support services, DevOps (Development &amp; Operations), Mobile, Big Data and Analytical BI, M/F,
cloud computing for deployment of highly available and massively-scalable applications and APIs and supplemental IT outsourcing services
to a wide variety of companies, including Fortune 1000 companies, all in accordance with the professional expertise required in each case
with our goal to create significant value for our clients in managing, streamlining, accelerating and helping their businesses thrive.
The talents we provide generally supplement in-house capabilities of our customers. We have extensive and proven experience with virtually
all types of telecom infrastructure technologies in wireless and wire-line as well as in the areas of infrastructure design and delivery,
application development, project management, technology planning and implementation services.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We&#160;have substantial experience in end-to-end
development of high-end software solutions, beginning with collection and analysis of system requirements, continuing with architecture
specifications and setup, to software implementation, component integration and testing. From concept to implementation, from application
of the ideas of startups requiring the early development of an application or a device, to somewhat larger, more established enterprises,
vendors or system houses who need our team of experts to take full responsibility for the development of their systems and products. With
our ability to draw on our pool of resources, comprised of hundreds of highly trained, skilled, educated and flexible engineers, we adhere
to timelines and budget and work in full transparency with our customers every step of the way to create a tailor-made and cost-effective
solution to answer all of our customers&#8217; unique needs.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our IT services subsidiaries consist of:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

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    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Xsell Resources Inc.</span></td></tr>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

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    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Futurewave Systems, Inc.</span></td></tr>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

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    <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">The GoodKind Group LLC.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

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    <td style="text-align: justify"><span style="font-size: 10pt">CommIT Group</span></td></tr>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

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    <td style="text-align: justify"><span style="font-size: 10pt">Comblack Ltd</span></td></tr>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

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    <td style="text-align: justify"><span style="font-size: 10pt">Infinigy Solutions</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

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    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Shavit Software Ltd.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

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    <td style="width: 0.25in; text-align: justify">&#160;</td>
    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">OnTarget Group Inc</span></td></tr>
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    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
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    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Aptonet Inc</span></td></tr>
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    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
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    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Stockell information systems</span></td></tr>
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    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
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    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">EnableIT LLC</span></td></tr>
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    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
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    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Appush Ltd</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Partnerships and Alliances:</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We continue to build on our existing strategic
partnerships that include partnerships with Oracle, JD Edwards, SAP, Salesforce.com, Microsoft, IBM and SugarCRM to enhance our mobile,
integration and cloud offerings.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In March 2018, following an extension of our partnership
with Salesforce, we included new features in our Magic&#160;xpi&#160;4.7 to make the integration between Salesforce and other systems
even easier. By collaborating with Salesforce, we are significantly expanding our partners&#8217; network and maximizing our service offering
to customers around the world, enabling them to better serve their customers via all channels by connecting to back-office ERP and finance
applications, and streamlining business processes across numerous applications. We have reached the status of Salesforce Premier ISV partner,
showing our high competence expert level, ensuring that all of our customers enterprise software is faultlessly integrated.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are an Oracle Platinum Partner holding an Oracle
Validated Integration status, a SAP Channel Gold Partner holding SAP Certified Integration status, an IBM Server Proven, and a SYSPRO
business partner, among others. We appear on the Salesforce AppExchange and are a featured partner on SugarCRM&#8217;s Sugar Exchange,
marketplaces for apps provided by partners. We continue to update and strengthen our relationships with these major IT partners by attending
partner events and by updating and certifying our Magic xpi connectors for each specific ecosystem.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In December 2018, we achieved Microsoft Gold Competency
and have maintained this elite status since then. Gold Competency is Microsoft&#8217;s highest level of partner certification reserved
for the top one percent of Microsoft elite partners worldwide who have demonstrated expertise and proven skills with a particular Microsoft
technology or service. In addition to that, we earned the Co-Sell Ready Status as a member in the Microsoft One Commercial Partner (OCP)
Program, Magic xpi, which maps data, automates business processes and connects apps, databases, APIs with built-in Microsoft connectors,
and FactoryEye, a 100% cloud-native, microservices-based integration platform are available on the Microsoft AppSource app store and are
listed on the Microsoft Azure Marketplace.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In May 2020, our CommIT Group, achieved Amazon
AWS SaaS Competency status. AWS SaaS Competency is designated to help customers find top AWS consulting partners with deep specialization
and experience in designing and building software-as-a-service solutions on AWS. Organizations are interested in software that is easy
to use, implement, and operate. They are looking to reduce time-to-value and obtain access to innovative product features and flexible
software procurement on a consumption or contractual basis. AWS SaaS Competency Partners follow Amazon Web Services (AWS) best practices
for designing and building SaaS solutions through their professional services practices. To qualify for the AWS SaaS Competency designation,
organizations have undergone rigorous technical validation by AWS Partner Solutions Architects and demonstrated proven customer success.
In recent years, Commit has successfully led, developed and produced many SaaS solutions on AWS for companies across many business sectors,
including high-tech and startups, industrial and retail, and insurance and finance. Commit&#8217;s unique, flexible R&amp;D model, which
provides complete flexibility in determining the mix of experts, allows for full control of budgets and schedules throughout the development
project. In this framework, We accompany our clients in their digital journey and in their entry into the SaaS world, providing design
and build services for application environments or migration services for applications from existing models to cloud SaaS models. These
processes require software architecture, construction, and software development from both Digital and SaaS, all of which take into account
performance aspects, information security, scalability, infrastructure monitoring, customer experience and billing. Achieving AWS SaaS
Competency status allows us to expand our business offering and even accompany the organizational change for customers who are in the
process of transitioning to SaaS.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Industry Overview</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In recent years, the number of available enterprise
applications has grown significantly which has led information system complexity within many organizations to a level that has obstructed
business progress and evolution, reduced business agility and led to significantly higher costs. We believe this complexity will continue
to increase in the future. Although it is not unusual for organizations to operate multiple applications, systems and platforms that were
created utilizing disparate programming languages, the complexity of these environments typically reduces an organization&#8217;s operating
flexibility, hinders decision-making processes and leads to costly inefficiencies and redundancies. When organizations seek to swiftly
change, update and upgrade IT assets to support new business processes or to cope with changes in business and regulatory environments,
they often find that the introduction and integration of new or upgraded business applications is more complex than expected, requires
significant implementation resources, takes a long time to implement and is costly. The proliferation of smartphones and mobile platforms
necessitates device-independent and future-proof business solutions for fast, simple, and cost-effective mobile deployment. In addition,
new cloud computing technologies present enterprises with an opportunity to realize greater agility and meaningful cost savings to businesses,
creating a growing need for further changes to enterprises&#8217; IT applications and systems.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The pace of digital transformation is also accelerating
at companies all around the world. Customers are increasingly demanding an all-digital experience from the companies they do business
with. They seek instant gratification through real-time updates or instant customer service without having to talk to or wait for other
human beings. Employees are also pushing for a more digital experience in their workplaces. The confluence of these internal and external
forces is causing companies of all sizes to put digital transformation goals at the top of the agenda. It is becoming clearer that companies
will need to embrace and prioritize the creation of a digital operating environment to gain a competitive edge and be able to recruit
and maintain a talented employee base.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Manual coding and application development is a
complex and time-consuming process with an end result that is not guaranteed. The process requires constant iteration as bugs are discovered
and new features are integrated. In addition, the communication gap and general disconnect between developers and end-users are critical
shortcomings of manual coding that results in business applications that are less than ideally designed. Many of these problems can be
addressed by low-code and no-code development platforms. The enterprise application development software market consists of several application
development sub-segments and includes large dominant players such as IBM, Microsoft, Oracle, Salesforce, HP, CA Technologies and Compuware
as well as a large number of highly specialized vendors, with focused capabilities for specific vertical markets. Huge backlogs of enterprise
app development work and growing demand for apps coupled with shortage and expense of skilled programmers, is increasingly leading enterprises
to turn to low-code/no-code application development platforms that democratize the development process and give business users the ability
to develop applications themselves with minimal or no assistance from IT. Through the adoption of business applications, these business
users are increasingly looking for ways to automate manual workflows and become more efficient and effective by reallocating their time
to solving more complex business problems. Even IT resources and developers are using low-code development tools to increase their development
speed and reduce backlog.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Although the market for low-code development platforms
is not new by any means, it has certainly started to gain more traction over the past couple of years and is expected to continue its
strong growth due to continued demand for applications and a shortage of skilled developers. Low-code development is a natural evolution
of rising abstraction levels in application development, which will eventually lead to viable cross-enterprise, highly scalable citizen
development and composition of applications. According to market analysts spending on low-code development technologies (excluding RPA)
is expected to grow from $9.6 billion in 2020 to $24.7 billion by 2025, at a CAGR of 21%. Based on Gartner&#8217;s, Magic Quadrant for
Enterprise Low Code Application Platforms, 8 August 2019, by 2024 low-code application platforms will be responsible for more than 65
percent of all application development activity and three-quarters of large enterprises will be using at least four low-code development
tools for both IT application development and citizen development initiatives. The increasing need of digitalization and maturity of agile
DevOps practices are expected to enhance the use of low-code development platform market across the globe. Web application is considered
as a face of an organization and by using the low-code development platform organizations can roll out user-defined web-based applications
quickly. Instead of writing the programming language for the development of web-based applications, employees with less development experience
can also create sophisticated applications. For those who has relevant experience, this platform can ease out the daily work chores and
can even help them create more custom web-based applications by integrating already existing digital ecosystems. North America has the
presence of several prominent market players delivering low-code development platform and services to all end users in the region. The
US and Canada both have strong economic conditions and are expected to be major contributors to the growth of the low-code development
platform market. The geographical presence, significant research and development (R&amp;D) activities, partnerships, and acquisitions
and mergers are the major factors for the deployment of low-code development platform and services.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The IT services segment of the market is comprised
of a broad array of specific segments such as infrastructure design and delivery, application development, technology consulting planning
and implementation services, support services and supplemental outsourcing services. In addition, IT professional services include quality
assurance, product engineering services and process consulting. The IT services segment is also undergoing a profound transition, with
some key trends that have accelerated recently. Growing demand for mobile and cloud-based applications as well as Big Data solutions also
entails more complex IT development and integration projects which management and implementation require a higher level of expertise,
In addition, the typical software-based projects of IT consulting have been gradually shifting towards software and technology-driven
solutions that can be embedded into clients&#8217; systems, providing ongoing engagement services. This transition has been accentuated
by an underlying change in IT services sourcing processes: the need for a faster go-to-market process as well as constrained resources
in IT departments is resulting in greater influence by specific business units on the purchasing decision as opposed to the traditional
sourcing process. The traditional outsourcing business model of capacity on demand is also transitioning towards a model of capability
on demand. Information technology service buyers are increasingly looking at outcome-driven managed services with a tighter integration
between software, service and infrastructure.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have identified the following trends that are
relevant to the markets we operate in:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt"><b>Increasingly complex business integration</b>: In recent years, enterprises operate multiple applications and platforms, using various programming languages, resulting in complex enterprise information systems. Such systems and the ability to swiftly change, update, and upgrade them to support new business processes are crucial to the enterprise&#8217;s ability to cope with changes in the business, economic and regulatory environment. However, the introduction and integration of new business applications is complex, requires significant time and human resources and entails significant and often unpredicted costs. Therefore, enterprises are in need of solutions that will facilitate the rapid and seamless deployment of business applications.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
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    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
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    <td style="text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt"><b>Cloud, Platform-as-a-Service and Software-as-a-Service</b>: Cloud, Platform-as-a-Service (PaaS) and Software-as-a-Service (SaaS) are each becoming a well-established phenomenon in some areas of enterprise IT. Cloud-hosted applications continue to grow as alternatives to internally managed systems as they deliver greater agility and meaningful cost savings to businesses. In addition, fast time-to-deployment, low cost-of-entry, and adoption of pay-as-you-go models drive growing adoption of SaaS applications. In turn, SaaS applications enable the rapid construction, deployment and management of some custom-built applications accessed as a service in the cloud. With more SaaS deployments, the need for integration tools that bridge the cloud apps with on-premise application increases.</span></td></tr>
  </table><div>
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  </table><div>
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    <td style="text-align: justify"><span style="font-size: 10pt"><b>Mobility &amp; IT skills shortage:</b> Growth in mobility skills demand is outpacing organizations&#8217; ability to keep up, resulting in mobile strategists facing a skills shortage across the entire mobility ecosystem, with mobile application development skills in greatest demand. Poor availability of skilled staff is driving mobile strategists to outsource many functions across the mobility ecosystem, including application development and testing services. The increasing mobility skills gap will force mobile strategists to use a multifaceted application development and delivery approach.</span></td></tr>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span style="text-decoration:underline">Magic&#8217;s Software Solutions</span></b></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our software solutions enable enterprises to accelerate
the planning, development, deployment and integration of on-premise, mobile and cloud business applications that can be rapidly customized
to meet current and future needs. Our software solutions and complementary professional services empower customers to dramatically improve
their business performance and return on investment by enabling the cost-effective and rapid delivery, integration and mobilization of
business applications, systems and databases. Our technology and solutions are especially in demand when time-to-market considerations
are critical, budgets are tight, and integration is required with multiple platforms or applications, databases or existing systems and
business processes, as well as for RIA and SaaS applications. Our technology also provides the option to deploy our software capabilities
in the cloud, hosted in a web services cloud computing environment. We believe these capabilities provide organizations with a faster
deployment path and lower total cost of ownership. Our technology also allows developers to stage multiple applications before going live
in production.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Development communities are facing high complexity,
cost and extended pay-back periods in order to deliver cloud, RIAs, mobile and SaaS applications. Magic xpa, AppBuilder, Magic SmartUX,
Magic xpi, Magic FactoeyEye and Magic&#8217;s Data Management and Analytics platform all provide MSPs with the ability to rapidly build
integrated applications in a more productive manner, deploy them in multiple modes and architectures as needed, lower IT maintenance costs
and speed time-to-market. Our solutions are comprehensive and industry proven. These technologies can be applied to the entire software
development market, from the implementation of micro-vertical solutions, through tactical application modernization and process automation
solutions, to enterprise spanning service-oriented architecture, or SOA, migrations and composite applications initiatives. Unlike most
competing platforms, we offer a coherent and unified toolset based on the same proven metadata driven and rules-based declarative technology.
Our low-code, metadata platforms consist of pre-compiled and pre-written technical and administrative functions, which are essentially
ready-made business application coding that enables developers to bypass the intensive technical code-writing stage of application development
and integration, concentrate on building the correct logic for their apps and move quickly and efficiently to deployment. Through the
use of metadata-driven platforms such as Magic xpa, AppBuilder, Magic SmartUX, Magic xpi, Magic FactoryEye and Magic&#8217;s Data Management
and Analytics platform, software vendors and enterprise customers can experience unprecedented cost savings through fast and easy implementation
and reduced project risk.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our software technology solutions include application
platforms for developing and deploying specialized and high-end large-scale business applications and integration platforms that allow
the integration and interoperability of diverse solutions, applications and systems in a quick and efficient manner. These solutions enable
our customers to improve their business performance and return on investment by supporting the affordable and rapid delivery and integration
of business applications, systems, and databases. Using our software solutions, enterprises and ISVs can accelerate time-to-market by
rapidly building integrated solutions, deploying them in multiple environments while leveraging existing IT resources. In addition, our
solutions are scalable and platform-agnostic, enabling our customers to build solutions by specifying their business logic requirements
in a commonly used language rather than in computer code, and to benefit from seamless platform upgrades and cross-platform functionality
without the need to re-write applications. Our technology also enables future-proof protection and supports current market trends such
as the development of mobile applications that can be deployed on a variety of smartphones and tablets, and cloud environments. In addition,
we also offer a variety of vertical-targeted products that are focused on the needs and requirements of specific growing markets. Certain
of these products were developed utilizing our application development platform.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We sell our solutions globally through our own
direct sales representatives and offices and through a broad sales distribution network, including independent country distributors, independent
service vendors that use our technology to develop and sell solutions to their customers, and system integrators. We also offer software
maintenance, support, training, and consulting services in connection with our products, thus aiding the successful implementation of
projects and assuring successful operation of the platforms once installed. We sell our integration solutions to customers using specific
popular software applications, such as SAP, Salesforce.com, IBM i (AS/400), Oracle JD Edwards, Microsoft SharePoint, Microsoft Dynamics,
SugarCRM and other eco-systems. As such, we enjoy a well-diversified client base across geographies and industries including oil &amp;
gas companies, telecommunications groups, financial institutions, healthcare providers, industrial companies, public institutions, and
international agencies.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The underlying principles and purpose of our technology
are to provide:</p><div>

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    <td style="text-align: justify"><span style="font-size: 10pt"><b>Simplicity </b>&#8211; the use of code-free/low code development tools instead of hard coding and multiple programming languages to solve critical and complex challenges;</span></td></tr>
  </table><div>
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    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt"><b>Business focus</b> &#8211; the use of pre-compiled business logic and components eliminates repetitive, low level technical and coding tasks;</span></td></tr>
  </table><div>
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    <td style="text-align: justify"><span style="font-size: 10pt"><b>Comprehensiveness </b>&#8211; the use of a comprehensive development and deployment platform offers a full end-to-end development, deployment and integration capability;</span></td></tr>
  </table><div>
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  <tr style="vertical-align: top">
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    <td style="text-align: justify"><span style="font-size: 10pt"><b>Automation of mundane tasks</b> &#8211; to accelerate development and maintenance and reduce risk; and</span></td></tr>
  </table><div>
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  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
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    <td style="text-align: justify"><span style="font-size: 10pt"><b>Interoperability </b>&#8211; to support business logic across multiple hardware and software platforms, operating systems and geographies.</span></td></tr>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We offer three complementary application platforms
that address the wide spectrum of composite applications, Magic xpa, Magic SmartUX and AppBuilder. Our Magic xpi integration platform,
Magic FactoryEye and Magic&#8217;s Data Management and Anaytics platform deliver fast and simple integration and orchestration of business
processes and applications. Our customers operate in a wide variety of industries, including financial services, life sciences, government,
telecommunications, energy and manufacturing.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Magic xpa Application Platform</b></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Magic xpa Application Platform, our metadata driven
application platform, provides a simple, low code and cost-effective development and deployment environment that lets organizations and
MSPs quickly create user-friendly, enterprise-grade, multi-channel mobile and desktop business app that employ the latest advanced functionalities
and technologies. The Magic xpa Application Platform, formerly named uniPaaS, was first released in 2008 and is an evolution of our original
eDeveloper product, a graphical, rules-based and event-driven framework that offered a pre-compiled engine for database business tasks
and a wide variety of generic runtime services and functions which was released in 2001.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have continually enhanced our Magic xpa application
platform to respond to major market trends such as the growing demand for cloud-based offerings including Rich Internet Applications (RIA),
mobile applications and SaaS. Accordingly, we have added new functionalities and extensions to our application platform, with the objective
of enabling the development of RIA, SaaS, mobile and cloud-enabled applications. SaaS is a business and technical model for delivering
software applications, similar to a phone or cable TV model, in which the software applications are installed and hosted in dedicated
data centers and users subscribe to these centers and use the applications over an internet connection. This model requires the ability
to deliver RIA. Magic xpa is a comprehensive RIA platform. It uses a single development paradigm that handles all ends of the application
development and deployment process including client and server partitioning and the inter-communicating layers.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Magic xpa offers customers the power to choose
how they deploy their applications, whether full client or web; on-premise or on-demand; in the cloud or behind the corporate firewall;
software or mobile or SaaS; global or local. Our Magic xpa Application Platform complies with event driven and service oriented architectural
principles. By offering technology transparency, this product allows customers to focus on their business requirements rather than technological
means. The Magic xpa single development paradigm significantly reduces the time and costs associated with the development and deployment
of cloud-based applications, including RIAs, mobile and SaaS. In addition, application owners can leverage their initial investment when
moving from full client mode to cloud mode, and modify these choices as the situation requires. Enterprises can use cloud-based Magic
xpa applications in a SaaS model and still maintain their databases in the privacy of their own data centers. Magic xpa also supports
most hardware and operating system environments such as Windows, Unix, Linux and AS/400, as well as multiple databases and is interoperable
with .NET and Java technologies.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Magic xpa can be applied to the full range of
software development, from the implementation of micro-vertical solutions, through tactical application modernization and process automation
solutions, to enterprise spanning SOA migrations and composite applications initiatives. Unlike most competing platforms, we offer a coherent
and unified toolset based on the same proven metadata driven and rules based declarative technology, resulting in increased cost savings
through fast and easy implementation and reduced project risk.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Magic xpa enables organizations to differentiate
themselves from their competition through software-enabled digital transformation. With our platform, organizations can rapidly and easily
design, build and implement powerful, enterprise-grade custom applications through our intuitive, visual interface, with little or no
coding required. Our Solution ensures that applications developed on our platform can be immediately and natively deployed across a full
range of mobile and desktop devices with no additional customization, including desktop web browsers, tablets and mobile phones. We also
enable organizations to easily modify and enhance applications and automatically disseminate these updates across device types to ensure
that all users benefit from the most up-to-date functionality.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Key benefits of our platform include:</p><div>

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    <td style="text-align: justify"><span style="font-size: 10pt"><b>Powerful applications to solve critical and complex challenges</b>.&#160;At the core of our platform is an advanced engine that enables the modeling, modification and management of complex processes and business rules. Our heritage provides us with this differentiated understanding of complex processes, and we have incorporated that expertise into our platform to enable the development of powerful applications. Organizations have used our platform to launch new business lines, build large procurement systems, manage retail store layouts, conduct predictive maintenance on field equipment and manage trading platforms, among a range of other use cases.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

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    <td style="text-align: justify"><span style="font-size: 10pt"><b>Rapid and simple innovation through our powerful platform</b>. Our platform employs a low-code, intuitive, visual interface and pre-built development modules that reduce the time required to build powerful and unique applications. Our platform automates the creation of forms, data flows, records, reports and other software elements that would otherwise need to be manually coded or configured. This functionality greatly reduces the iterative development process, allowing for real-time application optimization and ultimately shortening the time from idea to deployment. In turn, organizations can better leverage scarce and costly developer talent to accomplish more digital transformation objectives.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

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    <td style="width: 0.25in; text-align: justify">&#160;</td>
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    <td style="text-align: justify"><span style="font-size: 10pt"><b>Build once, deploy everywhere</b>. Our technology allows developers to build an application once and use it everywhere with the consistency of experience and optimal performance levels that users expect. Applications developed on our platform can be immediately and natively deployed across a full range of mobile and desktop devices with no additional customization, including desktop web browsers, tablets and mobile phones. We also enable organizations to easily modify and enhance applications and automatically disseminate these updates across device types to ensure all users benefit from the most up-to-date functionality.</span></td></tr>
  </table><div>
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    <td style="text-align: justify"><span style="font-size: 10pt"><b>Deployment flexibility to serve customer needs</b>. Our platform can be installed in any cloud or on-premises, with organizations able to access the same functionality and data sources in all cases. Our flexible deployment model also preserves a seamless path to future cloud deployments for organizations initially choosing on-premises for their most sensitive workloads.</span></td></tr>
  </table><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our approach to digital transformation goes beyond
simply enabling organizations to build custom applications fast. We empower decision makers to reimagine their products, services, processes
and customer interactions with software by removing much of the complexity and many of the challenges associated with traditional approaches
to software development. Because we make application development easy, organizations can build specific and competitively differentiated
functionality into applications to deliver enhanced user experiences and streamlined business operations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In February 2018, we released Magic xpa 3.3 with
a more seamless and easier integration with Java, similar to the already existing integration with .NET, making the Magic xpa platform
even more robust. Along with that, we provided a new WS provider mechanism, built on Apache Axis2, enhancing our current WCF based capabilities.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In April 2018, and for the third consecutive year,
Magic Software&#8217;s Magic xpa application development platform gained top market share in license sales in the Japanese market. According
to the &#8220;Market Research for Next Generation Extra-Rapid Development Tools in 2018&#8221; published by MIC Research Institute Ltd.,
the Magic xpa Application Platform grew 2% achieving a 41% share of the Japanese market.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In August 2018, we released Magic xpa 4.0 with
its new Angular-based Web application framework that provides developers and Angular developers with the power to develop device-agnostic
and feature-packed Web applications. Magic xpa 4.0 decouples the business logic from the presentation of the apps providing developers
with the flexibility to use the Angular open-source platform with industry-standard state-of-the-art technologies, including HTML5, CSS,
and JavaScript for designer-quality screens, while benefiting from the productivity, security, and scalability capabilities provided by
our low-code development platform.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, we further modernized our Integrated
Development Environment (IDE) by moving toward a full-fledged Visual Studio-based studio, offering our users an even more intuitive and
user-friendly experience.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During 2018, Magic xpa was listed in Gartner&#8217;s
Market Guide for Application Platforms report. In addition, Magic xpa was listed in the Forrester Wave&#8482; for Mobile Low-Code Development
Platforms.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In 2020, Magic Software significantly enhanced
its new Angular based web client capabilities, provided GIT version control capability as an integral part of expanding its CI/CD overall
capabilities, as well as enhanced compare and merge functionality under its xpa 4.7 release.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In 2022, we moved our Magic xpa platform to be
a cloud native platform deployed by dockers container, opening the door to our customer to take their applications to be a full SaaS products.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>AppBuilder Application Platform</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">AppBuilder, a platform we acquired in December
2011, is a proprietary development environment used for managing, maintaining and reusing complicated applications needed by large businesses.
AppBuilder provides the infrastructure for enterprises worldwide, across several industries, with applications running millions of transactions
daily on legacy systems. Enterprises using AppBuilder can build, deploy and maintain large-scale custom-built business applications for
years without being dependent on any particular technology. The AppBuilder deployment environments include IBM mainframe, Unix, Linux
and Windows. AppBuilder is intended to increase productivity and agility in the creation and deployment of enterprise class computing.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">AppBuilder follows the 4GL development paradigm
to help enterprises focus on the business needs and definition and overlook technical hurdles. AppBuilder developers define the business
roles and prior to deployment the code is generated from the development environment to the required run time environment. Several large
MSPs have utilized AppBuilder to build state of the art applications that are deployed through many large customers.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">AppBuilder implements a model driven architecture
approach to application development. It provides the ability to design an application at the business modeling level and generate forward
to an application. AppBuilder has a platform-independent, business-rules language that enables generation to multiple platforms. It is
possible to generate the client part of an application as Java and the server part as COBOL. As businesses change, the server part can
be generated as Java without changing the application logic. Only a simple configuration option needs to be changed.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">AppBuilder contains everything a development environment
needs to create any type of simple or complex business application with platform-independent functionality, including:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="width: 0.25in; text-align: justify">&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="width: 0.25in; text-align: justify">&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="width: 0.25in; text-align: justify">&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b><i>Magic xpi Integration Platform</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We believe data is the most valuable competitive
asset today as companies increasingly pursue digital transformation initiatives to modernize their businesses. Enormous amounts of data
are being generated by people, applications, and devices worldwide. Enterprises are seeking to connect data across their various applications,
systems, and IT environments in order to become data-driven businesses. Understanding and connecting these data assets as well as migrating
workloads to the cloud, enables superior insights across the business organization, better service of customers, automation of supply
chains, and the democratization of secure, governed data access for all employees.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The rise of cloud computing, low cost data storage
and the proliferation of applications that generate and access data, combined with the increasing volume of data from mobile, social and
IoT, is resulting in an explosion of the volume, variety, and velocity of data. According to a March 2021 report from IDC, &#8220;The
amount of digital data created over the next five years will be greater than twice the amount of data created since the advent of digital
storage.&#8221; This new data creates opportunities to generate greater business insights and pursue new market opportunities, but is
overwhelming for organizations to manage, aggregate, and normalize. As enterprises undertake the massive transition to cloud, we believe
a majority of their workloads will remain on-premises for the foreseeable future due to the mission-critical processes they support. The
complexity of this hybrid world will be further exacerbated as enterprises also employ multi-cloud strategies. According to IDC, &#8220;82%
of organizations are currently using multiple clouds - or plan to within the next 12 months.&#8221; As a result, we expect enterprises
will require new technologies purpose-built to connect, analyze, manage, and normalize data anywhere it resides using modern, cloud-native
architectures that can seamlessly be deployed in any IT environment.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our Magic xpi integration platform (an evolution
of our original and formerly branded iBOLT platform, launched in 2003) is a graphical, wizard-based code-free solution delivering fast
and simple integration and orchestration of business processes and applications. Magic xpi allows businesses to more easily view, access,
and leverage their mission-critical information, delivering true enterprise application integration, or EAI, business process management,
or BPM, and SOA infrastructure. Increasing the usability and life span of existing legacy and other IT systems, Magic xpi allows fast
EAI, development and customization of diverse applications, systems and databases, assuring rapid return on invested capital and time-to-market,
increased profitability and customer satisfaction.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Magic xpi allows the integration and interoperability
of diverse solutions, including legacy applications, in a quick and efficient manner. In January 2010, we released Magic xpi 3.2 and since
then we have continued to develop the Magic xpi channel. We entered into agreements with additional system integrators, consultancies
and service providers, who acquired Magic xpi skills and offer Magic xpi licenses and related services to their customers. We also offer
special editions of Magic xpi with optimized and certified connectors for specific enterprise application vendor ecosystems, such as SAP,
Oracle JD Edwards, Microsoft SharePoint and Salesforce.com. These special editions contain specific features and pricing tailored for
these market sectors.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Data engineers, Extract-Transform-Load (ETL) developers,
and citizen integrators have the ability to use our platform to ingest, transform and integrate data spanning departmental to enterprise
scale workloads. These workloads include diverse and distributed data sources in multi-cloud, hybrid environments. The breadth and depth
of our data integration capabilities accelerate the aggregation and processing of data to ready it for analytics, data science and enterprise
reporting initiatives. Leveraging a simple graphical design experience, users can develop workloads across ETL, Extract-Load-Transform
(ELT), real-time and streaming data integration patterns. Our platform is designed to integrate structured and unstructured data across
on-premises and cloud-native applications, databases, business intelligence tools, data modeling tools, data lakes, data warehouses, mainframes,
messaging systems, file systems and IoT devices. Our data-lake architecture allows data stewards and business analysts to create an authoritative
single-source view of all business-critical data from internal and external sources across multiple data domains, including customers,
locations, assets, and employees and many other domain types.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our heritage as a veteran player in the integration
market provides us with a differentiated understanding and ability to automate complex processes, and we have incorporated that expertise
into our platform to enable the development of powerful business software. Magic xpi can leverage a complete stack of automation technologies,
applying the right automation approach for each specific use case.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Key benefits of our platform include:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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  <tr style="vertical-align: top">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
  <tr style="vertical-align: top">
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    <td style="text-align: justify"><span style="font-size: 10pt"><b>Deliver rich 360-degree business experiences.</b> By enabling our customers to aggregate, consolidate and normalize their data to build a single source of truth, we empower them to deliver highly engaging and personalized customer experiences. This allows our customers to embrace a digital-first business strategy, build better connections and relationships with their end users, and modernize their supply chains by intelligently matching supply with demand patterns.</span></td></tr>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the aggregate, these core capabilities enable
Magic to automate and govern end-to-end processes. Magic complements these automation technologies with related features like process
reporting, analytics and management, which make it simple for organizations to quickly improve and upgrade their automations as business
needs change.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In March 2018, we released Magic xpi version 4.7
with a new OData Provider connector, Active Directory Federation Services (ADFS) support for the SharePoint Online (MOSS) connector, ability
to write new connectors based on Magic xpa Application Platform&#8217;s runtime technology and multiple features to improve programming
productivity, such as visual indicators of data flow status and an enhanced monitor to provide an even more accurate bird&#8217;s eye
view of all running projects.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In October 2018, we announced that Magic xpi Integration
Platform 4 achieved SAP-certified integration with SAP S/4HANA, enabling our customers to optimize business processes through automation
across leading ERP, CRM, finance, and other enterprise systems using a single platform.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In February 2019, we released Magic xpi version
4.9 with a new REST client connector, ODATA connector enhancements, inherent UPSERT support in the data mapper, and built-in cloud support.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In August 2019, we released Magic xpi version
4.11, enabling access to remote connectors residing at another site, without the need for a VPN (aka &#8216;Local Agent&#8217; capability).
In addition, in the beginning of 2020 we released the major released Magic xpi 4.12, which includes 64-bit support for our Run-Time engine
as-well as integration with one of the industry&#8217;s API management solutions suites. During 2019, we also released additional features
pursuant to customer requests.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In 2020, Magic Software enhanced the above Local
Agent capability with more functionality, added additional connectors (e.g., OPC for manufacturing) and invested more resources in the
overall product stability. In addition, Magic Software has added various features to the platform to expand its product offering, per
customer requests.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In 2021, we enhanced Magic xpi Local Agent capabilities
with more functionalities, added additional connectors (e.g., OPC for manufacturing) and invested more resources in the overall product
stability. In addition, we moved our Magic xpi platform to be a cloud native platform deployed by dockers container.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In March 2023 we launched Magic xpi Cloud Native,
allowing shifting xpi integration projects to the cloud smoothly. The xpi Cloud Native environment configurations based on Kubernetes,
focuses on scalability, security, and resilience. The deployment process is made effortless with our new &#8220;Cloud Manager&#8221;. Cloud
Manager interface hides all the complexities of cloud deployment and clustering and performs all the heavy lifting through easy to use
and intuitive set of Rest API&#8217;s. These APIs also bring agility and efficiency to organizations CI/CD practices via &#8220;Continuous
Deployment&#8221; capabilities.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In 2023, we plan to continue to expand our product
offering with additional features, per customer requests.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Magic SmartUX</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Magic SmartUX, a platform we acquired in April
2019, is a low-code development platform for mobilizing and modernizing enterprise business application designed for citizen to professional
developers to rapidly design, build, analyze, and run cross-platform mobile business applications.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Magic SmartUX platform addresses the three
biggest challenges enterprises are facing in the road to Digital Transformation:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="text-align: justify"><span style="font-size: 10pt">Many Systems of Record: over the years enterprise adopted (home grown and third party) solutions that scattered the business flow over many different system, Magic SmartUX enable the enterprise to expose complex business flows to modern technology with now changes and overhead to the existing working applications.</span></td></tr>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>FactoryEye</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 2019, Magic Software launched the release
of FactoryEye, a proprietary high performance, low-code, flexible, cloud platform built specially for manufacturers based on a modern
architecture enabling advanced manufacturing and organizational intelligence, real-time virtualizations and actionable insights for cross-
organizational effectiveness and increased bottom line. Magic Software has hundreds of manufacturing customers, and drew on over 35 years
of manufacturing experience to develop FactoryEye. The product&#8217;s intuitive and user-friendly workspace empower manufacturers by
providing all the analysis the report they need in order to make faster and smarter decisions based on real time data and analytics. This
translates into improved productivity, faster delivery times, and better control over the manufacturing processes, leading to increased
customer satisfaction and higher profit margins. FactoryEye offers dozens of prebuilt connectors to a range of enterprise applications
and MRP systems, such as SAP, JD Edwards, and Infor, as well as MES, CRM, and PLM systems.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">FactoryEye collects real-time data from existing
machinery, operational and organizational systems and transforms it into actionable intelligence for immediate results and continuous
improvement in the manufacturing process and operational efficiency. The solution brings the benefits of Industry 4.0 connectivity to
mid-sized manufacturers in several industry verticals, including automotive parts, food &amp; beverage, medical devices, metal processing,
packaging, plastics &amp; rubber specialty manufacturing and more.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The addition of FactoryEye to Magic Software&#8217;s
software portfolio allows Magic Software to provide to its new and existing manufacturing clients, with a comprehensive Industry 4.0 digital
transformation solution and aligns with Magic Software strategy of enhancing its portfolio with enterprise grade technologies.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">FactoryEye&#8217;s end-to-end solution incorporates
several key features:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="width: 0.25in; text-align: justify">&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="width: 0.25in; text-align: justify">&#160;</td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
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    <td style="text-align: justify"><span style="font-size: 10pt">Increased equipment productivity and operational efficiency&#160;</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="width: 0.25in; text-align: justify">&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="width: 0.25in; text-align: justify">&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition to offering a dynamic cloud-based
software solution, FactoryEye manufacturing consultants work with customers to harmonize their systems and fit the right tools for their
needs. Consultants analyze business processes for what is working, formulate a plan to add what is missing from existing systems and create
sprints to deliver immediate results. A dynamic cycle of data collection and analysis allows for continuous improvement and flexibility
in the optimization process.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Since its launch, Magic Software made a targeted
effort to reach mid-sized manufacturers who are looking to improve the efficiency of their factories. Our goal is to position FactoryEye
as a solution that offers more than mere factory floor visibility through IIoT connectivity, while remaining more cost effective and customizable
than offerings from &#8220;Tier 1&#8221; companies. To that end, Magic Software has built a new website for FactoryEye, as well as blogs,
whitepapers, e-books, public relations activities, exhibitions and events, round tables and on-line campaigns, all in the purpose of spreading
the awareness of this new offering and benefits for mid-sized manufacturers.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">FactoryEye brings the benefits of Industry 4.0
to mid-sized manufacturing companies, with an easy, affordable, and flexible approach that does not require changing existing systems
and infrastructure. This Industry 4.0 solution captures vast amounts of production data, transforms it into actionable intelligence, and
empowers workers, managers, and executives to make informed decisions in real-time.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, we continue to market Magic Software&#8217;s
application and integration products. These products continue to provide value and convenience for our customers as low code options to
integrate their disparate systems.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Vertical software solutions</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Clicks&#8482;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our Roshtov subsidiary has approximately three
decades of proven experience based on its proprietary comprehensive core software solution for medical record information management systems,
using in the design and management of patient-file for managed care and large-scale healthcare providers. The platform, which can be tailor-made
to the specific needs of the healthcare provider, is connected to the clinical, administrative and financial data base system, residing
at the provider&#8217;s central computer, and allows immediate analysis of complex data with potentially real-time feedback to meet the
specific needs of physicians, nurses, laboratory technicians, pharmacists, front- and back-office professionals and consumers.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All of our clients that buy or subscribe to our
Clicks software solution also enter into software support agreements with us for maintenance and support of their medical record management
systems. In addition to immediate software support in the event of problems, these agreements allow clients to access new releases covered
by support agreements. In addition, each client has 12-hour access, six days a week (6 hours on Friday) to the applicable call-center
support teams.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We employ a team of 35 research and development
specialists that together with our clients create a future where the health care system works to improve the well-being of individuals
and communities. Roshtov&#8217;s proven ability to innovate has led to what we believe to be an industry leading architectures and a breadth
and depth of solutions and services.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There are four healthcare service providers in
Israel, of which, Maccabi Healthcare Services and Clalit, which are the two largest healthcare providers in Israel accounting for 78%
of the Israeli market, have been our customers since the early 1990&#8217;s.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Leap&#8482;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our FTS subsidiary has over 20 years of BSS experience,
based on dozens of projects delivered to customers worldwide. We implement revenue management and monetization solutions in mobile, wireline,
broadband, MVNO/E, payments, e-commerce, M2M / Internet of Things, mobile money, cable, cloud and content markets under the brand name
of Leap&#8482;. Our Leap&#8482; solutions lower the total cost of ownership (TCO) for telecom, content and payment service providers.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">FTS works with telecommunications, content and
payment service providers globally to help them manage complex transactions and relationships with greater flexibility and independence.
Analyzing transactions from a business standpoint, FTS offers end-to-end and add-on telecom billing, charging, policy control and payments
solutions to customers worldwide, and services both growing and major providers.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">FTS targets mid to lower level tier service providers,
supporting their BSS needs with end-to-end, turnkey billing and other BSS projects. In addition, FTS offers upper-tiers of service providers
with BSS and monetization solutions for specific needs, including policy control and charging solutions, M2M billing, billing for content
services, MVNE/MVNO billing, mobile money software solutions, payment and mobile financial services solutions and others.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our Leap&#8482; offering is comprised of:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Leap&#8482; BCCF (Business Control and Charging
Function) &#8211; a proprietary packaged software solution which serves as the underlying foundation of our Leap&#8482; products and solutions.
Leap BCCF enables service providers to handle the aspects of event processing, from defining the system&#8217;s business logic, through
importing events and formatting, to charging and executing business rules. With Leap BCCF, new services are deployed on the fly, and strategic
business rules are formulated more easily, ensuring real-time responses to both service and customer-related events and providing a baseline
for policy control.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Leap&#8482; Billing 6.3 &#8211; a convergent charging,
billing and customer care solution that realizes substantial reductions in OPEX and CAPEX while increasing customer satisfaction and retention.
Leap Billing software&#8217;s flexibility and ease of use enables the service providers&#8217; billing platform to work more at the speed
of marketing by offering new marketing plans or services in a rapid time-to-market.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Leap&#8482; Policy Control <b>- </b>Leap Policy
Control is an integrated charging and policy control solution (a full PCC solution based on PCRF &amp; online/offline charging). Compliant
with the 3GPP&#8217;s Diameter policy control standard, Leap Policy Control provides traffic and subscriber management strategies. Leap
Policy Control gives operators the power to monitor usage in real time and, using fully configurable business rules, define how they manage
network resources, applications, and subscribers &#8211; in real time &#8211; while generating revenue from personalized mobile applications,
content and services. Leap Policy Control can be implemented as a stand-alone solution or as part of a larger BSS project implementation.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">FTS Express&#8482; <b>- </b>FTS express&#8482;
is an all-in-one software appliance for online charging, billing, AAA, balance management, customer care, policy control and interconnect,
designed for entry-level operations of MVNOs, LTE, VoIP, ISP, broadband, IPTV and more.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following is a sample of the monetization
solutions offered by FTS:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">End-to-end, turnkey billing and customer care solutions;</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Convergent, online charging and billing;</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Policy control and charging;</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
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    <td style="text-align: justify"><span style="font-size: 10pt">Billing for content;</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Interconnect billing;</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">M2M / IoT billing;</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
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    <td style="text-align: justify"><span style="font-size: 10pt">Broadband and multi-play billing;</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Mobile money solutions;</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">E-commerce and M-commerce solutions;</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Payments and mobile payments solutions;</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Smart revenue sharing and partner management solutions; and</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Billing service bureau.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">FTS&#8217;s solutions are delivered via cloud,
on-premises or in a fully managed-services mode and are backed by our Israel and Bulgaria-based experienced professional services support
team.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><div>

</div><!-- Field: Page; Sequence: 50; Value: 1 --><div>
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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>HR Pulse</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Now in its 10<sup>th</sup> release, HR Pulse is
a proprietary platform that creates and customizes software applications for HCM, with the goal to combine technology with effective processes,
to facilitate the collection, analysis and interpretation of quality data about people, their jobs and their performance, to enhance HCM
decision making, resulting in increased organizational efficiency and effectiveness. HR Pulse addresses four distinct functional areas
with the ability to also work as one consolidated system:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Performance and goal management:</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Development management;</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Talent management and succession planning; and</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Compensation and merit review.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our offering includes customizable &#8220;out
of the box&#8221; HCM SaaS Solutions, such as Pilat Frist and Pilat Professional, that provides a menu of templates that can be used to
affordably and expeditiously create customized HCM solutions for companies. The HR Pulse platform promotes the building and implementation
of solutions that address broader business challenges as well. Such offerings include 360-degree feedback, employee surveys, leadership
and management development, coaching and job evaluation.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Hermes Cargo</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Hermes has been developing and evolving cargo
management systems for the air cargo industry since 2002. Hermes Air Cargo Management System is a proprietary, state-of-the-art, packaged
software solution for managing air cargo ground handling. Our Hermes Solution covers all aspects of cargo handling, from physical handling
and cargo documentation through customs, seamless EDI communications, dangerous goods and special handling, tracking and tracing, security
and billing. Over the last 10 years Hermes systems have been implemented in over 70 terminals on five continents, providing efficient
and accurate handling of more than 5 million tons of freight annually. Customers benefit through faster processing and more accurate billing,
reporting and ultimately enhanced revenue. Customers include independent ground handlers, airlines with a cargo arm, hubs belonging to
an individual airline or those catering to a number of airlines transiting cargo to additional destinations. The Hermes Solution is delivered
on a licensed or fully hosted basis.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Hermes systems are built with the specific needs
of air cargo handlers and airlines in mind and are amongst the most versatile and sophisticated around. Hermes Solutions are focused on
maximizing customer profits by streamlining ground handling processes and employing built-in best practices to reduce handling errors.
Hermes team of cargo experts carry out a full business analysis, listen to our customers&#8217; requirements, suggest additional functionality
and work with them to deliver an air cargo management solution that is streamlined around their processes and customized to their needs.
Hermes works with everyone from smaller cargo handlers to large airlines all over the world and counts Menzies Aviation, WFS (FRA), Luxair,
Etihad Airport Services and Frankfurt Cargo Services among their customers.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Nativ: </i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Offered by our Menarva Ltd subsidiary, Nativ is
the leading system for efficient management of all types of rehabilitation centers. Selected by many of the largest rehabilitation and
treatment centers in Israel, Nativ serves as a comprehensive solution, the largest and most specialized and equipped system in Israel,
with all the capabilities required for operating all aspects of organizations engaged in patient rehabilitation and treatment. From rehabilitation
programs to recruitment, Nativ enables control of all levels of rehabilitation bodies, including monitoring detailed rehabilitation plans,
finance, collection, account management, recruitment, working hours, asset management, employment and medical files.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, Nativ also contains many integral
interfaces, including the Israel&#8217;s Ministry of Health&#8217;s suppliers portal, Israel&#8217;s Ministry of Welfare&#8217;s suppliers
portal, rent transfers from the Israel&#8217;s Ministry of Housing, accounting systems, payroll systems and more. The system produces
a wide range of reports, including a receipt report from Israel&#8217;s Ministry of Health, Welfare, Economy and Security, comprehensive
and detailed information divided into units and services, a detailed living allowance report, patient report, condition report, emergency
report and more.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Menarva has extensive experience gained in its
work over the past 10 years with dozens of clients in Israel, an experience that has given rise to in-depth insights into the field of
rehabilitation. Nativ is supported by the cloud and allows connection at any time and from any place for maximum efficiency, including
a mobile application for continuous monitoring of field personnel in real time.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Nativ offers maximum survivability, due to the
need for high reliability and comprehensive information security, all infrastructure is owned by Menarva and the system complies with
all standards and guidelines of Israel&#8217;s Privacy Protection Authority, including ISO standards: Standard 9001 for information systems
development, Standard 27001.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Strategy </i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our goal is to continue our profitable and cash
generative growth within our software solutions and professional services markets. We plan to achieve this goal by focusing on the following
principles:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt"><b>Expand sales to existing customers. </b>We have a strong track-record of expanding within our existing customers. We believe there are significant cross-sell and upsell opportunities within our existing customer base by adding new products, addressing new areas of expertise, and growing with our customers&#8217; overall business footprint. We intend to capitalize on the opportunity to more effectively cross-sell solutions and services across our existing customer base. In addition to selling complementary software solutions to customers that already use our development application solutions or packaged software solutions, we believe our strong customer, MSP and partner relationships and execution track record position us to successfully grow our revenues by delivering complementary development and integration tools from our product offering to our existing IT services customers and by delivering IT services to our existing application development customer base.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt"><b>Capitalize on opportunities created by new technological trends.</b> We believe that emerging industry trends such as mobile applications, cloud applications, SaaS and big data will require our enterprise customers and partners to continue and upgrade existing systems and to integrate their current infrastructure with new mobile and cloud applications or with new big data management solutions. We intend to market the capabilities of our software solutions and professional services offerings to customers that are currently impacted or will potentially be impacted by the increased complexity resulting from these trends. For instance, we intend to promote Magic xpa through Rich Internet Applications (RIAs).</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt"><b>Grow our customer base through new offerings.</b> We plan to grow our business by attracting new ISV enterprise customers with new technology offerings and new professional services through our already established expertise in the areas of mobile technologies and projects, cloud applications, SaaS and Big Data solutions, and integration solutions. Due to our track record in these industry segments, we believe we are well positioned to develop and offer new application development and integration solutions that will enable us to attract new customers. In addition, we believe our familiarity with these verticals will allow us to differentiate our IT services offering and grow our market share in this vertical as well.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt"><b>Provide new solutions to new ecosystems.</b> We expect the same industry trends of mobile, cloud, SaaS and big data to lead to the creation of additional enterprise applications ecosystems. We intend to continue to develop new solutions that will allow us to form new partnerships, which in turn will grow our revenues. We also intend to focus on recruiting OEM partners that will incorporate our Magic xpi integration technology into their product offerings.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt"><b>Acquire complementary businesses. </b>As part of our growth strategy, we will continue to seek and evaluate opportunities to grow through acquisitions of companies and operations with complementary software solutions, technologies and related intellectual property, packaged software solutions, augmenting integration and services capabilities, additional distribution channels or market share. We have a strict acquisition policy pursuant to which we only pursue acquisitions in cases we identify as having a clear business opportunity and a clear path to revenue growth. In addition, we only pursue acquisitions which we believe entail low integration and operational risk as a result of our internal familiarity with the target or the industry in which it operates, through our network of MSPs, system integrators, distributors, resellers, and consulting and OEM partners. We intend to balance any investments in such acquisitions with investments in our existing business and our policy of returning value to shareholders in the form of dividends.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our partner strategy is focused on delivering
complete end-to-end solutions for our customers, driving general awareness of our platforms and service capabilities and broadening our
distribution and reach to new customers. We have deep relationships with global system integrators, which we partner closely with. We
co-create and co-sell solutions to solve customer needs where we combine the power of our innovation and their services to deliver against
the customer business objectives. We have a scaled and well-defined alliances program where we partner with value-added resellers and
distributors across the world to expand our reach in international markets. Our relationship with these channel partners ranges from fulfilment
services to co-sell or independent resell in some markets.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Product Development </i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We place considerable emphasis on research and
development in order to improve and expand the functionality of our technologies and to develop new applications. We believe that our
future success depends upon our ability to maintain our technological leadership, to enhance our existing products and to introduce new
commercially viable products addressing the needs of our customers on a timely basis. We also intend to support emerging technologies
as they are introduced in the same way we have supported new technologies in the past. We will continue to devote a significant portion
of our resources to research and development. We believe that internal development of our technology is the most effective means of achieving
our strategic objective of providing an extensive, integrated and feature-rich development technology. For significant version release
see &#8220;Magic&#8217;s Software Solutions&#8221; discussed above.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Product Related Services </i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Professional Services</i>.</b> We offer
fee-based consulting services in connection with installation assurance, application audits and performance enhancement, application migration
and application prototyping and design. Consulting services are aimed at generating both additional revenues and ensuring successful implementation
of Magic xpa, Appbuilder, Magic xpi, Magic&#8217;s Data Management and Analytics platform, SmartUX and FactoryEye projects through knowledge
transfer. As part of management efforts to focus on license sales, our goal is to provide such activities as a complementary service to
our customers and partners. We believe that the availability of effective consulting services is an important factor in achieving widespread
market acceptance.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Services are offered as separately purchased add-on
packages or as part of an overall software development and deployment technology framework. Over the last several years, we have built
upon our established global presence to form business alliances with our MSPs that use our technology to develop solutions for their customers,
and distributors to deliver successful solutions in focused market sectors.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Maintenance</i></b><i>. </i>We offer our
customers annual maintenance contracts providing for unspecified upgrades and new versions and enhancements for our products on a when-and-if-available
basis for an annual fee.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Customer Support</i></b><i>.</i> We believe
that a high level of customer support is important to the successful marketing and sale of our products. Our in-house technical support
group provides training and post-sale support. We believe that effective technical support during product evaluation as well as after
the sale has substantially contributed to product acceptance and customer satisfaction and will continue to do so in the future.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We offer online support systems for our MSPs and
end users, providing them with the ability to instantaneously enter, confirm and track support requests through the Internet. These systems
support MSPs and end-users worldwide. As part of this online support, we offer Support Knowledge Base tools providing the full range of
technical notes and other documentation including technical papers, product information, and answers to most common customer queries and
known issues that have already been reported.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Training</i></b><i>. </i>We conduct formal
and organized training on our development tools and packaged software solutions. We develop courses, pertaining to our principal products
and provide trainer and student guidebooks. Course materials are available both in traditional, classroom courses and as web-based training
modules, which can be downloaded and studied at the student&#8217;s own pace and location. The courses and course materials are designed
to accelerate the learning process, using an intensive technical curriculum in an atmosphere conducive to productive training.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span style="text-decoration:underline">IT Services</span></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Background</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The core of our growth strategy is to serve as
a one-stop-shop for our clients, helping them accelerate their digital transformation to enhance competitiveness, grow profitability and
deliver sustainable stakeholder value. We use our deep industry and functional expertise to help clients capture more growth and solve
a diverse set of business challenges, including identifying and developing new products and services; improving sales and customer experience;
optimizing cost structures; maximizing human performance; harnessing data to improve decision-making; mitigating risk and enhancing security;
shaping and delivering value from large-scale cloud migrations; and digitizing manufacturing and operations with smart, connected products
and platforms.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Technology is the single biggest driver of change
in companies today. Despite the potential impacts of the Omicron variant, we expect an economic recovery with high expectations for increased
technology investments. Gartner forecasts global IT spending in insurance will increase by 7.8% in 2023 to reach $207.7 billion in constant
U.S. dollars. From 2021 to 2026, the spend is forecast to grow at a CAGR of 8.1%, driven by the growth in IT services and software at
a CAGR of 9.7% and 12.4%, respectively.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We help our clients use technology to build their
digital core to drive enterprise-wide transformation&#8212;such as moving them to the cloud, leveraging data and artificial intelligence,
and embedding security and sustainability across the enterprise; by transforming their operations; and by accelerating their revenue growth.
We leverage our scale and global footprint, innovation capabilities, and strong ecosystem partnerships, together with our platforms including
to consistently deliver tangible value for our clients.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our IT services offerings consist of a variety
of professional services that can be grouped into integration and other IT services. Our integration services include:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

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  <tr style="vertical-align: top">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are a talent- and innovation-led organization
with approximately 4,161 people as of December 31, 2022, who serve our clients at any given time and whose skills and specialization are
a significant source of competitive differentiation. With approximately 3,409 experts, the majority of which are in the U.S, Israel and
Europe, and hundreds of projects gone live in a variety of advanced technologies, we have developed significant expertise and accumulated
vast experience in integration projects. Such projects are typically more complex and require a high level of industry knowledge and highly
skilled professionals. Our integration expertise, as well as our global reach allows us to deliver comprehensive, value added services
to our customers. Our IT services customers include major global telecoms, OEMs and engineering, furnish and installation service companies.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Strategic Consulting and Outsourcing Services</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We provide a broad range of IT consulting services
in the areas of infrastructure design and delivery, application development, technology planning and implementation services, cloud computing,
as well as supplemental outsourcing services. Our wholly-owned subsidiaries, Fusion Solutions LLC, Xsell Resources Inc., Allstates Consulting
Services LLC, Futurewave Systems, Inc., NetEffects, Inc, OnTarget Group, Inc, the Commit Group, Infinigy Solutions LLC., EnableIT LLC,
Comblack Ltd. and Shavit Software (2009) Ltd. provide advanced IT consulting and outsourcing services to a wide variety of companies including
Fortune 1000 companies. Our technical personnel generally supplement the in-house capabilities of our customers. Our approach is to make
available a broad range of technical personnel to meet the requirements of our customers rather than focusing on specific specialized
areas. We have extensive knowledge of and have worked with virtually all types of wireless and wireline telecom infrastructure technologies
as well as in the areas of infrastructure design and delivery, application development, project management, technology planning and implementation
services. Our consulting partners come from a wide range of industries, including finance, insurance, government, health care, logistics,
manufacturing, media, retail and telecommunications. With an experienced team of recruiters in the telecom and IT areas and with a substantial
and a growing database of telecom talent, we can rapidly respond to a wide range of requirements with well qualified candidates. Our customer
list includes major global telecoms, OEMs and engineering, furnish and installation service companies. We have built long-term relationships
with our customers by providing expert telecom talent. We provide individual consultants for contract and contract-to-hire assignments
as well as candidates for full time placement. In addition, we configure teams of technical consultants for assigned projects at our customers&#8217;
sites.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We market and sell our products and services in
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

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    <td style="text-align: left">&#160;</td><td style="text-align: right">11,443</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">10,121</td><td style="text-align: left">&#160;</td></tr>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">371,194</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our Magic xpa, Magic xpi, Magic&#8217;s Data Management
and Analytics platform, Magic SmartUX, Magic FactoryEye, and AppBuilder technologies are used by a wide variety of developers, integrators
and solution providers, that can generally be divided into two sectors (i) those performing in-house development (corporate IT departments),
and (ii) MSPs, including large system integrators and smaller independent developers, and VARs that use our technology to develop or provide
solutions to their customers. MSPs who are packaged software publishers use our technology to write standard packaged software products
that are sold to multiple customers, typically within a vertical industry sector or a horizontal business function.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><div>

</div><!-- Field: Page; Sequence: 55; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->47<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Among the thousands of customers running their
business systems with our technology are the following:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
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    <td style="width: 1%">&#160;</td>
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  <tr style="vertical-align: top">
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  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">ADD</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">GE Capital</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">QboCel Mexico</span></td></tr>
  <tr style="vertical-align: top">
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    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">GGD Amsterdam</span></td>
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  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Adecco Nederland</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Grange Company</span></td>
    <td>&#160;</td>
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  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Agricultural Bank of China</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Groupe Flo</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Sennheiser</span></td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Allstate Life Insurance</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Grupo Inversionistas en Autotransportes Mexicanos</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Sony DADC</span></td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">ATLAS Grupo Financiero</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Guardian Life Insurance</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Staff Development Management Systems (SDMS Ltd) </span></td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Seguros y Fianzas</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Hebrew University of Jerusalem</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">SECOM Trust Systems</span></td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Auchan</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Hitachi Systems</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Sodiaal</span></td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">AutoScout24</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">IDF</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Stallergenes</span></td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Axesor Powers</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">ING Commercial Finance BV</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">State of Washington Courts</span></td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Bank Leumi</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">ISS</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Sterling Crane</span></td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">BNP Paribas</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Japan Chamber of Commerce</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Sun Life Insurance</span></td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Boston Medical Center</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Korea Development Bank (KDB)</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Synbra Holding BV</span></td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">CBIA</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Lekkerland Nederland BV</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Telenet Belgium</span></td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">&#199;elebi Ground Handling Inc.</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Lloyds Bank</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">TelOne Zimbabwe</span></td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Centric</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">L&#8217;Occitane</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">The Himalaya Drug Company</span></td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Christie Digital</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Loxam</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">TOA</span></td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Club Med</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">MatrixCare</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">TOTO</span></td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Coca Cola</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Mahindra &amp; Mahindra</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">UPS</span></td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Crane &amp; Co.</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Moose Toys</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Valeo services</span></td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Datenlotsen</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Morgan Advanced Materials</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Veolia Waters</span></td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Eco-Emballages</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Mundipharma</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Viparis</span></td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Electra</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Nagarjuna Fertilizers &amp; Chemicals Ltd.</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Vishay Intertechnology</span></td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Export-Import Bank of Thailand</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Nespresso</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Vodafone Iceland</span></td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Ekro</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">NextiraOne</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Volvo Brazil</span></td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Euroclear</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">NHS Trust</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">WellMark</span></td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Farm Mutual Reinsurance Plan</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Nihon UNISYS</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Worldwide Flight Services (WFS)</span></td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Finanz Informatik</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Nintendo</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">ZF Lemforder</span></td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Fiskars</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Orangina Schweppes</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt">&#160;</td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Franken Brunnen</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Pacific Steel &amp; Recycling</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt">&#160;</td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Fujitsu Marketing</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Parrot</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt">&#160;</td></tr>
  <tr style="vertical-align: top">
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Fujitsu-Ten</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Petzl</span></td>
    <td>&#160;</td>
    <td style="padding-left: 9pt; text-indent: -9pt">&#160;</td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Sales, Marketing and Distribution</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We market, sell and support our products through
our own global offices and marketing department, as well as through a broad global channel-network of MSPs, system integrators, value-added
distributors and resellers, and OEM and consulting partners. Our sales force is based in our regional offices in the United States, Japan,
Germany, United Kingdom, Netherlands, France, Hungary, South Africa, India and Israel, and through regional distributors elsewhere. Our
sales network is present in about 50 countries worldwide.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Direct Sales</i></b><i>. </i>For Magic xpa
and AppBuilder, our direct sales force pursues software solution providers and enterprise accounts. Our sales personnel carry out strategic
sales with a direct approach to decision makers, managing a constantly monitored consultative type of sales cycle. Magic xpi, FactoryEye
and Magic&#8217;s Data Management and Analytics platform are mostly sold through indirect channels and through our ecosystem business
relationships, but we have some direct customers with integration needs.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2022, we employed approximately
231 sales and marketing personnel including, a team of sales engineers who provide pre-sale technical support, presentations and demonstrations
in order to support our sales force.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><div>

</div><!-- Field: Page; Sequence: 56; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->48<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Indirect Sales</i></b><i>. </i>We maintain
an indirect sales channel, through our ecosystem business relationships, as well as through system integrators, value added distributors
and resellers, OEM partners, as well as consultancies and service providers. We maintain an indirect sales channel for Magic xpa through
MSPs and system integrators, who use our application and integration platforms to develop and deploy different applications for sale to
their end-user customers.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Distributors</i></b><i>. </i>In general,
we distribute our products through regional non-exclusive distributors in those countries where we do not have a sales office. A regional
distributor is typically a software marketing organization with the capability to add value with consulting, training and support. Distributors
that are also MSPs are generally responsible for the implementation of both our application platform and business and process integration
suite and localization into their native languages. The distributors also translate our marketing literature and technical documentation.
Distributors must undergo our program of sales and technical training. Marketing, sales, training, consulting, product and customer support
are provided by the local distributor. We are available for backup support for the distributor and for end-users. In coordination with
the local subsidiaries and distributors, we also provide sales support for large and multinational accounts.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>VARs</i></b><i>. </i>In general, we resell
our products through VARs that extend their capabilities with our offerings. These include SAP VARs.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Global Marketing Activities</i></b><i>.
</i>We carry out a wide range of marketing activities aimed at generating awareness of our solutions offerings and to promote sales. Among
our activities, we focus both on both outbound and inbound marketing, including a content-rich website available in eight foreign languages,
social networks communication, search engine optimization, on-line advertising, lead generation campaigns, public relations, case studies,
blogs, industry analyst relations, attendance at conferences and trade shows and lead generation campaigns around key professional white
papers and webinars. We conduct distributor and user conferences to update our worldwide affiliates and user base on our new product offerings,
marketing and promotional activities, pricing, best practices, technical information and other information.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We use the Salesforce.com CRM platform and the
Hubsopt marketing automation tool globally to connect all our lead generation campaigns with our sales pipeline management. We have aligned
all our local offices to work according to the same global sales and marketing processes. We have also used our own Magic xpi Integration
Platform to automate processes between our Salesforce and SAP systems to increase efficiency.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our sales cycle varies by size of the customer,
the number of products purchased and the complexity of the customer&#8217;s infrastructure, ranging from several weeks for incremental
sales to existing customers to several months for large deployments.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Competition</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The markets for our Enterprise Mobility Solution,
and Magic xpa and Magic xpi platforms are characterized by rapidly changing technology, evolving industry standards, frequent new product
introductions, mergers and acquisitions, and rapidly changing customer requirements. These markets are therefore highly competitive, and
we expect competition to continue to intensify. The growth of the cloud adoption and mobile markets increases the competition in these
areas. We constantly follow and analyze the market trends and our competitors in order to effectively compete in these markets and avoid
losing market share to our direct competitors and other players.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">With Magic xpa, we compete in the low-code application
platform, SOA architecture and enterprise mobility markets. Our main competitors fall into two categories: (1) providers of custom software
and customer software solutions that address, or are developed to address, some of the use cases that can be addressed by applications
developed on our platform; and (2) providers of low-code development platforms, such as Microsoft, Salesforce.com, ServiceNow, OutSystems,
Appien and Mendix.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As our market grows, we expect it will attract
more highly specialized vendors as well as larger vendors that may continue to acquire or bundle their products more effectively. The
principal competitive factors in our market include:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in">&#160;</td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in">&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><div>

</div><!-- Field: Page; Sequence: 57; Value: 1 --><div>
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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in">&#160;</td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in">&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in">&#160;</td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in">&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">With Magic xpi, we compete in the integration
platform market, which is highly competitive and rapidly evolving. Among our current competitors are IBM, Informatica, TIBCO, MuleSoft,
Jitterbit, Talend, Dell&#8211;Boomi, Scribe and Software AG.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There are several similar products in the market
utilizing the model driven architecture, or MDA, approach utilized by AppBuilder. The market for this type of platform is highly competitive.
Companies such as CA and IBM have tools that compete directly with AppBuilder. Furthermore, new development paradigms have become very
popular in IT software development and developers today have many alternatives.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As our market grows, we expect that it will attract
more highly specialized vendors as well as larger vendors that may continue to acquire or bundle their products more effectively. The
principal competitive factors in our market include:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
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    <td style="text-align: justify"><span style="font-size: 10pt">platform features, reliability, performance and effectiveness;</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px; text-align: justify">&#160;</td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify">&#160;</td>
    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We believe we generally compete favorably with
our competitors with respect to the features, security and performance of our platform, the ease of integration of our applications and
the relatively low total cost of ownership of our applications. However, many of our competitors have substantially greater financial,
technical and other resources, greater name recognition, larger sales and marketing budgets, broader distribution, more diversified product
lines and larger and more mature intellectual property portfolios.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our goal is to maintain our technological advantages,
time to market and worldwide sales and distribution network. We believe that the principal competitive factors affecting the market for
our products include developer productivity, rapid results, product functionality, performance, reliability, scalability, portability,
interoperability, ease-of-use, demonstrable economic benefits for developers and users relative to cost, quality of customer support and
documentation, ease of installation, vendor reputation and experience, financial stability as well as intuitive and out-of-the-box solutions
to extend the capabilities of ERP, CRM and other application vendors for enterprise integration.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><div>

</div><!-- Field: Page; Sequence: 58; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->50<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Intellectual Property</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In accordance with industry practice, since we
have no registered patents on our software solution technologies, we rely upon a combination of copyright, trademark, trade secret laws
and contractual restrictions to protect our rights in our software products. Our policy has been to pursue copyright protection for our
software and related documentation and trademark registration of our product names. In addition, our key employees and independent contractors
and distributors are required to sign non-disclosure and secrecy agreements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We provide our products to customers under a non-exclusive,
non-transferable license. Usually, we have not required end-users of our products to sign license agreements. Generally, a &#8220;shrink
wrap&#8221; license agreement is included in the product packaging, which explains that by opening the package seal, the user is agreeing
to the terms contained therein. It is uncertain whether license agreements of this type are legally enforceable in all of the countries
in which the software is marketed.</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We do not believe that patent laws are a significant
source of protection for our products since the software industry is characterized by rapid technological changes, the policing of unauthorized
use of software is a difficult task and software piracy is expected to continue to be a persistent problem for the packaged software industry.
As there can be no assurance that the above-mentioned means of legal protection will be effective against piracy of our products, and
since policing unauthorized use of software is difficult, software piracy can be expected to be a persistent potential problem.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We believe that because of the rapid pace of technological
change in the software industry, the legal protections for our products are less significant factors in our success than the knowledge,
ability and experience of our employees, the frequency of product enhancements and the timeliness and quality of our support services.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our trademark rights include rights associated
with our use of our trademarks and rights obtained by registration of our trademarks. We have obtained trademark registrations in South
Africa, Canada, China, Israel, the Netherlands (Benelux), Switzerland, Thailand, Japan, the United Kingdom and the United States. The
initial terms of the registration of our trademarks range from 10 to 20 years and are renewable thereafter. Our use and registration of
our trademarks do not ensure that we have superior rights to others that may have registered or used identical or related marks on related
goods or services. We have registered a copyright for our software in the United States and Japan. In addition, we have registered copyrights
for some of our manuals in the United States and have acquired an International Standard Book Number (ISBN) for some of our manuals. Our
copyrights expire 70 years from date of first publication.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Environmental, Social &amp; Governance Matters</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We place emphasis on, and devote considerable
time towards, business responsibility, sustainability, and delivering value for our customer base, employees, investors, suppliers, and
each of our respective communities. We have developed a strong set of corporate values that inspire ethical behavior throughout their
decision-making process and that promote one of our business objectives of bringing together a diverse group with the unique skill sets,
knowledge, and talents to effectuate our vision.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 59; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->51<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_011"></a></div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>C.</b></span> <span style="font-size: 10pt; font-variant: small-caps"><b>Organizational Structure</b></span></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth the legal name,
location and country or state of incorporation and percentage ownership of our subsidiaries as of December 31, 2022:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: normal 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom">
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    Name</b></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><b>&#160;</b></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><b>Country&#160;of<br/>
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  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; width: 72%; text-align: justify">Magic Software Japan
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  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Magic Software Enterprises Inc.</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Delaware</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Magic Software Enterprises (UK)
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    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">United Kingdom</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Hermes Logistics Technologies Limited
    (shares held by Magic Software Enterprises (UK) Ltd)</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">United Kingdom</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Magic Software Enterprises Spain
    Ltd (shares held by Magic Software Enterprises Netherlands B.V.)</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Spain</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Coretech Consulting Group, Inc.
    (shares held by Magic Software Enterprises Inc)</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Pennsylvania</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Coretech Consulting Group LLC (shares
    held by Magic Software Enterprises Inc)</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Delaware</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Fusion Solutions LLC. (shares held
    by Coretech Consulting Group LLC)</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Delaware</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Fusion Technical Solutions LLC.
    (shares held by Fusion Solutions LLC)</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Delaware</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">49</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Xsell Resources Inc. (shares held
    by Coretech Consulting Group LLC)</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Pennsylvania</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Magic Software Enterprises (Israel)
    Ltd</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Israel</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Magic Software Enterprises Netherlands
    B.V.</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Netherlands</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Magic Software Enterprises France
    (shares held by Magic Software Enterprises Netherlands B.V.)</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">France</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Magic Beheer B.V. (shares held by
    Magic Software Enterprises Netherlands B.V.)</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Netherlands</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Magic Benelux B.V. (shares held
    by Magic Beheer B.V.)</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Netherlands</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Magic Software Enterprises GMBH
    (shares held by Magic Software Enterprises Netherlands B.V.)</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Germany</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Magic Software Enterprises India
    Pvt. Ltd</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">India</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>

<tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify; width: 72%">Onyx Magyarorszag Szsoftverhaz
    (shares held by Magic Software Enterprises Netherlands B.V.)</td><td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify; width: 15%">Hungary</td><td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left; width: 1%">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right; width: 9%">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left; width: 1%">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Magix Integration (Proprietary)
    Ltd</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">South Africa</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; vertical-align: top; text-align: left">AppBuilder Solutions
    Ltd</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">United Kingdom</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Complete Business Solutions Ltd</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Israel</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Datamind Technologies Ltd (shares
    held by Complete Business Solutions Ltd)</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Israel</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">CommIT Technology Solutions Ltd</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Israel</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">77.8</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">CommIT Software Ltd (shares held
    by Comm-IT Technology Solutions Ltd.)</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Israel</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">CommIT Embedded Ltd (shares held
    by Comm-IT Technology Solutions Ltd.)</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Israel</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">75</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Valinor Ltd. (shares held by Comm-IT
    Technology Solutions Ltd.)</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Israel</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Dario Solutions IT Ltd (shares held
    by Comm-IT Technology Solutions Ltd.)</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Israel</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Quickode Ltd (shares held by Comm-IT
    Technology Solutions Ltd.)</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Israel</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Twingo Ltd (shares held by Comm-IT
    Technology Solutions Ltd.)</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Israel</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">60</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">9540 Y.G. Soft I.T Ltd. (shares
    held by CommIT Software Ltd.)</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Israel</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">60</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; vertical-align: top; text-align: left">Pilat Europe Ltd.</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">United Kingdom</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Pilat (North America), Inc.</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">New Jersey</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Roshtov Software Industries Ltd</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Israel</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">80</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; vertical-align: top; text-align: left">BridgeQuest Labs,
    Inc. (shares held by BridgeQuest, Inc.)</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">North Carolina</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; vertical-align: top; text-align: left">BridgeQuest, Inc.
    (shares held by Magic Software Enterprises Inc.)</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">North Carolina</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Allstates Consulting Services LLC
    (shares held by Magic Software Enterprises Inc.)</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Delaware</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">F.T.S. - Formula Telecom Solutions
    Ltd.</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Israel</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">FTS Bulgaria Ltd. (FTS Global Ltd.)
    (shares held by F.T.S. - Formula Telecom Solutions Ltd.)</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Bulgaria</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Comblack IT Ltd</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Israel</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">80.1</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Yes-IT Ltd. (shares held by Comblack
    IT Ltd)</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Israel</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Shavit Software (2009) Ltd. (shares
    held by Comblack Ltd)</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Israel</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; vertical-align: top; text-align: left">Infinigy (UK)
    Holdings Limited</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">United Kingdom</td><td style="font: normal 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: justify">Infinigy (US) Holding Inc (shares
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    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">Georgia</td><td style="font: normal 10pt Times New Roman, Times, Serif"><b>&#160;</b></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><b>&#160;</b></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><b>100</b></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><b>%</b></td></tr>
</table><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left; border-bottom: Black 1.5pt solid"><span style="font-style: normal">Subsidiary
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    <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-style: normal">Country&#160;of<br/>
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    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-style: normal">Ownership<br/>
    Percentage</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-style: normal">&#160;</span></td></tr>

<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify; width: 72%"><span style="font-style: normal; font-weight: normal">Infinigy
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    <td style="font-weight: bold; text-align: justify; width: 15%"><span style="font-style: normal; font-weight: normal">Georgia</span></td><td style="font-weight: bold; width: 1%"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left; width: 1%"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right; width: 9%"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left; width: 1%"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Infinigy
    Engineering LLP (shares held by Infinigy Solutions LLC.).</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Georgia</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Skysoft
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    <td style="font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">75</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Futurewave
    Systems, Inc. (shares held by Fusion Solutions LLC.)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Georgia</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; vertical-align: top; font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">OnTarget
    Group, Inc</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">North Carolina</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">NetEffects,
    Inc. (shares held by Coretech Consulting Group LLC)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Missouri</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">PowWow
    Inc.</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">California</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">BA
    Microwaves Ltd.</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">56.67</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Stockell
    Information Systems Inc.</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Missouri</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Mobisoft
    Ltd.</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">73.75</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Magic
    Hands B.V.</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Netherlands</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Knowledge
    &amp; Solutions Software B.V.</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Netherlands</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Aptonet,
    Inc.</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Georgia</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Comm-IT
    USA, Inc.</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Delaware</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Comblack
    Municipal Services Ltd.</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">70</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Shavit
    Human resource Ltd.</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Menarva
    Ltd.</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Enable
    IT LLC. (shares held by Coretech Consulting Group LLC)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Delaware</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Enable
    IT Consulting Services Canada Inc. (shares held by Enable IT LLC.)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Canada</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Appush
    Technologies Ltd (Formerly known as Vidstart Ltd)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">80.1</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Appush
    Inc. (Shares held by Appush Technologies Ltd)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Delaware</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">The
    Goodkind Group, LLC</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">New York</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Goodkind
    Hospitality, LLC</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Delaware</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Intrabases
    SAS</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">France</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_012"></a></div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>D.</b></span> <span style="font-size: 10pt; font-variant: small-caps"><b>Property, Plants and Equipment</b></span></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our headquarters and principal administrative,
finance, sales, marketing and research and development office is located in a 32,404 square foot office facility that we lease in Or Yehuda,
Israel, a suburb of Tel Aviv. In 2022, we paid $0.6 million in annual rent for the Or Yehuda facilities under a lease agreement expiring
in June 2033, with two additional five (5) year options to extend our lease agreement for.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our subsidiaries lease office space in Laguna
Hills, California; King of Prussia, Pennsylvania; Dallas, Texas; Houston, Texas; New Jersey; Atlanta, Georgia; Paris, France; Munich,
Germany; Pune, India; Bangalore, India; Tokyo, Japan; Budapest, Hungary; Houten, the Netherlands; Johannesburg, South Africa; Bracknell,
the United Kingdom; Saint Petersburg, Russia; New York, New York and various locations in Israel. The aggregate annual cost for such facilities
was $4.8 million during the year ended December 31, 2022.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_013"></a></div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>ITEM 4A. <span style="text-decoration:underline">UNRESOLVED STAFF COMMENTS</span></b></span></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">Not applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_014"></a></div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>ITEM 5. <span style="text-decoration:underline">OPERATING AND FINANCIAL REVIEW AND PROSPECTS</span></b></span></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="m_015"></a></div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>A.</b></span> <span style="font-size: 10pt; font-variant: small-caps"><b>Operating Results</b></span></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following discussion of our results of operations
should be read together with our consolidated financial statements and the related notes, which appear elsewhere in this annual report.
The following discussion contains forward-looking statements that reflect our current plans, estimates and beliefs and involve risks and
uncertainties. Our actual results may differ materially from those discussed in the forward-looking statements. Factors that could cause
or contribute to such differences include those discussed below and elsewhere in this annual report.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Background</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We were organized under the laws of Israel on
February 10, 1983 and began operations in 1986. Our Ordinary Shares have been listed on the NASDAQ Stock Market (symbol: MGIC) since our
initial public offering in the United States on August 16, 1991. On January 3, 2011, our shares were transferred to the NASDAQ Global
Select Market. Since November 16, 2000, our Ordinary Shares have also traded on the Tel Aviv Stock Exchange, or the TASE, and since December
15, 2011, our shares have been included in the TASE&#8217;s TA-125 Index.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Overview</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We develop market, sell and support application
platforms, business and process integration and selected vertical comprehensive software solutions packages. We have 67 active wholly-owned
subsidiaries in the United States, Israel, Europe, Asia and South Africa. Of such subsidiaries, 30 are engaged in developing, marketing
and supporting vertical applications, as well as in selling and supporting our products, and 37 subsidiaries specialize in providing broad
range of IT consulting and outsourcing services in the areas of infrastructure design and delivery, application development, technology
planning and implementation services, as well as supplemental outsourcing services.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As an IT technology innovator, we have many years
of experience in assisting software companies and enterprises worldwide to produce and integrate their business applications. Our application
platforms, Magic xpa and AppBuilder, are used by thousands of enterprises and MSPs to develop solutions for their users and customers
in approximately 50 countries. We also provide maintenance and technical support as well as professional services to our enterprise customers
and to MSPs. In addition, we sell our Magic xpi and FactoryEye technologies for business integration to enterprises using specific popular
software applications, such as SAP, Salesforce.com, IBM i (AS/400) or Oracle JD Edwards and other business applications. We refer to these
vendor-centered market sectors as ecosystems.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our consolidated financial statements for the
year ended December 31, 2022 are our first consolidated financial statements prepared in accordance with IFRS. For all periods up to and
including the year ended December 31, 2021, we have prepared our financial statements in accordance with U.S GAAP. Accordingly, we have
prepared financial statements that comply with IFRS applicable as of December 31, 2022, together with the comparative period data for
the year ended December 31, 2021. An explanation of the principal adjustments made in restating the U.S. GAAP financial statements, including
the statement of financial position as of January 1, 2021 and the financial statements for the year ended December 31, 2021, is provided
in note 24 to our consolidated financial statements included in Item 18 of this annual report.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>General </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our consolidated financial statements appearing
in this annual report have been prepared in U.S. dollars and in accordance with IFRS.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Transactions and balances originally denominated
in dollars are presented at their original amounts. Transactions and balances in currencies other than the U.S. dollar are converted into
dollars in accordance with the <span style="background-color: white">the International Accounting Standard 21 (IAS 21)</span> &#8220;The
Effects of Changes in Foreign Exchange Rates.&#8221; The majority of our sales are made outside of Israel and a substantial part of them
is in dollars. In addition, a substantial portion of our costs is incurred in dollars. Since the dollar is the primary currency of the
economic environment in which we and certain of our subsidiaries operate, the dollar is our functional and reporting currency and accordingly,
monetary accounts maintained in currencies other than the dollar are remeasured into dollars using the foreign exchange rate in effect
at each balance sheet date. Operational accounts and non-monetary balance sheet accounts are measured and recorded at the exchange rate
in effect at the date of the transaction. For certain foreign subsidiaries whose functional currency is other than the U.S. dollar, all
balance sheet accounts have been translated using the exchange rates in effect at each balance sheet date. Operational accounts have been
translated using the average exchange rate prevailing during each year. The resulting translation adjustments are reported as a component
of accumulated other comprehensive income (loss) in equity.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Vision and Focus Areas </i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our vision of how the industry will evolve is
being driven by the change in enterprise mobility, cloud computing and Big Data. We believe that our technology and extensive services
will allow us to expand our offerings into the cloud and mobile enterprise markets with speed, scale and flexibility. We intend to remain
focused on both the technology and business architectures that will enable our customers to take advantage of the cost efficiencies and
competitive advantages conveyed by these technologies. We intend to continue to prudently take advantage of opportunities to capture market
transitions and to put our assets to use in existing and new markets as the recovery continues. We believe that our strategy and our ability
to innovate and execute may enable us to improve our competitive position in difficult business conditions and may continue to provide
us with long-term growth opportunities.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Key Factors Affecting Our Business</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our operations and the operating metrics discussed
below have been and will likely continue to be affected by certain key factors as well as certain historical events and actions. The key
factors affecting our business and results of operations include among others, dependence on a limited number of core product families,
selected vertical software solutions and services, competition, ability to realize benefits from business acquisitions, dependence on
a key customer for a significant percentage of our revenues and changes in the mix of revenues generated by different revenue elements
affect our gross margins and profitability. For further discussion of the factors affecting our results of operations, see &#8220;Risk
Factors.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Dependence on a limited number of core product
families and services </i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We derive a significant portion of our revenues
from sales of application and integration platforms primarily under our Magic xpa, Magic xpi, FactoryEye, Magic SmartUX and AppBuilder
brands and from related professional services, software maintenance and technical support as well as from packaged software solutions
in several business verticals (mainly human recourses, cargo handling, patient medical records and billing), and from other IT professional
services, which include IT consulting and outsourcing services. Our future growth depends heavily on our ability to effectively develop
and sell new products developed by us or acquired from third parties as well as add new features to existing products. A decrease in
revenues from our principal products and services would adversely affect our business, results of operations and financial condition.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Competition</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We compete with other companies in the areas of
application platforms, business integration and business process management, and in the applications and services markets in which we
operate. The growth of the SaaS and Enterprise Mobility market has increased the competition in these areas. We expect that such competition
will continue to increase in the future, both with respect to our technology, applications and services which we currently offer and applications
and services which we and other vendors are developing. Increased competition, direct and indirect, could adversely affect our business,
financial condition and results of operations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We also compete with other companies in the technical
IT consulting and outsourcing services industry. This industry is highly competitive and fragmented and has low entry barriers. We, through
eight of our subsidiaries in the United States and five of our subsidiaries in Israel, compete for potential customers with providers
of outsourcing services, systems integrators, computer systems consultants, other providers of technical IT consulting services and, to
a lesser extent, temporary personnel agencies. We expect competition to increase, and we may not be able to remain competitive.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->55<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Some of our existing and potential competitors
are larger companies, have substantially greater resources than us, including financial, technological, marketing, skilled human resources
and distribution capabilities, and enjoy greater market recognition than us. We may not be able to differentiate our products and services
from those of our competitors, offer our products as part of integrated systems or solutions to the same extent as our competitors, or
successfully develop or introduce new products that are more cost-effective, or offer better performance than our competitors. Failure
to do so could adversely affect our business, financial condition and results of operations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Dependence on key customers </i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We depend on repeat product and professional services
revenues from a certain base of existing customers. Our two largest customers accounted for 21.2% and 20.6% of our revenues in the years
ended December 31, 2021 and 2022, respectively, and our five largest customers accounted for 27.5% and 26.4% of our revenues in the years
ended December 31, 2021 and 2022, respectively. If these existing customers decide not to continue utilizing our professional services,
not to renew their existing engagements, not to continue using our products, or decide to significantly decrease their total expenditures
with us, it may adversely affect our business, results of operations and financial condition. While one of these five customers is under
a contract until December 31, 2027, under their master services agreements, the other customers may terminate their agreements with us
upon only a 30-days&#8217; notice and without any penalty.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Revenue Mix</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We derive our revenues from the sale of proprietary
and third-party software licenses, related professional services, maintenance and technical support as well as from other IT professional
services. In recent years the decline in our gross margin was primarily affected by the change in proportion of our revenues generated
from the sale of each of those elements of our revenues. Our revenues from the sale of our proprietary software licenses, related professional
services, maintenance and technical support have higher gross margins than our revenues from third party software licenses and IT professional
and outsourcing services. Any increase in the portion of third-party software license sales out of total license sales will decrease our
gross profit margin. If the relative proportion of our revenues from the sale of IT professional services continues to increase as a percentage
of our total revenues, our gross profit margins may continue to decline in the future.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The breakdown of our revenue mix for the twelve-month
period of 2022 was approximately 18% related to our software solutions and 82% related to our professional services, compared to 20% related
to our software and 80% related to our professional services in 2021 as a whole. The increase in the percentage of our professional services
is due to the continued strong demand for our professional experts driving our professional services revenue stream and the addition of
TGG acquired during the third quarter of 2022 to our professional services business segment contributing $10.1 million to our top line
this year.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Despite the significant change in mix of our revenues
between software solutions and professional services, the breakdown of our gross profit mix for the twelve-month period of 2022 remained
stable as approximately 40% of our gross profit related to our software solutions and 60% related to our professional services in 2022
as a whole, compared to 44% related to our software and 56% related to our professional services in 2021 as a whole.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>We may encounter difficulties in realizing
the potential financial or strategic benefits of recent and future business acquisitions.</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A significant part of our business strategy is
to pursue acquisitions and other initiatives based on strategy centered on three key factors: growing our customer base, expanding geographically
and adding complementary solutions to our portfolio&#8212; all while we seek to ensure our continued high quality of services and product
delivery. As such, in recent years we made numerous of acquisitions. Mergers and acquisitions of companies are inherently risky and subject
to many factors outside of our control and no assurance can be given that our future acquisitions will be successful and will not adversely
affect our business, operating results, or financial condition. In the future, we may seek to acquire or make strategic investments in
complementary businesses, technologies, services or products, or enter into strategic partnerships or alliances with third parties in
the future in order to expand our business. Failure to manage and successfully integrate acquisitions could materially harm our business
and operating results. Prior acquisitions have resulted in a wide range of outcomes, from successful introduction of new products and
technologies to a failure to do so. Even when an acquired company has previously developed and marketed products, there can be no assurance
that new product enhancements will be made in a timely manner or that pre-acquisition due diligence will have identified all possible
issues that might arise with respect to such products.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If we acquire another business, we may face difficulties,
including:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px; text-align: justify">&#160;</td>
    <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Difficulties in integrating the operations, systems, technologies, products, and personnel of the acquired businesses or enterprises;</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px; text-align: justify">&#160;</td>
    <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px; text-align: justify">&#160;</td>
    <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px; text-align: justify">&#160;</td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px; text-align: justify">&#160;</td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px; text-align: justify">&#160;</td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Impact of Currency Fluctuations and of Inflation</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our financial statements are stated in U.S. dollars,
our functional currency. However, a substantial portion of our revenues and costs are incurred in other currencies, particularly NIS,
Euros, Japanese yen, and the British pound. We also maintain substantial non-U.S. dollar balances of assets, including cash, accounts
receivable, and liabilities, including accounts payable and debts to banks and financial institutions. Therefore, fluctuations in the
value of the currencies in which we do business relative to the U.S. dollar may adversely affect our business, results of operations and
financial condition. The depreciation of such other currencies in relation to the U.S. dollar has the effect of reducing the U.S. dollar
value of any of our liabilities which are payable in those other currencies (unless such costs or payables are linked to the U.S. dollar).
Such depreciation also has the effect of decreasing the U.S. dollar value of any asset that is denominated in such other currencies or
receivables payable in such other currencies (unless such receivables are linked to the U.S. dollar). In addition, the U.S. dollar value
of revenues and expenses denominated in such other currencies would decrease. Conversely, the appreciation of any currency in relation
to the U.S. dollar has the effect of increasing the U.S. dollar value of any unlinked assets and the U.S. dollar amounts of any unlinked
liabilities and increasing the U.S. dollar value of revenues and expenses denominated in other currencies.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, while we incur a portion of our costs
in NIS, the U.S. dollar cost of our operations in Israel is influenced by the extent to which any increase in the rate of inflation in
Israel is (or is not) offset, or is offset on a lagging basis, by a devaluation of the NIS in relation to the U.S. dollar.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Because exchange rates between the NIS, euro,
Japanese Yen and the British pound and the U.S. dollar fluctuate continuously, exchange rate fluctuations and especially larger periodic
devaluations will have an impact on our profitability and period-to-period comparisons of our results. We cannot assure you that in the
future our results of operations may not be adversely affected by currency fluctuations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth for the periods
indicated (depreciation) or appreciation of the U.S. dollar against the most important currencies for our business and the Israeli consumer
price index:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 40%; text-align: left">New Israeli Shekel</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">8.1</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">(7.8</td><td style="width: 1%; text-align: left">)%</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">(7.0</td><td style="width: 1%; text-align: left">)%</td><td style="width: 1%">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td>Euro</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">4.6</td><td style="text-align: left">%</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2.0</td><td style="text-align: left">%</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(8.5</td><td style="text-align: left">)%</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">8.4</td><td style="text-align: left">%</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(2.4</td><td style="text-align: left">)%</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(1.2</td><td style="text-align: left">)%</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(5.0</td><td style="text-align: left">)%</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(11.7</td><td style="text-align: left">)%</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(14.6</td><td style="text-align: left">)%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">British Pound</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">5.6</td><td style="text-align: left">%</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(3.1</td><td style="text-align: left">)%</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(3.4</td><td style="text-align: left">)%</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(1.1</td><td style="text-align: left">)%</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">12.2</td><td style="text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Israeli Consumer Price Index</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">0.8</td><td style="text-align: left">%</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">0.6</td><td style="text-align: left">%</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(0.7</td><td style="text-align: left">)%</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2.8</td><td style="text-align: left">%</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">5.3</td><td style="text-align: left">%</td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Segments</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We report our results on the basis of two reportable
business segments: software services (which include proprietary and non-proprietary software technology and complementary services) and
IT professional services. Set forth below is segment information for the years ended December 31, 2021 and 2022.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in">Operating income (loss)</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">20,726</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 66; Value: 1 --><div>
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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Explanation of Key Income Statement Items</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Revenues</i></b><i>. </i>Revenues are derived
from sales of software licenses (proprietary and non-proprietary), related professional services, maintenance and technical support and
other IT professional services, which include, cloud computing and IT consulting and outsourcing services. Revenues may continue to be
affected by factors including market uncertainty, which can result in cautious spending in our global markets; changes in the geopolitical
environment; sales cycles; fluctuation of exchange rates; changes in the mix of direct sales and indirect sales and variations in sales
channels.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Cost of Revenues.</i></b> Cost of revenues
for software sales consist primarily of software production costs, royalties and licenses payable to third parties, as well as amortization
of capitalized and acquired software costs. Cost of revenues for maintenance and technical support and professional services consists
primarily of personnel expenses, subcontracting and other related costs. Cost of revenues for software sales is affected by changes in
the mix of products sold; price competition; sales discounts; fluctuation of exchange rates; and increases in labor costs. Service gross
margin may be impacted by various factors such as the change in mix between technical support services and advanced IT professional services,
the timing of technical support service contract initiations and renewals and the timing of our strategic investments in headcount and
resources to support this business.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Research and Development Expenses, Net.
</i></b>Research and development costs consist primarily of personnel expenses of employees engaged in on-going research and development
activities, subcontracting, development tools and other related expenses. The capitalization of software development costs is applied
as reductions to gross research and development costs to calculate net research and development expenses.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth the gross research
and development costs, capitalized software development costs, and the net research and development expenses for the periods indicated:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Selling and Marketing Expenses</i></b><i>.
</i>Selling and marketing expenses consist primarily of salaries and related expenses for sales and marketing personnel, sales commissions,
third party royalties, marketing programs and campaigns, website related expenses, public relations, on-line advertising, industry analyst
relations, promotional materials, travel expenses and conferences and trade shows exhibit expenses, as well as amortization of acquired
customer relationships recorded as a result of business combinations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>General and Administrative Expenses</i></b><i>.
</i>General and administrative expenses consist primarily of salaries and related expenses for executive, accounting, human resources
and administrative personnel, professional fees, legal expenses, provisions for credit losses, and other general and administrative corporate
expenses.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Financial income (expenses), net</i></b><i>.
</i>Net financial income (expenses) consists primarily of interest earned on cash equivalents deposits and marketable securities, bank
fees and interest paid on loans received, interest expenses related to liabilities in connection with acquisitions and impact of foreign
currency exchange rates fluctuations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 67; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->59<!-- Field: /Sequence --></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Results of Operations</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table presents selected consolidated
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Year Ended December 31, 2022 Compared with
Year Ended December 31, 2021</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Revenues</i></b><i>. </i>Revenues in 2022
increased by 18.0% from $480.3 million in 2021 to $566.8 million in 2022.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenues from the software services business segment
increased by 4.0% from $95.6 million in 2021 to $99.4 million in 2022. This is primarily attributable to i) first time consolidation of
our subsidiary Intrabases acquired on July 1<sup>st</sup> 2022 which contributed $1.4 million, ii) Increase of $0.9 million due to the
inclusion of Menarva revenues, acquired in April 1, 2021, on a full year basis and iii) increase in sales of proprietary software licenses.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenues from the IT professional services business
segment increased by 21.5% from $384.7 million in 2021 to $467.4 million in 2022, primarily attributable to i) increase of $3.7 million
due to the inclusion of Enable IT revenues, acquired on April 1, 2021 respectively on a full year basis, ii) increase of $21.0 million
due to the acquisition of Appush and TGG acquired on January 1, 2022 and August 15, 2022 respectively, with the remaining increase resulted
primarily from increased demand for our IT software services across most of our business units.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table summarizes our revenues by
geographical market for the years ended December 31, 2021 and 2022:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%; text-align: left">United States</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">254,342</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">308,485</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">205,258</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>Europe</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">39,247</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>Japan</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">11,443</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">10,121</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,993</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,681</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1.5pt; text-align: left">Total revenues</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">480,325</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">566,792</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Cost of Revenues</i></b>. Cost of revenues
increased by approximately 18.5% from $347.3 million in 2021 to $411.4 million in 2022.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cost of revenues from the software services business
segment increased by 0.2% from $37.6 million in 2021 to $37.7 million in 2022. As percentage of revenues, cost of revenues from the software
services business segment decreased from approximately 39% in 2021 to approximately 38% in 2022. This is primarily due to the increase
recorded in our sales of proprietary technology software licenses and proprietary packaged software solutions.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cost of revenues from the IT professional services
business segment increased by approximately 20.7% from $309.7 million in 2021 to $373.7 million in 2022. As percentage of revenues, cost
of revenues from the IT professional services business segment remained stable at approximately 80% in 2022 and 2021. The increase in
cost of revenues from the IT professional services business segment in absolute numbers is in line with the increase in revenues from
the IT professional services business segment.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Gross Margin</i></b>. Gross margin declined
mildly by 0.3% from 27.7% in 2021 to 27.4% in 2022. The decrease in our gross margin is mainly attributable to the change of our revenue
mix related to our software solutions compared to our professional.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Research and Development Expenses, Net</i></b>.
Gross research and development costs increase by 7.9% from 12.2 million in 2021 to $13.1 million in 2022. Net research and development
costs increased by 12.2% from $9.0 million in 2021 to $10.1 million in 2022. In 2022, we capitalized $3.1 million of software development
costs compared to $3.2 million in 2021. Net research and development costs as a percentage of revenues was 1.8% in 2022 compared to 1.9%
in 2021. Gross (net) research and development costs as a percentage of revenues of our software services business segment remains constant
at 13% (10%) between 2021 and 2022.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Selling and Marketing Expenses</i></b><i>.
</i>Selling and marketing expenses increased by 22.8% from $38.1 million in 2021 to $46.9 million in 2022. Selling and marketing expenses
as a percentage of revenues increased from 7.9% in 2021 to 8.3% in 2022. The increase in the sales and marketing expenses as a percentage
of sales is due to the sales and marketing costs in our newly acquired entity, TGG.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>General and Administrative Expenses.</i></b>
General and administrative expenses increased by 8.6% from $33.7 million in 2021 to $36.6 million in 2022. General and administrative
expenses as a percentage of revenues declined from 7.0% in 2021 to 6.5% in 2022. The increase in expenses is attributable mainly to stock
options issuance in one of our subsidiaries.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Financial Expenses, Net.</i></b> We recorded
net financial expenses of $3.7 million in 2021 and $3.6 million in 2022. The decrease is mainly attributed to $1.1 million increase in
interest expenses with respect to loans from financial institutions offset by $1.2 million decrease in costs arising from revaluation
of U.S dollar mainly versus the New Israeli Shekel and the Euro.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Taxes on Income</i></b>. We recorded taxes
on income of $10.3 million in 2021 compared to $11.1 million in 2022. The rest of the increase is in line with the increase in our taxable
income.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Net Income Attributable to Our Shareholders</i></b><i>.
</i>Our net income increased from $29.8 million in 2021 to $40.5 million in 2022, primarily attributable to an increase in our operation
profit of $9.6 million.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Year Ended December 31, 2021 Compared with
Year Ended December 31, 2020</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Please see Item 5A of our Form 20-F for the Year
ended December 31, 2021 filed on May 12, 2022 for this comparison.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_016"></a></div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>B.</b></span> <span style="font-size: 10pt; font-variant: small-caps"><b>Liquidity and Capital Resources</b></span></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To date, we have financed our operations through
income generated by operations, proceeds from our public offerings in 1991 (approximately $8.5 million), 1996 (approximately $5.0 million),
2000 (approximately $79.6 million) and 2014 (approximately $54.7 million), private equity investments in 1998 (approximately $12.2 million),
2010 (approximately $20.3 million), and in 2018 (approximately $34.6 million). In addition, we have also financed our operations through
short-term loans, long-term loans and borrowings under available credit facilities from financial institutions.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In November 2016, we obtained a NIS 120 million
loan linked to the New Israel Shekel from an Israeli financial institution. We intended to use the proceeds from this loan for our general
corporate purposes, which may include the funding of our working capital needs and the funding of potential acquisitions. The principal
amount of the loan is payable in seven equal annual payments with the final payment due on November 2, 2023 and bears a fixed interest
rate of 2.60% per annum, payable in two semi-annually payments. The loan, which may be prepaid under certain circumstances (in any event
for not less than NIS 5.0 million and thereon for amounts which are a multiple of NIS 5.0 million), is subject to various financial covenants
which mainly consist of the following:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 48px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">a.</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Our equity will not be lower than $100 million (one hundred million U.S. Dollars at all times;</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 48px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">b.</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Our cash and cash equivalent and marketable securities available for sales will not be less than $10 million (ten million U.S. Dollars);</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 48px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">c.</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">The ratio of our total financial debts to total assets will not exceed 50%;</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 48px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">d.</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">The ratio of our total financial debts less cash, short-term deposits and short-term marketable securities to the annual EBITDA will not exceed 3.25 to 1;</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 48px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">e.</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Cross default, including following an immediate repayment initiated in relation to other financial indebtedness in an amount that exceeds $5 million;</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 48px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">f.</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Suspension of trading of the debentures on the TASE over a period of 60 days, or the delisting of the debentures from the TASE;</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 48px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">g.</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">If there is a change in control without consent of the lender (a change of control is deemed to occur if Formula ceases to be the controlling shareholder of our company, whether directly or indirectly. Formula will be considered a controlling shareholder for so long as it continues to hold at least 30% of the means of control of our company (within the meaning of the Israeli Securities Law) and there is no other person or entity holding a higher percentage. To the extent that Formula holds such controlling interest jointly with others, it will be deemed to remain our controlling shareholder if it maintains the highest percentage ownership among such other shareholders);</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 48px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">h.</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">The existence and continuation of a bankruptcy event involving our company, or the liquidation of our company or writing off of our assets;</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 48px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">i.</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">There has been a material adverse change in the business of our company compared to the position of our company shortly before the issuance of the loan and there is a material concern that we will not be able to pay our obligations under the loan agreement on time; and</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 48px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">j.</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Failure to comply with the negative pledge covenant.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To date, we are in full compliance with the financial
covenants of the loan.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 1, 2021, the Company obtained a loan in
the amount of $ 15 million from an Israeli bank. The principal amount of the loan is payable in eight equal semi-annual installments with
the final payment due on December 1, 2025 and bears a fixed interest rate of SOFR + 2.1% per annum, payable in two semi-annual payments.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On March 31, 2022, the Company entered into a
secured credit agreement, or the Credit Agreement, with an Israeli bank (or the &#8220;Lender&#8221;). Pursuant to the Credit Agreement,
the Company borrowed $25 million, or the Bank Loan, for a five-year term. The Bank Loan will mature on March 31, 2027, and will be repaid
in 5 equal annual installments, whereas the interest will be paid and calculated on a quarterly basis. The Bank Loan bears interest at
the rate of SOFR + 2.25%.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On March 27, 2023, the Company entered into a
loan agreement with an Israeli bank, pursuant to which , the Company borrowed $20,000 for a four-year term (the &#8220;Bank Loan&#8221;).
The Bank Loan will mature on March 27, 2027, and will be repaid in four (4) equal annual instalments of $6,052 (including interest) starting
March 27, 2024. The Bank Loan bears interest at the rate SOFR + 3.38%.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The loan, which may be prepaid under certain circumstances,
is subject to various financial covenants which mainly consist of the following:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 48px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">a.</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Our equity will not be lower than $150 million (one hundred million U.S. Dollars at all times;</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
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    <td style="width: 24px"><span style="font-size: 10pt">c.</span></td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 48px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">c.</span></td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To date, we are in full compliance with the financial
covenants of the loan.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2022, we had $87.0 million in cash and cash equivalents,
with net working capital of approximately $93.0 million and long term debts to banks and others of approximately $30.4 million compared
to $94.8 million in cash and cash equivalents and available-for-sale marketable securities, with net working capital of approximately
$116.0 million and long term debts to banks and others of approximately $20.2 million, as of December 31, 2021.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2021, and 2022, our long-term
and short-term debt amounted to $37.3 million and $51.1 million, respectively and our redeemable non-controlling interests as of December
31, 2021 and 2022 amounted to $29.3 million and $28.3 million, respectively.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Based on our current operating forecast, we believe
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to meet our cash requirements for working capital and capital expenditures for at least the next 12 months. We assume that our cash provided
by operating activities may fluctuate in future periods as a result of a number of factors, including fluctuations in our operating results,
accounts receivable collections, payments of loans and the timing and amount of tax and other payments.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We believe the overall credit quality of our portfolio
is strong, with our cash equivalents and fixed income portfolio invested in securities with a weighted-average credit rating exceeding
A. Our fixed income and publicly traded equity securities are classified as Level 2 investments, as measured under IFRS 13, &#8220;Fair
Value Measurements,&#8221; as these vendors either provide a quoted market price in an active market or use observable inputs.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Cash Flows</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table summarizes our cash flows
for the periods presented:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="padding-left: 0.125in; text-indent: -0.125in">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="padding-left: 0.125in; text-indent: -0.125in">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(34,458</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(18,276</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Effect of exchange rate changes on cash and cash equivalents</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(248</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(8,909</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Decrease in cash and cash equivalents</td><td>&#160;</td>
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  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net cash provided by operating activities was
$56.6 million for the year ended December 31, 2022, compared to $43.7 million for the years ended December 31, 2021.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net cash provided by operations in 2022 consisted
primarily of $46.3 million of net income adjusted for non-cash activities, including $19.8 million of depreciation and amortization expenses,
$2.1 million of stock-based compensation expenses, a $1.9 million decrease in other long term and short term accounts receivable and prepaid
expenses, a $0.1 million increase in trade payables, a $1.0 million decrease in accrued expenses and other accounts payable, payments
in connection with contingent considerations arising from acquisitions in the amount of $3.9 million. and a $0. 5 million decrease in
deferred revenues, offset by a $3.9 million change in deferred taxes, net and a $2.6 million increase in trade receivables.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net cash provided by operations in 2021 consisted
primarily of $35.3 million of net income adjusted for non-cash activities, including $19.8 million of depreciation and amortization expenses,
$1.0 million of stock-based compensation expenses, a $0.3 million increase in other long term and short term accounts receivable and prepaid
expenses, a $8.8 million increase in trade payables, a $5.4 million increase in accrued expenses and other accounts payable, payments
in connection with contingent considerations arising from acquisitions in the amount of $ 0.6 million and a $4.1 million increase in deferred
revenues, offset by a $3.1 million change in deferred taxes, net and a $27.5 million increase in trade receivables.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net cash used in investing activities was approximately
$34.5 million for the year ended December 31, 2022, compared to net cash used in investing activities of approximately $22.2 million for
the year ended December 31, 2021.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net cash used in investing activities in 2022
is primarily attributable to $21.7 million used in business combinations, $4.4 million used to purchase property and equipment and $3.1
million of capitalized software development costs, loan extended to related party in the amount of $2.3 million, as well as investment
in short-term bank deposits which amounted to $1.7 million.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net cash used in investing activities in 2021
is primarily attributable to $6.8 million used in business combinations, $1.4 million used to purchase property and equipment and $3.2
million of capitalized software development costs, as well as investment in short-term bank deposits which amounted to $5.3 million.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net cash used in financing activities was approximately
$18.3 million for the year ended December 31, 2022, primarily attributable to dividend distributions of $24.8 million, dividends paid
to non-controlling interests of $4.2 million and repayment of short-term and long-term loans of $14.3 million, which were offset by proceeds
from short-term and long-term loans received in the amount of $30.7 million.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net cash used in financing activities was approximately
$21.3 million for the year ended December 31, 2021, primarily attributable to dividend distributions of $21.8 million, dividends paid
to non-controlling interests of $4.2 million and repayment of short-term and long-term loans of $14.5 million, which were offset by proceeds
from short-term and long-term loans received in the amount of $25.6 million.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Dividends </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have paid dividends since September 2012 consistent
with our Board of Directors&#8217; dividend policy. On August 2017, our board of directors amended our dividend distribution policy, whereas,
each year we distribute a dividend of up to 75% of our annual net income attributable to our shareholders (previously 50%), subject to
applicable law. Our Board of Directors may at its discretion and at any time, change, whether as a result of a one-time decision or a
change in policy, the rate of dividend distributions or decide not to distribute a dividend. The dividend is to be distributed on a semi-annual
basis.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For information about our dividend policy and
distributions, see Item 8A. &#8220;Financial Information - Consolidated Statements and Other Financial Information.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>General </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our consolidated financial statements appearing
in this annual report have been prepared in U.S. dollars and in accordance with IFRS.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Transactions and balances originally denominated
in dollars are presented at their original amounts. Transactions and balances in currencies other than the U.S. dollar are converted into
dollars in accordance with <span style="background-color: white">the International Accounting Standard 21 (IAS 21)</span> &#8220;The Effects
of Changes in Foreign Exchange Rates.&#8221; The majority of our sales are made outside of Israel and a substantial part of them is in
dollars. In addition, a substantial portion of our costs is incurred in dollars. Since the dollar is the primary currency of the economic
environment in which we and certain of our subsidiaries operate, the dollar is our functional and reporting currency and accordingly,
monetary accounts maintained in currencies other than the dollar are remeasured into dollars using the foreign exchange rate in effect
at each balance sheet date. Operational accounts and non-monetary balance sheet accounts are measured and recorded at the exchange rate
in effect at the date of the transaction. For certain foreign subsidiaries whose functional currency is other than the U.S. dollar, all
balance sheet accounts have been translated using the exchange rates in effect at each balance sheet date. Operational accounts have been
translated using the average exchange rate prevailing during each year. The resulting translation adjustments are reported as a component
of accumulated other comprehensive income (loss) in equity.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_017"></a></div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt; font-variant: small-caps"><b>C. Research and Development</b></span></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our research and development and support personnel
work closely with our customers, our prospective customers and relevant market analysts to determine our requirements and to design enhancements
and new releases to meet market needs. We periodically release enhancements and upgrades to our core products. In the years ended December
31, 2020, 2021 and 2022, we invested $12.1 million, $12.2 million and $13.2 million in research and development, respectively. Research
and development activities take place in our facilities in Israel, India, Russia and Japan<b>.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2022, we employed 257 employees
in research and development activities, of which 90 persons were located in Israel, 141 persons in India, 20 persons in Russia, 5 persons
in Japan (when measured on a full time basis) and 1 person in the US. Our product development team includes technical writers who prepare
user documentation for our products. In addition, we have also entered into arrangements with subcontractors for the preparation of product
user documentation and certain product development work.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For additional information regarding product development
see Item 4. &#8220;Information on the Company - Business Overview - Product Development.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_018"></a></div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt; font-variant: small-caps"><b>D. Trend Information</b></span></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For information see discussion in Item 4. &#8220;Information
on the Company-Business Overview-Industry Background and Trends&#8221; and Item 5. &#8220;Operating and Financial Review and Prospects
- Results of Operations.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_019"></a></div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt; font-variant: small-caps"><b>E. Critical Accounting Policies and Estimations</b></span></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Critical Accounting Policies and Estimations</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have identified the policies below as critical
to the understanding of our financial statements. The preparation of our consolidated financial statements in conformity with IFRS requires
management to make estimates and assumptions in certain circumstances that affect the amounts reported in the accompanying financial statements
and the related footnotes. Actual results may differ from these estimates. To facilitate the understanding of our business activities,
certain of our accounting policies that we believe are the most important to the portrayal of our financial condition and results of operations
and that require management&#8217;s subjective judgments are described below. We base our judgments on our experience and various assumptions
that we believe are reasonable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Revenue Recognition</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We implement the provisions of IFRS 15, Revenue from Contracts with
Customers. See Note 20 to our financial statements included in this annual report for further disclosures required under IFRS 15.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenues are recognized when control of the promised
goods or services are transferred to the customers, in an amount that reflects the consideration that we expect to receive in exchange
for those goods or services.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We determine revenue recognition through the following
steps:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
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  <tr style="vertical-align: top">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
  <tr style="vertical-align: top">
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  <tr style="vertical-align: top">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
  <tr style="vertical-align: top">
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  <tr style="vertical-align: top">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">allocation of the transaction price to the performance obligations in the contract; and</span></td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
  <tr style="vertical-align: top">
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We enter into contracts that can include various
combinations of products, software and professional services, as detailed below, which are generally distinct from each other and accounted
for as separate performance obligations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We derive our revenues from licensing the rights
to use our software (proprietary and non-proprietary), provision of related professional services, maintenance and technical support as
well as from other software and IT professional services (either fixed price or based on time and materials). We sell our products primarily
through direct sales force and indirectly through distributors and value added resellers.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under IFRS 15, an entity recognizes revenue when
or as it satisfies a performance obligation by transferring software license or software related services to the customer, either at a
point in time or over time. We recognize our revenues from software sales at a point in time upon delivery of a software license. The
software license is considered a distinct performance obligation, as the customer can benefit from the software on its own. Revenues from
contracts that involve significant customization to customer-specific specifications are performance obligations that we generally account
for as performance obligations satisfied over time. The underlying deliverable is owned and controlled by the customer and does not create
an asset with an alternative use to us. We recognize revenue of such contracts over time using cost inputs, which recognize revenue and
gross profit as work is performed based on a ratio between actual costs incurred compared to the total estimated costs for the contract,
to measure progress toward completion of its performance obligations. Provisions for estimated losses on uncompleted contracts are made
in the period in which such losses are first determined, in the amount of the estimated loss for the entire contract. During the years
ended December 31, 2021 and 2022, no material estimated losses were identified. In addition, we provide professional services that do
not involve significant customization to customer-specific specifications. For contracts that do not involve significant customization
to customer-specific specifications (typically staffing or consulting services) revenue is recognized as the services are performed, either
on a straight-line basis or based on the hours of services that were provided to the customer, in accordance with the terms of the contracts.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our revenues from post contract support are derived
from annual maintenance contracts providing for unspecified upgrades for new versions and enhancements on a when-and-if-available basis
for an annual fee, as well as technical support for software licenses previously sold. The right for an unspecified upgrade for new versions
and enhancements on a when-and-if-available basis do not specify the features, functionality and release date of future product enhancements
for the customer to know what will be made available and the general timeframe in which it will be delivered. We consider the post contract
support performance obligation as a distinct performance obligation that is satisfied over time, and recognized on a straight-line basis
over the contractual period.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue from professional services both related
to software and IT professional services businesses consists of either fixed price or time and materials (T&amp;M), and are considered
performance obligations that are satisfied over time, and revenues are recognized as the services are provided.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The transaction price is allocated to the separate
performance obligations on a relative standalone selling price basis. Standalone selling prices of software licenses are estimated using
the residual approach, due to the lack of selling software licenses on a standalone basis. Standalone selling prices of services are determined
by considering several external and internal factors including, but not limited to, transactions where the specific performance obligation
is sold separately.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We generally do not grant a right of return to
our customers. When a right of return exists, we defer revenue until the right of return expires, at which time revenue is recognized
provided that all other revenue recognition criteria are met.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue from third-party sales is recorded at
a gross or net amount according to certain indicators. The application of these indicators for gross and net reporting of revenue depends
on the relative facts and circumstances of each sale.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We pay commissions to sales and marketing and
certain management personnel based on their attainment of certain predetermined sales or profit goals. When sales commissions are considered
incremental costs of obtaining a contract with a customer they are deferred and amortized on a systematic basis that is consistent with
the transfer to the customer of the performance obligations to which the asset relates. We generally expense sales commissions as they
are incurred when the amortization period would have been less than one year. In addition, generally, sales commissions which are paid
upon contract renewal are commensurate with the initial commissions as the renewal amounts are substantially identical to the initial
commission costs. During the year ended December 31, 2022, no costs have been capitalized.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We do not assess whether a contract has a significant
financing component if the expectation at contract inception is such that the period between payment by the customer and the transfer
of the promised goods or services to the customer will be one year or less.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Research and development costs</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Research and development costs incurred in the
process of software development before establishment of technological feasibility are charged to expenses as incurred. Costs incurred
subsequent to the establishment of technological feasibility are capitalized according to the principles set forth in IAS 38, &#8220;Intangible
Assets.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We establish technological feasibility upon completion
of a detailed program design or working model.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Research and development costs incurred in the
process of developing product enhancements are generally charged to expenses as incurred.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">IAS 38 requires that a product be amortized when
the product is available for general release to customers. We consider a product to be available for general release to customers when
we complete the internal validation of the product that is necessary to establish that the product meets its design specifications including
functions, features, and technical performance requirements. Internal validation includes the completion of coding, documentation and
testing that ensure bugs are reduced to a minimum. The internal validation of the product takes place a few weeks before the product is
made available to the market. In certain instances, we enter into a short pre-release stage, during which the product is made available
to a selected number of customers as a beta program for their own review and familiarization. Subsequently, the release is made generally
available to customers from our download area. Once a product is considered available for general release to customers, the capitalization
of costs ceases and amortization of such costs to &#8220;cost of sales&#8221; begins.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Capitalized software costs are amortized on a
product by product basis by the straight-line method over the estimated useful life of the software product (approximately 5 years, due
to their high rates of acceptance, the continued reliance on these products by existing customers, and the demand for such products from
prospective customers, all of which validate our expectations) which provides greater amortization expense compared to the revenue-curve
method.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We assess the recoverability of these intangible
assets on a regular basis by assessing the net realizable value of these intangible assets based on the estimated future gross revenues
from each product reduced by the estimated future costs of completing and disposing of it, including the estimated costs of performing
maintenance and customer support over its remaining economical useful life using internally generated projections of future revenues generated
by the products, cost of completion of products and cost of delivery to customers over its remaining economical useful life.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the years ended December 31, 2021 and 2022,
no such unrecoverable amounts were identified.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Research and development costs incurred in the
process of developing product enhancements are generally charged to expenses as incurred.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Business Combinations</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We account for business combinations under IFRS
3 &#8220;Business Combinations,&#8221; which requires that we allocate the purchase price of acquired businesses to assets acquired, liabilities
assumed, non-controlling interest and redeemable non-controlling interest in the acquiree at the acquisition date, measured at their fair
values as of that date. We expense any excess of the fair value of net assets acquired over purchase price and any subsequent changes
in estimated contingencies as they are incurred. In addition, changes in valuation allowance related to acquired deferred tax assets and
in acquired income tax position are to be recognized in earnings. We engage third-party appraisal firms to assist management in determining
the fair values of certain assets acquired and liabilities assumed. Such valuations require management to make significant estimates and
assumptions, especially with respect to intangible assets.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We make estimates of fair value based upon assumptions
and judgments a marketplace participant would consider and which we believe to be reasonable. These estimates are based on historical
experience and information obtained from the management of the acquired businesses and relevant market and industry data and are, inherently,
uncertain. Critical estimates made in valuing certain of the intangible assets include, among other things, the following: (i) future
expected cash flows from license sales, maintenance agreements, customer contracts and acquired developed technologies and patents; (ii)
expected costs to develop the in-process research and development into commercially viable products and estimated cash flows from the
projects when completed; (iii) the acquired company&#8217;s brand and market position as well as assumptions about the period of time
the acquired brand will continue to be used in the combined company&#8217;s product portfolio; and (iv) discount rates. Unanticipated
events and circumstances may occur which may affect the accuracy or validity of such assumptions, estimates or actual results. Changes
to these estimates, relating to circumstances that existed at the acquisition date, are recorded as an adjustment to goodwill during the
purchase price allocation period (generally within one year of the acquisition date) and as operating expenses, if otherwise.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with purchase price allocations,
we estimate the fair value of the support obligations assumed in connection with acquisitions. The estimated fair value of the support
obligations is determined utilizing a cost build-up approach. The cost build-up approach determines fair value by estimating the costs
related to fulfilling the obligations plus a normal profit margin. The sum of the costs and operating profit approximates, in theory,
the amount that we would be required to pay a third party to assume the support obligation. See Note 3 to our consolidated financial statements
for additional information on accounting for our recent acquisitions.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the years ended December 31, 2021 and 2022
we recorded $5.3 million and $0.7 million, with respect to changes in the fair value of contingent consideration liability, respectively.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><b><i>Goodwill</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">We review goodwill for
impairment once a year, on December 31, or more frequently if events or changes in circumstances indicate that there is an impairment.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Goodwill is tested for
impairment by assessing the recoverable amount of the cash-generating unit (or group of cash-generating units) to which the goodwill has
been allocated. An impairment loss is recognized if the recoverable amount of the cash-generating unit (or group of cash-generating units)
to which goodwill has been allocated is less than the carrying amount of the cash-generating unit (or group of cash-generating units).
Any impairment loss is allocated first to goodwill. Impairment losses recognized for goodwill cannot be reversed in subsequent periods.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">The goodwill is attributed
to each of our two reportable segments, which represent the lowest level within the Company at which goodwill is monitored for internal
management purposes.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">As of December 31, 2022,
we performed an assessment for goodwill impairment, and concluded that the fair value of the goodwill exceeds the carrying amount.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Actual results may differ from those assumed in our valuation method.
It is reasonably possible that our assumptions described above could change in future periods. &#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Impairment of long-lived assets, right of
use assets and intangible assets subject to amortization</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We review our long-lived assets to be held or
used, including right of use assets and intangible assets that are subject to amortization long-lived assets for impairment in accordance
with IAS 16, &#8220;Property, Plant and Equipment,&#8221; or IAS 16, whenever events or changes in circumstances indicate that the carrying
value of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount
of an asset to the future undiscounted cash flows expected to be generated by the assets. If such assets are considered to be impaired,
the impairment to be recognized is measured by the amount by which the carrying value of the assets exceeds the fair value of the assets.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As required by IFRS 13, &#8220;Fair Value Measurements&#8221;,
we apply assumptions, judgments and estimates that marketplace participants would consider in determining the fair value of long-lived
assets (or asset groups).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Intangible assets with finite lives are comprised
of distribution rights, acquired technology, customer relationships, backlog and non-compete agreements and are amortized over their economic
useful life using a method of amortization that reflects the pattern in which the economic benefits of the intangible assets are consumed
or otherwise used up. Distribution rights, acquired technology and non-compete agreements were amortized on a straight line basis and
customer relationships and backlog were amortized on an accelerated method basis over a period between 1 and 15 years based on the customer
relationships identified.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the years ended December 31, 2021 and 2022,
no impairment indicators were identified.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Stock-based Compensation</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We account for stock-based compensation in accordance
with IFRS 2 &#8220;Share-based Payment,&#8221; or IFRS 2 which requires registrants to estimate the fair value of equity-based payment
awards on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is
recognized as an expense over the requisite service periods in our consolidated statement of income. We recognize compensation expenses
for the value of our awards, which have graded vesting based on the accelerated method over the requisite service period of each of the
awards, net of estimated forfeitures. To measure and recognize compensation expense for share-based awards we use the Binomial option-pricing
model. The Binomial model for option pricing requires a number of assumptions such as volatility, dividend yield rate, and risk-free interest
rate and also allows for the use of dynamic assumptions and considers the contractual term of the option, the probability that the option
will be exercised prior to the end of its contractual life, and the probability of termination or retirement of the option holder in computing
the value of the option.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value of each option granted using the
Binomial model, was estimated on the date of grant with the following assumptions: expected volatility was based upon actual historical
stock price movements and was calculated as of the grant dates for different periods, since the Binomial model can be used for different
expected volatilities for different periods. The risk-free interest rate was based on the yield from U.S. Treasury zero-coupon bonds with
an equivalent term to the contractual term of the options. The expected term of options granted was derived from the output of the option
valuation model and represented the period of time that options granted were expected to be outstanding. Estimated forfeitures were based
on actual historical pre-vesting forfeitures. Since dividend payments are applied to reduce the exercise price of the option, the effect
of the dividend protection was reflected by using an expected dividend assumption of zero.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For awards with performance conditions, compensation
cost is recognized over the requisite service period if it is &#8216;probable&#8217; that the performance conditions will be satisfied.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the years ended December 31, 2021 and 2022,
we recognized stock-based compensation expenses related to employee stock options of $1.0 million, and $2.1 million, respectively.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Contingencies</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">From time to time, we are subject to legal, administrative
and regulatory proceedings, claims, demands and investigations in the ordinary course of business, including claims with respect to intellectual
property, contracts, employment and other matters. We accrue a liability when it is both probable that a liability has been incurred and
the amount of the loss can be reasonably estimated. Significant judgment is required in both the determination of probability and the
determination as to whether a loss is reasonably estimable. These accruals are reviewed and adjusted to reflect the impact of negotiations,
settlements, rulings, advice of legal counsel and other information and events pertaining to a particular matter.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Principles of Consolidation</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements include
the accounts of the Company and its subsidiaries. Intercompany balances and transactions, including profit from intercompany sales not
yet realized outside the Group, have been eliminated upon consolidation.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Changes in the parent&#8217;s ownership interest
in a subsidiary with no change of control are treated as equity transactions, with any difference between the amount of consideration
paid and the change in the carrying amount of the non-controlling interest, recognized in equity.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Non-controlling interests of subsidiaries represent
the non-controlling share of the total comprehensive income (loss) of the subsidiaries and fair value of the net assets upon the acquisition
of the subsidiaries. The non-controlling interests are presented in equity separately from the equity attributable to the equity holders
of the Company.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">When the Company grants to non-controlling interests
a put option to sell part or all of their interests in a subsidiary, during a certain period, even if such purchase obligation is conditional
on the counterparty&#8217;s exercise of its contractual right to cause such redemption, if the put option agreement does not transfer
to the Company any benefits incidental to ownership of the equity instrument (i.e. the Company does not have a present ownership in the
shares concerned) then at the end of each reporting period the non-controlling interests (to which a portion of net profit attributable
to non-controlling interests is allocated) are classified as a financial liability, as if such put-able equity instrument was redeemed
on that date. The difference between the non-controlling interests carrying amount at the end of the reporting period and the present
value of the liability is recognized directly in equity of the Company, under &#8220;Additional paid-in capital&#8221;,, in accordance
with the requirements of IFRS 10 &#8220;Consolidated Financial Statements&#8221; and IAS 32, &#8220;Financial Instruments.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Fair Value Measurements</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We account for certain assets and liabilities
at fair value under IFRS 13. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer
a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined
based on assumptions that market participants would use in pricing an asset or a liability. As a basis for considering such assumptions,
IFRS 13 establishes a three-tier value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Level 1 - Observable inputs that reflect
quoted prices (unadjusted) for identical assets or liabilities in active markets.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Level 2 - Significant other observable
inputs based on market data obtained from sources independent of the reporting entity.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Level 3 - Unobservable inputs which
are supported by little or no market activity (for example cash flow modeling inputs based on assumptions).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Assets and liabilities measured at fair value on a recurring basis
are comprised of marketable securities, foreign currency forward contracts and contingent consideration of acquisitions (See Note 6 to
the consolidated financial statements).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The carrying amounts reported in the balance sheet
for cash and cash equivalents, short term bank deposits, trade receivables, other accounts receivable, short-term bank credit, trade payables
and other accounts payable approximate their fair values due to the short-term maturities of such instruments.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Income Tax</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We account for income taxes in accordance with
IAS 12, &#8220;Income Taxes,&#8221; or IAS 12. IAS 12prescribes the use of the &#8220;asset and liability&#8221; method whereby deferred
tax asset and liability account balances are determined based on differences between financial reporting and tax bases of assets and liabilities
and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. We provide
a valuation allowance, if necessary, to reduce deferred tax assets to their estimated realizable value. Deferred tax assets and liabilities
are classified as non-current.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Taxes that would apply in the event of disposal
of investments in subsidiaries have not been taken into account in computing deferred taxes, as it is our intention to hold these investments,
rather than realize them. We do not expect our non-Israeli subsidiaries to distribute taxable dividends in the foreseeable future, as
their earnings are needed to fund their growth while we expect to have sufficient resources in the Israeli companies to fund our cash
needs in Israel.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our non-Israeli subsidiaries are taxed according
to the tax laws in their respective domiciles of residence. If earnings are distributed to Israel in the form of dividends or otherwise,
the Company may be subject to additional Israeli income taxes (subject to an adjustment for foreign tax credits) and foreign withholding
tax rates.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Neither Israeli income taxes, foreign withholding
taxes nor deferred income taxes were provided in relation to undistributed earnings of the non-Israeli subsidiaries. This is because we
intend to permanently reinvest undistributed earnings in the foreign subsidiaries in which those earnings arose. If these earnings were
distributed in the form of dividends or otherwise, we would be subject to additional Israeli income taxes (subject to an adjustment for
foreign tax credits) and non-Israeli withholding taxes.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The amount of cash and cash equivalents that are
currently held outside of Israel that would be subject to income taxes if distributed as dividends is $28.9 million. However, a determination
of the amount of the unrecognized deferred tax liability for temporary difference related to those undistributed earnings of foreign
subsidiaries is not practicable due to the complexity of the structure of our group of subsidiaries for tax purposes and the difficulty
of projecting the amount of future tax liability.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><b>Recently Issued Accounting Standards</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">For a description of recently issued and recently
adopted accounting standards, see Note 2 to our consolidated financial statements appearing elsewhere in this annual report.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_020"></a></div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>ITEM 6. <span style="text-decoration:underline">DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES</span></b></span></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="m_021"></a></div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>A.</b></span> <span style="font-size: 10pt; font-variant: small-caps"><b>Directors and Senior Management</b></span></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Set forth below are the name, age, principal position
and a biographical description of each of our directors and executive officers:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: left"><span style="font-size: 10pt"><b>Name</b></span></td>
    <td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center"><span style="font-size: 10pt"><b>Age</b></span></td>
    <td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: Black 1.5pt solid; text-align: center"><span style="font-size: 10pt"><b>Position</b></span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 15%; text-align: left"><span style="font-size: 10pt">Guy Bernstein </span></td>
    <td style="width: 1%; text-align: justify">&#160;</td>
    <td style="width: 8%; text-align: center"><span style="font-size: 10pt">55</span></td>
    <td style="width: 1%; text-align: justify">&#160;</td>
    <td style="width: 75%; text-align: justify"><span style="font-size: 10pt">Chief Executive Officer and Director</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-size: 10pt">Sagi Schliesser <sup>(1)</sup></span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center"><span style="font-size: 10pt">51</span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify"><span style="font-size: 10pt">External Director</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">Ron Ettlinger <sup>(1)</sup></span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center"><span style="font-size: 10pt">56</span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify"><span style="font-size: 10pt">External Director</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-size: 10pt">Naamit Salomon </span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center"><span style="font-size: 10pt">58</span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify"><span style="font-size: 10pt">Director</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">Avi Zakay <sup>(1)</sup></span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center"><span style="font-size: 10pt">44</span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify"><span style="font-size: 10pt">Director</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-size: 10pt">Asaf Berenstin </span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center"><span style="font-size: 10pt">45</span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify"><span style="font-size: 10pt">Chief Financial Officer</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">Arik Kilman </span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center"><span style="font-size: 10pt">70</span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify"><span style="font-size: 10pt">Chairman, Software Solutions division</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-size: 10pt">Yakov Tsaroya </span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center"><span style="font-size: 10pt">53</span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify"><span style="font-size: 10pt">Chief Executive Officer of Coretech Consulting Services and Fusion Solutions</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">Yael Ilan </span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center"><span style="font-size: 10pt">54</span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify"><span style="font-size: 10pt">Chief Executive Officer of Complete Business Solutions</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-size: 10pt">Arik Faingold </span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center"><span style="font-size: 10pt">46</span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify"><span style="font-size: 10pt">President, Integration Solutions division</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">Yuval Baruch </span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center"><span style="font-size: 10pt">56</span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify"><span style="font-size: 10pt">Chief Executive Officer of Hermes Logistics</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-size: 10pt">Hanan Shahaf </span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center"><span style="font-size: 10pt">71</span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify"><span style="font-size: 10pt">Chief Executive Officer of Roshtov Software Industries Ltd</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">Yuval Lavi </span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: center"><span style="font-size: 10pt">54</span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify"><span style="font-size: 10pt">Vice President Technology and innovation of Software Solutions division</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><div style="font-size: 1pt; border-top: Black 1.5pt solid">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px"><span style="font-size: 10pt">(1)</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Member of our Audit and Compensation Committees</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Messr. Guy Bernstein, Avi Zakay and Ms. Naamit
Salomon were re-elected as directors at our 2022 annual general meeting of shareholders to serve as directors until our 2023 annual general
meeting of shareholders.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Messrs. Sagi Schliesser and Ron Ettlinger are
serving as external directors pursuant to the provisions of the Israeli Companies Law for their second three-year terms.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Messrs. Guy Bernstein and Asaf Berenstin are first
cousins. Mr. Arik Faingold is the brother of Mr. Idan Faingold who is an executive officer of the Commit Group and the two brothers are
the owners of the 13.6% minority interest in that company. Other than such relationships, there are no family relationships among our
directors and senior executives.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Guy Bernstein</i></b> has served as our
chief executive officer since April 2010 and has served as a director of our company since January 2007 and served as the chairman of
our board of directors from April 2008 to April 2010. Mr. Bernstein has served as the chief executive officer of Formula Systems, our
parent company, since January 2008. From December 2006 to November 2010, Mr. Bernstein served as a director and the chief executive officer
of Emblaze Ltd. or Emblaze, our former controlling shareholder. Mr. Bernstein also serves as the chairman of the board of directors of
Sapiens International Corporation N.V., or Sapiens, and is the chairman of the board of directors of Matrix IT Ltd., both of which are
subsidiaries of Formula Systems. From April 2004 to December 2006, Mr. Bernstein served as the chief financial officer of Emblaze and
he has served as a director of Emblaze since April 2004. Prior to that and from 1999, Mr. Bernstein served as our chief financial and
operations officer. Prior to joining our company, Mr. Bernstein was senior manager at Kost Forer Gabbay &amp; Kasierer, a member of Ernst&amp;
Young Global, from 1994 to 1997. Mr. Bernstein holds a B.A. degree in accounting and economics from Tel Aviv University and is a certified
public accountant (CPA) in Israel.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Sagi Schliesser</i></b> has served as an
external director of our company since November 2015 and is a member of our audit committee. Mr. Schliesser has been the co-founder and
chief executive officer of TabTale, a creator of innovative games, interactive books and educational apps since 2010. Prior to founding
TabTale, Mr. Schliesser was the CTO of Sapiens International Corporation (NASDAQ and TASE: SPNS), managing Sapiens Technologies. Previously
Mr. Schliesser served for seven years as VP of R&amp;D and CTO of IDIT Technologies Ltd., a global provider of insurance software solutions.
Before that Mr. Schliesser was one of the founders of WWCOM, a B2B enablement software startup.&#160;Mr. Schliesser holds a B.Sc.&#160;degree
with honors in Computer Science and Psychology from Tel Aviv University, as well as a Master&#8217;s degree in Computer Science from the
Interdisciplinary Center in Herzliya&#160;and an M.B.A. degree with honors in Business Psychology from Hamaslool Ha&#8217;akademi Shel
Hamichlala Leminhal.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Ron Ettlinger </i></b>has served as an external
director of our company since December 2014 and is a member of our audit committee. Mr. Ettlinger is the founder and has been the chief
executive officer of &#8220;Nippon Europe Israel Ltd.,&#8221; a leading provider of car multimedia advanced systems, since October 2000.
Prior to that, Mr. Ettlinger was the owner and general manager of Universal Ltd., a car service. Mr. Ettlinger is the founder and since
July 2014 has served as chief executive officer of Nippon Lights Ltd., a leading provider of LED lights and panels. Mr. Ettlinger holds
a B.A. degree in Business, with a major in finance and marketing from Tel-Aviv College of Management.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Naamit Salomon </i></b>has served as director
of our company since March 2003. Since January 2010, Ms. Salomon has served as a partner in an investment company. Ms. Salomon also serves
as a director of Sapiens, which is part of the Formula group. Ms. Salomon served as the chief financial officer of Formula Systems from
August 1997 until December 2009. From 1990 through August 1997, Ms. Salomon served as the controller of two large privately held companies
in the Formula group. Ms. Salomon holds a B.A. degree in Economics and Business administration from Ben Gurion University and an LL.M.
degree from Bar-Ilan University.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Avi Zakay</i></b> has served as director
of our company since February 2018. Mr. Zakay has been the sales manager of the Volkswagen dealership and showroom in Rishon Letzion (Champion
Motors) since 2014. In 2013, he served as the sales manager of the showroom of Mitsubishi&#160;Motors in Netanya, and from 2007 to 2013,
he served as a sales manager of BMW and Mercedes-Benz in Tel Aviv. Mr. Zakay holds a B.A. degree in Business Administration and studied
for an M.B.A. degree, both from College of Management in&#160;Tel-Aviv.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Asaf Berenstin </i></b>has served as our
chief financial officer since April 2010. In November 2011, Mr. Berenstin was appointed as Chief Financial Officer of our parent company
Formula Systems (1985) Ltd. in addition to his position as chief financial officer of our company. Prior to that and from August 2008,
Mr. Berenstin served as our corporate controller. Mr. Berenstin also serves as a director of Michpal Micro Computers (1983) Ltd., a director
at TSG IT Advanced Systems Ltd., and is a director at InSync staffing, all of them are subsidiaries of Formula Systems. Prior to joining
our company and from July 2007, Mr. Berenstin served as a controller at Gilat Satellite Networks Ltd. (NASDAQ: GILT). From October 2003
to July 2008, Mr. Berenstin was a certified public accountant at Kesselman &amp; Kesselman, a member of PriceWaterhouseCoopers. Mr. Berenstin
holds a B.A. degree in Accounting and Economics and an M.B.A. degree, both from Tel Aviv University, and is a certified public accountant
(CPA) in Israel.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Yuval Lavi</i></b> has served as Vice President
Technology and Innovation since 2017. Prior to that and from April 2013, Mr. Lavi served as vice president, Corporate Professional Services&amp;
Support,. Mr. Lavi joined our company in 2013,. Before joining our company, Mr. Lavi served for 18 years as the Chief Technology Officer
and joint founder of Kopel Reem Ltd.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Arik Kilman</i></b> has served as chairman
of our Software Solutions division since January 2017 and president of AppBuilder Software Solutions division since January 2012, following
our acquisition of AppBuilder Solutions Ltd. at which time he was named Chief Executive Officer of AppBuilder. Prior to joining our company,
Mr. Kilman served as Chief Executive Officer of BluePhoenix Solutions Ltd., the former parent of AppBuilder from May 2003 to January 2009
and from April 2010 to December 2011. Mr. Kilman holds a B.A. degree in Economics and Computer Science from New York City College of Technology.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Yakov Tsaroya</i></b> has served as chief
executive officer of our subsidiary,&#160;CoreTech Consulting Group LLC, since 2006. Mr. Tsaroya has also served as Chief Executive Officer
of Fusion Solution LLC and Xsell Resources Inc. since our acquisition of these companies in 2010. Mr. Tsaroya holds a B.A. degree in Accounting
and Finance from the College of Administration in Israel and is a certified public accountant (CPA) in Israel.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Yael Ilan</i></b> joined Complete Business
Solutions as CEO in 2022 after spending six years as CEO at Formula Telecom Solution. Prior to joining Magic group, Yael held several
managerial positions in Amdocs USA and Amdocs Israel Professional Services groups, supporting large operations for communication service
providers in Israel and abroad. Yael also served as an independent consultant of operations management and control for high-tech and low-tech
companies. Yael holds a B.A degree from Jerusalem&#8217;s Hebrew University in Economics and Business Administration and a professional
Diploma in Computer Sciences.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Arik Faingold</i></b> has served as president
of our Integration Solutions division since July 2012. Mr. Faingold has served as chairman of Comm-IT Group since 2009. Mr. Faingold was
General Manager of Open TV Israel, part of OpenTV Global, from 2003 to 2009. Mr. Faingold served as Co-founder and CTO of Betting Corp
from 1999 to 2003. Mr. Faingold holds a B.A. degree in Computer Science from the Interdisciplinary Center in Herzliya and an M.B.A. degree
from Tel Aviv University.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Yuval Baruch</i></b> has served as an officer
of our company since his appointment in September 2012 as the chief executive officer of Hermes Logistics Technologies (HLT). Mr. Baruch
has also served as the chief executive officer of Pilat HR solutions since April 2013. Mr. Baruch was chief executive officer of J.R.
Holdings &amp; Development from November 2007 to January 2012. Mr. Baruch has served as an external director of Matrix IT, a publicly
traded company in Israel, since 2011. Between 2004 and 2008 Mr. Baruch launched, managed and divested a chain of fitness centers in Israel.
Mr. Baruch holds a B.A. degree in Marketing and Finance from The College of Management in Israel and an M.B.A. degree from the Stanford
Graduate School of Business.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Hanan Shahaf </i></b>became an officer of
our company in July 2016, as part of the Roshtov Software Industries Ltd. acquisition. Mr. Shahaf was one of Roshtov&#8217;s founders
in 1989 and has served as its Chief Executive Officer and a director since its inception. He also served as a director and chairman on
several board of private companies. Mr. Shahaf holds a B.sc degree in Industrial engineering and Management and an M.B.A. from Northwestern
University (Kellogg School of Management) and Tel Aviv University (Recanati Graduate School of Business Administration).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_022"></a></div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>B.</b></span> <span style="font-size: 10pt; font-variant: small-caps"><b>Compensation</b></span></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth all compensation
we paid with respect to all of our directors and executive officers as a group for the year ended December 31, 2022.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Salaries,<br/> fees,<br/> commissions<br/> and bonuses</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Pension,<br/> retirement<br/> and similar<br/> benefits</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%; text-align: left; text-indent: -9pt; padding-left: 9pt">All directors and executive officers as a group (12&#160;persons)</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">5,900,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">178,000</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For so long as we qualify as a foreign private
issuer, we are not required to comply with the proxy rules applicable to U.S. domestic companies, including the requirement to disclose
information concerning the amount and type of compensation paid to our chief executive officer, chief financial officer and the three
other most highly compensated executive officers, rather than on an aggregate basis. Nevertheless, a recent amendment to the regulations
promulgated under the Israeli Companies Law requires us to disclose the annual compensation of our five most highly compensated officers
on an individual basis, rather than on an aggregate basis, as was previously permitted for Israeli public companies listed overseas. Under
the Companies Law regulations, this disclosure is required to be included in the annual proxy statement for our annual meeting of shareholders
each year, which we furnish to the SEC under cover of a Report of Foreign Private Issuer on Form 6-K. Because of that disclosure requirement
under Israeli law, we are also including such information in this annual report, pursuant to the disclosure requirements of Form 20-F.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The table below reflects the compensation granted
to our five most highly compensated officers during or with respect to the year ended December 31, 2022. All amounts reported in the table
reflect the cost to our company, as recognized in our financial statements for the year ended December 31, 2022.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>2022 Summary Compensation Table</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="padding-left: 0.125in; text-indent: -0.125in; border-bottom: Black 1.5pt solid; font-weight: bold">Name and Position</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Salary</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt"><b>Equity
Based<br/> Compensation<sup>(2)</sup></b></span></td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt"><b>All
Other<br/>
Compensation<sup>(3)</sup></b></span></td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">400,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,372,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">45,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,817,000</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Arik Faingold, President, Integration Solutions Division</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">433,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">189,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">796,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">1,418,000</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Eli Schwartz, Chief Executive Officer of Comblack I.T. Ltd.</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">411,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">235,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">646,000</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Arik Kilman, Chairman, Software Group</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">581,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">581,000</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Asaf Berenstin, Chief Financial Officer</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">228,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">250,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">70,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">548,000</td><td style="text-align: left">&#160;</td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&#160;</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><div style="font-size: 1pt; border-top: Black 1.5pt solid">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px"><span style="font-size: 10pt">(1)</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Amounts reported in this column represent annual incentive bonuses granted to the covered executives based on performance-metric based formulas set forth in their respective employment agreements.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">(2)</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Amounts reported in this column represent the grant date fair value computed in accordance with accounting guidance for share-based compensation.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">(3)</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Amounts reported in this column include personal benefits and perquisites,
    including those mandated by applicable law. Such benefits and perquisites may include, to the extent applicable to the respective
    covered executive, payments, contributions and/or allocations for savings funds (e.g., Managers Life Insurance Policy), education
    funds (referred to in Hebrew as &#8220;<i>keren hishtalmut</i>&#8221;), pension, severance, vacation, car or car allowance, medical
    insurances and benefits, risk insurance (e.g., life insurance or work disability insurance), telephone expense reimbursement, convalescence
    or recreation pay, relocation reimbursement, payments for social security, and other personal benefits and perquisites consistent
    with our company&#8217;s guidelines. All amounts reported in the table represent incremental cost to our company.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2022, we paid
to each of our outside and independent directors an annual fee of $21,467 and a per-meeting attendance fee of $800. Such fees are paid
based on the fees detailed in a schedule published semi-annually by the Committee for Public Directors under the Israeli Securities Law.
The above compensation excludes stock-based compensation costs in accordance with IFRS 2.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of April 1, 2023, our directors and executive
officers as a group, then consisting of 12 persons, held 190,725 Ordinary Shares and options to purchase an aggregate of 20,000 ordinary
shares, at exercise prices of $0 per share. All such options were granted under our 2007 Incentive Compensation Plan. See Item 6E &#8220;Directors,
Senior Management and Employees - Share Ownership - Stock-Based Compensation Plans.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_023"></a></div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>C.</b></span> <span style="font-size: 10pt; font-variant: small-caps"><b>Board Practices</b></span></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Introduction </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">According to the Israeli Companies Law and our
Articles of Association, the management of our business is vested in our board of directors. The board of directors may exercise all powers
and may take all actions that are not specifically granted to our shareholders. Our executive officers are responsible for our day-to-day
management. The executive officers have individual responsibilities established by our board of directors. Executive officers are appointed
by and serve at the discretion of the board of directors, subject to any applicable agreements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Election of Directors</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our articles of association provide for a board
of directors consisting of no less than three and no more than eleven members or such other number as may be determined from time to time
at a general meeting of shareholders. Our board of directors is currently composed of five directors.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to our articles of association, all of
our directors are elected at our annual general meeting of shareholders, which are required to be held at least once during every calendar
year and not more than 15 months after the last preceding meeting. Except for our external directors (as described below), our directors
are elected by a vote of the holders of a majority of the voting power represented and voting at such meeting and hold office until the
next annual meeting of shareholders following the annual meeting at which they were appointed. Directors (other than external directors)
may be removed earlier from office by resolution passed at a general meeting of our shareholders. Our board of directors may temporarily
fill vacancies in the board until the next annual meeting of shareholders, provided that the total number of directors will not exceed
the maximum number permitted under our articles of association.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the Israeli Companies Law, our board of
directors is required to determine the minimum number of directors who must have &#8220;accounting and financial expertise&#8221; (as
such term is defined in regulations promulgated under the Israeli Companies Law). In determining such number, the board of directors must
consider, among other things, the type and size of the company and the scope of and complexity of its operations. Our board of directors
has determined that at least one director must have &#8220;accounting and financial expertise,&#8221; within the meaning of the regulations
promulgated under the Israeli Companies Law.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>External and Independent Directors</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>External Directors</i></b>. The Israeli
Companies Law requires companies organized under the laws of the State of Israel with shares that have been offered to the public in or
outside of Israel to appoint at least two external directors. No person may be appointed as an external director if the person is a relative
of the controlling shareholder of the company or if the person or the person&#8217;s relative, partner, employer or any entity under the
person&#8217;s control has or had, on or within the two years preceding the date of the person&#8217;s appointment to serve as an external
director, any affiliation with the company or the controlling shareholder of the company or the controlling shareholder&#8217;s relative
or any entity controlled by the company or by the controlling shareholder of the company. If the company does not have a controlling shareholder
or a person or entity which holds 25% of the total voting rights of the company, an external director may also not have an affiliation
with chairman of the board, the chief executive officer, beneficial owner of 5% or more of the issued shares or the voting power of the
company and the most senior executive officer of the company in the finance field. The term &#8220;affiliation&#8221; includes an employment
relationship, a business or professional relationship maintained on a regular basis (other than negligible relationships), control and
service as an &#8220;office holder&#8221; as defined in the Israeli Companies Law, however, &#8220;affiliation&#8221; does not include
service as a director of a private company prior to its first public offering if the director was appointed to such office for the purpose
of serving as an external director following the company&#8217;s first public offering. In addition, no person may serve as an external
director if the person&#8217;s position or other activities create or may create a conflict of interest with the person&#8217;s responsibilities
as an external director or may otherwise interfere with the person&#8217;s ability to serve as an external director. In addition, a director
in a company may not be appointed as an external director in another company if at that time, a director of the other company serves as
an external director in the first company. Moreover, a person may not be appointed as an external director, if he or she is employed by
the Israeli Securities Authority or by Tel-Aviv Stock Exchange. If, at the time external directors are to be appointed, all current members
of the board of directors which are not the controlling shareholders of the company or their relatives are of the same gender, then at
least one external director must be of the other gender.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At least one of the external directors must have
&#8220;accounting and financial expertise&#8221; and the other external directors must have &#8220;professional expertise,&#8221; as such
terms are defined by regulations promulgated under the Israeli Companies Law.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The election of the&#160;nominee for external
director requires the affirmative vote of (i) the majority of the votes actually cast with respect to such proposal including at least
a majority of the voting power of the non-controlling shareholders (as such term is defined in the Israel Securities Law, 1968) or those
shareholders who do not have a personal interest in approval of the nomination except for a personal interest that is not as a result
of the shareholder&#8217;s connections with the controlling shareholder, who are present in person or by proxy and vote on such proposal,
or (ii) the majority of the votes cast on such proposal at the meeting, provided that the total votes cast in opposition to such proposal
by the non-controlling shareholders or those shareholders who do not have a personal interest in approval of the nomination except for
a personal interest that is not as a result of the shareholder&#8217;s connections with the controlling shareholder (as such term is defined
in the Israel Securities Law, 1968) does not exceed 2% of all the voting power in the Company.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">External directors serve for a three-year term.
However, in accordance with the Israeli Companies Law regulations, external directors of a public company whose shares are traded on the
NASDAQ may be appointed for additional periods of three-year each provided that the audit committee and the board of directors have approved
that, given the external director&#8217;s expertise and contribution to the board and committee meetings, such appointment is for the
company&#8217;s benefit and provided further that the nomination to additional periods of three-year terms is approved through one of
the following mechanisms: (i) the board of directors proposed the nominee and his appointment was approved by the shareholders in the
manner required to appoint external directors for their initial term (described above); or (ii) one or more shareholders holding 1% or
more of the voting rights proposed the nominee, and the nominee is approved by the majority of the votes actually cast with respect to
such proposal and all of the following conditions are met: (a) the majority of votes does not include the votes of the controlling shareholder
or votes of shareholders who have a personal interest in approval of the nomination except for a personal interest that is not as a result
of the shareholder&#8217;s connections with the controlling shareholder and (b) the total votes cast in favor of such proposal by the
non-controlling shareholders or those shareholders who do not have a personal interest in the approval of the nomination except for a
personal interest that is not as a result of the shareholder&#8217;s connections with the controlling shareholder exceed 2% of all the
voting power in the company.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">External directors may be removed from office
only by the same percentage of shareholders as is required for their election, or by a court, and then only if the external directors
cease to meet the statutory qualifications for their appointment, violate their duty of loyalty to the company or are found by a court
to be unable to perform his or hers duties on a full time basis. External directors may also be removed by the court if they are found
guilty of bribery, fraud, administrative offenses or use of inside information.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Each committee of the board of directors that
may exercise a responsibility of the board of directors must include at least one external director. The audit committee must be comprised
of at least three directors and include all the external directors. An external director is entitled to compensation as provided in regulations
adopted under the Israeli Companies Law and is otherwise prohibited from receiving any other compensation, directly or indirectly, in
connection with such service.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Until the lapse of two years from termination
of office, we may not engage an external director, or his or her spouse or child to service as an office holder and cannot employ or receive
services from that person, either directly or indirectly, including through a corporation controlled by that person.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Independent Directors</i></b>. NASDAQ Stock
Market Rules require us to establish an audit committee comprised of at least three members and only of independent directors each of
whom satisfies the respective &#8220;independence&#8221; requirements of the SEC and NASDAQ.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the Israeli Companies Law, a director
may be qualified as an independent director if such director is either (i) an external director; or (ii) a director that serves as a board
member less than nine years and the audit committee has approved that he or she meets the independence requirements of an external director.
A majority of the members serving on the audit committee must be independent under the Israeli Companies Law. In addition, an Israeli
company whose shares are publicly traded may elect to adopt a provision in its articles of association pursuant to which a majority of
its board of directors will constitute individuals complying with certain independence criteria prescribed by the Israeli Companies Law.
We have not included such a provision in our articles of association. Pursuant to Israeli regulations adopted in January 2011, directors
who comply with the independence requirements of NASDAQ and the SEC are deemed to comply with the independence requirements of the Israeli
Companies Law.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our board of directors has determined that Mr.
Sagi Schliesser and Mr. Ron Ettlinger&#160;both qualify as independent directors under the SEC and NASDAQ requirements and as external
directors under the Israeli Companies Law requirements. Our board of directors has further determined that Mr. Avi Zakay qualifies as
an independent director under the SEC, NASDAQ and Israeli Companies Law requirements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Committees of the Board of Directors </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Audit Committee</i></b>. Our audit committee,
established in accordance with Sections 114-117 of the Israeli Companies Law and Section 3(a)(58)(A) of the Securities Exchange Act of
1934, assists our board of directors in overseeing the accounting and financial reporting processes of our company and audits of our financial
statements, including the integrity of our financial statements, compliance with legal and regulatory requirements, our independent public
accountants&#8217; qualifications and independence, the performance of our internal audit function and independent public accountants,
finding any irregularities in the business management of our company for which purpose the audit committee may consult with our independent
auditors and internal auditor, proposing to the board of directors ways to correct such irregularities and such other duties as may be
directed by our board of directors. The responsibilities of the audit committee also include approving related-party transactions as required
by law. The audit committee is also required to determine whether any action is material and whether any transaction is an extraordinary
transaction or non-negligible transaction, for the purpose of approving such action or transaction as required by the Israeli Companies
Law. Under Israeli law, an audit committee may not approve an action or a transaction with a controlling shareholder, or with an office
holder, unless at the time of approval two external directors are serving as members of the audit committee and at least one of the external
directors was present at the meeting in which an approval was granted.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our audit committee is currently composed of Messrs.
Ettlinger, Schliesser&#160;and Zakay, each of whom satisfies the &#8220;independence&#8221; requirements of both the SEC and NASDAQ. We
also comply with Israeli law requirements for audit committee members. Our board of directors has determined that Mr. Ettlinger qualifies
as a financial expert. The audit committee meets at least once each quarter.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Compensation Committee</i></b><i>. </i>In
accordance with the Israeli Companies Law, we have a compensation committee, whose role is to: (i) recommend a compensation policy for
office holders and to recommend to the board, once every three years, on the approval of the continued validity of the compensation policy
that was determined for a period exceeding three years; (ii) recommend an update the compensation policy from time to time and to examine
its implementation; (iii) determine whether to approve the terms of service and employment of office holders that require the committee&#8217;s
approval; and (iv) exempt a transaction from the requirement of shareholders&#8217; approval in accordance with the provisions of the
Israeli companies Law. The compensation committee also has oversight authority over the actual terms of employment of directors and officers
and may make recommendations to the board of directors and the shareholders (where applicable) with respect to deviation from the compensation
policy that was adopted by the company.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the Israeli Companies Law, a compensation
committee must consist of no less than three members, including all of the external directors (who must constitute a majority of the members
of the committee), and the remainder of the members of the compensation committee must be directors whose terms of service and employment
were determined pursuant to the applicable regulations. The same restrictions on the actions and membership in the audit committee as
discussed above under &#8220;Audit Committee,&#8221; including the requirement that an external director serve as the chairman of the
committee and the list of persons who may not serve on the committee, also apply to the compensation committee. We have established a
compensation committee that is currently composed of Messrs. Ettlinger, Schliesser&#160;and Zakay.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Internal Auditor</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Israeli Companies Law also requires the board
of directors of a public company to appoint an internal auditor proposed by the audit committee. A person who does not satisfy the Israeli
Companies Law&#8217;s independence requirements may not be appointed as an internal auditor.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The role of the internal auditor is to examine,
among other things, the compliance of the company&#8217;s conduct with applicable law and orderly business practice. Our internal auditor
complies with the requirements of the Israeli Companies Law. Alkalay Monarov currently serves as our internal auditor.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Directors&#8217; Service Contracts </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There are no arrangements or understandings between
us and any of our subsidiaries, on the one hand, and any of our directors, on the other hand, providing for benefits upon termination
of their employment or service as directors of our company or any of our subsidiaries.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Approval of Related Party Transactions Under
Israeli Law </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Fiduciary Duties of Office Holders</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Israeli Companies Law codifies the fiduciary
duties that &#8220;office holders,&#8221; including directors and executive officers, owe to a company. An &#8220;office holder&#8221;
is defined in the Israeli Companies Law as a chief executive officer, chief business manager, deputy general manager, vice general manager,
any other person assuming the responsibilities of any of the foregoing positions without regard to such person&#8217;s title or a director
or any other manager directly subordinate to the general manager. An office holder&#8217;s fiduciary duties consist of a duty of care
and a duty of loyalty. The duty of care requires an office holder to act at a level of care that a reasonable office holder in the same
position would employ under the same circumstances. This includes the duty to utilize reasonable means to obtain (i) information regarding
the appropriateness of a given action brought for his approval or performed by him by virtue of his position and (ii) all other information
of importance pertaining to the foregoing actions. The duty of loyalty includes (i) avoiding any conflict of interest between the office
holder&#8217;s position in the company and any other position he holds or his personal affairs, (ii) avoiding any competition with the
company&#8217;s business, (iii) avoiding exploiting any business opportunity of the company in order to receive personal gain for the
office holder or others, and (iv) disclosing to the company any information or documents relating to the company&#8217;s affairs that
the office holder has received due to his position as an office holder.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Disclosure of Personal Interests of an Office
Holder </i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Israeli Companies Law requires that an office
holder promptly, and no later than the first board meeting at which such transaction is considered, disclose any personal interest that
he or she may have and all related material information known to him or her and any documents in their position, in connection with any
existing or proposed transaction by us. In addition, if the transaction is an extraordinary transaction, that is, a transaction other
than in the ordinary course of business, other than on market terms, or likely to have a material impact on the company&#8217;s profitability,
assets or liabilities, the office holder must also disclose any personal interest held by the office holder&#8217;s spouse, siblings,
parents, grandparents, descendants, spouse&#8217;s descendants and the spouses of any of the foregoing, or by any corporation in which
the office holder or a relative is a 5% or greater shareholder, director or general manager or in which he or she has the right to appoint
at least one director or the general manager.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Approval of Transactions with Office Holders
and Controlling Shareholders</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Some transactions, actions and arrangements involving
an office holder (or a third party in which an office holder has a personal interest) must be approved by the board of directors and,
in some cases, by the audit committee or the compensation committee and by the board of directors, and under certain circumstances shareholder
approval may also be required, provided, however, that such transactions are for the benefit of the company. Subject to certain exceptions.
A person who has a personal interest in the approval of a transaction by the audit committee or the Board may not be present and take
part in the voting. An officer or a director who has a personal interest, may be present at the meeting for the purpose of presenting
the transaction if the chairman of the audit committee or the Board, as relevant, has determined that the presence of the officer or director
is required. A director may be present and vote at the meetings of the audit committee and Board if the majority of the directors have
a personal interest in the approval of the transaction. In such case, the transaction also requires approval by the general meeting. The
disclosure requirements which apply to an office holder also apply to such transaction with respect to his or her personal interest in
the transaction.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Companies Law provides for certain procedural
constraints on a public company entering into a transaction in which a controlling shareholder and other interested parties have a personal
interest. More specifically, Section 275 of the Companies Law provides that an extraordinary transaction (which is defined as a transaction
that is either not in a company&#8217;s ordinary course of business; or a transaction that is not undertaken in market conditions; or
a transaction that is likely to substantially influence the profitability of a company, its property or liabilities) between a public
company and its controlling shareholder, or an extraordinary transaction of a public company with a third party in which the controlling
shareholder has a personal interest, including a transaction of a public company with a controlling shareholder, directly or indirectly,
for the receipt of services therefrom (and including a transaction concerning the compensation arrangement of a controlling shareholder
in its capacity as an employee or office holder of the company) (a &#8220;Controlling Party Transaction&#8221;), requires the approval
of the audit committee (and with respect to a transaction concerning the compensation arrangement &#8211; the compensation committee),
the board of directors and the general meeting of shareholders, provided however that the majority approving the transaction shall include
at least one half of the votes of shareholders who do not have a personal interest in the transaction and are participating in the vote,
or that the aggregate number of votes against the approval of the transaction, voted by shareholders who do not have such personal interest
do not exceed 2% of the entire voting rights in the company. Section 275 of the Companies Law further provides that if the term of the
Controlling Party Transaction extends beyond three years, the above approvals are required once every three years. However, if such transaction
does not relate to a compensation arrangement, then the audit committee may approve the transaction for a longer duration, provided that
the audit committee determines that such duration is reasonable under the circumstances. In accordance with the Israeli Companies law
the audit committee is responsible to determine that Controlling Party Transactions shall be subject to a competitive procedure or other
similar procedure before such transactions are approved.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2022, we sold
approximately $6.9 million of services to affiliated companies of Formula Systems. In 2022, we also purchased from those affiliated companies
approximately $3.1 million of hardware, software and services. We also provided Formula Systems cash management, accounting and bookkeeping
services for total consideration of $0.2 million.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Approval Process of Terms of Service and
Employment of Office Holders</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the Israeli Companies Law, the method of
approval of Terms of Service and Employment of office holders must be approved as follows:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">With respect to an office holder who is not the general manager, a director, a controlling shareholder or a relative of the controlling shareholder:</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">In the event the transaction is in accordance with the compensation policy of the company &#8211; approval (in the following order) of: (i) compensation committee and (ii) board of directors.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">In the event the transaction is not in accordance with the compensation policy of the company &#8211; approval, in special cases (in the following order), by the (i) compensation committee, (ii) board of directors and (iii) company&#8217;s shareholders, by a simple majority, provided that such majority shall include (i) at least one half of the votes of shareholders who are participating in the vote and are not controlling shareholders or do not have a personal interest regarding the approval of the compensation policy, or (ii) the aggregate number of the opposing votes, voted by shareholders who do not have such personal interest or are not controlling shareholders, do not exceed two percent (2%) of the entire voting rights in the company (the &#8220;<b>Special Majority</b>&#8221;). Under these circumstances, the compensation committee and board of directors are required to approve the transaction based on certain considerations and include certain instructions in connection with the compensation policy. In the event the company&#8217;s shareholders do not approve the compensation of the office holder, the compensation committee and board of directors may still approve the transaction, in special cases and with detailed reasons and after discussion and examining the rejection of the company&#8217;s shareholders.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">With respect to a company&#8217;s general manager (generally the equivalent of a CEO):</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">In the event the transaction is in accordance with the compensation policy - approval (in the following order) by the: (i) compensation committee, (ii) board of directors and (iii) company&#8217;s shareholders with the &#8220;Special Majority&#8221; described above.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">In the event the transaction is not in accordance with the compensation policy &#8211; the approval process and requirements are the same as the approval process for such a transaction with an office holder who is not the general manager, a controlling shareholder or a relative of the controlling shareholder. </span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">The Israeli Companies Law includes an exception from the shareholder approval requirement in connection with the approval of a transaction with a general manager candidate, subject to certain conditions. In addition, in the event the company&#8217;s shareholders do not approve the compensation of the general manager, the compensation committee and board of directors may still approve the transaction, in special cases and with detailed reasons and after discussion and examining the rejection of the company&#8217;s shareholders.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">With respect to a director who is not a controlling shareholder or a relative of the controlling shareholder:</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">In the event the transaction is in accordance with the compensation policy &#8211; approval (in the following order) by the: (i) compensation committee, (ii) board of directors and (iii) company&#8217;s shareholders with a regular majority.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">In the event the transaction is not in accordance with the compensation policy &#8211; the approval process and requirements are the same as the approval process for such a transaction with an office holder who is not the general manager, a controlling shareholder or a relative of the controlling shareholder (other than the possibility to approve a transaction that was not approved by the shareholders). </span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">With respect to a controlling shareholder or a relative of a controlling shareholder:</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">In the event the transaction is in accordance with the compensation policy - approval (in the following order) by the: (i) compensation committee, (ii) board of directors and (iii) company&#8217;s shareholders with the &#8220;Special Majority&#8221; described above.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">In the event the transaction is not in accordance with the compensation policy: the approval process and requirements are the same as the approval process for such a transaction with an office holder who is not the general manager, a controlling shareholder or a relative of the controlling shareholder (other than the possibility to approve a transaction that was not approved by the shareholders).</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In accordance with the Israeli Companies Law,
the audit committee is responsible to determine that Controlling Party Transactions shall be subject to a competitive procedure or other
similar procedure before such transactions are approved.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our latest amended compensation policy was adopted
on February 25, 2022.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Provisions Restricting Change in Control of
Our Company </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Tender Offer</i></b>. In certain circumstances,
an acquisition of shares in a public company must be made by means of a tender offer if, as a result of the acquisition, the purchaser
would hold 25% or more of the voting rights in the company (unless there is already a 25% or greater shareholder of the company) or more
than 45% of the voting rights in the company (unless there is already a shareholder that holds more than 45% of the voting rights in the
company). If, as a result of an acquisition, the acquirer would hold more than 90% of a company&#8217;s shares or voting rights, the acquisition
must be made by means of a tender offer for all of the shares. A purchase by a tender offer is subject to additional requirements as specified
in the Israeli Law and regulations promulgated thereunder.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Merger</i></b>. The Israeli Companies Law
generally requires that a merger be approved by the board of directors and by the general meeting of the shareholders. Upon the request
of any creditor of a merging company, a court may delay or prevent the merger if it concludes that there is a reasonable concern that,
as a result of the merger, the surviving company will be unable to satisfy its obligations. In addition, a merger may generally not be
completed unless at least (i) 50 days have passed since the filing of the merger proposal with the Israeli Registrar of Companies, and
(ii) 30 days have passed since the merger was approved by the shareholders of each of the merging companies. The approval of merger by
the company is also subject to additional approval requirements as specified in the Israeli Companies Law and regulations promulgated
thereunder.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Exculpation, Indemnification and Insurance
of Directors and Officers </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Exculpation and Indemnification of Office
Holders</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Israeli Companies Law and our Articles of
Association authorize us, subject to the receipt of requisite corporate approvals, to indemnify and exempt our directors and officers,
subject to certain conditions and limitations. Most recently, in November 2011 our shareholders approved a form of indemnification and
exculpation letter to ensure that our directors and officers (including any director and officer who may be deemed to be a controlling
shareholder, within the meaning of the Israeli Companies Law) are afforded protection to the fullest extent permitted by law as currently
in effect. Under the approved form of indemnification and exculpation letter, the total amount of indemnification allowed may not exceed
an amount equal to 25% of our shareholders&#8217; equity in the aggregate, calculated with respect to each of our directors and officers.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Israeli Companies Law provides that an Israeli
company may not exculpate an office holder from liability for a breach of the duty of loyalty of the office holder. The company may, however,
approve an office holder&#8217;s act performed in breach of the duty of loyalty, provided that the office holder acted in good faith,
the act or its approval does not harm the company and the office holder discloses the nature of his or her personal interest in the act
and all material facts and documents a reasonable time before discussion of the approval. An Israeli company may exculpate an office holder
in advance from liability to the company, in whole or in part, for a breach of duty of care, but only if a provision authorizing such
exculpation is inserted in its articles of association. An Israeli company may also not exculpate a director for liability arising out
of a prohibited dividend or distribution to shareholders.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Israeli Companies Law provides that a company
may, if permitted by its articles of association, indemnify an office holder for acts or omissions performed by the office holder in such
capacity for:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">A financial liability imposed on the office holder in favor of another person by any judgment, including a settlement or an arbitrator&#8217;s award approved by a court;</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Reasonable litigation expenses, including attorney&#8217;s fees, actually incurred by the office holder as a result of an investigation or proceeding instituted against him or her by a competent authority, provided that such investigation or proceeding concluded without the filing of an indictment against the office holder or the imposition of any financial liability instead of criminal proceedings, or concluded without the filing of an indictment against the office holder and a financial liability was imposed on the officer holder instead of criminal proceedings with respect to a criminal offense that does not require proof of criminal intent;</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Reasonable litigation expenses, including attorneys&#8217; fees, incurred by such office holder or which were imposed on him by a court, in proceedings the company instituted against the office holder or that were instituted on the company&#8217;s behalf or by another person, or in a criminal charge from which the office holder was acquitted, or in a criminal proceeding in which the office holder was convicted of a crime which does not require proof of criminal intent; and</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 88; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->80<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Expenses, including reasonable litigation expenses and legal fees, incurred by such office holder as a result of a proceeding instituted against him in relation to (A) infringements that may result in imposition of financial sanction pursuant to the provisions of Chapter H&#8217;3 under the Israeli Securities Law or (B) administrative infringements pursuant to the provisions of Chapter H&#8217;4 under the Israeli Securities Law or (C) infringements pursuant to the provisions of Chapter I&#8217;1 under the Israeli Securities Law; and (e) payments to an injured party of infringement under Section 52ND(a)(1)(a) of the Israeli Securities Law.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In accordance with the Israeli Companies Law,
a company&#8217;s articles of association may permit the company to:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Undertake in advance to indemnify an office holder, except that with respect to a financial liability imposed on the office holder by any judgment, settlement or court-approved arbitration award, the undertaking must be limited to types of occurrences, which, in the opinion of the company&#8217;s board of directors, are, at the time of the undertaking, foreseeable due to the company&#8217;s activities and to an amount or standard that the board of directors has determined is reasonable under the circumstances; and</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Retroactively indemnify an office holder of the company.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Insurance for Office Holders</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Israeli Companies Law provides that a company
may, if permitted by its articles of association, insure an office holder for acts or omissions performed by the office holder in such
capacity for:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px">&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subject to the provisions of the Israeli Companies
Law and the Israeli Securities Law, a company may also enter into a contract to insure an office holder for (A) expenses, including reasonable
litigation expenses and legal fees, incurred by the office holder as a result of a proceeding instituted against such office holder in
relation to (1) infringements that may impose financial sanction pursuant to the provisions of Chapter H&#8217;3 under the Israeli Securities
Law or (2) administrative infringements pursuant to the provisions of Chapter H&#8217;4 under the Israeli Securities Law or (3) infringements
pursuant to the provisions of Chapter I&#8217;1 under the Israeli Securities Law and (B) payments made to the injured parties of such
infringement under Section 52ND(a)(1)(a) of the Israeli Securities Law.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Limitations on Exculpation, Insurance and
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Israeli Companies Law provides that neither
a provision of the articles of association permitting the company to enter into a contract to insure the liability of an office holder,
nor a provision in the articles of association or a resolution of the board of directors permitting the indemnification of an office holder,
nor a provision in the articles of association exempting an office holder from duty to the company shall be valid, where such insurance,
indemnification or exemption relates to any of the following:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 24px">&#160;</td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 89; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->81<!-- Field: /Sequence --></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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Law, exemption of, procurement of insurance coverage for, an undertaking to indemnify or indemnification of an office holder must be approved
by the compensation committee and the board of directors and, if such office holder is a director or a controlling shareholder or a relative
of the controlling shareholder, also by the shareholders general meeting.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our articles of association allow us to insure,
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 25, 2021, our shareholders approved
that the coverage of our directors&#8217; and officers&#8217; liability insurance policy will be up to a maximum amount of $60,000,000,
both per claim and in the aggregate, plus up to $10,000,000 of Side A Difference in Conditions coverage. In addition, it was approved
that we may pay an annual premium not exceeding $2,000,000 per year (which may be increased by no more than 20% per year), and that any
renewal, extension or replacement thereof will be on terms substantially similar to or better (from the perspective of the directors and
officers) than those of the then-effective insurance policy.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Board Diversity</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">While we do not have a formal policy on diversity,
our Board considers diversity to include the skill set, background, reputation, type and length of business experience of our board members,
as well as a particular nominee&#8217;s contribution to that mix. Although there are many other factors, the Board seeks individuals with
experience in our industry, sales and marketing, legal and accounting skills and board experience.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Board Diversity Matrix (as of March 31, 2023) </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: White">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><!-- Field: Page; Sequence: 90; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->82<!-- Field: /Sequence --></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_024"></a></div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>D.</b></span> <span style="font-size: 10pt; font-variant: small-caps"><b>Employees</b></span></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table presents the number of our
employees categorized by geographic location as of December 31, 2020, 2021 and 2022:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table presents the number of our
employees categorized by activity as of December 31, 2020, 2021 and 2022:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; text-align: left">Technical support and consulting</td><td style="width: 1%">&#160;</td>
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    <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,513</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt">&#160;</td>
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  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We consider our employees the most valuable asset
of our company. We offer competitive compensation and comprehensive benefits to attract and retain our employees. The remuneration and
rewards include retention through share-based compensation and performance-based bonuses.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We believe that an engaged workforce is key to
maintaining our ability to innovate. We have steadily increased our workforce and have been successful in integrating our new employees
and keeping our employees engaged. Investing in our employees&#8217; career growth and development is an important focus for us. We offer
learning opportunities and training programs including workshops, guest speakers and various conferences to enable our employees to advance
in their chosen professional paths.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 91; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->83<!-- Field: /Sequence --></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our relationships with our employees in Israel
are governed by Israeli labor legislation and regulations, extension orders of the Israeli Ministry of Labor and personal employment
agreements. Israeli labor laws and regulations are applicable to all of our employees in Israel. The laws concern various matters, including
severance pay rights at termination, notice period for termination, retirement or death, length of workday and workweek, minimum wage,
overtime payments and insurance for work-related accidents. We currently fund our ongoing legal severance pay obligations by paying monthly
premiums for our employees&#8217; insurance policies and or pension funds. At the time of commencement of employment, our employees generally
sign written employment agreements specifying basic terms and conditions of employment as well as non-disclosure, confidentiality and
non-compete provisions.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_025"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>E.
<span style="font-variant: small-caps">Share Ownership</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Beneficial Ownership of Executive Officers
and Directors</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth certain information
as of April 1, 2023 regarding the beneficial ownership by each of our directors and executive officers:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
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    Ownership&#160;<sup>(2)</sup></b></span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Asaf Berenstin</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="font-size: 10pt">*</span></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Ron Ettlinger</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">--</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">--</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Naamit Salomon</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">--</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">--</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Sagi Schliesser</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">--</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">--</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Avi Zakay</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">--</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">--</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Arik Faingold</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">--</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">--</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Yuval Baruch</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">--</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">--</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Arik Kilman</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">--</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">--</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Yakov Tsaroya</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2,500</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="font-size: 10pt">*</span></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Yuval Lavi</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">--</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">--</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Yael Ilan</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">--</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">--</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Hanan Shahaf</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">--</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">--</td><td style="text-align: left">&#160;</td></tr>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><!-- Field: Rule-Page --><div style="width: 25%"><div style="font-size: 1pt; border-top: Black 1.5pt solid">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">*</span></td><td style="text-align: justify"><span style="font-size: 10pt">Less
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</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">(1)</span></td><td style="text-align: justify"><span style="font-size: 10pt">Beneficial
                                            ownership is determined in accordance with the rules of the SEC and generally includes voting
                                            or investment power with respect to securities. Ordinary Shares relating to options currently
                                            exercisable or exercisable within 60 days of the date of this table are deemed outstanding
                                            for computing the percentage of the person holding such securities but are not deemed outstanding
                                            for computing the percentage of any other person. Except as indicated by footnote, and subject
                                            to community property laws where applicable, the persons named in the table above have sole
                                            voting and investment power with respect to all shares shown as beneficially owned by them.</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">(2)</span></td><td style="text-align: justify"><span style="font-size: 10pt">The
                                            percentages shown are based on 49,093,055 Ordinary Shares issued and outstanding as of April
                                            1, 2023.</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->84<!-- Field: /Sequence --></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Stock-Based Compensation Plans </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>2007 Incentive Compensation Plan</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In 2007, we adopted our 2007 Incentive Compensation
Plan, or the 2007 Plan, under which we may grant options, restricted shares, restricted share units and performance awards to employees,
officers, directors and consultants of our company and its subsidiaries. The shares subject to the 2007 Plan may be either authorized
or unissued shares or previously issued shares acquired by our company or any of its subsidiaries. The total number of shares that may
be delivered pursuant to awards under the 2007 Plan shall not exceed 1,500,000 shares in the aggregate. If any award shall expire, terminate,
be cancelled or forfeited without having been fully exercised or satisfied by the issuance of shares, then the shares subject to such
award shall be available again for delivery in connection with future awards under the 2007 Plan.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In September 2013, our shareholders approved
a 1,000,000 share increase in the number of Ordinary Shares available for issuance under the 2007 Stock Option Plan.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 31, 2015 our board of directors increased
the amount of Ordinary Shares reserved for issuance by an additional 250,000 Ordinary Shares and extended the plan by 10 years until
August 1, 2027. As of December 31, 2022, an aggregate of 952,500 Ordinary Shares are available for future grants under the Plan.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The 2007 Plan will terminate upon the earliest
of: (i) August 31, 2027; (ii) the termination of all outstanding awards in connection with a corporate transaction; or (iii) in connection
with, and as a result of, any other relevant event, including the 2007 Plan&#8217;s termination by the Board of Directors.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the 2007 Plan, the option committee shall
have full discretionary authority to grant or, when so restricted by applicable law, recommend the Board of Directors to grant, pursuant
to the terms of the 2007 Plan, options and restricted shares and restricted share units to those individuals who are eligible to receive
awards.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The 2007 Plan provides that each option will
expire on the date stated in the award agreement, which will not be more than ten years from its date of grant. The exercise price of
an option shall be determined by the option committee of the Board of Directors and set forth in the award agreement. Unless determined
otherwise by the Board of Directors, the exercise price shall be equal to, or higher than, the fair market value of our company&#8217;s
shares on the date of grant.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the 2007 Plan, restricted shares and restricted
share units shall not be purchased for less than the ordinary share&#8217;s par value, unless determined otherwise by the Board of Directors.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the 2007 Plan in the event of any reclassification,
recapitalization, merger or consolidation, reorganization, stock dividend, cash dividend, distribution of subscription rights or other
distribution in securities of the Company, stock split or reverse stock split, combination or exchange of shares, repurchase of shares,
or other similar change in corporate structure, that proportionally apply to all of our Ordinary Shares, we, shall substitute or adjust,
as applicable, the number, class and kind of securities which may be delivered under Section 4.1; the number, class and kind, and/or
price (such as the Option Price of Options) of securities subject to outstanding awards; and other value determinations applicable to
outstanding awards, as determined by our Board of Directors, in order to prevent dilution or enlargement of participants&#8217; rights
under the 2007 Plan; provided, however, that the number of Ordinary Shares subject to any award shall always be a whole number. The Board
of Directors shall also make appropriate adjustments and modifications, in the terms of any outstanding awards to reflect such changes
in our share capital, including modifications of performance goals and changes in the length of performance periods, if applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our Board of Directors may, from time to time,
alter, amend, suspend or terminate the 2007 Plan, with respect to awards that have not been granted, subject to shareholder approval,
if and to the extent required by applicable law. In addition, no such amendment, alteration, suspension or termination of the 2007 Plan
or any award theretofore granted, shall be made which would materially impair the previously accrued rights of a participant under any
outstanding award without the written consent of such participant, provided, however, that the Board of Directors may amend or alter
the 2007 Plan and the option committee may amend or alter any award, including any agreement, either retroactively or prospectively,
without the consent of the applicable participant, (i) so as to preserve or come within any exemptions from liability under any law or
the rules and releases promulgated by the SEC, or (ii) if the Board of Directors or the option committee determines in its discretion
that such amendment or alteration either is (a) required or advisable for us, the 2007 Plan or the award to satisfy, comply with or meet
the requirements of any law, regulation, rule or accounting standard, or (b) not reasonably likely to significantly diminish the benefits
provided under such award, or that such diminishment has been or will be adequately compensated.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During 2022, options to purchase an aggregate
of 20,000 Ordinary Shares were exercised under the 2007 Plan at an average exercise price of $0 per share, and 20,000 options were forfeited.
Moreover, 26,250 options to purchase Ordinary Shares remained outstanding. As of December 31, 2022, our executive officers and directors
as a group, consisting of 13 persons, held 190,725 Ordinary Shares.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_026"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>F.
<span style="font-variant: small-caps"><span style="text-decoration:underline">Disclosure of a registrant&#8217;s action to recover erroneously awarded compensation</span></span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 93; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->85<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="m_027"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>ITEM
7. <span style="text-decoration:underline">MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="m_028"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>A.
<span style="font-variant: small-caps">Major Shareholders</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of April 1, 2023, Formula Systems, an Israeli
company traded on the NASDAQ Global Select Market and the TASE, held 22,710,106 or 46.26% of our outstanding Ordinary Shares. Formula
Systems is controlled by Asseco, a Polish company listed on the Warsaw Stock Exchange, which held as of April 1, 2023 approximately 25.82%
of the Ordinary Shares of Formula Systems. Based on the foregoing beneficial ownership by each of Formula and Asseco, each of Formula
and Asseco may be deemed to directly or indirectly (as appropriate) control us.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth as of December
31, 2022 certain information regarding the beneficial ownership by all shareholders known to us to own beneficially 5.0% or more of our
ordinary shares:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="white-space: nowrap; font-weight: bold; border-bottom: Black 1.5pt solid">Name</td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 10pt"><b>Number
    of<br/> Ordinary<br/> Shares<br/> Beneficially<br/> Owned<sup>(1)</sup></b></span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 10pt"><b>Percentage&#160;of<br/>
    Ownership<sup>(2)</sup></b></span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%; text-align: left"><span style="font-size: 10pt">Formula Systems (1985) Ltd. <sup>(3)</sup></span></td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">22,710,106</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">46.30</td><td style="width: 1%; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-size: 10pt">Harel Insurance <sup>(4)</sup></span></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">4,627,166</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">9.40</td><td style="text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-size: 10pt">Clal Insurance Enterprises Holdings Ltd. <sup>(5)</sup></span></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">3,420,060</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">7.00</td><td style="text-align: left">%</td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><!-- Field: Rule-Page --><div style="width: 25%"><div style="font-size: 1pt; border-top: Black 1.5pt solid">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">(1)</span></td><td style="text-align: justify"><span style="font-size: 10pt">Beneficial
                                            ownership is determined in accordance with the rules of the SEC and generally includes voting
                                            or investment power with respect to securities. Ordinary Shares relating to options currently
                                            exercisable or exercisable within 60 days of the date of this table are deemed outstanding
                                            for computing the percentage of the person holding such securities but are not deemed outstanding
                                            for computing the percentage of any other person. Except as indicated by footnote, and subject
                                            to community property laws where applicable, the persons named in the table above have sole
                                            voting and investment power with respect to all shares shown as beneficially owned by them.</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 0.25in"><span style="font-size: 10pt">(2)</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">The percentages shown are based on 49,093,055 Ordinary Shares issued
    and outstanding as of December 31, 2022.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 0.25in"><span style="font-size: 10pt">(3)</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">As of April 1, 2023, Asseco owns 25.82% of the outstanding shares of
    Formula. As such, Asseco may be deemed to be the beneficial owner of the aggregate 22,710,106 Ordinary Shares held directly by Formula
    Systems. The address of Asseco is 35-322 Rzeszow, ul. Olchowa 14, Poland.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 0.25in"><span style="font-size: 10pt">(4)</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Based on a Schedule 13G amendment filed on January 17, 2023, Harel
    Insurance Investments &amp; Financial Services Ltd., an Israeli public company, with a principal business address at Harel House;
    3 Aba Hillel Street; Ramat Gan 52118, Israel (or &#8220;Harel&#8221;). &#160;</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">(5)</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Based on a Schedule 13G amendment filed on February 17, 2023, by Clal
    Insurance Enterprises Holdings Ltd. (or &#8220;Clal&#8221;). Clal is an Israeli public company, with a principal business address
    at 36 Raul Wallenberg St., Tel Aviv 66180, Israel.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Significant Changes in the Ownership of Major
Shareholders</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Formula filed a Schedule 13D amendment on May
23, 2022 reflecting that it had purchased an aggregate of 629,638 Ordinary Shares in open market transactions, for an aggregate purchase
price of $8,978,481, as a result of which Formula&#8217;s beneficial ownership percentage of the outstanding Ordinary Shares has increased
from 45.3% to 46.3%.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Based on a Schedule 13G amendment filed on ,
on January 23, 2020, Harel Insurance Investments &amp; Financial Services Ltd. held 3,622,378or 7.4% of our Ordinary Shares. A Schedule
13G amendment filed with the SEC on January 27, 2021, reflected ownership of 4,835,262, or 9.86% of our Ordinary Shares. A Schedule 13G
amendment filed with the SEC on January 31, 2022, reflected ownership of 4,595,281, or 9.37% of our Ordinary Shares. A Schedule 13G amendment
filed with the SEC on January 17, 2023, reflected ownership of 4,627,166, or 9.4% of our Ordinary Shares.</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->86<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Clal filed a Schedule 13G/A filed with the SEC
on February 10, 2020, reflected an ownership of 4,144,717, or 8.5% of our Ordinary Shares. A Schedule 13G/A filed with the SEC on February
16, 2021, reflected an ownership of 3,765,068, or 7.68% of our Ordinary Shares. A Schedule 13G/A filed with the SEC on February 10, 2022,
reflected an ownership of 3,681,659, or 7.51% of our Ordinary Shares. A Schedule 13G/A filed with the SEC on February 13, 2023, reflected
a decrease in ownership to 3,420,060, or 7% of our Ordinary Shares.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Major Shareholders Voting Rights</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our major shareholders do not have different
voting rights.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Record Holders </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Based on a review of the information provided
to us by our U.S. transfer agent, as of May 10, 2023, there were 48 record holders, of which 37 record holders holding approximately 96.6%
of our Ordinary Shares had registered addresses in the United States. These numbers are not representative of the number of beneficial
holders of our shares nor are they representative of where such beneficial holders reside, since many of these Ordinary Shares were held
of record by brokers or other nominees (including one U.S. nominee company, CEDE &amp; Co., which held approximately 96.5% of our outstanding
Ordinary Shares as of such date).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_029"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>B.
<span style="font-variant: small-caps">Related Party Transactions</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For information about related party transactions
see &#8220;Item 6C. Directors, Senior Management and Employees &#8211; Board Practices - Approval of Related Party Transactions Under
Israeli Law.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_030"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>C.
<span style="font-variant: small-caps">Interests of Experts and Counsel</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Not applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_031"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>ITEM
8. <span style="text-decoration:underline">FINANCIAL INFORMATION</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="m_032"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>A.
<span style="font-variant: small-caps">Consolidated Statements and Other Financial Information</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">See the consolidated financial statements, including
the notes thereto, included in Item 18.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Legal Proceedings</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We and our subsidiaries are, from time to time,
subject to legal, administrative and regulatory proceedings, claims, demands and investigations in the ordinary course of business, including
claims with respect to intellectual property, contracts, employment and other matters. Based upon the advice of counsel, we do not believe
that the ultimate resolution of these matters will materially affect our consolidated financial position, results of operations or cash
flows.</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 95; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->87<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Dividend Distribution Policy</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In September 2012, our Board of Directors adopted
a policy for distributing dividends, under which we will distribute a dividend of up to 50% of our annual net income attributable to
our shareholders each year, subject to any applicable law. On August 2019, our Board of Directors amended our dividend distribution policy,
whereas, each year we will distribute a dividend of up to 75% of our annual net income attributable to our shareholders. It is possible
that our Board of Directors will decide, subject to the conditions stated above, to declare additional dividend distributions. Our Board
of Directors may at its discretion and at any time, change, whether as a result of a one-time decision or a change in policy, the rate
of dividend distributions or not to distribute a dividend.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">According to the Israeli Companies Law, a registrant
may distribute dividends out of its profits provided that there is no reasonable concern that such dividend distribution will prevent
the company from paying all its current and foreseeable obligations, as they become due. Notwithstanding the foregoing, dividends may
be paid with the approval of a court, provided that there is no reasonable concern that such dividend distribution will prevent the company
from satisfying its current and foreseeable obligations, as they become due. Profits, for purposes of the Israeli Companies Law, means
the greater of retained earnings or earnings accumulated during the preceding two years, after deducting previous distributions that
were not deducted from the surpluses.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_033"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>B.
<span style="font-variant: small-caps">Significant Changes</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Except as otherwise disclosed in this annual
report, no significant change has occurred since December 31, 2022.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_034"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>ITEM
9. <span style="text-decoration:underline">THE OFFER AND LISTING</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="m_035"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>A.
<span style="font-variant: small-caps">Offer and Listing Details</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.5in; text-align: justify; text-indent: 0.5in">Our ordinary shares are traded
on the NASDAQ Global Select Market under the ticker symbol &#8220;MGIC&#8221;.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_036"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>B.
<span style="font-variant: small-caps">Plan of Distribution</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.5in; text-align: justify; text-indent: 0.5in">Not applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_037"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>C.
<span style="font-variant: small-caps">Markets</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our Ordinary Shares are listed on the NASDAQ
Global Select Market (symbol: MGIC)Our Ordinary Shares have also traded on the TASE, and are included in the TASE&#8217;s TA-125 Index.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_038"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>D.
<span style="font-variant: small-caps">Selling Shareholders</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.5in; text-align: justify; text-indent: 0.5in">Not applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_039"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>E.
<span style="font-variant: small-caps">Dilution</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.5in; text-align: justify; text-indent: 0.5in">Not applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_040"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>F.
<span style="font-variant: small-caps">Expenses of the Issue</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.5in; text-align: justify; text-indent: 0.5in">Not applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->88<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="m_041"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>ITEM
10. <span style="text-decoration:underline">ADDITIONAL INFORMATION</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="m_042"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>A.
<span style="font-variant: small-caps">Share Capital</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.5in; text-align: justify; text-indent: 0.5in">Not applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_043"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>B.
<span style="font-variant: small-caps">Memorandum and Articles of Association</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Set out below is a description of certain provisions
of our Articles of Association and of the Israeli Companies Law related to such provisions. This description is only a summary and does
not purport to be complete and is qualified by reference to the full text of the Articles of Association, which are incorporated by reference
as an exhibit to this Annual Report.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Purposes and Objects of the Company</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are a public company registered with the Israeli
Companies Registry as Magic Software Enterprises Ltd., registration number 52-003674-0. Section 2 of our memorandum of association provides
that we were established for the purpose of engaging in all fields of the computer business and in any other lawful activity permissible
under Israeli law.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>The Powers of the Directors</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">According to our articles of association, and
under the limitations described therein, our board of directors may cause the company to borrow or secure the payment of any sum or sums
of money for the purposes of the company, and set aside any amount out of our profits as a reserve for any purpose.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under our articles of association, retirement
of directors from office is not subject to any age limitation and our directors are not required to own shares in our company in order
to qualify to serve as directors.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Rights Attached to Shares</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Annual and Extraordinary Meetings</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the Israeli Companies Law, a company must
convene an annual meeting of shareholders at least once every calendar year and within fifteen months of the last annual meeting. Depending
on the matter to be voted upon, notice of at least 21 days or 35 days prior to the date of the meeting is required. Our board of directors
may, in its discretion, convene additional meetings as &#8220;extraordinary general meetings.&#8221; In addition, the board must convene
an extraordinary general meeting upon the demand of two of the directors or 25% of the nominated directors, one or more shareholders
holding at least 5% of the outstanding share capital and at least 1% of the voting power in the company, or one or more shareholders
holding at least 5% of the voting power in the company.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Please refer to Exhibit 2.2 for Items 10.B.3,
B.4, B.6, B.7, B.8, B.9 and B.10.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_044"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>C.
<span style="font-variant: small-caps">Material Contracts</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">While we have numerous contracts with customers,
resellers, distributors and property owners, we do not deem any such individual contract to be material contracts that are not in the
ordinary course of our business.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_045"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>D.
<span style="font-variant: small-caps">Exchange Controls</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Israeli law and regulations do not impose any
material foreign exchange restrictions on non-Israeli holders of our Ordinary Shares.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Non-residents of Israel who purchase our Ordinary
Shares will be able to convert dividends, if any, thereon, and any amounts payable upon our dissolution, liquidation or winding up, as
well as the proceeds of any sale in Israel of our Ordinary Shares to an Israeli resident, into freely repatriable dollars, at the exchange
rate prevailing at the time of conversion, provided that the Israeli income tax has been withheld (or paid) with respect to such amounts
or an exemption has been obtained.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->89<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="m_046"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>E.
<span style="font-variant: small-caps">Taxation</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following is a discussion of Israeli and
United States tax consequences material to our shareholders. To the extent that the discussion is based on new tax legislation that has
not been subject to judicial or administrative interpretation, we cannot assure you that the views expressed in the discussion will be
accepted by the appropriate tax authorities or the courts. The discussion is not intended, and should not be construed, as legal or professional
tax advice and is not exhaustive of all possible tax considerations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Holders of our Ordinary Shares should consult
their own tax advisors as to the United States, Israeli or other tax consequences of the purchase, ownership and disposition of Ordinary
Shares, including, in particular, the effect of any foreign, state or local taxes.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-variant: small-caps"><b>Israeli
Tax Considerations </b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Tax regulations have a material impact on our
business, particularly in Israel where we have our headquarters. The following is a summary of some of the current tax law applicable
to companies in Israel, with special reference to its effect on us. The following also contains a discussion of specified Israeli tax
consequences to our shareholders and government programs benefiting us. To the extent that the discussion is based on tax legislation
that has not been subject to judicial or administrative interpretation, there can be no assurance that the views expressed in the discussion
will be accepted by the tax authorities in question. The discussion is not intended, and should not be construed, as legal or professional
tax advice and is not exhaustive of all possible tax considerations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>General Corporate Tax Structure</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Generally, Israeli companies are subject to corporate
tax on their taxable income. As of 2022 the corporate tax rate is 23%. However, the effective tax rate payable by a company that derives
income from an AE, BE, PFE or a PTE, in each case, as defined and further discussed below, may be considerably lower. See &#8220;Law
for the Encouragement of Capital Investments&#8221; in this Item 5.A below. In addition, Israeli companies are currently subject to regular
corporate tax rate on their capital gains.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Besides being subject to the general corporate
tax rules in Israel, certain of our Israeli subsidiaries have also, from time to time, applied for and received certain grants and tax
benefits from, and participate in, programs sponsored by the Government of Israel, as described below.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Law for the Encouragement of Industry (Taxes),
1969</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Law for the Encouragement of Industry (Taxes),
5729-1969 (the &#8220;<b>Industry Encouragement Law</b>&#8221;) provides several tax benefits for an &#8220;Industrial Company.&#8221;
Pursuant to the Industry Encouragement Law, a company qualifies as an Industrial Company if it is an Israeli resident company which was
incorporated in Israel and at least 90% of its income in any tax year (other than income from certain government loans) is generated
from an &#8220;Industrial Enterprise&#8221; that it owns and is located in Israel or in the &#8220;Area,&#8221; in accordance with the
definition under Section 3A of the Israeli Income Tax Ordinance (New Version) 1961, or the Ordinance. An &#8220;Industrial Enterprise&#8221;
is defined as an enterprise whose major activity, in a given tax year, is industrial production.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An Industrial Company is entitled to certain
corporate tax benefits, including:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">Amortization
                                            of the cost of the purchases of patents, or the right to use a patent or know-how used for
                                            the development or promotion of the Industrial Enterprise, over an eight-year period commencing
                                            on the year in which such rights were first exercised;</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">The
                                            right to elect, under certain conditions, to file a consolidated tax return together with
                                            Israeli Industrial Companies controlled by it; and</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">Expenses
                                            related to a public offering are deductible in equal amounts over three years beginning from
                                            the year of the offering.</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Eligibility for benefits under the Industry Encouragement
Law is not subject to receipt of prior approval from any governmental authority.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We believe that certain of our Israeli subsidiaries
currently qualify as Industrial Companies within the definition under the Industry Encouragement Law. We cannot assure you that they
will continue to qualify as Industrial Companies or that the benefits described above will be available in the future.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Law for the Encouragement of Capital Investments, 5719-1959</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Law for the Encouragement of Capital Investments,
5719-1959, or the Investment Law, provides certain incentives for capital investments in a production facility (or other eligible assets).
Generally, an investment program that is implemented in accordance with the provisions of the Investment Law, referred to as an Approved
Enterprise, or AE, a Benefitted Enterprise, or BE, or a Preferred Enterprise, or PFE, or a Preferred Technological Enterprise, or PTE,
or a Special Preferred Technological Enterprise, or SPFE is entitled to benefits as discussed below. These benefits may include cash
grants from the Israeli government and tax benefits, based upon, among other things, the geographic location in Israel of the facility
in which the investment is made. In order to qualify for these incentives, an AE, BE, PFE, PTE or SPFE is required to comply with the
requirements of the Investment Law.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Investment Law has been amended several times
over the recent years, with the three most significant changes effective as of April&#160;1, 2005 (referred to as the 2005 Amendment),
as of January&#160;1, 2011 (referred to as the 2011 Amendment) and as of January 1, 2017 (referred to as the 2017 Amendment). Pursuant
to the 2005 Amendment, tax benefits granted in accordance with the provisions of the Investment Law prior to its revision by the 2005
Amendment remain in force but any benefits granted subsequently are subject to the provisions of the amended Investment Law. Similarly,
the 2011 Amendment introduced new benefits instead of the benefits granted in accordance with the provisions of the Investment Law prior
to the 2011 Amendment. However, companies entitled to benefits under the Investment Law as in effect up to January&#160;1, 2011 were
entitled to choose to continue to enjoy such benefits, provided that certain conditions are met, or elect instead, irrevocably, to forego
such benefits and elect the benefits of the 2011 Amendment. The 2017 Amendment introduces new benefits for Technological Enterprises,
alongside the existing tax benefits.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Tax benefits under the 2011 Amendment became
effective on January 1, 2011</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The 2011 Amendment canceled the availability
of the benefits granted in accordance with the provisions of the Investment Law prior to 2011 and, instead, introduced new benefits for
income generated by a &#8220;Preferred Company&#8221; through its PFE (as such terms are defined in the Investment Law) as of January
1, 2011. A Preferred Company is defined as either (i) a company incorporated in Israel which is not wholly owned by a governmental entity
or (ii) a limited partnership that (a) was registered under the Israeli Partnerships Ordinance and (b) all of its limited partners are
companies incorporated in Israel, but not all of them are governmental entities; which has, among other things, PFE status and is controlled
and managed from Israel. Pursuant to the 2011 Amendment, a Preferred Company is entitled to a reduced corporate tax rate of 15% with
respect to its preferred income, or PFI, attributed to its PFE in 2011 and 2012, unless the PFE is located in a certain development zone,
in which case the rate will be 10%. Such corporate tax rate was reduced to 12.5% and 7%, respectively, in 2013 and was increased to 16%
and 9%, respectively, in 2014 until 2016. Pursuant to the 2017 Amendment, in 2017 and thereafter, the corporate tax rate for a PFE that
is located in a specified development zone was decreased to 7.5%, while the reduced corporate tax rate for other development zones remains
16%. Income derived by a Preferred Company from a Special PFE (as such term is defined in the Investment Law) would be entitled, during
a benefits period of 10 years, to further reduced tax rates of 8%, or 5% if the Special PFE is located in a certain development zone.
As of January 1, 2017, the definition for Special PFE includes less stringent conditions.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The classification of income generated from the
provision of usage rights in know-how or software that were developed in a PFE, as well as royalty income received with respect to such
usage, is subject, as PFE income, to the issuance of a pre-ruling from the Israel Tax Authority that stipulates that such income is associated
with the productive activity of the PFE in Israel.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dividends paid out of PFI attributed to a PFE
or to a Special PFE are generally subject to withholding tax at source at the rate of 20% or such lower rate as may be provided in an
applicable tax treaty (subject to the receipt in advance of a valid certificate from the Israel Tax Authority allowing for a reduced
tax rate). However, if such dividends are paid to an Israeli company, no tax is required to be withheld (although, if such dividends
are subsequently distributed to individuals or a non-Israeli company, withholding tax at a rate of 20% or such lower rate as may be provided
in an applicable tax treaty will apply). From 2017 to 2019, dividends paid out of PFI attributed to a PFE, directly to a foreign parent
company, were subject to withholding tax at source at the rate of 5% (temporary provisions).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The 2011 Amendment also provided transitional
provisions to address companies already enjoying current benefits under the Investment Law. These transitional provisions provide, among
other things, that unless an irrevocable request is made to apply the provisions of the Investment Law as amended in 2011 with respect
to income to be derived as of January 1, 2011: (i) the terms and benefits included in any certificate of approval that was granted to
an AE, which chose to receive grants, before the 2011 Amendment became effective, will remain subject to the provisions of the Investment
Law as in effect on the date of such approval, and subject to certain conditions; and (ii) the terms and benefits included in any certificate
of approval that was granted to an AE, that had participated in an alternative benefits program, before the 2011 Amendment became effective,
will remain subject to the provisions of the Investment Law as in effect on the date of such approval, provided that certain conditions
are met. We and one of our Israeli subsidiaries have elected to apply the new incentives regime under the Amendment to our industrial
activity under the 2011 Amendment.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>New Tax benefits under the 2017 Amendment
that became effective on January 1, 2017</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The 2017 Amendment was enacted as part of the
Economic Efficiency Law that was published on December 29, 2016, and is effective as of January 1, 2017. The 2017 Amendment provides
new tax benefits for two types of Technology Enterprises, as described below, and is in addition to the other existing tax beneficial
programs under the Investment Law.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The 2017 Amendment provides that a technology
company satisfying certain conditions will qualify as a PTE, and will thereby enjoy a reduced corporate tax rate of 12% on income that
qualifies as Preferred Technology Income, or PTI, as defined in the Investment Law. The tax rate is further reduced to 7.5% for a PTE
located in development zone A. In addition, a Preferred Technology Company will enjoy a reduced corporate tax rate of 12% on capital
gain derived from the sale of certain Benefited Intangible Assets (as defined in the Investment Law) to a related foreign company if
the Benefited Intangible Assets were acquired from a foreign company on or after January 1, 2017 for at least NIS 200 million, and the
sale receives prior approval from the National Authority for Technological Innovation (previously known as the Israeli Office of the
Chief Scientist) (referred to as IIA).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The 2017 Amendment further provides that a technology
company satisfying certain conditions will qualify as a Special PTE (an enterprise for which, among others, total consolidated revenues
of its parent company and all subsidiaries is at least NIS 10 billion) and will thereby enjoy a reduced corporate tax rate of 6% on PTI
regardless of the company&#8217;s geographic location within Israel. In addition, a Special PTE will enjoy a reduced corporate tax rate
of 6% on capital gain derived from the sale of certain &#8220;Benefited Intangible Assets&#8221; to a related foreign company if the
Benefited Intangible Assets were either developed by the Special Preferred Technology Enterprise or acquired from a foreign company on
or after January 1, 2017, and the sale received prior approval from IIA. A Special PTE that acquires Benefited Intangible Assets from
a foreign company for more than NIS 500 million will be eligible for these benefits for at least ten years, subject to certain approvals
as specified in the Investment Law.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dividends distributed by a PTE or a Special PTE,
paid out of PTI, are generally subject to withholding tax at source at the rate of 20% or such lower rate as may be provided in an applicable
tax treaty (subject to the receipt in advance of a valid certificate from the Israel Tax Authority allowing for a reduced tax rate).
However, if such dividends are paid to an Israeli company, no tax is required to be withheld (although, if such dividends are subsequently
distributed from such Israeli company to individuals or a non-Israeli company, withholding tax at a rate of 20% or such lower rate as
may be provided in an applicable tax treaty will apply). If such dividends are distributed to a foreign company that holds solely or
together with other foreign companies 90% or more in the Israeli company and other conditions are met, the withholding tax rate will
be 4% (or a lower rate under a tax treaty, if applicable, subject to the receipt in advance of a valid certificate from the Israel Tax
Authority allowing for a reduced tax rate).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We examined the impact of the 2017 Amendment
and the degree to which we will qualify as a PTE or Special PTE, and the amount of PTI that we may have, or other benefits that we may
receive, from the 2017 Amendment. Beginning in 2017, part of the Company taxable income in Israel is entitled to a preferred 12% tax
rate under the 2017 Amendment.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Tax Benefits for Research and Development</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Israeli tax law allows, under certain conditions,
a tax deduction for research and development expenditures, including capital expenditures, for the year in which they are incurred. Such
expenditures must relate to scientific research and development projects, and must be approved by the relevant Israeli government ministry,
determined by the field of research. Furthermore, the research and development must be for the promotion of the company&#8217;s business
and carried out by or on behalf of the company seeking such tax deduction. However, the amount of such deductible expenses is reduced
by the sum of any funds received through government grants for the finance of such scientific research and development projects. Expenditures
not so approved by the relevant Israeli government ministry, but otherwise qualifying for deduction, are deductible over a three-year
period.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Israeli Capital Gains Tax</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following is a short summary of the material
provisions of the tax environment to which shareholders may be subject. This summary is based on the current provisions of tax law. To
the extent that the discussion is based on new tax legislation that has not been subject to judicial or administrative interpretation,
we cannot assure you that the views expressed in the discussion will be accepted by the appropriate tax authorities or the courts.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The summary does not address all of the tax consequences
that may be relevant to all purchasers of our Ordinary Shares in light of each purchaser&#8217;s particular circumstances and specific
tax treatment. For example, the summary below does not address the tax treatment of residents of Israel and traders in securities who
are subject to specific tax regimes. As individual circumstances may differ, holders of our Ordinary Shares should consult their own
tax adviser as to the United States, Israeli or other tax consequences of the purchase, ownership and disposition of Ordinary Shares.
The following is not intended, and should not be construed, as legal or professional tax advice and is not exhaustive of all possible
tax considerations. Each individual should consult his or her own tax or legal adviser.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span style="text-decoration:underline">Tax Consequences Regarding Disposition
of Our Ordinary Shares</span></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Overview</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Israeli law generally imposes a capital gain
tax on the sale of capital assets by residents of Israel, as defined for Israeli tax purposes, and on the sale of assets located in Israel,
including shares of Israeli companies, by both residents and non-residents of Israel, unless a specific exemption is available or unless
a tax treaty between Israel and the seller&#8217;s country of residence provides otherwise. The Ordinance distinguishes between &#8220;Real
Capital Gain&#8221; and &#8220;Inflationary Surplus&#8221;. The Inflationary Surplus is a portion of the total capital gain, which is
equivalent to the increase of the relevant asset&#8217;s purchase price, which is attributable to the increase in the Israeli consumer
price index or, in certain circumstances, a foreign currency exchange rate, between the date of purchase and the date of sale. The Real
Capital Gain is the excess of the total capital gain over the Inflationary Surplus.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Capital gain</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Israeli Resident Shareholders</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of January 1, 2012, the tax rate applicable
to Real Capital Gain derived by Israeli individuals from the sale of shares, whether or not listed on a stock exchange, is 25%, unless
such shareholder claims a deduction for interest and linkage differences expenses in connection with the purchase and holding of such
shares, in which case the gain will generally be taxed at a rate of 30%. However, if such shareholder is considered a Substantial Shareholder
(i.e., a person who holds, directly or indirectly, alone or together with another person who collaborates with such person on a permanent
basis, 10% or more of any of the company&#8217;s &#8220;means of control&#8221; (including, among other things, the right to receive
profits of the company, voting rights, the right to receive the company&#8217;s liquidation proceeds and the right to appoint a director))
at the time of sale or at any time during the preceding 12-month period, such gain will be taxed at the rate of 30%. Individual shareholders
dealing in securities in Israel are taxed at their marginal tax rates applicable to business income (up to 47% in 2018 and thereafter).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under current Israeli tax legislation, the tax
rate applicable to Real Capital Gain derived by Israeli resident corporations from the sale of shares of an Israeli company is the general
corporate tax rate. As described above, the corporate tax rate as of 2018 and thereafter is 23%.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Non-Israeli Resident Shareholders</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Israeli capital gain tax is imposed on the disposal
of capital assets by a non-Israeli resident if such assets are either (i) located in Israel; (ii) shares or rights to shares in an Israeli
resident company; or (iii) represent, directly or indirectly, rights to assets located in Israel, unless a tax treaty between Israel
and the seller&#8217;s country of residence provides otherwise. As mentioned above, Real Capital Gain is generally subject to tax at
the corporate tax rate (23% in 2018 and thereafter) if generated by a company, or at the rate of 25% or 30%, if generated by an individual.
Individual and corporate shareholders dealing in securities in Israel are taxed at the tax rates applicable to business income (a corporate
tax rate for a corporation and a marginal tax rate of up to 47% for an individual in 2018 and thereafter).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding the foregoing, shareholders who
are non-Israeli residents (individuals and corporations) are generally exempt from Israeli capital gain tax on any gains derived from
the sale, exchange or disposition of shares publicly traded on the Tel Aviv Stock Exchange or on a recognized stock exchange outside
of Israel, provided, among other things, that (i) such gains are not generated through a permanent establishment that the non-Israeli
resident maintains in Israel, (ii) the shares were purchased after being listed on a recognized stock exchange, and (iii) with respect
to shares listed on a recognized stock exchange outside of Israel, such shareholders are not subject to the Israeli Income Tax Law (Inflationary
Adjustments) 5745-1985. However, non-Israeli corporations will not be entitled to the foregoing exemptions if Israeli residents (a) have
a controlling interest of more than 25% in such non-Israeli corporation, or (b) are the beneficiaries of or are entitled to 25% or more
of the revenues or profits of such non-Israeli corporation, whether directly or indirectly. Such exemption is not applicable to a person
whose gains from selling or otherwise disposing of the shares are deemed to be business income.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, a sale of shares may be exempt from
Israeli capital gain tax under the provisions of an applicable tax treaty. For example, under the U.S.-Israel Tax Treaty, or the U.S-Israel
Treaty, the sale, exchange or disposition of shares of an Israeli company by a shareholder who is a U.S. resident (for purposes of the
U.S.-Israel Treaty) holding the shares as a capital asset is exempt from Israeli capital gain tax unless either (i) the shareholder holds,
directly or indirectly, shares representing 10% or more of the voting rights during any part of the 12-month period preceding such sale,
exchange or disposition; (ii) the shareholder, if an individual, has been present in Israel for a period or periods of 183 days or more
in the aggregate during the applicable taxable year; (iii) the capital gain arising from such sale are attributable to a permanent establishment
of the shareholder which is maintained in Israel; (iv) the capital gain arising from such sale, exchange or disposition is attributed
to real estate located in Israel; (v) the capital gain arising from such sale, exchange or disposition is attributed to royalties; or
(vi) the shareholder is a U.S. resident (for purposes of the U.S.-Israel Treaty) and is not holding the shares as a capital asset. In
each case, the sale, exchange or disposition of such shares would be subject to Israeli tax, to the extent applicable; however, under
the U.S.-Israel Treaty, a U.S. resident would be permitted to claim a credit for the Israeli tax against the U.S. federal income tax
imposed with respect to the sale, exchange or disposition, subject to the limitations in U.S. laws applicable to foreign tax credits.
The U.S-Israel Treaty does not provide such credit against any U.S. state or local taxes.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In some instances where our shareholders may
be liable for Israeli tax on the sale of their Ordinary Shares, the payment of the consideration may be subject to the withholding of
Israeli tax at source. Shareholders may be required to demonstrate that they are exempt from tax on their capital gains in order to avoid
withholding at source at the time of sale. Specifically, in transactions involving a sale of all of the shares of an Israeli resident
company, in the form of a merger or otherwise, the Israel Tax Authority may require from shareholders who are not liable for Israeli
tax to sign declarations in forms specified by this authority or obtain a specific exemption from the Israel Tax Authority to confirm
their status as non-Israeli resident, and, in the absence of such declarations or exemptions, may require the purchaser of the shares
to withhold taxes at source.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Taxes applicable to Dividends</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Israeli Resident Shareholders</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Israeli residents who are individuals are generally
subject to Israeli income tax for dividends paid on our Ordinary Shares (other than bonus shares or share dividends) at 25%, or 30% if
the recipient of such dividend is a Substantial Shareholder at the time of distribution or at any time during the preceding 12-month
period. However, dividends distributed from taxable income allocated and accrued during the benefits period of an AE are subject to withholding
tax at the rate of 15% (if the dividend is distributed during the tax benefits period under the Investment Law or within 12 years after
such period, except with respect to an FIC, in which case the 12 year limit does not apply) or 20% with respect to PFE. An average rate
will be set in case the dividend is distributed from mixed types of income (regular and Approved/Beneficiary/ Preferred income).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Israeli resident corporations are generally exempt
from Israeli corporate tax for dividends paid on shares of Israeli resident corporations (like our Ordinary Shares). However, dividends
distributed from taxable income accrued during the benefits period of an AE are subject to withholding tax at the rate of 15%, if the
dividend is distributed during the tax benefits period under the Investment Law or within 12 years after such period.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Non-Israeli Resident Shareholders</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Israeli capital gain tax
is imposed on the disposal of capital assets by a non-Israeli resident if such assets are either (i) located in Israel; (ii) shares or
rights to shares in an Israeli resident company; or (iii) represent, directly or indirectly, rights to assets located in Israel, unless
a tax treaty between Israel and the seller&#8217;s country of residence provides otherwise. As mentioned above, Real Capital Gain is
generally subject to tax at the corporate tax rate (23% in 2018 and thereafter) if generated by a company, or at the rate of 25% if generated
by an individual, or 30%, if generated by an individual who is a &#8220;substantial shareholder&#8221; (as defined under the Tax Ordinance),
at the time of sale or at any time during the preceding 12-month period (or if the shareholder claims a deduction for interest and linkage
differences expenses in connection with the purchase and holding of such shares). A &#8220;substantial shareholder&#8221; is generally
a person who alone or together with such person&#8217;s relative or another person who collaborates with such person on a permanent basis,
holds, directly or indirectly, at least 10% of any of the &#8220;means of control&#8221; of the corporation. &#8220;Means of control&#8221;
generally include, among others, the right to vote, receive profits, nominate a director or an executive officer, receive assets upon
liquidation, or order someone who holds any of the aforesaid rights how to act, regardless of the source of such right. Individual and
corporate shareholders dealing in securities in Israel are taxed at the tax rates applicable to business income (a corporate tax rate
for a corporation and a marginal tax rate of up to 47% for an individual in 2018 and thereafter (excluding excess tax as discussed below))
unless contrary provisions in a relevant tax treaty apply.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Notwithstanding the foregoing,
shareholders who are non-Israeli residents (individuals and corporations) generally should be exempt from Israeli capital gain tax on
any gains derived from the sale, exchange or disposition of shares publicly traded on the Tel Aviv Stock Exchange or on a recognized
stock exchange outside of Israel, provided, among other things, that (i)&#160;such gains are not generated through a permanent establishment
that the non-Israeli resident maintains in Israel, (ii)&#160;the shares were purchased after being listed on a recognized stock exchange,
and (iii) with respect to shares listed on a recognized stock exchange outside of Israel, such shareholders are not subject to the Israeli
Income Tax Law (Inflationary Adjustments) 5745-1985. However, non-Israeli corporations will not be entitled to the foregoing exemptions
if Israeli residents (a) have a controlling interest of more than 25% in such non-Israeli corporation, or (b) are the beneficiaries of
or are entitled to 25% or more of the revenues or profits of such non-Israeli corporation, whether directly or indirectly. Such exemption
is not applicable to a person whose gains from selling or otherwise disposing of the shares are deemed to be business income.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0in">In addition, a sale of shares
may be exempt from Israeli capital gain tax under the provisions of an applicable tax treaty. For example, under the U.S.-Israel Tax
Treaty, or the U.S-Israel Treaty, the sale, exchange or disposition of shares of an Israeli company by a shareholder who is a U.S. resident
(for purposes of the U.S.-Israel Treaty) holding the shares as a capital asset is exempt from Israeli capital gain tax unless either
(i) the shareholder holds, directly or indirectly, shares representing 10% or more of the voting rights during any part of the 12-month
period preceding such sale, exchange or disposition; (ii) the shareholder, if an individual, has been present in Israel for a period
or periods of 183 days or more in the aggregate during the applicable taxable year; (iii) the capital gain arising from such sale are
attributable to a permanent establishment of the shareholder which is maintained in Israel; (iv) the capital gain arising from such sale,
exchange or disposition is attributed to real estate located in Israel; (v) the capital gain arising from such sale, exchange or disposition
is attributed to royalties; or (vi) the shareholder is a U.S. resident (for purposes of the U.S.-Israel Treaty) and is not holding the
shares as a capital asset. In each case, the sale, exchange or disposition of such shares would be subject to Israeli tax, to the extent
applicable; however, under the U.S.-Israel Treaty, a U.S. resident would be permitted to claim a credit for the Israeli tax against the
U.S. federal income tax imposed with respect to the sale, exchange or disposition, subject to the limitations in U.S. laws applicable
to foreign tax credits. The U.S-Israel Treaty does not provide such credit against any U.S. state or local taxes.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">In some instances where our
shareholders may be liable for Israeli tax on the sale of their Common Shares, the payment of the consideration may be subject to the
withholding of Israeli tax at source. Shareholders may be required to demonstrate that they are exempt from tax on their capital gains
in order to avoid withholding at source at the time of sale. Specifically, in transactions involving a sale of all of the shares of an
Israeli resident company, in the form of a merger or otherwise, the ITA may require from shareholders who are not liable for Israeli
tax to sign declarations in forms specified by this authority or obtain a specific exemption from the ITA to confirm their status as
non-Israeli resident, and, in the absence of such declarations or exemptions, may require the purchaser of the shares to withhold taxes
at source.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Excess Tax </i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Individuals who are subject to tax in Israel
(whether any such individual is an Israeli resident or non-Israeli resident) are also subject to an additional tax for income exceeding
a certain level. For 2017 and onwards, the additional tax is at a rate of 3% on annual income exceeding NIS 663,240 for 2022 (approximately
$0.2 million) which amount is linked to the annual change in the Israeli consumer price index, including, but not limited to, dividends,
interest and capital gain.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Estate and Gift Tax</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Israeli law presently does not impose estate
or gift taxes.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>United States Federal Income Taxation</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following is a general discussion of the
material U.S. federal income tax consequences of the acquisition, ownership and disposition of our Ordinary Shares. This description
addresses only the U.S. federal income tax considerations that may be relevant to U.S. Holders (as defined below) who hold our Ordinary
Shares as capital assets. This summary is based on the U.S. Internal Revenue Code of 1986, as amended, (the &#8220;Code&#8221;) Treasury
regulations promulgated thereunder, judicial and administrative interpretations thereof and the U.S.-Israel Tax Treaty (the &#8220;Treaty&#8221;),
all as in effect on the date hereof and all of which are subject to change either prospectively or retroactively or to differing interpretations.
There can be no assurance that the U.S. Internal Revenue Service (&#8220;IRS&#8221;) will not take a different position concerning the
tax consequences of the acquisition, ownership or disposition of our Ordinary Shares or that such a position would not be sustained.
This discussion does not address all tax considerations that may be relevant to a U.S. Holder of Ordinary Shares. In addition, this description
does not account for the specific circumstances of any particular investor, such as:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">broker-dealers;</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">financial
                                            institutions or financial services entities;</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">certain
                                            insurance companies;</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">investors
                                            liable for alternative minimum tax;</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">regulated
                                            investment companies, real estate investment trusts, or grantor trusts;</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">dealers
                                            or traders in securities, commodities or currencies;</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">tax-exempt
                                            organizations;</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">retirement
                                            plans;</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">S
                                            corporations:</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">pension
                                            funds;</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">certain
                                            former citizens or long-term residents of the United States;</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">non-resident
                                            aliens of the United States or taxpayers whose functional currency is not the U.S. dollar;</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">persons
                                            who hold Ordinary Shares through partnerships or other pass-through entities;</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">persons
                                            who acquire their Ordinary Shares through the exercise or cancellation of employee stock
                                            options or otherwise as compensation for services;</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">direct,
                                            indirect or constructive owners of investors that actually or constructively own at least
                                            10% of the total combined voting power of our shares or at least 10% of our shares by value;
                                            or</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">investors
                                            holding Ordinary Shares as part of a straddle, appreciated financial position, a hedging
                                            transaction or conversion transaction.</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If a partnership or an entity treated as a partnership
for U.S. federal income tax purposes owns our Ordinary Shares, the U.S. federal income tax treatment of a partner in such a partnership
will generally depend upon the status of the partner and the activities of the partnership. A partnership that owns our Ordinary Shares
and the partners in such partnership should consult their tax advisors about the U.S. federal income tax consequences of holding and
disposing of Ordinary Shares.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This summary does not address the effect of any
U.S. federal taxation (such as estate and gift tax) other than U.S. federal income taxation. In addition, this summary does not include
any discussion of state, local or non-U.S. taxation.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For purposes of this summary the term &#8220;U.S.
Holder&#8221; means a person that is eligible for the benefits of the Treaty and is a beneficial owner of Ordinary Shares who is, for
U.S. federal income tax purposes:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">an
                                            individual who is a citizen or a resident of the United States;</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">a
                                            corporation or other entity taxable as a corporation for United States federal income tax
                                            purposes, created or organized in or under the laws of the United States or any political
                                            subdivision thereof;</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">an
                                            estate the income of which is subject to U.S. federal income taxation regardless of its source;
                                            or</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">a
                                            trust resident in the United States, to the extent such trust&#8217;s income is subject to US tax
                                            as the income of a resident.</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Unless otherwise indicated, it is assumed for
the purposes of this discussion that the Company is not, and will not become, a &#8220;passive foreign investment company&#8221; (&#8220;PFIC&#8221;)
for U.S. federal income tax purposes. See &#8220;&#8212;Passive Foreign Investment Companies&#8221; below.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 104; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->96<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Taxation of Distributions</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subject to the discussion below under the heading
&#8220;&#8212;Passive Foreign Investment Companies,&#8221; the gross amount of any distributions received with respect to our Ordinary
Shares, including the amount of any Israeli taxes withheld therefrom, will constitute dividends for U.S. federal income tax purposes
when such distribution is actually or constructively received, to the extent such distribution is paid out of our current and accumulated
earnings and profits, as determined for U.S. federal income tax purposes. Because we do not expect to maintain calculations of our earnings
and profits under U.S. federal income tax principles, you should expect that the entire amount of any distribution will be taxable to
you as dividend income. Dividends are included in gross income at ordinary income rates, unless such dividends constitute &#8220;qualified
dividend income,&#8221; as set forth in more detail below. Distributions in excess of our current and accumulated earnings and profits
would be treated as a non-taxable return of capital to the extent of your adjusted tax basis in our Ordinary Shares and any amount in
excess of your tax basis would be treated as gain from the sale of Ordinary Shares. See &#8220;&#8212;Sale, Exchange or Other Disposition
of Ordinary Shares&#8221; below for a discussion of the taxation of capital gains. Our dividends would not qualify for the dividends-received
deduction generally available to corporations under section 243 of the Code.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dividends that we pay in NIS, including the amount
of any Israeli taxes withheld therefrom, will be included in your income in a U.S. dollar amount calculated by reference to the exchange
rate in effect on the day such dividends are received, regardless of whether the payment is in fact converted into U.S. dollars. A U.S.
Holder who receives payment in NIS and converts NIS into U.S. dollars at an exchange rate other than the rate in effect on such day may
have a foreign currency exchange gain or loss that would generally be treated as U.S.-source ordinary income or loss. U.S. Holders should
consult their own tax advisors concerning the U.S. tax consequences of acquiring, holding and disposing of NIS.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subject to complex limitations, some of which
vary depending upon the U.S. Holder&#8217;s circumstances, any Israeli withholding tax imposed on dividends paid with respect to our
Ordinary Shares, may be a foreign income tax eligible for credit against a U.S. Holder&#8217;s U.S. federal income tax liability (or,
alternatively, for deduction against income in determining such tax liability). Israeli taxes withheld in excess of the applicable rate
allowed by the Treaty (if any) will not be eligible for credit against a U.S. Holder&#8217;s federal income tax liability. The limitation
on foreign income taxes eligible for credit is calculated separately with respect to specific classes of income. Dividends paid with
respect to our common stock generally will be treated as foreign-source passive category income or, in the case of certain U.S. Holders,
general category income for U.S. foreign tax credit purposes. Further, there are special rules for computing the foreign tax credit limitation
of a taxpayer who receives dividends subject to a reduced tax rate. A U.S. Holder may be denied a foreign tax credit with respect to
Israeli income tax withheld from dividends received on our Ordinary Shares if such U.S. Holder fails to satisfy certain minimum holding
period requirements or to the extent such U.S. Holder&#8217;s position in Ordinary Shares is hedged. An election to deduct foreign taxes
instead of claiming a foreign tax credit applies to all foreign taxes paid or accrued in the taxable year. The rules relating to the
determination of the foreign tax credit are complex. You should consult with your own tax advisors to determine whether and to what extent
you would be entitled to this credit.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subject to certain limitations (including the
PFIC rules discussed below), &#8220;qualified dividend income&#8221; received by a non-corporate U.S. Holder may be subject to tax at
the lower long-term capital gain rates (currently, a maximum rate of 20%). Distributions taxable as dividends paid on our Ordinary Shares
should qualify for a reduced rate if we are a &#8220;qualified foreign corporation,&#8221; as defined in Code section 1(h)(11)(C). We
will be a qualified foreign corporation if either: (i) we are entitled to benefits under the Treaty or (ii) our Ordinary Shares are readily
tradable on an established securities market in the United States and certain other requirements are met. We believe that we are entitled
to benefits under the Treaty and that our Ordinary Shares currently are readily tradable on an established securities market in the United
States. However, no assurance can be given that our Ordinary Shares will remain readily tradable. The rate reduction does not apply unless
certain holding period requirements are satisfied, nor does it apply to dividends received from a PFIC (see discussion below), in respect
of certain risk-reduction transactions, or in certain other situations. U.S. Holders of our Ordinary Shares should consult their own
tax advisors regarding the effect of these rules in their particular circumstances.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Sale, Exchange or Other
Disposition of Ordinary Shares</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subject to the discussion of the PFIC rules below,
if you sell or otherwise dispose of our Ordinary Shares (other than with respect to certain non-recognition transactions), you will generally
recognize gain or loss for U.S. federal income tax purposes in an amount equal to the difference between the amount realized on the sale
or other disposition and your adjusted tax basis in our Ordinary Shares, in each case determined in U.S. dollars. Such gain or loss will
generally be capital gain or loss and will be long-term capital gain or loss if you have held the Ordinary Shares for more than one year
at the time of the sale or other disposition. Long-term capital gain realized by a non-corporate U.S. Holder, who does not have a tax
home outside of the United States, is generally eligible for a preferential tax rate (currently at a maximum of 20%). In general, any
gain that you recognize on the sale or other disposition of Ordinary Shares will be U.S.-source for purposes of the foreign tax credit
limitation; losses will generally be allocated against U.S. source income. Deduction of capital losses is subject to certain limitations
under the Code.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the case of a cash basis U.S. Holder who receives
NIS in connection with the sale or disposition of our Ordinary Shares, the amount realized will be based on the U.S. dollar value of
the NIS received with respect to the Ordinary Shares as determined on the settlement date of such exchange. A cash basis U.S. Holder
who receives payment in NIS and converts NIS into U.S. dollars at a conversion rate other than the rate in effect on the settlement date
may have a foreign currency exchange gain or loss, based on any appreciation or depreciation in the value of NIS against the U.S. dollar,
which would be treated as ordinary income or loss.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An accrual basis U.S. Holder may elect the same
treatment of currency exchange gain or loss required of cash basis taxpayers with respect to a sale or disposition of our Ordinary Shares
that are traded on an established securities market, provided that the election is applied consistently from year to year. Such election
may not be changed without the consent of the IRS. In the event that an accrual basis U.S. Holder does not elect to be treated as a cash
basis taxpayer (pursuant to the Treasury regulations applicable to foreign currency transactions), such U.S. Holder is required to calculate
the value of the proceeds as of the &#8220;trade date&#8221; and may have a foreign currency gain or loss for U.S. federal income tax
purposes in the event of any difference between the U.S. dollar value of NIS prevailing on the trade date and on the settlement date.
Any such currency gain or loss generally would be treated as U.S.- source ordinary income or loss and would be subject to tax in addition
to the gain or loss, if any, recognized by such U.S. Holder on the sale or disposition of such Ordinary Shares.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Passive Foreign Investment
Company Considerations</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Based on the composition of our income, assets
(including the value of our goodwill, going-concern value or any other unbooked intangibles, which may be determined based on the price
of the ordinary shares), and operations, we believe we will not be classified as a &#8220;passive foreign investment company&#8221;,
or PFIC, for the 2022 taxable year. However, because PFIC status is based on our income, assets and activities for the entire taxable
year, it is not possible to determine whether we will be characterized as a PFIC for our current taxable year or future taxable years
until after the close of the applicable taxable year. Moreover, we must determine our PFIC status annually based on tests that are factual
in nature, and our status in the current year and future years will depend on our income, assets and activities in each of those years
and, as a result, cannot be predicted with certainty as of the date hereof.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If we were a PFIC for any taxable year during
which a U.S. Holder owned Ordinary Shares, certain adverse consequences could apply to the U.S. Holder. Specifically, unless a U.S. Holder
makes one of the elections mentioned below, gain recognized by the U.S. Holder on a sale or other disposition of Ordinary Shares would
be allocated ratably over the U.S. Holder&#8217;s holding period for the Ordinary Shares. The amounts allocated to the taxable year of
the sale or other disposition and to any year before we became a PFIC would be taxed as ordinary income. The amount allocated to each
other taxable year would be subject to tax at the highest rate in effect for individuals or corporations, as appropriate, for that taxable
year, and an interest charge would be imposed on the resulting tax liability. Further, any distribution in excess of 125% of the average
of the annual distributions received by the U.S. Holder on our Ordinary Shares during the preceding three years or the U.S. Holder&#8217;s
holding period, whichever is shorter, would be subject to taxation as described immediately above. In addition, if we were a PFIC for
a taxable year in which we pay a dividend or the immediately preceding taxable year, the preferential dividend rates discussed above
with respect to dividends paid to certain non-corporate U.S. Holders would not apply. If we were a PFIC for any taxable year in which
a U.S. Holder owned our shares, the U.S. Holder would generally be required to file annual returns with the IRS on IRS Form 8621.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If we are treated as a PFIC with respect to you
for any taxable year, you will be deemed to own shares in any entities in which we own equity that are also PFICs (&#8220;lower tier
PFICs&#8221;), and you may be subject to the tax consequences described above with respect to the shares of such lower tier PFIC you
would be deemed to own.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">i. <i>Mark-to-market elections</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If we are a PFIC for any taxable year during
which you hold ordinary shares, then instead of being subject to the tax and interest charge rules discussed above, you may make an election
to include gain on the ordinary shares as ordinary income under a mark-to-market method, provided that such ordinary shares are &#8220;marketable.&#8221;
The ordinary shares will be marketable if they are &#8220;regularly traded&#8221; on a qualified exchange or other market, as defined
in applicable U.S. Treasury regulations, such as the New York Stock Exchange (or on a foreign stock exchange that meets certain conditions).
For these purposes, the ordinary shares will be considered regularly traded during any calendar year during which they are traded, other
than in de minimis quantities, on at least 15 days during each calendar quarter. Any trades that have as their principal purpose meeting
this requirement will be disregarded. However, because a mark-to-market election cannot be made for any lower tier PFICs that we may
own, you will generally continue to be subject to the PFIC rules discussed above with respect to your indirect interest in any investments
we own that are treated as an equity interest in a PFIC for U.S. federal income tax purposes. As a result, it is possible that any mark-to-market
election with respect to the ordinary shares will be of limited benefit.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If you make an effective mark-to-market election,
in each year that we are a PFIC, you will include in ordinary income the excess of the fair market value of your ordinary shares at the
end of the year over your adjusted tax basis in the ordinary shares. You will be entitled to deduct as an ordinary loss in each such
year the excess of your adjusted tax basis in the ordinary shares over their fair market value at the end of the year, but only to the
extent of the net amount previously included in income as a result of the mark-to-market election. If you make an effective mark-to-market
election, in each year that we are a PFIC, any gain that you recognize upon the sale or other disposition of your ordinary shares will
be treated as ordinary income and any loss will be treated as ordinary loss, but only to the extent of the net amount of previously included
income as a result of the mark-to-market election.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Your adjusted tax basis in the ordinary shares
will be increased by the amount of any income inclusion and decreased by the amount of any deductions under the mark-to-market rules
discussed above. If you make an effective mark-to-market election, it will be effective for the taxable year for which the election is
made and all subsequent taxable years unless the ordinary shares are no longer regularly traded on a qualified exchange or the IRS consents
to the revocation of the election. You should consult your tax advisor about the availability of the mark-to-market election, and whether
making the election would be advisable in your particular circumstances.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">ii. <i>Qualified electing
fund elections</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In certain circumstances, a U.S. equity holder
in a PFIC may avoid the adverse tax and interest charge regime described above by making a &#8220;qualified electing fund&#8221; election
to include in income its share of the corporation&#8217;s income on a current basis. However, you may make a qualified electing fund
election with respect to the ordinary shares only if we agree to furnish you annually with a PFIC annual information statement as specified
in the applicable U.S. Treasury regulations. We do not intend to provide the information necessary for you to make a qualified electing
fund election if we are classified as a PFIC. Therefore, you should assume that you will not receive such information from us and would
therefore be unable to make a qualified electing fund election with respect to any of our ordinary shares were we to be or become a PFIC.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Additional Tax on Investment
Income</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition to the income taxes described above,
U.S. Holders that are individuals, estates or trusts and whose income exceeds certain thresholds may be subject to a 3.8% Medicare contribution
tax on net investment income, which includes dividends and capital gains from the sale or exchange of our Ordinary Shares.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Backup Withholding and
Information Reporting</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Payments in respect of our Ordinary Shares may
be subject to information reporting to the IRS and to U.S. backup withholding tax at the rate (currently) of 24%. Backup withholding
will not apply, however, if you (i) fall within certain exempt categories and demonstrate the fact when required or (ii) furnish a correct
taxpayer identification number and make any other required certification.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Backup withholding is not an additional tax.
Amounts withheld under the backup withholding rules may be credited against a U.S. Holder&#8217;s U.S. tax liability. A U.S. Holder may
obtain a refund of any excess amounts withheld under the backup withholding rules by filing the appropriate claim for refund with the
IRS.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">U.S. citizens and individuals taxable as resident
aliens of the United States that (i) own &#8220;specified foreign financial assets&#8221; (as defined in Section 6038D of the Code and
the regulations thereunder) with an aggregate value in a taxable year in excess of certain thresholds (as determined under rules in Treasury
regulations) and (ii) are required to file U.S. federal income tax returns generally will be required to file an information report with
respect to those assets with their tax returns. IRS Form 8938 has been issued for that purpose. &#8220;Specified foreign financial assets&#8221;
include any financial accounts maintained by foreign financial institutions, foreign stocks held directly, and interests in foreign estates,
foreign pension plans or foreign deferred compensation plans. Under those rules, our Ordinary Shares, whether owned directly or through
a financial institution, estate or pension or deferred compensation plan, would be &#8220;specified foreign financial assets.&#8221;
Under Treasury regulations, the reporting obligation applies to certain U.S. entities that hold, directly or indirectly, specified foreign
financial assets. Penalties can apply if there is a failure to satisfy this reporting obligation. In addition, in the event a U.S. Holder
that is required to file IRS Form 8938 does not file such form, the statute of limitations on the assessment and collection of U.S. federal
income taxes of such U.S. Holder for the related tax year may not close until three years after the date that the required information
is filed. A U.S. Holder is urged to consult the U.S. Holder&#8217;s tax advisor regarding the reporting obligation.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any U.S. Holder who acquires more than $100,000
of our Ordinary Shares or holds 10% or more of our Ordinary Shares by vote or value may be subject to certain additional U.S. information
reporting requirements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>The above description is not intended to constitute
a complete analysis of all tax consequences relating to acquisition, ownership and disposition of our Ordinary Shares. You should consult
your tax advisor concerning the tax consequences of your particular situation.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_047"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>F.
<span style="font-variant: small-caps">Dividends and Paying Agents</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.5in; text-align: justify; text-indent: 0.5in">Not applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_048"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>G.
<span style="font-variant: small-caps">Statement by Experts</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.5in; text-align: justify; text-indent: 0.5in">Not applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_049"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>H.
<span style="font-variant: small-caps">Documents on Display</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are subject to certain of the reporting requirements
of the Exchange Act, as applicable to &#8220;foreign private issuers&#8221; as defined in Rule 3b-4 under the Exchange Act. As a foreign
private issuer, we are exempt from certain provisions of the Exchange Act. Accordingly, our proxy solicitations are not subject to the
disclosure and procedural requirements of Regulation 14A under the Exchange Act, and transactions in our equity securities by our officers
and directors are exempt from reporting and the &#8220;short-swing&#8221; profit recovery provisions contained in Section 16 of the Exchange
Act. In addition, we are not required under the Exchange Act to file periodic reports and financial statements as frequently or as promptly
as U.S. companies whose securities are registered under the Exchange Act. However, we file with the SEC an annual report on Form 20-F
containing financial statements audited by an independent accounting firm. We also submit to the SEC reports on Form 6-K containing (among
other things) press releases and unaudited financial information. We post our annual report on Form 20-F on our website (www.magicsoftware.com)
promptly following the filing of our annual report with the SEC. The information on our website is not incorporated by reference into
this annual report.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Exchange Act file number for our SEC filings
is 000-19415.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The SEC maintains a website at www.sec.gov that
contains reports, proxy and information statements, and other information regarding registrants that make electronic filings with the
SEC using its EDGAR (Electronic Data Gathering, Analysis, and Retrieval) system.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The documents concerning our company that are
referred to in this annual report may also be inspected at our offices located at Yahadut Canada 1 Street, Or Yehuda 6037501, Israel.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_050"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>I.
<span style="font-variant: small-caps">Subsidiary Information</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.5in; text-align: justify; text-indent: 0.5in">Not applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 108; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->100<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="m_051"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>ITEM
11. <span style="text-decoration:underline">QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKS</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are exposed to a variety of market risks,
primarily changes in interest rates affecting our investments in marketable securities and foreign currency fluctuations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Cash Investments and Interest Rate Risk</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our cash investment policy seeks to preserve
principal and maintain adequate liquidity while maximizing the income we receive from our investments without significantly increasing
the risk of loss. To minimize investment risk, we maintain a diversified portfolio across various maturities, types of investments and
issuers, which may include, from time to time, money market funds, U.S. government bonds, state debt, bank deposits and certificates
of deposit, and investment grade corporate debt. Our cash management policy does not allow us to purchase or hold commodity instruments,
structures or &#8220;sub-prime&#8221; related holdings (such as auction rate securities and collateralized debt obligation) or other
financial instruments for trading purposes.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2022, we had approximately
$87.0 million in cash and cash equivalents and short term bank deposits. Our marketable securities include investments in commercial
bonds. The performance of the capital markets affects the values of the funds we hold in marketable securities. These assets are subject
to market fluctuations. In such case, the fair value of our investments may decline. We periodically monitor our investments for adverse
material holdings related to the underlying financial solvency of the issuers of the marketable securities in our portfolio.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our exposure to market risk for changes in interest
rates relates primarily to our investment in marketable securities. Investments in both fixed rate and floating rate interest bearing
securities carry a degree of interest rate risk. The fair market value of fixed rate securities may be adversely impacted due to a rise
in interest rates, while floating rate securities may produce less income than predicted if interest rates fall. Due in part to these
factors, our future financial results may be negatively affected in the event that interest rates fluctuate.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Foreign Currency Exchange Risk</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our financial results may be negatively impacted
by foreign currency fluctuations. Our foreign operations are transacted through a global network of subsidiaries. These sales and related
expenses are generally denominated in currencies other than the U.S. dollar. Because our financial results are reported in U.S. dollars,
our results of operations may be adversely impacted by fluctuations in the rates of exchange between the U.S. dollar and such other currencies
as the financial results of our foreign subsidiaries are converted into U.S. dollars in consolidation. Our earnings are predominantly
affected by fluctuations in the value of the U.S. dollar as compared to the NIS, as well as the value of the U.S. dollar as compared
to the euro, Japanese Yen and British Pound.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We measure and record non-monetary accounts in
our balance sheet (principally fixed assets and prepaid expenses) in U.S. dollars. For this measurement, we use the U.S. dollar value
in effect at the date that the asset or liability was initially recorded in our balance sheet (the date of the transaction).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our operating expenses may be affected by fluctuations
in the value of the U.S. dollar as it relates to foreign currencies, with NIS, euro and Japanese Yen having the greatest potential impact.
In managing our foreign exchange risk, we periodically enter into foreign exchange hedging contracts. Our goal is to mitigate the potential
exposure with these contracts. By way of example, an increase of 10% in the value of the NIS relative to the U.S. dollar in 2022 would
have resulted in an increase in the U.S. dollar reporting value of our operating income of $2.9 million for that year, while a decrease
of 10% in the value of the NIS relative to the U.S. dollar in 2022 would have resulted in a decrease in the U.S. dollar reporting value
of our operating income of $2.4 million for the year. An increase of 10% in the value of the euro, the Japanese yen and the British Pound
relative to the U.S. dollar in 2022 would have resulted in an increase in the U.S. dollar reporting value of our operating income of
$1.1 million, $0.3 million and $0.1 million, respectively, for that year, while a decrease of 10% in the value of the euro, Japanese
Yen and British Pound relative to the U.S. dollar in 2022 would have resulted in a decrease in the U.S. dollar reporting value of our
operating income of $0.9 million, $0.2 million and $0.1 million, respectively, for that year.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Equity Price Risk</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2022, we had no trading securities
that are classified as available for sale.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_052"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>ITEM
12. <span style="text-decoration:underline">DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.5in; text-align: justify; text-indent: 0.5in">Not applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->101<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>PART II</b></p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_053"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>ITEM
13. <span style="text-decoration:underline">DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES</span></b></span></p><div>
</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.5in; text-align: justify; text-indent: 0.5in">None.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_054"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>ITEM
14. <span style="text-decoration:underline">MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS</span></b></span></p><div>
</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.5in; text-align: justify; text-indent: 0.5in">Not applicable.</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_055"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>ITEM
15. <span style="text-decoration:underline">CONTROLS AND PROCEDURES</span></b></span></p><div>
</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Disclosure Controls and Procedures</b></p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our management, including our Chief Executive
Officer, and Chief Financial Officer, has evaluated the effectiveness of our disclosure controls and procedures (as such term is defined
in Rules 13a-15(e) and 15d-15(e) of the Exchange Act) as of December 31, 2022. Based on such evaluation, the Chief Executive Officer,
and the Chief Financial Officer, have concluded that, as of December 31, 2022, we did not have adequate trained resources to retain sufficient
and precise documentation as evidence for performing business processes controls (including automated and IT-dependent manual), management
review controls, and evidence to demonstrate completeness and accuracy of information prepared by entity (&#8220;IPE&#8221;). As a result,
we could not monitor and oversee the completion of our assessment of the design and operating effectiveness of internal control over
financial reporting in a timely manner.</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Management&#8217;s Annual Report on Internal
Control over Financial Reporting</b></p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our management is responsible for establishing
and maintaining adequate internal control over financial reporting, as such term is defined in Rules 13a-15(f) and 15d-15(f) of the Exchange
Act. Our management, including our Chief Executive Officer and our Chief Financial Officer, conducted an evaluation of the effectiveness
of our internal control over financial reporting based on the framework and criteria established in Internal Control&#8212;Integrated
Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) as of the end of the period covered
by this report.</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Based on that evaluation, as of December 31, 2022,
management has identified that it did not have adequate trained resources to retain sufficient and precise documentation as evidence for
performing business processes controls (including automated and IT-dependent manual), management review controls, and evidence to demonstrate
completeness and accuracy of information prepared by entity (&#8220;IPE&#8221;). As a result, the Company could not monitor and oversee
the completion of its assessment of the design and operating effectiveness of internal control over financial reporting in a timely manner.</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding the conclusion by our Chief Executive
Officer and our Chief Financial Officer that our disclosure controls and procedures as of December 31, 2022 were not effective, and notwithstanding
the material weaknesses in our internal control over financial reporting described above, management believes that the consolidated financial
statements and related financial information included in this Annual Report on Form 20-F fairly present in all material respects our financial
position, results of operations and cash flows as of December 31, 2022 and 2021, and for the years ended on such dates, in conformity
with IFRS.</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our management&#8217;s assessment of and conclusion
on the effectiveness of internal control over financial reporting did not include the internal controls of the business of Appush Ltd.,
Intrabases SAS and The GoodKind Group LLC, that were acquired during 2022 and included in our 2022 consolidated financial statements
and constituted 3% and 3% of total and net assets, respectively as of December 31, 2022 and 4% and 7% of revenues and net income, respectively,
for the year then ended.</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><b>Remediation Plan
for the Material Weakness</b></p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Management is committed
to the remediation of the material weakness described above, as well as the continued improvement of the Company&#8217;s internal control
over financial reporting. Management has implemented and continues to implement measures designed to ensure that control deficiencies
contributing to the material weakness are remediated, such that these controls are designed, implemented and operating effectively.</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">As of the date of this
Annual Report on Form 20-F, management is re-assessing the design of controls and modifying processes designed to improve our internal
control over financial reporting and remediate the control deficiencies that led to the material weaknesses, including but not limited
to, (a) hiring additional personnel with appropriate skillsets, (b) developing an execution plan and resourcing to test controls and
to complete remediation (c) actively monitoring corrective actions and providing status reporting to management on the progress.</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Management will continue to
evaluate and improve the internal controls over financial reporting and take additional measures to address control deficiencies. Management
will test and evaluate the implementation of internal controls and revised processes to ascertain whether they are designed and operating
effectively to provide reasonable assurance that they will prevent or detect a material error in our financial statements.</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Management believe that once these actions have been
completed, it will remediate the material weakness. The material weakness will not be considered remediated, however, until the applicable
controls operate for a sufficient period of time and management has concluded, through testing, that controls are operating effectively.</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Attestation Report of the Registered Public
Accounting Firm </b></p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>The attestation report of Kost Forer Gabbay&amp;
Kasierer, a member of EY Global, an independent registered public accounting firm in Israel, on our management&#8217;s assessment of
our internal control over financial reporting as of December 31, 2022 is provided on page F-4, as included under Item 18 of this annual
report.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 110; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->102<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Changes in Internal Control over Financial
Reporting</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Based on the evaluation conducted by our Chief
Executive Officer and our Chief Financial Officer pursuant to Rules 13a-15(d) and 15d-15(d) under the Exchange Act, our management has
concluded that there was no change in our internal control over financial reporting that occurred during the year ended December 31,
2022 that materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_056"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>ITEM
16. <span style="text-decoration:underline">RESERVED</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="m_057"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>ITEM
16A. <span style="text-decoration:underline">AUDIT COMMITTEE FINANCIAL EXPERT</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our board of directors has determined that Mr.
Ettlinger, an external director within the meaning of the Israeli Companies Law, meets the definition of an audit committee financial
expert, as defined by rules of the SEC. For a brief listing of Mr. Ettlinger&#8217;s relevant experience, see Item 6A. &#8220;Directors,
Senior Management and Employees -- Directors and Senior Management.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_058"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>ITEM
16B. <span style="text-decoration:underline">CODE OF ETHICS</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have adopted a code of ethics that applies
to any chief executive officer and all senior financial officers of our company, including the chief financial officer, chief accounting
officer or controller, or persons performing similar functions. The code of ethics is available on our website. Written copies are available
upon request. If we make any substantive amendment to the code of ethics or grant any waivers, including any implicit waiver, from a
provision of the codes of ethics, we will disclose the nature of such amendment or waiver on our website.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_059"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>ITEM
16C. <span style="text-decoration:underline">PRINCIPAL ACCOUNTANT FEES AND SERVICES</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Independent Registered Public Accounting Firm
Fees</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth, for each of the
years indicated, the fees billed by our principal independent registered public accounting firm. All of such fees were pre-approved by
our Audit Committee.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="white-space: nowrap">&#160;</td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="6" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Year Ended<br/> December&#160;31,</td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Services Rendered</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%"><span style="font-size: 10pt">Audit <sup>(1)</sup></span></td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">376,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">741,000</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Tax and other <sup>(2)</sup></span></td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">92,000</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">108,000</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">468,000</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">849,000</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><!-- Field: Rule-Page --><div style="width: 25%"><div style="font-size: 1pt; border-top: Black 1.5pt solid">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">(1)</span></td><td style="text-align: justify"><span style="font-size: 10pt">Audit fees relate to audit
services provided for each of the years shown in the table, including fees associated with the annual audit, the filing of a shelf registration
statement, various accounting issues and audit services provided in connection with other statutory or regulatory filings.</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">(2)</span></td><td style="text-align: justify"><span style="font-size: 10pt">Tax fees relate to services
performed by the tax division for tax compliance, planning and advice.</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Pre-Approval Policies and Procedures</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our Audit Committee has adopted a policy and
procedures for the pre-approval of audit and non-audit services rendered by our independent registered public accountants, Kost Forer
Gabbay &amp; Kasierer, a member of Ernst &amp; Young Global. Pre-approval of an audit or non-audit service may be given as a general
pre-approval, as part of the audit committee&#8217;s approval of the scope of the engagement of our independent auditor, or on an individual
basis. Any proposed services that exceed general pre-approved levels also require specific pre-approval by our audit committee. The policy
prohibits retention of the independent public accountants to perform the prohibited non-audit functions defined in Section 201 of the
Sarbanes-Oxley Act of 2002 or the rules of the SEC, and also requires the Audit Committee to consider whether proposed services are compatible
with the independence of the public accountants.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 111; Options: NewSection; Value: 103 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->103<!-- Field: /Sequence --></span></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="m_060"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>ITEM
16D. <span style="text-decoration:underline">EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.5in; text-align: justify; text-indent: 0.5in">Not applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_061"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>ITEM
16E. <span style="text-decoration:underline">PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.5in; text-align: justify; text-indent: 0.5in">None.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_062"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>ITEM
16F. <span style="text-decoration:underline">CHANGES IN REGISTRANT&#8217;S CERTIFYING ACCOUNTANT</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.5in; text-align: justify; text-indent: 0.5in">None.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_063"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>ITEM
16G. <span style="text-decoration:underline">CORPORATE GOVERNANCE</span></b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>NASDAQ Stock Market Rules and Home Country
Practice</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under NASDAQ Stock Market Rule 5615(a)(3), foreign
private issuers, such as our company, are permitted to follow certain home country corporate governance practices instead of certain
provisions of the NASDAQ Stock Market Rules. A foreign private issuer that elects to follow a home country practice instead of any of
such NASDAQ requirements must submit to NASDAQ, in advance, a written statement from an independent counsel in such issuer&#8217;s home
country certifying that the issuer&#8217;s practices are not prohibited by the home country&#8217;s laws. We provided NASDAQ with such
a letter of non-compliance with respect to:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">The Rule requiring maintaining
a majority of independent directors (Rule 5605(b)(1)). Instead, under Israeli law and practice, we are required to appoint at least two
external directors, within the meaning of the Israeli Companies Law, to our board of directors.</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">The Rule requiring that our
independent directors have regularly scheduled meetings at which only independent directors are present (Rule 5605(b)(2)). Instead, we
follow Israeli law according to which independent directors are not required to hold executive sessions.</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">The Rule regarding independent
director oversight of director nominations process for directors (Rule 5605(e)). Instead, we follow Israeli law and practice according
to which our board of directors recommends directors for election by our shareholders.</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">The requirement to obtain shareholder
approval for the establishment or amendment of certain equity based compensation plans (Rule 5635(c)), an issuance that will result in
a change of control of the company (Rule 5635(b)), certain transactions other than a public offering involving issuances of a 20% or
more interest in the company (Rule 5635(d)) and certain acquisitions of the stock or assets of another company (Rule 5635(a)). Instead,
we follow Israeli law and practice in approving such procedures, according to which Board approval may suffice in certain circumstances.</span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="m_064"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt"><b>ITEM
16H. MINE SAFETY DISCLOSURE</b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.5in; text-align: justify; text-indent: 0.5in">Not applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_065"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><span style="font-size: 10pt; text-transform: uppercase"><b>Item
16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections</b></span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.5in; text-align: justify; text-indent: 0.5in">Not applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="m_066"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-transform: uppercase"><b>Item
16J. Insider trading policies</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Not applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

</div><!-- Field: Page; Sequence: 112; Value: 103 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->104<!-- Field: /Sequence --></span></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PART III</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><div><a id="s_001"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><b>ITEM
17. FINANCIAL STATEMENTS</b></p><div>

</div><p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="s_002"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify"><b>ITEM
18. FINANCIAL STATEMENTS</b></p><div>

</div><p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&#160;&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="width: 91%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#f_001">Index to Financial
    Statements</a></span></td>
    <td style="text-align: center; width: 9%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-1</span></td></tr>

<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; width: 90%"><a href="#fin_001">Reports of Independent Registered Public Accounting Firm (PCAOB ID 1281)</a></td>
    <td style="text-align: center; width: 10%">F-2- F-5</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><a href="#fin_002">Consolidated Statements of Financial Position</a></td>
    <td style="text-align: center">F-6 - F-7</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><a href="#fin_003">Consolidated Statements of Profit or Loss</a></td>
    <td style="text-align: center">F-8 </td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><a href="#fin_004">Consolidated Statements of Comprehensive Income</a></td>
    <td style="text-align: center">F-9</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><a href="#fin_005">Consolidated Statements of Changes in Equity</a></td>
    <td style="text-align: center">F-10 - F-11</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><a href="#fin_006">Consolidated Statements of Cash Flows</a></td>
    <td style="text-align: center">F-12 - F-14</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><a href="#fin_007">Notes to Consolidated Financial Statements</a></td>
    <td style="text-align: center">F-15 - F-75</td></tr>

<tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="width: 91%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#s_003">Appendix to Consolidated
    Financial Statements &#8211; Details of Subsidiaries and Affiliate</a></span></td>
    <td style="text-align: center; width: 9%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-76 &#8211;
    F-77</span></td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p><div>

</div><!-- Field: Page; Sequence: 113; Value: 2 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->105<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><div><a id="item"></a></div><p style="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><b>ITEM 19.</b> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">EXHIBITS</span></b></span></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Index
to Exhibits</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Exhibit</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td>
    <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Description</b></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top; width: 9%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 90%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Memorandum of Association of the Registrant<sup>1</sup></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/876779/000087677911000043/articlesofassociationmagicfi.htm">Articles of Association of the Registrant<sup>2</sup></a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.1</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Specimen of Ordinary Share Certificate<sup>3</sup></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.2</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/876779/000121390020012139/f20f2019ex2-2_magicsoft.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Description of the rights of each class of securities registered under Section 12 of the Securities Exchange Act of 1934<sup>4</sup></span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2000 Employee Stock Option Plan<sup>5</sup></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/876779/000117891308001273/exhibit_4-3.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2007 Incentive Compensation Plan<sup>6</sup></span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.1</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="f20f2022ex8-1_magicsoft.htm">List of Subsidiaries of the Registrant</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.1</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: justify"><a href="f20f2022ex12-1_magicsoft.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certification of Chief Executive Officer pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934, as amended</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.2</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: justify"><a href="f20f2022ex12-2_magicsoft.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certification of Chief Financial Officer pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934, as amended</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.1</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: justify"><a href="f20f2022ex13-1_magicsoft.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certification of Chief Executive Officer pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.2</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="f20f2022ex13-2_magicsoft.htm">Certification of Chief Financial Officer pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">15.1</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: justify"><a href="f20f2022ex15-1_magicsoft.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Kost Forer Gabbay &amp; Kasierer, a Member of Ernst &amp; Young Global</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">15.2</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: justify"><a href="f20f2022ex15-2_magicsoft.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of KDA Audit Corporation (relating to Magic Software Japan K.K.)</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">101.INS</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inline XBRL Instance Document (The instance document does not appear in the interactive data file because its XBRL tags are embedded within the Inline XBRL document)</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">101.SCH</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inline XBRL Taxonomy Extension Schema Document</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">101.CAL</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inline XBRL Taxonomy Calculation Linkbase Document</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">101.DEF</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inline XBRL Taxonomy Extension Definition Linkbase Document</span></td></tr>

<tr style="font: 10pt Times New Roman, Times, Serif; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top; width: 9%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">101.LAB</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: justify; width: 90%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inline
    XBRL Taxonomy Label Linkbase Document</span></td></tr>

<tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top; width: 9%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">101.PRE</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: justify; width: 90%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inline
    XBRL Taxonomy Presentation Linkbase Document</span></td></tr>

<tr style="font: 10pt Times New Roman, Times, Serif; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top; width: 9%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">104</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: justify; width: 90%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cover
    Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)</span></td></tr>
  </table><div>
</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 3pt; margin-bottom: 3pt; width: 25%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>



</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed
    as Exhibit 3.2 to the registrant&#8217;s registration statement on Form F-1, registration number 33-41486, and incorporated herein
    by reference.</span></td></tr>
  </table><div>
</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed
    as an Item to the registrant&#8217;s Form 6-K for the month of December 2011, filed on December 7, 2011, and incorporated herein
    by reference.</span></td></tr>
  </table><div>
</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed
    as Exhibit 4.1 to the registrant&#8217;s registration statement on Form F-1, registration number 33-41486, and incorporated herein
    by reference.</span></td></tr>
  </table><div>
</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed
    as Exhibit 2.2 to the registrant&#8217;s registration statement on Form 20-F for the year ended December 31, 2019, and incorporated
    herein by reference.</span></td></tr>
  </table><div>
</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed
    as Exhibit 10.2 to the registrant&#8217;s annual report on Form 20-F for the year ended December 31, 2000, and incorporated herein
    by reference.</span></td></tr>
  </table><div>
</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed
    as Exhibit 4.3 to the registrant&#8217;s annual report on Form 20-F for the year ended December 31, 2007, and incorporated herein
    by reference.</span></td></tr></table><div>




</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 114; Value: 103 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->106<!-- Field: /Sequence --></span></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-weight: normal">&#160;</span></p><div>

</div><div><a id="f_001"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>MAGIC SOFTWARE ENTERPRISES LTD</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>CONSOLIDATED FINANCIAL STATEMENTS</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>AS OF DECEMBER 31, 2022</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>U.S. DOLLARS IN THOUSANDS</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>INDEX</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; text-align: left; width: 90%">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: center; width: 10%"><b>Page</b></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">&#160;</td> <td style="text-align: center">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><a href="#fin_001"><b>Reports of Independent Registered Public Accounting Firm (PCAOB ID <ix:nonNumeric contextRef="c0" name="dei:AuditorFirmId">1281</ix:nonNumeric>)</b></a></td> <td style="text-align: center"><b>F-2- F-5</b></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">&#160;</td> <td style="text-align: center">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><a href="#fin_002"><b>Consolidated Statements of Financial Position</b></a></td> <td style="text-align: center"><b>F-6 - F-7</b></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">&#160;</td> <td style="text-align: center">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><a href="#fin_003"><b>Consolidated Statements of Profit or Loss</b></a></td> <td style="text-align: center"><b>F-8 </b></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">&#160;</td> <td style="text-align: center">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><a href="#fin_004"><b>Consolidated Statements of Comprehensive Income</b></a></td> <td style="text-align: center"><b>F-9</b></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">&#160;</td> <td style="text-align: center">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><a href="#fin_005"><b>Consolidated Statements of Changes in Equity</b></a></td> <td style="text-align: center"><b>F-10 - F-11</b></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">&#160;</td> <td style="text-align: center">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><a href="#fin_006"><b>Consolidated Statements of Cash Flows</b></a></td> <td style="text-align: center"><b>F-12 - F-14</b></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">&#160;</td> <td style="text-align: center">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><a href="#fin_007"><b>Notes to Consolidated Financial Statements</b></a></td> <td style="text-align: center"><b>F-15 - F-75</b></td></tr> </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>- - - - - - - - - - - - - - - - - - -</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 32%; text-align: left"><img alt="" src="fin_001.jpg"/></td>
    <td style="width: 32%"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Kost Forer Gabbay &amp; Kasierer</b></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">144 Menachem Begin St.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tel-Aviv 6492102, Israel&#160;</p></td>
    <td style="width: 1%; text-align: justify">&#160;</td>
    <td style="width: 35%"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tel: +972-3-6232525</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Fax: +972-3-5622555</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">ey.com</p></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>&#160;</b></p><div>

</div><div><a id="fin_001"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Report of Independent
Registered Public Accounting Firm</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">To the Shareholders and the Board of Directors of</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Magic Software Enterprises Ltd.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>Opinion on the Financial Statements</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have audited the accompanying
consolidated statements of financial position of Magic Software Enterprises Ltd. (the Company) as of January 1, 2021, December 31, 2021
and December 31, 2022, and the related consolidated statements of profit or loss, comprehensive income, changes in equity and cash flows
and for each of the two years in the period ended December 31, 2022, and the related notes (collectively referred to as the &#8220;consolidated
financial statements&#8221;). In our opinion, based on our audits and the report of other auditors, the consolidated financial statements
present fairly, in all material respects, the financial position of the Company at January 1, 2021, December 31, 2021 and December 31,
2022, and the results of its operations and its cash flows for each of the two years in the period ended December 31, 2022, in conformity
with International Financial Reporting Standards as issued by the International Accounting Standards Board.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We did not audit the financial
statements of Magic Software Japan K.K., a wholly-owned subsidiary, which reflect total assets of constituting 1%, 1% and 1% at January
1, 2021, December 31, 2021 and December 31, 2022, respectively, and total revenues constituting 2% in 2022 and 2% in 2021, of the related
consolidated totals. Those statements were audited by other auditors whose report has been furnished to us, and our opinion, insofar as
it relates to the amounts included for Magic Software Japan K.K., is based solely on the report of the other auditors.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We also have audited, in
accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company&#8217;s internal control
over financial reporting as of December 31, 2022, based on criteria established in Internal Control-Integrated Framework issued by the
Committee of Sponsoring Organizations of the Treadway Commission (2013 framework), and our report dated May 11, 2023 expressed an adverse
opinion thereon.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Basis for Opinion</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">These financial statements
are the responsibility of the Company&#8217;s management. Our responsibility is to express an opinion on the Company&#8217;s financial statements
based on our audits. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the
Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission
and the PCAOB.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We conducted our audits in
accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing
procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures
that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the
financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management,
as well as evaluating the overall presentation of the financial statements. We believe that our audits and the report of other auditors
provide a reasonable basis for our opinion.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Critical Audit Matter</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The critical audit matter
communicated below is a matter arising from the current period audit of the financial statements that was communicated or required to
be communicated to the audit committee and that: (1) relates to accounts or disclosures that are material to the financial statements
and (2) involved our especially challenging, subjective or complex judgments. The communication of critical audit matter does not alter
in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit
matter below, providing a separate opinion on the critical audit matter or on the accounts or disclosures to which it relates.</p><div>




</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 30%">&#160;</td>
    <td style="width: 2%; padding-right: 3.5pt">&#160;</td>
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  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="padding-right: 3.5pt">&#160;</td>
    <td style="font-size: 10pt">&#160;</td></tr>
  <tr style="vertical-align: top">
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    <td>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We identified the evaluation of audit evidence
    over certain revenue streams, as a critical audit matter. The number of revenue streams over various legal entities required a high-degree
    of auditor judgment and extensive audit effort to evaluate the scope and the sufficiency of data used as audit evidence over revenue.
    Subjective auditor judgment was required to evaluate that sufficient data was captured and aggregated throughout these various entities.</p></td></tr>
  <tr style="vertical-align: top">
    <td style="font-size: 10pt">&#160;</td>
    <td style="padding-right: 3.5pt">&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
    <td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif"><i>How We Addressed the Matter in Our Audit</i></span></td>
    <td style="padding-right: 3.5pt">&#160;</td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The primary procedures we performed to address this critical audit matter included the following: We applied auditor judgment to determine scope, nature and extent of procedures to be performed over revenue. We assessed the recorded revenue by selecting a sample of transactions in various legal entities and comparing the amounts recognized for consistency with underlying documentation, such as, contracts with customers and cash received. Finally, we evaluated the overall sufficiency of audit evidence obtained over revenue by assessing the results of procedures performed and the appropriateness of the related disclosures in the consolidated financial statements.</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0">/s/Kost Forer Gabbay and Kasierer</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0">KOST FORER GABBAY &amp; KASIERER</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0">A member of Ernst &amp; Young Global</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have served as the Company&#8217;s auditor since
1984.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Tel-Aviv, Israel</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">May 11, 2023</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Report of Independent Registered Public Accounting
Firm</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To the Shareholders and the Board of Directors
of Magic Software Enterprises Ltd.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Opinion on Internal Control Over Financial
Reporting</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have audited Magic Software
Enterprises Ltd.&#8217;s internal control over financial reporting as of December 31, 2022, based on criteria established in Internal Control&#8212;Integrated
Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework) (the COSO criteria). In our
opinion, based on our audit and the report of other auditors, because of the effect of the material weakness described below on the achievement
of the objectives of the control criteria, Magic Software Enterprises Ltd. (the Company) has not maintained effective internal control
over financial reporting as of December 31, 2022, based on the COSO criteria.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We did not examine the effectiveness
of internal control over financial reporting of Magic Software Japan K.K, a wholly owned subsidiary, whose financial statements reflect
total assets and revenues constituting 1% and 2%, respectively, of the related consolidated financial statement amounts as of and for
the year ended December 31, 2022. The effectiveness of Magic Software Japan K.K.&#8217;s internal control over financial reporting was
audited by other auditors whose report has been furnished to us, and our opinion, insofar as it relates to the effectiveness of Magic
Software Japan K.K.&#8217;s internal control over financial reporting, is based solely on the report of the other auditors.</p><div>




</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As indicated in the accompanying
Management&#8217;s Report on Internal Control Over Financial Reporting, management&#8217;s assessment of and conclusion on the effectiveness
of internal control over financial reporting did not include the internal controls of the business of Appush Ltd. (formerly known as
Vidstart Ltd.), The Goodkind Group, LLC and Intrabases SAS, which are included in the 2022 consolidated financial statements of the Company
and constituted 3.1% and 2.6% of total and net assets, respectively as of December 31, 2022 and 4% and 7.4% of revenues and net income,
respectively, for the year then ended. Our audit of internal control over financial reporting of the Company also did not include an
evaluation of the internal control over financial reporting of the business of Appush Ltd. (formerly known as Vidstart Ltd.), The Goodkind
Group, LLC and Intrabases SAS.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A material weakness is a
deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility
that a material misstatement of the company&#8217;s annual or interim financial statements will not be prevented or detected on a timely
basis. The following material weakness has been identified and included in management&#8217;s assessment. Management has identified the
following material weakness in internal controls:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company did not have
adequate trained resources to retain sufficient and precise documentation as evidence for performing business processes controls (including
automated and IT-dependent manual), management review controls, and evidence to demonstrate completeness and accuracy of information
prepared by entity (&#8220;IPE&#8221;). As a result, the Company could not monitor and oversee the completion of its assessment of the
design and operating effectiveness of internal control over financial reporting in a timely manner.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We also have audited, in accordance
with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated statements of financial
position of the Company as of January 1, 2021, December 31, 2021 and December 31, 2022, the related consolidated statements of profit
or loss, comprehensive income, changes in equity and cash flows for each of the two years in the period ended December 31, 2022, and the
related notes. This material weakness was considered in determining the nature, timing and extent of audit tests applied in our audit
of the 2022 consolidated financial statements, and this report does not affect our report dated May 11, 2023, which expressed an unqualified
opinion thereon, based on our audit and the report of the other auditors.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Basis for Opinion </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company&#8217;s management
is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal
control over financial reporting included in the accompanying Management&#8217;s Annual Report on Internal Control over Financial Reporting.
Our responsibility is to express an opinion on the Company&#8217;s internal control over financial reporting based on our audit. We are a public
accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S.
federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We conducted our audit in
accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance
about whether effective internal control over financial reporting was maintained in all material respects.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our audit included obtaining
an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating
the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered
necessary in the circumstances. We believe that our audit and the report of other auditors provides a reasonable basis for our opinion.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Definition and Limitations of Internal Control
Over Financial Reporting</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A company&#8217;s internal control
over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company&#8217;s internal
control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable
detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance
that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting
principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and
directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition,
use, or disposition of the company&#8217;s assets that could have a material effect on the financial statements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Because of its inherent limitations,
internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness
to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of
compliance with the policies or procedures may deteriorate.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0">/s/Kost Forer Gabbay and Kasierer</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><ix:nonNumeric contextRef="c0" name="dei:AuditorName">KOST FORER GABBAY &amp; KASIERER</ix:nonNumeric></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0">A member of Ernst &amp; Young Global</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><ix:nonNumeric contextRef="c0" name="dei:AuditorLocation">Tel-Aviv, Israel</ix:nonNumeric></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">May 11, 2023</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 119; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="fin_002"></a></div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>CONSOLIDATED
STATEMENTS OF FINANCIAL POSITION</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  </table><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">The accompanying notes are an integral part of
the consolidated financial statements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></p><div>

</div><!-- Field: Page; Sequence: 120; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>CONSOLIDATED
STATEMENTS OF FINANCIAL POSITION</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands (except share and
per share data)</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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    <td>&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -9pt; padding-left: 9pt">&#160;</td><td>&#160;</td>
    <td style="text-align: center">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: center; padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -9pt; padding-left: 9pt">&#160;</td><td>&#160;</td>
    <td style="text-align: center">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; text-indent: -9pt; padding-left: 9pt">COMMITMENTS AND CONTINGENCIES</td><td>&#160;</td>
    <td style="text-align: center">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-2">&#160;</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-3">&#160;</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-4">&#160;</div></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -9pt; padding-left: 9pt">&#160;</td><td>&#160;</td>
    <td style="text-align: center">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -9pt; padding-left: 9pt">EQUITY</td><td>&#160;</td>
    <td style="text-align: center">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; text-indent: -9pt; padding-left: 0.25in">MAGIC SOFTWARE ENTERPRISES LTD shareholders&#8217; equity:</td><td>&#160;</td>
    <td style="text-align: center">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -9pt; padding-left: 0.25in">Share capital:</td><td>&#160;</td>
    <td style="text-align: center">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: center">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; text-indent: -9pt; padding-left: 0.25in">Additional paid-in capital</td><td>&#160;</td>
    <td style="text-align: center">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 0.25in">Retained earnings</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="text-align: center; padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -9pt; padding-left: 9pt">&#160;</td><td>&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">The accompanying notes are an integral part of
the consolidated financial statements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></p><div>

</div><!-- Field: Page; Sequence: 121; Value: 1 --><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><div><a id="fin_003"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">CONSOLIDATED
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</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"></p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><b>U.S. dollars in thousands (except share and per share data) </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td>&#160;</td><td>&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">The accompanying notes are an integral part of
the consolidated financial statements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></p><div>

</div><!-- Field: Page; Sequence: 122; Value: 1 --><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>




</div><div><a id="fin_004"></a></div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><b>CONSOLIDATED
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

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    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: center">&#160;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">The accompanying notes are an integral part of the
consolidated financial statements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><div><a id="fin_005"></a></div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><b>CONSOLIDATED
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><b>U.S. dollars in thousands
(except share and per share data)</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Exercise of options </td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-15">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-17">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-28">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Acquisition of redeemable non-controlling interests </td><td>&#160;</td>
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  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 124; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><b>CONSOLIDATED
STATEMENTS OF CHANGES IN EQUITY</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><b>U.S. dollars in thousands
(except share and per share data)</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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other<br/>
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    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">The accompanying notes are an integral part of the
consolidated financial statements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></p><div>

</div><!-- Field: Page; Sequence: 125; Value: 1 --><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></p><div>




</div><div><a id="fin_006"></a></div><p style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>CONSOLIDATED
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; padding-left: 0.25in; text-indent: -0.25in; text-align: center">&#160;</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.25in; text-indent: -0.25in">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="padding-left: 0.25in; text-indent: -0.25in">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">The accompanying notes are an integral part of
the consolidated financial statements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">CONSOLIDATED
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: left">Net cash used in investing activities</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"><span style="text-decoration:underline">Cash flows from financing activities:</span></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left">Dividend paid to non-controlling interests</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left">Dividend to Magic&#8217;s shareholders</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left">Cash paid due to exercise of put option by non-controlling interests</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: right">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">The accompanying notes are an integral part of
the consolidated financial statements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>


</div><!-- Field: Page; Sequence: 127; Value: 1 --><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">CONSOLIDATED
STATEMENTS OF CASH FLOWS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="font-size: 1pt; border-top: Black 1.5pt solid">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt"><span style="text-decoration:underline">Appendix A</span></td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-decoration: underline; text-align: left">Appendix B</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
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    <td>&#160;</td><td>&#160;</td>
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    <td>&#160;</td><td>&#160;</td>
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    <td>&#160;</td><td>&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">The accompanying notes form an integral part of the consolidated financial
statements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 128; Value: 1 --><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&#160;</p><div>

</div><div><a id="fin_007"></a></div><p style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

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<td style="width: 0in"></td><td style="width: 0.75in; text-align: left">NOTE 1:-</td><td style="text-align: justify">GENERAL</td>
</tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt">&#160;</p></ix:nonNumeric><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory-c0_cont_2" id="_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="font-size: 10pt">MAGIC SOFTWARE ENTERPRISES LTD., an Israeli company (&#8220;the Company&#8221; or &#8220;the Company&#8221;), is a global provider of: (i) proprietary application development and business process integration platforms that accelerate the planning, development, deployment and integration of on-premise, mobile and cloud business applications (&#8220;the Magic Technology&#8221;); (ii) selected packaged vertical software solutions; and (iii) a vendor of software services and IT outsourcing software services.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p></ix:continuation><div>


</div><div>

</div><ix:continuation continuedAt="_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory-c0_cont_3" id="_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Magic Technology enables enterprises
to accelerate the process of delivering business solutions that meet current and future needs and allow customers to dramatically improve
their business performance and return on investment. To complement its software products and to increase its traction with customers,
the Company also offers a complete portfolio of software services in the areas of infrastructure design and delivery, application development,
technology planning and implementation services, communications services and solutions, and supplemental IT professional outsourcing
services. The Company reports its results on the basis of two reportable business segments: software services (which include proprietary
and non-proprietary software solutions, maintenance and support and related services) and IT professional services (see Note 22 for further
details).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory-c0_cont_4" id="_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company&#8217;s principal markets
are the United States, Israel, Europe and Japan (see Note 22).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation id="_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">For information about the Company&#8217;s
holdings in subsidiaries and affiliates, see Appendix to the consolidated financial statements.</p></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory"><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left">NOTE 2:-</td><td style="text-align: justify">SIGNIFICANT ACCOUNTING POLICIES</td>
</tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt">&#160;</p></ix:nonNumeric><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_2" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The following accounting policies
have been applied consistently in the financial statements for all periods presented, unless otherwise stated.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_3" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_2"><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">1)</td><td style="text-align: justify">Basis of presentation of the financial statements</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:nonNumeric></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_4" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_3"><ix:continuation continuedAt="_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory-c0_cont_2" id="_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">These financial statements have been prepared in accordance with International Financial Reporting Standards as issued by the International
Accounting Standards Board (&#8220;IFRS&#8221;).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.2pt; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_5" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_4"><ix:continuation continuedAt="_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory-c0_cont_3" id="_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The financial statements
for the year ended December 31, 2021 were the Company&#8217;s first consolidated financial statements prepared in accordance with IFRS.
The date of transition to IFRS was January 1, 2021. For all periods up to and including the year ended December 31, 2021, the Company
prepared its financial statements in accordance with United States generally accepted accounting principles (&#8220;U.S. GAAP&#8221;).
Accordingly, the Company&#8217;s first consolidated financial statements that comply with IFRS are applicable as of December 31, 2022,
together with the comparative period data for the year ended December 31, 2021 (See also Note 22 to our consolidated financial statements).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_6" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_5"><ix:continuation continuedAt="_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory-c0_cont_4" id="_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Measurement basis:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_7" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_6"><ix:continuation continuedAt="_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory-c0_cont_5" id="_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company&#8217;s
consolidated financial statements are prepared on a cost basis, except for financial assets measured at fair value through other comprehensive
income (&#8220;OCI&#8221;), employee benefit assets and liabilities, and financial assets and liabilities which are presented at fair
value through profit or loss. (See Note 6).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_8" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_7"><ix:continuation id="_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory-c0_cont_5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company has elected
to present the profit or loss items using the function of expense method.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_9" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_8"><ix:nonNumeric contextRef="c0" continuedAt="mgic_DescriptionOfUseOfEstimatesJudgmentAndAssumptionTextBlock-c0_cont_1" escape="true" name="mgic:DescriptionOfUseOfEstimatesJudgmentAndAssumptionTextBlock"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in">2)</td><td style="text-align: justify">Use of estimates, judgments and assumptions:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p></ix:nonNumeric></ix:continuation><div>




</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_10" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_9"><ix:continuation id="mgic_DescriptionOfUseOfEstimatesJudgmentAndAssumptionTextBlock-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The preparation of
the consolidated financial statements requires management to make estimates, judgments, and assumptions, that have an effect on the application
of the accounting policies and on the reported amounts of assets, liabilities, revenues and expenses in the financial statements. Such
judgments, estimates and assumptions are related, but not limited to liabilities in respect of business combinations, goodwill and intangible
assets and their subsequent impairment analysis, determination of fair value of put options of non-controlling interests, legal contingencies,
research and development capitalization as well as amortization periods, classification of leases as well as the determination of the
lease term and the incremental borrowing rate, income tax uncertainties, deferred taxes, share-based compensation, as well as the determination
of revenue recognition from contracts accounted for based on the estimate of percentage of completion, identification of performance
obligations and the determination of the transaction price as well as the standalone selling prices, and evaluating expected credit losses
(&#8220;ECL&#8221;). The Company&#8217;s management believes that the estimates, judgments, and assumptions used, are reasonable based
upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets
and liabilities and disclosure of contingent assets and liabilities at the dates of the consolidated financial statements, and the reported
amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Changes in accounting
estimates are reported in the period of the change in estimate.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"></p><div>

</div><!-- Field: Page; Sequence: 129; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><b>NOTE 2:-</b></td><td style="text-align: justify"><b>SIGNIFICANT ACCOUNTING POLICIES (Cont.)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_11" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_10"><ix:nonNumeric contextRef="c0" continuedAt="mgic_DescriptionOfConsolidatedFinancialStatementTextBlock-c0_cont_1" escape="true" name="mgic:DescriptionOfConsolidatedFinancialStatementTextBlock"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">3)</td><td style="text-align: justify">Consolidated financial statements:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:nonNumeric></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_12" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_11"><ix:continuation continuedAt="mgic_DescriptionOfConsolidatedFinancialStatementTextBlock-c0_cont_2" id="mgic_DescriptionOfConsolidatedFinancialStatementTextBlock-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The consolidated
financial statements comprise the financial statements of companies that are controlled by the Company (subsidiaries). Control is achieved
when the Company is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect
those returns through its power over the investee. Potential voting rights are considered when assessing whether an entity has control.
The consolidation of the financial statements commences on the date on which control is obtained and ends when such control ceases.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_13" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_12"><ix:continuation id="mgic_DescriptionOfConsolidatedFinancialStatementTextBlock-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The financial statements
of the Company and of the subsidiaries are prepared for the same reporting period and using consistent accounting treatment of similar
transactions and economic activities. Significant intragroup balances and transactions and gains or losses resulting from intragroup
transactions are eliminated in full in the consolidated financial statements.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_14" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_13"><ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">4)</td><td style="text-align: justify">Non-controlling interests</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:nonNumeric></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_15" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_14"><ix:continuation id="_DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Non-controlling interests
in subsidiaries, represent the equity in subsidiaries not attributable, directly or indirectly, to a parent. Non-controlling interests
are presented in equity separately from the equity attributable to the equity holders of the Company. Profit or loss and components of
other comprehensive income are attributed to the Company and to non-controlling interests. Losses are attributed to non-controlling interests
even if they result in a negative balance of non-controlling interests in the consolidated statement of financial position. A change
in the ownership interest of a subsidiary, without a loss of control, is accounted for as a change in equity by adjusting the carrying
amount of the non-controlling interests with a corresponding adjustment of the equity attributable to equity holders of the Company less
/ plus the consideration paid or received.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_16" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_15"><ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">5)</td><td style="text-align: justify">Business combinations and goodwill:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.2pt; text-align: justify; text-indent: 0in">&#160;</p></ix:nonNumeric></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_17" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_16"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory-c0_cont_2" id="_DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Business combinations are accounted
for by applying the acquisition method. The cost of the acquisition is measured at the fair value of the consideration transferred on
the acquisition date with the addition of non-controlling interests in the acquiree. In each business combination, the Company chooses
whether to measure the non-controlling interests in the acquiree based on their fair value on the acquisition date or at their proportionate
share in the fair value of the acquiree&#8217;s net identifiable assets.</p><p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; margin: 0pt 0pt 0pt 0.65in; text-align: left">&#160;</p></ix:continuation></ix:continuation><div>




</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_18" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_17"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory-c0_cont_3" id="_DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Direct acquisition costs are carried
to the statement of profit or loss as incurred.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.65in; text-align: left; text-indent: 0pt">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_19" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_18"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory-c0_cont_4" id="_DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">In a business combination achieved
in stages, equity interests in the acquiree that had been held by the acquirer prior to obtaining control are measured at the acquisition
date fair value while recognizing a gain or loss resulting from the revaluation of the prior investment on the date of achieving control.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 130; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><b>NOTE 2:-</b></td><td style="text-align: justify"><b>SIGNIFICANT ACCOUNTING POLICIES (Cont.)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_20" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_19"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory-c0_cont_5" id="_DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">A put option granted by the Group
to non-controlling interests is accounted for using the expected purchase approach under the presumption that the put option will be
exercised, and therefore the parent effectively holds an interest in the subsidiary&#8217;s shares as if the put option had been exercised.
A put option granted by the Group to non-controlling interests for which the consideration to be paid in cash or other financial asset
is recognized as a liability in the amount of the present value of the option&#8217;s exercise price.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 85.05pt 0pt 0; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_21" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_20"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory-c0_cont_6" id="_DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory-c0_cont_5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Contingent consideration is recognized
at fair value on the acquisition date and classified as a financial asset or liability in accordance with IFRS 9. Subsequent changes
in the fair value of the contingent consideration are recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 85.05pt 0pt 0; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_22" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_21"><ix:continuation id="_DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory-c0_cont_6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Goodwill is initially measured at
cost which represents the excess of the acquisition consideration and the amount of non-controlling interests over the net identifiable
assets acquired and liabilities assumed. If the resulting amount is negative, the acquirer recognizes the resulting gain on the acquisition
date.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_23" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_22"><ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="text-align: justify; width: 0.5in"></td><td style="width: 0.25in; text-align: justify">6)</td><td style="text-align: justify">Functional currency, presentation currency and foreign currency:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:nonNumeric></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_24" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_23"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory-c0_cont_2" id="_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="text-align: justify; width: 0.75in"></td><td style="width: 0.25in; text-align: justify">i.</td><td style="text-align: justify">Functional currency and presentation currency:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_25" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_24"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory-c0_cont_3" id="_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The presentation currency of these
financial statements is the U.S dollars (the &#8220;dollar&#8221;), since the Company believes that financial statements in U.S dollars
provide more relevant information to its investors and users of the financial statements. Also, the dollar is the currency of the primary
economic environment in which the Company and certain subsidiaries operate. Thus, the functional and reporting currency of the Company
and certain subsidiaries is the dollar.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_26" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_25"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory-c0_cont_4" id="_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Assets, including fair value adjustments
upon acquisition, and liabilities of an investee which is a foreign operation, are translated at the closing rate at each reporting date.
Profit or loss items are translated at average exchange rates for all periods presented. The resulting translation differences are recognized
in other comprehensive income (loss).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_27" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_26"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory-c0_cont_5" id="_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Intragroup loans for which settlement
is neither planned nor likely to occur in the foreseeable future are, in substance, a part of the investment in the foreign operation
and, accordingly, the exchange rate differences from these loans (net of the tax effect) are recorded in other comprehensive income (loss).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_28" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_27"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory-c0_cont_6" id="_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory-c0_cont_5"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="text-align: justify; width: 0.75in"></td><td style="text-align: justify; width: 0.25in">ii.</td><td style="text-align: justify">Transactions, assets and liabilities in
                                            foreign currency:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_29" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_28"><ix:continuation id="_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory-c0_cont_6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Transactions denominated in foreign
currency are recorded upon initial recognition at the exchange rate at the date of the transaction. After initial recognition, monetary
assets and liabilities denominated in foreign currency are translated at each reporting date into the functional currency at the exchange
rate at that date. Exchange rate differences are recognized in profit or loss. Non-monetary assets and liabilities denominated in foreign
currency and measured at cost are translated at the exchange rate at the date of the transaction. Non-monetary assets and liabilities
denominated in foreign currency and measured at fair value are translated into the functional currency using the exchange rate prevailing
at the date when the fair value was determined.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>


</div><!-- Field: Page; Sequence: 131; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><b>NOTE 2:-</b></td><td style="text-align: justify"><b>SIGNIFICANT ACCOUNTING POLICIES (Cont.)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_30" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_29"><ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">7)</td><td style="text-align: justify">Cash equivalents:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.2pt; text-align: justify">&#160;</p></ix:nonNumeric></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_31" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_30"><ix:continuation id="_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Cash equivalents are considered short-term
highly liquid investments, that are readily convertible to cash with original maturities of three months or less, at acquisition. Cash
and cash equivalents include amounts held primarily in NIS, dollar, Euro, Japanese Yen and British Pound.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_32" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_31"><ix:nonNumeric contextRef="c0" continuedAt="mgic_DescriptionOfShortTermBankDepositsTextBlock-c0_cont_1" escape="true" name="mgic:DescriptionOfShortTermBankDepositsTextBlock"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">8)</td><td style="text-align: justify">Short-term bank deposits:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:nonNumeric></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_33" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_32"><ix:continuation continuedAt="mgic_DescriptionOfShortTermBankDepositsTextBlock-c0_cont_2" id="mgic_DescriptionOfShortTermBankDepositsTextBlock-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Short-term bank deposits
are deposits with an original maturity of more than three months from the date of investment and which do not meet the definition of
cash equivalents. The deposits are presented at a cost (including accrued interest) which approximates their fair value. Restricted deposits
include deposits used to secure certain subsidiaries&#8217; ongoing projects, as well as security deposits with respect to leases, and are
classified under other short-term and long-term receivables.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_34" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_33"><ix:continuation id="mgic_DescriptionOfShortTermBankDepositsTextBlock-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">As of January 1,
2021, December 31, 2021 and 2022, the Company&#8217;s bank deposits are mainly denominated in U.S. dollars and bear yearly interest rates of
mainly&#160;<ix:nonFraction contextRef="c3" decimals="4" format="ixt:num-dot-decimal" name="mgic:InterestRate" scale="-2" unitRef="pure">0.27</ix:nonFraction>%, <ix:nonFraction contextRef="c4" decimals="4" format="ixt:num-dot-decimal" name="mgic:InterestRate" scale="-2" unitRef="pure">0.27</ix:nonFraction>% and&#160;<ix:nonFraction contextRef="c2" decimals="4" format="ixt:num-dot-decimal" name="mgic:InterestRate" scale="-2" unitRef="pure">3.54</ix:nonFraction>%, respectively.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_35" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_34"><ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">9)</td><td style="text-align: justify">Revenue recognition:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:nonNumeric></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_36" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_35"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_2" id="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Revenues are recognized when control
of the promised goods or services are transferred to the customers, in an amount that reflects the consideration that the company expects
to receive in exchange for those goods or services.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_37" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_36"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_3" id="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company determines revenue recognition
through the following steps:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_38" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_37"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_4" id="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_3"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">identification of the contract with a customer;</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_39" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_38"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_5" id="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_4"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">identification of the performance obligations in the contract;</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_40" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_39"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_6" id="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_5"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">determination of the transaction price;</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_41" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_40"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_7" id="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_6"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">allocation of the transaction price to the performance obligations
in the contract; and</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_42" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_41"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_8" id="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_7"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">recognition of revenue when, or as, the Company satisfies
a performance obligation.</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>


</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_43" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_42"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_9" id="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company enters into contracts that
can include various combinations of products, software and professional services, as detailed below, which are generally distinct from
each other and accounted for as separate performance obligations.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_44" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_43"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_10" id="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_9"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company derives its revenues from
licensing the rights to use its software (proprietary and non-proprietary), provision of related professional services, maintenance and
technical support as well as from other software and IT professional services (either fixed price or based on time and materials). The
Company sells its products primarily through direct sales force and indirectly through distributors and value added resellers.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 132; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><b>NOTE 2:-</b></td><td style="text-align: justify"><b>SIGNIFICANT ACCOUNTING POLICIES (Cont.)</b></td>
</tr></table><div>




</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_45" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_44"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_11" id="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_10"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify">Under IFRS 15, an entity recognizes
revenue when or as it satisfies a performance obligation by transferring software license or software related services to the customer,
either at a point in time or over time. When the Company enters into a contract for the sale of software license which does not require
significant implementation services, and the customer receives the rights to use the perpetual or term-based software license, the Company
recognizes revenue from the sale of the software license at the time of delivery, when the customer receives control of the software
license. The software license is considered a distinct performance obligation recognized at a point-in-time, as the customer can benefit
from the software on its own or together with other readily available resources. Revenue from long term contracts which involve significant
implementation, customization, or integration of the Company&#8217;s software license to customer-specific requirements are considered
as one performance obligation satisfied over-time. The underlying deliverable is owned and controlled by the customer and does not create
an asset with an alternative use to the Company. The Company recognizes revenue of such contracts over time using cost inputs, which
recognize revenue and gross profit as work is performed based on a ratio between actual costs incurred compared to the total estimated
costs for the contract, to measure progress toward completion of its performance obligations. Provisions for estimated losses on uncompleted
contracts are made in the period in which such losses are first determined, in the amount of the estimated loss for the entire contract.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_46" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_45"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_12" id="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_11"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify">In addition, the
Company provides professional services that do not involve significant customization to customer-specific specifications (typically staffing
or consulting services). The revenue is recognized as the services are performed, either on a straight-line basis or based on the hours
of services that were provided to the customer, in accordance with the terms of the contracts.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: 0pt">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_47" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_46"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_13" id="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_12"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify">The Company&#8217;s
revenues from post contract support are derived from annual maintenance contracts providing for unspecified upgrades for new versions
and enhancements on a when-and-if-available basis for an annual fee, as well as technical support for software licenses previously sold.
The right for an unspecified upgrade for new versions and enhancements on a when-and-if-available basis do not specify the features,
functionality and release date of future product enhancements for the customer to know what will be made available and the general timeframe
in which it will be delivered. The Company considers the post contract support performance obligation as a distinct performance obligation
that is satisfied over time, and recognized on a straight-line basis over the contractual period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: 0pt">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_48" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_47"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_14" id="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_13"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify">Revenue from professional
services, both related to software and IT professional services businesses consists of either fixed price or time and materials, and
are considered performance obligations that are satisfied over time, and revenues are recognized as the services are provided.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: 0pt">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_49" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_48"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_15" id="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_14"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify">The transaction price
is allocated to the separate performance obligations on a relative standalone selling price basis. Stand-alone selling prices of software
licenses are typically estimated using the residual approach. Stand-alone selling prices of services are typically estimated based on
observable transactions when these services are sold on a standalone basis.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: 0pt">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_50" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_49"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_16" id="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_15"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify">When another party
is involved in providing goods or services to the customer, the Company examines whether the nature of its promise is a performance obligation
to provide the defined goods or services itself, which means the Company is a principal and therefore recognizes revenue in the gross
amount of the consideration, or to arrange that another party provide the goods or services which means the Company is an agent and therefore
recognizes revenue in the amount of the net commission.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"></p><div>

</div><!-- Field: Page; Sequence: 133; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><b>NOTE 2:-</b></td><td style="text-align: justify"><b>SIGNIFICANT ACCOUNTING POLICIES (Cont.)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_51" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_50"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_17" id="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_16"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company is a
principal when it controls the promised goods or services before their transfer to the customer. Indicators that the Company controls
the goods or services before their transfer to the customer include, inter alia, as follows: the Company is responsible for fulfilling
the promises in the contract; the Company has inventory risk before the goods or services are transferred to the customer; and the Company
has discretion in setting the prices of the goods or services.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p></ix:continuation></ix:continuation><div>




</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_52" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_51"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_18" id="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_17"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Revenue from third-party
sales is recorded at a gross or net amount according to certain indicators. The application of these indicators for gross and net reporting
of revenue depends on the relative facts and circumstances of each sale.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_53" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_52"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_19" id="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_18"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company pays
commissions to sales and marketing and certain management personnel based on their attainment of certain predetermined sales or profit
goals. The Company expenses sales commissions as they are incurred when the amortization period would have been less than one year. In
addition, generally, sales commissions which are paid upon contract renewal are commensurate with the initial commissions as the renewal
amounts are substantially identical to the initial commission costs. During the years ended December 31, 2022 and 2021, no costs have
been capitalized.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_54" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_53"><ix:continuation id="_DescriptionOfAccountingPolicyForRecognitionOfRevenue-c0_cont_19"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company does
not assess whether a contract has a significant financing component if the expectation at contract inception is such that the period
between payment by the customer and the transfer of the promised goods or services to the customer will be one year or less.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"><b>&#160;</b></p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_55" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_54"><ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">10)</td><td style="text-align: justify">Income tax:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: 0in">&#160;</p></ix:nonNumeric></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_56" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_55"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-c0_cont_2" id="_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Current or deferred
taxes are recognized in profit or loss, except to the extent that they relate to items which are recognized in other comprehensive income
or equity.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_57" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_56"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-c0_cont_3" id="_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-c0_cont_2"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">Current taxes:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_58" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_57"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-c0_cont_4" id="_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">The current tax
liability is measured using the tax rates and tax laws that have been enacted or substantively enacted by the reporting date as well
as adjustments required in connection with the tax liability in respect of previous years.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_59" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_58"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-c0_cont_5" id="_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-c0_cont_4"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">Deferred taxes:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.95pt; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_60" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_59"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-c0_cont_6" id="_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-c0_cont_5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Deferred taxes
are computed in respect of temporary differences between the carrying amounts in the financial statements and the amounts attributed
for tax purposes. Deferred taxes are measured at the tax rate that is expected to apply when the asset is realized or the liability is
settled, based on tax laws that have been enacted or substantively enacted by the reporting date. Deferred tax assets are reviewed at
each reporting date and reduced to the extent that it is not probable that they will be utilized. Deductible carryforward losses and
temporary differences for which deferred tax assets had not been recognized are reviewed at each reporting date and a respective deferred
tax asset is recognized to the extent that their utilization is probable.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.95pt; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.95pt; text-align: justify; text-indent: 0in"></p><div>

</div><!-- Field: Page; Sequence: 134; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.95pt; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.95pt; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.95pt; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><b>NOTE 2:-</b></td><td style="text-align: justify"><b>SIGNIFICANT ACCOUNTING POLICIES (Cont.)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.95pt; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_61" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_60"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-c0_cont_7" id="_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-c0_cont_6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Taxes that would
apply in the event of the disposal of investments in investees have not been considered in computing deferred taxes, as long as the disposal
of the investments in investees is not probable in the foreseeable future. Also, deferred taxes that would apply in the event of distribution
of earnings by investees as dividends have not been considered in computing deferred taxes, since the distribution of dividends does
not involve an additional tax liability or since it is the Company&#8217;s policy not to initiate distribution of dividends from a subsidiary
that would trigger an additional tax liability.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 46.5pt; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_62" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_61"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-c0_cont_8" id="_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-c0_cont_7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Taxes on income
that relate to distributions of an equity instrument and to transaction costs of an equity transaction are accounted for pursuant to
IAS 12.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p></ix:continuation></ix:continuation><div>




</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_63" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_62"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-c0_cont_9" id="_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-c0_cont_8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Deferred taxes are
offset if there is a legally enforceable right to offset a current tax asset against a current tax liability and the deferred taxes relate
to the same taxpayer and the same taxation authority.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 46.5pt; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_64" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_63"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-c0_cont_10" id="_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-c0_cont_9"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.75in"></td><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Uncertain
                                            tax position:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -0.5in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_65" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_64"><ix:continuation id="_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-c0_cont_10"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">A provision for
uncertain tax positions, including additional tax and interest expenses, is recognized when it is more likely than not that the Company
will have to use its economic resources to pay the obligation.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 46.5pt; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_66" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_65"><ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">11)</td><td style="text-align: justify">Leases:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -0.5in">&#160;</p></ix:nonNumeric></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_67" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_66"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_2" id="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company accounts
for a contract as a lease when the contract terms convey the right to control the use of an identified asset for a period of time in
exchange for consideration.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_68" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_67"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_3" id="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_2"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">i)</td><td style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"><span style="text-decoration:underline">The Company as lessee</span>:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_69" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_68"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_4" id="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">For leases in which
the Company is the lessee, the Company recognizes on the commencement date of the lease a right-of-use asset and a lease liability, excluding
leases whose term is up to twelve months and leases for which the underlying asset is of low value. For these excluded leases, the Company
has elected to recognize the lease payments as an expense in profit or loss on a straight-line basis over the lease term. In measuring
the lease liability, the Company has elected to apply the practical expedient in the Standard and does not separate the lease components
from the non-lease components (such as management and maintenance services, etc.) included in a single contract.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_70" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_69"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_5" id="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Leases which entitle
employees to a company car as part of their employment terms are accounted for as employee benefits in accordance with the provisions
of IAS 19 and not as subleases.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_71" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_70"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_6" id="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">On the commencement
date, the lease liability includes all unpaid lease payments discounted at the interest rate implicit in the lease, if that rate can
be readily determined, or otherwise using the Company&#8217;s incremental borrowing rate. After the commencement date, the Company measures
the lease liability using the effective interest rate method.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"></p><div>

</div><!-- Field: Page; Sequence: 135; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><b>NOTE 2:-</b></td><td style="text-align: justify"><b>SIGNIFICANT ACCOUNTING POLICIES (Cont.)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_72" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_71"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_7" id="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">On the commencement
date, the right-of-use asset is recognized in an amount equal to the lease liability plus lease payments already made on or before the
commencement date and initial direct costs incurred. The right-of-use asset is measured applying the cost model and depreciated over
the shorter of its useful life and the lease term.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_73" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_72"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_8" id="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Following are the
amortization periods of the right-of-use assets by class of underlying asset:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_74" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_73"><ix:nonNumeric contextRef="c0" escape="true" name="ifrs-full:DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_9" id="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_8"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Years</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Mainly</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%; text-align: left; text-indent: -7.1pt; padding-left: 7.15pt">Land and buildings</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: center">&#160;</td><td style="width: 9%; text-align: center"><ix:nonNumeric contextRef="c34" format="ixt-sec:duryear" name="mgic:RightUseOfAsset">1</ix:nonNumeric>&#8211;<ix:nonNumeric contextRef="c35" format="ixt-sec:duryear" name="mgic:RightUseOfAsset">11</ix:nonNumeric></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: center">&#160;</td><td style="width: 9%; text-align: center"><ix:nonNumeric contextRef="c36" format="ixt-sec:duryear" name="mgic:RightUseOfAsset">3</ix:nonNumeric></td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.15pt">Motor vehicles</td><td>&#160;</td>
    <td style="text-align: center">&#160;</td><td style="text-align: center"><ix:nonNumeric contextRef="c37" format="ixt-sec:duryear" name="mgic:RightUseOfAsset">1</ix:nonNumeric>&#8211;<ix:nonNumeric contextRef="c38" format="ixt-sec:duryear" name="mgic:RightUseOfAsset">5</ix:nonNumeric></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: center">&#160;</td><td style="text-align: center"><ix:nonNumeric contextRef="c39" format="ixt-sec:duryear" name="mgic:RightUseOfAsset">3</ix:nonNumeric></td><td style="text-align: left">&#160;</td></tr>
  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:nonNumeric></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_75" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_74"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_10" id="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_9"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">The Company tests
for impairment of the right-of-use asset whenever there are indications of impairment pursuant to the provisions of IAS 36.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -0.5in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_76" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_75"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_11" id="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_10"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">ii)</td><td style="text-align: justify"><span style="text-decoration:underline">Variable lease payments that depend on an index:</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_77" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_76"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_12" id="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_11"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">On the commencement
date, the Company uses the index rate prevailing on the commencement date to calculate the future lease payments.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p></ix:continuation></ix:continuation><div>




</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_78" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_77"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_13" id="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_12"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">For leases in which
the Company is the lessee, the aggregate changes in future lease payments resulting from a change in the index are discounted (without
a change in the discount rate applicable to the lease liability) and recorded as an adjustment of the lease liability and the right-of-use
asset, only when there is a change in the cash flows resulting from the change in the index (that is, when the adjustment to the lease
payments takes effect).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_79" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_78"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_14" id="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_13"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">iii)</td><td style="text-align: justify"><span style="text-decoration:underline">Lease extension and termination options</span>:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_80" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_79"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_15" id="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_14"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">A non-cancelable lease
term includes both the periods covered by an option to extend the lease when it is reasonably certain that the extension option will
be exercised and the periods covered by a lease termination option when it is reasonably certain that the termination option will not
be exercised.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_81" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_80"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_16" id="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_15"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">In the event of any
change in the expected exercise of the lease extension option or in the expected non-exercise of the lease termination option, the Company
remeasures the lease liability based on the revised lease term using a revised discount rate as of the date of the change in expectations.
The total change is recognized in the carrying amount of the right-of-use asset until it is reduced to zero, and any further reductions
are recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"></p><div>

</div><!-- Field: Page; Sequence: 136; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><b>NOTE 2:-</b></td><td style="text-align: justify"><b>SIGNIFICANT ACCOUNTING POLICIES (Cont.)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -0.5in">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_82" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_81"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_17" id="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_16"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">iv)</td><td style="text-align: justify"><span style="text-decoration:underline">Lease modifications</span>:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_83" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_82"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_18" id="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_17"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">If a lease modification
does not reduce the scope of the lease and does not result in a separate lease, the Company remeasures the lease liability based on the
modified lease terms using a revised discount rate as of the modification date and records the change in the lease liability as an adjustment
to the right-of-use asset.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 135.75pt; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_84" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_83"><ix:continuation id="_DescriptionOfAccountingPolicyForLeasesExplanatory-c0_cont_18"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">If a lease modification
reduces the scope of the lease, the Company recognizes a gain or loss arising from the partial or full reduction of the carrying amount
of the right-of-use asset and the lease liability. The Company subsequently remeasures the carrying amount of the lease liability according
to the revised lease terms, at the revised discount rate as of the modification date and records the change in the lease liability as
an adjustment to the right-of-use asset.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_85" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_84"><ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_86" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_85"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-c0_cont_2" id="_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Property, plant and equipment
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equipment that are used in connection with plant and equipment. The cost of an item of property, plant and equipment comprises the
initial estimate of the costs of dismantling and removing the item and restoring the site on which the item is located.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_87" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_86"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-c0_cont_3" id="_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Depreciation is calculated
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_88" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_87"><ix:nonNumeric contextRef="c0" escape="true" name="mgic:ScheduleOfAnnualRatesOfDepreciationTextBlock"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-c0_cont_4" id="_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-c0_cont_3"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><b>Years</b></td><td style="padding-bottom: 1.5pt"><b>&#160;</b></td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:nonNumeric></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_89" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_88"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-c0_cont_5" id="_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Leasehold improvements
are amortized using the straight-line method over the term of the lease (including option terms that are deemed to be reasonably assured)
or the estimated useful life of the improvements, whichever is shorter.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_90" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_89"><ix:continuation id="_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-c0_cont_5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The useful life,
the depreciation method and the residual value of an asset are reviewed at least each year-end (at the end of the year) and any changes
are accounted for prospectively as a change in accounting estimate. Depreciation of an asset ceases at the earlier of the date that the
asset is classified as held for sale and the date that the asset is derecognized.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"></p><div>

</div><!-- Field: Page; Sequence: 137; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><b>NOTE 2:-</b></td><td style="text-align: justify"><b>SIGNIFICANT ACCOUNTING POLICIES (Cont.)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_91" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_90"><ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">13)</td><td style="text-align: justify">Intangible assets:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.2pt; text-align: justify">&#160;</p></ix:nonNumeric></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_92" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_91"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-c0_cont_2" id="_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Separately acquired
intangible assets are measured on initial recognition at cost, including directly attributable costs. Intangible assets acquired in a
business combination are measured at fair value at the acquisition date. Expenditures relating to internally generated intangible assets,
excluding capitalized development costs, are recognized in profit or loss when incurred.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_93" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_92"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-c0_cont_3" id="_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Intangible assets
with a finite useful life are amortized over their useful life and reviewed for impairment whenever there is an indication that the asset
may be impaired. The amortization period and the amortization method for an intangible asset are reviewed at least at each year end.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_94" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_93"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-c0_cont_4" id="_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"><span style="text-decoration:underline">Research and development
expenditures</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_95" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_94"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-c0_cont_5" id="_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Research expenditures
incurred in the process of software development are recognized in profit or loss when incurred. An intangible asset arising from a software
development project or from the development phase of an internal project is recognized if the Company can demonstrate the technical feasibility
of completing the intangible asset so that it will be available for use or sale; the Company&#8217;s intention to complete the intangible
asset and use or sell it; the ability to use or sell the intangible asset; how the intangible asset will generate future economic benefits;
the availability of adequate technical, financial and other resources to complete the intangible asset; and the ability to measure reliably
the respective expenditure asset during its development. The Company establishes technological feasibility upon completion of a detailed
program design or a working model.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_96" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_95"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-c0_cont_6" id="_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-c0_cont_5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Capitalized software
costs are measured at cost less any accumulated amortization and any accumulated impairment losses on a product-by-product basis. Amortization
of capitalized software costs begin when development is complete, and the product is available for use or for sale. The Company considers
a product to be available for use when the Company completes its internal validation of the product that is necessary to establish that
the product meets its design specifications including functions, features, and technical performance requirements. Internal validation
includes the completion of coding, documentation and testing that ensure bugs are reduced to a minimum. The internal validation of the
product takes place a few weeks before the product is made available to the market. In certain instances, the Company enters into a short
pre-release stage, during which the product is made available to a selected number of customers as a beta program for their own review
and familiarization. Subsequently, the release is made generally available to customers. Once a product is considered available for use,
the capitalization of costs ceases and amortization of such costs to &#8220;cost of sales&#8221; begins.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_97" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_96"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-c0_cont_7" id="_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-c0_cont_6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Capitalized software
costs are amortized on a product-by-product basis by the straight-line method over the estimated useful life of the software product
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_98" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_97"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-c0_cont_8" id="_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-c0_cont_7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Research and <ix:nonNumeric contextRef="c0" escape="true" name="mgic:DescriptionOfAdvertisingExpensesTextBlock">development
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</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"></p><div>

</div><!-- Field: Page; Sequence: 138; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><b>NOTE 2:-</b></td><td style="text-align: justify"><b>SIGNIFICANT ACCOUNTING POLICIES (Cont.)</b></td>
</tr></table><div>




</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_99" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_98"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-c0_cont_9" id="_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-c0_cont_8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company assesses
the recoverability of its capitalized software costs on a regular basis by assessing the net realizable value of these intangible assets
based on the estimated future gross revenues from each product reduced by the estimated future costs of completing and disposing of it,
including the estimated costs of performing maintenance and customer support over its remaining economical useful life using internally
generated projections of future revenues generated by the products, cost of completion of products and cost of delivery to customers
over its remaining economical useful life.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_100" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_99"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-c0_cont_10" id="_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-c0_cont_9"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"><span style="text-decoration:underline">Other intangible
assets</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_101" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_100"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-c0_cont_11" id="_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-c0_cont_10"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Intangible assets
excluding capitalized development costs are comprised mainly of customer-related intangible assets, backlogs, acquired technology and
patent, and are amortized over their useful lives using a method of amortization that reflects the pattern in which the economic benefits
of the intangible assets are consumed or otherwise used up. The useful life of intangible assets is as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_102" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_101"><ix:nonNumeric contextRef="c0" escape="true" name="ifrs-full:DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-c0_cont_12" id="_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-c0_cont_11"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 0pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: center; padding-left: 0pt">Years</td></tr>
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    <td style="width: 15%; text-align: center; padding-left: 0pt"><ix:nonNumeric contextRef="c44" name="ifrs-full:DescriptionAndCarryingAmountOfIntangibleAssetsWithIndefiniteUsefulLife">Up to 15</ix:nonNumeric></td></tr>
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    <td style="text-align: justify; padding-left: 0pt">Acquired technology</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 0pt"><ix:nonNumeric contextRef="c45" name="ifrs-full:DescriptionAndCarryingAmountOfIntangibleAssetsWithIndefiniteUsefulLife">Up to 10 (mainly 5)</ix:nonNumeric></td></tr>
  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:nonNumeric></ix:continuation><div>


</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_103" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_102"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-c0_cont_13" id="_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-c0_cont_12"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Gains or losses arising
from the derecognition of an intangible asset are determined as the difference between the net disposal proceeds and the carrying amount
of the asset and are recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_104" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_103"><ix:continuation id="_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory-c0_cont_13"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The useful life of
these assets is reviewed annually to determine whether their indefinite life assessment continues to be supportable. If the events and
circumstances do not continue to support the assessment, the change in the useful life assessment from indefinite to finite is accounted
for prospectively as a change in accounting estimate, and on that date the asset is tested for impairment. Commencing from that date,
the asset is amortized systematically over its useful life.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_105" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_104"><ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">14)</td><td style="text-align: justify">Impairment of non-financial assets:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -0.5in">&#160;</p></ix:nonNumeric></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_106" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_105"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory-c0_cont_2" id="_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company evaluates
the need to record an impairment of non-financial assets (property, plant and equipment, capitalized software costs and other intangible
assets, goodwill) whenever events or changes in circumstances indicate that the carrying amount is not recoverable. If the carrying amount
of non-financial assets exceeds their recoverable amount, the assets are reduced to their recoverable amount. The recoverable amount
is the higher of fair value less costs of sale and value in use. In measuring value in use, the expected future cash flows are discounted
using a pre-tax discount rate that reflects the risks specific to the asset. The recoverable amount of an asset that does not generate
independent cash flows is determined for the cash-generating unit to which the asset belongs. Impairment losses are recognized in profit
or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_107" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_106"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory-c0_cont_3" id="_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">An impairment loss
of an asset, other than goodwill, is reversed only if there have been changes in the estimates used to determine the asset&#8217;s recoverable
amount since the last impairment loss was recognized. Reversal of an impairment loss, as above, shall not be increased above the lower
of the carrying amount that would have been determined (net of depreciation or amortization) had no impairment loss been
recognized for the asset in prior years and its recoverable amount. The reversal of impairment loss of an asset presented at cost is
recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"></p><div>

</div><!-- Field: Page; Sequence: 139; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><b>NOTE 2:-</b></td><td style="text-align: justify"><b>SIGNIFICANT ACCOUNTING POLICIES (Cont.)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_108" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_107"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory-c0_cont_4" id="_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">For the purpose of
impairment testing, goodwill acquired in a business combination is allocated, at the acquisition date, to each of our cash-generating
units that are expected to benefit from the synergies of the combination. The Company reviews goodwill for impairment once a year, on
December 31, or more frequently if events or changes in circumstances indicate that there is an impairment.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_109" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_108"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory-c0_cont_5" id="_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Goodwill is tested
for impairment by assessing the recoverable amount of the cash-generating unit (or group of cash-generating units) to which the goodwill
has been allocated. An impairment loss is recognized if the recoverable amount of the cash-generating unit (or group of cash-generating
units) to which goodwill has been allocated is less than the carrying amount of the cash-generating unit (or group of cash-generating
units). Any impairment loss is allocated first to goodwill. Impairment losses recognized for goodwill cannot be reversed in subsequent
periods.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_110" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_109"><ix:continuation id="_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory-c0_cont_5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">During the years
ended December 31, 2021 and 2022, no impairment loss was identified.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_111" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_110"><ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">15)</td><td style="text-align: justify">Financial instruments:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:nonNumeric></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_112" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_111"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_2" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The accounting policy for financial instruments
in accordance with IFRS 9, &#8220;Financial Instruments&#8221; (&#8220;the Standard&#8221;) is as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_113" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_112"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_3" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_2"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">1.</td><td style="text-align: justify">Financial assets</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_114" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_113"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_4" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Financial assets
are measured upon initial recognition at fair value plus transaction costs that are directly attributable to the acquisition of the financial
assets, except for financial assets measured at fair value through profit or loss in respect of which transaction costs are recorded
in profit or loss.\</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_115" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_114"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_5" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company classifies
and measures debt instruments in the financial statements based on the following criteria:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_116" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_115"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_6" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_5"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">-</td><td style="text-align: justify">The Company&#8217;s business model for managing financial
assets, and;</td>
</tr></table><p style="margin-top: 0; margin-bottom: 0">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_117" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_116"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_7" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_6"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">-</td><td style="text-align: justify">The contractual cash flow terms of the financial asset.</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_118" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_117"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_8" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: left">Impairment of financial assets:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_119" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_118"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_9" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company evaluates
at the end of each reporting period the loss allowance for financial debt instruments which are not measured at fair value through profit
or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_120" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_119"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_10" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_9"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company has short-term
financial assets such as trade receivables in respect of which the Company applies a simplified approach and measures the loss allowance
in an amount equal to the lifetime expected credit losses.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_121" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_120"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_11" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_10"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">An impairment loss
on debt instruments measured at amortized cost is recognized in profit or loss with a corresponding loss allowance that is offset from
the carrying amount of the financial asset.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"></p><div>

</div><!-- Field: Page; Sequence: 140; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><b>NOTE 2:-</b></td><td style="text-align: justify"><b>SIGNIFICANT ACCOUNTING POLICIES (Cont.)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_122" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_121"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_12" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_11"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company has
short-term financial assets such as trade receivables in respect of which the Company applies a simplified approach in IFRS 9 and measures
the loss allowance in an amount equal to the lifetime expected credit losses. Trade receivables include original invoiced amounts less
an allowance for any potential uncollectible amounts and less invoiced amounts from maintenance and professional services contracts which
haven&#8217;t been recognized yet<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">. </span><span style="font-size: 10pt">The
Company makes estimates of expected credit losses for the allowance for doubtful accounts based upon its assessment of various factors,
including historical experience, the age of the trade receivable balances, credit quality of its customers, current economic conditions,
reasonable and supportable forecasts of future economic conditions, and other factors that may affect its ability to collect from customers.
The estimated credit loss allowance is recorded as general and administrative expenses on the Company&#8217;s consolidated statements of profit
or loss. Such allowance charge amounted of $ <ix:nonFraction contextRef="c5" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets" scale="0" unitRef="usd">892</ix:nonFraction> and $ <ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets" scale="0" unitRef="usd">1,778</ix:nonFraction>, respectively for the years ended December 31, 2021 and 2022.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p></ix:continuation></ix:continuation><div>




</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_123" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_122"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_13" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_12"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">2.</td><td style="text-align: justify">Financial liabilities</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 141.75pt; text-align: justify; text-indent: -0.5in"></p></ix:continuation></ix:continuation><div>

</div><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_124" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_123"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_14" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_13"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">a)</td><td style="text-align: justify">Financial liabilities measured at amortized cost:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p></ix:continuation></ix:continuation><div>


</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_125" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_124"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_15" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_14"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Financial liabilities
are initially recognized at fair value less transaction costs that are directly attributable to the issue of the financial liability.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_126" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_125"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_16" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_15"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">After initial recognition,
the Company measures all financial liabilities at amortized cost using the effective interest rate method, except for financial liabilities
at fair value through profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_127" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_126"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_17" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_16"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">b)</td><td style="text-align: justify">Financial liabilities measured at fair value through profit
or loss:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_128" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_127"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_18" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_17"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">At initial recognition,
the Company measures financial liabilities that are not measured at amortized cost at fair value. Transaction costs are recognized in
profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_129" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_128"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_19" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_18"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">After initial recognition,
changes in fair value are recognized in profit or loss, except for put option granted to non-controlling interests.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_130" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_129"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_20" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_19"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Put option granted
to non-controlling interests:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.2pt; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_131" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_130"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_21" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_20"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">When the Company
grants to non-controlling interests a put option to sell part or all of their interests in a subsidiary, during a certain period, even
if such purchase obligation is conditional on the counterparty&#8217;s exercise of its contractual right to cause such redemption, if
the put option agreement does not transfer to the Company any benefits incidental to ownership of the equity instrument (i.e. the Company
does not have a present ownership in the shares concerned) then at the end of each reporting period the non-controlling interests (to
which a portion of net profit attributable to non-controlling interests is allocated) are classified as a financial liability, as if
such put-able equity instrument was redeemed on that date. The difference between the non-controlling interests carrying amount at the
end of the reporting period and the present value of the liability is recognized directly in equity of the Company, under &#8220;Additional
paid-in capital&#8221;.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"></p><div>

</div><!-- Field: Page; Sequence: 141; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><b>NOTE 2:-</b></td><td style="text-align: justify"><b>SIGNIFICANT ACCOUNTING POLICIES (Cont.)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_132" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_131"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_22" id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_21"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">The Company remeasures
the financial liability at the end of each reporting period based on the estimated present value of the consideration to be transferred
upon the exercise of the put option.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_133" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_132"><ix:continuation id="_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-c0_cont_22"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">If the option is
exercised in subsequent periods, the consideration paid upon exercise is treated as settlement of the liability. If the put option expires,
the liability is settled and a portion of the investment in the subsidiary disposed of, without loss of control therein.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_134" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_133"><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfFairValueOfFinancialInstrumentsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">16)</td><td style="text-align: justify">Fair value measurement:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:nonNumeric></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_135" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_134"><ix:continuation continuedAt="_DisclosureOfFairValueOfFinancialInstrumentsExplanatory-c0_cont_2" id="_DisclosureOfFairValueOfFinancialInstrumentsExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Fair value is the
price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at
the measurement date. Fair value measurement is based on the assumption that the transaction will take place in the asset&#8217;s or the liability&#8217;s
principal market, or in the absence of a principal market, in the most advantageous market.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p></ix:continuation></ix:continuation><div>




</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_136" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_135"><ix:continuation continuedAt="_DisclosureOfFairValueOfFinancialInstrumentsExplanatory-c0_cont_3" id="_DisclosureOfFairValueOfFinancialInstrumentsExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The fair value of
an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming
that market participants act in their economic best interest. Fair value measurement of a non-financial asset takes into account a market
participant&#8217;s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market
participant that would use the asset in its highest and best use. The Company uses valuation techniques that are appropriate in the circumstances
and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the
use of unobservable inputs.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -0.5in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_137" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_136"><ix:continuation continuedAt="_DisclosureOfFairValueOfFinancialInstrumentsExplanatory-c0_cont_4" id="_DisclosureOfFairValueOfFinancialInstrumentsExplanatory-c0_cont_3"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.75in">&#160;</td>
    <td style="width: 0.5in; padding-left: 8.5pt; text-indent: -8.5pt; text-align: left">Level 1</td>
    <td style="width: 0.25in; padding-right: 5.4pt; text-align: center; text-indent: 0in">-</td>
    <td style="padding-right: 1.4pt; text-align: justify; text-indent: 0in">quoted prices (unadjusted) in active markets
    for identical assets or liabilities.</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="padding-left: 8.5pt; text-indent: -8.5pt; text-align: left">&#160;</td>
    <td style="padding-right: 5.4pt; text-align: center; text-indent: 0in">&#160;</td>
    <td style="padding-right: 1.4pt; text-align: justify; text-indent: 0in">&#160;</td></tr>
  <tr style="vertical-align: top">
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    <td style="padding-left: 8.5pt; text-indent: -8.5pt; text-align: left">Level 2</td>
    <td style="padding-right: 5.4pt; text-align: center; text-indent: 0in">-</td>
    <td style="padding-right: 1.4pt; text-align: justify; text-indent: 0in">inputs other than quoted prices included within Level 1 that
    are observable directly or indirectly.</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="padding-left: 8.5pt; text-indent: -8.5pt; text-align: left">&#160;</td>
    <td style="padding-right: 5.4pt; text-align: center; text-indent: 0in">&#160;</td>
    <td style="padding-right: 1.4pt; text-align: justify; text-indent: 0in">&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="padding-left: 8.5pt; text-indent: -8.5pt; text-align: left">Level 3</td>
    <td style="padding-right: 5.4pt; text-align: center; text-indent: 0in">-</td>
    <td style="padding-right: 1.4pt; text-align: justify; text-indent: 0in">inputs that are not based on observable market data (valuation
    techniques which use inputs that are not based on observable market data).</td></tr>
  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>
</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_138" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_137"><ix:continuation id="_DisclosureOfFairValueOfFinancialInstrumentsExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">All assets and liabilities
measured at fair value or for which fair value is disclosed are categorized into levels within the fair value hierarchy based on the
lowest level input that is significant to the entire fair value measurement:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_139" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_138"><ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfAccountingPolicyForProvisionsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">17)</td><td style="text-align: justify">Provisions:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: 0in">&#160;</p></ix:nonNumeric></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_140" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_139"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForProvisionsExplanatory-c0_cont_2" id="_DescriptionOfAccountingPolicyForProvisionsExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">A provision in accordance with IAS 37 is recognized when the Company has a present (legal or constructive) obligation as a result of
a past event, it is expected to require the use of economic resources to clear the obligation and a reliable estimate has been made.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: 0in"></p><div>

</div><!-- Field: Page; Sequence: 142; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><b>NOTE 2:-</b></td><td style="text-align: justify"><b>SIGNIFICANT ACCOUNTING POLICIES (Cont.)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_141" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_140"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForProvisionsExplanatory-c0_cont_3" id="_DescriptionOfAccountingPolicyForProvisionsExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Following are the
types of provisions included in the financial statements:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_142" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_141"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForProvisionsExplanatory-c0_cont_4" id="_DescriptionOfAccountingPolicyForProvisionsExplanatory-c0_cont_3"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">i.</td><td style="text-align: justify">Legal claims:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_143" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_142"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForProvisionsExplanatory-c0_cont_5" id="_DescriptionOfAccountingPolicyForProvisionsExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">A provision for claims is recognized
when the Company has a present legal or constructive obligation as a result of a past event, it is more likely than not that an outflow
of resources embodying economic benefits will be required by the Company to settle the obligation and a reliable estimate can be made
of the amount of the obligation.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_144" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_143"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForProvisionsExplanatory-c0_cont_6" id="_DescriptionOfAccountingPolicyForProvisionsExplanatory-c0_cont_5"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">ii.</td><td style="text-align: justify">Contingent liability recognized in a business combination:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_145" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_144"><ix:continuation id="_DescriptionOfAccountingPolicyForProvisionsExplanatory-c0_cont_6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">A contingent liability in a business
combination is measured at fair value upon initial recognition. In subsequent periods, it is measured at the higher of the amount initially
recognized less, when appropriate, cumulative amortization, and the amount that would be recognized at the end of the reporting period
in accordance with IAS 37.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_146" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_145"><ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">18)</td><td style="text-align: justify">Employee benefits:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 74.7pt; text-align: justify; text-indent: 0in">&#160;</p></ix:nonNumeric></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_147" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_146"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory-c0_cont_2" id="_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company maintains
several employee benefit plans:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_148" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_147"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory-c0_cont_3" id="_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory-c0_cont_2"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">i.</td><td style="text-align: justify">Short-term employee benefits:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_149" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_148"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory-c0_cont_4" id="_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Short-term employee
benefits are benefits that are expected to be settled wholly before twelve months after the end of the annual reporting period in which
the employees render the related services. These benefits include salaries, paid annual leave, paid sick leave, recreation and social
security contributions and are recognized as expenses as the services are rendered. A liability in respect of a cash bonus or a profit-sharing
plan is recognized when the Company has a legal or constructive obligation to make such payment as a result of past service rendered
by an employee and a reliable estimate of the amount can be made.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -0.5in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_150" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_149"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory-c0_cont_5" id="_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory-c0_cont_4"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">ii.</td><td style="text-align: justify">Post-employment benefits:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_151" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_150"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory-c0_cont_6" id="_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory-c0_cont_5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The plans are normally
financed by contributions to insurance companies and classified as defined contribution plans or as defined benefit plans.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_152" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_151"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory-c0_cont_7" id="_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory-c0_cont_6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Magic and its Israeli
subsidiaries (as defined with respect to their Israeli employee contribution plans pursuant to section 14 of Israel&#8217;s Severance
Pay Law, 1963 (the &#8220;Severance Pay Law&#8221;)) pay fixed contributions to those plans and will have no legal or constructive obligation
to pay further contributions if the fund into which those contributions are paid does not hold sufficient amounts to pay all employee
benefits relating to employee service in the current and prior periods. Contributions to the defined contribution plan in respect of
severance or retirement pay are recognized as an expense when contributed concurrently with performance of the employee&#8217;s services.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_153" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_152"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory-c0_cont_8" id="_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory-c0_cont_7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Magic and its Israeli
subsidiaries also operate a defined benefit plan in respect of severance or retirement pay to their Israeli employees pursuant to the
Severance Pay Law. According to the Severance Pay Law, employees are entitled to severance pay upon dismissal or retirement.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"></p><div>

</div><!-- Field: Page; Sequence: 143; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><b>NOTE 2:-</b></td><td style="text-align: justify"><b>SIGNIFICANT ACCOUNTING POLICIES (Cont.)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_154" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_153"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory-c0_cont_9" id="_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory-c0_cont_8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">In respect of its
severance pay obligation to certain of its employees, the Company makes current deposits in pension funds and insurance companies (the
&#8220;plan assets&#8221;). Plan assets comprise assets held by a long-term employee benefit fund or qualifying insurance policies. Plan
assets are not available to the Company&#8217;s own creditors and cannot be returned directly to the Company.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_155" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_154"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory-c0_cont_10" id="_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory-c0_cont_9"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The liability for
employee benefits shown in the statement of financial position reflects the present value of the defined benefit obligation, less the
fair value of the plan assets. Remeasurements of the net liability are recognized in other comprehensive income in the period in which
they occur.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_156" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_155"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory-c0_cont_11" id="_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory-c0_cont_10"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company&#8217;s net
obligation for other long-term employee benefits, which is computed based on actuarial assumptions, is for the future benefit due to
employees for services rendered in the current period and in prior periods and considering expected salary increases. The amount of these
benefits is discounted to its present value. The discount rate is determined by reference at the reporting date to market yields on high
quality corporate bonds that are linked to the Consumer Price Index and whose term is consistent with the term of the Company&#8217;s obligation.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_157" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_156"><ix:continuation id="_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory-c0_cont_11"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Remeasurement of
the net obligation is recognized to the statement of comprehensive income in the incurred period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_158" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_157"><ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">19)</td><td style="text-align: justify">Share-based payment:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:nonNumeric></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_159" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_158"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory-c0_cont_2" id="_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company&#8217;s
senior management officers, are entitled to remuneration in the form of equity-settled share-based payment transactions. The cost of
equity-settled transactions with employees is measured at the fair value of the equity instruments granted at grant date. The fair value
is determined using an acceptable option pricing model.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p></ix:continuation></ix:continuation><div>




</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_160" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_159"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory-c0_cont_3" id="_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The cost of equity-settled
transactions is recognized in profit or loss together with a corresponding increase in equity during the period which the performance
and/or service conditions are to be satisfied ending on the date on which the relevant employees become entitled to the award (&#8220;the
vesting period&#8221;). The cumulative expense recognized for equity-settled transactions at the end of each reporting period until the
vesting date reflects the extent to which the vesting period has expired and the Company&#8217;s best estimate of the number of equity instruments
that will ultimately vest.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify; text-indent: -0.5in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_161" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_160"><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory-c0_cont_4" id="_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">No expense is recognized
for awards that do not ultimately vest, except for awards where vesting is conditional upon a market condition, which are treated as
vesting irrespective of whether the market condition is satisfied, provided that all other vesting conditions (service and/or performance)
are satisfied<span style="font-family: Times New Roman, Times, Serif">.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_162" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_161"><ix:continuation id="_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company recognizes
compensation expenses for the value of its awards, which have graded vesting based on the accelerated method over the requisite service
period of each of the awards. The Company accounts for forfeitures as they occur.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"></p><div>

</div><!-- Field: Page; Sequence: 144; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><b>NOTE 2:-</b></td><td style="text-align: justify"><b>SIGNIFICANT ACCOUNTING POLICIES (Cont.)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_163" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_162"><ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">20)</td><td style="text-align: justify">Earnings per share:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -0.5in">&#160;</p></ix:nonNumeric></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_164" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_163"><ix:continuation id="_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Earnings per share
are calculated by dividing the net income attributable to equity holders of the Company by the weighted number of ordinary shares outstanding
during the period. Potential ordinary shares are included in the computation of diluted earnings per share when their conversion decreases
earnings per share from continuing operations. Potential ordinary shares that are converted during the period are included in diluted
earnings per share only until the conversion date and from that date in basic earnings per share. The Company&#8217;s share of earnings of
subsidiaries is included based on its share of earnings per share of the subsidiaries multiplied by the number of shares held by the
Company.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_165" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_164"><ix:nonNumeric contextRef="c0" continuedAt="mgic_DescriptionOfConcentrationOfCreditRiskTextBlock-c0_cont_1" escape="true" name="mgic:DescriptionOfConcentrationOfCreditRiskTextBlock"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">21)</td><td style="text-align: justify">Concentration of credit risk:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:nonNumeric></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_166" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_165"><ix:continuation continuedAt="mgic_DescriptionOfConcentrationOfCreditRiskTextBlock-c0_cont_2" id="mgic_DescriptionOfConcentrationOfCreditRiskTextBlock-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Financial instruments
that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, short-term bank
deposits, trade receivables and foreign currency derivative contracts.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_167" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_166"><ix:continuation continuedAt="mgic_DescriptionOfConcentrationOfCreditRiskTextBlock-c0_cont_3" id="mgic_DescriptionOfConcentrationOfCreditRiskTextBlock-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The majority of the
Company&#8217;s cash and cash equivalents, bank deposits and other financial instruments are invested with major banks in Israel, the United
States and across Europe. Management believes that these financial instruments are held in financial institutions with high credit standing,
and accordingly, minimal credit risk exists with respect to these investments. Cash and cash equivalents and short-term deposits in the
United States may be in excess of insured limits and are not insured in other jurisdictions. Generally, these banks deposits may be redeemed
upon demand and therefore bear minimal risk.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_168" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_167"><ix:continuation continuedAt="mgic_DescriptionOfConcentrationOfCreditRiskTextBlock-c0_cont_4" id="mgic_DescriptionOfConcentrationOfCreditRiskTextBlock-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company&#8217;s trade
receivables are generally derived from sales to large organizations located mainly in Israel, North America, Europe and Asia Pacific.
The Company performs ongoing credit evaluations of its customers using a reliable outside source to determine payment terms and credit
limits which are approved based on the size of the customer and to date has not experienced any material losses. In certain circumstances,
Magic and its subsidiaries may require letters of credit or other collateral or additional guarantees.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_169" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_168"><ix:continuation id="mgic_DescriptionOfConcentrationOfCreditRiskTextBlock-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company maintains
an allowance for credit losses based upon management&#8217;s experience and estimate of collectability of each outstanding invoice. The allowance
for credit losses is determined with respect to specific debts or which collection is doubtful. The risk of collection associated with
accounts receivable is mitigated by the diversity and number of customers.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_170" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_169"><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfLiquidityRiskExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfLiquidityRiskExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">22)</td><td style="text-align: justify">Liquidity risk:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:nonNumeric></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_171" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_170"><ix:continuation continuedAt="_DisclosureOfLiquidityRiskExplanatory-c0_cont_2" id="_DisclosureOfLiquidityRiskExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Liquidity risk arises
from managing the Company&#8217;s working capital as well as from financial expenses and principal payments of the Company&#8217;s debt instruments.
Liquidity risk consists of the risk that the Company will have difficulty in fulfilling obligations relating to financial liabilities.
The Company&#8217;s policy is to ascertain constant cash adequacy needed for settling its liabilities when due. For this purpose, the Company
aims to hold cash balances (or adequate credit lines) that will meet anticipated demands.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"></p><div>

</div><!-- Field: Page; Sequence: 145; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><b>NOTE 2:-</b></td><td style="text-align: justify"><b>SIGNIFICANT ACCOUNTING POLICIES (Cont.)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_172" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_171"><ix:continuation id="_DisclosureOfLiquidityRiskExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Magic and its subsidiaries
examine cash flow forecasts on a monthly basis as well as information regarding cash balances. As of the reporting date, these forecasts
indicate that the Company can expect sufficient liquid sources for covering its entire liabilities under reasonable assumptions.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_173" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_172"><ix:nonNumeric contextRef="c0" continuedAt="mgic_DescriptionOfReclassificationOfPriorYearsPresentation-c0_cont_1" escape="true" name="mgic:DescriptionOfReclassificationOfPriorYearsPresentation"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px">&#160;</td> <td style="width: 24px; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">23)</span></td> <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassification of prior years presentation</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:nonNumeric></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_174" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_173"><ix:continuation id="mgic_DescriptionOfReclassificationOfPriorYearsPresentation-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Certain prior year amounts have been
reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -0.5in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_175" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_174"><ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">24)</td><td style="text-align: justify">Disclosure of new standards in the period prior to their
adoption</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -0.5in">&#160;</p></ix:nonNumeric></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_176" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_175"><ix:continuation continuedAt="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_2" id="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_1"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">a.</td><td style="text-align: justify">Amendment to IAS 1, &#8220;Presentation of Financial Statements&#8221;:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_177" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_176"><ix:continuation continuedAt="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_3" id="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">In January 2020, the IASB issued
an amendment to IAS 1, &#8220;Presentation of Financial Statements&#8221; regarding the criteria for determining the classification of
liabilities as current or non-current (&#8220;the Original Amendment&#8221;). In October 2022, the IASB issued a subsequent amendment (&#8220;the
Subsequent Amendment&#8221;).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_178" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_177"><ix:continuation continuedAt="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_4" id="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">According to the Subsequent Amendment:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_179" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_178"><ix:continuation continuedAt="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_5" id="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_4"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">Only covenants with which an entity must comply on or before
the reporting date will affect a liability&#8217;s classification as current or non-current.</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_180" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_179"><ix:continuation continuedAt="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_6" id="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_5"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">An entity should provide disclosure when a liability arising
from a loan agreement is classified as non-current and the entity&#8217;s right to defer settlement is contingent on compliance with future
covenants within twelve months from the reporting date. This disclosure is required to include information about the covenants and the
related liabilities. The disclosures must include information about the nature of the future covenants and when compliance is applicable,
as well as the carrying amount of the related liabilities. The purpose of this information is to allow users to understand the nature
of the future covenants and to assess the risk that a liability classified as non-current could become repayable within twelve months.
Furthermore, if facts and circumstances indicate that an entity may have difficulty in complying with such covenants, those facts and
circumstances should be disclosed.</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -0.5in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_181" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_180"><ix:continuation continuedAt="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_7" id="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">According to the Original Amendment,
the conversion option of a liability affects the classification of the entire liability as current or non-current unless the conversion
component is an equity instrument.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p></ix:continuation></ix:continuation><div>




</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_182" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_181"><ix:continuation continuedAt="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_8" id="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Original Amendment and Subsequent
Amendment are both effective for annual periods beginning on or after January 1, 2024 and must be applied retrospectively. Early application
is permitted.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 146; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><b>NOTE 2:-</b></td><td style="text-align: justify"><b>SIGNIFICANT ACCOUNTING POLICIES (Cont.)</b></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_183" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_182"><ix:continuation continuedAt="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_9" id="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company estimates that the Amendments
are not expected to have a material impact on its financial statements.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_184" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_183"><ix:continuation continuedAt="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_10" id="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_9"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.75in"></td><td style="width: 0.25in">b.</td><td style="text-align: justify">Amendment to IAS 8, &#8220;Accounting Policies,
                                            Changes to Accounting Estimates and Errors&#8221;:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_185" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_184"><ix:continuation continuedAt="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_11" id="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_10"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">In February 2021, the IASB issued
an amendment to IAS 8, &#8220;Accounting Policies, Changes to Accounting Estimates and Errors&#8221; (&#8220;the Amendment&#8221;), in which
it introduces a new definition of &#8220;accounting estimates&#8221;.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_186" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_185"><ix:continuation continuedAt="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_12" id="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_11"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Accounting estimates are defined
as &#8220;monetary amounts in financial statements that are subject to measurement uncertainty&#8221;. The Amendment clarifies the distinction
between changes in accounting estimates and changes in accounting policies and the correction of errors.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_187" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_186"><ix:continuation continuedAt="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_13" id="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_12"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Amendment is to be applied prospectively
for annual reporting periods beginning on or after January 1, 2023 and is applicable to changes in accounting policies and changes in
accounting estimates that occur on or after the start of that period. Early application is permitted.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_188" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_187"><ix:continuation continuedAt="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_14" id="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_13"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company estimates that the initial
application of the Amendment is not expected to have a material impact on its financial statements.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_189" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_188"><ix:continuation continuedAt="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_15" id="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_14"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">c.</td><td style="text-align: justify">Amendment to IAS 12, &#8220;Income Taxes&#8221;:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_190" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_189"><ix:continuation continuedAt="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_16" id="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_15"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">In May 2021, the IASB issued an amendment
to IAS 12, &#8220;Income Taxes&#8221; (&#8220;IAS 12&#8221;), which narrows the scope of the initial recognition exception under IAS 12.15
and IAS 12.24 (&#8220;the Amendment&#8221;).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_191" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_190"><ix:continuation continuedAt="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_17" id="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_16"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">According to the recognition guidelines
of deferred tax assets and liabilities, IAS 12 excludes recognition of deferred tax assets and liabilities in respect of certain temporary
differences arising from the initial recognition of certain transactions. This exception is referred to as the &#8220;initial recognition
exception&#8221;. The Amendment narrows the scope of the initial recognition exception and clarifies that it does not apply to the recognition
of deferred tax assets and liabilities arising from transactions that are not a business combination and that give rise to equal taxable
and deductible temporary differences, even if they meet the other criteria of the initial recognition exception.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_192" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_191"><ix:continuation continuedAt="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_18" id="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_17"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Amendment applies for annual
reporting periods beginning on or after January 1, 2023, with earlier application permitted. In relation to leases and decommissioning
obligations, the Amendment is to be applied commencing from the earliest reporting period presented in the financial statements in which
the Amendment is initially applied. The cumulative effect of the initial application of the Amendment should be recognized as an adjustment
to the opening balance of retained earnings (or another component of equity, as appropriate) at that date.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_193" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_192"><ix:continuation continuedAt="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_19" id="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_18"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company estimates that the initial
application of the Amendment is not expected to have a material impact on its financial statements.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->33<!-- Field: /Sequence --></p></div><div>
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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><b>NOTE 2:-</b></td><td style="text-align: justify"><b>SIGNIFICANT ACCOUNTING POLICIES (Cont.)</b></td>
</tr></table><div>




</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_194" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_193"><ix:continuation continuedAt="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_20" id="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_19"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">d.</td><td style="text-align: justify">Amendment to IAS 1 - Disclosure of Accounting Policies:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_195" id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_194"><ix:continuation continuedAt="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_21" id="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_20"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">In February 2021, the IASB issued
an amendment to IAS 1, &#8220;Presentation of Financial Statements&#8221; (&#8220;the Amendment&#8221;), which replaces the requirement to
disclose &#8216;significant&#8217; accounting policies with a requirement to disclose &#8216;material&#8217; accounting policies. One of the main reasons for
the Amendment is the absence of a definition of the term &#8216;significant&#8217; in IFRS whereas the term &#8216;material&#8217; is defined in several standards
and particularly in IAS&#160;1.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation id="_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-c0_cont_195"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><ix:continuation id="_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations-c0_cont_21">The Amendment is applicable for annual
periods beginning on or after January 1, 2023.</ix:continuation> Early application is permitted.</p></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfBusinessCombinationsExplanatory"><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><span style="font-size: 10pt"><b>NOTE 3:-</b></span></td><td style="text-align: justify"><span style="font-size: 10pt"><b>BUSINESS COMBINATIONS</b></span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:nonNumeric><div>
</div><div>

</div><ix:continuation continuedAt="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_2" id="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.5in"><span style="text-decoration:underline">Current year
acquisitions</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_3" id="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_2"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">a.</span></td><td style="text-align: justify">On December 2, 2021, the Company entered into a Share Purchase Agreement
(&#8220;the Agreement&#8221;) to acquire <ix:nonFraction contextRef="c46" decimals="3" format="ixt:num-dot-decimal" name="mgic:OutstandingSharePercentage" scale="-2" unitRef="pure">50.1</ix:nonFraction>% of the outstanding share capital of Appush Ltd. (formerly known as Vidstart Ltd.) (&#8220;Appush&#8221;),
a provider of a video advertising platform that offers personalized automated methods and real-time smart optimization, helping its clients
achieve high yields in the competitive digital ecosystem, for $ <ix:nonFraction contextRef="c46" decimals="0" format="ixt:num-dot-decimal" name="mgic:CompetitiveDigitalEcosystem" scale="0" unitRef="usd">21,492</ix:nonFraction>. Of which, $ <ix:nonFraction contextRef="c47" decimals="0" format="ixt:num-dot-decimal" name="mgic:ClosingPayment" scale="0" unitRef="usd">11,042</ix:nonFraction> was paid upon closing. The final closing and
execution of the Agreement occurred on January 27, 2022. In addition, the Company paid $<ix:nonFraction contextRef="c46" decimals="-5" format="ixt:num-dot-decimal" name="mgic:AdvancePaymentForFutureAcquisition" scale="6" unitRef="usd">1.5</ix:nonFraction> million as an advance payment for future acquisition
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shares in stages until it will hold <ix:nonFraction contextRef="c48" decimals="2" format="ixt:num-dot-decimal" name="mgic:PurchaseOfSharesHoldingPercentage" scale="-2" unitRef="pure">100</ix:nonFraction>% of Appush&#8217;s shares on or before December 31, 2026. This obligation was accounted for as
a financial liability measured at its fair value as of the acquisition date of $<ix:nonFraction contextRef="c48" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate" scale="0" unitRef="usd">10,450</ix:nonFraction>. The fair value of the financial liability at December
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of its shares.</td>
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_4" id="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.75in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">The results of operations were included in the consolidated financial statements of the Company commencing January 27, 2022.</p><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&#160;</p></ix:continuation><div>

</div><div>

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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_6" id="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_5"><ix:nonNumeric contextRef="c61" escape="true" name="mgic:DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_7" id="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The goodwill from the acquisition of Appush is
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</div><div>

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closing. The remainder constitutes a deferred payment payable in 2023 and 2024. TGG provides permanent and temporary staffing needs in
various sectors including: Information Technology, Accounting &amp; Finance, Digital Media, Marketing, Human Resource, Financial Services.
TGG specializes in customizing solutions and programs to their clients. With On-Site programs and sourcing models the Company solutions
includes functions which differs from standard staffing companies. TGG provides assistance in the areas of compensation design and development,
employee opinion surveys, employment policies and practices, performance management, regulatory and compliance issues and succession
planning,</td>
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_9" id="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_8"><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.75in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">The results of operations were included in the consolidated financial statements of the Company commencing August 23, 2022.</p><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&#160;</p></ix:continuation><div>

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</div><div>

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</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 148; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><span style="font-size: 10pt"><b>NOTE 3:-</b></span></td><td style="text-align: justify"><span style="font-size: 10pt"><b>BUSINESS COMBINATIONS (Cont.)</b></span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_12" id="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_11"><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.75in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">The goodwill from the acquisition of TGG is primarily
attributable to potential synergy with Magic, as well as certain intangible assets that do not qualify for separate recognition.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_13" id="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_12"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">c.</span></td><td style="text-align: justify">On July 1, 2022, the Company acquired Intrabases SAS (&#8220;Intrabases&#8221;),
a provider of IT professional services based in Nantes, France. The consideration of the transaction is comprised solely from a cash
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_14" id="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_13"><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.75in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">The results of operations were included in the consolidated financial statements of the Company commencing July 1, 2022. &#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&#160;</p></ix:continuation><div>

</div><div>

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</div><div>

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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_17" id="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_16"><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">The goodwill from the acquisition of Intrabases is primarily attributable
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deductible for income tax purposes.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_18" id="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_17"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The estimated fair values of the tangible and
intangible assets pertaining to the acquisition of Intrabases are provisional and are based on information that was available as of the
acquisition date to estimate the fair value of these amounts. The Company&#8217;s management believes the information provides a reasonable
basis for estimating the fair values of these amounts, but is waiting for additional information necessary to finalize those fair values.
Therefore, provisional measurements of fair value reflected are subject to change. The Company expects to finalize the tangible and intangible
assets valuation and complete the acquisition accounting as soon as practicable but no later than the measurement period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

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<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">d.</span></td><td style="text-align: justify">During 2022 the Company entered into two separate Asset Purchase
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for in accordance with IFRS 3. These aforementioned acquisitions are immaterial, both individually and in aggregate. The total consideration
paid for these acquisitions was $ <ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:ConsiderationPaidReceived" scale="0" unitRef="usd">1,753</ix:nonFraction>.</td>
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_20" id="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_19"><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.75in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisitions:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation><div>


</div><div>

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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_22" id="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_21"><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.75in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">The goodwill from these acquisitions is primarily
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><span style="font-size: 10pt"><b>NOTE 3:-</b></span></td><td style="text-align: justify"><span style="font-size: 10pt"><b>BUSINESS COMBINATIONS (Cont.)</b></span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_23" id="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_22"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.5in"><span style="text-decoration:underline">Previous year
acquisitions</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_24" id="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_23"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.75in; text-align: justify">&#160;</td> <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">a.</span></td> <td style="text-align: justify"><span style="font-size: 10pt">On April 1, 2021, the Company acquired EnableIT, LLC (&#8220;EnableIT&#8221;), a U.S.-based services company, specializes in IT staffing and recruiting, for a total consideration of $ <ix:nonFraction contextRef="c53" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred" scale="0" unitRef="usd">6,000</ix:nonFraction> of which $&#160;<ix:nonFraction contextRef="c54" decimals="0" format="ixt:num-dot-decimal" name="mgic:ClosingPayment" scale="0" unitRef="usd">4,000</ix:nonFraction> was paid upon closing and the remaining $&#160;<ix:nonFraction contextRef="c55" decimals="0" format="ixt:num-dot-decimal" name="mgic:EqualInstallments" scale="0" unitRef="usd">2,000</ix:nonFraction> were paid in two equal installments in April 1, 2022 and 2023. Acquisition related costs were immaterial. The acquisition was accounted for according to the purchase method.</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation><div>
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</div><ix:continuation continuedAt="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_25" id="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_24"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The results of operations were included
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</div><div>

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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_28" id="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_27"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The goodwill from the acquisition of
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_29" id="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_28"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 72px; text-align: justify">&#160;</td> <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">b.</span></td> <td style="text-align: justify"><span style="font-size: 10pt">On April 1, 2021, the Company acquired Menarva Ltd. (&#8220;Menarva&#8221;), an Israeli-based services company which specializes in software solutions for non-profit organizations for a total consideration of $<ix:nonFraction contextRef="c56" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred" scale="0" unitRef="usd">5,595</ix:nonFraction>. Of which, $<ix:nonFraction contextRef="c57" decimals="0" format="ixt:num-dot-decimal" name="mgic:ClosingPayment" scale="0" unitRef="usd">3,000</ix:nonFraction> was paid upon closing. The remaining amount constitutes a contingent payment depending on the future operating results achieved by Menarva. The acquisition date fair value of the contingent consideration amounted to $<ix:nonFraction contextRef="c53" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:ContingentConsiderationRecognisedAsOfAcquisitionDate" scale="0" unitRef="usd">2,595</ix:nonFraction>. On March 31, 2022, the Company paid $<ix:nonFraction contextRef="c58" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:SettlementOfLiabilitiesByEntityOnBehalfOfRelatedPartyRelatedPartyTransactions" scale="0" unitRef="usd">1,055</ix:nonFraction> to settle a portion of the aforementioned contingent consideration. Acquisition related costs were immaterial. The acquisition was accounted for according to the purchase method.</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation><div>
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</div><ix:continuation continuedAt="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_30" id="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_29"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The results of operations were included
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_31" id="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_30"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The following table summarizes the estimated
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_32" id="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_31"><ix:nonNumeric contextRef="c73" escape="true" name="mgic:DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_33" id="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_32"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The goodwill from the acquisition of
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</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 150; Value: 1 --><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><span style="font-size: 10pt"><b>NOTE 3:-</b></span></td><td style="text-align: justify"><span style="font-size: 10pt"><b>BUSINESS COMBINATIONS (Cont.)</b></span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_35" id="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_34"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The results of operations were included
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_36" id="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_35"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The following table summarizes the estimated
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_37" id="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_36"><ix:nonNumeric contextRef="c74" escape="true" name="mgic:DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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</div><div>

</div><ix:continuation id="_DisclosureOfBusinessCombinationsExplanatory-c0_cont_37"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The goodwill from the acquisition of
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recognition. The goodwill is not deductible for income tax purposes.</p></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfCashAndCashEquivalentsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory"><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><b>NOTE 4:-</b></td><td style="text-align: justify"><b>CASH AND CASH EQUIVALENTS</b></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -0.25in">&#160;</p></ix:nonNumeric><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -0.25in"></p><div>

</div><ix:continuation id="_DisclosureOfCashAndCashEquivalentsExplanatory-c0_cont_1"><ix:nonNumeric contextRef="c0" escape="true" name="ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="mgic_DisclosureOfOtherAccountsReceivableAndPrepaidExpensesTextBlock-c0_cont_1" escape="true" name="mgic:DisclosureOfOtherAccountsReceivableAndPrepaidExpensesTextBlock"><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><b>NOTE 5:-</b></td><td style="text-align: justify"><b>OTHER ACCOUNTS RECEIVAVABLE AND PREPAID EXPESNES</b></td>
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</div><div>

</div><ix:continuation continuedAt="mgic_DisclosureOfOtherAccountsReceivableAndPrepaidExpensesTextBlock-c0_cont_2" id="mgic_DisclosureOfOtherAccountsReceivableAndPrepaidExpensesTextBlock-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The following table summarizes
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</div><div>

</div><ix:continuation id="mgic_DisclosureOfOtherAccountsReceivableAndPrepaidExpensesTextBlock-c0_cont_2"><ix:nonNumeric contextRef="c0" escape="true" name="mgic:DisclosureOfAOtherAccountsReceivableAndPrepaidExpensesTableTexBlock"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"></p><div>

</div><!-- Field: Page; Sequence: 151; Value: 1 --><div>
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    </div><!-- Field: /Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="margin: 0">&#160;</p><div>

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<td style="width: 0in"></td><td style="width: 0.75in; text-align: left">NOTE 6:- </td><td style="text-align: justify">FAIR VALUE MEASUREMENT</td>
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</div><div>

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</div><div>

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</div><div>

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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfFairValueMeasurementExplanatory-c0_cont_7" id="_DisclosureOfFairValueMeasurementExplanatory-c0_cont_6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">There were no Level 1 or Level
2 instruments during neither of the reported periods.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"><span style="font-weight: normal">&#160;</span></p></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"></p><div>

</div><!-- Field: Page; Sequence: 152; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence --></p></div><div>
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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"><span style="font-weight: normal">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"><span style="font-weight: normal">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"></p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
<tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="text-align: left; width: 0.75in">NOTE 6:- </td><td style="text-align: justify">FAIR VALUE MEASUREMENT (Cont.)</td>
</tr>
</table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"><span style="font-weight: normal">&#160;</span></p><div>

</div><ix:continuation continuedAt="_DisclosureOfFairValueMeasurementExplanatory-c0_cont_8" id="_DisclosureOfFairValueMeasurementExplanatory-c0_cont_7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The movement in the liability
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfFairValueMeasurementExplanatory-c0_cont_9" id="_DisclosureOfFairValueMeasurementExplanatory-c0_cont_8"><ix:nonNumeric contextRef="c0" escape="true" name="mgic:ScheduleOfLiabilitiesInRespectOfTheBusinessCombinationsTableTextBlock"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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</div><ix:continuation continuedAt="_DisclosureOfFairValueMeasurementExplanatory-c0_cont_10" id="_DisclosureOfFairValueMeasurementExplanatory-c0_cont_9"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The financial assets and liabilities
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</div><ix:continuation id="_DisclosureOfFairValueMeasurementExplanatory-c0_cont_10"><ix:nonNumeric contextRef="c0" escape="true" name="srt:ScheduleOfCondensedBalanceSheetTableTextBlock"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Financial liabilities measured at amortized cost:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left; padding-bottom: 1.5pt">Lease liabilities</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1.5pt">Total financial liabilities measured at amortized cost:</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt">Total financial and lease liabilities</td><td style="padding-bottom: 4pt">&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></p><div>

</div><!-- Field: Page; Sequence: 153; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->39<!-- Field: /Sequence --></p></div><div>
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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><span style="text-transform: none">&#160;</span></p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfPropertyPlantAndEquipmentExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory"><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left">NOTE 7:- </td><td style="text-align: justify">PROPERTY, PLANTS AND EQUIPMENT, NET</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt">&#160;</p></ix:nonNumeric><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfPropertyPlantAndEquipmentExplanatory-c0_cont_2" id="_DisclosureOfPropertyPlantAndEquipmentExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Composition and movement:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfPropertyPlantAndEquipmentExplanatory-c0_cont_3" id="_DisclosureOfPropertyPlantAndEquipmentExplanatory-c0_cont_2"><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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                                                                                <p style="margin-top: 0; margin-bottom: 0">peripheral<br/>
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  <tr style="vertical-align: bottom">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Cost:</td><td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Accumulated depreciation:</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Additions during the year:</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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</div><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"></p><div>

</div><!-- Field: Page; Sequence: 154; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->40<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><span style="text-transform: none">&#160;</span></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left">NOTE 7:- </td><td style="text-align: justify">PROPERTY, PLANTS AND EQUIPMENT, NET (Cont.)</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt">&#160;</p><div>

</div><ix:continuation id="_DisclosureOfPropertyPlantAndEquipmentExplanatory-c0_cont_3"><ix:continuation id="_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Accumulated depreciation:</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"></p><div>

</div><!-- Field: Page; Sequence: 155; Value: 1 --><div>
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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"><span style="font-size: 8pt">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"><span style="font-size: 8pt">&#160;</span></p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"><span style="font-size: 8pt">&#160;</span></p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory"><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><span style="text-transform: uppercase">NotE 8:-</span></td><td style="text-align: justify"><span style="text-transform: uppercase">Intangible
                                            Assets, Net</span></td>
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory-c0_cont_2" id="_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Composition and movement:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt"><span style="font-size: 8pt">&#160;</span></p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory-c0_cont_3" id="_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory-c0_cont_2"><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfIntangibleAssetsMaterialToEntityExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfIntangibleAssetsMaterialToEntityExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    technology</b></span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal"><b>&#160;</b></span></td><td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"><span style="font-size: 9pt; font-style: normal"><b>&#160;</b></span></td>
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: center"><span style="font-size: 9pt; font-style: normal"><b>Total</b></span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal"><b>&#160;</b></span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">Cost:</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td colspan="2" style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td colspan="2" style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td colspan="2" style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td colspan="2" style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td colspan="2" style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; width: 50%; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">Balance
    as of January&#160;1, 2022</span></td><td style="font-style: normal; width: 1%; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="font-style: normal; width: 7%; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal"><ix:nonFraction contextRef="c109" decimals="-3" format="ixt:num-dot-decimal" name="mgic:GoodwillandOtherIntangibleAssetCost" scale="3" unitRef="usd">90,101</ix:nonFraction></span></td><td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; width: 1%; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="font-style: normal; width: 7%; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal"><ix:nonFraction contextRef="c110" decimals="-3" format="ixt:num-dot-decimal" name="mgic:GoodwillandOtherIntangibleAssetCost" scale="3" unitRef="usd">86,651</ix:nonFraction></span></td><td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; width: 1%; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="font-style: normal; width: 7%; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal"><ix:nonFraction contextRef="c111" decimals="-3" format="ixt:num-dot-decimal" name="mgic:GoodwillandOtherIntangibleAssetCost" scale="3" unitRef="usd">18,371</ix:nonFraction></span></td><td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; width: 1%; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="font-style: normal; width: 7%; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal"><ix:nonFraction contextRef="c112" decimals="-3" format="ixt:num-dot-decimal" name="mgic:GoodwillandOtherIntangibleAssetCost" scale="3" unitRef="usd">637</ix:nonFraction></span></td><td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; width: 1%; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="font-style: normal; width: 7%; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal"><ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" name="mgic:GoodwillandOtherIntangibleAssetCost" scale="3" unitRef="usd">195,760</ix:nonFraction></span></td><td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">Capitalized
    development costs</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal"><ix:nonFraction contextRef="c113" decimals="-3" format="ixt:num-dot-decimal" name="mgic:CapitalizedDevelopmentCosts" scale="3" unitRef="usd">3,059</ix:nonFraction></span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">-</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">-</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">-</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal"><ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="mgic:CapitalizedDevelopmentCosts" scale="3" unitRef="usd">3,059</ix:nonFraction></span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">Purchase
    of intangible asset</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="-sec-ix-hidden: hidden-fact-72; font-size: 9pt; font-style: normal; font-weight: normal">-</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal"><ix:nonFraction contextRef="c114" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" scale="3" unitRef="usd">219</ix:nonFraction></span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="-sec-ix-hidden: hidden-fact-73; font-size: 9pt; font-style: normal; font-weight: normal">-</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="-sec-ix-hidden: hidden-fact-74; font-size: 9pt; font-style: normal; font-weight: normal">-</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal"><ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" scale="3" unitRef="usd">219</ix:nonFraction></span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal">
    <td style="font-style: normal; text-indent: -0.125in; padding-left: 0.125in; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">Acquisition
    of subsidiaries</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="-sec-ix-hidden: hidden-fact-75; font-size: 9pt; font-style: normal; font-weight: normal">-</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal"><ix:nonFraction contextRef="c114" decimals="-3" format="ixt:num-dot-decimal" name="mgic:AcquisitionOfSubsidiariesCosts" scale="3" unitRef="usd">11,319</ix:nonFraction></span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal"><ix:nonFraction contextRef="c115" decimals="-3" format="ixt:num-dot-decimal" name="mgic:AcquisitionOfSubsidiariesCosts" scale="3" unitRef="usd">2,707</ix:nonFraction></span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="-sec-ix-hidden: hidden-fact-76; font-size: 9pt; font-style: normal; font-weight: normal">-</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal"><ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="mgic:AcquisitionOfSubsidiariesCosts" scale="3" unitRef="usd">14,026</ix:nonFraction></span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal">
    <td style="font-style: normal; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">Adjustments
    arising from translating financial statements of foreign operations</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">(<ix:nonFraction contextRef="c113" decimals="-3" format="ixt:num-dot-decimal" name="mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations" scale="3" sign="-" unitRef="usd">103</ix:nonFraction></span></td><td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">)</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">(<ix:nonFraction contextRef="c114" decimals="-3" format="ixt:num-dot-decimal" name="mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations" scale="3" sign="-" unitRef="usd">5,055</ix:nonFraction></span></td><td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">)</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">(<ix:nonFraction contextRef="c115" decimals="-3" format="ixt:num-dot-decimal" name="mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations" scale="3" sign="-" unitRef="usd">1,030</ix:nonFraction></span></td><td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">)</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">(<ix:nonFraction contextRef="c116" decimals="-3" format="ixt:num-dot-decimal" name="mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations" scale="3" sign="-" unitRef="usd">53</ix:nonFraction></span></td><td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">)</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">(<ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations" scale="3" sign="-" unitRef="usd">6,241</ix:nonFraction></span></td><td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">)</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
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    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">Balance
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    <td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal"><ix:nonFraction contextRef="c117" decimals="-3" format="ixt:num-dot-decimal" name="mgic:GoodwillandOtherIntangibleAssetCost" scale="3" unitRef="usd">93,057</ix:nonFraction></span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal"><ix:nonFraction contextRef="c118" decimals="-3" format="ixt:num-dot-decimal" name="mgic:GoodwillandOtherIntangibleAssetCost" scale="3" unitRef="usd">93,134</ix:nonFraction></span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal"><ix:nonFraction contextRef="c119" decimals="-3" format="ixt:num-dot-decimal" name="mgic:GoodwillandOtherIntangibleAssetCost" scale="3" unitRef="usd">20,048</ix:nonFraction></span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal"><ix:nonFraction contextRef="c120" decimals="-3" format="ixt:num-dot-decimal" name="mgic:GoodwillandOtherIntangibleAssetCost" scale="3" unitRef="usd">584</ix:nonFraction></span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal"><ix:nonFraction contextRef="c2" decimals="-3" format="ixt:num-dot-decimal" name="mgic:GoodwillandOtherIntangibleAssetCost" scale="3" unitRef="usd">206,823</ix:nonFraction></span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal">
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    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">Accumulated
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    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">Balance
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    <td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal"><ix:nonFraction contextRef="c109" decimals="-3" format="ixt:num-dot-decimal" name="mgic:AccumulatedAmortizationAndImpairment" scale="3" unitRef="usd">79,354</ix:nonFraction></span></td><td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal"><ix:nonFraction contextRef="c110" decimals="-3" format="ixt:num-dot-decimal" name="mgic:AccumulatedAmortizationAndImpairment" scale="3" unitRef="usd">54,494</ix:nonFraction></span></td><td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal"><ix:nonFraction contextRef="c111" decimals="-3" format="ixt:num-dot-decimal" name="mgic:AccumulatedAmortizationAndImpairment" scale="3" unitRef="usd">10,329</ix:nonFraction></span></td><td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal"><ix:nonFraction contextRef="c112" decimals="-3" format="ixt:num-dot-decimal" name="mgic:AccumulatedAmortizationAndImpairment" scale="3" unitRef="usd">193</ix:nonFraction></span></td><td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal"><ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" name="mgic:AccumulatedAmortizationAndImpairment" scale="3" unitRef="usd">144,370</ix:nonFraction></span></td><td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">Amortization
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    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal"><ix:nonFraction contextRef="c113" decimals="-3" format="ixt:num-dot-decimal" name="mgic:AmortizationRecognized" scale="3" unitRef="usd">3,817</ix:nonFraction></span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal"><ix:nonFraction contextRef="c114" decimals="-3" format="ixt:num-dot-decimal" name="mgic:AmortizationRecognized" scale="3" unitRef="usd">7,865</ix:nonFraction></span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
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  <tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal">
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  <tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal">
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory-c0_cont_4" id="_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory-c0_cont_3"><ix:continuation id="_DisclosureOfIntangibleAssetsMaterialToEntityExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
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  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom">
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  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">$</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; width: 7%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"><ix:nonFraction contextRef="c26" decimals="-3" format="ixt:num-dot-decimal" name="mgic:GoodwillandOtherIntangibleAssetCost" scale="3" unitRef="usd">183,658</ix:nonFraction></span></td><td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">Capitalized
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    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">-</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">-</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">-</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"><ix:nonFraction contextRef="c5" decimals="-3" format="ixt:num-dot-decimal" name="mgic:CapitalizedDevelopmentCosts" scale="3" unitRef="usd">3,193</ix:nonFraction></span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">Acquisition
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    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">-</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"><ix:nonFraction contextRef="c126" decimals="-3" format="ixt:num-dot-decimal" name="mgic:AcquisitionOfSubsidiariesCosts" scale="3" unitRef="usd">6,445</ix:nonFraction></span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">-</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">-</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"><ix:nonFraction contextRef="c5" decimals="-3" format="ixt:num-dot-decimal" name="mgic:AcquisitionOfSubsidiariesCosts" scale="3" unitRef="usd">6,445</ix:nonFraction></span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"><ix:nonFraction contextRef="c110" decimals="-3" format="ixt:num-dot-decimal" name="mgic:AccumulatedAmortizationAndImpairment" scale="3" unitRef="usd">54,494</ix:nonFraction></span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
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    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory-c0_cont_5" id="_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">During the years ended December
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory-c0_cont_6" id="_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory-c0_cont_5"><ix:nonNumeric contextRef="c0" escape="true" name="ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></p><div>

</div><!-- Field: Page; Sequence: 156; Value: 1 --><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
<tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="text-align: left; width: 0.75in"><span style="text-transform: uppercase">NotE 8:-</span></td><td style="text-align: justify"><span style="text-transform: uppercase">Intangible
                                            Assets, Net (C</span>ont<span style="text-transform: uppercase">.)</span></td>
</tr>
</table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><span style="font-size: 10pt">&#160;</span></p><div>

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</div><div>

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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory-c0_cont_9" id="_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory-c0_cont_8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The estimated future amortization
expense of intangible assets as of December 31, 2022 is as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-size: 10pt">&#160;</span></p></ix:continuation><div>

</div><div>

</div><ix:continuation id="_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory-c0_cont_9"><ix:nonNumeric contextRef="c0" escape="true" name="ifrs-full:DisclosureOfIntangibleAssetsExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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  </table></ix:nonNumeric></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 10pt">&#160;</span></p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfGoodwillExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfGoodwillExplanatory"><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><span style="text-transform: uppercase">Note</span>
                           9:- </td><td style="text-align: justify">GOODWILL</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt"><span style="font-size: 6pt">&#160;</span></p></ix:nonNumeric><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfGoodwillExplanatory-c0_cont_2" id="_DisclosureOfGoodwillExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The following table summarizes
the changes in the carrying amount of goodwill for the years ended December 31, 2021 and 2022:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><span style="font-size: 10pt">&#160;</span></p></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></p><div>

</div><ix:continuation continuedAt="_DisclosureOfGoodwillExplanatory-c0_cont_3" id="_DisclosureOfGoodwillExplanatory-c0_cont_2"><ix:nonNumeric contextRef="c0" escape="true" name="ifrs-full:DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsExplanatory"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: White">
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfGoodwillExplanatory-c0_cont_4" id="_DisclosureOfGoodwillExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify">The Company performed
annual impairment tests as of January 1, 2021 as well as December 31, 2021 and 2022 and did not identify any impairment losses (see Note
2).</p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-size: 10pt">&#160;</span></p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfGoodwillExplanatory-c0_cont_5" id="_DisclosureOfGoodwillExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify">The goodwill is allocated
to both the IT Professional Services and Software Services segments, which represent the lowest level within the Company at which goodwill
is monitored for internal management purposes.</p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-size: 10pt">&#160;</span></p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfGoodwillExplanatory-c0_cont_6" id="_DisclosureOfGoodwillExplanatory-c0_cont_5"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify">Impairment test of
goodwill for the year ended on December 31, 2022:</p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-size: 10pt">&#160;</span></p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfGoodwillExplanatory-c0_cont_7" id="_DisclosureOfGoodwillExplanatory-c0_cont_6"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify">Impairment loss for
goodwill is recognized if the recoverable amount of the goodwill is less than the carrying amount. The recoverable amount is the greater
of fair value less costs of disposal, or value in use of the relevant reporting level (i.e. a CGU of a group of CGU&#8217;s).</p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-size: 10pt">&#160;</span></p></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><span style="text-transform: uppercase">Note </span>9:-
                                            </td><td style="text-align: justify"><span style="font-size: 10pt; text-transform: uppercase">Goodwill
                                            (c</span><span style="font-size: 10pt">ont<span style="text-transform: uppercase">.)</span></span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfGoodwillExplanatory-c0_cont_8" id="_DisclosureOfGoodwillExplanatory-c0_cont_7"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify">The Company performed
an assessment for goodwill impairment for both of its segments, which is the level at which goodwill is monitored for internal management
purposes and concluded that there is no impairment loss for the year ended December 31, 2022, based on the assumptions presented below:</p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfGoodwillExplanatory-c0_cont_9" id="_DisclosureOfGoodwillExplanatory-c0_cont_8"><ix:nonNumeric contextRef="c0" escape="true" name="ifrs-full:DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfGoodwillExplanatory-c0_cont_10" id="_DisclosureOfGoodwillExplanatory-c0_cont_9"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"><span style="background-color: white">Actual
results may differ from those assumed in the Company&#8217;s valuation method. It is reasonably possible that the Company&#8217;s assumptions
described above could change in future periods. If any of these were to vary materially from the Company&#8217;s plans, it may record
impairment of goodwill allocated to this reporting unit in the future. </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt; text-align: justify; text-indent: 15pt; background-color: white">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation id="_DisclosureOfGoodwillExplanatory-c0_cont_10"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"><span style="background-color: white">Based
on the Company&#8217;s abovementioned assessment as of December 31, 2022, no goodwill was determined to be impaired, since the fair value
of the Company&#8217;s group of cash-generating units significantly exceeded their carrying amount.</span></p></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt; text-align: justify">&#160;</p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="mgic_DisclosureOfShortTermDebtsExplanatoryTextBlock-c0_cont_1" escape="true" name="mgic:DisclosureOfShortTermDebtsExplanatoryTextBlock"><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><span style="text-transform: uppercase"><b>Note </b></span>10:-</td><td style="text-align: justify"><span style="text-transform: uppercase">short
                                            term DEBTs</span></td>
</tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in">&#160;</p></ix:nonNumeric><div>

</div><div>

</div><ix:continuation id="mgic_DisclosureOfShortTermDebtsExplanatoryTextBlock-c0_cont_1"><ix:nonNumeric contextRef="c0" escape="true" name="mgic:ScheduleOfShortTermDebtsExplanatory"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td colspan="2" style="font-weight: bold; text-align: center">January 1,</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Currency</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in">&#160;</p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory-c0_cont_1" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory"><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><span style="text-transform: uppercase">Note 11:-</span></td><td style="text-align: justify"><span style="text-transform: uppercase">other accounts
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</div><div>

</div><ix:continuation continuedAt="_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory-c0_cont_2" id="_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-weight: normal; text-transform: none">Other
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</div><div>

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    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  </table></ix:nonNumeric></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in">&#160;</p><div>

</div><!-- Field: Page; Sequence: 158; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->44<!-- Field: /Sequence --></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt">&#160;</p><div>

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</div><div>

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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_4" id="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-size: 10pt">b. Maturity dates:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p></ix:continuation><div>


</div><div>

</div><ix:continuation continuedAt="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_5" id="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_4"><ix:nonNumeric contextRef="c0" escape="true" name="mgic:ScheduleOfMaturityDatesTableTextBlock"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_6" id="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">On March 31, 2022,
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_7" id="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_6"><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"> <span style="font-size: 10pt">c. Financial Covenants:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p></ix:continuation><div>


</div><div>

</div><ix:continuation continuedAt="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_8" id="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Under the terms of the Loan, the Company
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_9" id="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_8"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.75in; text-align: justify; font-size: 10pt">&#160;</td> <td style="width: 0.25in; text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a.</span></td> <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total equity attributable to Magic Software Enterprises shareholders shall not be lower than $ <ix:nonFraction contextRef="c2" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:EquityInstrumentsHeld" scale="3" unitRef="usd">100,000</ix:nonFraction> at all times;</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p></ix:continuation><div>
</div><div>

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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_11" id="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_10"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.75in; text-align: justify">&#160;</td> <td style="width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">c.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The ratio of the Company&#8217;s consolidated total financial debts to consolidated total assets will not exceed <ix:nonFraction contextRef="c0" decimals="2" format="ixt:num-dot-decimal" name="mgic:FinancialDebtsNotExceedPercentage" scale="-2" unitRef="pure">50</ix:nonFraction>%;</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p></ix:continuation><div>
</div><div>

</div><ix:continuation continuedAt="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_12" id="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_11"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_13" id="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_12"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_14" id="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_13"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">As of December 31, 2022, the Company was
in compliance with the financial covenants.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_15" id="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_14"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">On March 27, 2023,
<ix:nonNumeric contextRef="c176" name="mgic:LoanAgreementDescription">the Company entered into a loan agreement with an Israeli bank, pursuant to which, the Company borrowed $20,000 for a four-year term
(the &#8220;Bank Loan&#8221;). The Bank Loan will mature on March 27, 2027, and will be repaid in four (4) equal annual instalments of
$6,052 (including interest) starting March 27, 2024. The Bank Loan bears interest at the rate SOFR + 3.38%. The Bank Loan, which may be
prepaid under certain circumstances, is subject to various financial covenants which mainly consist of the following:</ix:nonNumeric></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_16" id="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_15"><ix:continuation id="mgic_ScheduleOfLongTermLiabilitiesTableTextBlock-c0_cont_1"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"><sup>(1)</sup></td><td style="text-align: justify"><ix:footnote id="ix_0_footnote" xml:lang="en-US"><span style="font-family: Times New Roman, Times, Serif">This is comprised of a loan obtained by the Company
on November 2016 in the amount of $ <ix:nonFraction contextRef="c177" decimals="-3" format="ixt:num-dot-decimal" name="mgic:LoanObtained" scale="3" unitRef="usd">31,356</ix:nonFraction>. The loan is linked to the New Israel Shekel, and was obtained from an Israeli financial institution
(&#8220;the Loan&#8221;). The principal amount of the loan is payable in seven equal annual installments with the final payment due on
November 2, 2023 and bears a fixed interest rate of <ix:nonFraction contextRef="c178" decimals="4" format="ixt:num-dot-decimal" name="mgic:DerivativeFixedInterestRates" scale="-2" unitRef="pure">2.60</ix:nonFraction>% per annum, payable in two semi-annual payments.</span></ix:footnote></td></tr>
<tr style="vertical-align: top">
<td style="width: 0.25in"><sup>(2)</sup></td><td style="text-align: justify"><ix:footnote id="ix_1_footnote" xml:lang="en-US">On June 1, 2021, the Company obtained a loan in the amount of $ <ix:nonFraction contextRef="c179" decimals="-3" format="ixt:num-dot-decimal" name="mgic:LoanObtained" scale="3" unitRef="usd">15,000</ix:nonFraction> from an Israeli bank. The principal
amount of the loan is payable in eight equal semi-annual installments with the final payment due on December 1, 2025 and bears a fixed interest
rate of SOFR + 2.1% per annum, payable in two semi-annual payments.</ix:footnote></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><!-- Field: Page; Sequence: 159; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->45<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><span style="text-transform: uppercase">Note 12:-</span></td><td style="text-align: justify"><span style="text-transform: uppercase">Long
                                            term DEBTS </span><span style="text-transform: none">(Cont.)</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_17" id="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_16"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">a.</td><td style="text-align: justify">Our equity will not be lower than <span style="-sec-ix-hidden: hidden-fact-81">$1</span><span style="font-family: Times New Roman, Times, Serif">50
</span>million (one hundred fifty million U.S. Dollars at all times);</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p></ix:continuation><div>
</div><div>

</div><ix:continuation continuedAt="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_18" id="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_17"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">b.</td><td style="text-align: justify">The ratio of the total financial debts less cash to total
assets will not exceed <ix:nonFraction contextRef="c179" decimals="2" format="ixt:num-dot-decimal" name="mgic:FinancialDebtsNotExceedPercentage" scale="-2" unitRef="pure">30</ix:nonFraction>%;</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p></ix:continuation><div>
</div><div>

</div><ix:continuation continuedAt="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_19" id="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_18"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.75in">&#160;</td>
    <td style="width: 24px; text-align: justify">c.</td>
    <td style="text-align: justify">The ratio of the total financial debts less cash and short-term deposits to the annual EBITDA will not exceed 3.25 to 1;</td></tr>
  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p></ix:continuation><div>
</div><div>

</div><ix:continuation id="_DisclosureOfOtherNoncurrentAssetsExplanatory-c0_cont_19"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">To date, the Company
is in full compliance with the financial covenants of the Bank Loan.</p></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 31.5pt 0pt 85.05pt; text-align: justify; text-indent: -28.35pt">&#160;</p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfRelatedPartyExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfRelatedPartyExplanatory"><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><span style="text-transform: uppercase">Note 13:-</span></td><td style="text-align: justify"><span style="text-transform: uppercase">RELATED
                                            PARTies TRANSACTIONS</span></td>
</tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt">&#160;</p></ix:nonNumeric><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfRelatedPartyExplanatory-c0_cont_2" id="_DisclosureOfRelatedPartyExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">Agreements with controlling
shareholder and its affiliates:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfRelatedPartyExplanatory-c0_cont_3" id="_DisclosureOfRelatedPartyExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has in effect agreements with affiliated
companies pursuant to which the Company has rendered services amounting to approximately $<ix:nonFraction contextRef="c5" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ServicesReceivedRelatedPartyTransactions" scale="3" unitRef="usd">5,615</ix:nonFraction>, and $<ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ServicesReceivedRelatedPartyTransactions" scale="3" unitRef="usd">6,990</ix:nonFraction>, in aggregate for the years
ended December 31, 2021 and 2022, respectively and acquired services amounting to approximately $ <ix:nonFraction contextRef="c204" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ServicesReceivedRelatedPartyTransactions" scale="3" unitRef="usd">2,639</ix:nonFraction> and $ <ix:nonFraction contextRef="c205" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ServicesReceivedRelatedPartyTransactions" scale="3" unitRef="usd">3,088</ix:nonFraction> for the years ended
December 31, 2021 and 2022, respectively. The aforementioned services include cloud computing services, software products, computer infrastructure
and integration, software development and maintenance services and back-office services.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&#160;</p></ix:continuation><div>
</div><div>

</div><ix:continuation id="_DisclosureOfRelatedPartyExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">As of December 31,
2021 and 2022, the Company had trade and other receivables balances due to its related parties in amount of approximately $ <ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:AmountsReceivableRelatedPartyTransactions" scale="3" unitRef="usd">3,380</ix:nonFraction> and
$ <ix:nonFraction contextRef="c2" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:AmountsReceivableRelatedPartyTransactions" scale="3" unitRef="usd">8,519</ix:nonFraction>, respectively. In addition, as of December 31, 2021 and 2022. the Company had trade payables balances due from its related parties
in amount of approximately $ <ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:AmountsPayableRelatedPartyTransactions" scale="3" unitRef="usd">708</ix:nonFraction> and $<ix:nonFraction contextRef="c2" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:AmountsPayableRelatedPartyTransactions" scale="3" unitRef="usd">124</ix:nonFraction>, respectively.</p></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfLeasesExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfLeasesExplanatory"><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><span style="text-transform: uppercase">Note 14:-</span></td><td style="text-align: justify"><span style="text-transform: uppercase">LEASES</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in">&#160;</p></ix:nonNumeric><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfLeasesExplanatory-c0_cont_2" id="_DisclosureOfLeasesExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">The Company leases substantially
all of its office space and vehicles under operating leases. The Company&#8217;s leases have original <ix:nonNumeric contextRef="c0" name="mgic:DescriptionOfLeaseExpiring">lease periods expiring between 2023
and 2034</ix:nonNumeric>. Some leases include one or more options to renew. The Company does not assume renewals in its determination of the lease term
unless the renewals are deemed to be reasonably certain at lease commencement. Lease payments included in the measurement of the lease
liability comprise the following: the fixed non-cancellable lease payments, payments for optional renewal periods where it is reasonably
certain the renewal period will be exercised, and payments for early termination options unless it is reasonably certain the lease will
not be terminated early.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfLeasesExplanatory-c0_cont_3" id="_DisclosureOfLeasesExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">In July 2020, the Company entered
into a lease agreement for new corporate offices for the company in Or Yehuda, Israel. The lease expires in June 2033, with an option
by the Company to extend for an additional <ix:nonNumeric contextRef="c206" format="ixt-sec:duryear" name="mgic:LeasesExtendToAdditionalYears">10</ix:nonNumeric>-years term. The Company deemed this option as&#160;reasonably certain to be renewed.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfLeasesExplanatory-c0_cont_4" id="_DisclosureOfLeasesExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">The Company has several leased
offices in the United States, with <ix:nonNumeric contextRef="c0" name="ifrs-full:ExplanationOfNatureAndExtentOfRenewalAndTerminationOptions">expiry dates varying between 2023 and 2024, with renewal options varying between 2023 and 2029</ix:nonNumeric>.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfLeasesExplanatory-c0_cont_5" id="_DisclosureOfLeasesExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">In November 2021, one of the
Company&#8217;s subsidiaries in Israel entered into a lease agreement for new corporate offices. The lease commenced on July 2022 with
a lease term through 2029, with an option to <ix:nonNumeric contextRef="c207" name="mgic:LeaseOptionToTerminate">terminate the lease after a 4-year term following a 12-month notice in advance, and an option
to renew the lease to an additional 5-year term</ix:nonNumeric>, through 2034. The Company deemed this option as&#160;reasonably certain to be renewed.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></p><div>

</div><!-- Field: Page; Sequence: 160; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->46<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="text-transform: uppercase; width: 0in"></td><td style="width: 0.75in; text-align: left"><span style="text-transform: uppercase">Note</span> 14:-
                                            </td><td style="text-align: justify"><span style="text-transform: uppercase">LEASES (C</span>ont<span style="text-transform: uppercase">.)</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfLeasesExplanatory-c0_cont_6" id="_DisclosureOfLeasesExplanatory-c0_cont_5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">Under IFRS 16, all leases with
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The aggregated present value of lease agreements is recorded as a long-term asset titled operating lease right-of-use assets.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfLeasesExplanatory-c0_cont_7" id="_DisclosureOfLeasesExplanatory-c0_cont_6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">The corresponding lease liabilities
are classified between operating lease liabilities which are current and long-term.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfLeasesExplanatory-c0_cont_8" id="_DisclosureOfLeasesExplanatory-c0_cont_7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">Maturity analysis of undiscounted
future lease payments for lease liabilities:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfLeasesExplanatory-c0_cont_9" id="_DisclosureOfLeasesExplanatory-c0_cont_8"><ix:nonNumeric contextRef="c0" escape="true" name="ifrs-full:DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 88%; text-align: left">2023</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><ix:nonFraction contextRef="c208" decimals="-3" format="ixt:num-dot-decimal" name="mgic:OperatingLeasesFutureMinimumPaymentDue" scale="3" unitRef="usd">5,370</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">2024</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c209" decimals="-3" format="ixt:num-dot-decimal" name="mgic:OperatingLeasesFutureMinimumPaymentDue" scale="3" unitRef="usd">4,344</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">2025</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c210" decimals="-3" format="ixt:num-dot-decimal" name="mgic:OperatingLeasesFutureMinimumPaymentDue" scale="3" unitRef="usd">3,309</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">2026</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c211" decimals="-3" format="ixt:num-dot-decimal" name="mgic:OperatingLeasesFutureMinimumPaymentDue" scale="3" unitRef="usd">2,447</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">2027</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c212" decimals="-3" format="ixt:num-dot-decimal" name="mgic:OperatingLeasesFutureMinimumPaymentDue" scale="3" unitRef="usd">1,964</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1.5pt">2028 and thereafter</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c213" decimals="-3" format="ixt:num-dot-decimal" name="mgic:OperatingLeasesFutureMinimumPaymentDue" scale="3" unitRef="usd">17,258</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfLeasesExplanatory-c0_cont_10" id="_DisclosureOfLeasesExplanatory-c0_cont_9"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">a.</td><td style="text-align: justify">Information on leases:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfLeasesExplanatory-c0_cont_11" id="_DisclosureOfLeasesExplanatory-c0_cont_10"><ix:nonNumeric contextRef="c0" escape="true" name="mgic:ScheduleOfLeaseInformationExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfLeasesExplanatory-c0_cont_12" id="_DisclosureOfLeasesExplanatory-c0_cont_11"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The following is a summary of weighted
average remaining lease terms and discount rates for all of the Company&#8217;s operating leases:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfLeasesExplanatory-c0_cont_13" id="_DisclosureOfLeasesExplanatory-c0_cont_12"><ix:nonNumeric contextRef="c0" escape="true" name="mgic:ScheduleOfWeightedAverageRemainingLeaseTermsExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">December&#160;31,<br/>
</td><td style="font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 88%; text-align: justify; text-indent: -9pt; padding-left: 9pt">Weighted average remaining lease term (years)</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right"><ix:nonNumeric contextRef="c2" format="ixt-sec:duryear" name="mgic:WeightedAverageRemainingLeaseTermyears">12.4</ix:nonNumeric></td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; text-indent: -9pt; padding-left: 9pt">Weighted average discount rate</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c2" decimals="4" format="ixt:num-dot-decimal" name="mgic:WeightedAverageDiscountRate" scale="-2" unitRef="pure">2.96</ix:nonFraction></td><td style="text-align: left">%</td></tr>
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</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 161; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->47<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
<tr style="vertical-align: top; text-align: justify">
<td style="text-transform: uppercase; width: 0in"></td><td style="text-align: left; width: 0.75in"><span style="text-transform: uppercase">Note</span> 14:-
                                            </td><td style="text-align: justify"><span style="text-transform: uppercase">LEASES (C</span>ont<span style="text-transform: uppercase">.)</span></td>
</tr>
</table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfLeasesExplanatory-c0_cont_14" id="_DisclosureOfLeasesExplanatory-c0_cont_13"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in">b.</td><td style="text-align: justify">Disclosures in respect of right-of-use assets:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfLeasesExplanatory-c0_cont_15" id="_DisclosureOfLeasesExplanatory-c0_cont_14"><ix:nonNumeric contextRef="c0" continuedAt="mgic_ScheduleOfRightofuseAssetsExplanatory-c0_cont_1" escape="true" name="mgic:ScheduleOfRightofuseAssetsExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Buildings</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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 vehicles</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Cost:</td><td>&#160;</td>
    <td colspan="2" style="text-align: justify">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; width: 64%; text-align: left">Balance as of January&#160;1, 2022</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><ix:nonFraction contextRef="c214" decimals="-3" format="ixt:num-dot-decimal" name="mgic:CostAtBeginnings" scale="3" unitRef="usd">33,241</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Additions during the year:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left">New leases</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left">Modification of leases</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left">Adjustments for indexation</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left">Acquisition of subsidiaries</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt">Balance as of December 31, 2022</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><div>

</div><ix:continuation id="_DisclosureOfLeasesExplanatory-c0_cont_15"><ix:continuation id="mgic_ScheduleOfRightofuseAssetsExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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  <tr style="vertical-align: bottom">
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  </table></ix:continuation></ix:continuation><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"></p><div>

</div><!-- Field: Page; Sequence: 162; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->48<!-- Field: /Sequence --></p></div><div>
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</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in">&#160;</p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory"><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><span style="text-transform: uppercase">Note 15:-</span></td><td style="text-align: justify"><span style="text-transform: uppercase">SHARE
                                            BASED PAYMENTS</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt">&#160;</p></ix:nonNumeric><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_2" id="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">a.</span></td><td style="text-align: justify"><span style="font-size: 10pt">Stock Option Plans of the Company:</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation><div>
</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_3" id="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Under the Company&#8217;s 2007 Stock Option
Plan, as amended (&#8220;the 2007 Plan&#8221;), options may be granted to employees, officers, directors and consultants of the Company
and its subsidiaries. Pursuant to the original 2007 Stock Option Plan, which is valid until August 1, 2027, the Company reserved <ix:nonFraction contextRef="c238" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares" scale="0" unitRef="shares">2,750,000</ix:nonFraction>
Ordinary shares for issuance. As of December 31, 2022, an aggregate of <ix:nonFraction contextRef="c238" decimals="0" format="ixt:num-dot-decimal" name="mgic:AggregateOrdinarySharesAvailableForFutureGrants" scale="0" unitRef="shares">952,500</ix:nonFraction> Ordinary shares of the Company are available for future
grants under the 2007 Plan. Each option granted under the 2007 Plan is exercisable for a period of <ix:nonNumeric contextRef="c239" format="ixt-sec:durwordsen" name="mgic:OptionGrantExercisableContractualLifeOfOutstandingShareOption">ten years</ix:nonNumeric> from the date of the grant
of the option.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_4" id="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The exercise price for each option is
determined by the Board of Directors and set forth in the Company&#8217;s award agreement. Unless determined otherwise by the Board of
Directors, the option exercise price shall be equal to or higher than the share market price at the grant date. The options generally
vest over <ix:nonNumeric contextRef="c240" format="ixt-sec:duryear" name="mgic:ExerciseOptionVestLife">3</ix:nonNumeric>-<ix:nonNumeric contextRef="c241" format="ixt-sec:duryear" name="mgic:ExerciseOptionVestLife">4</ix:nonNumeric> years. Any option that is forfeited or canceled before expiration becomes available for future grants under the 2007 Plan.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_5" id="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company recognizes compensation expenses
for the value of its awards, which have graded vesting based on the accelerated method over the requisite service period of each of the
awards. The Company accounts for forfeitures as they occur.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 76.5pt; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_6" id="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company uses the Binomial option-pricing
model (&#8220;the Binomial model&#8221;) to estimate the fair value for any options granted. The Binomial model takes into account variables
such as volatility, dividend yield rate, and risk-free interest rate and also allows for the use of dynamic assumptions and considers
the contractual term of the option, the probability that the option will be exercised prior to the end of its contractual life, and the
probability of termination or retirement of the option holder in computing the value of the option.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_7" id="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The fair value of each option granted
using the Binomial model, was estimated on the date of grant with the following assumptions: expected volatility was based upon actual
historical stock price movements and was calculated as of the grant dates for different periods, since the Binomial model can be used
for different expected volatilities for different periods. The risk-free interest rate was based on the yield from U.S. Treasury zero-coupon
bonds with an equivalent term to the contractual term of the options. The expected term of options granted was derived from the output
of the option valuation model and represented the period of time that options granted were expected to be outstanding. Estimated forfeitures
were based on actual historical pre-vesting forfeitures. Since dividend payments are applied to reduce the exercise price of the option,
the effect of the dividend protection was reflected by using an expected dividend assumption of <ix:nonFraction contextRef="c239" decimals="-3" format="ixt:fixed-zero" name="ifrs-full:ExpectedDividendShareOptionsGranted" scale="3" unitRef="usd">zero</ix:nonFraction>.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>


</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><span style="text-transform: uppercase">Note 15:-</span></td><td style="text-align: justify"><span style="text-transform: uppercase">SHARE
                                            BASED PAYMENTS (C</span>ont<span style="text-transform: uppercase">.)</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_8" id="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">On March 7, 2021, the Company granted
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_9" id="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">No grants were made to employees or directors
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_10" id="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_9"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="background-color: white">The
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</div><div>

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 December&#160;31, <br/>
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  <tr style="vertical-align: bottom; background-color: White">
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</div><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt"></p><div>

</div><!-- Field: Page; Sequence: 164; Value: 1 --><div>
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</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
<tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="text-align: left; width: 0.75in"><span style="text-transform: uppercase">Note 15:-</span></td><td style="text-align: justify"><span style="text-transform: uppercase">SHARE
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</tr>
</table><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt">&#160;</p><div>

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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_16" id="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_15"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The options outstanding as of December
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</div><div>

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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: White">
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_18" id="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_17"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">b.</span></td><td style="text-align: justify"><span style="font-size: 10pt">Stock Option Plan of Comm-IT
Solutions:</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation><div>
</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_19" id="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_18"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Under the Comm-IT Solutions&#8217; 2022
Stock Option Plan, (&#8220;Comm-IT Solutions 2022 Plan&#8221;), options may be granted to employees, officers, directors and consultants
of the Company and its subsidiaries. Pursuant to Comm-IT Solutions 2022 Plan, Comm-IT Technology Solutions Ltd. shall reserve in its registered
and reserved capital, such sufficient number of shares (subject to any adjustment in the capital under the Comm-IT Solutions 2022 Plan)
required in order to consummate the Comm-IT Solutions 2022 Plan.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_20" id="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_19"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="background-color: white">In
December 2022, Magic&#8217;s Israeli subsidiary, Comm-IT Technology Solutions Ltd. (&#8220;Comm-IT Solutions&#8221;), awarded 12 of its
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and its subsidiaries meeting certain EBITDA targets for the years 2022-2024. Subject to the EBITDA targets to be met, as well as the officers
continued employment with Comm-IT Solutions throughout 2027, the options will vest at certain points in time throughout the years 2023
to 2027.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 165; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->51<!-- Field: /Sequence --></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
<tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="text-align: left; width: 0.75in"><span style="text-transform: uppercase">Note 15:-</span></td><td style="text-align: justify"><span style="text-transform: uppercase">SHARE
                                            BASED PAYMENTS (C</span>ont<span style="text-transform: uppercase">.)</span></td>
</tr>
</table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_21" id="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_20"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">A summary of employee option activity
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_22" id="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_21"><ix:continuation id="_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-87">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_23" id="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_22"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">As of December 31, 2022, there was $<ix:nonFraction contextRef="c244" decimals="-3" format="ixt:num-dot-decimal" name="mgic:UnrecognizedCompensationCostRelatedToNonVestedOptions" scale="3" unitRef="usd">2,885</ix:nonFraction>&#160;of
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_24" id="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_23"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The options outstanding as of December
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_25" id="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_24"><ix:continuation id="_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">&#160;</p></ix:continuation></ix:continuation><div>


</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt"></p><div>

</div><!-- Field: Page; Sequence: 166; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->52<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><span style="text-transform: uppercase">Note 15:-</span></td><td style="text-align: justify"><span style="text-transform: uppercase">SHARE
                                            BASED PAYMENTS (C</span>ont<span style="text-transform: uppercase">.)</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_26" id="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_25"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="background-color: white">The
fair value of the options granted in 2022 using the Binomial model, was estimated on the date of grant with the following assumptions:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_27" id="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_26"><ix:continuation id="_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td>&#160;</td>
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 December 31,<br/>
2022</b></span></td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td>&#160;</td>
    <td colspan="2">&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: #CCEEFF">
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    <td style="width: 1%">&#160;</td>
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    <td>&#160;</td>
    <td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: #CCEEFF">
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    <td>&#160;</td>
    <td>&#160;</td>
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    <td>&#160;</td>
    <td>&#160;</td>
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    <td>&#160;</td>
    <td>&#160;</td>
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    <td>&#160;</td>
    <td>&#160;</td>
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    <td>&#160;</td>
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_28" id="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_27"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">c.</span></td><td style="text-align: justify"><span style="font-size: 10pt">Cost of share-based payment:</span></td>
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_29" id="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_28"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">During the years ended December 31,
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as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation id="_DisclosureOfSharebasedPaymentArrangementsExplanatory-c0_cont_29"><ix:nonNumeric contextRef="c0" escape="true" name="ifrs-full:ExplanationOfEffectOfSharebasedPaymentsOnProfitOrLoss"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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  </table></ix:nonNumeric></ix:continuation><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -28.35pt"></p><div>

</div><!-- Field: Page; Sequence: 167; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->53<!-- Field: /Sequence --></p></div><div>
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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -28.35pt">&#160;&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -28.35pt">&#160;</p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory"><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 0in"></td>
    <td style="width: 0.75in; text-align: left"><span style="font-size: 10pt"><b>NOTE 16:-</b></span></td>
    <td style="text-align: justify"><span style="font-size: 10pt"><b>EMPLOYEE BENEFIT LIABILITIES</b></span></td></tr>
  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in"><span style="text-transform: uppercase"><b>&#160;</b></span></p></ix:nonNumeric><div>
</div><div>

</div><ix:continuation continuedAt="_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-c0_cont_2" id="_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.75in"><span style="background-color: white">Employee
benefits consist of post-employment benefits and termination benefits.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-c0_cont_3" id="_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-c0_cont_2"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">a)</span></td><td style="text-align: justify"><span style="font-size: 10pt"><span style="text-decoration:underline">Post-employment benefits</span>:</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation><div>
</div><div>

</div><ix:continuation continuedAt="_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-c0_cont_4" id="_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="background-color: white">According
to the labor laws and Severance Pay Law in Israel, the Israeli companies in the Group are required to pay compensation to an employee
upon dismissal or retirement or to make current contributions in defined contribution plans pursuant to section&#160;14 to the Severance
Pay Law, as specified below. These liabilities are accounted for as a post-employment benefit. The computation of the employee benefit
liability is made according to the current employment contract based on an employee&#8217;s salary and employment term which establish
the entitlement to receive the compensation.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-c0_cont_5" id="_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="background-color: white">The
post-employment employee benefits are normally financed by contributions classified as a defined benefit plan or as a defined contribution
plan, as detailed below.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-c0_cont_6" id="_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-c0_cont_5"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">1)</span></td><td style="text-align: justify"><span style="font-size: 10pt"><span style="text-decoration:underline">Defined contribution plans</span>:</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation><div>
</div><div>

</div><ix:continuation continuedAt="_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-c0_cont_7" id="_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-c0_cont_6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"><span style="background-color: white">Section&#160;14
of the Severance Pay Law, 1963 applies to part of the compensation payments, pursuant to which the fixed contributions paid into pension
funds and/or policies of insurance companies release the Company from any additional liability to employees for whom said contributions
were made. These contributions and contributions for benefits represent defined contribution plans.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-c0_cont_8" id="_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-c0_cont_7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">Severance expenses for the years 2021
and 2022 were $<ix:nonFraction contextRef="c5" decimals="0" format="ixt:num-dot-decimal" name="mgic:SeveranceExpenses" scale="0" unitRef="usd">5,267</ix:nonFraction> and $<ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="mgic:SeveranceExpenses" scale="0" unitRef="usd">7,078</ix:nonFraction>, respectively.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-c0_cont_9" id="_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-c0_cont_8"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">2)</span></td><td style="text-align: justify"><span style="font-size: 10pt"><span style="text-decoration:underline">U.S. employees defined contribution
plan</span>:</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p></ix:continuation><div>
</div><div>

</div><ix:continuation continuedAt="_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-c0_cont_10" id="_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-c0_cont_9"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"><span style="background-color: white">The
Company&#8217;s U.S. Subsidiaries have a 401(k) defined contribution plan covering certain employees in the U.S. All eligible employees
may elect to contribute up to <ix:nonFraction contextRef="c2" decimals="2" format="ixt:num-dot-decimal" name="mgic:AnnualCompensationPercentage" scale="-2" unitRef="pure">100</ix:nonFraction>% of their annual compensation to the plan through salary deferrals, subject to Internal Revenue Service
limits. The U.S. Subsidiary matches up to <ix:nonFraction contextRef="c2" decimals="2" format="ixt:num-dot-decimal" name="mgic:EmployeeContributionsPercentage" scale="-2" unitRef="pure">3</ix:nonFraction>% of employee contributions up to the plan with no limitation.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-c0_cont_11" id="_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-c0_cont_10"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">3)</span></td><td style="text-align: justify"><span style="font-size: 10pt"><span style="text-decoration:underline">Defined benefit plans</span>:</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation><div>
</div><div>

</div><ix:continuation continuedAt="_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-c0_cont_12" id="_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-c0_cont_11"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"><span style="background-color: white">The
Company accounts for that part of the payment of compensation that is not covered by contributions in defined contribution plans, as above,
as a defined benefit plan for which an employee benefit liability is recognized and for which the Company deposits amounts in central
severance pay funds and in qualifying insurance policies.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-c0_cont_13" id="_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-c0_cont_12"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">b)</span></td><td style="text-align: justify"><span style="font-size: 10pt">Composition of defined benefit
plans is as follows:</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation><div>
</div><div>

</div><ix:continuation id="_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory-c0_cont_13"><ix:nonNumeric contextRef="c0" escape="true" name="ifrs-full:DisclosureOfDefinedBenefitPlansExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
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    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in; background-color: white"><span style="text-transform: uppercase"><b>&#160;</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in; background-color: white"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="text-transform: uppercase"><b>&#160;</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in; background-color: white"><span style="text-transform: uppercase"><b>&#160;</b></span></p><div>

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<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><span style="font-size: 10pt"><b>NOTE 17:-</b></span></td><td style="text-align: justify"><span style="font-size: 10pt"><b>COMMITMENTS AND CONTINGENCIES</b></span></td>
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory-c0_cont_2" id="_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">a.</span></td><td style="text-align: justify"><span style="font-size: 10pt">Guarantees and Collaterals:</span></td>
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory-c0_cont_3" id="_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">As of December 31, 2022, the Company has
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory-c0_cont_4" id="_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory-c0_cont_3"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
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</div><ix:continuation continuedAt="_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory-c0_cont_5" id="_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Lawsuits have been brought against the
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory-c0_cont_6" id="_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory-c0_cont_5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In September 2016, an Israeli software
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In the lawsuit, the software company claimed that warning letters that the Company sent to its clients in Israel and abroad, warning those
clients against the possibility that the conversion procedure offered by the software company may amount to an infringement of the Company&#8217;s
copyrights (the &#8220;Warning Letters&#8221;), as well as other alleged actions, have caused the software company damages resulting from
loss of potential business. The lawsuit is based on rulings given in the 2015 arbitration proceeding in which it was allegedly ruled that
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</div><div>

</div><ix:continuation id="_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory-c0_cont_6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company rejected the claims by the
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</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt"></p><div>

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</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt">&#160;</p><div>

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<td style="width: 0in"></td><td style="width: 0.75in; text-align: left">NOTE 18:-</td><td style="text-align: justify">EQUITY</td>
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</div><div>

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    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
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  <tr style="vertical-align: top">
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</div><div>

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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfReservesAndOtherEquityInterestExplanatory-c0_cont_5" id="_DisclosureOfReservesAndOtherEquityInterestExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On August 9, 2017, the Company&#8217;s
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</div><div>

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</div><div>

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</div><div>

</div><ix:continuation id="_DisclosureOfReservesAndOtherEquityInterestExplanatory-c0_cont_7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On March 9, 2023, the Company declared
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><!-- Field: Page; Sequence: 170; Value: 1 --><div>
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</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase"></p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt">&#160;</p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfIncomeTaxExplanatory"><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="text-transform: uppercase; vertical-align: top; text-align: justify">
<td style="text-transform: uppercase; width: 0in"></td><td style="text-transform: uppercase; width: 0.75in; text-align: left">Note 19:-</td><td style="text-transform: uppercase; text-align: justify">INCOME tax</td>
</tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt">&#160;</p></ix:nonNumeric><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_2" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.75in"></td><td style="width: 0.25in">a.</td><td style="text-align: justify">Israeli taxation:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_3" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_2"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.25in">1)</td><td style="text-align: justify"><span style="text-decoration:underline">Corporate tax rate in Israel</span>:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_4" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">Taxable income of
Israeli companies was generally subject to corporate tax at the rate of <ix:nonFraction contextRef="c5" decimals="2" format="ixt:num-dot-decimal" name="mgic:TaxableIncomePercentage" scale="-2" unitRef="pure"><ix:nonFraction contextRef="c0" decimals="2" format="ixt:num-dot-decimal" name="mgic:TaxableIncomePercentage" scale="-2" unitRef="pure">23</ix:nonFraction></ix:nonFraction>% in 2021 and 2022. Some of our Israeli subsidiaries are eligible
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_5" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_4"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.25in">2)</td><td style="text-align: justify">Tax benefits under the Israeli Law for the Encouragement of Capital Investments, 1959 (the &#8220;Law&#8221;):</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_6" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"><span style="text-decoration:underline">Amendment 73 to
the law:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_7" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">In December 2016,
the Economic Efficiency Law (Legislative Amendments for Applying the Economic Policy for the 2017 and 2018 Budget Years) 2016, which includes
Amendment 73 to the Law for the Encouragement of Capital Investments (&#8220;the 2017 Amendment&#8221;) was published and was pending
the publication of regulations, in May 2017 regulations were promulgated by the Finance Ministry to implement the &#8220;Nexus Principles&#8221;
based on OECD guidelines published as part of the Base Erosion and Profit Shifting (BEPS) project. Following the publication of the regulations
the 2017 Amendment became fully effective. According to the 2017 Amendment, a Preferred Technological Enterprise, as defined in the 2017
Amendment, with total consolidated revenues of the Company companies is less than NIS 10 billion, shall be subject to <ix:nonFraction contextRef="c283" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:TaxRateEffectFromChangeInTaxRate" scale="-2" unitRef="pure">12</ix:nonFraction>% tax rate on
income derived from intellectual property (in development area A&#8212;a tax rate of <ix:nonFraction contextRef="c283" decimals="3" format="ixt:num-dot-decimal" name="ifrs-full:TaxRateEffectOfTaxLosses" scale="-2" unitRef="pure">7.5</ix:nonFraction>%). In order to qualify as a Preferred technological
enterprise certain criterion must be met, such as a minimum ratio of annual R&amp;D expenditure and R&amp;D employees, as well as having
at least <ix:nonFraction contextRef="c283" decimals="2" format="ixt:num-dot-decimal" name="mgic:LeasePercentage" scale="-2" unitRef="pure">25</ix:nonFraction>% of annual revenues derived from exports.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_8" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">The 2017 Amendment
further provides that a technology company satisfying certain conditions will qualify as a Special Preferred Technology Enterprise (&#8220;SPTE&#8221;)
(an enterprise for which, among others, total consolidated revenues of its parent company and all subsidiaries is at least NIS 10 billion)
and will thereby enjoy a reduced corporate tax rate of <ix:nonFraction contextRef="c284" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:TaxRateEffectFromChangeInTaxRate" scale="-2" unitRef="pure">6</ix:nonFraction>% on PTI regardless of the company&#8217;s geographic location within Israel.
In addition, a SPTE will enjoy a reduced corporate tax rate of <ix:nonFraction contextRef="c285" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:TaxRateEffectFromChangeInTaxRate" scale="-2" unitRef="pure">6</ix:nonFraction>% on capital gain derived from the sale of certain &#8220;Benefited Intangible
Assets&#8221; to a related foreign company if the Benefited Intangible Assets were either developed by the Special Preferred Technology
Enterprise or acquired from a foreign company on or after January 1, 2017.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_9" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">Starting from 2017
under Amendment 73 to the Investment Law, part of the Company&#8217;s taxable income in Israel is entitled to a preferred <ix:nonFraction contextRef="c0" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:TaxRateEffectOfTaxLosses" scale="-2" unitRef="pure">12</ix:nonFraction>% tax rate.
Since 2019, under SPTE the tax rate for part of the Company&#8217;s taxable income in Israel has been reduced to a <ix:nonFraction contextRef="c286" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:TaxRateEffectOfTaxLosses" scale="-2" unitRef="pure">6</ix:nonFraction>% corporate tax rate.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_10" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_9"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">One of its Israeli
subsidiaries have elected to apply the new incentives regime under the Amendment to their industrial activity in Israel, subject to meeting
its requirements, starting in 2011.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_11" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_10"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">In 2015, the Company
transitioned to the preferred enterprise track entitling it to a preferred <ix:nonFraction contextRef="c251" decimals="2" format="ixt:num-dot-decimal" name="ifrs-full:TaxRateEffectFromChangeInTaxRate" scale="-2" unitRef="pure">16</ix:nonFraction>% tax rate under Amendment 73 to the Investment Law.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation><div>

</div><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
<tr style="text-transform: uppercase; vertical-align: top; text-align: justify">
<td style="text-transform: uppercase; width: 0in"></td><td style="text-transform: uppercase; text-align: left; width: 0.75in">Note 19:-</td><td style="text-transform: uppercase; text-align: justify">INCOME tax (C<span style="text-transform: none">ont</span>.)</td>
</tr>
</table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_12" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_11"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"><span style="text-decoration:underline">Amendment 74 to
the Encouragement Law:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_13" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_12"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">On November 15, 2021,
the Economic Efficiency Law (Legislative Amendments for Achieving Budget Targets for the 2021 and 2022 Budget Years), 2021 (the &#8220;Economic
Efficiency Law&#8221;), was enacted. This Law establishes a temporary order allowing Israeli companies to release tax-exempt earnings
(&#8220;trapped earnings&#8221; or &#8220;accumulated earnings&#8221;) accumulated until December 31, 2020, through a mechanism established
for a reduced corporate income tax rate applicable to those earnings (the &#8220;Temporary Order&#8221;)<span style="font-family: Times New Roman, Times, Serif">.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_14" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_13"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">In addition to the
reduced corporate income tax (CIT) rate, Article 74 to the Encouragement Law was amended whereby effective from August 15, 2021, for any
dividend distribution (including a dividend as per Article 51B to the Encouragement Law) by a company which has trapped earnings, there
will be a requirement to allocate a portion of that distribution to the trapped earnings<span style="font-family: Times New Roman, Times, Serif">.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_15" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_14"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">The tax-exempt income
is attributable to certain Group members&#8217; previous status as &#8220;Approved Enterprise&#8221; and &#8220;Benefited Enterprise&#8221;.
Such tax-exempt income cannot be distributed to shareholders without subjecting the Company to payable income taxes. If dividends are
distributed from previous tax-exempt profits, the Company will be liable for income tax at the rate applicable to its profits from the
Approved Enterprise in at the tax rate enacted in the year in which the income was earned<span style="font-family: Times New Roman, Times, Serif">.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_16" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_15"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">According to the Temporary
Order, the reduction of CIT will apply to earnings that are released (with no requirement for an actual distribution) within a period
of one year from the date of enactment of the Temporary Order. The reduction in the CIT is dependent on the proportion of the trapped
earnings that are released in relation to the total trapped earnings, and on the applicable CIT rate in the years the earnings were generated.
Consequently, the larger the proportion of the trapped earnings that are released, the lower the tax in respect of the distribution. The
minimum tax rate is <ix:nonFraction contextRef="c250" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:TaxEffectFromChangeInTaxRate" scale="0" unitRef="usd">6</ix:nonFraction>%. Further, a company that elects to pay a reduced CIT is required to invest in its industrial enterprise a designated
amount in accordance with the Economic Efficiency Law within a period of five years commencing from the tax year in which the election
is made. The designated investment should be utilized for the acquisition of production assets, and/or investments in research and development
and/or compensation to additional new employees<span style="font-family: Times New Roman, Times, Serif">.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_17" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_16"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">In November 2022,
the Company elected to benefit from the Temporary Order and filed its application for the Temporary Order and paid the required reduced
CIT as per the provisions of the Economic Efficiency Law in respect of its total accumulated tax-exempt earnings amounting to NIS <ix:nonFraction contextRef="c287" decimals="0" format="ixt:num-dot-decimal" name="mgic:AccumulatedTaxExemptEarnings" scale="0" unitRef="ils">25,022</ix:nonFraction>
(approximately $<ix:nonFraction contextRef="c287" decimals="-3" format="ixt:num-dot-decimal" name="mgic:AccumulatedTaxExemptEarnings" scale="3" unitRef="usd">7,100</ix:nonFraction>), and accordingly recognized a tax expense of NIS <ix:nonFraction contextRef="c287" decimals="0" format="ixt:num-dot-decimal" name="mgic:TaxExpenses" scale="0" unitRef="ils">2,502</ix:nonFraction> (approximately $<ix:nonFraction contextRef="c287" decimals="-3" format="ixt:num-dot-decimal" name="mgic:TaxExpenses" scale="3" unitRef="usd">711</ix:nonFraction>). As of December 31,2022, all the trapped
earnings were released.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_18" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_17"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">The Company has received
final tax assessments through the year 2016.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_19" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_18"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">The Company subsidiaries
have received final tax assessments (or assessments that are deemed final) through the tax year 2017.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"></p></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
<tr style="text-transform: uppercase; vertical-align: top; text-align: justify">
<td style="text-transform: uppercase; width: 0in"></td><td style="text-transform: uppercase; text-align: left; width: 0.75in">Note 19:-</td><td style="text-transform: uppercase; text-align: justify">INCOME tax (C<span style="text-transform: none">ont</span>.)</td>
</tr>
</table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_20" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_19"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">Tax benefits under
the Law for the Encouragement of Industry (Taxes), 1969:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_21" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_20"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">The Company qualifies
as an Industrial Company within the meaning of the Law for the Encouragement of Industry (Taxes), 1969 (the &#8220;Industrial Encouragement
Law&#8221;). The Industrial Encouragement Law defines an &#8220;Industrial Company&#8221; as a company that is resident in Israel and
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from an enterprise whose major activity in a given tax year is industrial production. Under the Industrial Encouragement Law, the Company
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depreciation rates on equipment and buildings.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_22" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_21"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">Eligibility for the
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_23" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_22"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.25in">3)</td><td style="text-align: justify">Foreign Exchange Regulations:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_24" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_23"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">Under the Foreign
Exchange Regulations, the Company and one of its Israeli subsidiaries calculate their tax liability in U.S. dollars according to certain
orders. The tax liability, as calculated in U.S. dollars is translated into NIS according to the exchange rate as of December 31 of each
year.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_25" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_24"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.25in">4)</td><td style="text-align: justify">Income tax on non-Israeli subsidiaries</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_26" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_25"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">Non-Israeli subsidiaries
are taxed according to the tax laws in their respective domiciles of residence. If earnings are distributed to Israel in the form of dividends
or otherwise, the Company may be subject to additional Israeli income taxes (subject to an adjustment for foreign tax credits) and foreign
withholding tax rates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_27" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_26"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">Neither Israeli income
taxes, foreign withholding taxes nor deferred income taxes were provided in relation to undistributed earnings of the non-Israeli subsidiaries.
This is because the Company intends to permanently reinvest undistributed earnings in the foreign subsidiaries in which those earnings
arose. If these earnings were distributed in the form of dividends or otherwise, the Company would be subject to additional Israeli income
taxes (subject to an adjustment for foreign tax credits) and non-Israeli withholding taxes.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_28" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_27"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">As of December 31,
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if distributed as dividends. However, a determination of the amount of the unrecognized deferred tax liability for temporary difference
related to those undistributed earnings of foreign subsidiaries is not practicable due to the complexity of the structure of our group
of subsidiaries for tax purposes and the difficulty of projecting the amount of future tax liability.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 141.75pt; text-align: justify; text-indent: -28.35pt">&#160;</p></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 141.75pt; text-align: justify; text-indent: -28.35pt"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 141.75pt; text-align: justify; text-indent: -28.35pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 141.75pt; text-align: justify; text-indent: -28.35pt">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
<tr style="text-transform: uppercase; vertical-align: top; text-align: justify">
<td style="text-transform: uppercase; width: 0in"></td><td style="text-transform: uppercase; text-align: left; width: 0.75in">Note 19:-</td><td style="text-transform: uppercase; text-align: justify">INCOME tax (C<span style="text-transform: none">ont</span>.)</td>
</tr>
</table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 141.75pt; text-align: justify; text-indent: -28.35pt"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 141.75pt; text-align: justify; text-indent: -28.35pt">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_29" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_28"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.25in">5)</td><td style="text-align: justify">Net operating loss carried forward:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.25in 0pt 0; text-align: justify; text-indent: -0.25in">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_30" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_29"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">As of December 31,
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_31" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_30"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">One of the Company&#8217;s
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_32" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_31"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">Two of the Company&#8217;s
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_33" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_32"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.25in">6)</td><td style="text-align: justify">Deferred tax liabilities, net:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt">&#160;</p></ix:continuation><div>

</div><div>

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<td style="width: 1.25in"></td><td style="width: 0.25in; text-align: left">1)</td><td style="text-align: justify"><span style="text-decoration:underline">Presentation in the consolidated statements of financial
position</span>:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_35" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_34"><ix:nonNumeric contextRef="c0" escape="true" name="srt:ScheduleOfCondensedFinancialStatementsTableTextBlock"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">January 1,</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
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    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_36" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_35"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1.25in"></td><td style="width: 0.25in; text-align: left">2)</td><td style="text-align: justify"><span style="text-decoration:underline">Composition of deferred taxes</span>:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_37" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_36"><ix:nonNumeric contextRef="c0" escape="true" name="mgic:DisclosureOfCompositionOfDeferredTaxesTableTextBlock"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p><div>

</div><!-- Field: Page; Sequence: 174; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->60<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_38" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_37"><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
<tr style="text-transform: uppercase; vertical-align: top; text-align: justify">
<td style="text-transform: uppercase; width: 0in"></td><td style="text-transform: uppercase; text-align: left; width: 0.75in">Note 19:-</td><td style="text-transform: uppercase; text-align: justify">INCOME tax (C<span style="text-transform: none">ont</span>.)</td>
</tr>
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_39" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_38"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left">7)</td><td style="text-align: justify">Income tax (tax benefit) consist of the following:</td>
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_40" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_39"><ix:nonNumeric contextRef="c0" escape="true" name="mgic:DisclosureOfIncomeTaxTableTextBlock"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_41" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_40"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left">8)</td><td style="text-align: justify">Theoretical tax:</td>
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfIncomeTaxExplanatory-c0_cont_42" id="_DisclosureOfIncomeTaxExplanatory-c0_cont_41"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">The following table
presents reconciliation between the theoretical tax expense, assuming that all income was taxed at statutory tax rates, and the actual
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</div><div>

</div><ix:continuation id="_DisclosureOfIncomeTaxExplanatory-c0_cont_42"><ix:nonNumeric contextRef="c0" escape="true" name="mgic:DisclosureOfTheoreticalTaxExpenseTableTextBlock"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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ended <br/>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -9pt; padding-left: 9pt">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; text-indent: -9pt; padding-left: 9pt">Tax-deductible costs, not included in the accounting costs</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c5" decimals="-3" format="ixt:num-dot-decimal" name="mgic:NondeductibleExpensesAndTaxExpensesInRespectOfPriorYearsNet" scale="3" unitRef="usd">1,001</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Uncertain tax positions and other</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">Taxes on income</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><ix:nonFraction contextRef="c5" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods" scale="3" unitRef="usd">10,278</ix:nonFraction></td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><ix:nonFraction contextRef="c0" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods" scale="3" unitRef="usd">11,138</ix:nonFraction></td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr>
  </table></ix:nonNumeric></ix:continuation><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfRevenueExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfRevenueExplanatory"><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><span style="font-size: 10pt"><b>NOTE 20:-</b></span></td><td style="text-align: justify"><span style="font-size: 10pt"><b>REVENUE RECOGNITION</b></span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:nonNumeric><div>
</div><div>

</div><ix:continuation continuedAt="_DisclosureOfRevenueExplanatory-c0_cont_2" id="_DisclosureOfRevenueExplanatory-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Remaining performance obligations represent
contract revenue that has not yet been recognized, which includes deferred revenue and amounts that will be invoiced and recognized as
revenue in future periods. The aggregate amount of consideration allocated to performance obligations either not satisfied or partially
unsatisfied was approximately&#160;$<ix:nonFraction contextRef="c0" decimals="-5" format="ixt:num-dot-decimal" name="mgic:AggregateAmount" scale="6" unitRef="usd">65.7</ix:nonFraction>&#160;million&#160;as of December 31, 2022. The Company expects to recognize approximately&#160;<ix:nonFraction contextRef="c0" decimals="2" format="ixt:num-dot-decimal" name="mgic:PercentageOfPerformanceObligations" scale="-2" unitRef="pure">58</ix:nonFraction>%
in 2023 from remaining performance obligations as of December 31, 2022, and the remainder thereafter.&#160;Remaining performance obligations
include the remaining&#160;non-cancelable,&#160;committed and fixed portion of these contracts for their entire duration; the remaining
performance obligations related to professional services contracts that are on a time and materials basis were excluded, as the Company
elected to apply the practical expedient in accordance with IFRS 15.&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt">&#160;</p></ix:continuation><div>


</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt"></p><div>

</div><!-- Field: Page; Sequence: 175; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->61<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><span style="font-size: 10pt"><b>NOTE 20:-</b></span></td><td style="text-align: justify"><span style="font-size: 10pt"><b>REVENUE RECOGNITION  (C<span style="text-transform: none">ont</span>.)</b></span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfRevenueExplanatory-c0_cont_3" id="_DisclosureOfRevenueExplanatory-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="text-decoration:underline">Contract balances</span>:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfRevenueExplanatory-c0_cont_4" id="_DisclosureOfRevenueExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The following table provides information
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(in thousands):</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfRevenueExplanatory-c0_cont_5" id="_DisclosureOfRevenueExplanatory-c0_cont_4"><ix:nonNumeric contextRef="c0" continuedAt="mgic_ScheduleOfDeferredRevenuesFromContractsWithCustomersTableTextBlock-c0_cont_1" escape="true" name="mgic:ScheduleOfDeferredRevenuesFromContractsWithCustomersTableTextBlock"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfRevenueExplanatory-c0_cont_6" id="_DisclosureOfRevenueExplanatory-c0_cont_5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">An analysis of past due but not impaired trade
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfRevenueExplanatory-c0_cont_7" id="_DisclosureOfRevenueExplanatory-c0_cont_6"><ix:nonNumeric contextRef="c0" escape="true" name="ifrs-full:DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersExplanatory"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfRevenueExplanatory-c0_cont_8" id="_DisclosureOfRevenueExplanatory-c0_cont_7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Trade receivables are recorded when
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfRevenueExplanatory-c0_cont_9" id="_DisclosureOfRevenueExplanatory-c0_cont_8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Billing terms and conditions generally
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfRevenueExplanatory-c0_cont_10" id="_DisclosureOfRevenueExplanatory-c0_cont_9"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Unbilled receivables relate to revenue
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to its fulfilled obligations.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfRevenueExplanatory-c0_cont_11" id="_DisclosureOfRevenueExplanatory-c0_cont_10"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Contract assets relate to unbilled
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amounts were earned but not contractually billable as of the balance sheet date, and the right to consideration is generally subject to
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfRevenueExplanatory-c0_cont_12" id="_DisclosureOfRevenueExplanatory-c0_cont_11"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Deferred revenues represent contract
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfRevenueExplanatory-c0_cont_13" id="_DisclosureOfRevenueExplanatory-c0_cont_12"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">During the year ended December 31,
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfRevenueExplanatory-c0_cont_14" id="_DisclosureOfRevenueExplanatory-c0_cont_13"><ix:continuation id="mgic_ScheduleOfDeferredRevenuesFromContractsWithCustomersTableTextBlock-c0_cont_1"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
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</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfRevenueExplanatory-c0_cont_15" id="_DisclosureOfRevenueExplanatory-c0_cont_14"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><div>

</div><ix:continuation id="_DisclosureOfRevenueExplanatory-c0_cont_15"><ix:nonNumeric contextRef="c0" escape="true" name="ifrs-full:AnalysisOfAgeOfFinancialAssetsThatArePastDueButNotImpaired"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in"></p><div>

</div><!-- Field: Page; Sequence: 176; Value: 1 --><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in">&#160;</p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfFinanceIncomeExpenseExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory"><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><span style="font-size: 10pt"><b>NOTE 21:-</b></span></td><td style="text-align: justify"><span style="font-size: 10pt"><b>SELECTED STATEMENTS OF INCOME
DATA</b></span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p></ix:nonNumeric><div>
</div><div>

</div><ix:continuation continuedAt="_DisclosureOfFinanceIncomeExpenseExplanatory-c0_cont_2" id="_DisclosureOfFinanceIncomeExpenseExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p></ix:continuation><div>
</div><div>

</div><ix:continuation continuedAt="_DisclosureOfFinanceIncomeExpenseExplanatory-c0_cont_3" id="_DisclosureOfFinanceIncomeExpenseExplanatory-c0_cont_2"><ix:nonNumeric contextRef="c0" escape="true" name="mgic:ResearchAndDevelopmentCostsNetTableTextBlock"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfFinanceIncomeExpenseExplanatory-c0_cont_4" id="_DisclosureOfFinanceIncomeExpenseExplanatory-c0_cont_3"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><tr style="vertical-align: top; text-align: justify">
<td style="width: 72px"></td><td style="width: 24px; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Selling
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</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfFinanceIncomeExpenseExplanatory-c0_cont_5" id="_DisclosureOfFinanceIncomeExpenseExplanatory-c0_cont_4"><ix:nonNumeric contextRef="c0" escape="true" name="mgic:ScheduleOfSellingAndMarketingExpensesTableTextBlock"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfFinanceIncomeExpenseExplanatory-c0_cont_6" id="_DisclosureOfFinanceIncomeExpenseExplanatory-c0_cont_5"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><tr style="vertical-align: top; text-align: justify">
<td style="width: 72px"></td><td style="width: 24px; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">c.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">General
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</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p></ix:continuation><div>

</div><div>

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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfFinanceIncomeExpenseExplanatory-c0_cont_8" id="_DisclosureOfFinanceIncomeExpenseExplanatory-c0_cont_7"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><div>

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    <td style="text-indent: -9pt; padding-left: 9pt">&#160;</td><td>&#160;</td>
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</div><div>

</div><!-- Field: Page; Sequence: 177; Value: 1 --><div>
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    </div><!-- Field: /Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"></p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><span style="font-size: 10pt"><b>NOTE 21:-</b></span></td><td style="text-align: justify"><span style="font-size: 10pt"><b>SELECTED STATEMENTS OF INCOME
DATA (Cont.)</b></span></td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"><span style="font-weight: normal">&#160;</span></p><div>

</div><ix:continuation continuedAt="_DisclosureOfFinanceIncomeExpenseExplanatory-c0_cont_10" id="_DisclosureOfFinanceIncomeExpenseExplanatory-c0_cont_9"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">e.</td><td style="text-align: justify">Earnings per share:</td>
</tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfFinanceIncomeExpenseExplanatory-c0_cont_11" id="_DisclosureOfFinanceIncomeExpenseExplanatory-c0_cont_10"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">The following table
presents the computation of basic and diluted net earnings per share for the Company:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: 0in">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation id="_DisclosureOfFinanceIncomeExpenseExplanatory-c0_cont_11"><ix:nonNumeric contextRef="c0" escape="true" name="ifrs-full:DisclosureOfEarningsPerShareExplanatory"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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ended <br/>
December 31,</b></p></td><td style="padding-bottom: 1.5pt">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  </table></ix:nonNumeric></ix:continuation><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: 0in">&#160;</p><div>

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<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><span style="text-transform: uppercase">Note 22:-</span></td><td style="text-align: justify"><span style="text-transform: uppercase">operating
segments</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: 0pt">&#160;</p></ix:nonNumeric><div>

</div><div>

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<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">a.</span></td><td style="text-align: justify"><span style="font-size: 10pt">The Company reports its results
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</div><div>

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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfEntitysReportableSegmentsExplanatory-c0_cont_4" id="_DisclosureOfEntitysReportableSegmentsExplanatory-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Headquarters&#8217; general and administrative
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfEntitysReportableSegmentsExplanatory-c0_cont_5" id="_DisclosureOfEntitysReportableSegmentsExplanatory-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><b>Software services</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfEntitysReportableSegmentsExplanatory-c0_cont_6" id="_DisclosureOfEntitysReportableSegmentsExplanatory-c0_cont_5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company develops markets, sells and
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</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 178; Value: 1 --><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><span style="text-transform: uppercase">Note 22:-</span></td><td style="text-align: justify"><span style="text-transform: uppercase">operating
                                            segments </span><span style="text-transform: none">(Cont.)</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><div>

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</div><div>

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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfEntitysReportableSegmentsExplanatory-c0_cont_9" id="_DisclosureOfEntitysReportableSegmentsExplanatory-c0_cont_8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">There are no significant transactions
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfEntitysReportableSegmentsExplanatory-c0_cont_10" id="_DisclosureOfEntitysReportableSegmentsExplanatory-c0_cont_9"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 179; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->65<!-- Field: /Sequence --></p></div><div>
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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><span style="text-transform: uppercase">Note 22:-</span></td><td style="text-align: justify"><span style="text-transform: uppercase">operating
                                            segments </span><span style="text-transform: none">(Cont.</span><span style="text-transform: uppercase">)</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="_DisclosureOfEntitysReportableSegmentsExplanatory-c0_cont_12" id="_DisclosureOfEntitysReportableSegmentsExplanatory-c0_cont_11"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
<tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="text-align: left; width: 0.25in"><span style="font-size: 10pt">c.</span></td><td style="text-align: justify"><span style="font-size: 10pt">The Company&#8217;s business
is divided into the following geographic areas: United States, Israel, Europe, Japan and other regions. Total revenues are attributed
to geographic areas based on the location of the customers.</span></td>
</tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfEntitysReportableSegmentsExplanatory-c0_cont_13" id="_DisclosureOfEntitysReportableSegmentsExplanatory-c0_cont_12"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The following table presents total
revenues classified according to geographical destination for the years ended December 31, 2021 and 2022:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="_DisclosureOfEntitysReportableSegmentsExplanatory-c0_cont_14" id="_DisclosureOfEntitysReportableSegmentsExplanatory-c0_cont_13"><ix:nonNumeric contextRef="c0" escape="true" name="mgic:ScheduleOfRevenuesClassifiedToGeographicalDestinationExplanatory"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: White">
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfEntitysReportableSegmentsExplanatory-c0_cont_15" id="_DisclosureOfEntitysReportableSegmentsExplanatory-c0_cont_14"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
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assets are located as follows:</span></td>
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</div><div>

</div><ix:continuation continuedAt="_DisclosureOfEntitysReportableSegmentsExplanatory-c0_cont_16" id="_DisclosureOfEntitysReportableSegmentsExplanatory-c0_cont_15"><ix:nonNumeric contextRef="c0" escape="true" name="mgic:ScheduleOfLonglivedAssetsExplanatory"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_1" escape="true" name="mgic:DisclosureOfTransitionToIFRSTextBlock"><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
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</div><div>

</div><ix:continuation continuedAt="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_3" id="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Accordingly, The Company has prepared
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ended December 31, 2021, as described in the summary of significant accounting policies (Note 2). In preparing the financial statements,
The Company&#8217;s opening consolidated statement of financial position was prepared as of January 1, 2021, The Company&#8217;s date
of transition to IFRS. This note explains the principal adjustments made by The Company in representing its U.S. GAAP financial statements,
including the statement of financial position as of January 1 and December 31, 2021 and the financial statements for the year ended December
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</div><div>

</div><ix:continuation continuedAt="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_4" id="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">As a first-time adopter of IFRS, The
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</div><div>

</div><ix:continuation continuedAt="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_5" id="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company has applied the mandatory
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</div><div>

</div><ix:continuation continuedAt="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_6" id="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Business combinations &#8212;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 85.05pt">&#160;</p></ix:continuation><div>

</div><div>

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combination of all subsidiaries acquired during the years ended December 31 2020 and 2021, which were consolidated as subsidiaries under
the U.S. GAAP in the Company&#8217;s consolidated statements of financial position before the date of the transition to IFRS, the Company
elected not to apply IFRS 3 Business Combinations retrospectively. As a result, assets recognized, and liabilities assumed in past business
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 85.05pt"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 85.05pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

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per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 85.05pt">&#160;</p><div>

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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left">LONG-TERM ASSETS:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-left: 9pt">Deferred taxes</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-left: 9pt">Right-of-use assets</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c347" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:RightofuseAssets" scale="3" unitRef="usd">24,509</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-left: 9pt">Other accounts receivable</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c347" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:OtherReceivables" scale="3" unitRef="usd">5,507</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-107">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-left: 9pt">Property, plants and equipment, net</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c347" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:PropertyPlantAndEquipment" scale="3" unitRef="usd">5,988</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-108">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-left: 9pt">Intangible assets, net</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-109">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1.5pt; padding-left: 9pt">Goodwill</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c347" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Goodwill" scale="3" unitRef="usd">135,682</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-110">-</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Goodwill" scale="3" unitRef="usd">135,682</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c347" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NoncurrentAssets" scale="3" unitRef="usd">236,160</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction contextRef="c348" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NoncurrentAssets" scale="3" sign="-" unitRef="usd">5,981</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NoncurrentAssets" scale="3" unitRef="usd">230,179</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left; padding-bottom: 4pt">Total&#160;assets</td><td style="padding-bottom: 4pt">&#160;</td>
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    <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(<ix:nonFraction contextRef="c348" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Assets" scale="3" sign="-" unitRef="usd">5,981</ix:nonFraction></td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:Assets" scale="3" unitRef="usd">441,405</ix:nonFraction></td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">LIABILITIES AND EQUITY</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left">CURRENT LIABILITIES:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-left: 9pt">Short term debt</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right"><ix:nonFraction contextRef="c347" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ShorttermBorrowings" scale="3" unitRef="usd">11,529</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right"><ix:nonFraction contextRef="c348" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ShorttermBorrowings" scale="3" unitRef="usd">69</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:ShorttermBorrowings" scale="3" unitRef="usd">11,598</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-left: 9pt">Trade payables</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c347" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:TradeAndOtherPayablesToTradeSuppliers" scale="3" unitRef="usd">14,250</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-111">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:TradeAndOtherPayablesToTradeSuppliers" scale="3" unitRef="usd">14,250</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-left: 9pt">Accrued expenses and other accounts payable</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c347" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities" scale="3" unitRef="usd">41,846</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c348" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities" scale="3" sign="-" unitRef="usd">69</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities" scale="3" unitRef="usd">41,777</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-left: 9pt">Current maturities of operating lease liabilities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c347" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentLeaseLiabilities" scale="3" unitRef="usd">3,413</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c348" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentLeaseLiabilities" scale="3" unitRef="usd">379</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentLeaseLiabilities" scale="3" unitRef="usd">3,792</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-left: 9pt">Liabilities in respect of business combinations</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c347" decimals="-3" format="ixt:num-dot-decimal" name="mgic:LiabilityInRespectOfBusinessCombinationsCurrent" scale="3" unitRef="usd">4,998</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-112">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="mgic:LiabilityInRespectOfBusinessCombinationsCurrent" scale="3" unitRef="usd">4,998</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-left: 9pt">Redeemable non-controlling interests</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-113">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c348" decimals="-3" format="ixt:num-dot-decimal" name="mgic:PutOptionsOfNoncontrollingInterestsCurrent" scale="3" unitRef="usd">14,611</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="mgic:PutOptionsOfNoncontrollingInterestsCurrent" scale="3" unitRef="usd">14,611</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">Deferred revenue and customer advances</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c347" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentDerivativeFinancialLiabilities" scale="3" unitRef="usd">8,793</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-114">-</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentDerivativeFinancialLiabilities" scale="3" unitRef="usd">8,793</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Total&#160;current liabilities</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">REDEEMABLE NON-CONTROLLING INTEREST</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-118">-</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold">EQUITY</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-119">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:IssuedCapital" scale="3" unitRef="usd">1,164</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-left: 9pt">Additional paid-in capital</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-left: 9pt">Accumulated other comprehensive loss</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c347" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:AccumulatedOtherComprehensiveIncome" scale="3" unitRef="usd">7,835</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">Accumulated earnings</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c348" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:RetainedEarnings" scale="3" unitRef="usd">22,953</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c3" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:RetainedEarnings" scale="3" unitRef="usd">62,673</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Non-controlling interests</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c347" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:NoncontrollingInterests" scale="3" unitRef="usd">8,574</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Total&#160;equity</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-indent: -56.7pt"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->68<!-- Field: /Sequence --></p></div><div>
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    </div><!-- Field: /Page --><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-indent: -56.7pt">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 0in"></td>
    <td style="text-align: justify; width: 0.75in"><span style="font-size: 10pt"><b>NOTE 23:-</b></span></td>
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</table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-indent: -56.7pt">&#160;</p><div>

</div><ix:continuation continuedAt="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_10" id="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_9"><ix:continuation id="_DisclosureOfFinanceIncomeExplanatory-c0_cont_1"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <td style="text-align: justify">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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Adjustments<br/>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt">Liabilities in respect of business combinations</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-131">-</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentDerivativeFinancialLiabilities" scale="3" unitRef="usd">10,771</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c349" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentLiabilities" scale="3" unitRef="usd">108,265</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c350" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:CurrentLiabilities" scale="3" unitRef="usd">22,515</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: justify; text-indent: -0.1in; padding-left: 0.1in">LONG-TERM&#160;&#160;LIABILITIES:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-132">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c4" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:LongtermBorrowings" scale="3" unitRef="usd">20,155</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt">Liability in respect of business combinations</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-133">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt">Deferred taxes</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c350" decimals="-3" format="ixt:num-dot-decimal" name="mgic:DeferredTaxLiabilitiesNonCurrent" scale="3" sign="-" unitRef="usd">167</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt">Redeemable non-controlling interests</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-134">-</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c350" decimals="-3" format="ixt:num-dot-decimal" name="mgic:PutOptionsOfNoncontrollingInterestsNoncurrent" scale="3" unitRef="usd">6,137</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction contextRef="c350" decimals="-3" format="ixt:num-dot-decimal" name="ifrs-full:OtherNoncurrentLiabilities" scale="3" sign="-" unitRef="usd">3,646</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
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</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-indent: -56.7pt"></p><div>

</div><!-- Field: Page; Sequence: 183; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->69<!-- Field: /Sequence --></p></div><div>
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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-indent: -56.7pt">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 0in"></td>
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</table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-indent: -56.7pt">&#160;</p><div>

</div><ix:continuation continuedAt="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_11" id="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_10"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Reconciliation of the consolidated statement
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</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-indent: -56.7pt"></p><div>

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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
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</table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

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</div><div>

</div><ix:continuation continuedAt="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_14" id="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_13"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
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</div><ix:continuation continuedAt="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_15" id="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_14"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Under the U.S. GAAP, the Company has
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recognized to conform with the transition to IFRS, as the book basis of such right of use assets and lease liabilities differs between
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</div><div>

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</div><div>

</div><ix:continuation continuedAt="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_17" id="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_16"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In accordance with U.S. GAAP, The Company&#8217;s
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14 of the Severance Pay Law) was calculated pursuant to the Severance Pay Law, based on the most recent salary of the employees, multiplied
by the number of years of employment as of the reporting date. The Company&#8217;s plan assets, which cover part of this obligation, were
presented as an asset on the Company&#8217;s consolidated statements of financial position, based on its cash-surrendered value. In accordance
with IFRS, the liability for severance pay is measured using the projected unit credit method and actuarial assumptions (which include
rates of employee turnover and future salary increases based on the estimated timing of payment), and is presented based on discounted
expected future cash flows. The liability for severance pay shown in the statement of financial position, is net of the fair value of
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</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify">&#160;</p><div>

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the unrecognized portion of actuarial gains and losses from the inception of the defined benefit plans. Instead, The Company applies IAS
19 Employee Benefits from the date of transition. Therefore, at the date of transition, The Company recognizes the pension obligations
in accordance with IAS 19 Employee Benefits and no unrecognized actuarial gains and losses are presented at the transition date. The Company&#8217;s
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</div><div>

</div><ix:continuation continuedAt="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_19" id="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_18"><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
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</div><div>

</div><ix:continuation continuedAt="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_20" id="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_19"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Under U.S. GAAP, redeemable non-controlling
interests were classified as mezzanine equity on the consolidated statements and measured at each reporting period at the higher of their
redemption amount or the non-controlling interest book value. The profit attributed to the redeemable non-controlling interests was recorded
in profit or loss and included in &#8220;Net income attributable to redeemable non-controlling interests&#8221;. Changes to the redemption
amount of the redeemable non-controlling interests were recorded in retained earnings. Such change to the redemption amount of the redeemable
non-controlling interests was excluded from the net income attributable to Magic shareholders for the purpose of calculating the earnings
per share numerator.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_21" id="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_20"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In accordance with IFRS, put option
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</div><div>

</div><ix:continuation continuedAt="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_22" id="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_21"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">When the Company grants to non-controlling
interests a put option to sell part or all of their interests in a subsidiary, during a certain period, even if such purchase obligation
is conditional on the counterparty&#8217;s exercise of its contractual right to cause such redemption, if the put option agreement does
not transfer to the Company any benefits incidental to ownership of the equity instrument (i.e. the Company does not have a present ownership
in the shares concerned) then at the end of each reporting period the non-controlling interests (to which a portion of net profit attributable
to non-controlling interests is allocated) are classified as a financial liability, as if such put-able equity instrument was redeemed
on that date. The difference between the non-controlling interests carrying amount at the end of the reporting period and the present
value of the liability is recognized directly in equity of the Company, under &#8220;Additional paid-in capital&#8221;, and in contrary
to U.S. GAAP, such difference has no effect on the calculation of the earnings per share numerator.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_23" id="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_22"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company remeasures the financial
liability at the end of each reporting period based on the estimated present value of the consideration to be transferred upon the exercise
of the put option.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_24" id="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_23"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">If the option is exercised in subsequent
periods, the consideration paid upon exercise is treated as settlement of the liability. If the put option expires, the liability is settled
and a portion of the investment in the subsidiary disposed of, without loss of control therein.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 186; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->72<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 72px; text-align: justify"><span style="font-size: 10pt"><b>NOTE 23:-</b></span></td>
    <td style="text-align: justify"><span style="font-size: 10pt; text-transform: uppercase"><b>Transition to IFRS</b></span><b> <span style="font-size: 10pt">(Cont.)</span></b></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_25" id="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_24"><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font: normal 10pt Times New Roman, Times, Serif">4.</span></td><td style="text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">Right
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</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p></ix:continuation><div>
</div><div>

</div><ix:continuation continuedAt="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_26" id="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_25"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Under U.S. GAAP, ROU assets and liabilities
are recognized on the commencement date based on the present value of remaining lease payments over the lease term. For this purpose,
the Company considers only payments that are fixed and determinable at the time of commencement. As most of the Company&#8217;s leases
do not provide an implicit rate, the Company uses its incremental borrowing rate (&#8220;IBR&#8221;) based on the information available
on the commencement date in determining the present value of lease payments. The Company&#8217;s IBR is estimated to approximate the interest
rate for collateralized borrowing with similar terms and payments and in economic environments where the leased asset is located. Certain
leases include options to extend or terminate the lease. The ROU asset also includes any lease payments made prior to commencement and
is recorded net of any lease incentives received. Moreover, the ROU asset may also include initial direct costs, which are incremental
costs of a lease that would not have been incurred if the lease had not been obtained. The Company uses the long-lived assets impairment
guidance in ASC Subtopic 360-10, &#8220;Property, Plant, and Equipment - Overall,&#8221; to determine whether a right-of-use asset is
impaired, and if so, the amount of the impairment loss to recognize. An option to extend the lease is considered in connection with determining
the ROU asset and lease liability when it is reasonably certain that the Company will exercise that option. An option to terminate is
considered unless it is reasonably certain that the Company will not exercise the option.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_27" id="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_26"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In accordance with IFRS, <span style="background-color: white">for
leases in which the Company is the lessee, the Company recognizes on the commencement date of the lease a right-of-use asset and a lease
liability, excluding leases whose term is up to 12 months and leases for which the underlying asset is of low value. For these excluded
leases, the Company has elected to recognize the lease payments as an expense in profit or loss on a straight-line basis over the lease
term. In measuring the lease liability, the Company has elected to apply the practical expedient in IFRS 16 and does not separate the
lease components from the non-lease components (such as management and maintenance services, etc.) included in a single contract.&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="background-color: white">&#160;</span></p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_28" id="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_27"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On the commencement date, the lease
liability includes all unpaid lease payments discounted at the <span style="background-color: white">interest rate implicit in the lease,
if that rate can be readily determined, or otherwise using the Company&#8217;s incremental borrowing rate. After the commencement date,
the Company measures the lease liability using the effective interest rate method.&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="background-color: white">&#160;</span></p></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_29" id="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_28"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="background-color: white">On
the commencement date, the right-of-use asset is recognized in an amount equal to the lease liability plus lease payments already made
on or before the commencement date and initial direct costs incurred less any lease incentives received. The right-of-use asset is measured
by applying the cost model and depreciated over the shorter of its useful life or the lease term. The Company tests for impairment of
the right-of-use asset whenever there are indications of impairment pursuant to the provisions of IAS 36.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p></ix:continuation><div>




</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 187; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->73<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

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    <td style="text-align: justify"><span style="font-size: 10pt; text-transform: uppercase"><b>Transition to IFRS</b></span><b> <span style="font-size: 10pt">(Cont.)</span></b></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

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to the amounts reported in accordance with IFRS.</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p></ix:continuation><div>
</div><div>

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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;<span style="text-transform: uppercase"><b>&#160;</b></span></p></ix:continuation></ix:continuation><div>

</div><div>

</div><ix:continuation continuedAt="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_33" id="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_32"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">6.</span></td><td style="text-align: justify"><span style="font-size: 10pt">Certain reclassifications have
been made to the consolidated statements of financial position. Such reclassifications affect the presentation of certain items in the
consolidated statement of financial position, and have no impact on net income or equity of The Company:</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-indent: -56.7pt">&#160;</p></ix:continuation><div>
</div><div>

</div><ix:continuation continuedAt="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_34" id="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_33"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Under the U.S. GAAP, redeemable non-controlling
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interests are classified as financial liability on the consolidated statements of financial position ($<ix:nonFraction contextRef="c59" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:OtherShorttermEmployeeBenefits" scale="0" unitRef="usd">14,611</ix:nonFraction> and $<ix:nonFraction contextRef="c59" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:OtherLongtermBenefits" scale="0" unitRef="usd">9,315</ix:nonFraction> short-term
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</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 188; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->74<!-- Field: /Sequence --></p></div><div>
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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>MAGIC SOFTWARE ENTERPRISES LTD </b></p><div>



</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt">NOTES TO
THE CONSOLIDATED FINANCIAL STATEMENTS</p><div>

</div><!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -56.7pt"></p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>U.S. dollars in thousands, except share and
per share data</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 0px"></td>
    <td style="width: 72px; text-align: justify"><span style="font-size: 10pt"><b>NOTE 23:-</b></span></td>
    <td style="text-align: justify"><span style="font-size: 10pt; text-transform: uppercase"><b>Transition to IFRS</b></span><b> <span style="font-size: 10pt">(Cont.)</span></b></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_35" id="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_34"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Finance expenses and income - In accordance
with U.S. GAAP, financial income and expense were presented net in the Company&#8217;s consolidated statements of profit or loss (although
presented separately in a note). Under the IFRS, the Company has separately classified financial income and expense in its consolidated
financial statements.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p></ix:continuation><div>

</div><div>

</div><ix:continuation id="mgic_DisclosureOfTransitionToIFRSTextBlock-c0_cont_35"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Accrued interest on loans &#8211; Under
U.S. GAAP, the Company elected to present the accrued interest on loans as part of accrued expenses and other accounts payable in its
consolidated statements of financial position. Under IFRS, the Company elected to reclassify the balance to short term debt in its consolidated
statements of financial position, mainly in order to comply with parent company reporting requirements.</p></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-indent: -56.7pt">&#160;</p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_DisclosureOfEventsAfterReportingPeriodExplanatory-c0_cont_1" escape="true" name="ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0px"></td><td style="width: 72px; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><b>NOTE
                            24:-</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><b>SUBSEQUENT
                                            EVENTS</b></span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p></ix:nonNumeric><div>

</div><div>

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<td style="width: 0.75in"></td><td style="width: 0.25in">a)</td><td style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On March 9, 2023, the Company declared a cash dividend of $<ix:nonFraction contextRef="c282" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:DividendPayables" scale="0" unitRef="usd">14,728</ix:nonFraction>, or $<ix:nonFraction contextRef="c282" decimals="1" format="ixt:num-dot-decimal" name="ifrs-full:ParValuePerShare" scale="0" unitRef="usdPershares">0.3</ix:nonFraction> per share to its shareholders
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</div><div>

</div><ix:continuation id="_DisclosureOfEventsAfterReportingPeriodExplanatory-c0_cont_2"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
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the Company borrowed $<ix:nonFraction contextRef="c176" decimals="0" format="ixt:num-dot-decimal" name="ifrs-full:BorrowingCostsIncurred" scale="0" unitRef="usd">20,000</ix:nonFraction> for a four-year term (the &#8220;Bank Loan&#8221;). The Bank Loan will mature on March 27, 2027, and will
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">- - - - - - - - -
- - - - - - - - - -</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->75<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>MAGIC SOFTWARE ENTERPRISES LTD.&#160;</b></p><div>

</div><div><a id="s_003"></a></div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 100%; border-bottom: black 1.5pt solid; text-align: justify"><span style="font-size: 10pt"><b>APPENDIX TO CONSOLIDATED
    FINANCIAL STATEMENTS</b></span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>DETAILS OF SUBSIDIARIES AND AFFILIATE</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Details of the percentage of control of the share
capital and voting rights of subsidiaries and an affiliate as of December 31, 2022:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: justify"><span style="font-style: normal">Subsidiary
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    <td style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold; text-align: center"><span style="font-style: normal">Country
    of<br/>
    Incorporation</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-style: normal">&#160;</span></td>
    <td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-style: normal">Ownership<br/>
    Percentage</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-style: normal">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; width: 72%; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Magic
    Software Japan K.K</span></td><td style="width: 1%; font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="width: 15%; font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Japan</span></td><td style="width: 1%; font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="width: 1%; font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="width: 9%; font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="width: 1%; font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Magic
    Software Enterprises Inc.</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Delaware</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Magic
    Software Enterprises (UK) Ltd (shares held by Magic Software Enterprises Netherlands B.V.)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">United Kingdom</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Hermes
    Logistics Technologies Limited (shares held by Magic Software Enterprises (UK) Ltd)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">United Kingdom</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Magic
    Software Enterprises Spain Ltd (shares held by Magic Software Enterprises Netherlands B.V.)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Spain</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Coretech
    Consulting Group, Inc. (shares held by Magic Software Enterprises Inc)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Pennsylvania</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Coretech
    Consulting Group LLC (shares held by Magic Software Enterprises Inc)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Delaware</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Fusion
    Solutions LLC. (shares held by Coretech Consulting Group LLC)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Delaware</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Fusion
    Technical Solutions LLC. (shares held by Fusion Solutions LLC)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Delaware</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">49</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Xsell
    Resources Inc. (shares held by Coretech Consulting Group LLC)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Pennsylvania</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Magic
    Software Enterprises (Israel) Ltd</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Magic
    Software Enterprises Netherlands B.V.</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Netherlands</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Magic
    Software Enterprises France (shares held by Magic Software Enterprises Netherlands B.V.)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">France</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Magic
    Beheer B.V. (shares held by Magic Software Enterprises Netherlands B.V.)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Netherlands</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Magic
    Benelux B.V. (shares held by Magic Beheer B.V.)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Netherlands</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Magic
    Software Enterprises GMBH (shares held by Magic Software Enterprises Netherlands B.V.)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Germany</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Magic
    Software Enterprises India Pvt. Ltd</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">India</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Onyx
    Magyarorszag Szsoftverhaz (shares held by Magic Software Enterprises Netherlands B.V.)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Hungary</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Magix
    Integration (Proprietary) Ltd</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">South Africa</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">AppBuilder
    Solutions Ltd</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">United Kingdom</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Complete
    Business Solutions Ltd</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Datamind
    Technologies Ltd (shares held by Complete Business Solutions Ltd)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">CommIT
    Technology Solutions Ltd</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">77.8</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">CommIT
    Software Ltd (shares held by Comm-IT Technology Solutions Ltd.)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">CommIT
    Embedded Ltd (shares held by Comm-IT Technology Solutions Ltd.)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">75</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Valinor
    Ltd. (shares held by Comm-IT Technology Solutions Ltd.)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Dario
    Solutions IT Ltd (shares held by Comm-IT Technology Solutions Ltd.)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Quickode
    Ltd (shares held by Comm-IT Technology Solutions Ltd.)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Twingo
    Ltd (shares held by Comm-IT Technology Solutions Ltd.)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">60</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">9540
    Y.G. Soft I.T Ltd. (shares held by CommIT Software Ltd.)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">60</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">Pilat
    Europe Ltd.</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">United Kingdom</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Pilat
    (North America), Inc.</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">New Jersey</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
</table><div>

</div><p style="margin: 0">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>MAGIC SOFTWARE ENTERPRISES LTD.&#160;</b></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="border-bottom: black 1.5pt solid; width: 100%; text-align: justify"><span style="font-size: 10pt"><b>APPENDIX TO CONSOLIDATED
    FINANCIAL STATEMENTS</b></span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>


</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: justify"><span style="font-style: normal">Subsidiary
    Name</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-style: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold; text-align: center"><span style="font-style: normal">Country
    of<br/>
    Incorporation</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-style: normal">&#160;</span></td>
    <td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-style: normal">Ownership<br/>
    Percentage</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-style: normal">&#160;</span></td></tr>

<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify; width: 72%"><span style="font-style: normal; font-weight: normal">Roshtov
    Software Industries Ltd</span></td><td style="font-weight: bold; width: 1%"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center; width: 15%"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold; width: 1%"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left; width: 1%"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right; width: 9%"><span style="font-style: normal; font-weight: normal">80</span></td><td style="font-weight: bold; text-align: left; width: 1%"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">BridgeQuest
    Labs, Inc. (shares held by BridgeQuest, Inc.)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">North Carolina</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">BridgeQuest,
    Inc. (shares held by Magic Software Enterprises Inc.)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">North Carolina</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Allstates
    Consulting Services LLC (shares held by Magic Software Enterprises Inc.)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Delaware</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">F.T.S.
    - Formula Telecom Solutions Ltd.</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">FTS
    Bulgaria Ltd. (FTS Global Ltd.) (shares held by F.T.S. - Formula Telecom Solutions Ltd.)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Bulgaria</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Comblack
    IT Ltd</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">80.1</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Yes-IT
    Ltd. (shares held by Comblack IT Ltd)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Shavit
    Software (2009) Ltd. (shares held by Comblack Ltd)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">Infinigy
    (UK) Holdings Limited</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">United Kingdom</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Infinigy
    (US) Holding Inc (shares held by Infinigy (UK) Holdings Limited)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Georgia</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Infinigy
    Solutions LLC. (shares held by Infinigy (US) Holding Inc)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Georgia</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Infinigy
    Engineering LLP (shares held by Infinigy Solutions LLC.).</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Georgia</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Skysoft
    Solutions Ltd. (shares held by CommIT Embedded Ltd.)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">75</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Futurewave
    Systems, Inc. (shares held by Fusion Solutions LLC.)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Georgia</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">OnTarget
    Group, Inc</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">North Carolina</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">NetEffects,
    Inc. (shares held by Coretech Consulting Group LLC)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Missouri</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">PowWow
    Inc.</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">California</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">BA
    Microwaves Ltd.</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">56.67</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Stockell
    Information Systems Inc.</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Missouri</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Mobisoft
    Ltd.</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">73.75</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Magic
    Hands B.V.</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Netherlands</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Knowledge
    &amp; Solutions Software B.V.</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Netherlands</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Aptonet,
    Inc.</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Georgia</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Comm-IT
    USA, Inc.</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Delaware</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Comblack
    Municipal Services Ltd.</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">70</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Shavit
    Human resource Ltd.</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Menarva
    Ltd.</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Enable
    IT LLC. (shares held by Coretech Consulting Group LLC)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Delaware</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Enable
    IT Consulting Services Canada Inc. (shares held by Enable IT LLC.)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Canada</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Appush
    Technologies Ltd (Formerly known as Vidstart Ltd)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Israel</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">80.1</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Appush
    Inc. (Shares held by Appush Technologies Ltd)</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Delaware</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">The
    Goodkind Group, LLC</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">New York</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Goodkind
    Hospitality, LLC</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">Delaware</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: justify"><span style="font-style: normal; font-weight: normal">Intrabases
    SAS</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">France</span></td><td style="font-weight: bold"><span style="font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font-weight: bold; text-align: right"><span style="font-style: normal; font-weight: normal">100</span></td><td style="font-weight: bold; text-align: left"><span style="font-style: normal; font-weight: normal">%</span></td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->77<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b><span style="text-decoration:underline">REPORT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</span></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">To the Board of Directors and Shareholders of<br/>
Magic Software Japan K. K.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Opinion on the Financial Statements</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have audited the accompanying
statements of financial position of Magic Software Japan K.K. (the &#8220;Company&#8221;) as of January 1, 2021, December 31, 2021 and
December 31, 2022, and the related statements of profit or loss, comprehensive income and cash flows and for each of the two years in
the period ended December 31, 2022, and the related notes. In our opinion, based on our audits the financial statements present fairly,
in all material respects, the financial position of the Company at January 1, 2021, December 31, 2021 and December 31, 2022, and the results
of its operations and its cash flows for each of the two years in the period ended December 31, 2022 in conformity with International
Financial Reporting Standards as issued by the International Accounting Standards Board.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We also have audited, in accordance
with the standards of the Public Company Accounting Oversight Board (United States), (PCAOB), the Company&#8217;s internal control over
financial reporting as of December 31, 2022, based on Section 404 of the Sarbanes-Oxley Act (&#8220;SOA&#8221;) and our report dated February
20, 2023 expressed an unqualified opinion thereon.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Basis for Opinion</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">These financial statements
are the responsibility of the Company&#8217;s management. Our responsibility is to express an opinion on these financial statements based
on our audits. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company
in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission
and the PCAOB.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We conducted our audits in
accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due
to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements,
whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis,
evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles
used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe
that our audits provide a reasonable basis for our opinion.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Tokyo, Japan</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 60%"><span style="font-size: 10pt">February 20, 2023</span></td>
    <td style="border-bottom: black 1.5pt solid; width: 40%"><span style="font-size: 10pt">/s/ KDA Audit Corporation</span></td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td><span style="font-size: 10pt">KDA Audit Corporation</span></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 192; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->78<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b><span style="text-decoration:underline">REPORT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</span></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">To the Board of Directors and Shareholders of<br/>
Magic Software Japan K. K.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Opinion on Internal Control over Financial
Reporting</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have audited Magic Software
Japan K.K.&#8217;s (the &#8220;Company&#8221;) internal control over financial reporting as of December 31, 2022, based on Section 404
of the Sarbanes-Oxley Act (&#8220;SOA&#8221;). In our opinion, the Company maintained, in all material respects, effective internal control
over financial reporting as of December 31, 2022, based on Section 404 of the Sarbanes-Oxley Act (&#8220;SOA&#8221;).</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">

</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We also have audited, in accordance
with the standards of the Public Company Accounting Oversight Board (United States), the statements of financial position of the Company
as of December 31, 2021 and 2022, and the related statements of comprehensive income and cash flows for each of the three years in the
period ended December 31, 2022 and our report dated February 20, 2023 expressed unqualified opinion.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Basis for Opinion</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company&#8217;s management
is responsible for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal
control over financial reporting, included in the accompanying Management&#8217;s Assessment of Internal Control over Financial Reporting.
Our responsibility is to express an opinion on the entity&#8217;s internal control over financial reporting based on our audit. We are
a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with
the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We conducted our audit in
accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained
in all material respects.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our audit of internal control
over financial reporting included obtaining an understanding of internal control over financial reporting, assessing the risk that a
material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed
risk. Our audit also included performing such other procedures as we considered necessary in the circumstances. We believe that our audit
provides a reasonable basis for our opinion.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Definition and Limitations of Internal Control
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">An entity&#8217;s internal
control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the
United States of America. An entity&#8217;s internal control over financial reporting includes those policies and procedures that (1)
pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of
the assets of the entity; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial
statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the entity are being made
only in accordance with authorizations of management and directors of the entity; and (3) provide reasonable assurance regarding prevention
or timely detection of unauthorized acquisition, use, or disposition of the entity&#8217;s assets that could have a material effect on
the financial statements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Because of its inherent limitations,
internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness
to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of
compliance with the policies or procedures may deteriorate.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Tokyo, Japan</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="width: 60%"><span style="font-size: 10pt">February 20, 2023</span></td>
    <td style="width: 40%; border-bottom: black 1.5pt solid"><span style="font-size: 10pt">/s/ KDA Audit Corporation</span></td></tr>
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    <td>&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><div><a id="m_067"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b><span style="text-decoration:underline">S I G N A T U R E S</span></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The registrant hereby certifies
that it meets all of the requirements for filing on Form&#160;20-F and that it has duly caused and authorized the undersigned to sign
this annual report on its behalf.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td>&#160;</td>
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  <tr style="vertical-align: top">
    <td style="width: 60%">&#160;</td>
    <td style="width: 3%">&#160;</td>
    <td style="width: 5%">&#160;</td>
    <td style="width: 32%">&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
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  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td>
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    <td>&#160;</td>
    <td>&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dated: May 11<span style="font-family: Times New Roman, Times, Serif">,
2023</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">107</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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<DOCUMENT>
<TYPE>EX-8.1
<SEQUENCE>2
<FILENAME>f20f2022ex8-1_magicsoft.htm
<DESCRIPTION>LIST OF SUBSIDIARIES OF THE REGISTRANT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin-top: 0; margin-bottom: 0"><B>Exhibit 8.1</B></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>C.</B></FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps"><B>Organizational Structure</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">The following table sets
forth the legal name, location and country or state of incorporation and percentage ownership of our subsidiaries as of December 31, 2022:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: black 1.5pt solid; padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Subsidiary Name</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Country of<BR>
Incorporation</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Ownership<BR>
Percentage</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 73%; padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Magic Software Japan K.K</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 14%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Japan</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Magic Software Enterprises Inc.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Magic Software Enterprises (UK) Ltd (shares held by Magic Software Enterprises Netherlands B.V.)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">United Kingdom</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hermes Logistics Technologies Limited (shares held by Magic Software Enterprises (UK) Ltd)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">United Kingdom</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Magic Software Enterprises Spain Ltd (shares held by Magic Software Enterprises Netherlands B.V.)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Spain</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Coretech Consulting Group, Inc. (shares held by Magic Software Enterprises Inc)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pennsylvania</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Coretech Consulting Group LLC (shares held by Magic Software Enterprises Inc)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fusion Solutions LLC. (shares held by Coretech Consulting Group LLC)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fusion Technical Solutions LLC. (shares held by Fusion Solutions LLC)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">49</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Xsell Resources Inc. (shares held by Coretech Consulting Group LLC)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pennsylvania</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Magic Software Enterprises (Israel) Ltd</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Magic Software Enterprises Netherlands B.V.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Netherlands</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Magic Software Enterprises France (shares held by Magic Software Enterprises Netherlands B.V.)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">France</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Magic Beheer B.V. (shares held by Magic Software Enterprises Netherlands B.V.)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Netherlands</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Magic Benelux B.V. (shares held by Magic Beheer B.V.)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Netherlands</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Magic Software Enterprises GMBH (shares held by Magic Software Enterprises Netherlands B.V.)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Germany</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Magic Software Enterprises India Pvt. Ltd</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">India</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Onyx Magyarorszag Szsoftverhaz (shares held by Magic Software Enterprises Netherlands B.V.)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hungary</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Magix Integration (Proprietary) Ltd</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">South Africa</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">AppBuilder Solutions Ltd</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">United Kingdom</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Complete Business Solutions Ltd</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Datamind Technologies Ltd (shares held by Complete Business Solutions Ltd)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CommIT Technology Solutions Ltd</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">77.8</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CommIT Software Ltd (shares held by Comm-IT Technology Solutions Ltd.)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CommIT Embedded Ltd (shares held by Comm-IT Technology Solutions Ltd.)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">75</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Valinor Ltd. (shares held by Comm-IT Technology Solutions Ltd.)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dario Solutions IT Ltd (shares held by Comm-IT Technology Solutions Ltd.)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Quickode Ltd (shares held by Comm-IT Technology Solutions Ltd.)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Twingo Ltd (shares held by Comm-IT Technology Solutions Ltd.)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">60</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9540 Y.G. Soft I.T Ltd. (shares held by CommIT Software Ltd.)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">60</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pilat Europe Ltd.</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">United Kingdom</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pilat (North America), Inc.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New Jersey</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Roshtov Software Industries Ltd</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">80</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">BridgeQuest Labs, Inc. (shares held by BridgeQuest, Inc.)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">North Carolina</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">BridgeQuest, Inc. (shares held by Magic Software Enterprises Inc.)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">North Carolina</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Allstates Consulting Services LLC (shares held by Magic Software Enterprises Inc.)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F.T.S. - Formula Telecom Solutions Ltd.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FTS Bulgaria Ltd. (FTS Global Ltd.) (shares held by F.T.S. - Formula Telecom Solutions Ltd.)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bulgaria</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Comblack IT Ltd</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">80.1</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes-IT Ltd. (shares held by Comblack IT Ltd)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shavit Software (2009) Ltd. (shares held by Comblack Ltd)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Infinigy (UK) Holdings Limited</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">United Kingdom</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Infinigy (US) Holding Inc (shares held by Infinigy (UK) Holdings Limited)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Georgia</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Infinigy Solutions LLC. (shares held by Infinigy (US) Holding Inc)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Georgia</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Infinigy Engineering LLP (shares held by Infinigy Solutions LLC.).</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Georgia</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Skysoft Solutions Ltd. (shares held by CommIT Embedded Ltd.)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">75</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Futurewave Systems, Inc. (shares held by Fusion Solutions LLC.)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Georgia</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">OnTarget Group, Inc</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">North Carolina</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NetEffects, Inc. (shares held by Coretech Consulting Group LLC)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Missouri</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PowWow Inc.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">California</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">BA Microwaves Ltd.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">56.67</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stockell Information Systems Inc.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Missouri</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mobisoft Ltd.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">73.75</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Magic Hands B.V.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Netherlands</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Knowledge &amp; Solutions Software B.V.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Netherlands</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aptonet, Inc.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Georgia</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Comm-IT USA, Inc.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: black 1.5pt solid; padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Subsidiary Name</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Country of<BR>
Incorporation</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Ownership<BR>
Percentage</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD></TR>

<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt; width: 73%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Comblack Municipal Services Ltd.</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 14%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">70</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shavit Human resource Ltd.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Menarva Ltd.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Enable IT LLC. (shares held by Coretech Consulting Group LLC)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Enable IT Consulting Services Canada Inc. (shares held by Enable IT LLC.)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Canada</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Appush Technologies Ltd (Formerly known as Vidstart Ltd)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">80.1</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Appush Inc. (Shares held by Appush Technologies Ltd)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Goodkind Group, LLC</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New York</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodkind Hospitality, LLC</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intrabases SAS</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">France</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>

<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 73%; padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Roshtov Software Industries Ltd</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">80</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">BridgeQuest Labs, Inc. (shares held by BridgeQuest, Inc.)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">North Carolina</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">BridgeQuest, Inc. (shares held by Magic Software Enterprises Inc.)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">North Carolina</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Allstates Consulting Services LLC (shares held by Magic Software Enterprises Inc.)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F.T.S. - Formula Telecom Solutions Ltd.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FTS Bulgaria Ltd. (FTS Global Ltd.) (shares held by F.T.S. - Formula Telecom Solutions Ltd.)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bulgaria</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Comblack IT Ltd</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">80.1</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes-IT Ltd. (shares held by Comblack IT Ltd)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shavit Software (2009) Ltd. (shares held by Comblack Ltd)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Infinigy (UK) Holdings Limited</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">United Kingdom</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Infinigy (US) Holding Inc (shares held by Infinigy (UK) Holdings Limited)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Georgia</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Infinigy Solutions LLC. (shares held by Infinigy (US) Holding Inc)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Georgia</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Infinigy Engineering LLP (shares held by Infinigy Solutions LLC.).</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Georgia</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Skysoft Solutions Ltd. (shares held by CommIT Embedded Ltd.)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">75</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Futurewave Systems, Inc. (shares held by Fusion Solutions LLC.)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Georgia</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">OnTarget Group, Inc</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">North Carolina</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NetEffects, Inc. (shares held by Coretech Consulting Group LLC)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Missouri</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PowWow Inc.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">California</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">BA Microwaves Ltd.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">56.67</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stockell Information Systems Inc.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Missouri</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mobisoft Ltd.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">73.75</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Magic Hands B.V.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Netherlands</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Knowledge &amp; Solutions Software B.V.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Netherlands</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aptonet, Inc.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Georgia</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Comm-IT USA, Inc.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Comblack Municipal Services Ltd.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">70</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shavit Human resource Ltd.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Menarva Ltd.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Enable IT LLC. (shares held by Coretech Consulting Group LLC)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Enable IT Consulting Services Canada Inc. (shares held by Enable IT LLC.)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Canada</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Appush Technologies Ltd (Formerly known as Vidstart Ltd)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Israel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">80.1</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Appush Inc. (Shares held by Appush Technologies Ltd)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Goodkind Group, LLC</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New York</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodkind Hospitality, LLC</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intrabases SAS</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">France</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  </TABLE>
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<DOCUMENT>
<TYPE>EX-12.1
<SEQUENCE>3
<FILENAME>f20f2022ex12-1_magicsoft.htm
<DESCRIPTION>CERTIFICATION
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in"><B>Exhibit 12.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER<BR>
Pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934, as amended.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">I,</TD><TD STYLE="text-align: justify">Guy Bernstein, certify that:</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">1.</TD><TD STYLE="text-align: justify">I have reviewed this annual report on Form 20-F of Magic Software
Enterprises Ltd.;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">2.</TD><TD STYLE="text-align: justify">Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under
which such statements were made, not misleading with respect to the period covered by this report;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">3.</TD><TD STYLE="text-align: justify">Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects the financial condition, results of operations and cash
flows of the company as of, and for, the periods presented in this report;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">4.</TD><TD STYLE="text-align: justify">The company&rsquo;s other certifying officer and I are responsible
for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13(a)-15(e) and 15d-15(e)) and
internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the company and have:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt; text-align: left">(a)</TD><TD STYLE="text-align: justify">Designed such disclosure controls and procedures, or caused
such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the company,
including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which
this report is being prepared;</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt; text-align: left">(b)</TD><TD STYLE="text-align: justify">Designed such internal control over financial reporting, or
caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding
the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally
accepted accounting principles;</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt; text-align: left">(c)</TD><TD STYLE="text-align: justify">Evaluated the effectiveness of the company&rsquo;s disclosure
controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures,
as of the end of the period covered by this report based on such evaluation; and</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt; text-align: left">(d)</TD><TD STYLE="text-align: justify">Disclosed in this report any change in the company&rsquo;s internal
control over financial reporting that occurred during the period covered by the annual report that has materially affected, or is reasonably
likely to materially affect, the company&rsquo;s internal control over financial reporting; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">5.</TD><TD STYLE="text-align: justify">The company&rsquo;s other certifying officer and I have disclosed,
based on our most recent evaluation of internal control over financial reporting, to the company&rsquo;s auditors and the audit committee
of the company&rsquo;s board of directors (or persons performing the equivalent function):</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt; text-align: left">(a)</TD><TD STYLE="text-align: justify">All significant deficiencies and material weaknesses in the
design or operation of internal control over financial reporting which are reasonably likely to adversely affect the company&rsquo;s
ability to record, process, summarize and report financial information; and</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt; text-align: left">(b)</TD><TD STYLE="text-align: justify">Any fraud, whether or not material, that involves management
or other employees who have a significant role in the company&rsquo;s internal control over financial reporting.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">Date: <FONT STYLE="background-color: white">May
11, </FONT>2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%; border-bottom: black 1.5pt solid; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Guy Bernstein</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Guy Bernstein*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal Executive Officer)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The originally executed copy of this Certification will be maintained at the Company&rsquo;s offices and will be made available for inspection upon request.</FONT></TD></TR>
  </TABLE>

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<DOCUMENT>
<TYPE>EX-12.2
<SEQUENCE>4
<FILENAME>f20f2022ex12-2_magicsoft.htm
<DESCRIPTION>CERTIFICATION
<TEXT>
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<P STYLE="text-align: right; margin-top: 0; margin-bottom: 0"><B>Exhibit 12.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER<BR>
Pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934, as amended.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">I,</TD><TD STYLE="text-align: justify">Asaf Berenstin, certify that:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">1.</TD><TD STYLE="text-align: justify">I have reviewed this annual report on Form 20-F of Magic Software
Enterprises Ltd.;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">2.</TD><TD STYLE="text-align: justify">Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under
which such statements were made, not misleading with respect to the period covered by this report;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">3.</TD><TD STYLE="text-align: justify">Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects the financial condition, results of operations and cash
flows of the company as of, and for, the periods presented in this report;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">4.</TD><TD STYLE="text-align: justify">The company&rsquo;s other certifying officer and I are responsible
for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13(a)-15(e) and 15d-15(e)) and
internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the company and have:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt; text-align: left">(a)</TD><TD STYLE="text-align: justify">Designed such disclosure controls and procedures, or caused
such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the company,
including its consolidated Subsidiaries, is made known to us by others within those entities, particularly during the period in which
this report is being prepared;</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt; text-align: left">(b)</TD><TD STYLE="text-align: justify">Designed such internal control over financial reporting, or
caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding
the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally
accepted accounting principles;</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt; text-align: left">(c)</TD><TD STYLE="text-align: justify">Evaluated the effectiveness of the company&rsquo;s disclosure
controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures,
as of the end of the period covered by this report based on such evaluation; and</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt; text-align: left">(d)</TD><TD STYLE="text-align: justify">Disclosed in this report any change in the company&rsquo;s internal
control over financial reporting that occurred during the period covered by the annual report that has materially affected, or is reasonably
likely to materially affect, the company&rsquo;s internal control over financial reporting; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">5.</TD><TD STYLE="text-align: justify">The company&rsquo;s other certifying officer and I have disclosed,
based on our most recent evaluation of internal control over financial reporting, to the company&rsquo;s auditors and the audit committee
of the company&rsquo;s board of directors (or persons performing the equivalent function):</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt; text-align: left">(a)</TD><TD STYLE="text-align: justify">All significant deficiencies and material weaknesses in the
design or operation of internal control over financial reporting which are reasonably likely to adversely affect the company&rsquo;s
ability to record, process, summarize and report financial information; and</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt; text-align: left">(b)</TD><TD STYLE="text-align: justify">Any fraud, whether or not material, that involves management
or other employees who have a significant role in the company&rsquo;s internal control over financial reporting.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">Date: <FONT STYLE="background-color: white">May
11, </FONT>2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; width: 40%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Asaf Berenstin</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Asaf Berenstin*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Financial Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(</B>Principal Financial Officer)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The originally executed copy of this Certification will be maintained at the Company&rsquo;s offices and will be made available for inspection upon request.</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in"></P>


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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13.1
<SEQUENCE>5
<FILENAME>f20f2022ex13-1_magicsoft.htm
<DESCRIPTION>CERTIFICATION
<TEXT>
<HTML>
<HEAD>
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</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in"><B>Exhibit 13.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION PURSUANT TO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>18 U.S.C. SECTION 1350</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AS ADOPTED PURSUANT TO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with the Annual
Report of Magic Software Enterprises Ltd. (the &ldquo;Company&rdquo;) on Form 20-F for the period ending December 31, 2022 as filed with
the Securities and Exchange Commission on the date hereof (the &ldquo;Report&rdquo;), I, Guy Bernstein, Chief Executive Officer of the
Company, certify, pursuant to 18 U.S.C. &sect; 1350, as adopted pursuant to &sect; 906 of the Sarbanes-Oxley Act of 2002, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; width: 40%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Guy Bernstein</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Guy Bernstein*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal Executive Officer)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left"><FONT STYLE="background-color: white">May
11, </FONT>2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The originally executed copy of this Certification will be maintained at the Company&rsquo;s offices and will be made available for inspection upon request.</FONT></TD></TR>
  </TABLE>



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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13.2
<SEQUENCE>6
<FILENAME>f20f2022ex13-2_magicsoft.htm
<DESCRIPTION>CERTIFICATION
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 13.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CERTIFICATION PURSUANT TO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>18 U.S.C. SECTION 1350</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>AS ADOPTED PURSUANT TO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with the Annual
Report of Magic Software Enterprises Ltd. (the &ldquo;Company&rdquo;) on Form 20-F for the period ending December 31, 2022 as filed with
the Securities and Exchange Commission on the date hereof (the &ldquo;Report&rdquo;), I, Asaf Berenstin, Chief Financial Officer of the
Company, certify, pursuant to 18 U.S.C. &sect; 1350, as adopted pursuant to &sect; 906 of the Sarbanes-Oxley Act of 2002, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%; border-bottom: black 1.5pt solid; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Asaf Berenstin</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Asaf Berenstin*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Financial Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal Financial Officer)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left"><FONT STYLE="background-color: white">May 11, </FONT>2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The originally executed copy of this Certification will be maintained at the Company&rsquo;s offices and will be made available for inspection upon request.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-15.1
<SEQUENCE>7
<FILENAME>f20f2022ex15-1_magicsoft.htm
<DESCRIPTION>CONSENT OF KOST FORER GABBAY & KASIERER, A MEMBER OF ERNST & YOUNG GLOBAL
<TEXT>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit
15.1</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CONSENT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
consent to the incorporation by reference in the following Registration Statements:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Registration
                                            Statement (Form S-8 No. 333-149553) pertaining to the 2007 Incentive Compensation Plan of
                                            Magic Software Enterprises Ltd.,</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Registration
                                            Statement (Form S-8 No. 333-132221) pertaining to the 2000 Employee Stock Option&nbsp;Plan
                                            of Magic Software Enterprises Ltd.,</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Registration
Statement (Form S-8 No. 333-113552) pertaining to the 2000 Employee Stock Option&nbsp;Plan of Magic Software Enterprises Ltd.,</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">of
our reports dated May 11, 2023, with respect to the consolidated financial statements of Magic Software Enterprises Ltd. and the effectiveness
of internal control over financial reporting of Magic Software Enterprises Ltd. included in this Annual Report (Form 20-F) of Magic Software
Ltd. for the year ended December 31, 2022.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 60%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tel Aviv, Israel</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 40%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">/s/Kost Forer Gabbay and Kasierer</P>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">May 11, 2023</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">KOST FORER GABBAY and KASIERER</P></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A member
    of Ernst &amp; Young Global</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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<TYPE>EX-15.2
<SEQUENCE>8
<FILENAME>f20f2022ex15-2_magicsoft.htm
<DESCRIPTION>CONSENT OF KDA AUDIT CORPORATION (RELATING TO MAGIC SOFTWARE JAPAN K.K.
<TEXT>
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<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 15.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF INDEPENDENT AUDITORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Magic Software Japan K.K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We consent to the incorporation
by reference in the Registration Statements on Form S-8 (File Nos. 333-113552, 333-132221 and 333-149553) of Magic Software Enterprises
Ltd., of our report dated February 20, 2023, with respect to the financial statements of Magic Software Japan K.K. as of December 31,
2022, which report appears in the Annual Report on Form 20-F of Magic Software Enterprises Ltd. for the year ended December 31, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 40%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ KDA Audit Corporation</FONT></TD>
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  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">KDA Audit Corporation</FONT></TD>
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  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Registered Auditors</FONT></TD>
    </TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tokyo, Japan</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">May 9, </FONT>2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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      <link:roleType roleURI="http://www.magicsoftware.com/role/PropertyPlantsandEquipmentNet" id="mgic_r_PropertyPlantsandEquipmentNet">
        <link:definition>014 - Disclosure - Property , Plants and Equipment , Net</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/IntangibleAssetsNet" id="mgic_r_IntangibleAssetsNet">
        <link:definition>015 - Disclosure - Intangible Assets, Net</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/Goodwill" id="mgic_r_Goodwill">
        <link:definition>016 - Disclosure - Goodwill</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ShortTermDebts" id="mgic_r_ShortTermDebts">
        <link:definition>017 - Disclosure - Short Term Debts</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/OtherAccountsPayable" id="mgic_r_OtherAccountsPayable">
        <link:definition>018 - Disclosure - Other Accounts Payable</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/LongTermDebts" id="mgic_r_LongTermDebts">
        <link:definition>019 - Disclosure - Long Term Debts</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/RelatedPartiesTransactions" id="mgic_r_RelatedPartiesTransactions">
        <link:definition>020 - Disclosure - Related Parties Transactions</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/Leases" id="mgic_r_Leases">
        <link:definition>021 - Disclosure - Leases</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ShareBasedPayments" id="mgic_r_ShareBasedPayments">
        <link:definition>022 - Disclosure - Share Based Payments</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/EmployeeBenefitLiabilities" id="mgic_r_EmployeeBenefitLiabilities">
        <link:definition>023 - Disclosure - Employee Benefit Liabilities</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/CommitmentsandContingencies" id="mgic_r_CommitmentsandContingencies">
        <link:definition>024 - Disclosure - Commitments and Contingencies</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/Equity" id="mgic_r_Equity">
        <link:definition>025 - Disclosure - Equity</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/IncomeTax" id="mgic_r_IncomeTax">
        <link:definition>026 - Disclosure - Income Tax</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/RevenueRecognition" id="mgic_r_RevenueRecognition">
        <link:definition>027 - Disclosure - Revenue Recognition</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/SelectedStatementsofIncomeData" id="mgic_r_SelectedStatementsofIncomeData">
        <link:definition>028 - Disclosure - Selected Statements of Income Data</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/Operatingsegments" id="mgic_r_Operatingsegments">
        <link:definition>029 - Disclosure - Operating segments</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/TransitiontoIFRS" id="mgic_r_TransitiontoIFRS">
        <link:definition>030 - Disclosure - Transition to IFRS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/SubsequentEvents" id="mgic_r_SubsequentEvents">
        <link:definition>031 - Disclosure - Subsequent Events</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/AccountingPoliciesByPolicy" id="mgic_r_AccountingPoliciesByPolicy">
        <link:definition>032 - Disclosure - Accounting Policies, by Policy (Policies)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/SignificantAccountingPoliciesTables" id="mgic_r_SignificantAccountingPoliciesTables">
        <link:definition>033 - Disclosure - Significant Accounting Policies (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/BusinessCombinationsTables" id="mgic_r_BusinessCombinationsTables">
        <link:definition>034 - Disclosure - Business Combinations (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/CashandCashEquivalentsTables" id="mgic_r_CashandCashEquivalentsTables">
        <link:definition>035 - Disclosure - Cash and Cash Equivalents (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/OtherAccountsReceivavableAndPrepaidExpesnesTables" id="mgic_r_OtherAccountsReceivavableAndPrepaidExpesnesTables">
        <link:definition>036 - Disclosure - Other Accounts Receivavable And Prepaid Expesnes (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/FairValueMeasurementTables" id="mgic_r_FairValueMeasurementTables">
        <link:definition>037 - Disclosure - Fair Value Measurement (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/PropertyPlantsandEquipmentNetTables" id="mgic_r_PropertyPlantsandEquipmentNetTables">
        <link:definition>038 - Disclosure - Property , Plants and Equipment , Net (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/IntangibleAssetsNetTables" id="mgic_r_IntangibleAssetsNetTables">
        <link:definition>039 - Disclosure - Intangible Assets, Net (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/GoodwillTables" id="mgic_r_GoodwillTables">
        <link:definition>040 - Disclosure - Goodwill (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ShortTermDebtsTables" id="mgic_r_ShortTermDebtsTables">
        <link:definition>041 - Disclosure - Short Term Debts (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/OtherAccountsPayableTables" id="mgic_r_OtherAccountsPayableTables">
        <link:definition>042 - Disclosure - Other Accounts Payable (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/LongTermDebtsTables" id="mgic_r_LongTermDebtsTables">
        <link:definition>043 - Disclosure - Long Term Debts (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/LeasesTables" id="mgic_r_LeasesTables">
        <link:definition>044 - Disclosure - Leases (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ShareBasedPaymentsTables" id="mgic_r_ShareBasedPaymentsTables">
        <link:definition>045 - Disclosure - Share Based Payments (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/EmployeeBenefitLiabilitiesTables" id="mgic_r_EmployeeBenefitLiabilitiesTables">
        <link:definition>046 - Disclosure - Employee Benefit Liabilities (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/EquityTables" id="mgic_r_EquityTables">
        <link:definition>047 - Disclosure - Equity (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/IncomeTaxTables" id="mgic_r_IncomeTaxTables">
        <link:definition>048 - Disclosure - Income Tax (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/RevenueRecognitionTables" id="mgic_r_RevenueRecognitionTables">
        <link:definition>049 - Disclosure - Revenue Recognition (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/SelectedStatementsofIncomeDataTables" id="mgic_r_SelectedStatementsofIncomeDataTables">
        <link:definition>050 - Disclosure - Selected Statements of Income Data (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/OperatingsegmentsTables" id="mgic_r_OperatingsegmentsTables">
        <link:definition>051 - Disclosure - Operating segments (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/TransitiontoIFRSTables" id="mgic_r_TransitiontoIFRSTables">
        <link:definition>052 - Disclosure - Transition to IFRS (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/SignificantAccountingPoliciesDetails" id="mgic_r_SignificantAccountingPoliciesDetails">
        <link:definition>053 - Disclosure - Significant Accounting Policies (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofquantitativeinformationaboutrightofuseassetsTable" id="mgic_r_ScheduleofquantitativeinformationaboutrightofuseassetsTable">
        <link:definition>054 - Disclosure - Significant Accounting Policies (Details) - Schedule of quantitative information about right of use assets</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofannualratesofdepreciationTable" id="mgic_r_ScheduleofannualratesofdepreciationTable">
        <link:definition>055 - Disclosure - Significant Accounting Policies (Details) - Schedule of annual rates of depreciation</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofintangibleassetswithindefiniteusefullifeTable" id="mgic_r_ScheduleofintangibleassetswithindefiniteusefullifeTable">
        <link:definition>056 - Disclosure - Significant Accounting Policies (Details) - Schedule of intangible assets with indefinite useful life</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/BusinessCombinationsDetails" id="mgic_r_BusinessCombinationsDetails">
        <link:definition>057 - Disclosure - Business Combinations (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesTable" id="mgic_r_ScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesTable">
        <link:definition>058 - Disclosure - Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesTable_Parentheticals" id="mgic_r_ScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesTable_Parentheticals">
        <link:definition>059 - Disclosure - Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities (Parentheticals)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesTable0" id="mgic_r_ScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesTable0">
        <link:definition>060 - Disclosure - Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesTable_Parentheticals0" id="mgic_r_ScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesTable_Parentheticals0">
        <link:definition>061 - Disclosure - Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities (Parentheticals)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesTable1" id="mgic_r_ScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesTable1">
        <link:definition>062 - Disclosure - Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesTable_Parentheticals1" id="mgic_r_ScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesTable_Parentheticals1">
        <link:definition>063 - Disclosure - Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities (Parentheticals)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesTable2" id="mgic_r_ScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesTable2">
        <link:definition>064 - Disclosure - Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesTable3" id="mgic_r_ScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesTable3">
        <link:definition>065 - Disclosure - Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesTable_Parentheticals2" id="mgic_r_ScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesTable_Parentheticals2">
        <link:definition>066 - Disclosure - Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities (Parentheticals)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesTable4" id="mgic_r_ScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesTable4">
        <link:definition>067 - Disclosure - Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesTable_Parentheticals3" id="mgic_r_ScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesTable_Parentheticals3">
        <link:definition>068 - Disclosure - Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities (Parentheticals)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>069 - Disclosure - Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesTable_Parentheticals4" id="mgic_r_ScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesTable_Parentheticals4">
        <link:definition>070 - Disclosure - Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities (Parentheticals)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofcashandcashequivalentsTable" id="mgic_r_ScheduleofcashandcashequivalentsTable">
        <link:definition>071 - Disclosure - Cash and Cash Equivalents (Details) - Schedule of cash and cash equivalents</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>072 - Disclosure - Other Accounts Receivavable And Prepaid Expesnes (Details) - Schedule of other accounts receivable and prepaid expenses</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleoffinancialassetsandliabilitiesmeasuredatfairvalueonarecurringbasisTable" id="mgic_r_ScheduleoffinancialassetsandliabilitiesmeasuredatfairvalueonarecurringbasisTable">
        <link:definition>073 - Disclosure - Fair Value Measurement (Details) - Schedule of financial assets and liabilities measured at fair value on a recurring basis</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofliabilitiesinrespectofthebusinesscombinationsTable" id="mgic_r_ScheduleofliabilitiesinrespectofthebusinesscombinationsTable">
        <link:definition>074 - Disclosure - Fair Value Measurement (Details) - Schedule of liabilities in respect of the business combinations</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleoffinancialassetsandliabilitiesintheconsolidatedstatementsoffinancialpositionTable" id="mgic_r_ScheduleoffinancialassetsandliabilitiesintheconsolidatedstatementsoffinancialpositionTable">
        <link:definition>075 - Disclosure - Fair Value Measurement (Details) - Schedule of financial assets and liabilities in the consolidated statements of financial position</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofthecompositionandmovementTable" id="mgic_r_ScheduleofthecompositionandmovementTable">
        <link:definition>076 - Disclosure - Property , Plants and Equipment , Net (Details) - Schedule of the composition and movement</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofintangibleassetsofcompositionandmovementTable" id="mgic_r_ScheduleofintangibleassetsofcompositionandmovementTable">
        <link:definition>077 - Disclosure - Intangible Assets, Net (Details) - Schedule of intangible assets of composition and movement</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofamortizationexpensesrelatedtointangibleassetsTable" id="mgic_r_ScheduleofamortizationexpensesrelatedtointangibleassetsTable">
        <link:definition>078 - Disclosure - Intangible Assets, Net (Details) - Schedule of amortization expenses related to intangible assets</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofintangibleassetscompositionbyreportablesegmentTable" id="mgic_r_ScheduleofintangibleassetscompositionbyreportablesegmentTable">
        <link:definition>079 - Disclosure - Intangible Assets, Net (Details) - Schedule of intangible assets composition by reportable segment</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofestimatedfutureamortizationofintangibleassetsTable" id="mgic_r_ScheduleofestimatedfutureamortizationofintangibleassetsTable">
        <link:definition>080 - Disclosure - Intangible Assets, Net (Details) - Schedule of estimated future amortization of intangible assets</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofcarryingamountofgoodwillTable" id="mgic_r_ScheduleofcarryingamountofgoodwillTable">
        <link:definition>081 - Disclosure - Goodwill (Details) - Schedule of carrying amount of goodwill</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofassessmentforgoodwillimpairmentTable" id="mgic_r_ScheduleofassessmentforgoodwillimpairmentTable">
        <link:definition>082 - Disclosure - Goodwill (Details) - Schedule of assessment for goodwill impairment</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofshorttermdebtsTable" id="mgic_r_ScheduleofshorttermdebtsTable">
        <link:definition>083 - Disclosure - Short Term Debts (Details) - Schedule of short term debts</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofotheraccountspayableTable" id="mgic_r_ScheduleofotheraccountspayableTable">
        <link:definition>084 - Disclosure - Other Accounts Payable (Details) - Schedule of other accounts payable</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/LongTermDebtsDetails" id="mgic_r_LongTermDebtsDetails">
        <link:definition>085 - Disclosure - Long Term Debts (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleoflongtermliabilitiesTable" id="mgic_r_ScheduleoflongtermliabilitiesTable">
        <link:definition>086 - Disclosure - Long Term Debts (Details) - Schedule of long term liabilities</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofmaturitydatesTable" id="mgic_r_ScheduleofmaturitydatesTable">
        <link:definition>087 - Disclosure - Long Term Debts (Details) - Schedule of maturity dates</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/RelatedPartiesTransactionsDetails" id="mgic_r_RelatedPartiesTransactionsDetails">
        <link:definition>088 - Disclosure - Related Parties Transactions (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/LeasesDetails" id="mgic_r_LeasesDetails">
        <link:definition>089 - Disclosure - Leases (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofmaturityanalysisofundiscountedfutureleasepaymentsforleaseliabilitiesTable" id="mgic_r_ScheduleofmaturityanalysisofundiscountedfutureleasepaymentsforleaseliabilitiesTable">
        <link:definition>090 - Disclosure - Leases (Details) - Schedule of maturity analysis of undiscounted future lease payments for lease liabilities</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofleaseinformationTable" id="mgic_r_ScheduleofleaseinformationTable">
        <link:definition>091 - Disclosure - Leases (Details) - Schedule of lease information</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofweightedaverageremainingleasetermsTable" id="mgic_r_ScheduleofweightedaverageremainingleasetermsTable">
        <link:definition>092 - Disclosure - Leases (Details) - Schedule of weighted average remaining lease terms</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofrightofuseassetsTable" id="mgic_r_ScheduleofrightofuseassetsTable">
        <link:definition>093 - Disclosure - Leases (Details) - Schedule of right-of-use assets</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ShareBasedPaymentsDetails" id="mgic_r_ShareBasedPaymentsDetails">
        <link:definition>094 - Disclosure - Share Based Payments (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleoffairvalueoftheoptionsgrantedusingtheBinomialmodelTable" id="mgic_r_ScheduleoffairvalueoftheoptionsgrantedusingtheBinomialmodelTable">
        <link:definition>095 - Disclosure - Share Based Payments (Details) - Schedule of fair value of the options granted using the Binomial model</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofemployeeoptionactivityTable" id="mgic_r_ScheduleofemployeeoptionactivityTable">
        <link:definition>096 - Disclosure - Share Based Payments (Details) - Schedule of employee option activity</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofoptionsoutstandingTable" id="mgic_r_ScheduleofoptionsoutstandingTable">
        <link:definition>097 - Disclosure - Share Based Payments (Details) - Schedule of options outstanding</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofsharebasedpaymentexpenserelatedtoemployeestockoptionTable" id="mgic_r_ScheduleofsharebasedpaymentexpenserelatedtoemployeestockoptionTable">
        <link:definition>098 - Disclosure - Share Based Payments (Details) - Schedule of share-based payment expense related to employee stock option</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/EmployeeBenefitLiabilitiesDetails" id="mgic_r_EmployeeBenefitLiabilitiesDetails">
        <link:definition>099 - Disclosure - Employee Benefit Liabilities (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofdefinedbenefitplansTable" id="mgic_r_ScheduleofdefinedbenefitplansTable">
        <link:definition>100 - Disclosure - Employee Benefit Liabilities (Details) - Schedule of defined benefit plans</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/CommitmentsandContingenciesDetails" id="mgic_r_CommitmentsandContingenciesDetails">
        <link:definition>101 - Disclosure - Commitments and Contingencies (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/EquityDetails" id="mgic_r_EquityDetails">
        <link:definition>102 - Disclosure - Equity (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofaccumulatedothercomprehensiveincomelossTable" id="mgic_r_ScheduleofaccumulatedothercomprehensiveincomelossTable">
        <link:definition>103 - Disclosure - Equity (Details) - Schedule of accumulated other comprehensive income (loss)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
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        <link:definition>104 - Disclosure - Income Tax (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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        <link:definition>105 - Disclosure - Income Tax (Details) - Schedule of presentation in the consolidated statements of financial position</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
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        <link:definition>106 - Disclosure - Income Tax (Details) - Schedule of composition of deferred taxes</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofincometaxTable" id="mgic_r_ScheduleofincometaxTable">
        <link:definition>107 - Disclosure - Income Tax (Details) - Schedule of income tax</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
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        <link:definition>108 - Disclosure - Income Tax (Details) - Schedule of theoretical tax expense</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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        <link:definition>109 - Disclosure - Revenue Recognition (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofdeferredrevenuesfromcontractswithcustomersTable" id="mgic_r_ScheduleofdeferredrevenuesfromcontractswithcustomersTable">
        <link:definition>110 - Disclosure - Revenue Recognition (Details) - Schedule of deferred revenues from contracts with customers</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofdeferredrevenuesfromcontractswithcustomersTable_Parentheticals" id="mgic_r_ScheduleofdeferredrevenuesfromcontractswithcustomersTable_Parentheticals">
        <link:definition>111 - Disclosure - Revenue Recognition (Details) - Schedule of deferred revenues from contracts with customers (Parentheticals)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofpastduebutnotimpairedtradereceivablesTable" id="mgic_r_ScheduleofpastduebutnotimpairedtradereceivablesTable">
        <link:definition>112 - Disclosure - Revenue Recognition (Details) - Schedule of past due but not impaired trade receivables</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofrevenuebytimingofrevenuerecognitionTable" id="mgic_r_ScheduleofrevenuebytimingofrevenuerecognitionTable">
        <link:definition>113 - Disclosure - Revenue Recognition (Details) - Schedule of revenue by timing of revenue recognition</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
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        <link:definition>114 - Disclosure - Selected Statements of Income Data (Details) - Schedule of research and development costs, net</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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        <link:definition>115 - Disclosure - Selected Statements of Income Data (Details) - Schedule of selling and marketing expenses</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
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        <link:definition>116 - Disclosure - Selected Statements of Income Data (Details) - Schedule of general and administrative expenses</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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        <link:definition>117 - Disclosure - Selected Statements of Income Data (Details) - Schedule of financial income and expenses</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
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        <link:definition>118 - Disclosure - Selected Statements of Income Data (Details) - Schedule of computation of basic and diluted net earnings per share</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/OperatingsegmentsDetails" id="mgic_r_OperatingsegmentsDetails">
        <link:definition>119 - Disclosure - Operating segments (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofreportedsegmentresultsofoperationTable" id="mgic_r_ScheduleofreportedsegmentresultsofoperationTable">
        <link:definition>120 - Disclosure - Operating segments (Details) - Schedule of reported segment results of operation</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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        <link:definition>121 - Disclosure - Operating segments (Details) - Schedule of long-lived assets classified according to geographical destination</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleoflonglivedassetsTable" id="mgic_r_ScheduleoflonglivedassetsTable">
        <link:definition>122 - Disclosure - Operating segments (Details) - Schedule of long-lived assets</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
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        <link:definition>123 - Disclosure - Transition to IFRS (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.magicsoftware.com/role/ScheduleofreconciliationofstatementsoffinancialpositionTable" id="mgic_r_ScheduleofreconciliationofstatementsoffinancialpositionTable">
        <link:definition>124 - Disclosure - Transition to IFRS (Details) - Schedule of reconciliation of statements of financial position</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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  <xs:element name="LeasesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_LeasesLineItems"/>
  <xs:element name="ShareBasedPaymentsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_ShareBasedPaymentsTable"/>
  <xs:element name="ShareBasedPaymentsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ShareBasedPaymentsLineItems"/>
  <xs:element name="EmployeeBenefitLiabilitiesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_EmployeeBenefitLiabilitiesTable"/>
  <xs:element name="EmployeeBenefitLiabilitiesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_EmployeeBenefitLiabilitiesLineItems"/>
  <xs:element name="EquityTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_EquityTable"/>
  <xs:element name="EquityLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_EquityLineItems"/>
  <xs:element name="SelectedStatementsofIncomeDataTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_SelectedStatementsofIncomeDataTable"/>
  <xs:element name="SelectedStatementsofIncomeDataLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_SelectedStatementsofIncomeDataLineItems"/>
  <xs:element name="OperatingsegmentsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_OperatingsegmentsTable"/>
  <xs:element name="OperatingsegmentsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_OperatingsegmentsLineItems"/>
  <xs:element name="DisclosureOfTransitionToIFRSTextBlock" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_DisclosureOfTransitionToIFRSTextBlock"/>
  <xs:element name="TransitiontoIFRSTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_TransitiontoIFRSTable"/>
  <xs:element name="TransitiontoIFRSLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_TransitiontoIFRSLineItems"/>
  <xs:element name="SubsequentEventsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_SubsequentEventsTable"/>
  <xs:element name="SubsequentEventsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_SubsequentEventsLineItems"/>
  <xs:element name="DescriptionOfUseOfEstimatesJudgmentAndAssumptionTextBlock" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_DescriptionOfUseOfEstimatesJudgmentAndAssumptionTextBlock"/>
  <xs:element name="DescriptionOfConsolidatedFinancialStatementTextBlock" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_DescriptionOfConsolidatedFinancialStatementTextBlock"/>
  <xs:element name="DescriptionOfShortTermBankDepositsTextBlock" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_DescriptionOfShortTermBankDepositsTextBlock"/>
  <xs:element name="DescriptionOfAdvertisingExpensesTextBlock" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_DescriptionOfAdvertisingExpensesTextBlock"/>
  <xs:element name="DescriptionOfConcentrationOfCreditRiskTextBlock" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_DescriptionOfConcentrationOfCreditRiskTextBlock"/>
  <xs:element name="DescriptionOfReclassificationOfPriorYearsPresentation" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_DescriptionOfReclassificationOfPriorYearsPresentation"/>
  <xs:element name="ScheduleOfAnnualRatesOfDepreciationTextBlock" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ScheduleOfAnnualRatesOfDepreciationTextBlock"/>
  <xs:element name="SignificantAccountingPoliciesTablesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_SignificantAccountingPoliciesTablesTable"/>
  <xs:element name="SignificantAccountingPoliciesTablesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_SignificantAccountingPoliciesTablesLineItems"/>
  <xs:element name="DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock"/>
  <xs:element name="BusinessCombinationsTablesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_BusinessCombinationsTablesTable"/>
  <xs:element name="BusinessCombinationsTablesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_BusinessCombinationsTablesLineItems"/>
  <xs:element name="CashandCashEquivalentsTablesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_CashandCashEquivalentsTablesTable"/>
  <xs:element name="CashandCashEquivalentsTablesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_CashandCashEquivalentsTablesLineItems"/>
  <xs:element name="DisclosureOfAOtherAccountsReceivableAndPrepaidExpensesTableTexBlock" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_DisclosureOfAOtherAccountsReceivableAndPrepaidExpensesTableTexBlock"/>
  <xs:element name="OtherAccountsReceivavableAndPrepaidExpesnesTablesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_OtherAccountsReceivavableAndPrepaidExpesnesTablesTable"/>
  <xs:element name="OtherAccountsReceivavableAndPrepaidExpesnesTablesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_OtherAccountsReceivavableAndPrepaidExpesnesTablesLineItems"/>
  <xs:element name="ScheduleOfFinancialAssetsAndLiabilitiesMeasuredAtFairValueOnARecurringBasisTableTextBlock" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ScheduleOfFinancialAssetsAndLiabilitiesMeasuredAtFairValueOnARecurringBasisTableTextBlock"/>
  <xs:element name="ScheduleOfLiabilitiesInRespectOfTheBusinessCombinationsTableTextBlock" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ScheduleOfLiabilitiesInRespectOfTheBusinessCombinationsTableTextBlock"/>
  <xs:element name="FairValueMeasurementTablesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_FairValueMeasurementTablesTable"/>
  <xs:element name="FairValueMeasurementTablesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_FairValueMeasurementTablesLineItems"/>
  <xs:element name="PropertyPlantsandEquipmentNetTablesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_PropertyPlantsandEquipmentNetTablesTable"/>
  <xs:element name="PropertyPlantsandEquipmentNetTablesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_PropertyPlantsandEquipmentNetTablesLineItems"/>
  <xs:element name="DisclosureOfIntangibleAssetsByReportableSegmentExplanatory" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_DisclosureOfIntangibleAssetsByReportableSegmentExplanatory"/>
  <xs:element name="IntangibleAssetsNetTablesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_IntangibleAssetsNetTablesTable"/>
  <xs:element name="IntangibleAssetsNetTablesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_IntangibleAssetsNetTablesLineItems"/>
  <xs:element name="GoodwillTablesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_GoodwillTablesTable"/>
  <xs:element name="GoodwillTablesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_GoodwillTablesLineItems"/>
  <xs:element name="ScheduleOfShortTermDebtsExplanatory" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ScheduleOfShortTermDebtsExplanatory"/>
  <xs:element name="ShortTermDebtsTablesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_ShortTermDebtsTablesTable"/>
  <xs:element name="ShortTermDebtsTablesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ShortTermDebtsTablesLineItems"/>
  <xs:element name="ScheduleOfLongTermLiabilitiesTableTextBlock" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ScheduleOfLongTermLiabilitiesTableTextBlock"/>
  <xs:element name="ScheduleOfMaturityDatesTableTextBlock" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ScheduleOfMaturityDatesTableTextBlock"/>
  <xs:element name="ScheduleOfLeaseInformationExplanatory" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ScheduleOfLeaseInformationExplanatory"/>
  <xs:element name="ScheduleOfWeightedAverageRemainingLeaseTermsExplanatory" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ScheduleOfWeightedAverageRemainingLeaseTermsExplanatory"/>
  <xs:element name="ScheduleOfRightofuseAssetsExplanatory" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ScheduleOfRightofuseAssetsExplanatory"/>
  <xs:element name="LeasesTablesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_LeasesTablesTable"/>
  <xs:element name="LeasesTablesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_LeasesTablesLineItems"/>
  <xs:element name="ShareBasedPaymentsTablesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_ShareBasedPaymentsTablesTable"/>
  <xs:element name="ShareBasedPaymentsTablesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ShareBasedPaymentsTablesLineItems"/>
  <xs:element name="EmployeeBenefitLiabilitiesTablesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_EmployeeBenefitLiabilitiesTablesTable"/>
  <xs:element name="EmployeeBenefitLiabilitiesTablesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_EmployeeBenefitLiabilitiesTablesLineItems"/>
  <xs:element name="ScheduleOfAccumulatedOtherComprehensiveIncomeLossExplanatory" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ScheduleOfAccumulatedOtherComprehensiveIncomeLossExplanatory"/>
  <xs:element name="EquityTablesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_EquityTablesTable"/>
  <xs:element name="EquityTablesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_EquityTablesLineItems"/>
  <xs:element name="DisclosureOfCompositionOfDeferredTaxesTableTextBlock" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_DisclosureOfCompositionOfDeferredTaxesTableTextBlock"/>
  <xs:element name="DisclosureOfIncomeTaxTableTextBlock" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_DisclosureOfIncomeTaxTableTextBlock"/>
  <xs:element name="DisclosureOfTheoreticalTaxExpenseTableTextBlock" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_DisclosureOfTheoreticalTaxExpenseTableTextBlock"/>
  <xs:element name="ScheduleOfDeferredRevenuesFromContractsWithCustomersTableTextBlock" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ScheduleOfDeferredRevenuesFromContractsWithCustomersTableTextBlock"/>
  <xs:element name="ResearchAndDevelopmentCostsNetTableTextBlock" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ResearchAndDevelopmentCostsNetTableTextBlock"/>
  <xs:element name="ScheduleOfSellingAndMarketingExpensesTableTextBlock" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ScheduleOfSellingAndMarketingExpensesTableTextBlock"/>
  <xs:element name="SelectedStatementsofIncomeDataTablesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_SelectedStatementsofIncomeDataTablesTable"/>
  <xs:element name="SelectedStatementsofIncomeDataTablesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_SelectedStatementsofIncomeDataTablesLineItems"/>
  <xs:element name="DisclosureOfResultsOfOperationsAndProspectsExplanatory" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_DisclosureOfResultsOfOperationsAndProspectsExplanatory"/>
  <xs:element name="ScheduleOfRevenuesClassifiedToGeographicalDestinationExplanatory" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ScheduleOfRevenuesClassifiedToGeographicalDestinationExplanatory"/>
  <xs:element name="ScheduleOfLonglivedAssetsExplanatory" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ScheduleOfLonglivedAssetsExplanatory"/>
  <xs:element name="OperatingsegmentsTablesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_OperatingsegmentsTablesTable"/>
  <xs:element name="OperatingsegmentsTablesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_OperatingsegmentsTablesLineItems"/>
  <xs:element name="ScheduleOfEquityAttributableShareholdersTableTextBlock" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ScheduleOfEquityAttributableShareholdersTableTextBlock"/>
  <xs:element name="SignificantAccountingPoliciesDetailsScheduleofquantitativeinformationaboutrightofuseassetsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_SignificantAccountingPoliciesDetailsScheduleofquantitativeinformationaboutrightofuseassetsTable"/>
  <xs:element name="SignificantAccountingPoliciesDetailsScheduleofquantitativeinformationaboutrightofuseassetsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_SignificantAccountingPoliciesDetailsScheduleofquantitativeinformationaboutrightofuseassetsLineItems"/>
  <xs:element name="RightUseOfAsset" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_RightUseOfAsset"/>
  <xs:element name="SignificantAccountingPoliciesDetailsScheduleofannualratesofdepreciationTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_SignificantAccountingPoliciesDetailsScheduleofannualratesofdepreciationTable"/>
  <xs:element name="SignificantAccountingPoliciesDetailsScheduleofannualratesofdepreciationLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_SignificantAccountingPoliciesDetailsScheduleofannualratesofdepreciationLineItems"/>
  <xs:element name="EstimatedUsefulLifeOfAsset" type="xbrli:stringItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_EstimatedUsefulLifeOfAsset"/>
  <xs:element name="SignificantAccountingPoliciesDetailsScheduleofintangibleassetswithindefiniteusefullifeTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_SignificantAccountingPoliciesDetailsScheduleofintangibleassetswithindefiniteusefullifeTable"/>
  <xs:element name="SignificantAccountingPoliciesDetailsScheduleofintangibleassetswithindefiniteusefullifeLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_SignificantAccountingPoliciesDetailsScheduleofintangibleassetswithindefiniteusefullifeLineItems"/>
  <xs:element name="BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesTable"/>
  <xs:element name="BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesLineItems"/>
  <xs:element name="NetLiabilitiesExcludingCashAcquired" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_NetLiabilitiesExcludingCashAcquired"/>
  <xs:element name="IntangibleAssetsNetOfDeferredTaxLiabilities" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities"/>
  <xs:element name="BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesParentheticalsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesParentheticalsTable"/>
  <xs:element name="BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesParentheticalsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesParentheticalsLineItems"/>
  <xs:element name="NetLiabilitiesExcludingOfCashAcquired" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_NetLiabilitiesExcludingOfCashAcquired"/>
  <xs:element name="NetAssetsExcludingOfCashAcquired" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_NetAssetsExcludingOfCashAcquired"/>
  <xs:element name="CustomerRelationshipsNetOfDeferredTaxLiabilities" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_CustomerRelationshipsNetOfDeferredTaxLiabilities"/>
  <xs:element name="CurrentAssetsRecognisedAsOfAcquisition" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_CurrentAssetsRecognisedAsOfAcquisition"/>
  <xs:element name="NetLiabilitiesExcludeOfCashAcquired" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="mgic_NetLiabilitiesExcludeOfCashAcquired"/>
  <xs:element name="CustomerRelationshipsNetOfDeferredTaxLiabilitys" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_CustomerRelationshipsNetOfDeferredTaxLiabilitys"/>
  <xs:element name="TotalAssetsAcquired" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_TotalAssetsAcquired"/>
  <xs:element name="NetLiabilitiesExcludingOfCashAcquires" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_NetLiabilitiesExcludingOfCashAcquires"/>
  <xs:element name="RedeemableNoncontrollingInterest" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_RedeemableNoncontrollingInterest"/>
  <xs:element name="CashandCashEquivalentsDetailsScheduleofcashandcashequivalentsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_CashandCashEquivalentsDetailsScheduleofcashandcashequivalentsTable"/>
  <xs:element name="CashandCashEquivalentsDetailsScheduleofcashandcashequivalentsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_CashandCashEquivalentsDetailsScheduleofcashandcashequivalentsLineItems"/>
  <xs:element name="CashAndDepositsForImmediateWithdrawal" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_CashAndDepositsForImmediateWithdrawal"/>
  <xs:element name="CashEquivalentsInNISdenominatedDeposit" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_CashEquivalentsInNISdenominatedDeposit"/>
  <xs:element name="OtherAccountsReceivavableAndPrepaidExpesnesDetailsScheduleofotheraccountsreceivableandprepaidexpensesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_OtherAccountsReceivavableAndPrepaidExpesnesDetailsScheduleofotheraccountsreceivableandprepaidexpensesTable"/>
  <xs:element name="OtherAccountsReceivavableAndPrepaidExpesnesDetailsScheduleofotheraccountsreceivableandprepaidexpensesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_OtherAccountsReceivavableAndPrepaidExpesnesDetailsScheduleofotheraccountsreceivableandprepaidexpensesLineItems"/>
  <xs:element name="FairValueMeasurementDetailsScheduleoffinancialassetsandliabilitiesmeasuredatfairvalueonarecurringbasisTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_FairValueMeasurementDetailsScheduleoffinancialassetsandliabilitiesmeasuredatfairvalueonarecurringbasisTable"/>
  <xs:element name="FairValueMeasurementDetailsScheduleoffinancialassetsandliabilitiesmeasuredatfairvalueonarecurringbasisLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_FairValueMeasurementDetailsScheduleoffinancialassetsandliabilitiesmeasuredatfairvalueonarecurringbasisLineItems"/>
  <xs:element name="LiabilityInRespectOfBusinessCombinations" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_LiabilityInRespectOfBusinessCombinations"/>
  <xs:element name="PutOptionsOfNoncontrollingInterestsliabilities" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_PutOptionsOfNoncontrollingInterestsliabilities"/>
  <xs:element name="FairValueMeasurementDetailsScheduleofliabilitiesinrespectofthebusinesscombinationsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_FairValueMeasurementDetailsScheduleofliabilitiesinrespectofthebusinesscombinationsTable"/>
  <xs:element name="FairValueMeasurementDetailsScheduleofliabilitiesinrespectofthebusinesscombinationsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_FairValueMeasurementDetailsScheduleofliabilitiesinrespectofthebusinesscombinationsLineItems"/>
  <xs:element name="PaymentOfContingentConsideration" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_PaymentOfContingentConsideration"/>
  <xs:element name="IncreaseInFairValueOfContingentConsideration" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_IncreaseInFairValueOfContingentConsideration"/>
  <xs:element name="DecreaseInFairValueOfContingentConsideration" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_DecreaseInFairValueOfContingentConsideration"/>
  <xs:element name="ForeignCurrencyTranslationAdjustments" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_ForeignCurrencyTranslationAdjustments"/>
  <xs:element name="AmortizationOfInterestAndExchangeRate" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_AmortizationOfInterestAndExchangeRate"/>
  <xs:element name="PutOptionsOfNoncontrollingInterests" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_PutOptionsOfNoncontrollingInterests"/>
  <xs:element name="LiabilityInRespectOfBusinessCombination" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_LiabilityInRespectOfBusinessCombination"/>
  <xs:element name="LoansFromBankAndFinancialInstitutions" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_LoansFromBankAndFinancialInstitutions"/>
  <xs:element name="TotalFinancialsAndLeaseLiabilities" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_TotalFinancialsAndLeaseLiabilities"/>
  <xs:element name="PropertyPlantsandEquipmentNetDetailsScheduleofthecompositionandmovementTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_PropertyPlantsandEquipmentNetDetailsScheduleofthecompositionandmovementTable"/>
  <xs:element name="PropertyPlantsandEquipmentNetDetailsScheduleofthecompositionandmovementLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_PropertyPlantsandEquipmentNetDetailsScheduleofthecompositionandmovementLineItems"/>
  <xs:element name="CostAtBeginnings" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_CostAtBeginnings"/>
  <xs:element name="CostPurchases" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_CostPurchases"/>
  <xs:element name="CostAcquisition" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_CostAcquisition"/>
  <xs:element name="CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations"/>
  <xs:element name="CostDisposals" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_CostDisposals"/>
  <xs:element name="AccumulatedDepreciationAtBeginning" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_AccumulatedDepreciationAtBeginning"/>
  <xs:element name="AccumulatedDepreciationDepreciation" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_AccumulatedDepreciationDepreciation"/>
  <xs:element name="AccumulatedDepreciationDisposals" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_AccumulatedDepreciationDisposals"/>
  <xs:element name="AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp"/>
  <xs:element name="AccumulatedDepreciationDepreciatedCosts" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_AccumulatedDepreciationDepreciatedCosts"/>
  <xs:element name="AccumulatedDepreciationDepreciatedCostsBeginning" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_AccumulatedDepreciationDepreciatedCostsBeginning"/>
  <xs:element name="IntangibleAssetsNetDetailsScheduleofintangibleassetsofcompositionandmovementTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetsofcompositionandmovementTable"/>
  <xs:element name="IntangibleAssetsNetDetailsScheduleofintangibleassetsofcompositionandmovementLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetsofcompositionandmovementLineItems"/>
  <xs:element name="GoodwillandOtherIntangibleAssetCost" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_GoodwillandOtherIntangibleAssetCost"/>
  <xs:element name="CapitalizedDevelopmentCosts" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_CapitalizedDevelopmentCosts"/>
  <xs:element name="AcquisitionOfSubsidiariesCosts" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_AcquisitionOfSubsidiariesCosts"/>
  <xs:element name="AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations"/>
  <xs:element name="AccumulatedAmortizationAndImpairment" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_AccumulatedAmortizationAndImpairment"/>
  <xs:element name="AmortizationRecognized" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_AmortizationRecognized"/>
  <xs:element name="AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization"/>
  <xs:element name="IntangibleAssetsNetDetailsScheduleofamortizationexpensesrelatedtointangibleassetsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_IntangibleAssetsNetDetailsScheduleofamortizationexpensesrelatedtointangibleassetsTable"/>
  <xs:element name="IntangibleAssetsNetDetailsScheduleofamortizationexpensesrelatedtointangibleassetsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_IntangibleAssetsNetDetailsScheduleofamortizationexpensesrelatedtointangibleassetsLineItems"/>
  <xs:element name="CostsOfRevenue" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_CostsOfRevenue"/>
  <xs:element name="IntangibleAssets" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_IntangibleAssets"/>
  <xs:element name="IntangibleAssetsNetDetailsScheduleofintangibleassetscompositionbyreportablesegmentTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetscompositionbyreportablesegmentTable"/>
  <xs:element name="IntangibleAssetsNetDetailsScheduleofintangibleassetscompositionbyreportablesegmentLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetscompositionbyreportablesegmentLineItems"/>
  <xs:element name="CapitalizedSoftwareDevelopmentCosts" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_CapitalizedSoftwareDevelopmentCosts"/>
  <xs:element name="CustomerRelationship" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_CustomerRelationship"/>
  <xs:element name="AcquiredTechnology" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_AcquiredTechnology"/>
  <xs:element name="IntangibleAssetsNetDetailsScheduleofestimatedfutureamortizationofintangibleassetsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_IntangibleAssetsNetDetailsScheduleofestimatedfutureamortizationofintangibleassetsTable"/>
  <xs:element name="IntangibleAssetsNetDetailsScheduleofestimatedfutureamortizationofintangibleassetsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_IntangibleAssetsNetDetailsScheduleofestimatedfutureamortizationofintangibleassetsLineItems"/>
  <xs:element name="EstimatedFutureAmortizationExpensesOne" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_EstimatedFutureAmortizationExpensesOne"/>
  <xs:element name="EstimatedFutureAmortizationExpensesTwo" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_EstimatedFutureAmortizationExpensesTwo"/>
  <xs:element name="EstimatedFutureAmortizationExpensesThree" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_EstimatedFutureAmortizationExpensesThree"/>
  <xs:element name="EstimatedFutureAmortizationExpensesFour" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_EstimatedFutureAmortizationExpensesFour"/>
  <xs:element name="EstimatedFutureAmortizationExpensesFiveAndThereafter" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_EstimatedFutureAmortizationExpensesFiveAndThereafter"/>
  <xs:element name="EstimatedFutureAmortizationExpenses" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_EstimatedFutureAmortizationExpenses"/>
  <xs:element name="GoodwillDetailsScheduleofcarryingamountofgoodwillTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_GoodwillDetailsScheduleofcarryingamountofgoodwillTable"/>
  <xs:element name="GoodwillDetailsScheduleofcarryingamountofgoodwillLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_GoodwillDetailsScheduleofcarryingamountofgoodwillLineItems"/>
  <xs:element name="AcquisitionsOfSubsidiaries" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_AcquisitionsOfSubsidiaries"/>
  <xs:element name="GoodwillDetailsScheduleofassessmentforgoodwillimpairmentTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_GoodwillDetailsScheduleofassessmentforgoodwillimpairmentTable"/>
  <xs:element name="GoodwillDetailsScheduleofassessmentforgoodwillimpairmentLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_GoodwillDetailsScheduleofassessmentforgoodwillimpairmentLineItems"/>
  <xs:element name="WeightedAverageCostOfCapitals" type="dtr:percentItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="mgic_WeightedAverageCostOfCapitals"/>
  <xs:element name="TerminalValueGrowthRate" type="dtr:percentItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="mgic_TerminalValueGrowthRate"/>
  <xs:element name="ShortTermDebtsTypeDomain" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ShortTermDebtsTypeDomain"/>
  <xs:element name="ShortTermDebtsDetailsScheduleofshorttermdebtsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsTable"/>
  <xs:element name="ShortTermDebtsDetailsScheduleofshorttermdebtsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsLineItems"/>
  <xs:element name="DebtInstrumentInterestRatesStatedPercentage" type="dtr:percentItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="mgic_DebtInstrumentInterestRatesStatedPercentage"/>
  <xs:element name="DerivativeCurrenciesBought" type="xbrli:stringItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_DerivativeCurrenciesBought"/>
  <xs:element name="TotalShortTermBorrowings" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_TotalShortTermBorrowings"/>
  <xs:element name="AccruedExpenses" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_AccruedExpenses"/>
  <xs:element name="LongTermDebtDomain" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_LongTermDebtDomain"/>
  <xs:element name="LongTermDebtsDetailsScheduleoflongtermliabilitiesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_LongTermDebtsDetailsScheduleoflongtermliabilitiesTable"/>
  <xs:element name="LongTermDebtsDetailsScheduleoflongtermliabilitiesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_LongTermDebtsDetailsScheduleoflongtermliabilitiesLineItems"/>
  <xs:element name="TotalLongTermBorrowings" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_TotalLongTermBorrowings"/>
  <xs:element name="LongTermDebtsDetailsScheduleofmaturitydatesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_LongTermDebtsDetailsScheduleofmaturitydatesTable"/>
  <xs:element name="LongTermDebtsDetailsScheduleofmaturitydatesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_LongTermDebtsDetailsScheduleofmaturitydatesLineItems"/>
  <xs:element name="FirstYearCurrentMaturities" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_FirstYearCurrentMaturities"/>
  <xs:element name="SecondYear" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_SecondYear"/>
  <xs:element name="ThirdYearinShares" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_ThirdYearinShares"/>
  <xs:element name="FourthYear" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_FourthYear"/>
  <xs:element name="FifthYearAndThereafter" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_FifthYearAndThereafter"/>
  <xs:element name="LongTermDebtMaturitiesYear" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_LongTermDebtMaturitiesYear"/>
  <xs:element name="LeasesDetailsScheduleofmaturityanalysisofundiscountedfutureleasepaymentsforleaseliabilitiesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_LeasesDetailsScheduleofmaturityanalysisofundiscountedfutureleasepaymentsforleaseliabilitiesTable"/>
  <xs:element name="LeasesDetailsScheduleofmaturityanalysisofundiscountedfutureleasepaymentsforleaseliabilitiesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_LeasesDetailsScheduleofmaturityanalysisofundiscountedfutureleasepaymentsforleaseliabilitiesLineItems"/>
  <xs:element name="OperatingLeasesFutureMinimumPaymentDue" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_OperatingLeasesFutureMinimumPaymentDue"/>
  <xs:element name="LeasesDetailsScheduleofleaseinformationTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_LeasesDetailsScheduleofleaseinformationTable"/>
  <xs:element name="LeasesDetailsScheduleofleaseinformationLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_LeasesDetailsScheduleofleaseinformationLineItems"/>
  <xs:element name="ExpenseRelatingToOperatingLeaseCostsPaymentsNotIncludedInMeasurementOfLeaseLiabilities" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_ExpenseRelatingToOperatingLeaseCostsPaymentsNotIncludedInMeasurementOfLeaseLiabilities"/>
  <xs:element name="LeasesDetailsScheduleofweightedaverageremainingleasetermsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_LeasesDetailsScheduleofweightedaverageremainingleasetermsTable"/>
  <xs:element name="LeasesDetailsScheduleofweightedaverageremainingleasetermsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_LeasesDetailsScheduleofweightedaverageremainingleasetermsLineItems"/>
  <xs:element name="WeightedAverageRemainingLeaseTermyears" type="xbrli:durationItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="mgic_WeightedAverageRemainingLeaseTermyears"/>
  <xs:element name="WeightedAverageDiscountRate" type="dtr:percentItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="mgic_WeightedAverageDiscountRate"/>
  <xs:element name="LeasesDetailsScheduleofrightofuseassetsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_LeasesDetailsScheduleofrightofuseassetsTable"/>
  <xs:element name="LeasesDetailsScheduleofrightofuseassetsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_LeasesDetailsScheduleofrightofuseassetsLineItems"/>
  <xs:element name="ModificationOfLeases" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_ModificationOfLeases"/>
  <xs:element name="AdjustmentsForIndexation" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_AdjustmentsForIndexation"/>
  <xs:element name="DepreciatedCost" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_DepreciatedCost"/>
  <xs:element name="TerminationOfLeases" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_TerminationOfLeases"/>
  <xs:element name="CostAtEnding" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_CostAtEnding"/>
  <xs:element name="ShareBasedPaymentsDetailsScheduleoffairvalueoftheoptionsgrantedusingtheBinomialmodelTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_ShareBasedPaymentsDetailsScheduleoffairvalueoftheoptionsgrantedusingtheBinomialmodelTable"/>
  <xs:element name="ShareBasedPaymentsDetailsScheduleoffairvalueoftheoptionsgrantedusingtheBinomialmodelLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ShareBasedPaymentsDetailsScheduleoffairvalueoftheoptionsgrantedusingtheBinomialmodelLineItems"/>
  <xs:element name="WeightedAverageExpectedExerciseFactor" type="xbrli:decimalItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_WeightedAverageExpectedExerciseFactor"/>
  <xs:element name="FairValueOfOptionAtTheGrantDate" type="dtr:perShareItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_FairValueOfOptionAtTheGrantDate"/>
  <xs:element name="ShareBasedPaymentsDetailsScheduleofemployeeoptionactivityTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_ShareBasedPaymentsDetailsScheduleofemployeeoptionactivityTable"/>
  <xs:element name="ShareBasedPaymentsDetailsScheduleofemployeeoptionactivityLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ShareBasedPaymentsDetailsScheduleofemployeeoptionactivityLineItems"/>
  <xs:element name="WeightedAverageRemainingContractualTermOutstandingBeginning" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_WeightedAverageRemainingContractualTermOutstandingBeginning"/>
  <xs:element name="ShareBasedCompensationsAggregateIntrinsicValueOutstanding" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding"/>
  <xs:element name="WeightedAverageRemainingContractualTermOutstandingEnding" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_WeightedAverageRemainingContractualTermOutstandingEnding"/>
  <xs:element name="WeightedAverageRemainingContractualTermExercisable" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_WeightedAverageRemainingContractualTermExercisable"/>
  <xs:element name="ShareBasedCompensationAggregateIntrinsicValueExercisable" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_ShareBasedCompensationAggregateIntrinsicValueExercisable"/>
  <xs:element name="ShareBasedPaymentsDetailsScheduleofoptionsoutstandingTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_ShareBasedPaymentsDetailsScheduleofoptionsoutstandingTable"/>
  <xs:element name="ShareBasedPaymentsDetailsScheduleofoptionsoutstandingLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ShareBasedPaymentsDetailsScheduleofoptionsoutstandingLineItems"/>
  <xs:element name="WeightedAverageRemainingContractualLifeExercisePrice" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_WeightedAverageRemainingContractualLifeExercisePrice"/>
  <xs:element name="WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice" type="xbrli:sharesItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="mgic_WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice"/>
  <xs:element name="ShareBasedPaymentsDetailsScheduleofsharebasedpaymentexpenserelatedtoemployeestockoptionTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_ShareBasedPaymentsDetailsScheduleofsharebasedpaymentexpenserelatedtoemployeestockoptionTable"/>
  <xs:element name="ShareBasedPaymentsDetailsScheduleofsharebasedpaymentexpenserelatedtoemployeestockoptionLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ShareBasedPaymentsDetailsScheduleofsharebasedpaymentexpenserelatedtoemployeestockoptionLineItems"/>
  <xs:element name="SellingAndMarketingExpenses" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_SellingAndMarketingExpenses"/>
  <xs:element name="EmployeeBenefitLiabilitiesDetailsScheduleofdefinedbenefitplansTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_EmployeeBenefitLiabilitiesDetailsScheduleofdefinedbenefitplansTable"/>
  <xs:element name="EmployeeBenefitLiabilitiesDetailsScheduleofdefinedbenefitplansLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_EmployeeBenefitLiabilitiesDetailsScheduleofdefinedbenefitplansLineItems"/>
  <xs:element name="EquityDetailsScheduleofaccumulatedothercomprehensiveincomelossTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_EquityDetailsScheduleofaccumulatedothercomprehensiveincomelossTable"/>
  <xs:element name="EquityDetailsScheduleofaccumulatedothercomprehensiveincomelossLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_EquityDetailsScheduleofaccumulatedothercomprehensiveincomelossLineItems"/>
  <xs:element name="AccumulatedUnrealizedGainOnDerivativeInstrumentsNet" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_AccumulatedUnrealizedGainOnDerivativeInstrumentsNet"/>
  <xs:element name="DeferredTaxesAssets" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_DeferredTaxesAssets"/>
  <xs:element name="Total" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_Total"/>
  <xs:element name="NetOperatingLossesCarriedForward" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_NetOperatingLossesCarriedForward"/>
  <xs:element name="IntangiblesFixedAssetLeaseLiabilitiesAndRightOfUseAssets" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_IntangiblesFixedAssetLeaseLiabilitiesAndRightOfUseAssets"/>
  <xs:element name="ReservesAndAllowances" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_ReservesAndAllowances"/>
  <xs:element name="CompositionofDeferredTaxesTotal" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_CompositionofDeferredTaxesTotal"/>
  <xs:element name="CurrentFederalTaxExpenseBenefi" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_CurrentFederalTaxExpenseBenefi"/>
  <xs:element name="ForeignTaxExpenseBenefit" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_ForeignTaxExpenseBenefit"/>
  <xs:element name="IncomeTaxExpensesBenefit" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_IncomeTaxExpensesBenefit"/>
  <xs:element name="DeferredForeignIncomeTaxExpenseBenefi" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_DeferredForeignIncomeTaxExpenseBenefi"/>
  <xs:element name="DeferredIncomeTaxExpensesBenefit" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_DeferredIncomeTaxExpensesBenefit"/>
  <xs:element name="TaxesOnIncome" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_TaxesOnIncome"/>
  <xs:element name="IncomeBeforeIncomeTaxesAsPerTheStatementOfOperations" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_IncomeBeforeIncomeTaxesAsPerTheStatementOfOperations"/>
  <xs:element name="StatutoryTaxRatePercentage" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_StatutoryTaxRatePercentage"/>
  <xs:element name="TaxComputedAtTheStatutoryTaxRate" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_TaxComputedAtTheStatutoryTaxRate"/>
  <xs:element name="DeferredTaxesOnLossesForWhichDeferredTaxesWereNotCreated" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_DeferredTaxesOnLossesForWhichDeferredTaxesWereNotCreated"/>
  <xs:element name="NondeductibleExpensesAndTaxExpensesInRespectOfPriorYearsNet" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_NondeductibleExpensesAndTaxExpensesInRespectOfPriorYearsNet"/>
  <xs:element name="UncertainTaxPositionsAndOther" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_UncertainTaxPositionsAndOther"/>
  <xs:element name="UnbilledReceivables" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_UnbilledReceivables"/>
  <xs:element name="AllowanceAccountForCreditLosses" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_AllowanceAccountForCreditLosses"/>
  <xs:element name="RevenueRecognitionDetailsScheduleofpastduebutnotimpairedtradereceivablesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_RevenueRecognitionDetailsScheduleofpastduebutnotimpairedtradereceivablesTable"/>
  <xs:element name="RevenueRecognitionDetailsScheduleofpastduebutnotimpairedtradereceivablesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_RevenueRecognitionDetailsScheduleofpastduebutnotimpairedtradereceivablesLineItems"/>
  <xs:element name="TotalTradeReceivablesNet" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_TotalTradeReceivablesNet"/>
  <xs:element name="ProductsAndServicesTransferredOverTime" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_ProductsAndServicesTransferredOverTime"/>
  <xs:element name="ProductsTransferredAtAPointInTime" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_ProductsTransferredAtAPointInTime"/>
  <xs:element name="SelectedStatementsofIncomeDataDetailsScheduleofresearchanddevelopmentcostsnetTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_SelectedStatementsofIncomeDataDetailsScheduleofresearchanddevelopmentcostsnetTable"/>
  <xs:element name="SelectedStatementsofIncomeDataDetailsScheduleofresearchanddevelopmentcostsnetLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_SelectedStatementsofIncomeDataDetailsScheduleofresearchanddevelopmentcostsnetLineItems"/>
  <xs:element name="TotalResearchandDevelopment" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_TotalResearchandDevelopment"/>
  <xs:element name="CapitalizedSoftwareCosts" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_CapitalizedSoftwareCosts"/>
  <xs:element name="SelectedStatementsofIncomeDataDetailsScheduleofsellingandmarketingexpensesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_SelectedStatementsofIncomeDataDetailsScheduleofsellingandmarketingexpensesTable"/>
  <xs:element name="SelectedStatementsofIncomeDataDetailsScheduleofsellingandmarketingexpensesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_SelectedStatementsofIncomeDataDetailsScheduleofsellingandmarketingexpensesLineItems"/>
  <xs:element name="SelectedStatementsofIncomeDataDetailsScheduleofgeneralandadministrativeexpensesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_SelectedStatementsofIncomeDataDetailsScheduleofgeneralandadministrativeexpensesTable"/>
  <xs:element name="SelectedStatementsofIncomeDataDetailsScheduleofgeneralandadministrativeexpensesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_SelectedStatementsofIncomeDataDetailsScheduleofgeneralandadministrativeexpensesLineItems"/>
  <xs:element name="Subcontractors" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_Subcontractors"/>
  <xs:element name="SelectedStatementsofIncomeDataDetailsScheduleoffinancialincomeandexpensesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_SelectedStatementsofIncomeDataDetailsScheduleoffinancialincomeandexpensesTable"/>
  <xs:element name="SelectedStatementsofIncomeDataDetailsScheduleoffinancialincomeandexpensesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_SelectedStatementsofIncomeDataDetailsScheduleoffinancialincomeandexpensesLineItems"/>
  <xs:element name="FinancialExpensesRelatedToLiabilitiesInRespectOfBusinessCombinations" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_FinancialExpensesRelatedToLiabilitiesInRespectOfBusinessCombinations"/>
  <xs:element name="NetIncomeAttributableToMagicShareholdersinDollarsPerShare" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_NetIncomeAttributableToMagicShareholdersinDollarsPerShare"/>
  <xs:element name="EffectOfDilutiveSecurities" type="xbrli:sharesItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_EffectOfDilutiveSecurities"/>
  <xs:element name="OperatingsegmentsDetailsScheduleofreportedsegmentresultsofoperationTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_OperatingsegmentsDetailsScheduleofreportedsegmentresultsofoperationTable"/>
  <xs:element name="OperatingsegmentsDetailsScheduleofreportedsegmentresultsofoperationLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_OperatingsegmentsDetailsScheduleofreportedsegmentresultsofoperationLineItems"/>
  <xs:element name="OperatingsegmentsDetailsScheduleoflonglivedassetsclassifiedaccordingtogeographicaldestinationTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsclassifiedaccordingtogeographicaldestinationTable"/>
  <xs:element name="OperatingsegmentsDetailsScheduleoflonglivedassetsclassifiedaccordingtogeographicaldestinationLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsclassifiedaccordingtogeographicaldestinationLineItems"/>
  <xs:element name="TotalRevenues" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_TotalRevenues"/>
  <xs:element name="OperatingsegmentsDetailsScheduleoflonglivedassetsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsTable"/>
  <xs:element name="OperatingsegmentsDetailsScheduleoflonglivedassetsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsLineItems"/>
  <xs:element name="LonglivedAssets" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_LonglivedAssets"/>
  <xs:element name="AccountingStandardsDomain" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_AccountingStandardsDomain"/>
  <xs:element name="TransitiontoIFRSDetailsScheduleofreconciliationofstatementsoffinancialpositionTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_TransitiontoIFRSDetailsScheduleofreconciliationofstatementsoffinancialpositionTable"/>
  <xs:element name="TransitiontoIFRSDetailsScheduleofreconciliationofstatementsoffinancialpositionLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_TransitiontoIFRSDetailsScheduleofreconciliationofstatementsoffinancialpositionLineItems"/>
  <xs:element name="SeverancePayFund" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_SeverancePayFund"/>
  <xs:element name="DeferredTaxAssetsNonCurrent" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_DeferredTaxAssetsNonCurrent"/>
  <xs:element name="DeferredTaxLiabilitiesNonCurrent" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_DeferredTaxLiabilitiesNonCurrent"/>
  <xs:element name="RedeemableNonControllingInterest" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_RedeemableNonControllingInterest"/>
  <xs:element name="TransitiontoIFRSDetailsScheduleofconsolidatedstatementofprofitorlossTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_TransitiontoIFRSDetailsScheduleofconsolidatedstatementofprofitorlossTable"/>
  <xs:element name="TransitiontoIFRSDetailsScheduleofconsolidatedstatementofprofitorlossLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_TransitiontoIFRSDetailsScheduleofconsolidatedstatementofprofitorlossLineItems"/>
  <xs:element name="RedeemableNoncontrollingInterests" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_RedeemableNoncontrollingInterests"/>
  <xs:element name="TransitiontoIFRSDetailsScheduleofconsolidatedstatementofprofitorlossParentheticalsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_TransitiontoIFRSDetailsScheduleofconsolidatedstatementofprofitorlossParentheticalsTable"/>
  <xs:element name="TransitiontoIFRSDetailsScheduleofconsolidatedstatementofprofitorlossParentheticalsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_TransitiontoIFRSDetailsScheduleofconsolidatedstatementofprofitorlossParentheticalsLineItems"/>
  <xs:element name="TransitiontoIFRSDetailsScheduleofequityattributabletoMagicsshareholdersTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_TransitiontoIFRSDetailsScheduleofequityattributabletoMagicsshareholdersTable"/>
  <xs:element name="TransitiontoIFRSDetailsScheduleofequityattributabletoMagicsshareholdersLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_TransitiontoIFRSDetailsScheduleofequityattributabletoMagicsshareholdersLineItems"/>
  <xs:element name="MeasurementAdjustmentsRelatedToLeases" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_MeasurementAdjustmentsRelatedToLeases"/>
  <xs:element name="TransitionToIFRS" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_TransitionToIFRS"/>
  <xs:element name="SignificantAccountingPoliciesDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_SignificantAccountingPoliciesDetailsTable"/>
  <xs:element name="SignificantAccountingPoliciesDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_SignificantAccountingPoliciesDetailsLineItems"/>
  <xs:element name="InterestRate" type="dtr:percentItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="mgic_InterestRate"/>
  <xs:element name="EstimatedUsefulLives" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_EstimatedUsefulLives"/>
  <xs:element name="BusinessCombinationsDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_BusinessCombinationsDetailsTable"/>
  <xs:element name="BusinessCombinationsDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_BusinessCombinationsDetailsLineItems"/>
  <xs:element name="OutstandingSharePercentage" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_OutstandingSharePercentage"/>
  <xs:element name="CompetitiveDigitalEcosystem" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_CompetitiveDigitalEcosystem"/>
  <xs:element name="ClosingPayment" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_ClosingPayment"/>
  <xs:element name="AdvancePaymentForFutureAcquisition" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_AdvancePaymentForFutureAcquisition"/>
  <xs:element name="PurchaseOfSharesHoldingPercentage" type="dtr:percentItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="mgic_PurchaseOfSharesHoldingPercentage"/>
  <xs:element name="SharesPercentage" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_SharesPercentage"/>
  <xs:element name="CashConsiderationAmount" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_CashConsiderationAmount"/>
  <xs:element name="EqualInstallments" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_EqualInstallments"/>
  <xs:element name="PurchaseOfSharesPercentage" type="dtr:perShareItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_PurchaseOfSharesPercentage"/>
  <xs:element name="PaidInCash" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_PaidInCash"/>
  <xs:element name="RemainingOptionInterestPecentage" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_RemainingOptionInterestPecentage"/>
  <xs:element name="FinancialDebtsNotExceedPercentage" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_FinancialDebtsNotExceedPercentage"/>
  <xs:element name="LoanAgreementDescription" type="xbrli:stringItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_LoanAgreementDescription"/>
  <xs:element name="LoanObtained" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_LoanObtained"/>
  <xs:element name="DerivativeFixedInterestRates" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_DerivativeFixedInterestRates"/>
  <xs:element name="RelatedPartiesTransactionsDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_RelatedPartiesTransactionsDetailsTable"/>
  <xs:element name="RelatedPartiesTransactionsDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_RelatedPartiesTransactionsDetailsLineItems"/>
  <xs:element name="LeasesExtendToAdditionalYears" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_LeasesExtendToAdditionalYears"/>
  <xs:element name="LeaseOptionToTerminate" type="xbrli:stringItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_LeaseOptionToTerminate"/>
  <xs:element name="DescriptionOfLeaseExpiring" type="xbrli:stringItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_DescriptionOfLeaseExpiring"/>
  <xs:element name="ShareBasedPaymentsDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_ShareBasedPaymentsDetailsTable"/>
  <xs:element name="ShareBasedPaymentsDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ShareBasedPaymentsDetailsLineItems"/>
  <xs:element name="AggregateOrdinarySharesAvailableForFutureGrants" type="xbrli:sharesItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="mgic_AggregateOrdinarySharesAvailableForFutureGrants"/>
  <xs:element name="OptionGrantExercisableContractualLifeOfOutstandingShareOption" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_OptionGrantExercisableContractualLifeOfOutstandingShareOption"/>
  <xs:element name="ExerciseOptionVestLife" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ExerciseOptionVestLife"/>
  <xs:element name="PurchaseOfOptionShares" type="xbrli:sharesItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="mgic_PurchaseOfOptionShares"/>
  <xs:element name="TotalIntrinsicValueOfOptionsExercised" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_TotalIntrinsicValueOfOptionsExercised"/>
  <xs:element name="UnrecognizedCompensationCostRelatedToNonVestedOptions" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_UnrecognizedCompensationCostRelatedToNonVestedOptions"/>
  <xs:element name="PurchaseOfShares" type="xbrli:sharesItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="mgic_PurchaseOfShares"/>
  <xs:element name="DescriptionOfExercisePriceRange" type="xbrli:stringItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_DescriptionOfExercisePriceRange"/>
  <xs:element name="WeightedAverageRemainingContractualLifeOfOutstandingShareOption" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_WeightedAverageRemainingContractualLifeOfOutstandingShareOption"/>
  <xs:element name="SeveranceExpenses" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_SeveranceExpenses"/>
  <xs:element name="AnnualCompensationPercentage" type="dtr:percentItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="mgic_AnnualCompensationPercentage"/>
  <xs:element name="EmployeeContributionsPercentage" type="dtr:percentItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="mgic_EmployeeContributionsPercentage"/>
  <xs:element name="CommitmentsandContingenciesDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_CommitmentsandContingenciesDetailsTable"/>
  <xs:element name="CommitmentsandContingenciesDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_CommitmentsandContingenciesDetailsLineItems"/>
  <xs:element name="LeaseAmount" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_LeaseAmount"/>
  <xs:element name="LossContingencyDamagesSoughtValues" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_LossContingencyDamagesSoughtValues"/>
  <xs:element name="DividendDistributed" type="dtr:percentItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="mgic_DividendDistributed"/>
  <xs:element name="IncomeTaxDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_IncomeTaxDetailsTable"/>
  <xs:element name="IncomeTaxDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_IncomeTaxDetailsLineItems"/>
  <xs:element name="TaxableIncomePercentage" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_TaxableIncomePercentage"/>
  <xs:element name="LeasePercentage" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_LeasePercentage"/>
  <xs:element name="AccumulatedTaxExemptEarnings" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_AccumulatedTaxExemptEarnings"/>
  <xs:element name="TaxExpenses" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_TaxExpenses"/>
  <xs:element name="OperatingLossCarryforwardsAmount" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_OperatingLossCarryforwardsAmount"/>
  <xs:element name="TaxLossCarryforwards" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_TaxLossCarryforwards"/>
  <xs:element name="AggregateAmount" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_AggregateAmount"/>
  <xs:element name="PercentageOfPerformanceObligations" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_PercentageOfPerformanceObligations"/>
  <xs:element name="DeferredRevenueOther" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="mgic_DeferredRevenueOther"/>
  <xs:element name="OperatingsegmentsDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_OperatingsegmentsDetailsTable"/>
  <xs:element name="OperatingsegmentsDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_OperatingsegmentsDetailsLineItems"/>
  <xs:element name="CompanyRevenues" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_CompanyRevenues"/>
  <xs:element name="TransitiontoIFRSDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_TransitiontoIFRSDetailsTable"/>
  <xs:element name="TransitiontoIFRSDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_TransitiontoIFRSDetailsLineItems"/>
  <xs:element name="SubsequentEventsDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="mgic_SubsequentEventsDetailsTable"/>
  <xs:element name="SubsequentEventsDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_SubsequentEventsDetailsLineItems"/>
  <xs:element name="AnnualInstalmentsRepaid" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="mgic_AnnualInstalmentsRepaid"/>
  <xs:element name="AccountingStandardsAxis" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:dimensionItem" id="mgic_AccountingStandardsAxis"/>
  <xs:element name="LongTermDebtAxis" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:dimensionItem" id="mgic_LongTermDebtAxis"/>
  <xs:element name="ShortTermDebtsTypeAxis" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:dimensionItem" id="mgic_ShortTermDebtsTypeAxis"/>
  <xs:element name="AccruedInterestOnLongTermDebtMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_AccruedInterestOnLongTermDebtMember"/>
  <xs:element name="AccruedInterestOnLongTermDebtOneMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_AccruedInterestOnLongTermDebtOneMember"/>
  <xs:element name="AcquiredTechnologyMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_AcquiredTechnologyMember"/>
  <xs:element name="AllowancesForCreditLossMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_AllowancesForCreditLossMember"/>
  <xs:element name="AssetPurchaseAgreementsMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_AssetPurchaseAgreementsMember"/>
  <xs:element name="BankLoansMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_BankLoansMember"/>
  <xs:element name="CapitalizedSoftwareDevelopmentCostsMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_CapitalizedSoftwareDevelopmentCostsMember"/>
  <xs:element name="CommITSolutions2022PlanMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_CommITSolutions2022PlanMember"/>
  <xs:element name="ComputersAndPeripheralEquipmentMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ComputersAndPeripheralEquipmentMember"/>
  <xs:element name="ControllingShareholderMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ControllingShareholderMember"/>
  <xs:element name="CostMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_CostMember"/>
  <xs:element name="CostOfSharebasedPaymentMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_CostOfSharebasedPaymentMember"/>
  <xs:element name="CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionMember"/>
  <xs:element name="CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionsAndBanksMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionsAndBanksMember"/>
  <xs:element name="CustomerRelationshipMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_CustomerRelationshipMember"/>
  <xs:element name="CustomersRelationshipMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_CustomersRelationshipMember"/>
  <xs:element name="CustomersoneMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_CustomersoneMember"/>
  <xs:element name="EnableITLLCMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_EnableITLLCMember"/>
  <xs:element name="FormulaTelecomSolutionsLtdMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_FormulaTelecomSolutionsLtdMember"/>
  <xs:element name="FourHunderedSixtyNineMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_FourHunderedSixtyNineMember"/>
  <xs:element name="GoodkindGroupLLCMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_GoodkindGroupLLCMember"/>
  <xs:element name="ITProfessionalServicesMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ITProfessionalServicesMember"/>
  <xs:element name="LessCurrentMaturitiesMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_LessCurrentMaturitiesMember"/>
  <xs:element name="LoansFromBanksAndOthersMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_LoansFromBanksAndOthersMember"/>
  <xs:element name="MenarvaLtdMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_MenarvaLtdMember"/>
  <xs:element name="NeitherPastDueNorImpairedMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_NeitherPastDueNorImpairedMember"/>
  <xs:element name="NonadjustingEventAfterReportingPeriodMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_NonadjustingEventAfterReportingPeriodMember"/>
  <xs:element name="OfficeFurnitureAndEquipmentMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_OfficeFurnitureAndEquipmentMember"/>
  <xs:element name="OneThosandEightSeventyEightMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_OneThosandEightSeventyEightMember"/>
  <xs:element name="OtherGAAPAdjustmentsAndReclassificationsMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_OtherGAAPAdjustmentsAndReclassificationsMember"/>
  <xs:element name="OtherLongTermDebtsMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_OtherLongTermDebtsMember"/>
  <xs:element name="OtherMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_OtherMember"/>
  <xs:element name="RedeemableNoncontrollingInterestsMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_RedeemableNoncontrollingInterestsMember"/>
  <xs:element name="SPTEMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_SPTEMember"/>
  <xs:element name="SellingAndMarketingExpensesMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_SellingAndMarketingExpensesMember"/>
  <xs:element name="SharePurchaseAgreementMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_SharePurchaseAgreementMember"/>
  <xs:element name="ShortTermCreditFromBanksMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ShortTermCreditFromBanksMember"/>
  <xs:element name="SoftwareServicesMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_SoftwareServicesMember"/>
  <xs:element name="StockOptionPlanOfCommITSolutionsMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_StockOptionPlanOfCommITSolutionsMember"/>
  <xs:element name="StockOptionPlansOfTheCompanyMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_StockOptionPlansOfTheCompanyMember"/>
  <xs:element name="ThreePointEightOneMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ThreePointEightOneMember"/>
  <xs:element name="TotalLongTermDebtMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_TotalLongTermDebtMember"/>
  <xs:element name="TotalMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_TotalMember"/>
  <xs:element name="TwoThousandSevenPlanMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_TwoThousandSevenPlanMember"/>
  <xs:element name="USGAAPMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_USGAAPMember"/>
  <xs:element name="UnallocatedExpenseMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_UnallocatedExpenseMember"/>
  <xs:element name="UnpaidDeferredRevenuesMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_UnpaidDeferredRevenuesMember"/>
  <xs:element name="YGSoftITLtdMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_YGSoftITLtdMember"/>
  <xs:element name="ZeroMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ZeroMember"/>
  <xs:element name="ZeroPointTwoEightMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_ZeroPointTwoEightMember"/>
  <xs:element name="softwareMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_softwareMember"/>
  <xs:element name="AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract"/>
  <xs:element name="CashPaidreceivedNetAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_CashPaidreceivedNetAbstract"/>
  <xs:element name="CostofRevenueAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_CostofRevenueAbstract"/>
  <xs:element name="NetEarningsPerShareAttributableToEquityHoldersOfTheCompanyAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_NetEarningsPerShareAttributableToEquityHoldersOfTheCompanyAbstract"/>
  <xs:element name="NoncashActivitiesAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_NoncashActivitiesAbstract"/>
  <xs:element name="SupplementaryInformationOnInvestingAndFinancingActivitiesNotInvolvingCashFlowsAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_SupplementaryInformationOnInvestingAndFinancingActivitiesNotInvolvingCashFlowsAbstract"/>
  <xs:element name="WorkingCapitalAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_WorkingCapitalAbstract"/>
  <xs:element name="DocumentAndEntityInformationAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="mgic_DocumentAndEntityInformationAbstract"/>
</xs:schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>11
<FILENAME>mgic-20221231_cal.xml
<DESCRIPTION>XBRL CALCULATION FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
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<!-- Created: Thu May 11 19:37:27 UTC 2023 -->
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    <loc xlink:type="locator" xlink:label="dei_EntityAddressesAddressTypeAxis" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressesAddressTypeAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressesAddressTypeAxis_lbl" xml:lang="en-US">Entity Addresses, Address Type [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressesAddressTypeAxis" xlink:to="dei_EntityAddressesAddressTypeAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CurrentAssets_lbl" xml:lang="en-US">Total current assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssets" xlink:to="ifrs-full_CurrentAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncurrentAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NoncurrentAssets_lbl" xml:lang="en-US">Total long-term assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssets" xlink:to="ifrs-full_NoncurrentAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_Assets" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_Assets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_Assets_lbl" xml:lang="en-US">Total assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Assets" xlink:to="ifrs-full_Assets_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CurrentLiabilities_lbl" xml:lang="en-US">Total current liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="ifrs-full_CurrentLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncurrentLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NoncurrentLiabilities_lbl" xml:lang="en-US">Total long-term liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLiabilities" xlink:to="ifrs-full_NoncurrentLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_EquityAttributableToOwnersOfParent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent_lbl" xml:lang="en-US">Total equity attributable to Magic Software Enterprises shareholders</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAttributableToOwnersOfParent" xlink:to="ifrs-full_EquityAttributableToOwnersOfParent_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent_lbl0" xml:lang="en-US">Total equity attributable to company shareholders&#8217;</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAttributableToOwnersOfParent" xlink:to="ifrs-full_EquityAttributableToOwnersOfParent_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_Equity" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_Equity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_Equity_lbl" xml:lang="en-US">Total equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_Equity_lbl0" xml:lang="en-US">Balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_Equity_lbl1" xml:lang="en-US">Balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity_lbl1"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_EquityAndLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_EquityAndLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_EquityAndLiabilities_lbl" xml:lang="en-US">Total liabilities and equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAndLiabilities" xlink:to="ifrs-full_EquityAndLiabilities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EquityAndLiabilities_lbl0" xml:lang="en-US">Total liabilities, redeemable non-controlling interest and equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAndLiabilities" xlink:to="ifrs-full_EquityAndLiabilities_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_Revenue" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_Revenue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_Revenue_lbl" xml:lang="en-US">Total revenues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Revenue" xlink:to="ifrs-full_Revenue_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CostOfSales" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CostOfSales"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CostOfSales_lbl" xml:lang="en-US">Total cost of revenues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CostOfSales" xlink:to="ifrs-full_CostOfSales_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProfitLoss" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProfitLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ProfitLoss_lbl" xml:lang="en-US">Net income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLoss" xlink:to="ifrs-full_ProfitLoss_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfitLoss_lbl0" xml:lang="en-US">Net income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLoss" xlink:to="ifrs-full_ProfitLoss_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherComprehensiveIncome" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherComprehensiveIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherComprehensiveIncome_lbl" xml:lang="en-US">Total other comprehensive income (loss), net of tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncome" xlink:to="ifrs-full_OtherComprehensiveIncome_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherComprehensiveIncome_lbl0" xml:lang="en-US">Other comprehensive income (loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncome" xlink:to="ifrs-full_OtherComprehensiveIncome_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ComprehensiveIncome" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ComprehensiveIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ComprehensiveIncome_lbl" xml:lang="en-US">Total Comprehensive income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncome" xlink:to="ifrs-full_ComprehensiveIncome_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ComprehensiveIncome_lbl0" xml:lang="en-US">Total comprehensive income (loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncome" xlink:to="ifrs-full_ComprehensiveIncome_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NumberOfSharesOutstanding" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NumberOfSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_NumberOfSharesOutstanding_lbl" xml:lang="en-US">Balance (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesOutstanding" xlink:to="ifrs-full_NumberOfSharesOutstanding_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_NumberOfSharesOutstanding_lbl0" xml:lang="en-US">Balance (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesOutstanding" xlink:to="ifrs-full_NumberOfSharesOutstanding_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ComponentsOfEquityAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ComponentsOfEquityAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComponentsOfEquityAxis_lbl" xml:lang="en-US">Components of equity [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComponentsOfEquityAxis" xlink:to="ifrs-full_ComponentsOfEquityAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashAndCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xml:lang="en-US">Cash and cash equivalents at beginning of year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalents" xlink:to="ifrs-full_CashAndCashEquivalents_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_CashAndCashEquivalents_lbl0" xml:lang="en-US">Cash and cash equivalents at end of year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalents" xlink:to="ifrs-full_CashAndCashEquivalents_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashAndCashEquivalents_lbl1" xml:lang="en-US">Cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalents" xlink:to="ifrs-full_CashAndCashEquivalents_lbl1"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfGeneralInformationAboutFinancialStatementsTextBlockAbstract" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfGeneralInformationAboutFinancialStatementsTextBlockAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisclosureOfGeneralInformationAboutFinancialStatementsTextBlockAbstract_lbl" xml:lang="en-US">General [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfGeneralInformationAboutFinancialStatementsTextBlockAbstract" xlink:to="mgic_DisclosureOfGeneralInformationAboutFinancialStatementsTextBlockAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ClassesOfAssetsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ClassesOfAssetsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfAssetsAxis_lbl" xml:lang="en-US">Classes of assets [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ifrs-full_ClassesOfAssetsAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RangeAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RangeAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RangeAxis_lbl" xml:lang="en-US">Range [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_RangeAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis_lbl" xml:lang="en-US">Classes of property, plant and equipment [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis_lbl" xml:lang="en-US">Intangible assets with indefinite useful life [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis" xlink:to="ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfBusinessCombinationsTextBlockAbstract" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfBusinessCombinationsTextBlockAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisclosureOfBusinessCombinationsTextBlockAbstract_lbl" xml:lang="en-US">Business Combinations [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfBusinessCombinationsTextBlockAbstract" xlink:to="mgic_DisclosureOfBusinessCombinationsTextBlockAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_BusinessCombinationsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BusinessCombinationsAxis_lbl" xml:lang="en-US">Business combinations [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_BusinessCombinationsAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesAbstract_lbl" xml:lang="en-US">Schedule of estimated fair values of the assets acquired and liabilities [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesAbstract" xlink:to="mgic_ScheduleOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate_lbl" xml:lang="en-US">Total assets acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate_lbl0" xml:lang="en-US">Total assets acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_CurrentAssetsRecognisedAsOfAcquisition" xlink:href="mgic-20221231.xsd#mgic_CurrentAssetsRecognisedAsOfAcquisition"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="mgic_CurrentAssetsRecognisedAsOfAcquisition_lbl" xml:lang="en-US">Total assets acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CurrentAssetsRecognisedAsOfAcquisition" xlink:to="mgic_CurrentAssetsRecognisedAsOfAcquisition_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TotalAssetsAcquired" xlink:href="mgic-20221231.xsd#mgic_TotalAssetsAcquired"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="mgic_TotalAssetsAcquired_lbl" xml:lang="en-US">Total assets acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalAssetsAcquired" xlink:to="mgic_TotalAssetsAcquired_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfCashAndCashEquivalentsTextBlockAbstract" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfCashAndCashEquivalentsTextBlockAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisclosureOfCashAndCashEquivalentsTextBlockAbstract_lbl" xml:lang="en-US">Cash and Cash Equivalents [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfCashAndCashEquivalentsTextBlockAbstract" xlink:to="mgic_DisclosureOfCashAndCashEquivalentsTextBlockAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfOtherAccountsReceivableAndPrepaidExpensesAbstract" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfOtherAccountsReceivableAndPrepaidExpensesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisclosureOfOtherAccountsReceivableAndPrepaidExpensesAbstract_lbl" xml:lang="en-US">Other Accounts Receivavable And Prepaid Expesnes [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfOtherAccountsReceivableAndPrepaidExpensesAbstract" xlink:to="mgic_DisclosureOfOtherAccountsReceivableAndPrepaidExpensesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LevelsOfFairValueHierarchyAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis_lbl" xml:lang="en-US">Levels of fair value hierarchy [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:to="ifrs-full_LevelsOfFairValueHierarchyAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LiabilityInRespectOfBusinessCombinations" xlink:href="mgic-20221231.xsd#mgic_LiabilityInRespectOfBusinessCombinations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="mgic_LiabilityInRespectOfBusinessCombinations_lbl" xml:lang="en-US">Opening balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LiabilityInRespectOfBusinessCombinations" xlink:to="mgic_LiabilityInRespectOfBusinessCombinations_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="mgic_LiabilityInRespectOfBusinessCombinations_lbl0" xml:lang="en-US">Closing balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LiabilityInRespectOfBusinessCombinations" xlink:to="mgic_LiabilityInRespectOfBusinessCombinations_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LiabilityInRespectOfBusinessCombinations_lbl1" xml:lang="en-US">Liability in respect of business combinations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LiabilityInRespectOfBusinessCombinations" xlink:to="mgic_LiabilityInRespectOfBusinessCombinations_lbl1"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_FinancialAssetsAtAmortisedCost" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinancialAssetsAtAmortisedCost"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_FinancialAssetsAtAmortisedCost_lbl" xml:lang="en-US">Total financial assets at cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsAtAmortisedCost" xlink:to="ifrs-full_FinancialAssetsAtAmortisedCost_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_FinancialAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinancialAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_FinancialAssets_lbl" xml:lang="en-US">Total financial assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssets" xlink:to="ifrs-full_FinancialAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_FinancialLiabilitiesAtAmortisedCost" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinancialLiabilitiesAtAmortisedCost"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_FinancialLiabilitiesAtAmortisedCost_lbl" xml:lang="en-US">Total financial liabilities measured at amortized cost:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilitiesAtAmortisedCost" xlink:to="ifrs-full_FinancialLiabilitiesAtAmortisedCost_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TotalFinancialsAndLeaseLiabilities" xlink:href="mgic-20221231.xsd#mgic_TotalFinancialsAndLeaseLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="mgic_TotalFinancialsAndLeaseLiabilities_lbl" xml:lang="en-US">Total financial and lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalFinancialsAndLeaseLiabilities" xlink:to="mgic_TotalFinancialsAndLeaseLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostAtBeginnings" xlink:href="mgic-20221231.xsd#mgic_CostAtBeginnings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="mgic_CostAtBeginnings_lbl" xml:lang="en-US">Cost at beginning</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAtBeginnings" xlink:to="mgic_CostAtBeginnings_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="mgic_CostAtBeginnings_lbl0" xml:lang="en-US">Cost at ending</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAtBeginnings" xlink:to="mgic_CostAtBeginnings_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostAtBeginnings_lbl1" xml:lang="en-US">Balance as of beginning</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAtBeginnings" xlink:to="mgic_CostAtBeginnings_lbl1"/>
    <loc xlink:type="locator" xlink:label="mgic_AccumulatedDepreciationAtBeginning" xlink:href="mgic-20221231.xsd#mgic_AccumulatedDepreciationAtBeginning"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="mgic_AccumulatedDepreciationAtBeginning_lbl" xml:lang="en-US">Accumulated depreciation at beginning</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedDepreciationAtBeginning" xlink:to="mgic_AccumulatedDepreciationAtBeginning_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="mgic_AccumulatedDepreciationAtBeginning_lbl0" xml:lang="en-US">Accumulated depreciation at ending</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedDepreciationAtBeginning" xlink:to="mgic_AccumulatedDepreciationAtBeginning_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_GoodwillandOtherIntangibleAssetCost" xlink:href="mgic-20221231.xsd#mgic_GoodwillandOtherIntangibleAssetCost"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="mgic_GoodwillandOtherIntangibleAssetCost_lbl" xml:lang="en-US">Beginning balance, Cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_GoodwillandOtherIntangibleAssetCost" xlink:to="mgic_GoodwillandOtherIntangibleAssetCost_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="mgic_GoodwillandOtherIntangibleAssetCost_lbl0" xml:lang="en-US">Ending balance, Cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_GoodwillandOtherIntangibleAssetCost" xlink:to="mgic_GoodwillandOtherIntangibleAssetCost_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_AccumulatedAmortizationAndImpairment" xlink:href="mgic-20221231.xsd#mgic_AccumulatedAmortizationAndImpairment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="mgic_AccumulatedAmortizationAndImpairment_lbl" xml:lang="en-US">Beginning balance, Accumulated amortization and impairment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedAmortizationAndImpairment" xlink:to="mgic_AccumulatedAmortizationAndImpairment_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="mgic_AccumulatedAmortizationAndImpairment_lbl0" xml:lang="en-US">Ending balance, Accumulated amortization and impairment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedAmortizationAndImpairment" xlink:to="mgic_AccumulatedAmortizationAndImpairment_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis_lbl" xml:lang="en-US">Classes of intangible assets other than goodwill [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis" xlink:to="ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EstimatedFutureAmortizationExpenses" xlink:href="mgic-20221231.xsd#mgic_EstimatedFutureAmortizationExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="mgic_EstimatedFutureAmortizationExpenses_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EstimatedFutureAmortizationExpenses" xlink:to="mgic_EstimatedFutureAmortizationExpenses_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfGoodwillTextBlockAbstract" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfGoodwillTextBlockAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisclosureOfGoodwillTextBlockAbstract_lbl" xml:lang="en-US">Disclosure Of Goodwill Text Block [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfGoodwillTextBlockAbstract" xlink:to="mgic_DisclosureOfGoodwillTextBlockAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IntangibleAssetsOtherThanGoodwill"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwill_lbl" xml:lang="en-US">Beginning balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:to="ifrs-full_IntangibleAssetsOtherThanGoodwill_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwill_lbl0" xml:lang="en-US">Ending balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:to="ifrs-full_IntangibleAssetsOtherThanGoodwill_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProductsAndServicesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProductsAndServicesAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProductsAndServicesAxis_lbl" xml:lang="en-US">Products and services [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProductsAndServicesAxis" xlink:to="ifrs-full_ProductsAndServicesAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShortTermDebtsTypeAxis" xlink:href="mgic-20221231.xsd#mgic_ShortTermDebtsTypeAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ShortTermDebtsTypeAxis_lbl" xml:lang="en-US">ShortTermDebtsType [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShortTermDebtsTypeAxis" xlink:to="mgic_ShortTermDebtsTypeAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DescriptionOfAccountingPolicyForTradeAndOtherPayablesTextBlockAbstract" xlink:href="mgic-20221231.xsd#mgic_DescriptionOfAccountingPolicyForTradeAndOtherPayablesTextBlockAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DescriptionOfAccountingPolicyForTradeAndOtherPayablesTextBlockAbstract_lbl" xml:lang="en-US">Other Accounts Payable [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DescriptionOfAccountingPolicyForTradeAndOtherPayablesTextBlockAbstract" xlink:to="mgic_DescriptionOfAccountingPolicyForTradeAndOtherPayablesTextBlockAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfOtherAccountsPayableAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfOtherAccountsPayableAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfOtherAccountsPayableAbstract_lbl" xml:lang="en-US">Schedule of other accounts payable [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfOtherAccountsPayableAbstract" xlink:to="mgic_ScheduleOfOtherAccountsPayableAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentFinancialAssetsAtAmortisedCost" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncurrentFinancialAssetsAtAmortisedCost"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NoncurrentFinancialAssetsAtAmortisedCost_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentFinancialAssetsAtAmortisedCost" xlink:to="ifrs-full_NoncurrentFinancialAssetsAtAmortisedCost_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfOtherNonCurrentAssetsTextBlockAbstract" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfOtherNonCurrentAssetsTextBlockAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisclosureOfOtherNonCurrentAssetsTextBlockAbstract_lbl" xml:lang="en-US">Long Term Debts [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfOtherNonCurrentAssetsTextBlockAbstract" xlink:to="mgic_DisclosureOfOtherNonCurrentAssetsTextBlockAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LongTermDebtAxis" xlink:href="mgic-20221231.xsd#mgic_LongTermDebtAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LongTermDebtAxis_lbl" xml:lang="en-US">Long Term Debt [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LongTermDebtAxis" xlink:to="mgic_LongTermDebtAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LongTermDebtMaturitiesYear" xlink:href="mgic-20221231.xsd#mgic_LongTermDebtMaturitiesYear"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="mgic_LongTermDebtMaturitiesYear_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LongTermDebtMaturitiesYear" xlink:to="mgic_LongTermDebtMaturitiesYear_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_MaturityAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_MaturityAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MaturityAxis_lbl" xml:lang="en-US">Maturity [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_MaturityAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashOutflowForLeases" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashOutflowForLeases"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashOutflowForLeases_lbl" xml:lang="en-US">Total cash outflow for leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashOutflowForLeases" xlink:to="ifrs-full_CashOutflowForLeases_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_lbl" xml:lang="en-US">Carrying amount, accumulated depreciation, amortisation and impairment and gross carrying amount [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_TypesOfSharebasedPaymentArrangementsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis_lbl" xml:lang="en-US">Types of share-based payment arrangements [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:to="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NumberOfOutstandingShareOptions" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NumberOfOutstandingShareOptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_NumberOfOutstandingShareOptions_lbl" xml:lang="en-US">Number of options, Outstanding Beginning</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfOutstandingShareOptions" xlink:to="ifrs-full_NumberOfOutstandingShareOptions_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_NumberOfOutstandingShareOptions_lbl0" xml:lang="en-US">Number of options, Outstanding Ending</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfOutstandingShareOptions" xlink:to="ifrs-full_NumberOfOutstandingShareOptions_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_lbl" xml:lang="en-US">Weighted average exercise price, Outstanding Beginning</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_lbl0" xml:lang="en-US">Weighted average exercise price, Outstanding Ending</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding" xlink:href="mgic-20221231.xsd#mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding_lbl" xml:lang="en-US">Aggregate intrinsic value, Outstanding Beginning</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding" xlink:to="mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding_lbl0" xml:lang="en-US">Aggregate intrinsic value, Outstanding Ending</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding" xlink:to="mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfCommitmentsAndContingentLiabilitiesTextBlockAbstract" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfCommitmentsAndContingentLiabilitiesTextBlockAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisclosureOfCommitmentsAndContingentLiabilitiesTextBlockAbstract_lbl" xml:lang="en-US">Disclosure Of Commitments And Contingent Liabilities Text Block [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfCommitmentsAndContingentLiabilitiesTextBlockAbstract" xlink:to="mgic_DisclosureOfCommitmentsAndContingentLiabilitiesTextBlockAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_lbl" xml:lang="en-US">Total other comprehensive income (loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:to="ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfIncomeTaxTextBlockAbstract" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfIncomeTaxTextBlockAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisclosureOfIncomeTaxTextBlockAbstract_lbl" xml:lang="en-US">Income Tax [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfIncomeTaxTextBlockAbstract" xlink:to="mgic_DisclosureOfIncomeTaxTextBlockAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfPresentationInTheConsolidatedStatementsOfFinancialPositionAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfPresentationInTheConsolidatedStatementsOfFinancialPositionAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfPresentationInTheConsolidatedStatementsOfFinancialPositionAbstract_lbl" xml:lang="en-US">Schedule of presentation in the consolidated statements of financial position [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfPresentationInTheConsolidatedStatementsOfFinancialPositionAbstract" xlink:to="mgic_ScheduleOfPresentationInTheConsolidatedStatementsOfFinancialPositionAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfCompositionOfDeferredTaxesAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfCompositionOfDeferredTaxesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfCompositionOfDeferredTaxesAbstract_lbl" xml:lang="en-US">Schedule of composition of deferred taxes [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfCompositionOfDeferredTaxesAbstract" xlink:to="mgic_ScheduleOfCompositionOfDeferredTaxesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfIncomeTaxAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfIncomeTaxAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfIncomeTaxAbstract_lbl" xml:lang="en-US">Schedule of income tax [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfIncomeTaxAbstract" xlink:to="mgic_ScheduleOfIncomeTaxAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfTheoreticalTaxExpenseAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfTheoreticalTaxExpenseAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfTheoreticalTaxExpenseAbstract_lbl" xml:lang="en-US">Schedule of theoretical tax expense [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfTheoreticalTaxExpenseAbstract" xlink:to="mgic_ScheduleOfTheoreticalTaxExpenseAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfRevenueTextBlockAbstract" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfRevenueTextBlockAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisclosureOfRevenueTextBlockAbstract_lbl" xml:lang="en-US">Revenue Recognition [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfRevenueTextBlockAbstract" xlink:to="mgic_DisclosureOfRevenueTextBlockAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ResearchAndDevelopmentExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ResearchAndDevelopmentExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ResearchAndDevelopmentExpense_lbl" xml:lang="en-US">Research and development, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ResearchAndDevelopmentExpense" xlink:to="ifrs-full_ResearchAndDevelopmentExpense_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ResearchAndDevelopmentExpense_lbl0" xml:lang="en-US">Research and development expenses, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ResearchAndDevelopmentExpense" xlink:to="ifrs-full_ResearchAndDevelopmentExpense_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_SalesAndMarketingExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_SalesAndMarketingExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_SalesAndMarketingExpense_lbl" xml:lang="en-US">Total selling and marketing expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SalesAndMarketingExpense" xlink:to="ifrs-full_SalesAndMarketingExpense_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SalesAndMarketingExpense_lbl0" xml:lang="en-US">Selling and marketing expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SalesAndMarketingExpense" xlink:to="ifrs-full_SalesAndMarketingExpense_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_SalesAndMarketingExpense_lbl1" xml:lang="en-US">Selling, marketing expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SalesAndMarketingExpense" xlink:to="ifrs-full_SalesAndMarketingExpense_lbl1"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AttributionOfExpensesByNatureToTheirFunctionAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AttributionOfExpensesByNatureToTheirFunctionAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AttributionOfExpensesByNatureToTheirFunctionAxis_lbl" xml:lang="en-US">Attribution of expenses by nature to their function [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AttributionOfExpensesByNatureToTheirFunctionAxis" xlink:to="ifrs-full_AttributionOfExpensesByNatureToTheirFunctionAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_GeneralAndAdministrativeExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_GeneralAndAdministrativeExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_GeneralAndAdministrativeExpense_lbl" xml:lang="en-US">Total general and administrative expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GeneralAndAdministrativeExpense" xlink:to="ifrs-full_GeneralAndAdministrativeExpense_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GeneralAndAdministrativeExpense_lbl0" xml:lang="en-US">General and administrative expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GeneralAndAdministrativeExpense" xlink:to="ifrs-full_GeneralAndAdministrativeExpense_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherRevenue" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherRevenue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherRevenue_lbl" xml:lang="en-US">Total revenues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherRevenue" xlink:to="ifrs-full_OtherRevenue_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_SegmentsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_SegmentsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SegmentsAxis_lbl" xml:lang="en-US">Segments [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SegmentsAxis" xlink:to="ifrs-full_SegmentsAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="srt_StatementGeographicalAxis" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_StatementGeographicalAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_StatementGeographicalAxis_lbl" xml:lang="en-US">Geographical [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_StatementGeographicalAxis" xlink:to="srt_StatementGeographicalAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccountingStandardsAxis" xlink:href="mgic-20221231.xsd#mgic_AccountingStandardsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AccountingStandardsAxis_lbl" xml:lang="en-US">Accounting Standards [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccountingStandardsAxis" xlink:to="mgic_AccountingStandardsAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentType" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentType"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentType_lbl" xml:lang="en-US">Document Type</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentRegistrationStatement" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentRegistrationStatement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentRegistrationStatement_lbl" xml:lang="en-US">Document Registration Statement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentRegistrationStatement" xlink:to="dei_DocumentRegistrationStatement_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentAnnualReport" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentAnnualReport"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentAnnualReport_lbl" xml:lang="en-US">Document Annual Report</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentAnnualReport" xlink:to="dei_DocumentAnnualReport_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_CurrentFiscalYearEndDate" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_CurrentFiscalYearEndDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US">Current Fiscal Year End Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentPeriodEndDate" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentPeriodEndDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US">Document Period End Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentFiscalYearFocus" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentFiscalYearFocus"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US">Document Fiscal Year Focus</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentTransitionReport" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentTransitionReport"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentTransitionReport_lbl" xml:lang="en-US">Document Transition Report</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentTransitionReport" xlink:to="dei_DocumentTransitionReport_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentShellCompanyReport" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentShellCompanyReport"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentShellCompanyReport_lbl" xml:lang="en-US">Document Shell Company Report</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentShellCompanyReport" xlink:to="dei_DocumentShellCompanyReport_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityFileNumber" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityFileNumber"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityFileNumber_lbl" xml:lang="en-US">Entity File Number</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityRegistrantName" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityRegistrantName"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityIncorporationStateCountryCode" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityIncorporationStateCountryCode"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xml:lang="en-US">Entity Incorporation, State or Country Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityAddressAddressLine1" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressAddressLine1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityAddressAddressLine1_lbl" xml:lang="en-US">Entity Address, Address Line One</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityAddressCityOrTown" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressCityOrTown"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityAddressCityOrTown_lbl" xml:lang="en-US">Entity Address, City or Town</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityAddressPostalZipCode" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressPostalZipCode"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityAddressPostalZipCode_lbl" xml:lang="en-US">Entity Address, Postal Zip Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityAddressCountry" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressCountry"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityAddressCountry_lbl" xml:lang="en-US">Entity Address, Country</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCountry" xlink:to="dei_EntityAddressCountry_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_ContactPersonnelName" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_ContactPersonnelName"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_ContactPersonnelName_lbl" xml:lang="en-US">Contact Personnel Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_ContactPersonnelName" xlink:to="dei_ContactPersonnelName_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_CityAreaCode" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_CityAreaCode"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_CityAreaCode_lbl" xml:lang="en-US">City Area Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_LocalPhoneNumber" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_LocalPhoneNumber"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_LocalPhoneNumber_lbl" xml:lang="en-US">Local Phone Number</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_ContactPersonnelEmailAddress" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_ContactPersonnelEmailAddress"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_ContactPersonnelEmailAddress_lbl" xml:lang="en-US">Contact Personnel Email Address</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_ContactPersonnelEmailAddress" xlink:to="dei_ContactPersonnelEmailAddress_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_Security12bTitle" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_Security12bTitle"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_Security12bTitle_lbl" xml:lang="en-US">Title of 12(b) Security</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_TradingSymbol" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_TradingSymbol"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US">Trading Symbol</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_SecurityExchangeName" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_SecurityExchangeName"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_SecurityExchangeName_lbl" xml:lang="en-US">Security Exchange Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityCommonStockSharesOutstanding" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityCommonStockSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US">Entity Common Stock, Shares Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityWellKnownSeasonedIssuer" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityWellKnownSeasonedIssuer"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xml:lang="en-US">Entity Well-known Seasoned Issuer</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="dei_EntityWellKnownSeasonedIssuer_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityVoluntaryFilers" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityVoluntaryFilers"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityVoluntaryFilers_lbl" xml:lang="en-US">Entity Voluntary Filers</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityVoluntaryFilers" xlink:to="dei_EntityVoluntaryFilers_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityCurrentReportingStatus" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityCurrentReportingStatus"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US">Entity Current Reporting Status</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityInteractiveDataCurrent" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityInteractiveDataCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityInteractiveDataCurrent_lbl" xml:lang="en-US">Entity Interactive Data Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityInteractiveDataCurrent" xlink:to="dei_EntityInteractiveDataCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityFilerCategory" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityFilerCategory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityFilerCategory_lbl" xml:lang="en-US">Entity Filer Category</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityEmergingGrowthCompany" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityEmergingGrowthCompany"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xml:lang="en-US">Entity Emerging Growth Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_IcfrAuditorAttestationFlag" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_IcfrAuditorAttestationFlag"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_IcfrAuditorAttestationFlag_lbl" xml:lang="en-US">ICFR Auditor Attestation Flag</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_IcfrAuditorAttestationFlag" xlink:to="dei_IcfrAuditorAttestationFlag_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentAccountingStandard" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentAccountingStandard"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentAccountingStandard_lbl" xml:lang="en-US">Document Accounting Standard</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentAccountingStandard" xlink:to="dei_DocumentAccountingStandard_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityShellCompany" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityShellCompany"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityShellCompany_lbl" xml:lang="en-US">Entity Shell Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityShellCompany" xlink:to="dei_EntityShellCompany_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_AuditorFirmId" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_AuditorFirmId"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_AuditorFirmId_lbl" xml:lang="en-US">Auditor Firm ID</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditorFirmId" xlink:to="dei_AuditorFirmId_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_AuditorName" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_AuditorName"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_AuditorName_lbl" xml:lang="en-US">Auditor Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditorName" xlink:to="dei_AuditorName_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_AuditorLocation" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_AuditorLocation"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_AuditorLocation_lbl" xml:lang="en-US">Auditor Location</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditorLocation" xlink:to="dei_AuditorLocation_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_AmendmentFlag" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_AmendmentFlag"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US">Amendment Flag</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentFiscalPeriodFocus" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentFiscalPeriodFocus"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US">Document Fiscal Period Focus</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityCentralIndexKey" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityCentralIndexKey"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AssetsAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AssetsAbstract_lbl" xml:lang="en-US">ASSETS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AssetsAbstract" xlink:to="ifrs-full_AssetsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract" xlink:to="mgic_UnlabeledAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentAssetsAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentAssetsAbstract_lbl" xml:lang="en-US">CURRENT ASSETS:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssetsAbstract" xlink:to="ifrs-full_CurrentAssetsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents_lbl" xml:lang="en-US">Short-term bank deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:to="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents_lbl0" xml:lang="en-US">Short-term deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:to="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_TradeAndOtherCurrentReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables_lbl" xml:lang="en-US">Trade receivables (net of allowance for credit losses of $3,967, $5,071 and $5,416 at January 1, 2021, December 31, 2021 and 2022, respectively)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentReceivables" xlink:to="ifrs-full_TradeAndOtherCurrentReceivables_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables_lbl0" xml:lang="en-US">Trade receivables, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentReceivables" xlink:to="ifrs-full_TradeAndOtherCurrentReceivables_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_TradeReceivablesNetOfAllowance" xlink:href="mgic-20221231.xsd#mgic_TradeReceivablesNetOfAllowance"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TradeReceivablesNetOfAllowance_lbl" xml:lang="en-US">Trade receivables, net of allowance (in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TradeReceivablesNetOfAllowance" xlink:to="mgic_TradeReceivablesNetOfAllowance_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherCurrentNonfinancialAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherCurrentNonfinancialAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherCurrentNonfinancialAssets_lbl" xml:lang="en-US">Unbilled receivables and contract assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCurrentNonfinancialAssets" xlink:to="ifrs-full_OtherCurrentNonfinancialAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets_lbl" xml:lang="en-US">Other accounts receivable and prepaid expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets" xlink:to="ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract0" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract0_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract0" xlink:to="mgic_UnlabeledAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentAssetsAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncurrentAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentAssetsAbstract_lbl" xml:lang="en-US">LONG-TERM ASSETS:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssetsAbstract" xlink:to="ifrs-full_NoncurrentAssetsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DeferredTaxAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DeferredTaxAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredTaxAssets_lbl" xml:lang="en-US">Deferred tax assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxAssets" xlink:to="ifrs-full_DeferredTaxAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RightofuseAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RightofuseAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RightofuseAssets_lbl" xml:lang="en-US">Right-of-use assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RightofuseAssets" xlink:to="ifrs-full_RightofuseAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherReceivables_lbl" xml:lang="en-US">Other long-term receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherReceivables" xlink:to="ifrs-full_OtherReceivables_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_OtherReceivables_lbl0" xml:lang="en-US">Other accounts receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherReceivables" xlink:to="ifrs-full_OtherReceivables_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_PropertyPlantAndEquipment" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xml:lang="en-US">Property, plants, and equipment, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipment" xlink:to="ifrs-full_PropertyPlantAndEquipment_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl0" xml:lang="en-US">Property, plants and equipment, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipment" xlink:to="ifrs-full_PropertyPlantAndEquipment_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IntangibleAssetsAndGoodwill"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill_lbl" xml:lang="en-US">Intangible assets, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsAndGoodwill" xlink:to="ifrs-full_IntangibleAssetsAndGoodwill_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_Goodwill" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_Goodwill"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Goodwill_lbl" xml:lang="en-US">Goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Goodwill" xlink:to="ifrs-full_Goodwill_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract1" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract1_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract1" xlink:to="mgic_UnlabeledAbstract1_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_EquityAndLiabilitiesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_EquityAndLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EquityAndLiabilitiesAbstract_lbl" xml:lang="en-US">LIABILITIES AND EQUITY</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAndLiabilitiesAbstract" xlink:to="ifrs-full_EquityAndLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract2" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract2_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract2" xlink:to="mgic_UnlabeledAbstract2_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentLiabilitiesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentLiabilitiesAbstract_lbl" xml:lang="en-US">CURRENT LIABILITIES:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLiabilitiesAbstract" xlink:to="ifrs-full_CurrentLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ShorttermBorrowings" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ShorttermBorrowings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ShorttermBorrowings_lbl" xml:lang="en-US">Short term debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShorttermBorrowings" xlink:to="ifrs-full_ShorttermBorrowings_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TradeAndOtherPayablesToTradeSuppliers" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_TradeAndOtherPayablesToTradeSuppliers"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TradeAndOtherPayablesToTradeSuppliers_lbl" xml:lang="en-US">Trade payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherPayablesToTradeSuppliers" xlink:to="ifrs-full_TradeAndOtherPayablesToTradeSuppliers_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities_lbl" xml:lang="en-US">Accrued expenses and other accounts payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities" xlink:to="ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentLeaseLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentLeaseLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentLeaseLiabilities_lbl" xml:lang="en-US">Current maturities of lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLeaseLiabilities" xlink:to="ifrs-full_CurrentLeaseLiabilities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_CurrentLeaseLiabilities_lbl0" xml:lang="en-US">Current maturities of operating lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLeaseLiabilities" xlink:to="ifrs-full_CurrentLeaseLiabilities_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_PutOptionsOfNoncontrollingInterestsCurrent" xlink:href="mgic-20221231.xsd#mgic_PutOptionsOfNoncontrollingInterestsCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_PutOptionsOfNoncontrollingInterestsCurrent_lbl" xml:lang="en-US">Put options of non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PutOptionsOfNoncontrollingInterestsCurrent" xlink:to="mgic_PutOptionsOfNoncontrollingInterestsCurrent_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mgic_PutOptionsOfNoncontrollingInterestsCurrent_lbl0" xml:lang="en-US">Redeemable non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PutOptionsOfNoncontrollingInterestsCurrent" xlink:to="mgic_PutOptionsOfNoncontrollingInterestsCurrent_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_LiabilityInRespectOfBusinessCombinationsCurrent" xlink:href="mgic-20221231.xsd#mgic_LiabilityInRespectOfBusinessCombinationsCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LiabilityInRespectOfBusinessCombinationsCurrent_lbl" xml:lang="en-US">Liability in respect of business combinations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LiabilityInRespectOfBusinessCombinationsCurrent" xlink:to="mgic_LiabilityInRespectOfBusinessCombinationsCurrent_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mgic_LiabilityInRespectOfBusinessCombinationsCurrent_lbl0" xml:lang="en-US">Liabilities in respect of business combinations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LiabilityInRespectOfBusinessCombinationsCurrent" xlink:to="mgic_LiabilityInRespectOfBusinessCombinationsCurrent_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentDerivativeFinancialLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentDerivativeFinancialLiabilities_lbl" xml:lang="en-US">Deferred revenues and customer advances</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:to="ifrs-full_CurrentDerivativeFinancialLiabilities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_CurrentDerivativeFinancialLiabilities_lbl0" xml:lang="en-US">Deferred revenue and customer advances</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:to="ifrs-full_CurrentDerivativeFinancialLiabilities_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract3" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract3"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract3_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract3" xlink:to="mgic_UnlabeledAbstract3_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract4" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract4"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract4_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract4" xlink:to="mgic_UnlabeledAbstract4_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentLiabilitiesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncurrentLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentLiabilitiesAbstract_lbl" xml:lang="en-US">LONG-TERM LIABILITIES:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLiabilitiesAbstract" xlink:to="ifrs-full_NoncurrentLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LongtermBorrowings" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LongtermBorrowings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LongtermBorrowings_lbl" xml:lang="en-US">Long-term debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LongtermBorrowings" xlink:to="ifrs-full_LongtermBorrowings_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentLeaseLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncurrentLeaseLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentLeaseLiabilities_lbl" xml:lang="en-US">Long-term lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLeaseLiabilities" xlink:to="ifrs-full_NoncurrentLeaseLiabilities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NoncurrentLeaseLiabilities_lbl0" xml:lang="en-US">Long-term operating lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLeaseLiabilities" xlink:to="ifrs-full_NoncurrentLeaseLiabilities_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent" xlink:href="mgic-20221231.xsd#mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent_lbl" xml:lang="en-US">Liability in respect of business combinations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent" xlink:to="mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DeferredTaxLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DeferredTaxLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredTaxLiabilities_lbl" xml:lang="en-US">Deferred tax liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilities" xlink:to="ifrs-full_DeferredTaxLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PutOptionsOfNoncontrollingInterestsNoncurrent" xlink:href="mgic-20221231.xsd#mgic_PutOptionsOfNoncontrollingInterestsNoncurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_PutOptionsOfNoncontrollingInterestsNoncurrent_lbl" xml:lang="en-US">Put options of non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PutOptionsOfNoncontrollingInterestsNoncurrent" xlink:to="mgic_PutOptionsOfNoncontrollingInterestsNoncurrent_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mgic_PutOptionsOfNoncontrollingInterestsNoncurrent_lbl0" xml:lang="en-US">Redeemable non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PutOptionsOfNoncontrollingInterestsNoncurrent" xlink:to="mgic_PutOptionsOfNoncontrollingInterestsNoncurrent_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherNoncurrentLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherNoncurrentLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherNoncurrentLiabilities_lbl" xml:lang="en-US">Accrued severance pay, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNoncurrentLiabilities" xlink:to="ifrs-full_OtherNoncurrentLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract5" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract5"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract5_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract5" xlink:to="mgic_UnlabeledAbstract5_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract6" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract6"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract6_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract6" xlink:to="mgic_UnlabeledAbstract6_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CommitmentsAndContingencies1" xlink:href="mgic-20221231.xsd#mgic_CommitmentsAndContingencies1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CommitmentsAndContingencies1_lbl" xml:lang="en-US">COMMITMENTS AND CONTINGENCIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CommitmentsAndContingencies1" xlink:to="mgic_CommitmentsAndContingencies1_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract7" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract7"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract7_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract7" xlink:to="mgic_UnlabeledAbstract7_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_EquityAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_EquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EquityAbstract_lbl" xml:lang="en-US">EQUITY</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAbstract" xlink:to="ifrs-full_EquityAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_MagicSoftwareEnterprisesLtdShareholdersEquityAbstract" xlink:href="mgic-20221231.xsd#mgic_MagicSoftwareEnterprisesLtdShareholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_MagicSoftwareEnterprisesLtdShareholdersEquityAbstract_lbl" xml:lang="en-US">MAGIC SOFTWARE ENTERPRISES LTD shareholders&#8217; equity:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_MagicSoftwareEnterprisesLtdShareholdersEquityAbstract" xlink:to="mgic_MagicSoftwareEnterprisesLtdShareholdersEquityAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareCapitalAbstract" xlink:href="mgic-20221231.xsd#mgic_ShareCapitalAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ShareCapitalAbstract_lbl" xml:lang="en-US">Share capital:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareCapitalAbstract" xlink:to="mgic_ShareCapitalAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IssuedCapital" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IssuedCapital"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IssuedCapital_lbl" xml:lang="en-US">Ordinary shares of NIS 0.1 par value - Authorized: 50,000,000 shares at January 1, 2021, December 31, 2021 and 2022; Issued and Outstanding: 49,035,055, 49,073,055 and 49,093,055 shares at January 1, December 31, 2021 and 2022, respectively</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssuedCapital" xlink:to="ifrs-full_IssuedCapital_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_IssuedCapital_lbl0" xml:lang="en-US">Share capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssuedCapital" xlink:to="ifrs-full_IssuedCapital_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_OrdinarySharesParValue" xlink:href="mgic-20221231.xsd#mgic_OrdinarySharesParValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_OrdinarySharesParValue_lbl" xml:lang="en-US">Ordinary shares, par value (in New Shekels per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OrdinarySharesParValue" xlink:to="mgic_OrdinarySharesParValue_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OrdinarySharesSharesAuthorized" xlink:href="mgic-20221231.xsd#mgic_OrdinarySharesSharesAuthorized"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_OrdinarySharesSharesAuthorized_lbl" xml:lang="en-US">Ordinary shares, shares authorized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OrdinarySharesSharesAuthorized" xlink:to="mgic_OrdinarySharesSharesAuthorized_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OrdinarySharesSharesIssued" xlink:href="mgic-20221231.xsd#mgic_OrdinarySharesSharesIssued"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_OrdinarySharesSharesIssued_lbl" xml:lang="en-US">Ordinary shares, shares issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OrdinarySharesSharesIssued" xlink:to="mgic_OrdinarySharesSharesIssued_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OrdinarySharesSharesOutstanding" xlink:href="mgic-20221231.xsd#mgic_OrdinarySharesSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_OrdinarySharesSharesOutstanding_lbl" xml:lang="en-US">Ordinary shares, shares outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OrdinarySharesSharesOutstanding" xlink:to="mgic_OrdinarySharesSharesOutstanding_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdditionalPaidinCapital" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdditionalPaidinCapital"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdditionalPaidinCapital_lbl" xml:lang="en-US">Additional paid-in capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionalPaidinCapital" xlink:to="ifrs-full_AdditionalPaidinCapital_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncome" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AccumulatedOtherComprehensiveIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncome_lbl" xml:lang="en-US">Accumulated other comprehensive income (loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedOtherComprehensiveIncome" xlink:to="ifrs-full_AccumulatedOtherComprehensiveIncome_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncome_lbl0" xml:lang="en-US">Accumulated other comprehensive loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedOtherComprehensiveIncome" xlink:to="ifrs-full_AccumulatedOtherComprehensiveIncome_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RetainedEarnings" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RetainedEarnings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RetainedEarnings_lbl" xml:lang="en-US">Retained earnings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RetainedEarnings" xlink:to="ifrs-full_RetainedEarnings_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_RetainedEarnings_lbl0" xml:lang="en-US">Accumulated earnings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RetainedEarnings" xlink:to="ifrs-full_RetainedEarnings_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract8" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract8"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract8_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract8" xlink:to="mgic_UnlabeledAbstract8_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncontrollingInterests" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncontrollingInterests_lbl" xml:lang="en-US">Non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncontrollingInterests" xlink:to="ifrs-full_NoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract9" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract9"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract9_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract9" xlink:to="mgic_UnlabeledAbstract9_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract10" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract10"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract10_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract10" xlink:to="mgic_UnlabeledAbstract10_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RevenueAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RevenueAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RevenueAbstract_lbl" xml:lang="en-US">Revenues:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueAbstract" xlink:to="ifrs-full_RevenueAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_RevenueAbstract_lbl0" xml:lang="en-US">Revenues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueAbstract" xlink:to="ifrs-full_RevenueAbstract_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RevenueFromRenderingOfServices" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RevenueFromRenderingOfServices"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RevenueFromRenderingOfServices_lbl" xml:lang="en-US">Software services</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromRenderingOfServices" xlink:to="ifrs-full_RevenueFromRenderingOfServices_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RevenueFromRenderingOfInformationTechnologyMaintenanceAndSupportServices" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RevenueFromRenderingOfInformationTechnologyMaintenanceAndSupportServices"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RevenueFromRenderingOfInformationTechnologyMaintenanceAndSupportServices_lbl" xml:lang="en-US">Maintenance and technical support</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromRenderingOfInformationTechnologyMaintenanceAndSupportServices" xlink:to="ifrs-full_RevenueFromRenderingOfInformationTechnologyMaintenanceAndSupportServices_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RevenueFromRenderingOfInformationTechnologyConsultingServices" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RevenueFromRenderingOfInformationTechnologyConsultingServices"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RevenueFromRenderingOfInformationTechnologyConsultingServices_lbl" xml:lang="en-US">Consulting services</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromRenderingOfInformationTechnologyConsultingServices" xlink:to="ifrs-full_RevenueFromRenderingOfInformationTechnologyConsultingServices_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract11" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract11"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract11_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract11" xlink:to="mgic_UnlabeledAbstract11_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract12" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract12"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract12_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract12" xlink:to="mgic_UnlabeledAbstract12_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostofRevenueAbstract" xlink:href="mgic-20221231.xsd#mgic_CostofRevenueAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostofRevenueAbstract_lbl" xml:lang="en-US">Cost of revenues:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostofRevenueAbstract" xlink:to="mgic_CostofRevenueAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostOfSoftware" xlink:href="mgic-20221231.xsd#mgic_CostOfSoftware"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostOfSoftware_lbl" xml:lang="en-US">Software services</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostOfSoftware" xlink:to="mgic_CostOfSoftware_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostOfMaintenanceAndTechnicalSupport" xlink:href="mgic-20221231.xsd#mgic_CostOfMaintenanceAndTechnicalSupport"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostOfMaintenanceAndTechnicalSupport_lbl" xml:lang="en-US">Maintenance and technical support</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostOfMaintenanceAndTechnicalSupport" xlink:to="mgic_CostOfMaintenanceAndTechnicalSupport_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostOfConsultingServices" xlink:href="mgic-20221231.xsd#mgic_CostOfConsultingServices"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostOfConsultingServices_lbl" xml:lang="en-US">Consulting services</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostOfConsultingServices" xlink:to="mgic_CostOfConsultingServices_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract13" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract13"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract13_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract13" xlink:to="mgic_UnlabeledAbstract13_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract14" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract14"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract14_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract14" xlink:to="mgic_UnlabeledAbstract14_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_GrossProfit" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_GrossProfit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_GrossProfit_lbl" xml:lang="en-US">Gross profit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossProfit" xlink:to="ifrs-full_GrossProfit_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GrossProfit_lbl0" xml:lang="en-US">Gross profit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossProfit" xlink:to="ifrs-full_GrossProfit_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract15" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract15"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract15_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract15" xlink:to="mgic_UnlabeledAbstract15_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract16" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract16"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract16_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract16" xlink:to="mgic_UnlabeledAbstract16_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherOperatingIncomeExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherOperatingIncomeExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherOperatingIncomeExpense_lbl" xml:lang="en-US">Operating income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherOperatingIncomeExpense" xlink:to="ifrs-full_OtherOperatingIncomeExpense_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherOperatingIncomeExpense_lbl0" xml:lang="en-US">Operating income (loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherOperatingIncomeExpense" xlink:to="ifrs-full_OtherOperatingIncomeExpense_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_OtherOperatingIncomeExpense_lbl1" xml:lang="en-US">Operating income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherOperatingIncomeExpense" xlink:to="ifrs-full_OtherOperatingIncomeExpense_lbl1"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract17" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract17"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract17_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract17" xlink:to="mgic_UnlabeledAbstract17_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_FinanceIncomeCost" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinanceIncomeCost"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinanceIncomeCost_lbl" xml:lang="en-US">Financial expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceIncomeCost" xlink:to="ifrs-full_FinanceIncomeCost_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_FinanceIncome" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinanceIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinanceIncome_lbl" xml:lang="en-US">Financial income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceIncome" xlink:to="ifrs-full_FinanceIncome_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_FinanceIncome_lbl0" xml:lang="en-US">Total Financial income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceIncome" xlink:to="ifrs-full_FinanceIncome_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions" xlink:href="mgic-20221231.xsd#mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions_lbl" xml:lang="en-US">Increase in valuation of consideration related to acquisitions)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions" xlink:to="mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions_lbl0" xml:lang="en-US">Increase in valuation of consideration related to acquisitions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions" xlink:to="mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract18" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract18"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract18_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract18" xlink:to="mgic_UnlabeledAbstract18_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent_lbl" xml:lang="en-US">Income before taxes on income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent" xlink:to="ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent_lbl0" xml:lang="en-US">Income before taxes on income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent" xlink:to="ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract19" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract19"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract19_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract19" xlink:to="mgic_UnlabeledAbstract19_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl" xml:lang="en-US">Taxes on income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:to="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract20" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract20"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract20_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract20" xlink:to="mgic_UnlabeledAbstract20_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract21" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract21"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract21_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract21" xlink:to="mgic_UnlabeledAbstract21_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ComprehensiveIncomeAttributableToAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract_lbl" xml:lang="en-US">Attributable to:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract_lbl0" xml:lang="en-US">Total comprehensive income attributable to:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToAbstract_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProfitLossAttributableToOwnersOfParent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl" xml:lang="en-US">Equity holders of the Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:to="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProfitLossAttributableToNoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_lbl" xml:lang="en-US">Non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:to="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract22" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract22"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract22_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract22" xlink:to="mgic_UnlabeledAbstract22_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract23" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract23"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract23_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract23" xlink:to="mgic_UnlabeledAbstract23_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_NetEarningsPerShareAttributableToEquityHoldersOfTheCompanyAbstract" xlink:href="mgic-20221231.xsd#mgic_NetEarningsPerShareAttributableToEquityHoldersOfTheCompanyAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_NetEarningsPerShareAttributableToEquityHoldersOfTheCompanyAbstract_lbl" xml:lang="en-US">Net earnings per share attributable to equity holders of The Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetEarningsPerShareAttributableToEquityHoldersOfTheCompanyAbstract" xlink:to="mgic_NetEarningsPerShareAttributableToEquityHoldersOfTheCompanyAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract24" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract24"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract24_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract24" xlink:to="mgic_UnlabeledAbstract24_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BasicEarningsLossPerShare" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_BasicEarningsLossPerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BasicEarningsLossPerShare_lbl" xml:lang="en-US">Basic and diluted earnings per share (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BasicEarningsLossPerShare" xlink:to="ifrs-full_BasicEarningsLossPerShare_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_BasicEarningsLossPerShare_lbl0" xml:lang="en-US">Basic and diluted net earnings per share (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BasicEarningsLossPerShare" xlink:to="ifrs-full_BasicEarningsLossPerShare_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DilutedEarningsLossPerShare" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DilutedEarningsLossPerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DilutedEarningsLossPerShare_lbl" xml:lang="en-US">Diluted earnings per share (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DilutedEarningsLossPerShare" xlink:to="ifrs-full_DilutedEarningsLossPerShare_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract25" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract25"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract25_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract25" xlink:to="mgic_UnlabeledAbstract25_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherComprehensiveIncomeAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherComprehensiveIncomeAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeAbstract_lbl" xml:lang="en-US">Other comprehensive income (loss) net of tax effect:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeAbstract" xlink:to="ifrs-full_OtherComprehensiveIncomeAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract26" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract26"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract26_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract26" xlink:to="mgic_UnlabeledAbstract26_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AmountsThatWillBeOrThatHaveBeenReclassifiedToProfitOrLossWhenSpecificConditionsAreMetAbstract" xlink:href="mgic-20221231.xsd#mgic_AmountsThatWillBeOrThatHaveBeenReclassifiedToProfitOrLossWhenSpecificConditionsAreMetAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AmountsThatWillBeOrThatHaveBeenReclassifiedToProfitOrLossWhenSpecificConditionsAreMetAbstract_lbl" xml:lang="en-US">Amounts that will be or that have been reclassified to profit or loss when specific conditions are met:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AmountsThatWillBeOrThatHaveBeenReclassifiedToProfitOrLossWhenSpecificConditionsAreMetAbstract" xlink:to="mgic_AmountsThatWillBeOrThatHaveBeenReclassifiedToProfitOrLossWhenSpecificConditionsAreMetAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract27" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract27"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract27_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract27" xlink:to="mgic_UnlabeledAbstract27_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_lbl" xml:lang="en-US">Foreign exchange differences on translation of foreign operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:to="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract28" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract28"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract28_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract28" xlink:to="mgic_UnlabeledAbstract28_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract29" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract29"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract29_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract29" xlink:to="mgic_UnlabeledAbstract29_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract30" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract30"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract30_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract30" xlink:to="mgic_UnlabeledAbstract30_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherComprehensiveIncomeAttributableToOwnersOfParent" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherComprehensiveIncomeAttributableToOwnersOfParent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeAttributableToOwnersOfParent_lbl" xml:lang="en-US">Equity holders of the Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeAttributableToOwnersOfParent" xlink:to="ifrs-full_OtherComprehensiveIncomeAttributableToOwnersOfParent_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests_lbl" xml:lang="en-US">Non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract31" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract31"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract31_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract31" xlink:to="mgic_UnlabeledAbstract31_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract32" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract32"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract32_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract32" xlink:to="mgic_UnlabeledAbstract32_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract33" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract33"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract33_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract33" xlink:to="mgic_UnlabeledAbstract33_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract34" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract34"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract34_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract34" xlink:to="mgic_UnlabeledAbstract34_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract35" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract35"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract35_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract35" xlink:to="mgic_UnlabeledAbstract35_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IncreaseDecreaseThroughExerciseOfOptions" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IncreaseDecreaseThroughExerciseOfOptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncreaseDecreaseThroughExerciseOfOptions_lbl" xml:lang="en-US">Exercise of options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughExerciseOfOptions" xlink:to="ifrs-full_IncreaseDecreaseThroughExerciseOfOptions_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ExerciseOfOptions" xlink:href="mgic-20221231.xsd#mgic_ExerciseOfOptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ExerciseOfOptions_lbl" xml:lang="en-US">Exercise of options (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ExerciseOfOptions" xlink:to="mgic_ExerciseOfOptions_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DividendToMagicsShareholders" xlink:href="mgic-20221231.xsd#mgic_DividendToMagicsShareholders"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DividendToMagicsShareholders_lbl" xml:lang="en-US">Dividend to Magic&#8217;s shareholders</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DividendToMagicsShareholders" xlink:to="mgic_DividendToMagicsShareholders_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DividendToNoncontrollingInterestsInSubsidiaries" xlink:href="mgic-20221231.xsd#mgic_DividendToNoncontrollingInterestsInSubsidiaries"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DividendToNoncontrollingInterestsInSubsidiaries_lbl" xml:lang="en-US">Dividend to non-controlling interests in subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DividendToNoncontrollingInterestsInSubsidiaries" xlink:to="mgic_DividendToNoncontrollingInterestsInSubsidiaries_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions_lbl" xml:lang="en-US">Cost of share-based payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions" xlink:to="ifrs-full_DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AcquisitionOfRedeemableNoncontrollingInterests" xlink:href="mgic-20221231.xsd#mgic_AcquisitionOfRedeemableNoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AcquisitionOfRedeemableNoncontrollingInterests_lbl" xml:lang="en-US">Acquisition of redeemable non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquisitionOfRedeemableNoncontrollingInterests" xlink:to="mgic_AcquisitionOfRedeemableNoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SettlementOfPutOptionsOverNoncontrollingInterest" xlink:href="mgic-20221231.xsd#mgic_SettlementOfPutOptionsOverNoncontrollingInterest"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_SettlementOfPutOptionsOverNoncontrollingInterest_lbl" xml:lang="en-US">Settlement of put options over non-controlling interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SettlementOfPutOptionsOverNoncontrollingInterest" xlink:to="mgic_SettlementOfPutOptionsOverNoncontrollingInterest_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract36" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract36"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract36_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract36" xlink:to="mgic_UnlabeledAbstract36_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract37" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract37"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract37_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract37" xlink:to="mgic_UnlabeledAbstract37_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract38" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract38"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract38_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract38" xlink:to="mgic_UnlabeledAbstract38_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract39" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract39"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract39_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract39" xlink:to="mgic_UnlabeledAbstract39_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract40" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract40"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract40_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract40" xlink:to="mgic_UnlabeledAbstract40_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AcquisitionOfSubsidiaries" xlink:href="mgic-20221231.xsd#mgic_AcquisitionOfSubsidiaries"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AcquisitionOfSubsidiaries_lbl" xml:lang="en-US">Acquisition of subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquisitionOfSubsidiaries" xlink:to="mgic_AcquisitionOfSubsidiaries_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract41" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract41"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract41_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract41" xlink:to="mgic_UnlabeledAbstract41_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from operating activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract42" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract42"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract42_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract42" xlink:to="mgic_UnlabeledAbstract42_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract" xlink:href="mgic-20221231.xsd#mgic_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract_lbl" xml:lang="en-US">Adjustments to reconcile net income to net cash provided by operating activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract" xlink:to="mgic_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense_lbl" xml:lang="en-US">Depreciation and amortization</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:to="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForSharebasedPayments" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdjustmentsForSharebasedPayments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForSharebasedPayments_lbl" xml:lang="en-US">Cost of share-based payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForSharebasedPayments" xlink:to="ifrs-full_AdjustmentsForSharebasedPayments_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_AdjustmentsForSharebasedPayments_lbl0" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForSharebasedPayments" xlink:to="ifrs-full_AdjustmentsForSharebasedPayments_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_EffectOfExchangeRateOnOfCashAndCashEquivalentsHeldInCurrenciesOtherThanTheFunctio" xlink:href="mgic-20221231.xsd#mgic_EffectOfExchangeRateOnOfCashAndCashEquivalentsHeldInCurrenciesOtherThanTheFunctio"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_EffectOfExchangeRateOnOfCashAndCashEquivalentsHeldInCurrenciesOtherThanTheFunctio_lbl" xml:lang="en-US">Effect of exchange rate on of cash and cash equivalents held in currencies other than the functional currency</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EffectOfExchangeRateOnOfCashAndCashEquivalentsHeldInCurrenciesOtherThanTheFunctio" xlink:to="mgic_EffectOfExchangeRateOnOfCashAndCashEquivalentsHeldInCurrenciesOtherThanTheFunctio_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AmortizationOfPremiumAndAccruedInterestOnDebtInstrumentsAtFairValueThroughOtherCo" xlink:href="mgic-20221231.xsd#mgic_AmortizationOfPremiumAndAccruedInterestOnDebtInstrumentsAtFairValueThroughOtherCo"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AmortizationOfPremiumAndAccruedInterestOnDebtInstrumentsAtFairValueThroughOtherCo_lbl" xml:lang="en-US">Amortization of premium and accrued interest on debt instruments at fair value through other comprehensive income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AmortizationOfPremiumAndAccruedInterestOnDebtInstrumentsAtFairValueThroughOtherCo" xlink:to="mgic_AmortizationOfPremiumAndAccruedInterestOnDebtInstrumentsAtFairValueThroughOtherCo_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract43" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract43"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract43_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract43" xlink:to="mgic_UnlabeledAbstract43_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_WorkingCapitalAbstract" xlink:href="mgic-20221231.xsd#mgic_WorkingCapitalAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_WorkingCapitalAbstract_lbl" xml:lang="en-US">Working capital adjustments:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WorkingCapitalAbstract" xlink:to="mgic_WorkingCapitalAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IncreaseDecreaseAccruedExpensesAndOtherAccountsPayable" xlink:href="mgic-20221231.xsd#mgic_IncreaseDecreaseAccruedExpensesAndOtherAccountsPayable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_IncreaseDecreaseAccruedExpensesAndOtherAccountsPayable_lbl" xml:lang="en-US">Accrued expenses and other accounts payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncreaseDecreaseAccruedExpensesAndOtherAccountsPayable" xlink:to="mgic_IncreaseDecreaseAccruedExpensesAndOtherAccountsPayable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OtherCurrentAndLongtermAccountsReceivable" xlink:href="mgic-20221231.xsd#mgic_OtherCurrentAndLongtermAccountsReceivable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_OtherCurrentAndLongtermAccountsReceivable_lbl" xml:lang="en-US">Other current and long-term accounts receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OtherCurrentAndLongtermAccountsReceivable" xlink:to="mgic_OtherCurrentAndLongtermAccountsReceivable_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable_lbl" xml:lang="en-US">Trade payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract44" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract44"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract44_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract44" xlink:to="mgic_UnlabeledAbstract44_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl" xml:lang="en-US">Net cash provided by operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from investing activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherCashReceiptsFromSalesOfEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherCashReceiptsFromSalesOfEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherCashReceiptsFromSalesOfEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities_lbl" xml:lang="en-US">Redemption of marketable securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCashReceiptsFromSalesOfEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities" xlink:to="ifrs-full_OtherCashReceiptsFromSalesOfEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments_lbl" xml:lang="en-US">Change in short-term deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:to="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract45" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract45"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract45_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract45" xlink:to="mgic_UnlabeledAbstract45_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl" xml:lang="en-US">Net cash used in investing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract46" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract46"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract46_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract46" xlink:to="mgic_UnlabeledAbstract46_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from financing activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract47" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract47"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract47_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract47" xlink:to="mgic_UnlabeledAbstract47_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProceedsFromExerciseOfOptions" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProceedsFromExerciseOfOptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProceedsFromExerciseOfOptions_lbl" xml:lang="en-US">Exercise of employees&#8217; stock options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromExerciseOfOptions" xlink:to="ifrs-full_ProceedsFromExerciseOfOptions_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities_lbl" xml:lang="en-US">Receipt of long-term loans from banks and others</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:to="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract48" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract48"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract48_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract48" xlink:to="mgic_UnlabeledAbstract48_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl" xml:lang="en-US">Net cash used in financing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract49" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract49"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract49_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract49" xlink:to="mgic_UnlabeledAbstract49_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_lbl" xml:lang="en-US">Effect of exchange rate changes on cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:to="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract50" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract50"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract50_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract50" xlink:to="mgic_UnlabeledAbstract50_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents_lbl" xml:lang="en-US">Decrease in cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:to="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract51" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract51"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract51_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract51" xlink:to="mgic_UnlabeledAbstract51_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AppendixAAbstract" xlink:href="mgic-20221231.xsd#mgic_AppendixAAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AppendixAAbstract_lbl" xml:lang="en-US">Appendix A</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AppendixAAbstract" xlink:to="mgic_AppendixAAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CashPaidInConjunctionWithAcquisitionsNetOfAcquiredCashAbstract" xlink:href="mgic-20221231.xsd#mgic_CashPaidInConjunctionWithAcquisitionsNetOfAcquiredCashAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CashPaidInConjunctionWithAcquisitionsNetOfAcquiredCashAbstract_lbl" xml:lang="en-US">Cash paid in conjunction with acquisitions, net of acquired cash:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashPaidInConjunctionWithAcquisitionsNetOfAcquiredCashAbstract" xlink:to="mgic_CashPaidInConjunctionWithAcquisitionsNetOfAcquiredCashAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract_lbl" xml:lang="en-US">Fair value of assets acquired and liabilities assumed at the date of acquisition:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract" xlink:to="ifrs-full_AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_NetAssetsExcludingAcquiredCash" xlink:href="mgic-20221231.xsd#mgic_NetAssetsExcludingAcquiredCash"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_NetAssetsExcludingAcquiredCash_lbl" xml:lang="en-US">Net assets, excluding acquired cash</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetAssetsExcludingAcquiredCash" xlink:to="mgic_NetAssetsExcludingAcquiredCash_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ChangesInGoodwill" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ChangesInGoodwill"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ChangesInGoodwill_lbl" xml:lang="en-US">Goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ChangesInGoodwill" xlink:to="ifrs-full_ChangesInGoodwill_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DeferredAndContingentLiabilitiesAssumedInCurrentYearBusinessCombinations" xlink:href="mgic-20221231.xsd#mgic_DeferredAndContingentLiabilitiesAssumedInCurrentYearBusinessCombinations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DeferredAndContingentLiabilitiesAssumedInCurrentYearBusinessCombinations_lbl" xml:lang="en-US">Deferred and contingent liabilities assumed in current year business combinations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredAndContingentLiabilitiesAssumedInCurrentYearBusinessCombinations" xlink:to="mgic_DeferredAndContingentLiabilitiesAssumedInCurrentYearBusinessCombinations_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FairValueofAssetsAcquiredandLiabilitiesNoncontrollingInterests" xlink:href="mgic-20221231.xsd#mgic_FairValueofAssetsAcquiredandLiabilitiesNoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_FairValueofAssetsAcquiredandLiabilitiesNoncontrollingInterests_lbl" xml:lang="en-US">Non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FairValueofAssetsAcquiredandLiabilitiesNoncontrollingInterests" xlink:to="mgic_FairValueofAssetsAcquiredandLiabilitiesNoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract52" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract52"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract52_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract52" xlink:to="mgic_UnlabeledAbstract52_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLoss" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdjustmentsForReconcileProfitLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLoss_lbl" xml:lang="en-US">Cash paid in conjunction with acquisitions, net of acquired cash total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLoss" xlink:to="ifrs-full_AdjustmentsForReconcileProfitLoss_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AppendixBAbstract" xlink:href="mgic-20221231.xsd#mgic_AppendixBAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AppendixBAbstract_lbl" xml:lang="en-US">Appendix B</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AppendixBAbstract" xlink:to="mgic_AppendixBAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SupplementaryInformationOnInvestingAndFinancingActivitiesNotInvolvingCashFlowsAbstract" xlink:href="mgic-20221231.xsd#mgic_SupplementaryInformationOnInvestingAndFinancingActivitiesNotInvolvingCashFlowsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_SupplementaryInformationOnInvestingAndFinancingActivitiesNotInvolvingCashFlowsAbstract_lbl" xml:lang="en-US">Supplementary information on investing and financing activities not involving cash flows:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SupplementaryInformationOnInvestingAndFinancingActivitiesNotInvolvingCashFlowsAbstract" xlink:to="mgic_SupplementaryInformationOnInvestingAndFinancingActivitiesNotInvolvingCashFlowsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract53" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract53"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract53_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract53" xlink:to="mgic_UnlabeledAbstract53_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_NoncashActivitiesAbstract" xlink:href="mgic-20221231.xsd#mgic_NoncashActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_NoncashActivitiesAbstract_lbl" xml:lang="en-US">Non-cash activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NoncashActivitiesAbstract" xlink:to="mgic_NoncashActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract54" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract54"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract54_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract54" xlink:to="mgic_UnlabeledAbstract54_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RightofuseAssetsIncreaseDecreaseInRevaluationSurplus" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RightofuseAssetsIncreaseDecreaseInRevaluationSurplus"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RightofuseAssetsIncreaseDecreaseInRevaluationSurplus_lbl" xml:lang="en-US">Right-of-use asset recognized with corresponding lease liability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RightofuseAssetsIncreaseDecreaseInRevaluationSurplus" xlink:to="ifrs-full_RightofuseAssetsIncreaseDecreaseInRevaluationSurplus_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AppendixCAbstract" xlink:href="mgic-20221231.xsd#mgic_AppendixCAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AppendixCAbstract_lbl" xml:lang="en-US">Appendix C</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AppendixCAbstract" xlink:to="mgic_AppendixCAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SupplementalDisclosureOfCashFlowActivitiesAbstract" xlink:href="mgic-20221231.xsd#mgic_SupplementalDisclosureOfCashFlowActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_SupplementalDisclosureOfCashFlowActivitiesAbstract_lbl" xml:lang="en-US">Supplemental disclosure of cash flow activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SupplementalDisclosureOfCashFlowActivitiesAbstract" xlink:to="mgic_SupplementalDisclosureOfCashFlowActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract55" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract55"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract55_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract55" xlink:to="mgic_UnlabeledAbstract55_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CashPaidreceivedNetAbstract" xlink:href="mgic-20221231.xsd#mgic_CashPaidreceivedNetAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CashPaidreceivedNetAbstract_lbl" xml:lang="en-US">Cash paid (received), net during the year for:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashPaidreceivedNetAbstract" xlink:to="mgic_CashPaidreceivedNetAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract56" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract56"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract56_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract56" xlink:to="mgic_UnlabeledAbstract56_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IncomeTaxesPaidRefundClassifiedAsFinancingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IncomeTaxesPaidRefundClassifiedAsFinancingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncomeTaxesPaidRefundClassifiedAsFinancingActivities_lbl" xml:lang="en-US">Income taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxesPaidRefundClassifiedAsFinancingActivities" xlink:to="ifrs-full_IncomeTaxesPaidRefundClassifiedAsFinancingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract57" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract57"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract57_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract57" xlink:to="mgic_UnlabeledAbstract57_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_InterestPaidClassifiedAsOperatingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_InterestPaidClassifiedAsOperatingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestPaidClassifiedAsOperatingActivities_lbl" xml:lang="en-US">Interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestPaidClassifiedAsOperatingActivities" xlink:to="ifrs-full_InterestPaidClassifiedAsOperatingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CumulativeGainLossPreviouslyRecognisedInOtherComprehensiveIncomeArisingFromReclassificationOfFinancialAssetsOutOfFairValueThroughOtherComprehensiveIncomeIntoFairValueThroughProfitOrLossMeasurementCategory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CumulativeGainLossPreviouslyRecognisedInOtherComprehensiveIncomeArisingFromReclassificationOfFinancialAssetsOutOfFairValueThroughOtherComprehensiveIncomeIntoFairValueThroughProfitOrLossMeasurementCategory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_CumulativeGainLossPreviouslyRecognisedInOtherComprehensiveIncomeArisingFromReclassificationOfFinancialAssetsOutOfFairValueThroughOtherComprehensiveIncomeIntoFairValueThroughProfitOrLossMeasurementCategory_lbl" xml:lang="en-US">Change in valuation of contingent consideration related to acquisitions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CumulativeGainLossPreviouslyRecognisedInOtherComprehensiveIncomeArisingFromReclassificationOfFinancialAssetsOutOfFairValueThroughOtherComprehensiveIncomeIntoFairValueThroughProfitOrLossMeasurementCategory" xlink:to="ifrs-full_CumulativeGainLossPreviouslyRecognisedInOtherComprehensiveIncomeArisingFromReclassificationOfFinancialAssetsOutOfFairValueThroughOtherComprehensiveIncomeIntoFairValueThroughProfitOrLossMeasurementCategory_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_CumulativeGainLossPreviouslyRecognisedInOtherComprehensiveIncomeArisingFromReclassificationOfFinancialAssetsOutOfFairValueThroughOtherComprehensiveIncomeIntoFairValueThroughProfitOrLossMeasurementCategory_lbl0" xml:lang="en-US">Change in valuation of contingent consideration related to acquisitions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CumulativeGainLossPreviouslyRecognisedInOtherComprehensiveIncomeArisingFromReclassificationOfFinancialAssetsOutOfFairValueThroughOtherComprehensiveIncomeIntoFairValueThroughProfitOrLossMeasurementCategory" xlink:to="ifrs-full_CumulativeGainLossPreviouslyRecognisedInOtherComprehensiveIncomeArisingFromReclassificationOfFinancialAssetsOutOfFairValueThroughOtherComprehensiveIncomeIntoFairValueThroughProfitOrLossMeasurementCategory_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ChangesInValueOfShorttermAndLongtermLoansFromBanksAndOthersAndDepositsNet" xlink:href="mgic-20221231.xsd#mgic_ChangesInValueOfShorttermAndLongtermLoansFromBanksAndOthersAndDepositsNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_ChangesInValueOfShorttermAndLongtermLoansFromBanksAndOthersAndDepositsNet_lbl" xml:lang="en-US">Changes in value of short-term and long-term loans from banks and others and deposits, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ChangesInValueOfShorttermAndLongtermLoansFromBanksAndOthersAndDepositsNet" xlink:to="mgic_ChangesInValueOfShorttermAndLongtermLoansFromBanksAndOthersAndDepositsNet_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IncreaseDecreaseInDeferredTaxLiabilityAsset" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IncreaseDecreaseInDeferredTaxLiabilityAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_IncreaseDecreaseInDeferredTaxLiabilityAsset_lbl" xml:lang="en-US">Changes in deferred taxes, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInDeferredTaxLiabilityAsset" xlink:to="ifrs-full_IncreaseDecreaseInDeferredTaxLiabilityAsset_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PaymentsOfDeferredAndContingentConsiderationRelatedToAcquisitions" xlink:href="mgic-20221231.xsd#mgic_PaymentsOfDeferredAndContingentConsiderationRelatedToAcquisitions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_PaymentsOfDeferredAndContingentConsiderationRelatedToAcquisitions_lbl" xml:lang="en-US">Payments of deferred and contingent consideration related to acquisitions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PaymentsOfDeferredAndContingentConsiderationRelatedToAcquisitions" xlink:to="mgic_PaymentsOfDeferredAndContingentConsiderationRelatedToAcquisitions_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IncreaseDecreaseTradeReceivables" xlink:href="mgic-20221231.xsd#mgic_IncreaseDecreaseTradeReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_IncreaseDecreaseTradeReceivables_lbl" xml:lang="en-US">Trade receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncreaseDecreaseTradeReceivables" xlink:to="mgic_IncreaseDecreaseTradeReceivables_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DeferredRevenues" xlink:href="mgic-20221231.xsd#mgic_DeferredRevenues"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_DeferredRevenues_lbl" xml:lang="en-US">Deferred revenues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredRevenues" xlink:to="mgic_DeferredRevenues_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PaymentsForBusinessAcquisitionsNetOfCashAcquiredAppendixA" xlink:href="mgic-20221231.xsd#mgic_PaymentsForBusinessAcquisitionsNetOfCashAcquiredAppendixA"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_PaymentsForBusinessAcquisitionsNetOfCashAcquiredAppendixA_lbl" xml:lang="en-US">Payments for business acquisitions, net of cash acquired (Appendix A)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PaymentsForBusinessAcquisitionsNetOfCashAcquiredAppendixA" xlink:to="mgic_PaymentsForBusinessAcquisitionsNetOfCashAcquiredAppendixA_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CashAdvancesAndLoansMadeToRelatedParties" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashAdvancesAndLoansMadeToRelatedParties"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_CashAdvancesAndLoansMadeToRelatedParties_lbl" xml:lang="en-US">Loan extended to related party</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAdvancesAndLoansMadeToRelatedParties" xlink:to="ifrs-full_CashAdvancesAndLoansMadeToRelatedParties_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CashPaidInConjunctionWithDeferredPaymentsAndContingentLiabilitiesRelatedToBusinessCo" xlink:href="mgic-20221231.xsd#mgic_CashPaidInConjunctionWithDeferredPaymentsAndContingentLiabilitiesRelatedToBusinessCo"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_CashPaidInConjunctionWithDeferredPaymentsAndContingentLiabilitiesRelatedToBusinessCo_lbl" xml:lang="en-US">Cash paid in conjunction with deferred payments and contingent liabilities related to business combinations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashPaidInConjunctionWithDeferredPaymentsAndContingentLiabilitiesRelatedToBusinessCo" xlink:to="mgic_CashPaidInConjunctionWithDeferredPaymentsAndContingentLiabilitiesRelatedToBusinessCo_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_lbl" xml:lang="en-US">Purchase of intangible assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:to="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_lbl0" xml:lang="en-US">Purchase of intangible asset</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:to="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xml:lang="en-US">Purchase of property and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:to="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CapitalizationOfSoftwareDevelopmentOne" xlink:href="mgic-20221231.xsd#mgic_CapitalizationOfSoftwareDevelopmentOne"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_CapitalizationOfSoftwareDevelopmentOne_lbl" xml:lang="en-US">Capitalization of software development</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CapitalizationOfSoftwareDevelopmentOne" xlink:to="mgic_CapitalizationOfSoftwareDevelopmentOne_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DividendsPaidToNoncontrollingInterests" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DividendsPaidToNoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_DividendsPaidToNoncontrollingInterests_lbl" xml:lang="en-US">Dividend paid to non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsPaidToNoncontrollingInterests" xlink:to="ifrs-full_DividendsPaidToNoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DividendToMagicsShareholders1" xlink:href="mgic-20221231.xsd#mgic_DividendToMagicsShareholders1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_DividendToMagicsShareholders1_lbl" xml:lang="en-US">Dividend to Magic&#8217;s shareholders</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DividendToMagicsShareholders1" xlink:to="mgic_DividendToMagicsShareholders1_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_RepaymentOfLongtermLoansFromBanksAndOthers" xlink:href="mgic-20221231.xsd#mgic_RepaymentOfLongtermLoansFromBanksAndOthers"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_RepaymentOfLongtermLoansFromBanksAndOthers_lbl" xml:lang="en-US">Repayment of long-term loans from banks and others</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RepaymentOfLongtermLoansFromBanksAndOthers" xlink:to="mgic_RepaymentOfLongtermLoansFromBanksAndOthers_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_lbl" xml:lang="en-US">Repayment of lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:to="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CashPaidDueToExerciseOfPutOptionByNoncontrollingInterests" xlink:href="mgic-20221231.xsd#mgic_CashPaidDueToExerciseOfPutOptionByNoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_CashPaidDueToExerciseOfPutOptionByNoncontrollingInterests_lbl" xml:lang="en-US">Cash paid due to exercise of put option by non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashPaidDueToExerciseOfPutOptionByNoncontrollingInterests" xlink:to="mgic_CashPaidDueToExerciseOfPutOptionByNoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IntangibleAssetsNetOfDeferredTaxes" xlink:href="mgic-20221231.xsd#mgic_IntangibleAssetsNetOfDeferredTaxes"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_IntangibleAssetsNetOfDeferredTaxes_lbl" xml:lang="en-US">Intangible assets, net of deferred taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssetsNetOfDeferredTaxes" xlink:to="mgic_IntangibleAssetsNetOfDeferredTaxes_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_BusinessContactMember" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_BusinessContactMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_BusinessContactMember_lbl" xml:lang="en-US">Business Contact</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_BusinessContactMember" xlink:to="dei_BusinessContactMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IssuedCapitalMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IssuedCapitalMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IssuedCapitalMember_lbl" xml:lang="en-US">Share Capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssuedCapitalMember" xlink:to="ifrs-full_IssuedCapitalMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_IssuedCapitalMember_lbl0" xml:lang="en-US">Share Capital [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssuedCapitalMember" xlink:to="ifrs-full_IssuedCapitalMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdditionalPaidinCapitalMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdditionalPaidinCapitalMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdditionalPaidinCapitalMember_lbl" xml:lang="en-US">Additional paid-in capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionalPaidinCapitalMember" xlink:to="ifrs-full_AdditionalPaidinCapitalMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_AdditionalPaidinCapitalMember_lbl0" xml:lang="en-US">Additional paid-in capital [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionalPaidinCapitalMember" xlink:to="ifrs-full_AdditionalPaidinCapitalMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RetainedEarningsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RetainedEarningsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RetainedEarningsMember_lbl" xml:lang="en-US">Retained earnings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RetainedEarningsMember" xlink:to="ifrs-full_RetainedEarningsMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_RetainedEarningsMember_lbl0" xml:lang="en-US">Retained earnings [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RetainedEarningsMember" xlink:to="ifrs-full_RetainedEarningsMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncomeMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AccumulatedOtherComprehensiveIncomeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncomeMember_lbl" xml:lang="en-US">Accumulated other Comprehensive Income (loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedOtherComprehensiveIncomeMember" xlink:to="ifrs-full_AccumulatedOtherComprehensiveIncomeMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncomeMember_lbl0" xml:lang="en-US">Accumulated other comprehensive income (loss) [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedOtherComprehensiveIncomeMember" xlink:to="ifrs-full_AccumulatedOtherComprehensiveIncomeMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncontrollingInterestsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncontrollingInterestsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncontrollingInterestsMember_lbl" xml:lang="en-US">Non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncontrollingInterestsMember" xlink:to="ifrs-full_NoncontrollingInterestsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory_lbl" xml:lang="en-US">GENERAL</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:to="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory_lbl" xml:lang="en-US">SIGNIFICANT ACCOUNTING POLICIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:to="ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory_lbl" xml:lang="en-US">Schedule of quantitative information about right of use assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory" xlink:to="ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_RightUseOfAsset" xlink:href="mgic-20221231.xsd#mgic_RightUseOfAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_RightUseOfAsset_lbl" xml:lang="en-US">Right use of asset</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RightUseOfAsset" xlink:to="mgic_RightUseOfAsset_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfAnnualRatesOfDepreciationTextBlock" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfAnnualRatesOfDepreciationTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ScheduleOfAnnualRatesOfDepreciationTextBlock_lbl" xml:lang="en-US">Schedule of annual rates of depreciation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfAnnualRatesOfDepreciationTextBlock" xlink:to="mgic_ScheduleOfAnnualRatesOfDepreciationTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EstimatedUsefulLifeOfAsset" xlink:href="mgic-20221231.xsd#mgic_EstimatedUsefulLifeOfAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_EstimatedUsefulLifeOfAsset_lbl" xml:lang="en-US">Estimated useful life of assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EstimatedUsefulLifeOfAsset" xlink:to="mgic_EstimatedUsefulLifeOfAsset_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory_lbl" xml:lang="en-US">Schedule of intangible assets with indefinite useful life</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory" xlink:to="ifrs-full_DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionAndCarryingAmountOfIntangibleAssetsWithIndefiniteUsefulLife" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DescriptionAndCarryingAmountOfIntangibleAssetsWithIndefiniteUsefulLife"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionAndCarryingAmountOfIntangibleAssetsWithIndefiniteUsefulLife_lbl" xml:lang="en-US">Useful life of intangible asset</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionAndCarryingAmountOfIntangibleAssetsWithIndefiniteUsefulLife" xlink:to="ifrs-full_DescriptionAndCarryingAmountOfIntangibleAssetsWithIndefiniteUsefulLife_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfBusinessCombinationsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfBusinessCombinationsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfBusinessCombinationsExplanatory_lbl" xml:lang="en-US">BUSINESS COMBINATIONS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfBusinessCombinationsExplanatory" xlink:to="ifrs-full_DisclosureOfBusinessCombinationsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock_lbl" xml:lang="en-US">Schedule of estimated fair values of the assets acquired and liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock" xlink:to="mgic_DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_NetLiabilitiesExcludingOfCashAcquired" xlink:href="mgic-20221231.xsd#mgic_NetLiabilitiesExcludingOfCashAcquired"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_NetLiabilitiesExcludingOfCashAcquired_lbl" xml:lang="en-US">Net liabilities excluding of cash acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetLiabilitiesExcludingOfCashAcquired" xlink:to="mgic_NetLiabilitiesExcludingOfCashAcquired_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities" xlink:href="mgic-20221231.xsd#mgic_IntangibleAssetsNetOfDeferredTaxLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities_lbl" xml:lang="en-US">Intangible assets, net of deferred tax liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities" xlink:to="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities_lbl0" xml:lang="en-US">Customer relationships, net of deferred tax liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities" xlink:to="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities_lbl1" xml:lang="en-US">Customer relationships, net of deferred tax liability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities" xlink:to="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities_lbl1"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_GoodwillExpectedDeductibleForTaxPurposes" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_GoodwillExpectedDeductibleForTaxPurposes"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GoodwillExpectedDeductibleForTaxPurposes_lbl" xml:lang="en-US">Goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GoodwillExpectedDeductibleForTaxPurposes" xlink:to="ifrs-full_GoodwillExpectedDeductibleForTaxPurposes_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NetAssetsLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NetAssetsLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NetAssetsLiabilities_lbl" xml:lang="en-US">Net liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetAssetsLiabilities" xlink:to="ifrs-full_NetAssetsLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_GoodwillRecognisedAsOfAcquisitionDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate_lbl" xml:lang="en-US">Goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_NetLiabilitiesExcludeOfCashAcquired" xlink:href="mgic-20221231.xsd#mgic_NetLiabilitiesExcludeOfCashAcquired"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_NetLiabilitiesExcludeOfCashAcquired_lbl" xml:lang="en-US">Net liabilities, excluding $42 of cash acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetLiabilitiesExcludeOfCashAcquired" xlink:to="mgic_NetLiabilitiesExcludeOfCashAcquired_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_NetLiabilitiesExcludingOfCashAcquires" xlink:href="mgic-20221231.xsd#mgic_NetLiabilitiesExcludingOfCashAcquires"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_NetLiabilitiesExcludingOfCashAcquires_lbl" xml:lang="en-US">Net liabilities excluding of cash acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetLiabilitiesExcludingOfCashAcquires" xlink:to="mgic_NetLiabilitiesExcludingOfCashAcquires_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CustomerRelationshipsNetOfDeferredTaxLiabilitys" xlink:href="mgic-20221231.xsd#mgic_CustomerRelationshipsNetOfDeferredTaxLiabilitys"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CustomerRelationshipsNetOfDeferredTaxLiabilitys_lbl" xml:lang="en-US">Customer relationships, net of deferred tax liability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CustomerRelationshipsNetOfDeferredTaxLiabilitys" xlink:to="mgic_CustomerRelationshipsNetOfDeferredTaxLiabilitys_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_UnallocatedGoodwill" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_UnallocatedGoodwill"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_UnallocatedGoodwill_lbl" xml:lang="en-US">Goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_UnallocatedGoodwill" xlink:to="ifrs-full_UnallocatedGoodwill_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_RedeemableNoncontrollingInterest" xlink:href="mgic-20221231.xsd#mgic_RedeemableNoncontrollingInterest"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_RedeemableNoncontrollingInterest_lbl" xml:lang="en-US">Redeemable non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RedeemableNoncontrollingInterest" xlink:to="mgic_RedeemableNoncontrollingInterest_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory_lbl" xml:lang="en-US">CASH AND CASH EQUIVALENTS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory" xlink:to="ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfRestrictedCashAndCashEquivalentsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfRestrictedCashAndCashEquivalentsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfRestrictedCashAndCashEquivalentsExplanatory_lbl" xml:lang="en-US">Schedule of cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfRestrictedCashAndCashEquivalentsExplanatory" xlink:to="ifrs-full_DisclosureOfRestrictedCashAndCashEquivalentsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CashAndDepositsForImmediateWithdrawal" xlink:href="mgic-20221231.xsd#mgic_CashAndDepositsForImmediateWithdrawal"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CashAndDepositsForImmediateWithdrawal_lbl" xml:lang="en-US">Cash and deposits for immediate withdrawal</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashAndDepositsForImmediateWithdrawal" xlink:to="mgic_CashAndDepositsForImmediateWithdrawal_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CashEquivalentsInNISdenominatedDeposit" xlink:href="mgic-20221231.xsd#mgic_CashEquivalentsInNISdenominatedDeposit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CashEquivalentsInNISdenominatedDeposit_lbl" xml:lang="en-US">Cash equivalents in NIS-denominated deposit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashEquivalentsInNISdenominatedDeposit" xlink:to="mgic_CashEquivalentsInNISdenominatedDeposit_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherCashAndCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherCashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherCashAndCashEquivalents_lbl" xml:lang="en-US">Cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCashAndCashEquivalents" xlink:to="ifrs-full_OtherCashAndCashEquivalents_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfOtherAccountsReceivableAndPrepaidExpensesTextBlock" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfOtherAccountsReceivableAndPrepaidExpensesTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisclosureOfOtherAccountsReceivableAndPrepaidExpensesTextBlock_lbl" xml:lang="en-US">OTHER ACCOUNTS RECEIVAVABLE AND PREPAID EXPESNES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfOtherAccountsReceivableAndPrepaidExpensesTextBlock" xlink:to="mgic_DisclosureOfOtherAccountsReceivableAndPrepaidExpensesTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfAOtherAccountsReceivableAndPrepaidExpensesTableTexBlock" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfAOtherAccountsReceivableAndPrepaidExpensesTableTexBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisclosureOfAOtherAccountsReceivableAndPrepaidExpensesTableTexBlock_lbl" xml:lang="en-US">Schedule of other accounts receivable and prepaid expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfAOtherAccountsReceivableAndPrepaidExpensesTableTexBlock" xlink:to="mgic_DisclosureOfAOtherAccountsReceivableAndPrepaidExpensesTableTexBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentPrepaidExpenses" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentPrepaidExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentPrepaidExpenses_lbl" xml:lang="en-US">Prepaid expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentPrepaidExpenses" xlink:to="ifrs-full_CurrentPrepaidExpenses_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_GovernmentGrants" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_GovernmentGrants"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GovernmentGrants_lbl" xml:lang="en-US">Government authorities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GovernmentGrants" xlink:to="ifrs-full_GovernmentGrants_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TradeAndOtherPayablesToRelatedParties" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_TradeAndOtherPayablesToRelatedParties"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TradeAndOtherPayablesToRelatedParties_lbl" xml:lang="en-US">Related parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherPayablesToRelatedParties" xlink:to="ifrs-full_TradeAndOtherPayablesToRelatedParties_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherPayables" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherPayables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherPayables_lbl" xml:lang="en-US">Others</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherPayables" xlink:to="ifrs-full_OtherPayables_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TradeReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_TradeReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TradeReceivables_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeReceivables" xlink:to="ifrs-full_TradeReceivables_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfFairValueMeasurementExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfFairValueMeasurementExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfFairValueMeasurementExplanatory_lbl" xml:lang="en-US">FAIR VALUE MEASUREMENT</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFairValueMeasurementExplanatory" xlink:to="ifrs-full_DisclosureOfFairValueMeasurementExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfFinancialAssetsAndLiabilitiesMeasuredAtFairValueOnARecurringBasisTableTextBlock" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfFinancialAssetsAndLiabilitiesMeasuredAtFairValueOnARecurringBasisTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ScheduleOfFinancialAssetsAndLiabilitiesMeasuredAtFairValueOnARecurringBasisTableTextBlock_lbl" xml:lang="en-US">Schedule of financial assets and liabilities measured at fair value on a recurring basis</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfFinancialAssetsAndLiabilitiesMeasuredAtFairValueOnARecurringBasisTableTextBlock" xlink:to="mgic_ScheduleOfFinancialAssetsAndLiabilitiesMeasuredAtFairValueOnARecurringBasisTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LiabilitiesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LiabilitiesAbstract_lbl" xml:lang="en-US">Liabilities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesAbstract" xlink:to="ifrs-full_LiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PutOptionsOfNoncontrollingInterestsliabilities" xlink:href="mgic-20221231.xsd#mgic_PutOptionsOfNoncontrollingInterestsliabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_PutOptionsOfNoncontrollingInterestsliabilities_lbl" xml:lang="en-US">Put options of non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PutOptionsOfNoncontrollingInterestsliabilities" xlink:to="mgic_PutOptionsOfNoncontrollingInterestsliabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_FinancialLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinancialLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialLiabilities_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilities" xlink:to="ifrs-full_FinancialLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LiabilitiesAbstract0" xlink:href="mgic-20221231.xsd#mgic_LiabilitiesAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LiabilitiesAbstract0_lbl" xml:lang="en-US">Liabilities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LiabilitiesAbstract0" xlink:to="mgic_LiabilitiesAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LiabilitiesAbstract1" xlink:href="mgic-20221231.xsd#mgic_LiabilitiesAbstract1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LiabilitiesAbstract1_lbl" xml:lang="en-US">Liabilities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LiabilitiesAbstract1" xlink:to="mgic_LiabilitiesAbstract1_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfLiabilitiesInRespectOfTheBusinessCombinationsTableTextBlock" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfLiabilitiesInRespectOfTheBusinessCombinationsTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ScheduleOfLiabilitiesInRespectOfTheBusinessCombinationsTableTextBlock_lbl" xml:lang="en-US">Schedule of liabilities in respect of the business combinations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfLiabilitiesInRespectOfTheBusinessCombinationsTableTextBlock" xlink:to="mgic_ScheduleOfLiabilitiesInRespectOfTheBusinessCombinationsTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IncreaseDecreaseInContingentConsiderationAssetLiability" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IncreaseDecreaseInContingentConsiderationAssetLiability"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncreaseDecreaseInContingentConsiderationAssetLiability_lbl" xml:lang="en-US">Increase in contingent consideration due to acquisitions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInContingentConsiderationAssetLiability" xlink:to="ifrs-full_IncreaseDecreaseInContingentConsiderationAssetLiability_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PaymentOfContingentConsideration" xlink:href="mgic-20221231.xsd#mgic_PaymentOfContingentConsideration"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_PaymentOfContingentConsideration_lbl" xml:lang="en-US">Payment of contingent consideration</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PaymentOfContingentConsideration" xlink:to="mgic_PaymentOfContingentConsideration_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IncreaseInFairValueOfContingentConsideration" xlink:href="mgic-20221231.xsd#mgic_IncreaseInFairValueOfContingentConsideration"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_IncreaseInFairValueOfContingentConsideration_lbl" xml:lang="en-US">Increase in fair value of contingent consideration</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncreaseInFairValueOfContingentConsideration" xlink:to="mgic_IncreaseInFairValueOfContingentConsideration_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DecreaseInFairValueOfContingentConsideration" xlink:href="mgic-20221231.xsd#mgic_DecreaseInFairValueOfContingentConsideration"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DecreaseInFairValueOfContingentConsideration_lbl" xml:lang="en-US">Decrease in fair value of contingent consideration</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DecreaseInFairValueOfContingentConsideration" xlink:to="mgic_DecreaseInFairValueOfContingentConsideration_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ForeignCurrencyTranslationAdjustments" xlink:href="mgic-20221231.xsd#mgic_ForeignCurrencyTranslationAdjustments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ForeignCurrencyTranslationAdjustments_lbl" xml:lang="en-US">Foreign currency translation adjustments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ForeignCurrencyTranslationAdjustments" xlink:to="mgic_ForeignCurrencyTranslationAdjustments_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AmortizationOfInterestAndExchangeRate" xlink:href="mgic-20221231.xsd#mgic_AmortizationOfInterestAndExchangeRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AmortizationOfInterestAndExchangeRate_lbl" xml:lang="en-US">Amortization of interest and exchange rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AmortizationOfInterestAndExchangeRate" xlink:to="mgic_AmortizationOfInterestAndExchangeRate_lbl"/>
    <loc xlink:type="locator" xlink:label="srt_ScheduleOfCondensedBalanceSheetTableTextBlock" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_ScheduleOfCondensedBalanceSheetTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_ScheduleOfCondensedBalanceSheetTableTextBlock_lbl" xml:lang="en-US">Schedule of financial assets and liabilities in the consolidated statements of financial position</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ScheduleOfCondensedBalanceSheetTableTextBlock" xlink:to="srt_ScheduleOfCondensedBalanceSheetTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FinancialAssetsAbstract" xlink:href="mgic-20221231.xsd#mgic_FinancialAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_FinancialAssetsAbstract_lbl" xml:lang="en-US">Financial assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FinancialAssetsAbstract" xlink:to="mgic_FinancialAssetsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract58" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract58"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract58_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract58" xlink:to="mgic_UnlabeledAbstract58_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FinancialAssetsAtCostAbstract" xlink:href="mgic-20221231.xsd#mgic_FinancialAssetsAtCostAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_FinancialAssetsAtCostAbstract_lbl" xml:lang="en-US">Financial assets at cost:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FinancialAssetsAtCostAbstract" xlink:to="mgic_FinancialAssetsAtCostAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract59" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract59"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract59_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract59" xlink:to="mgic_UnlabeledAbstract59_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents_lbl" xml:lang="en-US">Short-term bank deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:to="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract60" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract60"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract60_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract60" xlink:to="mgic_UnlabeledAbstract60_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract61" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract61"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract61_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract61" xlink:to="mgic_UnlabeledAbstract61_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FinancialLiabilitiesAbstract" xlink:href="mgic-20221231.xsd#mgic_FinancialLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_FinancialLiabilitiesAbstract_lbl" xml:lang="en-US">Financial liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FinancialLiabilitiesAbstract" xlink:to="mgic_FinancialLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract62" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract62"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract62_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract62" xlink:to="mgic_UnlabeledAbstract62_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FinancialLiabilitiesAtFairValueThroughEquityAbstract" xlink:href="mgic-20221231.xsd#mgic_FinancialLiabilitiesAtFairValueThroughEquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_FinancialLiabilitiesAtFairValueThroughEquityAbstract_lbl" xml:lang="en-US">Financial liabilities at fair value through equity:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FinancialLiabilitiesAtFairValueThroughEquityAbstract" xlink:to="mgic_FinancialLiabilitiesAtFairValueThroughEquityAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PutOptionsOfNoncontrollingInterests" xlink:href="mgic-20221231.xsd#mgic_PutOptionsOfNoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_PutOptionsOfNoncontrollingInterests_lbl" xml:lang="en-US">Put options of non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PutOptionsOfNoncontrollingInterests" xlink:to="mgic_PutOptionsOfNoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract63" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract63"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract63_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract63" xlink:to="mgic_UnlabeledAbstract63_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossAbstract_lbl" xml:lang="en-US">Financial liabilities at fair value through profit or loss:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossAbstract" xlink:to="ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LiabilityInRespectOfBusinessCombination" xlink:href="mgic-20221231.xsd#mgic_LiabilityInRespectOfBusinessCombination"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LiabilityInRespectOfBusinessCombination_lbl" xml:lang="en-US">Liability in respect of business combinations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LiabilityInRespectOfBusinessCombination" xlink:to="mgic_LiabilityInRespectOfBusinessCombination_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract64" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract64"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract64_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract64" xlink:to="mgic_UnlabeledAbstract64_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FinancialLiabilitiesMeasuredAtAmortizedCostAbstract" xlink:href="mgic-20221231.xsd#mgic_FinancialLiabilitiesMeasuredAtAmortizedCostAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_FinancialLiabilitiesMeasuredAtAmortizedCostAbstract_lbl" xml:lang="en-US">Financial liabilities measured at amortized cost:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FinancialLiabilitiesMeasuredAtAmortizedCostAbstract" xlink:to="mgic_FinancialLiabilitiesMeasuredAtAmortizedCostAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LoansFromBankAndFinancialInstitutions" xlink:href="mgic-20221231.xsd#mgic_LoansFromBankAndFinancialInstitutions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LoansFromBankAndFinancialInstitutions_lbl" xml:lang="en-US">Loans from bank and financial institutions (short-term and long-term debt)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LoansFromBankAndFinancialInstitutions" xlink:to="mgic_LoansFromBankAndFinancialInstitutions_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_GrossLeaseLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_GrossLeaseLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GrossLeaseLiabilities_lbl" xml:lang="en-US">Lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossLeaseLiabilities" xlink:to="ifrs-full_GrossLeaseLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract65" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract65"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract65_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract65" xlink:to="mgic_UnlabeledAbstract65_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory_lbl" xml:lang="en-US">PROPERTY, PLANTS AND EQUIPMENT, NET</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:to="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory_lbl" xml:lang="en-US">Schedule of the composition and movement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostAbstract" xlink:href="mgic-20221231.xsd#mgic_CostAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostAbstract_lbl" xml:lang="en-US">Cost:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAbstract" xlink:to="mgic_CostAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdditionsDuringTheYearAbstract" xlink:href="mgic-20221231.xsd#mgic_AdditionsDuringTheYearAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdditionsDuringTheYearAbstract_lbl" xml:lang="en-US">Additions during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdditionsDuringTheYearAbstract" xlink:to="mgic_AdditionsDuringTheYearAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostPurchases" xlink:href="mgic-20221231.xsd#mgic_CostPurchases"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostPurchases_lbl" xml:lang="en-US">Cost Purchases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostPurchases" xlink:to="mgic_CostPurchases_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostAcquisition" xlink:href="mgic-20221231.xsd#mgic_CostAcquisition"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostAcquisition_lbl" xml:lang="en-US">Cost Acquisitions of subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAcquisition" xlink:to="mgic_CostAcquisition_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations" xlink:href="mgic-20221231.xsd#mgic_CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations_lbl" xml:lang="en-US">Cost Adjustments arising from translating financial statements of foreign operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations" xlink:to="mgic_CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DecreasesDuringTheYearAbstract" xlink:href="mgic-20221231.xsd#mgic_DecreasesDuringTheYearAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DecreasesDuringTheYearAbstract_lbl" xml:lang="en-US">Decreases during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DecreasesDuringTheYearAbstract" xlink:to="mgic_DecreasesDuringTheYearAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostDisposals" xlink:href="mgic-20221231.xsd#mgic_CostDisposals"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostDisposals_lbl" xml:lang="en-US">Cost Disposals</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostDisposals" xlink:to="mgic_CostDisposals_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract66" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract66"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract66_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract66" xlink:to="mgic_UnlabeledAbstract66_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract67" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract67"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract67_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract67" xlink:to="mgic_UnlabeledAbstract67_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccumulatedDepreciationAbstract" xlink:href="mgic-20221231.xsd#mgic_AccumulatedDepreciationAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AccumulatedDepreciationAbstract_lbl" xml:lang="en-US">Accumulated depreciation:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedDepreciationAbstract" xlink:to="mgic_AccumulatedDepreciationAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdditionsDuringTheYearAbstract0" xlink:href="mgic-20221231.xsd#mgic_AdditionsDuringTheYearAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdditionsDuringTheYearAbstract0_lbl" xml:lang="en-US">Additions during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdditionsDuringTheYearAbstract0" xlink:to="mgic_AdditionsDuringTheYearAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccumulatedDepreciationDepreciation" xlink:href="mgic-20221231.xsd#mgic_AccumulatedDepreciationDepreciation"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AccumulatedDepreciationDepreciation_lbl" xml:lang="en-US">Accumulated depreciation Depreciation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedDepreciationDepreciation" xlink:to="mgic_AccumulatedDepreciationDepreciation_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccumulatedDepreciationDisposals" xlink:href="mgic-20221231.xsd#mgic_AccumulatedDepreciationDisposals"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AccumulatedDepreciationDisposals_lbl" xml:lang="en-US">Accumulated depreciation Disposals</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedDepreciationDisposals" xlink:to="mgic_AccumulatedDepreciationDisposals_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp" xlink:href="mgic-20221231.xsd#mgic_AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp_lbl" xml:lang="en-US">Accumulated depreciation, Adjustments arising from translating financial statements of foreign operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp" xlink:to="mgic_AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract68" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract68"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract68_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract68" xlink:to="mgic_UnlabeledAbstract68_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract69" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract69"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract69_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract69" xlink:to="mgic_UnlabeledAbstract69_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccumulatedDepreciationDepreciatedCosts" xlink:href="mgic-20221231.xsd#mgic_AccumulatedDepreciationDepreciatedCosts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AccumulatedDepreciationDepreciatedCosts_lbl" xml:lang="en-US">Depreciated cost at ending</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedDepreciationDepreciatedCosts" xlink:to="mgic_AccumulatedDepreciationDepreciatedCosts_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostAbstract0" xlink:href="mgic-20221231.xsd#mgic_CostAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostAbstract0_lbl" xml:lang="en-US">Cost:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAbstract0" xlink:to="mgic_CostAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdditionsDuringTheYearAbstract1" xlink:href="mgic-20221231.xsd#mgic_AdditionsDuringTheYearAbstract1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdditionsDuringTheYearAbstract1_lbl" xml:lang="en-US">Additions during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdditionsDuringTheYearAbstract1" xlink:to="mgic_AdditionsDuringTheYearAbstract1_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DecreasesDuringTheYearAbstract0" xlink:href="mgic-20221231.xsd#mgic_DecreasesDuringTheYearAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DecreasesDuringTheYearAbstract0_lbl" xml:lang="en-US">Decreases during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DecreasesDuringTheYearAbstract0" xlink:to="mgic_DecreasesDuringTheYearAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract70" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract70"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract70_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract70" xlink:to="mgic_UnlabeledAbstract70_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract71" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract71"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract71_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract71" xlink:to="mgic_UnlabeledAbstract71_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccumulatedDepreciationAbstract0" xlink:href="mgic-20221231.xsd#mgic_AccumulatedDepreciationAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AccumulatedDepreciationAbstract0_lbl" xml:lang="en-US">Accumulated depreciation:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedDepreciationAbstract0" xlink:to="mgic_AccumulatedDepreciationAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdditionsDuringTheYearAbstract2" xlink:href="mgic-20221231.xsd#mgic_AdditionsDuringTheYearAbstract2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdditionsDuringTheYearAbstract2_lbl" xml:lang="en-US">Additions during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdditionsDuringTheYearAbstract2" xlink:to="mgic_AdditionsDuringTheYearAbstract2_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract72" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract72"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract72_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract72" xlink:to="mgic_UnlabeledAbstract72_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract73" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract73"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract73_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract73" xlink:to="mgic_UnlabeledAbstract73_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract74" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract74"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract74_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract74" xlink:to="mgic_UnlabeledAbstract74_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccumulatedDepreciationDepreciatedCostsBeginning" xlink:href="mgic-20221231.xsd#mgic_AccumulatedDepreciationDepreciatedCostsBeginning"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AccumulatedDepreciationDepreciatedCostsBeginning_lbl" xml:lang="en-US">Depreciated cost at beginning</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedDepreciationDepreciatedCostsBeginning" xlink:to="mgic_AccumulatedDepreciationDepreciatedCostsBeginning_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory_lbl" xml:lang="en-US">INTANGIBLE ASSETS, NET</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsMaterialToEntityExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfIntangibleAssetsMaterialToEntityExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsMaterialToEntityExplanatory_lbl" xml:lang="en-US">Schedule of intangible assets of composition and movement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIntangibleAssetsMaterialToEntityExplanatory" xlink:to="ifrs-full_DisclosureOfIntangibleAssetsMaterialToEntityExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostAbstract1" xlink:href="mgic-20221231.xsd#mgic_CostAbstract1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostAbstract1_lbl" xml:lang="en-US">Cost:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAbstract1" xlink:to="mgic_CostAbstract1_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CapitalizedDevelopmentCosts" xlink:href="mgic-20221231.xsd#mgic_CapitalizedDevelopmentCosts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CapitalizedDevelopmentCosts_lbl" xml:lang="en-US">Capitalized development costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CapitalizedDevelopmentCosts" xlink:to="mgic_CapitalizedDevelopmentCosts_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AcquisitionOfSubsidiariesCosts" xlink:href="mgic-20221231.xsd#mgic_AcquisitionOfSubsidiariesCosts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AcquisitionOfSubsidiariesCosts_lbl" xml:lang="en-US">Acquisition of subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquisitionOfSubsidiariesCosts" xlink:to="mgic_AcquisitionOfSubsidiariesCosts_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations" xlink:href="mgic-20221231.xsd#mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations_lbl" xml:lang="en-US">Adjustments arising from translating financial statements of foreign operations cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations" xlink:to="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations_lbl0" xml:lang="en-US">Adjustments arising from translating financial statements of foreign operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations" xlink:to="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract75" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract75"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract75_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract75" xlink:to="mgic_UnlabeledAbstract75_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract76" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract76"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract76_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract76" xlink:to="mgic_UnlabeledAbstract76_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccumulatedAmortizationAndImpairmentAbstract" xlink:href="mgic-20221231.xsd#mgic_AccumulatedAmortizationAndImpairmentAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AccumulatedAmortizationAndImpairmentAbstract_lbl" xml:lang="en-US">Accumulated amortization and impairment:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedAmortizationAndImpairmentAbstract" xlink:to="mgic_AccumulatedAmortizationAndImpairmentAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AmortizationRecognized" xlink:href="mgic-20221231.xsd#mgic_AmortizationRecognized"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AmortizationRecognized_lbl" xml:lang="en-US">Amortization recognized in the year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AmortizationRecognized" xlink:to="mgic_AmortizationRecognized_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization" xlink:href="mgic-20221231.xsd#mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization_lbl" xml:lang="en-US">Adjustments arising from translating financial statements of foreign operations amortization</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization" xlink:to="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract77" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract77"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract77_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract77" xlink:to="mgic_UnlabeledAbstract77_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract78" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract78"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract78_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract78" xlink:to="mgic_UnlabeledAbstract78_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentFinancialAssetsAtAmortisedCost" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentFinancialAssetsAtAmortisedCost"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentFinancialAssetsAtAmortisedCost_lbl" xml:lang="en-US">Amortized cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentFinancialAssetsAtAmortisedCost" xlink:to="ifrs-full_CurrentFinancialAssetsAtAmortisedCost_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostAbstract2" xlink:href="mgic-20221231.xsd#mgic_CostAbstract2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostAbstract2_lbl" xml:lang="en-US">Cost:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAbstract2" xlink:to="mgic_CostAbstract2_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract79" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract79"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract79_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract79" xlink:to="mgic_UnlabeledAbstract79_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract80" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract80"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract80_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract80" xlink:to="mgic_UnlabeledAbstract80_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccumulatedAmortizationAndImpairmentAbstract0" xlink:href="mgic-20221231.xsd#mgic_AccumulatedAmortizationAndImpairmentAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AccumulatedAmortizationAndImpairmentAbstract0_lbl" xml:lang="en-US">Accumulated amortization and impairment:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedAmortizationAndImpairmentAbstract0" xlink:to="mgic_AccumulatedAmortizationAndImpairmentAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract81" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract81"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract81_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract81" xlink:to="mgic_UnlabeledAbstract81_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract82" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract82"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract82_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract82" xlink:to="mgic_UnlabeledAbstract82_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract83" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract83"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract83_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract83" xlink:to="mgic_UnlabeledAbstract83_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsAndGoodwillExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfIntangibleAssetsAndGoodwillExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsAndGoodwillExplanatory_lbl" xml:lang="en-US">Schedule of amortization expenses related to intangible assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIntangibleAssetsAndGoodwillExplanatory" xlink:to="ifrs-full_DisclosureOfIntangibleAssetsAndGoodwillExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostsOfRevenue" xlink:href="mgic-20221231.xsd#mgic_CostsOfRevenue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostsOfRevenue_lbl" xml:lang="en-US">Cost of revenues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostsOfRevenue" xlink:to="mgic_CostsOfRevenue_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_SellingGeneralAndAdministrativeExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpense_lbl" xml:lang="en-US">Selling and marketing expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:to="ifrs-full_SellingGeneralAndAdministrativeExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IntangibleAssets" xlink:href="mgic-20221231.xsd#mgic_IntangibleAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_IntangibleAssets_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssets" xlink:to="mgic_IntangibleAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfIntangibleAssetsByReportableSegmentExplanatory" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfIntangibleAssetsByReportableSegmentExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisclosureOfIntangibleAssetsByReportableSegmentExplanatory_lbl" xml:lang="en-US">Schedule of intangible assets composition by reportable segment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfIntangibleAssetsByReportableSegmentExplanatory" xlink:to="mgic_DisclosureOfIntangibleAssetsByReportableSegmentExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CapitalizedSoftwareDevelopmentCosts" xlink:href="mgic-20221231.xsd#mgic_CapitalizedSoftwareDevelopmentCosts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CapitalizedSoftwareDevelopmentCosts_lbl" xml:lang="en-US">Capitalized Software development costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CapitalizedSoftwareDevelopmentCosts" xlink:to="mgic_CapitalizedSoftwareDevelopmentCosts_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CustomerRelationship" xlink:href="mgic-20221231.xsd#mgic_CustomerRelationship"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CustomerRelationship_lbl" xml:lang="en-US">Customer relationship</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CustomerRelationship" xlink:to="mgic_CustomerRelationship_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AcquiredTechnology" xlink:href="mgic-20221231.xsd#mgic_AcquiredTechnology"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AcquiredTechnology_lbl" xml:lang="en-US">Acquired technology</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquiredTechnology" xlink:to="mgic_AcquiredTechnology_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherIntangibleAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherIntangibleAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherIntangibleAssets_lbl" xml:lang="en-US">Others</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherIntangibleAssets" xlink:to="ifrs-full_OtherIntangibleAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill" xlink:to="ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfIntangibleAssetsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsExplanatory_lbl" xml:lang="en-US">Schedule of estimated future amortization of intangible assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIntangibleAssetsExplanatory" xlink:to="ifrs-full_DisclosureOfIntangibleAssetsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EstimatedFutureAmortizationExpensesOne" xlink:href="mgic-20221231.xsd#mgic_EstimatedFutureAmortizationExpensesOne"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_EstimatedFutureAmortizationExpensesOne_lbl" xml:lang="en-US">2023</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EstimatedFutureAmortizationExpensesOne" xlink:to="mgic_EstimatedFutureAmortizationExpensesOne_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EstimatedFutureAmortizationExpensesTwo" xlink:href="mgic-20221231.xsd#mgic_EstimatedFutureAmortizationExpensesTwo"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_EstimatedFutureAmortizationExpensesTwo_lbl" xml:lang="en-US">2024</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EstimatedFutureAmortizationExpensesTwo" xlink:to="mgic_EstimatedFutureAmortizationExpensesTwo_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EstimatedFutureAmortizationExpensesThree" xlink:href="mgic-20221231.xsd#mgic_EstimatedFutureAmortizationExpensesThree"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_EstimatedFutureAmortizationExpensesThree_lbl" xml:lang="en-US">2025</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EstimatedFutureAmortizationExpensesThree" xlink:to="mgic_EstimatedFutureAmortizationExpensesThree_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EstimatedFutureAmortizationExpensesFour" xlink:href="mgic-20221231.xsd#mgic_EstimatedFutureAmortizationExpensesFour"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_EstimatedFutureAmortizationExpensesFour_lbl" xml:lang="en-US">2026</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EstimatedFutureAmortizationExpensesFour" xlink:to="mgic_EstimatedFutureAmortizationExpensesFour_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EstimatedFutureAmortizationExpensesFiveAndThereafter" xlink:href="mgic-20221231.xsd#mgic_EstimatedFutureAmortizationExpensesFiveAndThereafter"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_EstimatedFutureAmortizationExpensesFiveAndThereafter_lbl" xml:lang="en-US">2027 and thereafter</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EstimatedFutureAmortizationExpensesFiveAndThereafter" xlink:to="mgic_EstimatedFutureAmortizationExpensesFiveAndThereafter_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfGoodwillExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfGoodwillExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfGoodwillExplanatory_lbl" xml:lang="en-US">GOODWILL</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfGoodwillExplanatory" xlink:to="ifrs-full_DisclosureOfGoodwillExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsExplanatory_lbl" xml:lang="en-US">Schedule of carrying amount of goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsExplanatory" xlink:to="ifrs-full_DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract84" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract84"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract84_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract84" xlink:to="mgic_UnlabeledAbstract84_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AcquisitionsOfSubsidiaries" xlink:href="mgic-20221231.xsd#mgic_AcquisitionsOfSubsidiaries"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AcquisitionsOfSubsidiaries_lbl" xml:lang="en-US">Acquisition of subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquisitionsOfSubsidiaries" xlink:to="mgic_AcquisitionsOfSubsidiaries_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod_lbl" xml:lang="en-US">Measurement period adjustments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod" xlink:to="ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads_lbl" xml:lang="en-US">Foreign currency translation adjustments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract85" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract85"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract85_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract85" xlink:to="mgic_UnlabeledAbstract85_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract86" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract86"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract86_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract86" xlink:to="mgic_UnlabeledAbstract86_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory_lbl" xml:lang="en-US">Schedule of assessment for goodwill impairment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory" xlink:to="ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill_lbl" xml:lang="en-US">Carrying amount (in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:to="ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_WeightedAverageCostOfCapitals" xlink:href="mgic-20221231.xsd#mgic_WeightedAverageCostOfCapitals"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_WeightedAverageCostOfCapitals_lbl" xml:lang="en-US">Weighted average cost of capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageCostOfCapitals" xlink:to="mgic_WeightedAverageCostOfCapitals_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TerminalValueGrowthRate" xlink:href="mgic-20221231.xsd#mgic_TerminalValueGrowthRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TerminalValueGrowthRate_lbl" xml:lang="en-US">Terminal value growth rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TerminalValueGrowthRate" xlink:to="mgic_TerminalValueGrowthRate_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfShortTermDebtsExplanatoryTextBlock" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfShortTermDebtsExplanatoryTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisclosureOfShortTermDebtsExplanatoryTextBlock_lbl" xml:lang="en-US">SHORT TERM DEBTS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfShortTermDebtsExplanatoryTextBlock" xlink:to="mgic_DisclosureOfShortTermDebtsExplanatoryTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfShortTermDebtsExplanatory" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfShortTermDebtsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ScheduleOfShortTermDebtsExplanatory_lbl" xml:lang="en-US">Schedule of short term debts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfShortTermDebtsExplanatory" xlink:to="mgic_ScheduleOfShortTermDebtsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DebtInstrumentInterestRatesStatedPercentage" xlink:href="mgic-20221231.xsd#mgic_DebtInstrumentInterestRatesStatedPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DebtInstrumentInterestRatesStatedPercentage_lbl" xml:lang="en-US">Interest rate %</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DebtInstrumentInterestRatesStatedPercentage" xlink:to="mgic_DebtInstrumentInterestRatesStatedPercentage_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mgic_DebtInstrumentInterestRatesStatedPercentage_lbl0" xml:lang="en-US">Interest rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DebtInstrumentInterestRatesStatedPercentage" xlink:to="mgic_DebtInstrumentInterestRatesStatedPercentage_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_DerivativeCurrenciesBought" xlink:href="mgic-20221231.xsd#mgic_DerivativeCurrenciesBought"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DerivativeCurrenciesBought_lbl" xml:lang="en-US">Currency</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DerivativeCurrenciesBought" xlink:to="mgic_DerivativeCurrenciesBought_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mgic_DerivativeCurrenciesBought_lbl0" xml:lang="en-US">Linkage basis</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DerivativeCurrenciesBought" xlink:to="mgic_DerivativeCurrenciesBought_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_TotalShortTermBorrowings" xlink:href="mgic-20221231.xsd#mgic_TotalShortTermBorrowings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TotalShortTermBorrowings_lbl" xml:lang="en-US">Total short term borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalShortTermBorrowings" xlink:to="mgic_TotalShortTermBorrowings_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract87" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract87"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract87_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract87" xlink:to="mgic_UnlabeledAbstract87_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory_lbl" xml:lang="en-US">OTHER ACCOUNTS PAYABLE</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfRedesignatedFinancialAssetsAndLiabilitiesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfRedesignatedFinancialAssetsAndLiabilitiesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfRedesignatedFinancialAssetsAndLiabilitiesExplanatory_lbl" xml:lang="en-US">Schedule of other accounts payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfRedesignatedFinancialAssetsAndLiabilitiesExplanatory" xlink:to="ifrs-full_DisclosureOfRedesignatedFinancialAssetsAndLiabilitiesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ShorttermEmployeeBenefitsAccruals" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ShorttermEmployeeBenefitsAccruals"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ShorttermEmployeeBenefitsAccruals_lbl" xml:lang="en-US">Employees and payroll accruals</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShorttermEmployeeBenefitsAccruals" xlink:to="ifrs-full_ShorttermEmployeeBenefitsAccruals_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccruedExpenses" xlink:href="mgic-20221231.xsd#mgic_AccruedExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AccruedExpenses_lbl" xml:lang="en-US">Accrued expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccruedExpenses" xlink:to="mgic_AccruedExpenses_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_GovernmentDebtInstrumentsHeld" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_GovernmentDebtInstrumentsHeld"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GovernmentDebtInstrumentsHeld_lbl" xml:lang="en-US">Government authorities and other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GovernmentDebtInstrumentsHeld" xlink:to="ifrs-full_GovernmentDebtInstrumentsHeld_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfOtherNoncurrentAssetsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfOtherNoncurrentAssetsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfOtherNoncurrentAssetsExplanatory_lbl" xml:lang="en-US">LONG TERM DEBTS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfOtherNoncurrentAssetsExplanatory" xlink:to="ifrs-full_DisclosureOfOtherNoncurrentAssetsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfLongTermLiabilitiesTableTextBlock" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfLongTermLiabilitiesTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ScheduleOfLongTermLiabilitiesTableTextBlock_lbl" xml:lang="en-US">Schedule of maturity dates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfLongTermLiabilitiesTableTextBlock" xlink:to="mgic_ScheduleOfLongTermLiabilitiesTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TotalLongTermBorrowings" xlink:href="mgic-20221231.xsd#mgic_TotalLongTermBorrowings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TotalLongTermBorrowings_lbl" xml:lang="en-US">Total long term debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalLongTermBorrowings" xlink:to="mgic_TotalLongTermBorrowings_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfMaturityDatesTableTextBlock" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfMaturityDatesTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ScheduleOfMaturityDatesTableTextBlock_lbl" xml:lang="en-US">Schedule of maturity dates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfMaturityDatesTableTextBlock" xlink:to="mgic_ScheduleOfMaturityDatesTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FirstYearCurrentMaturities" xlink:href="mgic-20221231.xsd#mgic_FirstYearCurrentMaturities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_FirstYearCurrentMaturities_lbl" xml:lang="en-US">First year (Current maturities)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FirstYearCurrentMaturities" xlink:to="mgic_FirstYearCurrentMaturities_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SecondYear" xlink:href="mgic-20221231.xsd#mgic_SecondYear"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_SecondYear_lbl" xml:lang="en-US">Second year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SecondYear" xlink:to="mgic_SecondYear_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ThirdYearinShares" xlink:href="mgic-20221231.xsd#mgic_ThirdYearinShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ThirdYearinShares_lbl" xml:lang="en-US">Third year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ThirdYearinShares" xlink:to="mgic_ThirdYearinShares_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FourthYear" xlink:href="mgic-20221231.xsd#mgic_FourthYear"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_FourthYear_lbl" xml:lang="en-US">Fourth year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FourthYear" xlink:to="mgic_FourthYear_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FifthYearAndThereafter" xlink:href="mgic-20221231.xsd#mgic_FifthYearAndThereafter"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_FifthYearAndThereafter_lbl" xml:lang="en-US">Fifth year and thereafter</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FifthYearAndThereafter" xlink:to="mgic_FifthYearAndThereafter_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfRelatedPartyExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfRelatedPartyExplanatory_lbl" xml:lang="en-US">RELATED PARTIES TRANSACTIONS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:to="ifrs-full_DisclosureOfRelatedPartyExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfLeasesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfLeasesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfLeasesExplanatory_lbl" xml:lang="en-US">LEASES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfLeasesExplanatory" xlink:to="ifrs-full_DisclosureOfLeasesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory_lbl" xml:lang="en-US">Schedule of maturity analysis of undiscounted future lease payments for lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory" xlink:to="ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OperatingLeasesFutureMinimumPaymentDue" xlink:href="mgic-20221231.xsd#mgic_OperatingLeasesFutureMinimumPaymentDue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_OperatingLeasesFutureMinimumPaymentDue_lbl" xml:lang="en-US">Undiscounted future lease payments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OperatingLeasesFutureMinimumPaymentDue" xlink:to="mgic_OperatingLeasesFutureMinimumPaymentDue_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived_lbl" xml:lang="en-US">Total undiscounted cash flows</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived" xlink:to="ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LeaseLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LeaseLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LeaseLiabilities_lbl" xml:lang="en-US">Present value of lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LeaseLiabilities" xlink:to="ifrs-full_LeaseLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfLeaseInformationExplanatory" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfLeaseInformationExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ScheduleOfLeaseInformationExplanatory_lbl" xml:lang="en-US">Schedule of lease information</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfLeaseInformationExplanatory" xlink:to="mgic_ScheduleOfLeaseInformationExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ExpenseRelatingToOperatingLeaseCostsPaymentsNotIncludedInMeasurementOfLeaseLiabilities" xlink:href="mgic-20221231.xsd#mgic_ExpenseRelatingToOperatingLeaseCostsPaymentsNotIncludedInMeasurementOfLeaseLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ExpenseRelatingToOperatingLeaseCostsPaymentsNotIncludedInMeasurementOfLeaseLiabilities_lbl" xml:lang="en-US">Expenses relating to operating lease costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ExpenseRelatingToOperatingLeaseCostsPaymentsNotIncludedInMeasurementOfLeaseLiabilities" xlink:to="mgic_ExpenseRelatingToOperatingLeaseCostsPaymentsNotIncludedInMeasurementOfLeaseLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed_lbl" xml:lang="en-US">Expenses relating to short-term leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed" xlink:to="ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities_lbl" xml:lang="en-US">Expenses relating to variable lease payments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities" xlink:to="ifrs-full_ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfWeightedAverageRemainingLeaseTermsExplanatory" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfWeightedAverageRemainingLeaseTermsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ScheduleOfWeightedAverageRemainingLeaseTermsExplanatory_lbl" xml:lang="en-US">Schedule of weighted average remaining lease terms</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfWeightedAverageRemainingLeaseTermsExplanatory" xlink:to="mgic_ScheduleOfWeightedAverageRemainingLeaseTermsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_a2022Abstract" xlink:href="mgic-20221231.xsd#mgic_a2022Abstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_a2022Abstract_lbl" xml:lang="en-US">2022</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_a2022Abstract" xlink:to="mgic_a2022Abstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_WeightedAverageRemainingLeaseTermyears" xlink:href="mgic-20221231.xsd#mgic_WeightedAverageRemainingLeaseTermyears"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_WeightedAverageRemainingLeaseTermyears_lbl" xml:lang="en-US">Weighted average remaining lease term (years)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageRemainingLeaseTermyears" xlink:to="mgic_WeightedAverageRemainingLeaseTermyears_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_WeightedAverageDiscountRate" xlink:href="mgic-20221231.xsd#mgic_WeightedAverageDiscountRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_WeightedAverageDiscountRate_lbl" xml:lang="en-US">Weighted average discount rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageDiscountRate" xlink:to="mgic_WeightedAverageDiscountRate_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfRightofuseAssetsExplanatory" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfRightofuseAssetsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ScheduleOfRightofuseAssetsExplanatory_lbl" xml:lang="en-US">Schedule of right-of-use assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfRightofuseAssetsExplanatory" xlink:to="mgic_ScheduleOfRightofuseAssetsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostAbstract3" xlink:href="mgic-20221231.xsd#mgic_CostAbstract3"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostAbstract3_lbl" xml:lang="en-US">Cost:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAbstract3" xlink:to="mgic_CostAbstract3_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdditionsDuringTheYearAbstract3" xlink:href="mgic-20221231.xsd#mgic_AdditionsDuringTheYearAbstract3"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdditionsDuringTheYearAbstract3_lbl" xml:lang="en-US">Additions during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdditionsDuringTheYearAbstract3" xlink:to="mgic_AdditionsDuringTheYearAbstract3_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdditionsToRightofuseAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdditionsToRightofuseAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdditionsToRightofuseAssets_lbl" xml:lang="en-US">New leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionsToRightofuseAssets" xlink:to="ifrs-full_AdditionsToRightofuseAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ModificationOfLeases" xlink:href="mgic-20221231.xsd#mgic_ModificationOfLeases"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ModificationOfLeases_lbl" xml:lang="en-US">Modification of leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ModificationOfLeases" xlink:to="mgic_ModificationOfLeases_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdjustmentsForIndexation" xlink:href="mgic-20221231.xsd#mgic_AdjustmentsForIndexation"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdjustmentsForIndexation_lbl" xml:lang="en-US">Adjustments for indexation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdjustmentsForIndexation" xlink:to="mgic_AdjustmentsForIndexation_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisposalsDuringTheYearAbstract" xlink:href="mgic-20221231.xsd#mgic_DisposalsDuringTheYearAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisposalsDuringTheYearAbstract_lbl" xml:lang="en-US">Disposals during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisposalsDuringTheYearAbstract" xlink:to="mgic_DisposalsDuringTheYearAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TerminationOfLeases" xlink:href="mgic-20221231.xsd#mgic_TerminationOfLeases"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TerminationOfLeases_lbl" xml:lang="en-US">Termination of leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TerminationOfLeases" xlink:to="mgic_TerminationOfLeases_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract88" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract88"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract88_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract88" xlink:to="mgic_UnlabeledAbstract88_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostAtEnding" xlink:href="mgic-20221231.xsd#mgic_CostAtEnding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostAtEnding_lbl" xml:lang="en-US">Balance as of ending</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAtEnding" xlink:to="mgic_CostAtEnding_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract89" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract89"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract89_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract89" xlink:to="mgic_UnlabeledAbstract89_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccumulatedDepreciationAbstract1" xlink:href="mgic-20221231.xsd#mgic_AccumulatedDepreciationAbstract1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AccumulatedDepreciationAbstract1_lbl" xml:lang="en-US">Accumulated depreciation:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedDepreciationAbstract1" xlink:to="mgic_AccumulatedDepreciationAbstract1_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdditionsDuringTheYearAbstract4" xlink:href="mgic-20221231.xsd#mgic_AdditionsDuringTheYearAbstract4"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdditionsDuringTheYearAbstract4_lbl" xml:lang="en-US">Additions during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdditionsDuringTheYearAbstract4" xlink:to="mgic_AdditionsDuringTheYearAbstract4_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DepreciationRightofuseAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DepreciationRightofuseAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DepreciationRightofuseAssets_lbl" xml:lang="en-US">Depreciation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationRightofuseAssets" xlink:to="ifrs-full_DepreciationRightofuseAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisposalsDuringTheYearAbstract0" xlink:href="mgic-20221231.xsd#mgic_DisposalsDuringTheYearAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisposalsDuringTheYearAbstract0_lbl" xml:lang="en-US">Disposals during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisposalsDuringTheYearAbstract0" xlink:to="mgic_DisposalsDuringTheYearAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract90" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract90"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract90_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract90" xlink:to="mgic_UnlabeledAbstract90_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract91" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract91"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract91_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract91" xlink:to="mgic_UnlabeledAbstract91_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DepreciatedCost" xlink:href="mgic-20221231.xsd#mgic_DepreciatedCost"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DepreciatedCost_lbl" xml:lang="en-US">Depreciated cost at December 31</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DepreciatedCost" xlink:to="mgic_DepreciatedCost_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostAbstract4" xlink:href="mgic-20221231.xsd#mgic_CostAbstract4"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostAbstract4_lbl" xml:lang="en-US">Cost:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAbstract4" xlink:to="mgic_CostAbstract4_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdditionsDuringTheYearAbstract5" xlink:href="mgic-20221231.xsd#mgic_AdditionsDuringTheYearAbstract5"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdditionsDuringTheYearAbstract5_lbl" xml:lang="en-US">Additions during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdditionsDuringTheYearAbstract5" xlink:to="mgic_AdditionsDuringTheYearAbstract5_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisposalsDuringTheYearAbstract1" xlink:href="mgic-20221231.xsd#mgic_DisposalsDuringTheYearAbstract1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisposalsDuringTheYearAbstract1_lbl" xml:lang="en-US">Disposals during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisposalsDuringTheYearAbstract1" xlink:to="mgic_DisposalsDuringTheYearAbstract1_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract92" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract92"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract92_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract92" xlink:to="mgic_UnlabeledAbstract92_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract93" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract93"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract93_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract93" xlink:to="mgic_UnlabeledAbstract93_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccumulatedDepreciationAbstract2" xlink:href="mgic-20221231.xsd#mgic_AccumulatedDepreciationAbstract2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AccumulatedDepreciationAbstract2_lbl" xml:lang="en-US">Accumulated depreciation:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedDepreciationAbstract2" xlink:to="mgic_AccumulatedDepreciationAbstract2_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdditionsDuringTheYearAbstract6" xlink:href="mgic-20221231.xsd#mgic_AdditionsDuringTheYearAbstract6"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdditionsDuringTheYearAbstract6_lbl" xml:lang="en-US">Additions during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdditionsDuringTheYearAbstract6" xlink:to="mgic_AdditionsDuringTheYearAbstract6_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisposalsDuringTheYearAbstract2" xlink:href="mgic-20221231.xsd#mgic_DisposalsDuringTheYearAbstract2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisposalsDuringTheYearAbstract2_lbl" xml:lang="en-US">Disposals during the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisposalsDuringTheYearAbstract2" xlink:to="mgic_DisposalsDuringTheYearAbstract2_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract94" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract94"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract94_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract94" xlink:to="mgic_UnlabeledAbstract94_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract95" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract95"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract95_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract95" xlink:to="mgic_UnlabeledAbstract95_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory_lbl" xml:lang="en-US">SHARE BASED PAYMENTS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:to="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory_lbl" xml:lang="en-US">Schedule of fair value of the options granted using the Binomial model</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory" xlink:to="ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_WeightedAverageSharePriceShareOptionsGranted2019" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_WeightedAverageSharePriceShareOptionsGranted2019"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageSharePriceShareOptionsGranted2019_lbl" xml:lang="en-US">Share price (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageSharePriceShareOptionsGranted2019" xlink:to="ifrs-full_WeightedAverageSharePriceShareOptionsGranted2019_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019_lbl" xml:lang="en-US">Contractual life</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" xlink:to="ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_WeightedAverageExpectedExerciseFactor" xlink:href="mgic-20221231.xsd#mgic_WeightedAverageExpectedExerciseFactor"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_WeightedAverageExpectedExerciseFactor_lbl" xml:lang="en-US">Expected exercise factor</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageExpectedExerciseFactor" xlink:to="mgic_WeightedAverageExpectedExerciseFactor_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted_lbl" xml:lang="en-US">Dividend yield</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted" xlink:to="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted_lbl" xml:lang="en-US">Expected volatility (weighted average)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:to="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted_lbl" xml:lang="en-US">Risk-free interest rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:to="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FairValueOfOptionAtTheGrantDate" xlink:href="mgic-20221231.xsd#mgic_FairValueOfOptionAtTheGrantDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_FairValueOfOptionAtTheGrantDate_lbl" xml:lang="en-US">Fair value of option at the grant date (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FairValueOfOptionAtTheGrantDate" xlink:to="mgic_FairValueOfOptionAtTheGrantDate_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory_lbl" xml:lang="en-US">Schedule of employee option activity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory" xlink:to="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_WeightedAverageRemainingContractualTermOutstandingBeginning" xlink:href="mgic-20221231.xsd#mgic_WeightedAverageRemainingContractualTermOutstandingBeginning"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_WeightedAverageRemainingContractualTermOutstandingBeginning_lbl" xml:lang="en-US">Weighted average remaining contractual term, Outstanding Beginning</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageRemainingContractualTermOutstandingBeginning" xlink:to="mgic_WeightedAverageRemainingContractualTermOutstandingBeginning_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019_lbl" xml:lang="en-US">Weighted average exercise price, Exercised</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019_lbl" xml:lang="en-US">Weighted average exercise price, Forfeited</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_WeightedAverageRemainingContractualTermOutstandingEnding" xlink:href="mgic-20221231.xsd#mgic_WeightedAverageRemainingContractualTermOutstandingEnding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_WeightedAverageRemainingContractualTermOutstandingEnding_lbl" xml:lang="en-US">Weighted average remaining contractual term, Outstanding Ending</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageRemainingContractualTermOutstandingEnding" xlink:to="mgic_WeightedAverageRemainingContractualTermOutstandingEnding_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement_lbl" xml:lang="en-US">Number of options, Exercisable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019_lbl" xml:lang="en-US">Weighted average exercise price, Exercisable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_WeightedAverageRemainingContractualTermExercisable" xlink:href="mgic-20221231.xsd#mgic_WeightedAverageRemainingContractualTermExercisable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_WeightedAverageRemainingContractualTermExercisable_lbl" xml:lang="en-US">Weighted average remaining contractual term, Exercisable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageRemainingContractualTermExercisable" xlink:to="mgic_WeightedAverageRemainingContractualTermExercisable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedCompensationAggregateIntrinsicValueExercisable" xlink:href="mgic-20221231.xsd#mgic_ShareBasedCompensationAggregateIntrinsicValueExercisable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ShareBasedCompensationAggregateIntrinsicValueExercisable_lbl" xml:lang="en-US">Aggregate intrinsic value, Exercisable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedCompensationAggregateIntrinsicValueExercisable" xlink:to="mgic_ShareBasedCompensationAggregateIntrinsicValueExercisable_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_lbl" xml:lang="en-US">Number of options, Granted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019_lbl" xml:lang="en-US">Weighted average exercise price, Granted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory_lbl" xml:lang="en-US">Schedule of options outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory" xlink:to="ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement_lbl" xml:lang="en-US">Options outstanding, Exercise price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_WeightedAverageRemainingContractualLifeExercisePrice" xlink:href="mgic-20221231.xsd#mgic_WeightedAverageRemainingContractualLifeExercisePrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_WeightedAverageRemainingContractualLifeExercisePrice_lbl" xml:lang="en-US">Weighted average remaining contractual life, Exercise price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageRemainingContractualLifeExercisePrice" xlink:to="mgic_WeightedAverageRemainingContractualLifeExercisePrice_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice" xlink:href="mgic-20221231.xsd#mgic_WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice_lbl" xml:lang="en-US">Options exercisable, Exercise price (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice" xlink:to="mgic_WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019_lbl" xml:lang="en-US">Weighted average exercise price of exercisable options, Exercise price (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019" xlink:to="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ExplanationOfEffectOfSharebasedPaymentsOnProfitOrLoss" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ExplanationOfEffectOfSharebasedPaymentsOnProfitOrLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ExplanationOfEffectOfSharebasedPaymentsOnProfitOrLoss_lbl" xml:lang="en-US">Schedule of share-based payment expense related to employee stock option</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExplanationOfEffectOfSharebasedPaymentsOnProfitOrLoss" xlink:to="ifrs-full_ExplanationOfEffectOfSharebasedPaymentsOnProfitOrLoss_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory_lbl" xml:lang="en-US">EMPLOYEE BENEFIT LIABILITIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory" xlink:to="ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfDefinedBenefitPlansExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfDefinedBenefitPlansExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfDefinedBenefitPlansExplanatory_lbl" xml:lang="en-US">Schedule of defined benefit plans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDefinedBenefitPlansExplanatory" xlink:to="ifrs-full_DisclosureOfDefinedBenefitPlansExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DefinedBenefitObligationAtPresentValue" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DefinedBenefitObligationAtPresentValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DefinedBenefitObligationAtPresentValue_lbl" xml:lang="en-US">Defined benefit obligation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DefinedBenefitObligationAtPresentValue" xlink:to="ifrs-full_DefinedBenefitObligationAtPresentValue_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_PlanAssetsAtFairValue" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PlanAssetsAtFairValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PlanAssetsAtFairValue_lbl" xml:lang="en-US">Fair value of plan assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PlanAssetsAtFairValue" xlink:to="ifrs-full_PlanAssetsAtFairValue_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentProvisionsForEmployeeBenefits" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncurrentProvisionsForEmployeeBenefits"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentProvisionsForEmployeeBenefits_lbl" xml:lang="en-US">Net defined benefit liability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentProvisionsForEmployeeBenefits" xlink:to="ifrs-full_NoncurrentProvisionsForEmployeeBenefits_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory_lbl" xml:lang="en-US">COMMITMENTS AND CONTINGENCIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:to="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfReservesAndOtherEquityInterestExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfReservesAndOtherEquityInterestExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfReservesAndOtherEquityInterestExplanatory_lbl" xml:lang="en-US">EQUITY</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfReservesAndOtherEquityInterestExplanatory" xlink:to="ifrs-full_DisclosureOfReservesAndOtherEquityInterestExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfAccumulatedOtherComprehensiveIncomeLossExplanatory" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfAccumulatedOtherComprehensiveIncomeLossExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ScheduleOfAccumulatedOtherComprehensiveIncomeLossExplanatory_lbl" xml:lang="en-US">Schedule of accumulated other comprehensive income (loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfAccumulatedOtherComprehensiveIncomeLossExplanatory" xlink:to="mgic_ScheduleOfAccumulatedOtherComprehensiveIncomeLossExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax_lbl" xml:lang="en-US">Accumulated foreign currency translation adjustments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" xlink:to="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccumulatedUnrealizedGainOnDerivativeInstrumentsNet" xlink:href="mgic-20221231.xsd#mgic_AccumulatedUnrealizedGainOnDerivativeInstrumentsNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AccumulatedUnrealizedGainOnDerivativeInstrumentsNet_lbl" xml:lang="en-US">Accumulated unrealized gain on derivative instruments, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedUnrealizedGainOnDerivativeInstrumentsNet" xlink:to="mgic_AccumulatedUnrealizedGainOnDerivativeInstrumentsNet_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfIncomeTaxExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfIncomeTaxExplanatory_lbl" xml:lang="en-US">INCOME TAX</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:to="ifrs-full_DisclosureOfIncomeTaxExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="srt_ScheduleOfCondensedFinancialStatementsTableTextBlock" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_ScheduleOfCondensedFinancialStatementsTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_ScheduleOfCondensedFinancialStatementsTableTextBlock_lbl" xml:lang="en-US">Schedule of presentation in the consolidated statements of financial position</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ScheduleOfCondensedFinancialStatementsTableTextBlock" xlink:to="srt_ScheduleOfCondensedFinancialStatementsTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DeferredTaxesAssets" xlink:href="mgic-20221231.xsd#mgic_DeferredTaxesAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DeferredTaxesAssets_lbl" xml:lang="en-US">Deferred taxes assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredTaxesAssets" xlink:to="mgic_DeferredTaxesAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_Total" xlink:href="mgic-20221231.xsd#mgic_Total"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="mgic_Total_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_Total" xlink:to="mgic_Total_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfCompositionOfDeferredTaxesTableTextBlock" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfCompositionOfDeferredTaxesTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisclosureOfCompositionOfDeferredTaxesTableTextBlock_lbl" xml:lang="en-US">Schedule of composition of deferred taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfCompositionOfDeferredTaxesTableTextBlock" xlink:to="mgic_DisclosureOfCompositionOfDeferredTaxesTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_NetOperatingLossesCarriedForward" xlink:href="mgic-20221231.xsd#mgic_NetOperatingLossesCarriedForward"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_NetOperatingLossesCarriedForward_lbl" xml:lang="en-US">Net operating losses carried forward</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetOperatingLossesCarriedForward" xlink:to="mgic_NetOperatingLossesCarriedForward_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IntangiblesFixedAssetLeaseLiabilitiesAndRightOfUseAssets" xlink:href="mgic-20221231.xsd#mgic_IntangiblesFixedAssetLeaseLiabilitiesAndRightOfUseAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_IntangiblesFixedAssetLeaseLiabilitiesAndRightOfUseAssets_lbl" xml:lang="en-US">Intangibles, fixed asset, lease liabilities and right of use assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangiblesFixedAssetLeaseLiabilitiesAndRightOfUseAssets" xlink:to="mgic_IntangiblesFixedAssetLeaseLiabilitiesAndRightOfUseAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ReservesAndAllowances" xlink:href="mgic-20221231.xsd#mgic_ReservesAndAllowances"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ReservesAndAllowances_lbl" xml:lang="en-US">Reserves and allowances</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ReservesAndAllowances" xlink:to="mgic_ReservesAndAllowances_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CompositionofDeferredTaxesTotal" xlink:href="mgic-20221231.xsd#mgic_CompositionofDeferredTaxesTotal"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CompositionofDeferredTaxesTotal_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CompositionofDeferredTaxesTotal" xlink:to="mgic_CompositionofDeferredTaxesTotal_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfIncomeTaxTableTextBlock" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfIncomeTaxTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisclosureOfIncomeTaxTableTextBlock_lbl" xml:lang="en-US">Schedule of income tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfIncomeTaxTableTextBlock" xlink:to="mgic_DisclosureOfIncomeTaxTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CurrentAbstract" xlink:href="mgic-20221231.xsd#mgic_CurrentAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CurrentAbstract_lbl" xml:lang="en-US">Current:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CurrentAbstract" xlink:to="mgic_CurrentAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CurrentFederalTaxExpenseBenefi" xlink:href="mgic-20221231.xsd#mgic_CurrentFederalTaxExpenseBenefi"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CurrentFederalTaxExpenseBenefi_lbl" xml:lang="en-US">Domestic</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CurrentFederalTaxExpenseBenefi" xlink:to="mgic_CurrentFederalTaxExpenseBenefi_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ForeignTaxExpenseBenefit" xlink:href="mgic-20221231.xsd#mgic_ForeignTaxExpenseBenefit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ForeignTaxExpenseBenefit_lbl" xml:lang="en-US">Foreign</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ForeignTaxExpenseBenefit" xlink:to="mgic_ForeignTaxExpenseBenefit_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract96" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract96"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract96_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract96" xlink:to="mgic_UnlabeledAbstract96_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IncomeTaxExpensesBenefit" xlink:href="mgic-20221231.xsd#mgic_IncomeTaxExpensesBenefit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_IncomeTaxExpensesBenefit_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncomeTaxExpensesBenefit" xlink:to="mgic_IncomeTaxExpensesBenefit_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DeferredTaxesAbstract" xlink:href="mgic-20221231.xsd#mgic_DeferredTaxesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DeferredTaxesAbstract_lbl" xml:lang="en-US">Deferred taxes:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredTaxesAbstract" xlink:to="mgic_DeferredTaxesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DeferredForeignIncomeTaxExpenseBenefi" xlink:href="mgic-20221231.xsd#mgic_DeferredForeignIncomeTaxExpenseBenefi"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DeferredForeignIncomeTaxExpenseBenefi_lbl" xml:lang="en-US">Foreign</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredForeignIncomeTaxExpenseBenefi" xlink:to="mgic_DeferredForeignIncomeTaxExpenseBenefi_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract97" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract97"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract97_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract97" xlink:to="mgic_UnlabeledAbstract97_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DeferredIncomeTaxExpensesBenefit" xlink:href="mgic-20221231.xsd#mgic_DeferredIncomeTaxExpensesBenefit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DeferredIncomeTaxExpensesBenefit_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredIncomeTaxExpensesBenefit" xlink:to="mgic_DeferredIncomeTaxExpensesBenefit_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract98" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract98"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract98_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract98" xlink:to="mgic_UnlabeledAbstract98_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TaxesOnIncome" xlink:href="mgic-20221231.xsd#mgic_TaxesOnIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TaxesOnIncome_lbl" xml:lang="en-US">Taxes on income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TaxesOnIncome" xlink:to="mgic_TaxesOnIncome_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfTheoreticalTaxExpenseTableTextBlock" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfTheoreticalTaxExpenseTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisclosureOfTheoreticalTaxExpenseTableTextBlock_lbl" xml:lang="en-US">Schedule of theoretical tax expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfTheoreticalTaxExpenseTableTextBlock" xlink:to="mgic_DisclosureOfTheoreticalTaxExpenseTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IncomeBeforeIncomeTaxesAsPerTheStatementOfOperations" xlink:href="mgic-20221231.xsd#mgic_IncomeBeforeIncomeTaxesAsPerTheStatementOfOperations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_IncomeBeforeIncomeTaxesAsPerTheStatementOfOperations_lbl" xml:lang="en-US">Income before income taxes, as per the statement of operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncomeBeforeIncomeTaxesAsPerTheStatementOfOperations" xlink:to="mgic_IncomeBeforeIncomeTaxesAsPerTheStatementOfOperations_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_StatutoryTaxRatePercentage" xlink:href="mgic-20221231.xsd#mgic_StatutoryTaxRatePercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_StatutoryTaxRatePercentage_lbl" xml:lang="en-US">Statutory tax rate in Israel</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_StatutoryTaxRatePercentage" xlink:to="mgic_StatutoryTaxRatePercentage_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TaxComputedAtTheStatutoryTaxRate" xlink:href="mgic-20221231.xsd#mgic_TaxComputedAtTheStatutoryTaxRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TaxComputedAtTheStatutoryTaxRate_lbl" xml:lang="en-US">Tax computed at the statutory tax rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TaxComputedAtTheStatutoryTaxRate" xlink:to="mgic_TaxComputedAtTheStatutoryTaxRate_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract99" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract99"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract99_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract99" xlink:to="mgic_UnlabeledAbstract99_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForDeferredTaxExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdjustmentsForDeferredTaxExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForDeferredTaxExpense_lbl" xml:lang="en-US">Tax adjustment in respect of different tax rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDeferredTaxExpense" xlink:to="ifrs-full_AdjustmentsForDeferredTaxExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DeferredTaxesOnLossesForWhichDeferredTaxesWereNotCreated" xlink:href="mgic-20221231.xsd#mgic_DeferredTaxesOnLossesForWhichDeferredTaxesWereNotCreated"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DeferredTaxesOnLossesForWhichDeferredTaxesWereNotCreated_lbl" xml:lang="en-US">Deferred taxes on losses for which deferred taxes were not created</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredTaxesOnLossesForWhichDeferredTaxesWereNotCreated" xlink:to="mgic_DeferredTaxesOnLossesForWhichDeferredTaxesWereNotCreated_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome_lbl" xml:lang="en-US">Tax-deductible costs, not included in the accounting costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome" xlink:to="ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_NondeductibleExpensesAndTaxExpensesInRespectOfPriorYearsNet" xlink:href="mgic-20221231.xsd#mgic_NondeductibleExpensesAndTaxExpensesInRespectOfPriorYearsNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_NondeductibleExpensesAndTaxExpensesInRespectOfPriorYearsNet_lbl" xml:lang="en-US">Non-deductible expenses and tax expenses in respect of prior years, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NondeductibleExpensesAndTaxExpensesInRespectOfPriorYearsNet" xlink:to="mgic_NondeductibleExpensesAndTaxExpensesInRespectOfPriorYearsNet_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UncertainTaxPositionsAndOther" xlink:href="mgic-20221231.xsd#mgic_UncertainTaxPositionsAndOther"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UncertainTaxPositionsAndOther_lbl" xml:lang="en-US">Uncertain tax positions and other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UncertainTaxPositionsAndOther" xlink:to="mgic_UncertainTaxPositionsAndOther_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods_lbl" xml:lang="en-US">Taxes on income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods" xlink:to="ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfRevenueExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfRevenueExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfRevenueExplanatory_lbl" xml:lang="en-US">REVENUE RECOGNITION</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfRevenueExplanatory" xlink:to="ifrs-full_DisclosureOfRevenueExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfDeferredRevenuesFromContractsWithCustomersTableTextBlock" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfDeferredRevenuesFromContractsWithCustomersTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ScheduleOfDeferredRevenuesFromContractsWithCustomersTableTextBlock_lbl" xml:lang="en-US">Schedule of deferred revenues from contracts with customers</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfDeferredRevenuesFromContractsWithCustomersTableTextBlock" xlink:to="mgic_ScheduleOfDeferredRevenuesFromContractsWithCustomersTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DeferredTaxLiabilityAsset" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DeferredTaxLiabilityAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredTaxLiabilityAsset_lbl" xml:lang="en-US">Trade receivables (net of allowance for credit losses of $3,967, $5,071 and $5,416 at January 1, 2021, December 31, 2021 and 2022, respectively)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilityAsset" xlink:to="ifrs-full_DeferredTaxLiabilityAsset_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AllowanceAccountForCreditLosses" xlink:href="mgic-20221231.xsd#mgic_AllowanceAccountForCreditLosses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AllowanceAccountForCreditLosses_lbl" xml:lang="en-US">Net of allowance for credit losses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AllowanceAccountForCreditLosses" xlink:to="mgic_AllowanceAccountForCreditLosses_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnbilledReceivables" xlink:href="mgic-20221231.xsd#mgic_UnbilledReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnbilledReceivables_lbl" xml:lang="en-US">Unbilled receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnbilledReceivables" xlink:to="mgic_UnbilledReceivables_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ContractAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ContractAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ContractAssets_lbl" xml:lang="en-US">Contract assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ContractAssets" xlink:to="ifrs-full_ContractAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherNoncurrentReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherNoncurrentReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherNoncurrentReceivables_lbl" xml:lang="en-US">Long-term unbilled receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNoncurrentReceivables" xlink:to="ifrs-full_OtherNoncurrentReceivables_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncurrentTradeReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncurrentTradeReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentTradeReceivables_lbl" xml:lang="en-US">Long-term trade receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentTradeReceivables" xlink:to="ifrs-full_NoncurrentTradeReceivables_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherNonfinancialLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherNonfinancialLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherNonfinancialLiabilities_lbl" xml:lang="en-US">Deferred revenues (short-term contract liabilities)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNonfinancialLiabilities" xlink:to="ifrs-full_OtherNonfinancialLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersExplanatory_lbl" xml:lang="en-US">Schedule of past due but not impaired trade receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersExplanatory" xlink:to="ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TotalTradeReceivablesNet" xlink:href="mgic-20221231.xsd#mgic_TotalTradeReceivablesNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TotalTradeReceivablesNet_lbl" xml:lang="en-US">Total trade receivables, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalTradeReceivablesNet" xlink:to="mgic_TotalTradeReceivablesNet_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AnalysisOfAgeOfFinancialAssetsThatArePastDueButNotImpaired" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AnalysisOfAgeOfFinancialAssetsThatArePastDueButNotImpaired"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AnalysisOfAgeOfFinancialAssetsThatArePastDueButNotImpaired_lbl" xml:lang="en-US">Schedule of revenue by timing of revenue recognition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AnalysisOfAgeOfFinancialAssetsThatArePastDueButNotImpaired" xlink:to="ifrs-full_AnalysisOfAgeOfFinancialAssetsThatArePastDueButNotImpaired_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ProductsAndServicesTransferredOverTime" xlink:href="mgic-20221231.xsd#mgic_ProductsAndServicesTransferredOverTime"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ProductsAndServicesTransferredOverTime_lbl" xml:lang="en-US">Products and services transferred over time</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ProductsAndServicesTransferredOverTime" xlink:to="mgic_ProductsAndServicesTransferredOverTime_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ProductsTransferredAtAPointInTime" xlink:href="mgic-20221231.xsd#mgic_ProductsTransferredAtAPointInTime"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ProductsTransferredAtAPointInTime_lbl" xml:lang="en-US">Products transferred at a point in time</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ProductsTransferredAtAPointInTime" xlink:to="mgic_ProductsTransferredAtAPointInTime_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RevenueFromContractsWithCustomers" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RevenueFromContractsWithCustomers"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_RevenueFromContractsWithCustomers_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromContractsWithCustomers" xlink:to="ifrs-full_RevenueFromContractsWithCustomers_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory_lbl" xml:lang="en-US">SELECTED STATEMENTS OF INCOME DATA</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory" xlink:to="ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ResearchAndDevelopmentCostsNetTableTextBlock" xlink:href="mgic-20221231.xsd#mgic_ResearchAndDevelopmentCostsNetTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ResearchAndDevelopmentCostsNetTableTextBlock_lbl" xml:lang="en-US">Schedule of research and development costs, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ResearchAndDevelopmentCostsNetTableTextBlock" xlink:to="mgic_ResearchAndDevelopmentCostsNetTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TotalResearchandDevelopment" xlink:href="mgic-20221231.xsd#mgic_TotalResearchandDevelopment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TotalResearchandDevelopment_lbl" xml:lang="en-US">Total costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalResearchandDevelopment" xlink:to="mgic_TotalResearchandDevelopment_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfSellingAndMarketingExpensesTableTextBlock" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfSellingAndMarketingExpensesTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ScheduleOfSellingAndMarketingExpensesTableTextBlock_lbl" xml:lang="en-US">Schedule of selling and marketing expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfSellingAndMarketingExpensesTableTextBlock" xlink:to="mgic_ScheduleOfSellingAndMarketingExpensesTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_WagesAndSalaries" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_WagesAndSalaries"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WagesAndSalaries_lbl" xml:lang="en-US">Salary and related expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WagesAndSalaries" xlink:to="ifrs-full_WagesAndSalaries_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdvertisingExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdvertisingExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdvertisingExpense_lbl" xml:lang="en-US">Advertising expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdvertisingExpense" xlink:to="ifrs-full_AdvertisingExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment_lbl" xml:lang="en-US">Cost of share-based payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:to="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherExpenseByNature" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherExpenseByNature"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherExpenseByNature_lbl" xml:lang="en-US">Others</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherExpenseByNature" xlink:to="ifrs-full_OtherExpenseByNature_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory_lbl" xml:lang="en-US">Schedule of general and administrative expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:to="ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_Subcontractors" xlink:href="mgic-20221231.xsd#mgic_Subcontractors"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_Subcontractors_lbl" xml:lang="en-US">Subcontractors</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_Subcontractors" xlink:to="mgic_Subcontractors_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfFinancialLiabilitiesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfFinancialLiabilitiesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfFinancialLiabilitiesExplanatory_lbl" xml:lang="en-US">Schedule of financial income and expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFinancialLiabilitiesExplanatory" xlink:to="ifrs-full_DisclosureOfFinancialLiabilitiesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FinancialExpensesAbstract" xlink:href="mgic-20221231.xsd#mgic_FinancialExpensesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_FinancialExpensesAbstract_lbl" xml:lang="en-US">Financial expenses:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FinancialExpensesAbstract" xlink:to="mgic_FinancialExpensesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FinancialExpensesRelatedToLiabilitiesInRespectOfBusinessCombinations" xlink:href="mgic-20221231.xsd#mgic_FinancialExpensesRelatedToLiabilitiesInRespectOfBusinessCombinations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_FinancialExpensesRelatedToLiabilitiesInRespectOfBusinessCombinations_lbl" xml:lang="en-US">Financial expenses related to liabilities in respect of business combinations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FinancialExpensesRelatedToLiabilitiesInRespectOfBusinessCombinations" xlink:to="mgic_FinancialExpensesRelatedToLiabilitiesInRespectOfBusinessCombinations_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_InterestExpenseOnBorrowings" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_InterestExpenseOnBorrowings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestExpenseOnBorrowings_lbl" xml:lang="en-US">Interest expenses on loans and borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestExpenseOnBorrowings" xlink:to="ifrs-full_InterestExpenseOnBorrowings_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_InterestExpenseOnLeaseLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_InterestExpenseOnLeaseLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestExpenseOnLeaseLiabilities_lbl" xml:lang="en-US">Interest expenses attributed to leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestExpenseOnLeaseLiabilities" xlink:to="ifrs-full_InterestExpenseOnLeaseLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BankAndSimilarCharges" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_BankAndSimilarCharges"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BankAndSimilarCharges_lbl" xml:lang="en-US">Bank charges, negative foreign exchange differences and other financial expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BankAndSimilarCharges" xlink:to="ifrs-full_BankAndSimilarCharges_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_FinanceCosts" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinanceCosts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinanceCosts_lbl" xml:lang="en-US">Total financial expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceCosts" xlink:to="ifrs-full_FinanceCosts_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FinancialIncomeAbstract" xlink:href="mgic-20221231.xsd#mgic_FinancialIncomeAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_FinancialIncomeAbstract_lbl" xml:lang="en-US">Financial income:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FinancialIncomeAbstract" xlink:to="mgic_FinancialIncomeAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ForeignExchangeLoss" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ForeignExchangeLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ForeignExchangeLoss_lbl" xml:lang="en-US">Interest income from deposits, positive foreign exchange differences and other financial income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ForeignExchangeLoss" xlink:to="ifrs-full_ForeignExchangeLoss_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract100" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract100"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract100_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract100" xlink:to="mgic_UnlabeledAbstract100_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherFinanceIncomeCost" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherFinanceIncomeCost"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherFinanceIncomeCost_lbl" xml:lang="en-US">Financial expenses, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherFinanceIncomeCost" xlink:to="ifrs-full_OtherFinanceIncomeCost_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfEarningsPerShareExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfEarningsPerShareExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfEarningsPerShareExplanatory_lbl" xml:lang="en-US">Schedule of computation of basic and diluted net earnings per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfEarningsPerShareExplanatory" xlink:to="ifrs-full_DisclosureOfEarningsPerShareExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_NumeratorAbstract" xlink:href="mgic-20221231.xsd#mgic_NumeratorAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_NumeratorAbstract_lbl" xml:lang="en-US">Numerator:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NumeratorAbstract" xlink:to="mgic_NumeratorAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_NetIncomeAttributableToMagicShareholdersinDollarsPerShare" xlink:href="mgic-20221231.xsd#mgic_NetIncomeAttributableToMagicShareholdersinDollarsPerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_NetIncomeAttributableToMagicShareholdersinDollarsPerShare_lbl" xml:lang="en-US">Net income attributable to Magic shareholders (in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetIncomeAttributableToMagicShareholdersinDollarsPerShare" xlink:to="mgic_NetIncomeAttributableToMagicShareholdersinDollarsPerShare_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DenominatorAbstract" xlink:href="mgic-20221231.xsd#mgic_DenominatorAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DenominatorAbstract_lbl" xml:lang="en-US">Denominator:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DenominatorAbstract" xlink:to="mgic_DenominatorAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_WeightedAverageShares" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_WeightedAverageShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_WeightedAverageShares_lbl" xml:lang="en-US">Basic earnings per share - weighted average shares outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageShares" xlink:to="ifrs-full_WeightedAverageShares_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EffectOfDilutiveSecurities" xlink:href="mgic-20221231.xsd#mgic_EffectOfDilutiveSecurities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_EffectOfDilutiveSecurities_lbl" xml:lang="en-US">Effect of dilutive securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EffectOfDilutiveSecurities" xlink:to="mgic_EffectOfDilutiveSecurities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustedWeightedAverageShares" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdjustedWeightedAverageShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustedWeightedAverageShares_lbl" xml:lang="en-US">Diluted earnings per share &#8211; adjusted weighted average shares outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustedWeightedAverageShares" xlink:to="ifrs-full_AdjustedWeightedAverageShares_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory_lbl" xml:lang="en-US">OPERATING SEGMENTS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:to="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfResultsOfOperationsAndProspectsExplanatory" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfResultsOfOperationsAndProspectsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisclosureOfResultsOfOperationsAndProspectsExplanatory_lbl" xml:lang="en-US">Schedule of reported segment results of operation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfResultsOfOperationsAndProspectsExplanatory" xlink:to="mgic_DisclosureOfResultsOfOperationsAndProspectsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_a2022Abstract0" xlink:href="mgic-20221231.xsd#mgic_a2022Abstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_a2022Abstract0_lbl" xml:lang="en-US">2022</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_a2022Abstract0" xlink:to="mgic_a2022Abstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract101" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract101"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract101_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract101" xlink:to="mgic_UnlabeledAbstract101_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AmortisationExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AmortisationExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AmortisationExpense_lbl" xml:lang="en-US">Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmortisationExpense" xlink:to="ifrs-full_AmortisationExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract102" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract102"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract102_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract102" xlink:to="mgic_UnlabeledAbstract102_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract103" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract103"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract103_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract103" xlink:to="mgic_UnlabeledAbstract103_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DepreciationAndAmortisationExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DepreciationAndAmortisationExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DepreciationAndAmortisationExpense_lbl" xml:lang="en-US">Depreciation and amortization</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationAndAmortisationExpense" xlink:to="ifrs-full_DepreciationAndAmortisationExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract104" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract104"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract104_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract104" xlink:to="mgic_UnlabeledAbstract104_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_a2021Abstract" xlink:href="mgic-20221231.xsd#mgic_a2021Abstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_a2021Abstract_lbl" xml:lang="en-US">2021</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_a2021Abstract" xlink:to="mgic_a2021Abstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract105" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract105"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract105_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract105" xlink:to="mgic_UnlabeledAbstract105_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract106" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract106"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract106_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract106" xlink:to="mgic_UnlabeledAbstract106_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract107" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract107"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract107_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract107" xlink:to="mgic_UnlabeledAbstract107_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfRevenuesClassifiedToGeographicalDestinationExplanatory" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfRevenuesClassifiedToGeographicalDestinationExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ScheduleOfRevenuesClassifiedToGeographicalDestinationExplanatory_lbl" xml:lang="en-US">Schedule of long-lived assets classified according to geographical destination</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfRevenuesClassifiedToGeographicalDestinationExplanatory" xlink:to="mgic_ScheduleOfRevenuesClassifiedToGeographicalDestinationExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TotalRevenues" xlink:href="mgic-20221231.xsd#mgic_TotalRevenues"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TotalRevenues_lbl" xml:lang="en-US">Total revenues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalRevenues" xlink:to="mgic_TotalRevenues_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfLonglivedAssetsExplanatory" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfLonglivedAssetsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ScheduleOfLonglivedAssetsExplanatory_lbl" xml:lang="en-US">Schedule of long-lived assets classified according to geographical destination</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfLonglivedAssetsExplanatory" xlink:to="mgic_ScheduleOfLonglivedAssetsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LonglivedAssets" xlink:href="mgic-20221231.xsd#mgic_LonglivedAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LonglivedAssets_lbl" xml:lang="en-US">Total long-lived assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LonglivedAssets" xlink:to="mgic_LonglivedAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfTransitionToIFRSTextBlock" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfTransitionToIFRSTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DisclosureOfTransitionToIFRSTextBlock_lbl" xml:lang="en-US">TRANSITION TO IFRS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfTransitionToIFRSTextBlock" xlink:to="mgic_DisclosureOfTransitionToIFRSTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfFinanceIncomeExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfFinanceIncomeExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfFinanceIncomeExplanatory_lbl" xml:lang="en-US">Schedule of consolidated statement of profit or loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFinanceIncomeExplanatory" xlink:to="ifrs-full_DisclosureOfFinanceIncomeExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract108" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract108"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract108_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract108" xlink:to="mgic_UnlabeledAbstract108_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LongTermAssetsAbstract" xlink:href="mgic-20221231.xsd#mgic_LongTermAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LongTermAssetsAbstract_lbl" xml:lang="en-US">LONG-TERM ASSETS:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LongTermAssetsAbstract" xlink:to="mgic_LongTermAssetsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SeverancePayFund" xlink:href="mgic-20221231.xsd#mgic_SeverancePayFund"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_SeverancePayFund_lbl" xml:lang="en-US">Severance pay fund</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SeverancePayFund" xlink:to="mgic_SeverancePayFund_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DeferredTaxAssetsNonCurrent" xlink:href="mgic-20221231.xsd#mgic_DeferredTaxAssetsNonCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DeferredTaxAssetsNonCurrent_lbl" xml:lang="en-US">Deferred taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredTaxAssetsNonCurrent" xlink:to="mgic_DeferredTaxAssetsNonCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract109" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract109"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract109_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract109" xlink:to="mgic_UnlabeledAbstract109_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LiabilitiesAndEquityAbstract" xlink:href="mgic-20221231.xsd#mgic_LiabilitiesAndEquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LiabilitiesAndEquityAbstract_lbl" xml:lang="en-US">LIABILITIES AND EQUITY</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LiabilitiesAndEquityAbstract" xlink:to="mgic_LiabilitiesAndEquityAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract110" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract110"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract110_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract110" xlink:to="mgic_UnlabeledAbstract110_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LongTermLiabilitiesAbstract" xlink:href="mgic-20221231.xsd#mgic_LongTermLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LongTermLiabilitiesAbstract_lbl" xml:lang="en-US">LONG-TERM LIABILITIES:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LongTermLiabilitiesAbstract" xlink:to="mgic_LongTermLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DeferredTaxLiabilitiesNonCurrent" xlink:href="mgic-20221231.xsd#mgic_DeferredTaxLiabilitiesNonCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DeferredTaxLiabilitiesNonCurrent_lbl" xml:lang="en-US">Deferred taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredTaxLiabilitiesNonCurrent" xlink:to="mgic_DeferredTaxLiabilitiesNonCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract111" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract111"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract111_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract111" xlink:to="mgic_UnlabeledAbstract111_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_RedeemableNonControllingInterest" xlink:href="mgic-20221231.xsd#mgic_RedeemableNonControllingInterest"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_RedeemableNonControllingInterest_lbl" xml:lang="en-US">REDEEMABLE NON-CONTROLLING INTEREST</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RedeemableNonControllingInterest" xlink:to="mgic_RedeemableNonControllingInterest_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract112" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract112"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract112_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract112" xlink:to="mgic_UnlabeledAbstract112_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AssetsAbstract0" xlink:href="mgic-20221231.xsd#mgic_AssetsAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AssetsAbstract0_lbl" xml:lang="en-US">ASSETS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AssetsAbstract0" xlink:to="mgic_AssetsAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CurrentAssetsAbstract0" xlink:href="mgic-20221231.xsd#mgic_CurrentAssetsAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CurrentAssetsAbstract0_lbl" xml:lang="en-US">CURRENT ASSETS:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CurrentAssetsAbstract0" xlink:to="mgic_CurrentAssetsAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract113" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract113"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract113_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract113" xlink:to="mgic_UnlabeledAbstract113_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LongTermAssetsAbstract0" xlink:href="mgic-20221231.xsd#mgic_LongTermAssetsAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LongTermAssetsAbstract0_lbl" xml:lang="en-US">LONG-TERM ASSETS:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LongTermAssetsAbstract0" xlink:to="mgic_LongTermAssetsAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract114" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract114"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract114_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract114" xlink:to="mgic_UnlabeledAbstract114_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LiabilitiesAndEquityAbstract0" xlink:href="mgic-20221231.xsd#mgic_LiabilitiesAndEquityAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LiabilitiesAndEquityAbstract0_lbl" xml:lang="en-US">LIABILITIES AND EQUITY</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LiabilitiesAndEquityAbstract0" xlink:to="mgic_LiabilitiesAndEquityAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CurrentLiabilitiesAbstract0" xlink:href="mgic-20221231.xsd#mgic_CurrentLiabilitiesAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CurrentLiabilitiesAbstract0_lbl" xml:lang="en-US">CURRENT LIABILITIES:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CurrentLiabilitiesAbstract0" xlink:to="mgic_CurrentLiabilitiesAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract115" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract115"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract115_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract115" xlink:to="mgic_UnlabeledAbstract115_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LongTermLiabilitiesAbstract0" xlink:href="mgic-20221231.xsd#mgic_LongTermLiabilitiesAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LongTermLiabilitiesAbstract0_lbl" xml:lang="en-US">LONG-TERM LIABILITIES:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LongTermLiabilitiesAbstract0" xlink:to="mgic_LongTermLiabilitiesAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract116" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract116"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract116_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract116" xlink:to="mgic_UnlabeledAbstract116_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract117" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract117"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract117_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract117" xlink:to="mgic_UnlabeledAbstract117_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EquityAbstract0" xlink:href="mgic-20221231.xsd#mgic_EquityAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_EquityAbstract0_lbl" xml:lang="en-US">EQUITY</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EquityAbstract0" xlink:to="mgic_EquityAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfOperatingSegmentsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfOperatingSegmentsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfOperatingSegmentsExplanatory_lbl" xml:lang="en-US">Schedule of consolidated statement of profit or loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfOperatingSegmentsExplanatory" xlink:to="ifrs-full_DisclosureOfOperatingSegmentsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract118" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract118"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract118_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract118" xlink:to="mgic_UnlabeledAbstract118_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract119" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract119"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract119_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract119" xlink:to="mgic_UnlabeledAbstract119_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostOfRevenuesAbstract" xlink:href="mgic-20221231.xsd#mgic_CostOfRevenuesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostOfRevenuesAbstract_lbl" xml:lang="en-US">Cost of revenues:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostOfRevenuesAbstract" xlink:to="mgic_CostOfRevenuesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract120" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract120"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract120_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract120" xlink:to="mgic_UnlabeledAbstract120_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract121" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract121"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract121_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract121" xlink:to="mgic_UnlabeledAbstract121_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract122" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract122"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract122_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract122" xlink:to="mgic_UnlabeledAbstract122_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract123" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract123"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract123_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract123" xlink:to="mgic_UnlabeledAbstract123_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract124" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract124"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract124_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract124" xlink:to="mgic_UnlabeledAbstract124_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract125" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract125"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract125_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract125" xlink:to="mgic_UnlabeledAbstract125_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract126" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract126"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract126_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract126" xlink:to="mgic_UnlabeledAbstract126_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract127" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract127"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract127_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract127" xlink:to="mgic_UnlabeledAbstract127_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AttributableToAbstract" xlink:href="mgic-20221231.xsd#mgic_AttributableToAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AttributableToAbstract_lbl" xml:lang="en-US">Attributable to:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AttributableToAbstract" xlink:to="mgic_AttributableToAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_RedeemableNoncontrollingInterests" xlink:href="mgic-20221231.xsd#mgic_RedeemableNoncontrollingInterests"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_RedeemableNoncontrollingInterests_lbl" xml:lang="en-US">Redeemable non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RedeemableNoncontrollingInterests" xlink:to="mgic_RedeemableNoncontrollingInterests_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract128" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract128"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract128_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract128" xlink:to="mgic_UnlabeledAbstract128_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_NetEarningsPerShareAttributableToCompanyShareholdersAbstract" xlink:href="mgic-20221231.xsd#mgic_NetEarningsPerShareAttributableToCompanyShareholdersAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_NetEarningsPerShareAttributableToCompanyShareholdersAbstract_lbl" xml:lang="en-US">Net earnings per share attributable to company Shareholders</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetEarningsPerShareAttributableToCompanyShareholdersAbstract" xlink:to="mgic_NetEarningsPerShareAttributableToCompanyShareholdersAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract129" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract129"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract129_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract129" xlink:to="mgic_UnlabeledAbstract129_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BasicEarningsLossPerShareFromContinuingOperations" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_BasicEarningsLossPerShareFromContinuingOperations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BasicEarningsLossPerShareFromContinuingOperations_lbl" xml:lang="en-US">Basic and diluted earnings per share (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BasicEarningsLossPerShareFromContinuingOperations" xlink:to="ifrs-full_BasicEarningsLossPerShareFromContinuingOperations_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations_lbl" xml:lang="en-US">Diluted earnings per share (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations" xlink:to="ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfEquityAttributableShareholdersTableTextBlock" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfEquityAttributableShareholdersTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ScheduleOfEquityAttributableShareholdersTableTextBlock_lbl" xml:lang="en-US">Schedule of consolidated statement of profit or loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfEquityAttributableShareholdersTableTextBlock" xlink:to="mgic_ScheduleOfEquityAttributableShareholdersTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_IssueOfEquity" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IssueOfEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IssueOfEquity_lbl" xml:lang="en-US">As reported in the Company&#8217;s consolidated financial statements as of</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssueOfEquity" xlink:to="ifrs-full_IssueOfEquity_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TransitionToIfrsAbstract" xlink:href="mgic-20221231.xsd#mgic_TransitionToIfrsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TransitionToIfrsAbstract_lbl" xml:lang="en-US">Transition to IFRS:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TransitionToIfrsAbstract" xlink:to="mgic_TransitionToIfrsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_MeasurementAdjustmentsRelatedToLeases" xlink:href="mgic-20221231.xsd#mgic_MeasurementAdjustmentsRelatedToLeases"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_MeasurementAdjustmentsRelatedToLeases_lbl" xml:lang="en-US">Measurement adjustments related to leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_MeasurementAdjustmentsRelatedToLeases" xlink:to="mgic_MeasurementAdjustmentsRelatedToLeases_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_MeasurementPeriodAdjustmentsRecognisedForParticularAssetsLiabilitiesNoncontrollingInterestsOrItemsOfConsideration" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_MeasurementPeriodAdjustmentsRecognisedForParticularAssetsLiabilitiesNoncontrollingInterestsOrItemsOfConsideration"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_MeasurementPeriodAdjustmentsRecognisedForParticularAssetsLiabilitiesNoncontrollingInterestsOrItemsOfConsideration_lbl" xml:lang="en-US">Measurement adjustments related to redeemable non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MeasurementPeriodAdjustmentsRecognisedForParticularAssetsLiabilitiesNoncontrollingInterestsOrItemsOfConsideration" xlink:to="ifrs-full_MeasurementPeriodAdjustmentsRecognisedForParticularAssetsLiabilitiesNoncontrollingInterestsOrItemsOfConsideration_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TransitionToIFRS" xlink:href="mgic-20221231.xsd#mgic_TransitionToIFRS"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TransitionToIFRS_lbl" xml:lang="en-US">Transition to IFRS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TransitionToIFRS" xlink:to="mgic_TransitionToIFRS_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract130" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract130"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract130_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract130" xlink:to="mgic_UnlabeledAbstract130_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_GainsLossesOnDisposalsOfInvestmentPropertyCarriedAtCostOrInAccordanceWithIFRS16WithinFairValueModel" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_GainsLossesOnDisposalsOfInvestmentPropertyCarriedAtCostOrInAccordanceWithIFRS16WithinFairValueModel"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_GainsLossesOnDisposalsOfInvestmentPropertyCarriedAtCostOrInAccordanceWithIFRS16WithinFairValueModel_lbl" xml:lang="en-US">Accordance with IFRS:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesOnDisposalsOfInvestmentPropertyCarriedAtCostOrInAccordanceWithIFRS16WithinFairValueModel" xlink:to="ifrs-full_GainsLossesOnDisposalsOfInvestmentPropertyCarriedAtCostOrInAccordanceWithIFRS16WithinFairValueModel_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract131" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract131"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract131_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract131" xlink:to="mgic_UnlabeledAbstract131_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TransitionToIfrsAbstract0" xlink:href="mgic-20221231.xsd#mgic_TransitionToIfrsAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TransitionToIfrsAbstract0_lbl" xml:lang="en-US">Transition to IFRS:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TransitionToIfrsAbstract0" xlink:to="mgic_TransitionToIfrsAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnlabeledAbstract132" xlink:href="mgic-20221231.xsd#mgic_UnlabeledAbstract132"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnlabeledAbstract132_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract132" xlink:to="mgic_UnlabeledAbstract132_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory_lbl" xml:lang="en-US">SUBSEQUENT EVENTS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:to="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_NetLiabilitiesExcludingCashAcquired" xlink:href="mgic-20221231.xsd#mgic_NetLiabilitiesExcludingCashAcquired"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_NetLiabilitiesExcludingCashAcquired_lbl" xml:lang="en-US">Net liabilities, excluding $1,548 of cash acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetLiabilitiesExcludingCashAcquired" xlink:to="mgic_NetLiabilitiesExcludingCashAcquired_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_NetAssetsExcludingOfCashAcquired" xlink:href="mgic-20221231.xsd#mgic_NetAssetsExcludingOfCashAcquired"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_NetAssetsExcludingOfCashAcquired_lbl" xml:lang="en-US">Net assets, excluding $147 of cash acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetAssetsExcludingOfCashAcquired" xlink:to="mgic_NetAssetsExcludingOfCashAcquired_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NetDeferredTaxLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NetDeferredTaxLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_NetDeferredTaxLiabilities_lbl" xml:lang="en-US">Net assets, excluding $447 of cash acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetDeferredTaxLiabilities" xlink:to="ifrs-full_NetDeferredTaxLiabilities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_NetDeferredTaxLiabilities_lbl0" xml:lang="en-US">Net liabilities, excluding $90 of cash acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetDeferredTaxLiabilities" xlink:to="ifrs-full_NetDeferredTaxLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:label="ifrs-full_NetDeferredTaxLiabilities_lbl1" xml:lang="en-US">Net liabilities, excluding $402 cash acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetDeferredTaxLiabilities" xlink:to="ifrs-full_NetDeferredTaxLiabilities_lbl1"/>
    <loc xlink:type="locator" xlink:label="mgic_CustomerRelationshipsNetOfDeferredTaxLiabilities" xlink:href="mgic-20221231.xsd#mgic_CustomerRelationshipsNetOfDeferredTaxLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_CustomerRelationshipsNetOfDeferredTaxLiabilities_lbl" xml:lang="en-US">Customer relationships, net of deferred tax liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CustomerRelationshipsNetOfDeferredTaxLiabilities" xlink:to="mgic_CustomerRelationshipsNetOfDeferredTaxLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate_lbl" xml:lang="en-US">Less imputed interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate" xlink:to="ifrs-full_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_lbl" xml:lang="en-US">Number of options, Exercised</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_lbl" xml:lang="en-US">Number of options, Forfeited</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SellingAndMarketingExpenses" xlink:href="mgic-20221231.xsd#mgic_SellingAndMarketingExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_SellingAndMarketingExpenses_lbl" xml:lang="en-US">Selling and marketing expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SellingAndMarketingExpenses" xlink:to="mgic_SellingAndMarketingExpenses_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_lbl" xml:lang="en-US">Deferred tax liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed_lbl" xml:lang="en-US">Domestic</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed" xlink:to="ifrs-full_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CapitalizedSoftwareCosts" xlink:href="mgic-20221231.xsd#mgic_CapitalizedSoftwareCosts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="mgic_CapitalizedSoftwareCosts_lbl" xml:lang="en-US">Less - capitalized software costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CapitalizedSoftwareCosts" xlink:to="mgic_CapitalizedSoftwareCosts_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LandAndBuildingsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LandAndBuildingsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LandAndBuildingsMember_lbl" xml:lang="en-US">Land and buildings [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LandAndBuildingsMember" xlink:to="ifrs-full_LandAndBuildingsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_MotorVehiclesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_MotorVehiclesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_MotorVehiclesMember_lbl" xml:lang="en-US">Motor vehicles [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MotorVehiclesMember" xlink:to="ifrs-full_MotorVehiclesMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_MotorVehiclesMember_lbl0" xml:lang="en-US">Motor vehicles [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MotorVehiclesMember" xlink:to="ifrs-full_MotorVehiclesMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BottomOfRangeMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_BottomOfRangeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BottomOfRangeMember_lbl" xml:lang="en-US">Bottom of range [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BottomOfRangeMember" xlink:to="ifrs-full_BottomOfRangeMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_BottomOfRangeMember_lbl0" xml:lang="en-US">Bottom of range [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BottomOfRangeMember" xlink:to="ifrs-full_BottomOfRangeMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TopOfRangeMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_TopOfRangeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TopOfRangeMember_lbl" xml:lang="en-US">Top of range [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TopOfRangeMember" xlink:to="ifrs-full_TopOfRangeMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_TopOfRangeMember_lbl0" xml:lang="en-US">Top of range [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TopOfRangeMember" xlink:to="ifrs-full_TopOfRangeMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_softwareMember" xlink:href="mgic-20221231.xsd#mgic_softwareMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_softwareMember_lbl" xml:lang="en-US">Software [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_softwareMember" xlink:to="mgic_softwareMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ComputerEquipmentMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ComputerEquipmentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ComputerEquipmentMember_lbl" xml:lang="en-US">Computers and peripheral equipment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComputerEquipmentMember" xlink:to="ifrs-full_ComputerEquipmentMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OfficeFurnitureAndEquipmentMember" xlink:href="mgic-20221231.xsd#mgic_OfficeFurnitureAndEquipmentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_OfficeFurnitureAndEquipmentMember_lbl" xml:lang="en-US">Office furniture and equipment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OfficeFurnitureAndEquipmentMember" xlink:to="mgic_OfficeFurnitureAndEquipmentMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CustomerRelationshipMember" xlink:href="mgic-20221231.xsd#mgic_CustomerRelationshipMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CustomerRelationshipMember_lbl" xml:lang="en-US">Customer relationships [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CustomerRelationshipMember" xlink:to="mgic_CustomerRelationshipMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AcquiredTechnologyMember" xlink:href="mgic-20221231.xsd#mgic_AcquiredTechnologyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AcquiredTechnologyMember_lbl" xml:lang="en-US">Acquired Technology [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquiredTechnologyMember" xlink:to="mgic_AcquiredTechnologyMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SharePurchaseAgreementMember" xlink:href="mgic-20221231.xsd#mgic_SharePurchaseAgreementMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_SharePurchaseAgreementMember_lbl" xml:lang="en-US">Share purchase agreement [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SharePurchaseAgreementMember" xlink:to="mgic_SharePurchaseAgreementMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_GoodkindGroupLLCMember" xlink:href="mgic-20221231.xsd#mgic_GoodkindGroupLLCMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_GoodkindGroupLLCMember_lbl" xml:lang="en-US">Goodkind Group, LLC [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_GoodkindGroupLLCMember" xlink:to="mgic_GoodkindGroupLLCMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ITProfessionalServicesMember" xlink:href="mgic-20221231.xsd#mgic_ITProfessionalServicesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ITProfessionalServicesMember_lbl" xml:lang="en-US">IT professional services [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ITProfessionalServicesMember" xlink:to="mgic_ITProfessionalServicesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AssetPurchaseAgreementsMember" xlink:href="mgic-20221231.xsd#mgic_AssetPurchaseAgreementsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AssetPurchaseAgreementsMember_lbl" xml:lang="en-US">Asset Purchase Agreements [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AssetPurchaseAgreementsMember" xlink:to="mgic_AssetPurchaseAgreementsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EnableITLLCMember" xlink:href="mgic-20221231.xsd#mgic_EnableITLLCMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_EnableITLLCMember_lbl" xml:lang="en-US">EnableIT, LLC [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EnableITLLCMember" xlink:to="mgic_EnableITLLCMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_MenarvaLtdMember" xlink:href="mgic-20221231.xsd#mgic_MenarvaLtdMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_MenarvaLtdMember_lbl" xml:lang="en-US">Menarva Ltd [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_MenarvaLtdMember" xlink:to="mgic_MenarvaLtdMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_YGSoftITLtdMember" xlink:href="mgic-20221231.xsd#mgic_YGSoftITLtdMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_YGSoftITLtdMember_lbl" xml:lang="en-US">Y.G. Soft IT Ltd [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_YGSoftITLtdMember" xlink:to="mgic_YGSoftITLtdMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_Level3OfFairValueHierarchyMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_Level3OfFairValueHierarchyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Level3OfFairValueHierarchyMember_lbl" xml:lang="en-US">Level 3 of fair value hierarchy [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level3OfFairValueHierarchyMember" xlink:to="ifrs-full_Level3OfFairValueHierarchyMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ComputersAndPeripheralEquipmentMember" xlink:href="mgic-20221231.xsd#mgic_ComputersAndPeripheralEquipmentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ComputersAndPeripheralEquipmentMember_lbl" xml:lang="en-US">Computers and peripheral equipment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ComputersAndPeripheralEquipmentMember" xlink:to="mgic_ComputersAndPeripheralEquipmentMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LeaseholdImprovementsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LeaseholdImprovementsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LeaseholdImprovementsMember_lbl" xml:lang="en-US">Leasehold improvements [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LeaseholdImprovementsMember" xlink:to="ifrs-full_LeaseholdImprovementsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CapitalizedSoftwareDevelopmentCostsMember" xlink:href="mgic-20221231.xsd#mgic_CapitalizedSoftwareDevelopmentCostsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CapitalizedSoftwareDevelopmentCostsMember_lbl" xml:lang="en-US">Capitalized Software Development Costs [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CapitalizedSoftwareDevelopmentCostsMember" xlink:to="mgic_CapitalizedSoftwareDevelopmentCostsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CustomersRelationshipMember" xlink:href="mgic-20221231.xsd#mgic_CustomersRelationshipMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CustomersRelationshipMember_lbl" xml:lang="en-US">Customers Relationship [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CustomersRelationshipMember" xlink:to="mgic_CustomersRelationshipMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OtherMember" xlink:href="mgic-20221231.xsd#mgic_OtherMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_OtherMember_lbl" xml:lang="en-US">Other [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OtherMember" xlink:to="mgic_OtherMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ComputerSoftwareMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ComputerSoftwareMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ComputerSoftwareMember_lbl" xml:lang="en-US">Software [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComputerSoftwareMember" xlink:to="ifrs-full_ComputerSoftwareMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ComputerSoftwareMember_lbl0" xml:lang="en-US">Capitalized software</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComputerSoftwareMember" xlink:to="ifrs-full_ComputerSoftwareMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="ifrs-full_ComputerSoftwareMember_lbl1" xml:lang="en-US">Computer software [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComputerSoftwareMember" xlink:to="ifrs-full_ComputerSoftwareMember_lbl1"/>
    <loc xlink:type="locator" xlink:label="mgic_SoftwareServicesMember" xlink:href="mgic-20221231.xsd#mgic_SoftwareServicesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_SoftwareServicesMember_lbl" xml:lang="en-US">Software services [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SoftwareServicesMember" xlink:to="mgic_SoftwareServicesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShortTermCreditFromBanksMember" xlink:href="mgic-20221231.xsd#mgic_ShortTermCreditFromBanksMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ShortTermCreditFromBanksMember_lbl" xml:lang="en-US">Short-term loans from banks [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShortTermCreditFromBanksMember" xlink:to="mgic_ShortTermCreditFromBanksMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionMember" xlink:href="mgic-20221231.xsd#mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionMember_lbl" xml:lang="en-US">Current maturities of long-term loans from financial institutions and banks [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionMember" xlink:to="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionsAndBanksMember" xlink:href="mgic-20221231.xsd#mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionsAndBanksMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionsAndBanksMember_lbl" xml:lang="en-US">Current maturities of long-term loans from banks [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionsAndBanksMember" xlink:to="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionsAndBanksMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccruedInterestOnLongTermDebtMember" xlink:href="mgic-20221231.xsd#mgic_AccruedInterestOnLongTermDebtMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AccruedInterestOnLongTermDebtMember_lbl" xml:lang="en-US">Accrued interest on long term debt [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccruedInterestOnLongTermDebtMember" xlink:to="mgic_AccruedInterestOnLongTermDebtMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccruedInterestOnLongTermDebtOneMember" xlink:href="mgic-20221231.xsd#mgic_AccruedInterestOnLongTermDebtOneMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AccruedInterestOnLongTermDebtOneMember_lbl" xml:lang="en-US">Accrued interest on long term debt [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccruedInterestOnLongTermDebtOneMember" xlink:to="mgic_AccruedInterestOnLongTermDebtOneMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LoansFromBanksAndOthersMember" xlink:href="mgic-20221231.xsd#mgic_LoansFromBanksAndOthersMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LoansFromBanksAndOthersMember_lbl" xml:lang="en-US">Loans from banks and others [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LoansFromBanksAndOthersMember" xlink:to="mgic_LoansFromBanksAndOthersMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_BankLoansMember" xlink:href="mgic-20221231.xsd#mgic_BankLoansMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_BankLoansMember_lbl" xml:lang="en-US">Bank loans [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_BankLoansMember" xlink:to="mgic_BankLoansMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OtherLongTermDebtsMember" xlink:href="mgic-20221231.xsd#mgic_OtherLongTermDebtsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_OtherLongTermDebtsMember_lbl" xml:lang="en-US">Other long term debts [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OtherLongTermDebtsMember" xlink:to="mgic_OtherLongTermDebtsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TotalLongTermDebtMember" xlink:href="mgic-20221231.xsd#mgic_TotalLongTermDebtMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TotalLongTermDebtMember_lbl" xml:lang="en-US">Total Long Term Debt [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalLongTermDebtMember" xlink:to="mgic_TotalLongTermDebtMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LessCurrentMaturitiesMember" xlink:href="mgic-20221231.xsd#mgic_LessCurrentMaturitiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LessCurrentMaturitiesMember_lbl" xml:lang="en-US">Less current maturities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LessCurrentMaturitiesMember" xlink:to="mgic_LessCurrentMaturitiesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LaterThanOneYearMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LaterThanOneYearMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanOneYearMember_lbl" xml:lang="en-US">2023 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearMember" xlink:to="ifrs-full_LaterThanOneYearMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_LaterThanOneYearMember_lbl0" xml:lang="en-US">Over 121 days [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearMember" xlink:to="ifrs-full_LaterThanOneYearMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember_lbl" xml:lang="en-US">2024 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:to="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_lbl" xml:lang="en-US">2025 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:to="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember_lbl" xml:lang="en-US">2026 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:to="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember_lbl" xml:lang="en-US">2027 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LaterThanFiveYearsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LaterThanFiveYearsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanFiveYearsMember_lbl" xml:lang="en-US">2028 and thereafter [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanFiveYearsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostMember" xlink:href="mgic-20221231.xsd#mgic_CostMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostMember_lbl" xml:lang="en-US">Cost [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostMember" xlink:to="mgic_CostMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AccumulatedDepreciationAndAmortisationMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AccumulatedDepreciationAndAmortisationMember_lbl" xml:lang="en-US">Accumulated depreciation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:to="ifrs-full_AccumulatedDepreciationAndAmortisationMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BuildingsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_BuildingsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BuildingsMember_lbl" xml:lang="en-US">Buildings [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BuildingsMember" xlink:to="ifrs-full_BuildingsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TwoThousandSevenPlanMember" xlink:href="mgic-20221231.xsd#mgic_TwoThousandSevenPlanMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TwoThousandSevenPlanMember_lbl" xml:lang="en-US">2007 Plan [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TwoThousandSevenPlanMember" xlink:to="mgic_TwoThousandSevenPlanMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mgic_TwoThousandSevenPlanMember_lbl0" xml:lang="en-US">Two Thousand Seven Plan [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TwoThousandSevenPlanMember" xlink:to="mgic_TwoThousandSevenPlanMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_CommITSolutions2022PlanMember" xlink:href="mgic-20221231.xsd#mgic_CommITSolutions2022PlanMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CommITSolutions2022PlanMember_lbl" xml:lang="en-US">Comm-IT Solutions 2022 Plan [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CommITSolutions2022PlanMember" xlink:to="mgic_CommITSolutions2022PlanMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ZeroMember" xlink:href="mgic-20221231.xsd#mgic_ZeroMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ZeroMember_lbl" xml:lang="en-US">Zero [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ZeroMember" xlink:to="mgic_ZeroMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ThreePointEightOneMember" xlink:href="mgic-20221231.xsd#mgic_ThreePointEightOneMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ThreePointEightOneMember_lbl" xml:lang="en-US">3.81 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ThreePointEightOneMember" xlink:to="mgic_ThreePointEightOneMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_StockOptionPlansOfTheCompanyMember" xlink:href="mgic-20221231.xsd#mgic_StockOptionPlansOfTheCompanyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_StockOptionPlansOfTheCompanyMember_lbl" xml:lang="en-US">Stock Option Plans of the Company [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_StockOptionPlansOfTheCompanyMember" xlink:to="mgic_StockOptionPlansOfTheCompanyMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ZeroPointTwoEightMember" xlink:href="mgic-20221231.xsd#mgic_ZeroPointTwoEightMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ZeroPointTwoEightMember_lbl" xml:lang="en-US">0.28 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ZeroPointTwoEightMember" xlink:to="mgic_ZeroPointTwoEightMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FourHunderedSixtyNineMember" xlink:href="mgic-20221231.xsd#mgic_FourHunderedSixtyNineMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_FourHunderedSixtyNineMember_lbl" xml:lang="en-US">469 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FourHunderedSixtyNineMember" xlink:to="mgic_FourHunderedSixtyNineMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OneThosandEightSeventyEightMember" xlink:href="mgic-20221231.xsd#mgic_OneThosandEightSeventyEightMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_OneThosandEightSeventyEightMember_lbl" xml:lang="en-US">1,878 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OneThosandEightSeventyEightMember" xlink:to="mgic_OneThosandEightSeventyEightMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_StockOptionPlanOfCommITSolutionsMember" xlink:href="mgic-20221231.xsd#mgic_StockOptionPlanOfCommITSolutionsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_StockOptionPlanOfCommITSolutionsMember_lbl" xml:lang="en-US">Stock Option Plan of Comm-IT Solutions [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_StockOptionPlanOfCommITSolutionsMember" xlink:to="mgic_StockOptionPlanOfCommITSolutionsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CostOfSharebasedPaymentMember" xlink:href="mgic-20221231.xsd#mgic_CostOfSharebasedPaymentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CostOfSharebasedPaymentMember_lbl" xml:lang="en-US">Cost of share-based payment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostOfSharebasedPaymentMember" xlink:to="mgic_CostOfSharebasedPaymentMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_NeitherPastDueNorImpairedMember" xlink:href="mgic-20221231.xsd#mgic_NeitherPastDueNorImpairedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_NeitherPastDueNorImpairedMember_lbl" xml:lang="en-US">Neither past due nor impaired [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NeitherPastDueNorImpairedMember" xlink:to="mgic_NeitherPastDueNorImpairedMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NotLaterThanOneMonthMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NotLaterThanOneMonthMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NotLaterThanOneMonthMember_lbl" xml:lang="en-US">Up to 30 days [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotLaterThanOneMonthMember" xlink:to="ifrs-full_NotLaterThanOneMonthMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember_lbl" xml:lang="en-US">31-60 days [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember" xlink:to="ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember_lbl" xml:lang="en-US">61-90 days [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember" xlink:to="ifrs-full_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LaterThanSixMonthsAndNotLaterThanOneYearMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LaterThanSixMonthsAndNotLaterThanOneYearMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanSixMonthsAndNotLaterThanOneYearMember_lbl" xml:lang="en-US">91-120 days [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanSixMonthsAndNotLaterThanOneYearMember" xlink:to="ifrs-full_LaterThanSixMonthsAndNotLaterThanOneYearMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TotalMember" xlink:href="mgic-20221231.xsd#mgic_TotalMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TotalMember_lbl" xml:lang="en-US">Total [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalMember" xlink:to="mgic_TotalMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnpaidDeferredRevenuesMember" xlink:href="mgic-20221231.xsd#mgic_UnpaidDeferredRevenuesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnpaidDeferredRevenuesMember_lbl" xml:lang="en-US">Unpaid deferred revenues [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnpaidDeferredRevenuesMember" xlink:to="mgic_UnpaidDeferredRevenuesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AllowancesForCreditLossMember" xlink:href="mgic-20221231.xsd#mgic_AllowancesForCreditLossMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AllowancesForCreditLossMember_lbl" xml:lang="en-US">Allowance for credit losses [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AllowancesForCreditLossMember" xlink:to="mgic_AllowancesForCreditLossMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SellingAndMarketingExpensesMember" xlink:href="mgic-20221231.xsd#mgic_SellingAndMarketingExpensesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_SellingAndMarketingExpensesMember_lbl" xml:lang="en-US">Selling and marketing expenses [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SellingAndMarketingExpensesMember" xlink:to="mgic_SellingAndMarketingExpensesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpenseMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_SellingGeneralAndAdministrativeExpenseMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpenseMember_lbl" xml:lang="en-US">General and administrative expenses [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SellingGeneralAndAdministrativeExpenseMember" xlink:to="ifrs-full_SellingGeneralAndAdministrativeExpenseMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnallocatedExpenseMember" xlink:href="mgic-20221231.xsd#mgic_UnallocatedExpenseMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnallocatedExpenseMember_lbl" xml:lang="en-US">Unallocated expense [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnallocatedExpenseMember" xlink:to="mgic_UnallocatedExpenseMember_lbl"/>
    <loc xlink:type="locator" xlink:label="country_US" xlink:href="https://xbrl.sec.gov/country/2022/country-2022.xsd#country_US"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="country_US_lbl" xml:lang="en-US">United States [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_US" xlink:to="country_US_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="country_US_lbl0" xml:lang="en-US">UNITED STATES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_US" xlink:to="country_US_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="country_US_lbl1" xml:lang="en-US">U.S [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_US" xlink:to="country_US_lbl1"/>
    <loc xlink:type="locator" xlink:label="country_IL" xlink:href="https://xbrl.sec.gov/country/2022/country-2022.xsd#country_IL"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="country_IL_lbl" xml:lang="en-US">Israel [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_IL" xlink:to="country_IL_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="country_IL_lbl0" xml:lang="en-US">ISRAEL</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_IL" xlink:to="country_IL_lbl0"/>
    <loc xlink:type="locator" xlink:label="srt_EuropeMember" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_EuropeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_EuropeMember_lbl" xml:lang="en-US">Europe [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_EuropeMember" xlink:to="srt_EuropeMember_lbl"/>
    <loc xlink:type="locator" xlink:label="country_JP" xlink:href="https://xbrl.sec.gov/country/2022/country-2022.xsd#country_JP"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="country_JP_lbl" xml:lang="en-US">Japan [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_JP" xlink:to="country_JP_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="country_JP_lbl0" xml:lang="en-US">JAPAN</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_JP" xlink:to="country_JP_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_USGAAPMember" xlink:href="mgic-20221231.xsd#mgic_USGAAPMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_USGAAPMember_lbl" xml:lang="en-US">U.S. GAAP [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_USGAAPMember" xlink:to="mgic_USGAAPMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OtherGAAPAdjustmentsAndReclassificationsMember" xlink:href="mgic-20221231.xsd#mgic_OtherGAAPAdjustmentsAndReclassificationsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_OtherGAAPAdjustmentsAndReclassificationsMember_lbl" xml:lang="en-US">Other GAAP Adjustments and reclassifications [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OtherGAAPAdjustmentsAndReclassificationsMember" xlink:to="mgic_OtherGAAPAdjustmentsAndReclassificationsMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="mgic_OtherGAAPAdjustmentsAndReclassificationsMember_lbl0" xml:lang="en-US">GAAP Adjustments and reclassifications [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OtherGAAPAdjustmentsAndReclassificationsMember" xlink:to="mgic_OtherGAAPAdjustmentsAndReclassificationsMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NonadjustingEventsAfterReportingPeriodAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis_lbl" xml:lang="en-US">Non-adjusting events after reporting period [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis_lbl" xml:lang="en-US">Categories of related parties [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_CategoriesOfRelatedPartiesAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_InterestRateBenchmarksAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_InterestRateBenchmarksAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestRateBenchmarksAxis_lbl" xml:lang="en-US">Interest rate benchmarks [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestRateBenchmarksAxis" xlink:to="ifrs-full_InterestRateBenchmarksAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_LegalEntityAxis" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_LegalEntityAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_LegalEntityAxis_lbl" xml:lang="en-US">Legal Entity [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LegalEntityAxis" xlink:to="dei_LegalEntityAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_GeographicalAreasAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GeographicalAreasAxis_lbl" xml:lang="en-US">Geographical areas [axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountingPoliciesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AccountingPoliciesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountingPoliciesAbstract_lbl" xml:lang="en-US">Accounting Policies [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountingPoliciesAbstract" xlink:to="us-gaap_AccountingPoliciesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_InterestRate" xlink:href="mgic-20221231.xsd#mgic_InterestRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_InterestRate_lbl" xml:lang="en-US">Interest rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_InterestRate" xlink:to="mgic_InterestRate_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EstimatedUsefulLives" xlink:href="mgic-20221231.xsd#mgic_EstimatedUsefulLives"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_EstimatedUsefulLives_lbl" xml:lang="en-US">Estimated useful life</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EstimatedUsefulLives" xlink:to="mgic_EstimatedUsefulLives_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets_lbl" xml:lang="en-US">General and administrative (in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets" xlink:to="ifrs-full_AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OutstandingSharePercentage" xlink:href="mgic-20221231.xsd#mgic_OutstandingSharePercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_OutstandingSharePercentage_lbl" xml:lang="en-US">Outstanding share percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OutstandingSharePercentage" xlink:to="mgic_OutstandingSharePercentage_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CompetitiveDigitalEcosystem" xlink:href="mgic-20221231.xsd#mgic_CompetitiveDigitalEcosystem"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CompetitiveDigitalEcosystem_lbl" xml:lang="en-US">Competitive digital ecosystem</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CompetitiveDigitalEcosystem" xlink:to="mgic_CompetitiveDigitalEcosystem_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ClosingPayment" xlink:href="mgic-20221231.xsd#mgic_ClosingPayment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ClosingPayment_lbl" xml:lang="en-US">Closing payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ClosingPayment" xlink:to="mgic_ClosingPayment_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AdvancePaymentForFutureAcquisition" xlink:href="mgic-20221231.xsd#mgic_AdvancePaymentForFutureAcquisition"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AdvancePaymentForFutureAcquisition_lbl" xml:lang="en-US">Advance payment for future acquisition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdvancePaymentForFutureAcquisition" xlink:to="mgic_AdvancePaymentForFutureAcquisition_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PurchaseOfSharesHoldingPercentage" xlink:href="mgic-20221231.xsd#mgic_PurchaseOfSharesHoldingPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_PurchaseOfSharesHoldingPercentage_lbl" xml:lang="en-US">Share purchase holding percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PurchaseOfSharesHoldingPercentage" xlink:to="mgic_PurchaseOfSharesHoldingPercentage_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate_lbl" xml:lang="en-US">Fair value of acquisition date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate" xlink:to="ifrs-full_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValue" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinancialLiabilitiesAtFairValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValue_lbl" xml:lang="en-US">Fair value of financial liability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilitiesAtFairValue" xlink:to="ifrs-full_FinancialLiabilitiesAtFairValue_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SharesPercentage" xlink:href="mgic-20221231.xsd#mgic_SharesPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_SharesPercentage_lbl" xml:lang="en-US">Shares percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SharesPercentage" xlink:to="mgic_SharesPercentage_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital_lbl" xml:lang="en-US">Net working capital adjustments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital" xlink:to="ifrs-full_AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CashConsiderationAmount" xlink:href="mgic-20221231.xsd#mgic_CashConsiderationAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CashConsiderationAmount_lbl" xml:lang="en-US">Cash consideration amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashConsiderationAmount" xlink:to="mgic_CashConsiderationAmount_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ConsiderationPaidReceived" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ConsiderationPaidReceived"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ConsiderationPaidReceived_lbl" xml:lang="en-US">Consideration paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ConsiderationPaidReceived" xlink:to="ifrs-full_ConsiderationPaidReceived_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred_lbl" xml:lang="en-US">Total consideration amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:to="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EqualInstallments" xlink:href="mgic-20221231.xsd#mgic_EqualInstallments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_EqualInstallments_lbl" xml:lang="en-US">Equal installments amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EqualInstallments" xlink:to="mgic_EqualInstallments_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ContingentConsiderationRecognisedAsOfAcquisitionDate" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ContingentConsiderationRecognisedAsOfAcquisitionDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ContingentConsiderationRecognisedAsOfAcquisitionDate_lbl" xml:lang="en-US">Contingent consideration amounted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ContingentConsiderationRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_ContingentConsiderationRecognisedAsOfAcquisitionDate_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_SettlementOfLiabilitiesByEntityOnBehalfOfRelatedPartyRelatedPartyTransactions" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_SettlementOfLiabilitiesByEntityOnBehalfOfRelatedPartyRelatedPartyTransactions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SettlementOfLiabilitiesByEntityOnBehalfOfRelatedPartyRelatedPartyTransactions_lbl" xml:lang="en-US">Settlement liabilities current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SettlementOfLiabilitiesByEntityOnBehalfOfRelatedPartyRelatedPartyTransactions" xlink:to="ifrs-full_SettlementOfLiabilitiesByEntityOnBehalfOfRelatedPartyRelatedPartyTransactions_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PurchaseOfSharesPercentage" xlink:href="mgic-20221231.xsd#mgic_PurchaseOfSharesPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_PurchaseOfSharesPercentage_lbl" xml:lang="en-US">Share purchase holding percentage (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PurchaseOfSharesPercentage" xlink:to="mgic_PurchaseOfSharesPercentage_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PaidInCash" xlink:href="mgic-20221231.xsd#mgic_PaidInCash"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_PaidInCash_lbl" xml:lang="en-US">Paid in cash</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PaidInCash" xlink:to="mgic_PaidInCash_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_RemainingOptionInterestPecentage" xlink:href="mgic-20221231.xsd#mgic_RemainingOptionInterestPecentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_RemainingOptionInterestPecentage_lbl" xml:lang="en-US">Option interest percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RemainingOptionInterestPecentage" xlink:to="mgic_RemainingOptionInterestPecentage_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LoansPayableInDefault" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LoansPayableInDefault"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LoansPayableInDefault_lbl" xml:lang="en-US">Loan amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LoansPayableInDefault" xlink:to="ifrs-full_LoansPayableInDefault_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BorrowingsInterestRate" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_BorrowingsInterestRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BorrowingsInterestRate_lbl" xml:lang="en-US">Interest rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsInterestRate" xlink:to="ifrs-full_BorrowingsInterestRate_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_EquityInstrumentsHeld" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_EquityInstrumentsHeld"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EquityInstrumentsHeld_lbl" xml:lang="en-US">Total equity attributable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityInstrumentsHeld" xlink:to="ifrs-full_EquityInstrumentsHeld_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_RestrictedCashAndCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RestrictedCashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RestrictedCashAndCashEquivalents_lbl" xml:lang="en-US">Cash and cash equivalent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RestrictedCashAndCashEquivalents" xlink:to="ifrs-full_RestrictedCashAndCashEquivalents_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FinancialDebtsNotExceedPercentage" xlink:href="mgic-20221231.xsd#mgic_FinancialDebtsNotExceedPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_FinancialDebtsNotExceedPercentage_lbl" xml:lang="en-US">Financial debts not exceed percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FinancialDebtsNotExceedPercentage" xlink:to="mgic_FinancialDebtsNotExceedPercentage_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LoanAgreementDescription" xlink:href="mgic-20221231.xsd#mgic_LoanAgreementDescription"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LoanAgreementDescription_lbl" xml:lang="en-US">Loan agreement description</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LoanAgreementDescription" xlink:to="mgic_LoanAgreementDescription_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LoanObtained" xlink:href="mgic-20221231.xsd#mgic_LoanObtained"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LoanObtained_lbl" xml:lang="en-US">Loan obtained</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LoanObtained" xlink:to="mgic_LoanObtained_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DerivativeFixedInterestRates" xlink:href="mgic-20221231.xsd#mgic_DerivativeFixedInterestRates"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DerivativeFixedInterestRates_lbl" xml:lang="en-US">Fixed interest rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DerivativeFixedInterestRates" xlink:to="mgic_DerivativeFixedInterestRates_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherEquityInterest" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherEquityInterest"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherEquityInterest_lbl" xml:lang="en-US">Equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherEquityInterest" xlink:to="ifrs-full_OtherEquityInterest_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ServicesReceivedRelatedPartyTransactions" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ServicesReceivedRelatedPartyTransactions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ServicesReceivedRelatedPartyTransactions_lbl" xml:lang="en-US">Acquired services</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ServicesReceivedRelatedPartyTransactions" xlink:to="ifrs-full_ServicesReceivedRelatedPartyTransactions_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AmountsReceivableRelatedPartyTransactions" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AmountsReceivableRelatedPartyTransactions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AmountsReceivableRelatedPartyTransactions_lbl" xml:lang="en-US">Other receivables balances due parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmountsReceivableRelatedPartyTransactions" xlink:to="ifrs-full_AmountsReceivableRelatedPartyTransactions_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AmountsPayableRelatedPartyTransactions" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AmountsPayableRelatedPartyTransactions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AmountsPayableRelatedPartyTransactions_lbl" xml:lang="en-US">Trade payables balances due parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmountsPayableRelatedPartyTransactions" xlink:to="ifrs-full_AmountsPayableRelatedPartyTransactions_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LeasesExtendToAdditionalYears" xlink:href="mgic-20221231.xsd#mgic_LeasesExtendToAdditionalYears"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LeasesExtendToAdditionalYears_lbl" xml:lang="en-US">Additional lease years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasesExtendToAdditionalYears" xlink:to="mgic_LeasesExtendToAdditionalYears_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfLineItemsInStatementOfFinancialPositionWhichIncludeLeaseLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DescriptionOfLineItemsInStatementOfFinancialPositionWhichIncludeLeaseLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfLineItemsInStatementOfFinancialPositionWhichIncludeLeaseLiabilities_lbl" xml:lang="en-US">Leases with durations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfLineItemsInStatementOfFinancialPositionWhichIncludeLeaseLiabilities" xlink:to="ifrs-full_DescriptionOfLineItemsInStatementOfFinancialPositionWhichIncludeLeaseLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LeaseOptionToTerminate" xlink:href="mgic-20221231.xsd#mgic_LeaseOptionToTerminate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LeaseOptionToTerminate_lbl" xml:lang="en-US">Terminate lease, term</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeaseOptionToTerminate" xlink:to="mgic_LeaseOptionToTerminate_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DescriptionOfLeaseExpiring" xlink:href="mgic-20221231.xsd#mgic_DescriptionOfLeaseExpiring"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DescriptionOfLeaseExpiring_lbl" xml:lang="en-US">Lease periods expiring</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DescriptionOfLeaseExpiring" xlink:to="mgic_DescriptionOfLeaseExpiring_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ExplanationOfNatureAndExtentOfRenewalAndTerminationOptions" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ExplanationOfNatureAndExtentOfRenewalAndTerminationOptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ExplanationOfNatureAndExtentOfRenewalAndTerminationOptions_lbl" xml:lang="en-US">Expiry dates and renewal options, description</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExplanationOfNatureAndExtentOfRenewalAndTerminationOptions" xlink:to="ifrs-full_ExplanationOfNatureAndExtentOfRenewalAndTerminationOptions_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares_lbl" xml:lang="en-US">Reserved ordinary shares for issuance (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares" xlink:to="ifrs-full_SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AggregateOrdinarySharesAvailableForFutureGrants" xlink:href="mgic-20221231.xsd#mgic_AggregateOrdinarySharesAvailableForFutureGrants"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AggregateOrdinarySharesAvailableForFutureGrants_lbl" xml:lang="en-US">Aggregate ordinary shares available for future grants (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AggregateOrdinarySharesAvailableForFutureGrants" xlink:to="mgic_AggregateOrdinarySharesAvailableForFutureGrants_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OptionGrantExercisableContractualLifeOfOutstandingShareOption" xlink:href="mgic-20221231.xsd#mgic_OptionGrantExercisableContractualLifeOfOutstandingShareOption"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_OptionGrantExercisableContractualLifeOfOutstandingShareOption_lbl" xml:lang="en-US">Option grant is exercisable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OptionGrantExercisableContractualLifeOfOutstandingShareOption" xlink:to="mgic_OptionGrantExercisableContractualLifeOfOutstandingShareOption_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ExerciseOptionVestLife" xlink:href="mgic-20221231.xsd#mgic_ExerciseOptionVestLife"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_ExerciseOptionVestLife_lbl" xml:lang="en-US">Options vest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ExerciseOptionVestLife" xlink:to="mgic_ExerciseOptionVestLife_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ExpectedDividendShareOptionsGranted" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ExpectedDividendShareOptionsGranted"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ExpectedDividendShareOptionsGranted_lbl" xml:lang="en-US">Expected dividend assumption</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpectedDividendShareOptionsGranted" xlink:to="ifrs-full_ExpectedDividendShareOptionsGranted_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PurchaseOfOptionShares" xlink:href="mgic-20221231.xsd#mgic_PurchaseOfOptionShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_PurchaseOfOptionShares_lbl" xml:lang="en-US">Options to purchase its shares (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PurchaseOfOptionShares" xlink:to="mgic_PurchaseOfOptionShares_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TotalIntrinsicValueOfOptionsExercised" xlink:href="mgic-20221231.xsd#mgic_TotalIntrinsicValueOfOptionsExercised"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TotalIntrinsicValueOfOptionsExercised_lbl" xml:lang="en-US">Total intrinsic value of options exercised</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalIntrinsicValueOfOptionsExercised" xlink:to="mgic_TotalIntrinsicValueOfOptionsExercised_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_UnrecognizedCompensationCostRelatedToNonVestedOptions" xlink:href="mgic-20221231.xsd#mgic_UnrecognizedCompensationCostRelatedToNonVestedOptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_UnrecognizedCompensationCostRelatedToNonVestedOptions_lbl" xml:lang="en-US">Unrecognized compensation cost related to non-vested options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnrecognizedCompensationCostRelatedToNonVestedOptions" xlink:to="mgic_UnrecognizedCompensationCostRelatedToNonVestedOptions_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PurchaseOfShares" xlink:href="mgic-20221231.xsd#mgic_PurchaseOfShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_PurchaseOfShares_lbl" xml:lang="en-US">Purchase of shares (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PurchaseOfShares" xlink:to="mgic_PurchaseOfShares_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DescriptionOfExercisePriceRange" xlink:href="mgic-20221231.xsd#mgic_DescriptionOfExercisePriceRange"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DescriptionOfExercisePriceRange_lbl" xml:lang="en-US">Description of exercise price range</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DescriptionOfExercisePriceRange" xlink:to="mgic_DescriptionOfExercisePriceRange_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NumberOfSharesIssuedAndFullyPaid" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NumberOfSharesIssuedAndFullyPaid"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NumberOfSharesIssuedAndFullyPaid_lbl" xml:lang="en-US">Options have fully vested upon their grant (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesIssuedAndFullyPaid" xlink:to="ifrs-full_NumberOfSharesIssuedAndFullyPaid_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_WeightedAverageRemainingContractualLifeOfOutstandingShareOption" xlink:href="mgic-20221231.xsd#mgic_WeightedAverageRemainingContractualLifeOfOutstandingShareOption"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_WeightedAverageRemainingContractualLifeOfOutstandingShareOption_lbl" xml:lang="en-US">Weighted average period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageRemainingContractualLifeOfOutstandingShareOption" xlink:to="mgic_WeightedAverageRemainingContractualLifeOfOutstandingShareOption_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees_lbl" xml:lang="en-US">Share-based payment expense related to employee stock options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:to="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SeveranceExpenses" xlink:href="mgic-20221231.xsd#mgic_SeveranceExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_SeveranceExpenses_lbl" xml:lang="en-US">Severance expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SeveranceExpenses" xlink:to="mgic_SeveranceExpenses_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AnnualCompensationPercentage" xlink:href="mgic-20221231.xsd#mgic_AnnualCompensationPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AnnualCompensationPercentage_lbl" xml:lang="en-US">Annual compensation percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AnnualCompensationPercentage" xlink:to="mgic_AnnualCompensationPercentage_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EmployeeContributionsPercentage" xlink:href="mgic-20221231.xsd#mgic_EmployeeContributionsPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_EmployeeContributionsPercentage_lbl" xml:lang="en-US">Employee contributions percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EmployeeContributionsPercentage" xlink:to="mgic_EmployeeContributionsPercentage_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LeaseAmount" xlink:href="mgic-20221231.xsd#mgic_LeaseAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LeaseAmount_lbl" xml:lang="en-US">Lease cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeaseAmount" xlink:to="mgic_LeaseAmount_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DepositsFromBanks" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DepositsFromBanks"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DepositsFromBanks_lbl" xml:lang="en-US">Bank deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepositsFromBanks" xlink:to="ifrs-full_DepositsFromBanks_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_Cash" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_Cash"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Cash_lbl" xml:lang="en-US">Won damages</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Cash" xlink:to="ifrs-full_Cash_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LossContingencyDamagesSoughtValues" xlink:href="mgic-20221231.xsd#mgic_LossContingencyDamagesSoughtValues"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LossContingencyDamagesSoughtValues_lbl" xml:lang="en-US">Filed lawsuit seeking damages (in New Shekels)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LossContingencyDamagesSoughtValues" xlink:to="mgic_LossContingencyDamagesSoughtValues_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DividendDistributed" xlink:href="mgic-20221231.xsd#mgic_DividendDistributed"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DividendDistributed_lbl" xml:lang="en-US">Dividend distributed</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DividendDistributed" xlink:to="mgic_DividendDistributed_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare_lbl" xml:lang="en-US">Dividend distribution per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare" xlink:to="ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DividendsPayable" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DividendsPayable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DividendsPayable_lbl" xml:lang="en-US">Dividend distribution</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsPayable" xlink:to="ifrs-full_DividendsPayable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TaxableIncomePercentage" xlink:href="mgic-20221231.xsd#mgic_TaxableIncomePercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TaxableIncomePercentage_lbl" xml:lang="en-US">Taxable income percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TaxableIncomePercentage" xlink:to="mgic_TaxableIncomePercentage_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TaxRateEffectFromChangeInTaxRate" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_TaxRateEffectFromChangeInTaxRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TaxRateEffectFromChangeInTaxRate_lbl" xml:lang="en-US">Preferred tax rate percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxRateEffectFromChangeInTaxRate" xlink:to="ifrs-full_TaxRateEffectFromChangeInTaxRate_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TaxRateEffectOfTaxLosses" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_TaxRateEffectOfTaxLosses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TaxRateEffectOfTaxLosses_lbl" xml:lang="en-US">Tax rate percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxRateEffectOfTaxLosses" xlink:to="ifrs-full_TaxRateEffectOfTaxLosses_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LeasePercentage" xlink:href="mgic-20221231.xsd#mgic_LeasePercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_LeasePercentage_lbl" xml:lang="en-US">Lease percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasePercentage" xlink:to="mgic_LeasePercentage_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_TaxEffectFromChangeInTaxRate" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_TaxEffectFromChangeInTaxRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TaxEffectFromChangeInTaxRate_lbl" xml:lang="en-US">(in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxEffectFromChangeInTaxRate" xlink:to="ifrs-full_TaxEffectFromChangeInTaxRate_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccumulatedTaxExemptEarnings" xlink:href="mgic-20221231.xsd#mgic_AccumulatedTaxExemptEarnings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AccumulatedTaxExemptEarnings_lbl" xml:lang="en-US">Total accumulated tax-exempt earnings amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedTaxExemptEarnings" xlink:to="mgic_AccumulatedTaxExemptEarnings_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TaxExpenses" xlink:href="mgic-20221231.xsd#mgic_TaxExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TaxExpenses_lbl" xml:lang="en-US">Tax expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TaxExpenses" xlink:to="mgic_TaxExpenses_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CurrentRestrictedCashAndCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentRestrictedCashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentRestrictedCashAndCashEquivalents_lbl" xml:lang="en-US">Cash and cash equivalents (in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentRestrictedCashAndCashEquivalents" xlink:to="ifrs-full_CurrentRestrictedCashAndCashEquivalents_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OperatingLossCarryforwardsAmount" xlink:href="mgic-20221231.xsd#mgic_OperatingLossCarryforwardsAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_OperatingLossCarryforwardsAmount_lbl" xml:lang="en-US">Operating loss carryforwards amount (in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OperatingLossCarryforwardsAmount" xlink:to="mgic_OperatingLossCarryforwardsAmount_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TaxLossCarryforwards" xlink:href="mgic-20221231.xsd#mgic_TaxLossCarryforwards"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_TaxLossCarryforwards_lbl" xml:lang="en-US">Tax loss carryforwards (in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TaxLossCarryforwards" xlink:to="mgic_TaxLossCarryforwards_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AggregateAmount" xlink:href="mgic-20221231.xsd#mgic_AggregateAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AggregateAmount_lbl" xml:lang="en-US">Aggregate amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AggregateAmount" xlink:to="mgic_AggregateAmount_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PercentageOfPerformanceObligations" xlink:href="mgic-20221231.xsd#mgic_PercentageOfPerformanceObligations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_PercentageOfPerformanceObligations_lbl" xml:lang="en-US">Percentage of performance obligations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PercentageOfPerformanceObligations" xlink:to="mgic_PercentageOfPerformanceObligations_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DeferredRevenueOther" xlink:href="mgic-20221231.xsd#mgic_DeferredRevenueOther"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DeferredRevenueOther_lbl" xml:lang="en-US">Deferred revenues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredRevenueOther" xlink:to="mgic_DeferredRevenueOther_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CompanyRevenues" xlink:href="mgic-20221231.xsd#mgic_CompanyRevenues"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CompanyRevenues_lbl" xml:lang="en-US">Company revenues accounted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CompanyRevenues" xlink:to="mgic_CompanyRevenues_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LiabilityAssetOfDefinedBenefitPlans"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans_lbl" xml:lang="en-US">Net liability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:to="ifrs-full_LiabilityAssetOfDefinedBenefitPlans_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherShorttermEmployeeBenefits" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherShorttermEmployeeBenefits"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherShorttermEmployeeBenefits_lbl" xml:lang="en-US">Short -term</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherShorttermEmployeeBenefits" xlink:to="ifrs-full_OtherShorttermEmployeeBenefits_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_OtherLongtermBenefits" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherLongtermBenefits"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherLongtermBenefits_lbl" xml:lang="en-US">Long-term</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherLongtermBenefits" xlink:to="ifrs-full_OtherLongtermBenefits_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DividendPayables" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DividendPayables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DividendPayables_lbl" xml:lang="en-US">Cash dividend</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendPayables" xlink:to="ifrs-full_DividendPayables_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ParValuePerShare" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ParValuePerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ParValuePerShare_lbl" xml:lang="en-US">Shareholder per share (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ParValuePerShare" xlink:to="ifrs-full_ParValuePerShare_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_BorrowingCostsIncurred" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_BorrowingCostsIncurred"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BorrowingCostsIncurred_lbl" xml:lang="en-US">Borrowing cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingCostsIncurred" xlink:to="ifrs-full_BorrowingCostsIncurred_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AnnualInstalmentsRepaid" xlink:href="mgic-20221231.xsd#mgic_AnnualInstalmentsRepaid"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_AnnualInstalmentsRepaid_lbl" xml:lang="en-US">Annual instalments repaid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AnnualInstalmentsRepaid" xlink:to="mgic_AnnualInstalmentsRepaid_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory_lbl" xml:lang="en-US">Basis of presentation of the financial statements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory" xlink:to="ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DescriptionOfUseOfEstimatesJudgmentAndAssumptionTextBlock" xlink:href="mgic-20221231.xsd#mgic_DescriptionOfUseOfEstimatesJudgmentAndAssumptionTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DescriptionOfUseOfEstimatesJudgmentAndAssumptionTextBlock_lbl" xml:lang="en-US">Use of estimates, judgments and assumptions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DescriptionOfUseOfEstimatesJudgmentAndAssumptionTextBlock" xlink:to="mgic_DescriptionOfUseOfEstimatesJudgmentAndAssumptionTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DescriptionOfConsolidatedFinancialStatementTextBlock" xlink:href="mgic-20221231.xsd#mgic_DescriptionOfConsolidatedFinancialStatementTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DescriptionOfConsolidatedFinancialStatementTextBlock_lbl" xml:lang="en-US">Consolidated financial statements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DescriptionOfConsolidatedFinancialStatementTextBlock" xlink:to="mgic_DescriptionOfConsolidatedFinancialStatementTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory_lbl" xml:lang="en-US">Non-controlling interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory_lbl" xml:lang="en-US">Business combination and goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory_lbl" xml:lang="en-US">Functional currency, presentation currency and foreign currency</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents_lbl" xml:lang="en-US">cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents" xlink:to="ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DescriptionOfShortTermBankDepositsTextBlock" xlink:href="mgic-20221231.xsd#mgic_DescriptionOfShortTermBankDepositsTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DescriptionOfShortTermBankDepositsTextBlock_lbl" xml:lang="en-US">Short-term bank deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DescriptionOfShortTermBankDepositsTextBlock" xlink:to="mgic_DescriptionOfShortTermBankDepositsTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue_lbl" xml:lang="en-US">Revenue recognition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory_lbl" xml:lang="en-US">Income tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory_lbl" xml:lang="en-US">Leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory_lbl" xml:lang="en-US">Property, plant and equipment, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory_lbl" xml:lang="en-US">Intangible assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DescriptionOfAdvertisingExpensesTextBlock" xlink:href="mgic-20221231.xsd#mgic_DescriptionOfAdvertisingExpensesTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_DescriptionOfAdvertisingExpensesTextBlock_lbl" xml:lang="en-US">Advertising expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DescriptionOfAdvertisingExpensesTextBlock" xlink:to="mgic_DescriptionOfAdvertisingExpensesTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory_lbl" xml:lang="en-US">Impairment of non-financial assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory_lbl" xml:lang="en-US">Consolidated financial statement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfFairValueOfFinancialInstrumentsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfFairValueOfFinancialInstrumentsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DisclosureOfFairValueOfFinancialInstrumentsExplanatory_lbl" xml:lang="en-US">Fair value measurement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFairValueOfFinancialInstrumentsExplanatory" xlink:to="ifrs-full_DisclosureOfFairValueOfFinancialInstrumentsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory_lbl" xml:lang="en-US">Provision</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory_lbl" xml:lang="en-US">Employee benefits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory_lbl" xml:lang="en-US">Share-based payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory_lbl" xml:lang="en-US">Earnings per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_DescriptionOfConcentrationOfCreditRiskTextBlock" xlink:href="mgic-20221231.xsd#mgic_DescriptionOfConcentrationOfCreditRiskTextBlock"/>
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    <loc xlink:type="locator" xlink:label="mgic_DescriptionOfReclassificationOfPriorYearsPresentation" xlink:href="mgic-20221231.xsd#mgic_DescriptionOfReclassificationOfPriorYearsPresentation"/>
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    <loc xlink:type="locator" xlink:label="mgic_NonadjustingEventAfterReportingPeriodMember" xlink:href="mgic-20221231.xsd#mgic_NonadjustingEventAfterReportingPeriodMember"/>
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    <loc xlink:type="locator" xlink:label="mgic_CustomersoneMember" xlink:href="mgic-20221231.xsd#mgic_CustomersoneMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_CustomersoneMember_lbl" xml:lang="en-US">Customer [Member]</label>
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    <loc xlink:type="locator" xlink:label="mgic_SPTEMember" xlink:href="mgic-20221231.xsd#mgic_SPTEMember"/>
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    <loc xlink:type="locator" xlink:label="mgic_FormulaTelecomSolutionsLtdMember" xlink:href="mgic-20221231.xsd#mgic_FormulaTelecomSolutionsLtdMember"/>
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    <loc xlink:type="locator" xlink:label="country_GB" xlink:href="https://xbrl.sec.gov/country/2022/country-2022.xsd#country_GB"/>
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    <loc xlink:type="locator" xlink:label="mgic_RedeemableNoncontrollingInterestsMember" xlink:href="mgic-20221231.xsd#mgic_RedeemableNoncontrollingInterestsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mgic_RedeemableNoncontrollingInterestsMember_lbl" xml:lang="en-US">Redeemable non-controlling interests [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityMember_lbl" xml:lang="en-US">Equity [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityMember" xlink:to="ifrs-full_EquityMember_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfChangesInEquityTable" xlink:to="ifrs-full_StatementOfChangesInEquityTable_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfChangesInEquityLineItems" xlink:to="ifrs-full_StatementOfChangesInEquityLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SignificantAccountingPoliciesTable" xlink:href="mgic-20221231.xsd#mgic_SignificantAccountingPoliciesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SignificantAccountingPoliciesTable_lbl" xml:lang="en-US">Significant Accounting Policies [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SignificantAccountingPoliciesTable" xlink:to="mgic_SignificantAccountingPoliciesTable_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SignificantAccountingPoliciesLineItems_lbl" xml:lang="en-US">Significant Accounting Policies [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SignificantAccountingPoliciesLineItems" xlink:to="mgic_SignificantAccountingPoliciesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OtherAccountsReceivavableAndPrepaidExpesnesTable" xlink:href="mgic-20221231.xsd#mgic_OtherAccountsReceivavableAndPrepaidExpesnesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OtherAccountsReceivavableAndPrepaidExpesnesTable_lbl" xml:lang="en-US">Other Accounts Receivavable And Prepaid Expesnes [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OtherAccountsReceivavableAndPrepaidExpesnesTable" xlink:to="mgic_OtherAccountsReceivavableAndPrepaidExpesnesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OtherAccountsReceivavableAndPrepaidExpesnesLineItems" xlink:href="mgic-20221231.xsd#mgic_OtherAccountsReceivavableAndPrepaidExpesnesLineItems"/>
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    <loc xlink:type="locator" xlink:label="mgic_FairValueMeasurementTable" xlink:href="mgic-20221231.xsd#mgic_FairValueMeasurementTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_FairValueMeasurementTable_lbl" xml:lang="en-US">Fair Value Measurement [Table]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FairValueMeasurementLineItems" xlink:to="mgic_FairValueMeasurementLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PropertyPlantsandEquipmentNetTable" xlink:href="mgic-20221231.xsd#mgic_PropertyPlantsandEquipmentNetTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_PropertyPlantsandEquipmentNetTable_lbl" xml:lang="en-US">Property , Plants and Equipment , Net [Table]</label>
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    <loc xlink:type="locator" xlink:label="mgic_PropertyPlantsandEquipmentNetLineItems" xlink:href="mgic-20221231.xsd#mgic_PropertyPlantsandEquipmentNetLineItems"/>
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    <loc xlink:type="locator" xlink:label="mgic_IntangibleAssetsNetTable" xlink:href="mgic-20221231.xsd#mgic_IntangibleAssetsNetTable"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IntangibleAssetsNetLineItems_lbl" xml:lang="en-US">Intangible Assets, Net [Abstract]</label>
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    <loc xlink:type="locator" xlink:label="mgic_GoodwillTable" xlink:href="mgic-20221231.xsd#mgic_GoodwillTable"/>
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    <loc xlink:type="locator" xlink:label="us-gaap_GoodwillLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_GoodwillLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GoodwillLineItems_lbl" xml:lang="en-US">Goodwill [Abstract]</label>
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    <loc xlink:type="locator" xlink:label="mgic_ShortTermDebtsTable" xlink:href="mgic-20221231.xsd#mgic_ShortTermDebtsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShortTermDebtsTable_lbl" xml:lang="en-US">Short Term Debts [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShortTermDebtsTable" xlink:to="mgic_ShortTermDebtsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShortTermDebtsLineItems" xlink:href="mgic-20221231.xsd#mgic_ShortTermDebtsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShortTermDebtsLineItems_lbl" xml:lang="en-US">Short Term Debts [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShortTermDebtsLineItems" xlink:to="mgic_ShortTermDebtsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_RelatedPartiesTransactionsTable" xlink:href="mgic-20221231.xsd#mgic_RelatedPartiesTransactionsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_RelatedPartiesTransactionsTable_lbl" xml:lang="en-US">Related Parties Transactions [Table]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_RelatedPartiesTransactionsLineItems_lbl" xml:lang="en-US">Related Parties Transactions [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RelatedPartiesTransactionsLineItems" xlink:to="mgic_RelatedPartiesTransactionsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LeasesTable" xlink:href="mgic-20221231.xsd#mgic_LeasesTable"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasesTable" xlink:to="mgic_LeasesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LeasesLineItems" xlink:href="mgic-20221231.xsd#mgic_LeasesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LeasesLineItems_lbl" xml:lang="en-US">Leases [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasesLineItems" xlink:to="mgic_LeasesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedPaymentsTable" xlink:href="mgic-20221231.xsd#mgic_ShareBasedPaymentsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareBasedPaymentsTable_lbl" xml:lang="en-US">Share Based Payments [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedPaymentsTable" xlink:to="mgic_ShareBasedPaymentsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedPaymentsLineItems" xlink:href="mgic-20221231.xsd#mgic_ShareBasedPaymentsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareBasedPaymentsLineItems_lbl" xml:lang="en-US">Share Based Payments [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedPaymentsLineItems" xlink:to="mgic_ShareBasedPaymentsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EmployeeBenefitLiabilitiesTable" xlink:href="mgic-20221231.xsd#mgic_EmployeeBenefitLiabilitiesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_EmployeeBenefitLiabilitiesTable_lbl" xml:lang="en-US">Employee Benefit Liabilities [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EmployeeBenefitLiabilitiesTable" xlink:to="mgic_EmployeeBenefitLiabilitiesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EmployeeBenefitLiabilitiesLineItems" xlink:href="mgic-20221231.xsd#mgic_EmployeeBenefitLiabilitiesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_EmployeeBenefitLiabilitiesLineItems_lbl" xml:lang="en-US">Employee Benefit Liabilities [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EmployeeBenefitLiabilitiesLineItems" xlink:to="mgic_EmployeeBenefitLiabilitiesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EquityTable" xlink:href="mgic-20221231.xsd#mgic_EquityTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_EquityTable_lbl" xml:lang="en-US">Equity [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EquityTable" xlink:to="mgic_EquityTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EquityLineItems" xlink:href="mgic-20221231.xsd#mgic_EquityLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_EquityLineItems_lbl" xml:lang="en-US">Equity [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EquityLineItems" xlink:to="mgic_EquityLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SelectedStatementsofIncomeDataTable" xlink:href="mgic-20221231.xsd#mgic_SelectedStatementsofIncomeDataTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SelectedStatementsofIncomeDataTable_lbl" xml:lang="en-US">Selected Statements of Income Data [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SelectedStatementsofIncomeDataTable" xlink:to="mgic_SelectedStatementsofIncomeDataTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SelectedStatementsofIncomeDataLineItems" xlink:href="mgic-20221231.xsd#mgic_SelectedStatementsofIncomeDataLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SelectedStatementsofIncomeDataLineItems_lbl" xml:lang="en-US">Selected Statements of Income Data [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SelectedStatementsofIncomeDataLineItems" xlink:to="mgic_SelectedStatementsofIncomeDataLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OperatingsegmentsTable" xlink:href="mgic-20221231.xsd#mgic_OperatingsegmentsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OperatingsegmentsTable_lbl" xml:lang="en-US">Operating segments [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OperatingsegmentsTable" xlink:to="mgic_OperatingsegmentsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OperatingsegmentsLineItems" xlink:href="mgic-20221231.xsd#mgic_OperatingsegmentsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OperatingsegmentsLineItems_lbl" xml:lang="en-US">Operating segments [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OperatingsegmentsLineItems" xlink:to="mgic_OperatingsegmentsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TransitiontoIFRSTable" xlink:href="mgic-20221231.xsd#mgic_TransitiontoIFRSTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_TransitiontoIFRSTable_lbl" xml:lang="en-US">Transition to IFRS [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TransitiontoIFRSTable" xlink:to="mgic_TransitiontoIFRSTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TransitiontoIFRSLineItems" xlink:href="mgic-20221231.xsd#mgic_TransitiontoIFRSLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_TransitiontoIFRSLineItems_lbl" xml:lang="en-US">Transition to IFRS [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TransitiontoIFRSLineItems" xlink:to="mgic_TransitiontoIFRSLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SubsequentEventsTable" xlink:href="mgic-20221231.xsd#mgic_SubsequentEventsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SubsequentEventsTable_lbl" xml:lang="en-US">Subsequent Events [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SubsequentEventsTable" xlink:to="mgic_SubsequentEventsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SubsequentEventsLineItems" xlink:href="mgic-20221231.xsd#mgic_SubsequentEventsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SubsequentEventsLineItems_lbl" xml:lang="en-US">Subsequent Events [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SubsequentEventsLineItems" xlink:to="mgic_SubsequentEventsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SignificantAccountingPoliciesTablesTable" xlink:href="mgic-20221231.xsd#mgic_SignificantAccountingPoliciesTablesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SignificantAccountingPoliciesTablesTable_lbl" xml:lang="en-US">Significant Accounting Policies (Tables) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SignificantAccountingPoliciesTablesTable" xlink:to="mgic_SignificantAccountingPoliciesTablesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SignificantAccountingPoliciesTablesLineItems" xlink:href="mgic-20221231.xsd#mgic_SignificantAccountingPoliciesTablesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SignificantAccountingPoliciesTablesLineItems_lbl" xml:lang="en-US">Disclosure Of Significant Accounting Policies [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SignificantAccountingPoliciesTablesLineItems" xlink:to="mgic_SignificantAccountingPoliciesTablesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember_lbl" xml:lang="en-US">Entity&apos;s total for business combinations [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_BusinessCombinationsTablesTable" xlink:href="mgic-20221231.xsd#mgic_BusinessCombinationsTablesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_BusinessCombinationsTablesTable_lbl" xml:lang="en-US">Business Combinations (Tables) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_BusinessCombinationsTablesTable" xlink:to="mgic_BusinessCombinationsTablesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_BusinessCombinationsTablesLineItems" xlink:href="mgic-20221231.xsd#mgic_BusinessCombinationsTablesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_BusinessCombinationsTablesLineItems_lbl" xml:lang="en-US">Business Combinations (Tables) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_BusinessCombinationsTablesLineItems" xlink:to="mgic_BusinessCombinationsTablesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CashandCashEquivalentsTablesTable" xlink:href="mgic-20221231.xsd#mgic_CashandCashEquivalentsTablesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CashandCashEquivalentsTablesTable_lbl" xml:lang="en-US">Cash and Cash Equivalents (Tables) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashandCashEquivalentsTablesTable" xlink:to="mgic_CashandCashEquivalentsTablesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CashandCashEquivalentsTablesLineItems" xlink:href="mgic-20221231.xsd#mgic_CashandCashEquivalentsTablesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CashandCashEquivalentsTablesLineItems_lbl" xml:lang="en-US">Schedule Of Cash And Cash Equivalents [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashandCashEquivalentsTablesLineItems" xlink:to="mgic_CashandCashEquivalentsTablesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OtherAccountsReceivavableAndPrepaidExpesnesTablesTable" xlink:href="mgic-20221231.xsd#mgic_OtherAccountsReceivavableAndPrepaidExpesnesTablesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OtherAccountsReceivavableAndPrepaidExpesnesTablesTable_lbl" xml:lang="en-US">Other Accounts Receivavable And Prepaid Expesnes (Tables) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OtherAccountsReceivavableAndPrepaidExpesnesTablesTable" xlink:to="mgic_OtherAccountsReceivavableAndPrepaidExpesnesTablesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OtherAccountsReceivavableAndPrepaidExpesnesTablesLineItems" xlink:href="mgic-20221231.xsd#mgic_OtherAccountsReceivavableAndPrepaidExpesnesTablesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OtherAccountsReceivavableAndPrepaidExpesnesTablesLineItems_lbl" xml:lang="en-US">Disclosure Of Other Accounts Receivable And Prepaid Expenses [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OtherAccountsReceivavableAndPrepaidExpesnesTablesLineItems" xlink:to="mgic_OtherAccountsReceivavableAndPrepaidExpesnesTablesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FairValueMeasurementTablesTable" xlink:href="mgic-20221231.xsd#mgic_FairValueMeasurementTablesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_FairValueMeasurementTablesTable_lbl" xml:lang="en-US">Fair Value Measurement (Tables) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FairValueMeasurementTablesTable" xlink:to="mgic_FairValueMeasurementTablesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_FairValueMeasurementTablesLineItems" xlink:href="mgic-20221231.xsd#mgic_FairValueMeasurementTablesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_FairValueMeasurementTablesLineItems_lbl" xml:lang="en-US">Disclosure Of Fair Value Measurement [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FairValueMeasurementTablesLineItems" xlink:to="mgic_FairValueMeasurementTablesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PropertyPlantsandEquipmentNetTablesTable" xlink:href="mgic-20221231.xsd#mgic_PropertyPlantsandEquipmentNetTablesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_PropertyPlantsandEquipmentNetTablesTable_lbl" xml:lang="en-US">Property , Plants and Equipment , Net (Tables) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PropertyPlantsandEquipmentNetTablesTable" xlink:to="mgic_PropertyPlantsandEquipmentNetTablesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_PropertyPlantsandEquipmentNetTablesLineItems" xlink:href="mgic-20221231.xsd#mgic_PropertyPlantsandEquipmentNetTablesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_PropertyPlantsandEquipmentNetTablesLineItems_lbl" xml:lang="en-US">Disclosure Of Property Plant And Equipment [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PropertyPlantsandEquipmentNetTablesLineItems" xlink:to="mgic_PropertyPlantsandEquipmentNetTablesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IntangibleAssetsNetTablesTable" xlink:href="mgic-20221231.xsd#mgic_IntangibleAssetsNetTablesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IntangibleAssetsNetTablesTable_lbl" xml:lang="en-US">Intangible Assets, Net (Tables) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssetsNetTablesTable" xlink:to="mgic_IntangibleAssetsNetTablesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IntangibleAssetsNetTablesLineItems" xlink:href="mgic-20221231.xsd#mgic_IntangibleAssetsNetTablesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IntangibleAssetsNetTablesLineItems_lbl" xml:lang="en-US">Disclosure Of Intangible Assets Net [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssetsNetTablesLineItems" xlink:to="mgic_IntangibleAssetsNetTablesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_GoodwillTablesTable" xlink:href="mgic-20221231.xsd#mgic_GoodwillTablesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_GoodwillTablesTable_lbl" xml:lang="en-US">Goodwill (Tables) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_GoodwillTablesTable" xlink:to="mgic_GoodwillTablesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_GoodwillTablesLineItems" xlink:href="mgic-20221231.xsd#mgic_GoodwillTablesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_GoodwillTablesLineItems_lbl" xml:lang="en-US">Disclosure Of Goodwill [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_GoodwillTablesLineItems" xlink:to="mgic_GoodwillTablesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShortTermDebtsTablesTable" xlink:href="mgic-20221231.xsd#mgic_ShortTermDebtsTablesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShortTermDebtsTablesTable_lbl" xml:lang="en-US">Short Term Debts (Tables) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShortTermDebtsTablesTable" xlink:to="mgic_ShortTermDebtsTablesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShortTermDebtsTablesLineItems" xlink:href="mgic-20221231.xsd#mgic_ShortTermDebtsTablesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShortTermDebtsTablesLineItems_lbl" xml:lang="en-US">Disclosure Of Short Term Debts [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShortTermDebtsTablesLineItems" xlink:to="mgic_ShortTermDebtsTablesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LeasesTablesTable" xlink:href="mgic-20221231.xsd#mgic_LeasesTablesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LeasesTablesTable_lbl" xml:lang="en-US">Leases (Tables) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasesTablesTable" xlink:to="mgic_LeasesTablesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LeasesTablesLineItems" xlink:href="mgic-20221231.xsd#mgic_LeasesTablesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LeasesTablesLineItems_lbl" xml:lang="en-US">Disclosure Of Leases [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasesTablesLineItems" xlink:to="mgic_LeasesTablesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedPaymentsTablesTable" xlink:href="mgic-20221231.xsd#mgic_ShareBasedPaymentsTablesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareBasedPaymentsTablesTable_lbl" xml:lang="en-US">Share Based Payments (Tables) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedPaymentsTablesTable" xlink:to="mgic_ShareBasedPaymentsTablesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedPaymentsTablesLineItems" xlink:href="mgic-20221231.xsd#mgic_ShareBasedPaymentsTablesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareBasedPaymentsTablesLineItems_lbl" xml:lang="en-US">Disclosure Of Share Based Payment Arrangements [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedPaymentsTablesLineItems" xlink:to="mgic_ShareBasedPaymentsTablesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EmployeeBenefitLiabilitiesTablesTable" xlink:href="mgic-20221231.xsd#mgic_EmployeeBenefitLiabilitiesTablesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_EmployeeBenefitLiabilitiesTablesTable_lbl" xml:lang="en-US">Employee Benefit Liabilities (Tables) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EmployeeBenefitLiabilitiesTablesTable" xlink:to="mgic_EmployeeBenefitLiabilitiesTablesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EmployeeBenefitLiabilitiesTablesLineItems" xlink:href="mgic-20221231.xsd#mgic_EmployeeBenefitLiabilitiesTablesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_EmployeeBenefitLiabilitiesTablesLineItems_lbl" xml:lang="en-US">Disclosure of Employee Benfit Liabilities [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EmployeeBenefitLiabilitiesTablesLineItems" xlink:to="mgic_EmployeeBenefitLiabilitiesTablesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EquityTablesTable" xlink:href="mgic-20221231.xsd#mgic_EquityTablesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_EquityTablesTable_lbl" xml:lang="en-US">Equity (Tables) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EquityTablesTable" xlink:to="mgic_EquityTablesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EquityTablesLineItems" xlink:href="mgic-20221231.xsd#mgic_EquityTablesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_EquityTablesLineItems_lbl" xml:lang="en-US">Disclosure Of Equity [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EquityTablesLineItems" xlink:to="mgic_EquityTablesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SelectedStatementsofIncomeDataTablesTable" xlink:href="mgic-20221231.xsd#mgic_SelectedStatementsofIncomeDataTablesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SelectedStatementsofIncomeDataTablesTable_lbl" xml:lang="en-US">Selected Statements of Income Data (Tables) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SelectedStatementsofIncomeDataTablesTable" xlink:to="mgic_SelectedStatementsofIncomeDataTablesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SelectedStatementsofIncomeDataTablesLineItems" xlink:href="mgic-20221231.xsd#mgic_SelectedStatementsofIncomeDataTablesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SelectedStatementsofIncomeDataTablesLineItems_lbl" xml:lang="en-US">Disclosure Of Selected Statements of Income Data [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SelectedStatementsofIncomeDataTablesLineItems" xlink:to="mgic_SelectedStatementsofIncomeDataTablesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OperatingsegmentsTablesTable" xlink:href="mgic-20221231.xsd#mgic_OperatingsegmentsTablesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OperatingsegmentsTablesTable_lbl" xml:lang="en-US">Operating segments (Tables) [Table]</label>
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    <loc xlink:type="locator" xlink:label="ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AllLevelsOfFairValueHierarchyMember"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetsofcompositionandmovementTable_lbl" xml:lang="en-US">Intangible Assets, Net (Details) - Schedule of intangible assets of composition and movement [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetsofcompositionandmovementTable" xlink:to="mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetsofcompositionandmovementTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetsofcompositionandmovementLineItems" xlink:href="mgic-20221231.xsd#mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetsofcompositionandmovementLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetsofcompositionandmovementLineItems_lbl" xml:lang="en-US">Schedule Of Intangible Assets Of Composition And Movement [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetsofcompositionandmovementLineItems" xlink:to="mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetsofcompositionandmovementLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IntangibleAssetsNetDetailsScheduleofamortizationexpensesrelatedtointangibleassetsTable" xlink:href="mgic-20221231.xsd#mgic_IntangibleAssetsNetDetailsScheduleofamortizationexpensesrelatedtointangibleassetsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IntangibleAssetsNetDetailsScheduleofamortizationexpensesrelatedtointangibleassetsTable_lbl" xml:lang="en-US">Intangible Assets, Net (Details) - Schedule of amortization expenses related to intangible assets [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssetsNetDetailsScheduleofamortizationexpensesrelatedtointangibleassetsTable" xlink:to="mgic_IntangibleAssetsNetDetailsScheduleofamortizationexpensesrelatedtointangibleassetsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IntangibleAssetsNetDetailsScheduleofamortizationexpensesrelatedtointangibleassetsLineItems" xlink:href="mgic-20221231.xsd#mgic_IntangibleAssetsNetDetailsScheduleofamortizationexpensesrelatedtointangibleassetsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IntangibleAssetsNetDetailsScheduleofamortizationexpensesrelatedtointangibleassetsLineItems_lbl" xml:lang="en-US">Schedule Of Amortization Expenses Related To Intangible Assets [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssetsNetDetailsScheduleofamortizationexpensesrelatedtointangibleassetsLineItems" xlink:to="mgic_IntangibleAssetsNetDetailsScheduleofamortizationexpensesrelatedtointangibleassetsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetscompositionbyreportablesegmentTable" xlink:href="mgic-20221231.xsd#mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetscompositionbyreportablesegmentTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetscompositionbyreportablesegmentTable_lbl" xml:lang="en-US">Intangible Assets, Net (Details) - Schedule of intangible assets composition by reportable segment [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetscompositionbyreportablesegmentTable" xlink:to="mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetscompositionbyreportablesegmentTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetscompositionbyreportablesegmentLineItems" xlink:href="mgic-20221231.xsd#mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetscompositionbyreportablesegmentLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetscompositionbyreportablesegmentLineItems_lbl" xml:lang="en-US">Intangible Assets, Net (Details) - Schedule of intangible assets composition by reportable segment [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetscompositionbyreportablesegmentLineItems" xlink:to="mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetscompositionbyreportablesegmentLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IntangibleAssetsNetDetailsScheduleofestimatedfutureamortizationofintangibleassetsTable" xlink:href="mgic-20221231.xsd#mgic_IntangibleAssetsNetDetailsScheduleofestimatedfutureamortizationofintangibleassetsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IntangibleAssetsNetDetailsScheduleofestimatedfutureamortizationofintangibleassetsTable_lbl" xml:lang="en-US">Intangible Assets, Net (Details) - Schedule of estimated future amortization of intangible assets [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssetsNetDetailsScheduleofestimatedfutureamortizationofintangibleassetsTable" xlink:to="mgic_IntangibleAssetsNetDetailsScheduleofestimatedfutureamortizationofintangibleassetsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IntangibleAssetsNetDetailsScheduleofestimatedfutureamortizationofintangibleassetsLineItems" xlink:href="mgic-20221231.xsd#mgic_IntangibleAssetsNetDetailsScheduleofestimatedfutureamortizationofintangibleassetsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IntangibleAssetsNetDetailsScheduleofestimatedfutureamortizationofintangibleassetsLineItems_lbl" xml:lang="en-US">Schedule Of Estimated Future Amortization Of Intangible Assets [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssetsNetDetailsScheduleofestimatedfutureamortizationofintangibleassetsLineItems" xlink:to="mgic_IntangibleAssetsNetDetailsScheduleofestimatedfutureamortizationofintangibleassetsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_ProductsAndServicesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProductsAndServicesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProductsAndServicesMember_lbl" xml:lang="en-US">Products and services [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProductsAndServicesMember" xlink:to="ifrs-full_ProductsAndServicesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_GoodwillDetailsScheduleofcarryingamountofgoodwillTable" xlink:href="mgic-20221231.xsd#mgic_GoodwillDetailsScheduleofcarryingamountofgoodwillTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_GoodwillDetailsScheduleofcarryingamountofgoodwillTable_lbl" xml:lang="en-US">Goodwill (Details) - Schedule of carrying amount of goodwill [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_GoodwillDetailsScheduleofcarryingamountofgoodwillTable" xlink:to="mgic_GoodwillDetailsScheduleofcarryingamountofgoodwillTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_GoodwillDetailsScheduleofcarryingamountofgoodwillLineItems" xlink:href="mgic-20221231.xsd#mgic_GoodwillDetailsScheduleofcarryingamountofgoodwillLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_GoodwillDetailsScheduleofcarryingamountofgoodwillLineItems_lbl" xml:lang="en-US">Goodwill (Details) - Schedule of carrying amount of goodwill [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_GoodwillDetailsScheduleofcarryingamountofgoodwillLineItems" xlink:to="mgic_GoodwillDetailsScheduleofcarryingamountofgoodwillLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_GoodwillDetailsScheduleofassessmentforgoodwillimpairmentTable" xlink:href="mgic-20221231.xsd#mgic_GoodwillDetailsScheduleofassessmentforgoodwillimpairmentTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_GoodwillDetailsScheduleofassessmentforgoodwillimpairmentTable_lbl" xml:lang="en-US">Goodwill (Details) - Schedule of assessment for goodwill impairment [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_GoodwillDetailsScheduleofassessmentforgoodwillimpairmentTable" xlink:to="mgic_GoodwillDetailsScheduleofassessmentforgoodwillimpairmentTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_GoodwillDetailsScheduleofassessmentforgoodwillimpairmentLineItems" xlink:href="mgic-20221231.xsd#mgic_GoodwillDetailsScheduleofassessmentforgoodwillimpairmentLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_GoodwillDetailsScheduleofassessmentforgoodwillimpairmentLineItems_lbl" xml:lang="en-US">Goodwill (Details) - Schedule of assessment for goodwill impairment [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_GoodwillDetailsScheduleofassessmentforgoodwillimpairmentLineItems" xlink:to="mgic_GoodwillDetailsScheduleofassessmentforgoodwillimpairmentLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShortTermDebtsTypeDomain" xlink:href="mgic-20221231.xsd#mgic_ShortTermDebtsTypeDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShortTermDebtsTypeDomain_lbl" xml:lang="en-US">ShortTermDebtsType [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShortTermDebtsTypeDomain" xlink:to="mgic_ShortTermDebtsTypeDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsTable" xlink:href="mgic-20221231.xsd#mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsTable_lbl" xml:lang="en-US">Short Term Debts (Details) - Schedule of short term debts [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsTable" xlink:to="mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsLineItems" xlink:href="mgic-20221231.xsd#mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsLineItems_lbl" xml:lang="en-US">Short Term Debts (Details) - Schedule of short term debts [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsLineItems" xlink:to="mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LongTermDebtDomain" xlink:href="mgic-20221231.xsd#mgic_LongTermDebtDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LongTermDebtDomain_lbl" xml:lang="en-US">LongTermDebt [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LongTermDebtDomain" xlink:to="mgic_LongTermDebtDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LongTermDebtsDetailsScheduleoflongtermliabilitiesTable" xlink:href="mgic-20221231.xsd#mgic_LongTermDebtsDetailsScheduleoflongtermliabilitiesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LongTermDebtsDetailsScheduleoflongtermliabilitiesTable_lbl" xml:lang="en-US">Long Term Debts (Details) - Schedule of long term liabilities [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LongTermDebtsDetailsScheduleoflongtermliabilitiesTable" xlink:to="mgic_LongTermDebtsDetailsScheduleoflongtermliabilitiesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LongTermDebtsDetailsScheduleoflongtermliabilitiesLineItems" xlink:href="mgic-20221231.xsd#mgic_LongTermDebtsDetailsScheduleoflongtermliabilitiesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LongTermDebtsDetailsScheduleoflongtermliabilitiesLineItems_lbl" xml:lang="en-US">Long Term Debts (Details) - Schedule of long term liabilities [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LongTermDebtsDetailsScheduleoflongtermliabilitiesLineItems" xlink:to="mgic_LongTermDebtsDetailsScheduleoflongtermliabilitiesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LongTermDebtsDetailsScheduleofmaturitydatesTable" xlink:href="mgic-20221231.xsd#mgic_LongTermDebtsDetailsScheduleofmaturitydatesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LongTermDebtsDetailsScheduleofmaturitydatesTable_lbl" xml:lang="en-US">Long Term Debts (Details) - Schedule of maturity dates [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LongTermDebtsDetailsScheduleofmaturitydatesTable" xlink:to="mgic_LongTermDebtsDetailsScheduleofmaturitydatesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LongTermDebtsDetailsScheduleofmaturitydatesLineItems" xlink:href="mgic-20221231.xsd#mgic_LongTermDebtsDetailsScheduleofmaturitydatesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LongTermDebtsDetailsScheduleofmaturitydatesLineItems_lbl" xml:lang="en-US">Schedule Of Maturity Dates [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LongTermDebtsDetailsScheduleofmaturitydatesLineItems" xlink:to="mgic_LongTermDebtsDetailsScheduleofmaturitydatesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_AggregatedTimeBandsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AggregatedTimeBandsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AggregatedTimeBandsMember_lbl" xml:lang="en-US">Aggregated time bands [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AggregatedTimeBandsMember" xlink:to="ifrs-full_AggregatedTimeBandsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LeasesDetailsScheduleofmaturityanalysisofundiscountedfutureleasepaymentsforleaseliabilitiesTable" xlink:href="mgic-20221231.xsd#mgic_LeasesDetailsScheduleofmaturityanalysisofundiscountedfutureleasepaymentsforleaseliabilitiesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LeasesDetailsScheduleofmaturityanalysisofundiscountedfutureleasepaymentsforleaseliabilitiesTable_lbl" xml:lang="en-US">Leases (Details) - Schedule of maturity analysis of undiscounted future lease payments for lease liabilities [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasesDetailsScheduleofmaturityanalysisofundiscountedfutureleasepaymentsforleaseliabilitiesTable" xlink:to="mgic_LeasesDetailsScheduleofmaturityanalysisofundiscountedfutureleasepaymentsforleaseliabilitiesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LeasesDetailsScheduleofmaturityanalysisofundiscountedfutureleasepaymentsforleaseliabilitiesLineItems" xlink:href="mgic-20221231.xsd#mgic_LeasesDetailsScheduleofmaturityanalysisofundiscountedfutureleasepaymentsforleaseliabilitiesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LeasesDetailsScheduleofmaturityanalysisofundiscountedfutureleasepaymentsforleaseliabilitiesLineItems_lbl" xml:lang="en-US">Schedule of Maturity Analysis of Undiscounted Future Lease Payments for Lease Liabilities [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasesDetailsScheduleofmaturityanalysisofundiscountedfutureleasepaymentsforleaseliabilitiesLineItems" xlink:to="mgic_LeasesDetailsScheduleofmaturityanalysisofundiscountedfutureleasepaymentsforleaseliabilitiesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LeasesDetailsScheduleofleaseinformationTable" xlink:href="mgic-20221231.xsd#mgic_LeasesDetailsScheduleofleaseinformationTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LeasesDetailsScheduleofleaseinformationTable_lbl" xml:lang="en-US">Leases (Details) - Schedule of lease information [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasesDetailsScheduleofleaseinformationTable" xlink:to="mgic_LeasesDetailsScheduleofleaseinformationTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LeasesDetailsScheduleofleaseinformationLineItems" xlink:href="mgic-20221231.xsd#mgic_LeasesDetailsScheduleofleaseinformationLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LeasesDetailsScheduleofleaseinformationLineItems_lbl" xml:lang="en-US">Schedule of Lease Information [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasesDetailsScheduleofleaseinformationLineItems" xlink:to="mgic_LeasesDetailsScheduleofleaseinformationLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LeasesDetailsScheduleofweightedaverageremainingleasetermsTable" xlink:href="mgic-20221231.xsd#mgic_LeasesDetailsScheduleofweightedaverageremainingleasetermsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LeasesDetailsScheduleofweightedaverageremainingleasetermsTable_lbl" xml:lang="en-US">Leases (Details) - Schedule of weighted average remaining lease terms [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasesDetailsScheduleofweightedaverageremainingleasetermsTable" xlink:to="mgic_LeasesDetailsScheduleofweightedaverageremainingleasetermsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LeasesDetailsScheduleofweightedaverageremainingleasetermsLineItems" xlink:href="mgic-20221231.xsd#mgic_LeasesDetailsScheduleofweightedaverageremainingleasetermsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LeasesDetailsScheduleofweightedaverageremainingleasetermsLineItems_lbl" xml:lang="en-US">Schedule of Weighted Average Remaining Lease Terms [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasesDetailsScheduleofweightedaverageremainingleasetermsLineItems" xlink:to="mgic_LeasesDetailsScheduleofweightedaverageremainingleasetermsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_CarryingAmountMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CarryingAmountMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CarryingAmountMember_lbl" xml:lang="en-US">Carrying amount [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CarryingAmountMember" xlink:to="ifrs-full_CarryingAmountMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LeasesDetailsScheduleofrightofuseassetsTable" xlink:href="mgic-20221231.xsd#mgic_LeasesDetailsScheduleofrightofuseassetsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LeasesDetailsScheduleofrightofuseassetsTable_lbl" xml:lang="en-US">Leases (Details) - Schedule of right-of-use assets [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasesDetailsScheduleofrightofuseassetsTable" xlink:to="mgic_LeasesDetailsScheduleofrightofuseassetsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_LeasesDetailsScheduleofrightofuseassetsLineItems" xlink:href="mgic-20221231.xsd#mgic_LeasesDetailsScheduleofrightofuseassetsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LeasesDetailsScheduleofrightofuseassetsLineItems_lbl" xml:lang="en-US">Schedule of Right-Of-Use Assets [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasesDetailsScheduleofrightofuseassetsLineItems" xlink:to="mgic_LeasesDetailsScheduleofrightofuseassetsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleoffairvalueoftheoptionsgrantedusingtheBinomialmodelTable" xlink:href="mgic-20221231.xsd#mgic_ShareBasedPaymentsDetailsScheduleoffairvalueoftheoptionsgrantedusingtheBinomialmodelTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleoffairvalueoftheoptionsgrantedusingtheBinomialmodelTable_lbl" xml:lang="en-US">Share Based Payments (Details) - Schedule of fair value of the options granted using the Binomial model [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedPaymentsDetailsScheduleoffairvalueoftheoptionsgrantedusingtheBinomialmodelTable" xlink:to="mgic_ShareBasedPaymentsDetailsScheduleoffairvalueoftheoptionsgrantedusingtheBinomialmodelTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleoffairvalueoftheoptionsgrantedusingtheBinomialmodelLineItems" xlink:href="mgic-20221231.xsd#mgic_ShareBasedPaymentsDetailsScheduleoffairvalueoftheoptionsgrantedusingtheBinomialmodelLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleoffairvalueoftheoptionsgrantedusingtheBinomialmodelLineItems_lbl" xml:lang="en-US">Schedule of Fair Value of the Options Granted Using the Binomial Model [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedPaymentsDetailsScheduleoffairvalueoftheoptionsgrantedusingtheBinomialmodelLineItems" xlink:to="mgic_ShareBasedPaymentsDetailsScheduleoffairvalueoftheoptionsgrantedusingtheBinomialmodelLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_SharebasedPaymentArrangementsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_SharebasedPaymentArrangementsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SharebasedPaymentArrangementsMember_lbl" xml:lang="en-US">Share-based payment arrangements [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SharebasedPaymentArrangementsMember" xlink:to="ifrs-full_SharebasedPaymentArrangementsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleofemployeeoptionactivityTable" xlink:href="mgic-20221231.xsd#mgic_ShareBasedPaymentsDetailsScheduleofemployeeoptionactivityTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleofemployeeoptionactivityTable_lbl" xml:lang="en-US">Share Based Payments (Details) - Schedule of employee option activity [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedPaymentsDetailsScheduleofemployeeoptionactivityTable" xlink:to="mgic_ShareBasedPaymentsDetailsScheduleofemployeeoptionactivityTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleofemployeeoptionactivityLineItems" xlink:href="mgic-20221231.xsd#mgic_ShareBasedPaymentsDetailsScheduleofemployeeoptionactivityLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleofemployeeoptionactivityLineItems_lbl" xml:lang="en-US">Schedule of Employee Option Activity [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedPaymentsDetailsScheduleofemployeeoptionactivityLineItems" xlink:to="mgic_ShareBasedPaymentsDetailsScheduleofemployeeoptionactivityLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleofoptionsoutstandingTable" xlink:href="mgic-20221231.xsd#mgic_ShareBasedPaymentsDetailsScheduleofoptionsoutstandingTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleofoptionsoutstandingTable_lbl" xml:lang="en-US">Share Based Payments (Details) - Schedule of options outstanding [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedPaymentsDetailsScheduleofoptionsoutstandingTable" xlink:to="mgic_ShareBasedPaymentsDetailsScheduleofoptionsoutstandingTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleofoptionsoutstandingLineItems" xlink:href="mgic-20221231.xsd#mgic_ShareBasedPaymentsDetailsScheduleofoptionsoutstandingLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleofoptionsoutstandingLineItems_lbl" xml:lang="en-US">Schedule of Options Outstanding [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedPaymentsDetailsScheduleofoptionsoutstandingLineItems" xlink:to="mgic_ShareBasedPaymentsDetailsScheduleofoptionsoutstandingLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleofsharebasedpaymentexpenserelatedtoemployeestockoptionTable" xlink:href="mgic-20221231.xsd#mgic_ShareBasedPaymentsDetailsScheduleofsharebasedpaymentexpenserelatedtoemployeestockoptionTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleofsharebasedpaymentexpenserelatedtoemployeestockoptionTable_lbl" xml:lang="en-US">Share Based Payments (Details) - Schedule of share-based payment expense related to employee stock option [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedPaymentsDetailsScheduleofsharebasedpaymentexpenserelatedtoemployeestockoptionTable" xlink:to="mgic_ShareBasedPaymentsDetailsScheduleofsharebasedpaymentexpenserelatedtoemployeestockoptionTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleofsharebasedpaymentexpenserelatedtoemployeestockoptionLineItems" xlink:href="mgic-20221231.xsd#mgic_ShareBasedPaymentsDetailsScheduleofsharebasedpaymentexpenserelatedtoemployeestockoptionLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareBasedPaymentsDetailsScheduleofsharebasedpaymentexpenserelatedtoemployeestockoptionLineItems_lbl" xml:lang="en-US">Schedule of Share-Based Payment Expense Related to Employee Stock Option [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedPaymentsDetailsScheduleofsharebasedpaymentexpenserelatedtoemployeestockoptionLineItems" xlink:to="mgic_ShareBasedPaymentsDetailsScheduleofsharebasedpaymentexpenserelatedtoemployeestockoptionLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EmployeeBenefitLiabilitiesDetailsScheduleofdefinedbenefitplansTable" xlink:href="mgic-20221231.xsd#mgic_EmployeeBenefitLiabilitiesDetailsScheduleofdefinedbenefitplansTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_EmployeeBenefitLiabilitiesDetailsScheduleofdefinedbenefitplansTable_lbl" xml:lang="en-US">Employee Benefit Liabilities (Details) - Schedule of defined benefit plans [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EmployeeBenefitLiabilitiesDetailsScheduleofdefinedbenefitplansTable" xlink:to="mgic_EmployeeBenefitLiabilitiesDetailsScheduleofdefinedbenefitplansTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EmployeeBenefitLiabilitiesDetailsScheduleofdefinedbenefitplansLineItems" xlink:href="mgic-20221231.xsd#mgic_EmployeeBenefitLiabilitiesDetailsScheduleofdefinedbenefitplansLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_EmployeeBenefitLiabilitiesDetailsScheduleofdefinedbenefitplansLineItems_lbl" xml:lang="en-US">Schedule Of Defined Benefit Plans [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EmployeeBenefitLiabilitiesDetailsScheduleofdefinedbenefitplansLineItems" xlink:to="mgic_EmployeeBenefitLiabilitiesDetailsScheduleofdefinedbenefitplansLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EquityDetailsScheduleofaccumulatedothercomprehensiveincomelossTable" xlink:href="mgic-20221231.xsd#mgic_EquityDetailsScheduleofaccumulatedothercomprehensiveincomelossTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_EquityDetailsScheduleofaccumulatedothercomprehensiveincomelossTable_lbl" xml:lang="en-US">Equity (Details) - Schedule of accumulated other comprehensive income (loss) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EquityDetailsScheduleofaccumulatedothercomprehensiveincomelossTable" xlink:to="mgic_EquityDetailsScheduleofaccumulatedothercomprehensiveincomelossTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_EquityDetailsScheduleofaccumulatedothercomprehensiveincomelossLineItems" xlink:href="mgic-20221231.xsd#mgic_EquityDetailsScheduleofaccumulatedothercomprehensiveincomelossLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_EquityDetailsScheduleofaccumulatedothercomprehensiveincomelossLineItems_lbl" xml:lang="en-US">Schedule of Accumulated Other Comprehensive Incomeloss [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EquityDetailsScheduleofaccumulatedothercomprehensiveincomelossLineItems" xlink:to="mgic_EquityDetailsScheduleofaccumulatedothercomprehensiveincomelossLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_RevenueRecognitionDetailsScheduleofpastduebutnotimpairedtradereceivablesTable" xlink:href="mgic-20221231.xsd#mgic_RevenueRecognitionDetailsScheduleofpastduebutnotimpairedtradereceivablesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_RevenueRecognitionDetailsScheduleofpastduebutnotimpairedtradereceivablesTable_lbl" xml:lang="en-US">Revenue Recognition (Details) - Schedule of past due but not impaired trade receivables [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RevenueRecognitionDetailsScheduleofpastduebutnotimpairedtradereceivablesTable" xlink:to="mgic_RevenueRecognitionDetailsScheduleofpastduebutnotimpairedtradereceivablesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_RevenueRecognitionDetailsScheduleofpastduebutnotimpairedtradereceivablesLineItems" xlink:href="mgic-20221231.xsd#mgic_RevenueRecognitionDetailsScheduleofpastduebutnotimpairedtradereceivablesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_RevenueRecognitionDetailsScheduleofpastduebutnotimpairedtradereceivablesLineItems_lbl" xml:lang="en-US">Revenue Recognition (Details) - Schedule of past due but not impaired trade receivables [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RevenueRecognitionDetailsScheduleofpastduebutnotimpairedtradereceivablesLineItems" xlink:to="mgic_RevenueRecognitionDetailsScheduleofpastduebutnotimpairedtradereceivablesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SelectedStatementsofIncomeDataDetailsScheduleofresearchanddevelopmentcostsnetTable" xlink:href="mgic-20221231.xsd#mgic_SelectedStatementsofIncomeDataDetailsScheduleofresearchanddevelopmentcostsnetTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SelectedStatementsofIncomeDataDetailsScheduleofresearchanddevelopmentcostsnetTable_lbl" xml:lang="en-US">Selected Statements of Income Data (Details) - Schedule of research and development costs, net [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SelectedStatementsofIncomeDataDetailsScheduleofresearchanddevelopmentcostsnetTable" xlink:to="mgic_SelectedStatementsofIncomeDataDetailsScheduleofresearchanddevelopmentcostsnetTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SelectedStatementsofIncomeDataDetailsScheduleofresearchanddevelopmentcostsnetLineItems" xlink:href="mgic-20221231.xsd#mgic_SelectedStatementsofIncomeDataDetailsScheduleofresearchanddevelopmentcostsnetLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SelectedStatementsofIncomeDataDetailsScheduleofresearchanddevelopmentcostsnetLineItems_lbl" xml:lang="en-US">Schedule of Research and Development Costs, Net [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SelectedStatementsofIncomeDataDetailsScheduleofresearchanddevelopmentcostsnetLineItems" xlink:to="mgic_SelectedStatementsofIncomeDataDetailsScheduleofresearchanddevelopmentcostsnetLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SelectedStatementsofIncomeDataDetailsScheduleofsellingandmarketingexpensesTable" xlink:href="mgic-20221231.xsd#mgic_SelectedStatementsofIncomeDataDetailsScheduleofsellingandmarketingexpensesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SelectedStatementsofIncomeDataDetailsScheduleofsellingandmarketingexpensesTable_lbl" xml:lang="en-US">Selected Statements of Income Data (Details) - Schedule of selling and marketing expenses [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SelectedStatementsofIncomeDataDetailsScheduleofsellingandmarketingexpensesTable" xlink:to="mgic_SelectedStatementsofIncomeDataDetailsScheduleofsellingandmarketingexpensesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SelectedStatementsofIncomeDataDetailsScheduleofsellingandmarketingexpensesLineItems" xlink:href="mgic-20221231.xsd#mgic_SelectedStatementsofIncomeDataDetailsScheduleofsellingandmarketingexpensesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SelectedStatementsofIncomeDataDetailsScheduleofsellingandmarketingexpensesLineItems_lbl" xml:lang="en-US">Selected Statements of Income Data (Details) - Schedule of selling and marketing expenses [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SelectedStatementsofIncomeDataDetailsScheduleofsellingandmarketingexpensesLineItems" xlink:to="mgic_SelectedStatementsofIncomeDataDetailsScheduleofsellingandmarketingexpensesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_LineItemsByFunctionMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LineItemsByFunctionMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LineItemsByFunctionMember_lbl" xml:lang="en-US">Line items by function [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LineItemsByFunctionMember" xlink:to="ifrs-full_LineItemsByFunctionMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SelectedStatementsofIncomeDataDetailsScheduleofgeneralandadministrativeexpensesTable" xlink:href="mgic-20221231.xsd#mgic_SelectedStatementsofIncomeDataDetailsScheduleofgeneralandadministrativeexpensesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SelectedStatementsofIncomeDataDetailsScheduleofgeneralandadministrativeexpensesTable_lbl" xml:lang="en-US">Selected Statements of Income Data (Details) - Schedule of general and administrative expenses [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SelectedStatementsofIncomeDataDetailsScheduleofgeneralandadministrativeexpensesTable" xlink:to="mgic_SelectedStatementsofIncomeDataDetailsScheduleofgeneralandadministrativeexpensesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SelectedStatementsofIncomeDataDetailsScheduleofgeneralandadministrativeexpensesLineItems" xlink:href="mgic-20221231.xsd#mgic_SelectedStatementsofIncomeDataDetailsScheduleofgeneralandadministrativeexpensesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SelectedStatementsofIncomeDataDetailsScheduleofgeneralandadministrativeexpensesLineItems_lbl" xml:lang="en-US">Selected Statements of Income Data (Details) - Schedule of general and administrative expenses [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SelectedStatementsofIncomeDataDetailsScheduleofgeneralandadministrativeexpensesLineItems" xlink:to="mgic_SelectedStatementsofIncomeDataDetailsScheduleofgeneralandadministrativeexpensesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SelectedStatementsofIncomeDataDetailsScheduleoffinancialincomeandexpensesTable" xlink:href="mgic-20221231.xsd#mgic_SelectedStatementsofIncomeDataDetailsScheduleoffinancialincomeandexpensesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SelectedStatementsofIncomeDataDetailsScheduleoffinancialincomeandexpensesTable_lbl" xml:lang="en-US">Selected Statements of Income Data (Details) - Schedule of financial income and expenses [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SelectedStatementsofIncomeDataDetailsScheduleoffinancialincomeandexpensesTable" xlink:to="mgic_SelectedStatementsofIncomeDataDetailsScheduleoffinancialincomeandexpensesTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SelectedStatementsofIncomeDataDetailsScheduleoffinancialincomeandexpensesLineItems" xlink:href="mgic-20221231.xsd#mgic_SelectedStatementsofIncomeDataDetailsScheduleoffinancialincomeandexpensesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SelectedStatementsofIncomeDataDetailsScheduleoffinancialincomeandexpensesLineItems_lbl" xml:lang="en-US">Schedule of Financial Income and Expenses [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SelectedStatementsofIncomeDataDetailsScheduleoffinancialincomeandexpensesLineItems" xlink:to="mgic_SelectedStatementsofIncomeDataDetailsScheduleoffinancialincomeandexpensesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_SegmentsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_SegmentsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SegmentsMember_lbl" xml:lang="en-US">Segments [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SegmentsMember" xlink:to="ifrs-full_SegmentsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OperatingsegmentsDetailsScheduleofreportedsegmentresultsofoperationTable" xlink:href="mgic-20221231.xsd#mgic_OperatingsegmentsDetailsScheduleofreportedsegmentresultsofoperationTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OperatingsegmentsDetailsScheduleofreportedsegmentresultsofoperationTable_lbl" xml:lang="en-US">Operating segments (Details) - Schedule of reported segment results of operation [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OperatingsegmentsDetailsScheduleofreportedsegmentresultsofoperationTable" xlink:to="mgic_OperatingsegmentsDetailsScheduleofreportedsegmentresultsofoperationTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OperatingsegmentsDetailsScheduleofreportedsegmentresultsofoperationLineItems" xlink:href="mgic-20221231.xsd#mgic_OperatingsegmentsDetailsScheduleofreportedsegmentresultsofoperationLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OperatingsegmentsDetailsScheduleofreportedsegmentresultsofoperationLineItems_lbl" xml:lang="en-US">Operating segments (Details) - Schedule of reported segment results of operation [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OperatingsegmentsDetailsScheduleofreportedsegmentresultsofoperationLineItems" xlink:to="mgic_OperatingsegmentsDetailsScheduleofreportedsegmentresultsofoperationLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="srt_SegmentGeographicalDomain" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_SegmentGeographicalDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_SegmentGeographicalDomain_lbl" xml:lang="en-US">Geographical [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_SegmentGeographicalDomain" xlink:to="srt_SegmentGeographicalDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsclassifiedaccordingtogeographicaldestinationTable" xlink:href="mgic-20221231.xsd#mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsclassifiedaccordingtogeographicaldestinationTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsclassifiedaccordingtogeographicaldestinationTable_lbl" xml:lang="en-US">Operating segments (Details) - Schedule of long-lived assets classified according to geographical destination [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsclassifiedaccordingtogeographicaldestinationTable" xlink:to="mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsclassifiedaccordingtogeographicaldestinationTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsclassifiedaccordingtogeographicaldestinationLineItems" xlink:href="mgic-20221231.xsd#mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsclassifiedaccordingtogeographicaldestinationLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsclassifiedaccordingtogeographicaldestinationLineItems_lbl" xml:lang="en-US">Operating segments (Details) - Schedule of long-lived assets classified according to geographical destination [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsclassifiedaccordingtogeographicaldestinationLineItems" xlink:to="mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsclassifiedaccordingtogeographicaldestinationLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsTable" xlink:href="mgic-20221231.xsd#mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsTable_lbl" xml:lang="en-US">Operating segments (Details) - Schedule of long-lived assets [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsTable" xlink:to="mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsLineItems" xlink:href="mgic-20221231.xsd#mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsLineItems_lbl" xml:lang="en-US">Operating segments (Details) - Schedule of long-lived assets [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsLineItems" xlink:to="mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_AccountingStandardsDomain" xlink:href="mgic-20221231.xsd#mgic_AccountingStandardsDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AccountingStandardsDomain_lbl" xml:lang="en-US">AccountingStandards [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccountingStandardsDomain" xlink:to="mgic_AccountingStandardsDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TransitiontoIFRSDetailsScheduleofreconciliationofstatementsoffinancialpositionTable" xlink:href="mgic-20221231.xsd#mgic_TransitiontoIFRSDetailsScheduleofreconciliationofstatementsoffinancialpositionTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_TransitiontoIFRSDetailsScheduleofreconciliationofstatementsoffinancialpositionTable_lbl" xml:lang="en-US">Transition to IFRS (Details) - Schedule of reconciliation of statements of financial position [Table]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TransitiontoIFRSDetailsScheduleofequityattributabletoMagicsshareholdersTable" xlink:to="mgic_TransitiontoIFRSDetailsScheduleofequityattributabletoMagicsshareholdersTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TransitiontoIFRSDetailsScheduleofequityattributabletoMagicsshareholdersLineItems" xlink:href="mgic-20221231.xsd#mgic_TransitiontoIFRSDetailsScheduleofequityattributabletoMagicsshareholdersLineItems"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TransitiontoIFRSDetailsScheduleofequityattributabletoMagicsshareholdersLineItems" xlink:to="mgic_TransitiontoIFRSDetailsScheduleofequityattributabletoMagicsshareholdersLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SignificantAccountingPoliciesDetailsTable" xlink:href="mgic-20221231.xsd#mgic_SignificantAccountingPoliciesDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SignificantAccountingPoliciesDetailsTable_lbl" xml:lang="en-US">Significant Accounting Policies (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SignificantAccountingPoliciesDetailsTable" xlink:to="mgic_SignificantAccountingPoliciesDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SignificantAccountingPoliciesDetailsLineItems" xlink:href="mgic-20221231.xsd#mgic_SignificantAccountingPoliciesDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SignificantAccountingPoliciesDetailsLineItems_lbl" xml:lang="en-US">Significant Accounting Policies (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SignificantAccountingPoliciesDetailsLineItems" xlink:to="mgic_SignificantAccountingPoliciesDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_NonadjustingEventsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NonadjustingEventsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NonadjustingEventsMember_lbl" xml:lang="en-US">Non-adjusting events after reporting period [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NonadjustingEventsMember" xlink:to="ifrs-full_NonadjustingEventsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_BusinessCombinationsDetailsTable" xlink:href="mgic-20221231.xsd#mgic_BusinessCombinationsDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_BusinessCombinationsDetailsTable_lbl" xml:lang="en-US">Business Combinations (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_BusinessCombinationsDetailsTable" xlink:to="mgic_BusinessCombinationsDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_BusinessCombinationsDetailsLineItems" xlink:href="mgic-20221231.xsd#mgic_BusinessCombinationsDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_BusinessCombinationsDetailsLineItems_lbl" xml:lang="en-US">Business Combinations (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_BusinessCombinationsDetailsLineItems" xlink:to="mgic_BusinessCombinationsDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember_lbl" xml:lang="en-US">Entity&apos;s total for related parties [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:to="ifrs-full_EntitysTotalForRelatedPartiesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_RelatedPartiesTransactionsDetailsTable" xlink:href="mgic-20221231.xsd#mgic_RelatedPartiesTransactionsDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_RelatedPartiesTransactionsDetailsTable_lbl" xml:lang="en-US">Related Parties Transactions (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RelatedPartiesTransactionsDetailsTable" xlink:to="mgic_RelatedPartiesTransactionsDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_RelatedPartiesTransactionsDetailsLineItems" xlink:href="mgic-20221231.xsd#mgic_RelatedPartiesTransactionsDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_RelatedPartiesTransactionsDetailsLineItems_lbl" xml:lang="en-US">Related Parties Transactions (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RelatedPartiesTransactionsDetailsLineItems" xlink:to="mgic_RelatedPartiesTransactionsDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedPaymentsDetailsTable" xlink:href="mgic-20221231.xsd#mgic_ShareBasedPaymentsDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareBasedPaymentsDetailsTable_lbl" xml:lang="en-US">Share Based Payments (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedPaymentsDetailsTable" xlink:to="mgic_ShareBasedPaymentsDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ShareBasedPaymentsDetailsLineItems" xlink:href="mgic-20221231.xsd#mgic_ShareBasedPaymentsDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareBasedPaymentsDetailsLineItems_lbl" xml:lang="en-US">Share Based Payments (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedPaymentsDetailsLineItems" xlink:to="mgic_ShareBasedPaymentsDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CommitmentsandContingenciesDetailsTable" xlink:href="mgic-20221231.xsd#mgic_CommitmentsandContingenciesDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CommitmentsandContingenciesDetailsTable_lbl" xml:lang="en-US">Commitments and Contingencies (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CommitmentsandContingenciesDetailsTable" xlink:to="mgic_CommitmentsandContingenciesDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_CommitmentsandContingenciesDetailsLineItems" xlink:href="mgic-20221231.xsd#mgic_CommitmentsandContingenciesDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CommitmentsandContingenciesDetailsLineItems_lbl" xml:lang="en-US">Commitments and Contingencies (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CommitmentsandContingenciesDetailsLineItems" xlink:to="mgic_CommitmentsandContingenciesDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_InterestRateBenchmarksMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_InterestRateBenchmarksMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestRateBenchmarksMember_lbl" xml:lang="en-US">Interest rate benchmarks [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestRateBenchmarksMember" xlink:to="ifrs-full_InterestRateBenchmarksMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_GeographicalAreasMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_GeographicalAreasMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GeographicalAreasMember_lbl" xml:lang="en-US">Geographical areas [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="ifrs-full_GeographicalAreasMember_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityDomain" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityDomain_lbl" xml:lang="en-US">Entity [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityDomain" xlink:to="dei_EntityDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IncomeTaxDetailsTable" xlink:href="mgic-20221231.xsd#mgic_IncomeTaxDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IncomeTaxDetailsTable_lbl" xml:lang="en-US">Income Tax (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncomeTaxDetailsTable" xlink:to="mgic_IncomeTaxDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_IncomeTaxDetailsLineItems" xlink:href="mgic-20221231.xsd#mgic_IncomeTaxDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IncomeTaxDetailsLineItems_lbl" xml:lang="en-US">Income Tax (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncomeTaxDetailsLineItems" xlink:to="mgic_IncomeTaxDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OperatingsegmentsDetailsTable" xlink:href="mgic-20221231.xsd#mgic_OperatingsegmentsDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OperatingsegmentsDetailsTable_lbl" xml:lang="en-US">Operating segments (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OperatingsegmentsDetailsTable" xlink:to="mgic_OperatingsegmentsDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_OperatingsegmentsDetailsLineItems" xlink:href="mgic-20221231.xsd#mgic_OperatingsegmentsDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OperatingsegmentsDetailsLineItems_lbl" xml:lang="en-US">Operating segments (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OperatingsegmentsDetailsLineItems" xlink:to="mgic_OperatingsegmentsDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TransitiontoIFRSDetailsTable" xlink:href="mgic-20221231.xsd#mgic_TransitiontoIFRSDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_TransitiontoIFRSDetailsTable_lbl" xml:lang="en-US">Transition to IFRS (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TransitiontoIFRSDetailsTable" xlink:to="mgic_TransitiontoIFRSDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_TransitiontoIFRSDetailsLineItems" xlink:href="mgic-20221231.xsd#mgic_TransitiontoIFRSDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_TransitiontoIFRSDetailsLineItems_lbl" xml:lang="en-US">Transition to IFRS (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TransitiontoIFRSDetailsLineItems" xlink:to="mgic_TransitiontoIFRSDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SubsequentEventsDetailsTable" xlink:href="mgic-20221231.xsd#mgic_SubsequentEventsDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SubsequentEventsDetailsTable_lbl" xml:lang="en-US">Subsequent Events (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SubsequentEventsDetailsTable" xlink:to="mgic_SubsequentEventsDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_SubsequentEventsDetailsLineItems" xlink:href="mgic-20221231.xsd#mgic_SubsequentEventsDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SubsequentEventsDetailsLineItems_lbl" xml:lang="en-US">Disclosure Of Events After Reporting Period Text Block [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SubsequentEventsDetailsLineItems" xlink:to="mgic_SubsequentEventsDetailsLineItems_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AccumulatedAmortizationAndImpairment_lbl1" xml:lang="en-US">Accumulated amortization and impairment.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedAmortizationAndImpairment" xlink:to="mgic_AccumulatedAmortizationAndImpairment_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AccumulatedDepreciationAtBeginning_lbl1" xml:lang="en-US">The amount of accumulated depreciation at beginning.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedDepreciationAtBeginning" xlink:to="mgic_AccumulatedDepreciationAtBeginning_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AccumulatedTaxExemptEarnings_lbl0" xml:lang="en-US">Amount of accumulated tax exempt earnings.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedTaxExemptEarnings" xlink:to="mgic_AccumulatedTaxExemptEarnings_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AcquiredTechnology_lbl0" xml:lang="en-US">Acquired technology.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquiredTechnology" xlink:to="mgic_AcquiredTechnology_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AcquisitionOfRedeemableNoncontrollingInterests_lbl0" xml:lang="en-US">The amount of acquisition of redeemable non-controlling interests.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquisitionOfRedeemableNoncontrollingInterests" xlink:to="mgic_AcquisitionOfRedeemableNoncontrollingInterests_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AcquisitionOfSubsidiaries_lbl0" xml:lang="en-US">The amount of acquisition of subsidiaries.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquisitionOfSubsidiaries" xlink:to="mgic_AcquisitionOfSubsidiaries_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AcquisitionOfSubsidiariesCosts_lbl0" xml:lang="en-US">Acquisition of subsidiaries.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquisitionOfSubsidiariesCosts" xlink:to="mgic_AcquisitionOfSubsidiariesCosts_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AcquisitionsOfSubsidiaries_lbl0" xml:lang="en-US">Acquisition of subsidiaries.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquisitionsOfSubsidiaries" xlink:to="mgic_AcquisitionsOfSubsidiaries_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations_lbl1" xml:lang="en-US">Adjustments arising from translating financial statements of foreign operations.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations" xlink:to="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization_lbl0" xml:lang="en-US">Adjustments arising from translating financial statements of foreign operations amortization.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization" xlink:to="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AdvancePaymentForFutureAcquisition_lbl0" xml:lang="en-US">Advance payment for future acquisition.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdvancePaymentForFutureAcquisition" xlink:to="mgic_AdvancePaymentForFutureAcquisition_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AggregateAmount_lbl0" xml:lang="en-US">aggregate amount.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AggregateAmount" xlink:to="mgic_AggregateAmount_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AggregateOrdinarySharesAvailableForFutureGrants_lbl0" xml:lang="en-US">Number of aggregate ordinary shares available for future grants.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AggregateOrdinarySharesAvailableForFutureGrants" xlink:to="mgic_AggregateOrdinarySharesAvailableForFutureGrants_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AllowanceAccountForCreditLosses_lbl0" xml:lang="en-US">The amount of an allowance account used to record impairments to financial assets due to credit losses. [Refer: Financial assets]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AllowanceAccountForCreditLosses" xlink:to="mgic_AllowanceAccountForCreditLosses_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AmortizationOfPremiumAndAccruedInterestOnDebtInstrumentsAtFairValueThroughOtherCo_lbl0" xml:lang="en-US">Amortization of premium and accrued interest on debt instruments at fair value.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AmortizationOfPremiumAndAccruedInterestOnDebtInstrumentsAtFairValueThroughOtherCo" xlink:to="mgic_AmortizationOfPremiumAndAccruedInterestOnDebtInstrumentsAtFairValueThroughOtherCo_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AmortizationRecognized_lbl0" xml:lang="en-US">Amortization recognized in the year.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AmortizationRecognized" xlink:to="mgic_AmortizationRecognized_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AnnualCompensationPercentage_lbl0" xml:lang="en-US">Annual compensation percentage.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AnnualCompensationPercentage" xlink:to="mgic_AnnualCompensationPercentage_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_AnnualInstalmentsRepaid_lbl0" xml:lang="en-US">Annual instalments repaid.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AnnualInstalmentsRepaid" xlink:to="mgic_AnnualInstalmentsRepaid_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CapitalizationOfSoftwareDevelopmentOne_lbl0" xml:lang="en-US">Capitalization of software development.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CapitalizationOfSoftwareDevelopmentOne" xlink:to="mgic_CapitalizationOfSoftwareDevelopmentOne_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CapitalizedDevelopmentCosts_lbl0" xml:lang="en-US">Capitalized development costs.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CapitalizedDevelopmentCosts" xlink:to="mgic_CapitalizedDevelopmentCosts_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CapitalizedSoftwareCosts_lbl0" xml:lang="en-US">Capitalized software costs.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CapitalizedSoftwareCosts" xlink:to="mgic_CapitalizedSoftwareCosts_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CapitalizedSoftwareDevelopmentCosts_lbl0" xml:lang="en-US">Capitalized Software development costs.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CapitalizedSoftwareDevelopmentCosts" xlink:to="mgic_CapitalizedSoftwareDevelopmentCosts_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CashAndDepositsForImmediateWithdrawal_lbl0" xml:lang="en-US">Cash and deposits for immediate withdrawal.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashAndDepositsForImmediateWithdrawal" xlink:to="mgic_CashAndDepositsForImmediateWithdrawal_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CashConsiderationAmount_lbl0" xml:lang="en-US">Cash consideration amount.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashConsiderationAmount" xlink:to="mgic_CashConsiderationAmount_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CashEquivalentsInNISdenominatedDeposit_lbl0" xml:lang="en-US">Cash equivalents in NIS-denominated deposit.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashEquivalentsInNISdenominatedDeposit" xlink:to="mgic_CashEquivalentsInNISdenominatedDeposit_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CashPaidDueToExerciseOfPutOptionByNoncontrollingInterests_lbl0" xml:lang="en-US">Cash paid due to exercise of put option by non-controlling interests.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashPaidDueToExerciseOfPutOptionByNoncontrollingInterests" xlink:to="mgic_CashPaidDueToExerciseOfPutOptionByNoncontrollingInterests_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CashPaidInConjunctionWithDeferredPaymentsAndContingentLiabilitiesRelatedToBusinessCo_lbl0" xml:lang="en-US">Cash paid in conjunction with deferred payments and contingent liabilities related to business.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashPaidInConjunctionWithDeferredPaymentsAndContingentLiabilitiesRelatedToBusinessCo" xlink:to="mgic_CashPaidInConjunctionWithDeferredPaymentsAndContingentLiabilitiesRelatedToBusinessCo_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ChangesInValueOfShorttermAndLongtermLoansFromBanksAndOthersAndDepositsNet_lbl0" xml:lang="en-US">Changes in value of short-term and long-term loans from banks and others and deposits, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ChangesInValueOfShorttermAndLongtermLoansFromBanksAndOthersAndDepositsNet" xlink:to="mgic_ChangesInValueOfShorttermAndLongtermLoansFromBanksAndOthersAndDepositsNet_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ClosingPayment_lbl0" xml:lang="en-US">Closing payment.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ClosingPayment" xlink:to="mgic_ClosingPayment_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CommitmentsAndContingencies1_lbl0" xml:lang="en-US">The amount of commitments and contingencies.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CommitmentsAndContingencies1" xlink:to="mgic_CommitmentsAndContingencies1_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CompetitiveDigitalEcosystem_lbl0" xml:lang="en-US">Competitive digital ecosystem.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CompetitiveDigitalEcosystem" xlink:to="mgic_CompetitiveDigitalEcosystem_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CompositionofDeferredTaxesTotal_lbl0" xml:lang="en-US">Total.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CompositionofDeferredTaxesTotal" xlink:to="mgic_CompositionofDeferredTaxesTotal_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CostOfConsultingServices_lbl0" xml:lang="en-US">Cost incurred in providing environmental engineering and consulting; environmental testing and analysis; and remediation services during the reporting period.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostOfConsultingServices" xlink:to="mgic_CostOfConsultingServices_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CostOfMaintenanceAndTechnicalSupport_lbl0" xml:lang="en-US">Maintenance costs incurred and directly related to services rendered by an entity during the reporting period.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostOfMaintenanceAndTechnicalSupport" xlink:to="mgic_CostOfMaintenanceAndTechnicalSupport_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CostOfSoftware_lbl0" xml:lang="en-US">Costs incurred in providing technology services. The services may include training, installation, engineering or consulting. Consulting services often include implementation support, software design or development, or the customization or modification of the licensed software.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostOfSoftware" xlink:to="mgic_CostOfSoftware_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CurrentAssetsRecognisedAsOfAcquisition_lbl0" xml:lang="en-US">The amount recognised as of the acquisition date for current assets acquired in a business combination.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CurrentAssetsRecognisedAsOfAcquisition" xlink:to="mgic_CurrentAssetsRecognisedAsOfAcquisition_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CurrentFederalTaxExpenseBenefi_lbl0" xml:lang="en-US">Amount of domestic.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CurrentFederalTaxExpenseBenefi" xlink:to="mgic_CurrentFederalTaxExpenseBenefi_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CustomerRelationship_lbl0" xml:lang="en-US">Customer relationship.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CustomerRelationship" xlink:to="mgic_CustomerRelationship_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CustomerRelationshipsNetOfDeferredTaxLiabilities_lbl0" xml:lang="en-US">Customer relationships, net of deferred tax liabilities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CustomerRelationshipsNetOfDeferredTaxLiabilities" xlink:to="mgic_CustomerRelationshipsNetOfDeferredTaxLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_CustomerRelationshipsNetOfDeferredTaxLiabilitys_lbl0" xml:lang="en-US">Customer relationships, net of deferred tax liability.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CustomerRelationshipsNetOfDeferredTaxLiabilitys" xlink:to="mgic_CustomerRelationshipsNetOfDeferredTaxLiabilitys_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DebtInstrumentInterestRatesStatedPercentage_lbl1" xml:lang="en-US">Contractual interest rate for funds borrowed, under the debt agreement.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DebtInstrumentInterestRatesStatedPercentage" xlink:to="mgic_DebtInstrumentInterestRatesStatedPercentage_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DeferredAndContingentLiabilitiesAssumedInCurrentYearBusinessCombinations_lbl0" xml:lang="en-US">Deferred and contingent liabilities assumed in current year business combinations.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredAndContingentLiabilitiesAssumedInCurrentYearBusinessCombinations" xlink:to="mgic_DeferredAndContingentLiabilitiesAssumedInCurrentYearBusinessCombinations_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DeferredForeignIncomeTaxExpenseBenefi_lbl0" xml:lang="en-US">Foreign.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredForeignIncomeTaxExpenseBenefi" xlink:to="mgic_DeferredForeignIncomeTaxExpenseBenefi_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DeferredIncomeTaxExpensesBenefit_lbl0" xml:lang="en-US">Total amount.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredIncomeTaxExpensesBenefit" xlink:to="mgic_DeferredIncomeTaxExpensesBenefit_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DeferredRevenues_lbl0" xml:lang="en-US">The amount of deferred revenues.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredRevenues" xlink:to="mgic_DeferredRevenues_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DeferredTaxesAssets_lbl0" xml:lang="en-US">Deferred taxes assets.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredTaxesAssets" xlink:to="mgic_DeferredTaxesAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DeferredTaxesOnLossesForWhichDeferredTaxesWereNotCreated_lbl0" xml:lang="en-US">Deferred taxes on losses for which deferred taxes were not created.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredTaxesOnLossesForWhichDeferredTaxesWereNotCreated" xlink:to="mgic_DeferredTaxesOnLossesForWhichDeferredTaxesWereNotCreated_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DerivativeCurrenciesBought_lbl1" xml:lang="en-US">Derivative currencies bought.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DerivativeCurrenciesBought" xlink:to="mgic_DerivativeCurrenciesBought_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DerivativeFixedInterestRates_lbl0" xml:lang="en-US">THhe percentage of Derivative, Fixed Interest Rate.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DerivativeFixedInterestRates" xlink:to="mgic_DerivativeFixedInterestRates_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DescriptionOfAdvertisingExpensesTextBlock_lbl0" xml:lang="en-US">Description of advertising expenses.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DescriptionOfAdvertisingExpensesTextBlock" xlink:to="mgic_DescriptionOfAdvertisingExpensesTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DescriptionOfConcentrationOfCreditRiskTextBlock_lbl0" xml:lang="en-US">Description of concentration of credit risk.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DescriptionOfConcentrationOfCreditRiskTextBlock" xlink:to="mgic_DescriptionOfConcentrationOfCreditRiskTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DescriptionOfConsolidatedFinancialStatementTextBlock_lbl0" xml:lang="en-US">Description of consolidated financial statement.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DescriptionOfConsolidatedFinancialStatementTextBlock" xlink:to="mgic_DescriptionOfConsolidatedFinancialStatementTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DescriptionOfExercisePriceRange_lbl0" xml:lang="en-US">Description of exercise price range.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DescriptionOfExercisePriceRange" xlink:to="mgic_DescriptionOfExercisePriceRange_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DescriptionOfLeaseExpiring_lbl0" xml:lang="en-US">Original lease periods.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DescriptionOfLeaseExpiring" xlink:to="mgic_DescriptionOfLeaseExpiring_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DescriptionOfReclassificationOfPriorYearsPresentation_lbl0" xml:lang="en-US">Description of reclassification of prior years presentation.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DescriptionOfReclassificationOfPriorYearsPresentation" xlink:to="mgic_DescriptionOfReclassificationOfPriorYearsPresentation_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DescriptionOfShortTermBankDepositsTextBlock_lbl0" xml:lang="en-US">Description of short term bank deposits.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DescriptionOfShortTermBankDepositsTextBlock" xlink:to="mgic_DescriptionOfShortTermBankDepositsTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DescriptionOfUseOfEstimatesJudgmentAndAssumptionTextBlock_lbl0" xml:lang="en-US">Description of use of estimates judgment and assumption.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DescriptionOfUseOfEstimatesJudgmentAndAssumptionTextBlock" xlink:to="mgic_DescriptionOfUseOfEstimatesJudgmentAndAssumptionTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DisclosureOfAOtherAccountsReceivableAndPrepaidExpensesTableTexBlock_lbl0" xml:lang="en-US">The disclosure of a other accounts receivable and prepaid expenses table tex block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfAOtherAccountsReceivableAndPrepaidExpensesTableTexBlock" xlink:to="mgic_DisclosureOfAOtherAccountsReceivableAndPrepaidExpensesTableTexBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DisclosureOfCompositionOfDeferredTaxesTableTextBlock_lbl0" xml:lang="en-US">Disclosure of composition of deferred taxes.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfCompositionOfDeferredTaxesTableTextBlock" xlink:to="mgic_DisclosureOfCompositionOfDeferredTaxesTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock_lbl0" xml:lang="en-US">Disclosure of estimated fair values of the assets acquired and liabilities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock" xlink:to="mgic_DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DisclosureOfIncomeTaxTableTextBlock_lbl0" xml:lang="en-US">Disclosure of income tax.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfIncomeTaxTableTextBlock" xlink:to="mgic_DisclosureOfIncomeTaxTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DisclosureOfShortTermDebtsExplanatoryTextBlock_lbl0" xml:lang="en-US">Disclosure of short term debts explanatory.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfShortTermDebtsExplanatoryTextBlock" xlink:to="mgic_DisclosureOfShortTermDebtsExplanatoryTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DisclosureOfTheoreticalTaxExpenseTableTextBlock_lbl0" xml:lang="en-US">Disclosure of theoretical tax expense.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfTheoreticalTaxExpenseTableTextBlock" xlink:to="mgic_DisclosureOfTheoreticalTaxExpenseTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DividendToMagicsShareholders_lbl0" xml:lang="en-US">The amount of dividend to magic&#8217;s shareholders.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DividendToMagicsShareholders" xlink:to="mgic_DividendToMagicsShareholders_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DividendToMagicsShareholders1_lbl0" xml:lang="en-US">The amount of dividend to Magic&#8217;s shareholders.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DividendToMagicsShareholders1" xlink:to="mgic_DividendToMagicsShareholders1_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_DividendToNoncontrollingInterestsInSubsidiaries_lbl0" xml:lang="en-US">The amount of dividend to non-controlling interests in subsidiaries.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DividendToNoncontrollingInterestsInSubsidiaries" xlink:to="mgic_DividendToNoncontrollingInterestsInSubsidiaries_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_EffectOfDilutiveSecurities_lbl0" xml:lang="en-US">Number of shares effect of dilutive securities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EffectOfDilutiveSecurities" xlink:to="mgic_EffectOfDilutiveSecurities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_EffectOfExchangeRateOnOfCashAndCashEquivalentsHeldInCurrenciesOtherThanTheFunctio_lbl0" xml:lang="en-US">Effect of exchange rate on of cash and cash equivalents held in currencies other than the functional currency.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EffectOfExchangeRateOnOfCashAndCashEquivalentsHeldInCurrenciesOtherThanTheFunctio" xlink:to="mgic_EffectOfExchangeRateOnOfCashAndCashEquivalentsHeldInCurrenciesOtherThanTheFunctio_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_EmployeeContributionsPercentage_lbl0" xml:lang="en-US">Employee contributions percentage.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EmployeeContributionsPercentage" xlink:to="mgic_EmployeeContributionsPercentage_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_EqualInstallments_lbl0" xml:lang="en-US">Equal installments amount.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EqualInstallments" xlink:to="mgic_EqualInstallments_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_EstimatedFutureAmortizationExpenses_lbl0" xml:lang="en-US">Estimated future amortization expenses.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EstimatedFutureAmortizationExpenses" xlink:to="mgic_EstimatedFutureAmortizationExpenses_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_EstimatedFutureAmortizationExpensesFiveAndThereafter_lbl0" xml:lang="en-US">Estimated future amortization expenses five and thereafter.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EstimatedFutureAmortizationExpensesFiveAndThereafter" xlink:to="mgic_EstimatedFutureAmortizationExpensesFiveAndThereafter_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_EstimatedFutureAmortizationExpensesFour_lbl0" xml:lang="en-US">Estimated future amortization expenses four.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EstimatedFutureAmortizationExpensesFour" xlink:to="mgic_EstimatedFutureAmortizationExpensesFour_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_EstimatedFutureAmortizationExpensesOne_lbl0" xml:lang="en-US">Estimated future amortization expense one.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EstimatedFutureAmortizationExpensesOne" xlink:to="mgic_EstimatedFutureAmortizationExpensesOne_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_EstimatedFutureAmortizationExpensesThree_lbl0" xml:lang="en-US">Estimated future amortization expenses three.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EstimatedFutureAmortizationExpensesThree" xlink:to="mgic_EstimatedFutureAmortizationExpensesThree_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_EstimatedFutureAmortizationExpensesTwo_lbl0" xml:lang="en-US">Estimated future amortization expenses two.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EstimatedFutureAmortizationExpensesTwo" xlink:to="mgic_EstimatedFutureAmortizationExpensesTwo_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_EstimatedUsefulLifeOfAsset_lbl0" xml:lang="en-US">Estimated useful life of assets.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EstimatedUsefulLifeOfAsset" xlink:to="mgic_EstimatedUsefulLifeOfAsset_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_EstimatedUsefulLives_lbl0" xml:lang="en-US">Estimated useful lives.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EstimatedUsefulLives" xlink:to="mgic_EstimatedUsefulLives_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ExerciseOfOptions_lbl0" xml:lang="en-US">The amount of exercise of options.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ExerciseOfOptions" xlink:to="mgic_ExerciseOfOptions_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ExerciseOptionVestLife_lbl0" xml:lang="en-US">Option vest life of outstanding share options.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ExerciseOptionVestLife" xlink:to="mgic_ExerciseOptionVestLife_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_FairValueOfOptionAtTheGrantDate_lbl0" xml:lang="en-US">Fair value of option at the grant date.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FairValueOfOptionAtTheGrantDate" xlink:to="mgic_FairValueOfOptionAtTheGrantDate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_FairValueofAssetsAcquiredandLiabilitiesNoncontrollingInterests_lbl0" xml:lang="en-US">Non-controlling interests.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FairValueofAssetsAcquiredandLiabilitiesNoncontrollingInterests" xlink:to="mgic_FairValueofAssetsAcquiredandLiabilitiesNoncontrollingInterests_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_FifthYearAndThereafter_lbl0" xml:lang="en-US">Fifth year and thereafter.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FifthYearAndThereafter" xlink:to="mgic_FifthYearAndThereafter_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_FinancialDebtsNotExceedPercentage_lbl0" xml:lang="en-US">The percentage of financial debts not exceed.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FinancialDebtsNotExceedPercentage" xlink:to="mgic_FinancialDebtsNotExceedPercentage_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_FinancialExpensesRelatedToLiabilitiesInRespectOfBusinessCombinations_lbl0" xml:lang="en-US">Financial expenses related to liabilities in respect of business combinations.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FinancialExpensesRelatedToLiabilitiesInRespectOfBusinessCombinations" xlink:to="mgic_FinancialExpensesRelatedToLiabilitiesInRespectOfBusinessCombinations_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_FirstYearCurrentMaturities_lbl0" xml:lang="en-US">First year (Current maturities).</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FirstYearCurrentMaturities" xlink:to="mgic_FirstYearCurrentMaturities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ForeignTaxExpenseBenefit_lbl0" xml:lang="en-US">Amount of foreign.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ForeignTaxExpenseBenefit" xlink:to="mgic_ForeignTaxExpenseBenefit_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_FourthYear_lbl0" xml:lang="en-US">Fourth year.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FourthYear" xlink:to="mgic_FourthYear_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_GoodwillandOtherIntangibleAssetCost_lbl1" xml:lang="en-US">Goodwill and other intangible assets.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_GoodwillandOtherIntangibleAssetCost" xlink:to="mgic_GoodwillandOtherIntangibleAssetCost_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_IncomeBeforeIncomeTaxesAsPerTheStatementOfOperations_lbl0" xml:lang="en-US">Income before income taxes, as per the statement of operations.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncomeBeforeIncomeTaxesAsPerTheStatementOfOperations" xlink:to="mgic_IncomeBeforeIncomeTaxesAsPerTheStatementOfOperations_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_IncomeTaxExpensesBenefit_lbl0" xml:lang="en-US">Total.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncomeTaxExpensesBenefit" xlink:to="mgic_IncomeTaxExpensesBenefit_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_IncreaseDecreaseTradeReceivables_lbl0" xml:lang="en-US">Trade receivables.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncreaseDecreaseTradeReceivables" xlink:to="mgic_IncreaseDecreaseTradeReceivables_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions_lbl1" xml:lang="en-US">Increase in valuation of consideration related to acquisitions.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions" xlink:to="mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_IntangibleAssets_lbl0" xml:lang="en-US">Intangible Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssets" xlink:to="mgic_IntangibleAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities_lbl2" xml:lang="en-US">Intangible assets, net of deferred tax liabilities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities" xlink:to="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_IntangibleAssetsNetOfDeferredTaxes_lbl0" xml:lang="en-US">Intangible assets, net of deferred taxes.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssetsNetOfDeferredTaxes" xlink:to="mgic_IntangibleAssetsNetOfDeferredTaxes_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_IntangiblesFixedAssetLeaseLiabilitiesAndRightOfUseAssets_lbl0" xml:lang="en-US">Intangibles, fixed asset, lease liabilities and right of use assets.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangiblesFixedAssetLeaseLiabilitiesAndRightOfUseAssets" xlink:to="mgic_IntangiblesFixedAssetLeaseLiabilitiesAndRightOfUseAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_InterestRate_lbl0" xml:lang="en-US">Interest rate.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_InterestRate" xlink:to="mgic_InterestRate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_LeaseAmount_lbl0" xml:lang="en-US">Amount of lease cost recognized by lessee for lease contract.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeaseAmount" xlink:to="mgic_LeaseAmount_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_LeaseOptionToTerminate_lbl0" xml:lang="en-US">Description of terms and conditions of option to terminate lessee&apos;s operating lease. Includes, but is not limited to, information about option recognized as part of right-of-use asset and lease liability.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeaseOptionToTerminate" xlink:to="mgic_LeaseOptionToTerminate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_LeasePercentage_lbl0" xml:lang="en-US">Lease percentage.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasePercentage" xlink:to="mgic_LeasePercentage_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_LiabilityInRespectOfBusinessCombination_lbl0" xml:lang="en-US">Liability in respect of business combination.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LiabilityInRespectOfBusinessCombination" xlink:to="mgic_LiabilityInRespectOfBusinessCombination_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_LiabilityInRespectOfBusinessCombinationsCurrent_lbl1" xml:lang="en-US">The amount of liability in respect of business combinations current.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LiabilityInRespectOfBusinessCombinationsCurrent" xlink:to="mgic_LiabilityInRespectOfBusinessCombinationsCurrent_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent_lbl0" xml:lang="en-US">The amount of liability in respect of business combinations noncurrent.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent" xlink:to="mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_LoanAgreementDescription_lbl0" xml:lang="en-US">loan agreement description.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LoanAgreementDescription" xlink:to="mgic_LoanAgreementDescription_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_LoanObtained_lbl0" xml:lang="en-US">The amount of loan obtained.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LoanObtained" xlink:to="mgic_LoanObtained_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_LongTermDebtMaturitiesYear_lbl0" xml:lang="en-US">Total.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LongTermDebtMaturitiesYear" xlink:to="mgic_LongTermDebtMaturitiesYear_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_LonglivedAssets_lbl0" xml:lang="en-US">Long-lived assets other than financial instruments, long-term customer relationships of a financial institution, mortgage and other servicing rights, deferred policy acquisition costs, and deferred tax assets.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LonglivedAssets" xlink:to="mgic_LonglivedAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_LossContingencyDamagesSoughtValues_lbl0" xml:lang="en-US">The value (monetary amount) of the award the plaintiff seeks in the legal matter.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LossContingencyDamagesSoughtValues" xlink:to="mgic_LossContingencyDamagesSoughtValues_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_MeasurementAdjustmentsRelatedToLeases_lbl0" xml:lang="en-US">The amount of measurement adjustments related to leases.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_MeasurementAdjustmentsRelatedToLeases" xlink:to="mgic_MeasurementAdjustmentsRelatedToLeases_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_NetAssetsExcludingAcquiredCash_lbl0" xml:lang="en-US">Net assets, excluding acquired cash.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetAssetsExcludingAcquiredCash" xlink:to="mgic_NetAssetsExcludingAcquiredCash_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_NetAssetsExcludingOfCashAcquired_lbl0" xml:lang="en-US">Net assets excluding of cash acquired.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetAssetsExcludingOfCashAcquired" xlink:to="mgic_NetAssetsExcludingOfCashAcquired_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_NetIncomeAttributableToMagicShareholdersinDollarsPerShare_lbl0" xml:lang="en-US">Net income attributable to magic shareholders.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetIncomeAttributableToMagicShareholdersinDollarsPerShare" xlink:to="mgic_NetIncomeAttributableToMagicShareholdersinDollarsPerShare_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_NetLiabilitiesExcludeOfCashAcquired_lbl0" xml:lang="en-US">Net liabilities, excluding of cash acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetLiabilitiesExcludeOfCashAcquired" xlink:to="mgic_NetLiabilitiesExcludeOfCashAcquired_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_NetLiabilitiesExcludingCashAcquired_lbl0" xml:lang="en-US">Net liabilities excluding of cash acquired.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetLiabilitiesExcludingCashAcquired" xlink:to="mgic_NetLiabilitiesExcludingCashAcquired_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_NetLiabilitiesExcludingOfCashAcquired_lbl0" xml:lang="en-US">Net liabilities excluding of cash acquired.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetLiabilitiesExcludingOfCashAcquired" xlink:to="mgic_NetLiabilitiesExcludingOfCashAcquired_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_NetOperatingLossesCarriedForward_lbl0" xml:lang="en-US">Net operating losses carried forward.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetOperatingLossesCarriedForward" xlink:to="mgic_NetOperatingLossesCarriedForward_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_NondeductibleExpensesAndTaxExpensesInRespectOfPriorYearsNet_lbl0" xml:lang="en-US">Non-deductible expenses and tax expenses in respect of prior years, net.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NondeductibleExpensesAndTaxExpensesInRespectOfPriorYearsNet" xlink:to="mgic_NondeductibleExpensesAndTaxExpensesInRespectOfPriorYearsNet_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_OperatingLeasesFutureMinimumPaymentDue_lbl0" xml:lang="en-US">Amount of operating leases future minimum payment due.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OperatingLeasesFutureMinimumPaymentDue" xlink:to="mgic_OperatingLeasesFutureMinimumPaymentDue_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_OperatingLossCarryforwardsAmount_lbl0" xml:lang="en-US">Operating loss carryforwards amount.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OperatingLossCarryforwardsAmount" xlink:to="mgic_OperatingLossCarryforwardsAmount_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_OptionGrantExercisableContractualLifeOfOutstandingShareOption_lbl0" xml:lang="en-US">The weighted average remaining contractual life of outstanding share options. [Refer: Weighted average [member]]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OptionGrantExercisableContractualLifeOfOutstandingShareOption" xlink:to="mgic_OptionGrantExercisableContractualLifeOfOutstandingShareOption_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_OrdinarySharesParValue_lbl0" xml:lang="en-US">The value of ordinary shares, par value.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OrdinarySharesParValue" xlink:to="mgic_OrdinarySharesParValue_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_OrdinarySharesSharesAuthorized_lbl0" xml:lang="en-US">The amount of ordinary shares, shares authorized.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OrdinarySharesSharesAuthorized" xlink:to="mgic_OrdinarySharesSharesAuthorized_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_OrdinarySharesSharesIssued_lbl0" xml:lang="en-US">The amount of ordinary shares issued.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OrdinarySharesSharesIssued" xlink:to="mgic_OrdinarySharesSharesIssued_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_OrdinarySharesSharesOutstanding_lbl0" xml:lang="en-US">The amount of ordinary shares outstanding.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OrdinarySharesSharesOutstanding" xlink:to="mgic_OrdinarySharesSharesOutstanding_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_OtherCurrentAndLongtermAccountsReceivable_lbl0" xml:lang="en-US">Other current and long-term accounts receivable.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OtherCurrentAndLongtermAccountsReceivable" xlink:to="mgic_OtherCurrentAndLongtermAccountsReceivable_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_OutstandingSharePercentage_lbl0" xml:lang="en-US">Outstanding share percentage.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OutstandingSharePercentage" xlink:to="mgic_OutstandingSharePercentage_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_PaidInCash_lbl0" xml:lang="en-US">Paid in cash.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PaidInCash" xlink:to="mgic_PaidInCash_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_PaymentsForBusinessAcquisitionsNetOfCashAcquiredAppendixA_lbl0" xml:lang="en-US">Payments for business acquisitions, net of cash acquired.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PaymentsForBusinessAcquisitionsNetOfCashAcquiredAppendixA" xlink:to="mgic_PaymentsForBusinessAcquisitionsNetOfCashAcquiredAppendixA_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_PaymentsOfDeferredAndContingentConsiderationRelatedToAcquisitions_lbl0" xml:lang="en-US">Payments of deferred and contingent consideration related to acquisitions.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PaymentsOfDeferredAndContingentConsiderationRelatedToAcquisitions" xlink:to="mgic_PaymentsOfDeferredAndContingentConsiderationRelatedToAcquisitions_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_PercentageOfPerformanceObligations_lbl0" xml:lang="en-US">Percentage of performance obligations.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PercentageOfPerformanceObligations" xlink:to="mgic_PercentageOfPerformanceObligations_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ProductsAndServicesTransferredOverTime_lbl0" xml:lang="en-US">Amount of products and services transferred over time.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ProductsAndServicesTransferredOverTime" xlink:to="mgic_ProductsAndServicesTransferredOverTime_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ProductsTransferredAtAPointInTime_lbl0" xml:lang="en-US">The amount of products transferred at a point in time.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ProductsTransferredAtAPointInTime" xlink:to="mgic_ProductsTransferredAtAPointInTime_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_PurchaseOfOptionShares_lbl0" xml:lang="en-US">Purchase of option shares.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PurchaseOfOptionShares" xlink:to="mgic_PurchaseOfOptionShares_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_PurchaseOfShares_lbl0" xml:lang="en-US">Purchase of shares.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PurchaseOfShares" xlink:to="mgic_PurchaseOfShares_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_PurchaseOfSharesHoldingPercentage_lbl0" xml:lang="en-US">Purchase of shares holding percentage.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PurchaseOfSharesHoldingPercentage" xlink:to="mgic_PurchaseOfSharesHoldingPercentage_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_PutOptionsOfNoncontrollingInterests_lbl0" xml:lang="en-US">The amount of non-controlling interests.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PutOptionsOfNoncontrollingInterests" xlink:to="mgic_PutOptionsOfNoncontrollingInterests_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_PutOptionsOfNoncontrollingInterestsCurrent_lbl1" xml:lang="en-US">Put options of non-controlling interests.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PutOptionsOfNoncontrollingInterestsCurrent" xlink:to="mgic_PutOptionsOfNoncontrollingInterestsCurrent_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_PutOptionsOfNoncontrollingInterestsNoncurrent_lbl1" xml:lang="en-US">The amount of put options of non-controlling interests noncurrent.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PutOptionsOfNoncontrollingInterestsNoncurrent" xlink:to="mgic_PutOptionsOfNoncontrollingInterestsNoncurrent_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_PutOptionsOfNoncontrollingInterestsliabilities_lbl0" xml:lang="en-US">The amount of put options of non-controlling interests liabilities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PutOptionsOfNoncontrollingInterestsliabilities" xlink:to="mgic_PutOptionsOfNoncontrollingInterestsliabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_RedeemableNonControllingInterest_lbl0" xml:lang="en-US">The amount of equity in a subsidiary redeemable not attributable, directly or indirectly, to a parent.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RedeemableNonControllingInterest" xlink:to="mgic_RedeemableNonControllingInterest_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_RedeemableNoncontrollingInterest_lbl0" xml:lang="en-US">Redeemable non-controlling interest.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RedeemableNoncontrollingInterest" xlink:to="mgic_RedeemableNoncontrollingInterest_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_RedeemableNoncontrollingInterests_lbl0" xml:lang="en-US">Redeemable non-controlling interests.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RedeemableNoncontrollingInterests" xlink:to="mgic_RedeemableNoncontrollingInterests_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_RemainingOptionInterestPecentage_lbl0" xml:lang="en-US">The percentage of remaining option interest.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RemainingOptionInterestPecentage" xlink:to="mgic_RemainingOptionInterestPecentage_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_RepaymentOfLongtermLoansFromBanksAndOthers_lbl0" xml:lang="en-US">Repayment of long-term loans from banks and others.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RepaymentOfLongtermLoansFromBanksAndOthers" xlink:to="mgic_RepaymentOfLongtermLoansFromBanksAndOthers_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ResearchAndDevelopmentCostsNetTableTextBlock_lbl0" xml:lang="en-US">The entire disclosure for research and development costs, net.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ResearchAndDevelopmentCostsNetTableTextBlock" xlink:to="mgic_ResearchAndDevelopmentCostsNetTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ReservesAndAllowances_lbl0" xml:lang="en-US">Reserves and allowances.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ReservesAndAllowances" xlink:to="mgic_ReservesAndAllowances_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_RightUseOfAsset_lbl0" xml:lang="en-US">Right use of asset.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RightUseOfAsset" xlink:to="mgic_RightUseOfAsset_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ScheduleOfAnnualRatesOfDepreciationTextBlock_lbl0" xml:lang="en-US">Schedule of annual rates of depreciation.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfAnnualRatesOfDepreciationTextBlock" xlink:to="mgic_ScheduleOfAnnualRatesOfDepreciationTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ScheduleOfLeaseInformationExplanatory_lbl0" xml:lang="en-US">The Tabular information on Leases.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfLeaseInformationExplanatory" xlink:to="mgic_ScheduleOfLeaseInformationExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ScheduleOfShortTermDebtsExplanatory_lbl0" xml:lang="en-US">Schedule of short term debt explanatory.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfShortTermDebtsExplanatory" xlink:to="mgic_ScheduleOfShortTermDebtsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_SecondYear_lbl0" xml:lang="en-US">Second year.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SecondYear" xlink:to="mgic_SecondYear_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_SettlementOfPutOptionsOverNoncontrollingInterest_lbl0" xml:lang="en-US">The amount of settlement of put options over non-controlling interest.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SettlementOfPutOptionsOverNoncontrollingInterest" xlink:to="mgic_SettlementOfPutOptionsOverNoncontrollingInterest_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_SeveranceExpenses_lbl0" xml:lang="en-US">Severance expenses.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SeveranceExpenses" xlink:to="mgic_SeveranceExpenses_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_SeverancePayFund_lbl0" xml:lang="en-US">The carrying value of deposited severance pay fund as of balance sheet date.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SeverancePayFund" xlink:to="mgic_SeverancePayFund_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ShareBasedCompensationAggregateIntrinsicValueExercisable_lbl0" xml:lang="en-US">Amount of share based compensation aggregate intrinsic value exercisable.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedCompensationAggregateIntrinsicValueExercisable" xlink:to="mgic_ShareBasedCompensationAggregateIntrinsicValueExercisable_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding_lbl1" xml:lang="en-US">Amount of share based compensation aggregate intrinsic value outstanding.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding" xlink:to="mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_SharesPercentage_lbl0" xml:lang="en-US">Percentage of shares.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SharesPercentage" xlink:to="mgic_SharesPercentage_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_StatutoryTaxRatePercentage_lbl0" xml:lang="en-US">The percentage of statutory tax rate.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_StatutoryTaxRatePercentage" xlink:to="mgic_StatutoryTaxRatePercentage_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_Subcontractors_lbl0" xml:lang="en-US">The amount of subcontractors.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_Subcontractors" xlink:to="mgic_Subcontractors_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_TaxComputedAtTheStatutoryTaxRate_lbl0" xml:lang="en-US">Tax computed at the statutory tax rate.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TaxComputedAtTheStatutoryTaxRate" xlink:to="mgic_TaxComputedAtTheStatutoryTaxRate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_TaxExpenses_lbl0" xml:lang="en-US">Tax expenses.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TaxExpenses" xlink:to="mgic_TaxExpenses_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_TaxLossCarryforwards_lbl0" xml:lang="en-US">Tax loss carryforwards.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TaxLossCarryforwards" xlink:to="mgic_TaxLossCarryforwards_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_TaxableIncomePercentage_lbl0" xml:lang="en-US">Taxable income percentage.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TaxableIncomePercentage" xlink:to="mgic_TaxableIncomePercentage_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_TaxesOnIncome_lbl0" xml:lang="en-US">Amount of taxes on income.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TaxesOnIncome" xlink:to="mgic_TaxesOnIncome_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_TerminalValueGrowthRate_lbl0" xml:lang="en-US">Percentage of growth rate.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TerminalValueGrowthRate" xlink:to="mgic_TerminalValueGrowthRate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_ThirdYearinShares_lbl0" xml:lang="en-US">Third year (in Shares).</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_Total_lbl0" xml:lang="en-US">Total.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_Total" xlink:to="mgic_Total_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_TotalAssetsAcquired_lbl0" xml:lang="en-US">Total assets acquired.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalAssetsAcquired" xlink:to="mgic_TotalAssetsAcquired_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_TotalIntrinsicValueOfOptionsExercised_lbl0" xml:lang="en-US">Amount of total intrinsic value of options exercised.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalIntrinsicValueOfOptionsExercised" xlink:to="mgic_TotalIntrinsicValueOfOptionsExercised_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_TotalLongTermBorrowings_lbl0" xml:lang="en-US">Reflects the total carrying amount as of the balance sheet date of debt having initial terms less than one year or the normal operating cycle, if longer.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalLongTermBorrowings" xlink:to="mgic_TotalLongTermBorrowings_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_TotalShortTermBorrowings_lbl0" xml:lang="en-US">Reflects the total carrying amount as of the balance sheet date of debt having initial terms less than one year or the normal operating cycle, if longer.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalShortTermBorrowings" xlink:to="mgic_TotalShortTermBorrowings_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_TradeReceivablesNetOfAllowance_lbl0" xml:lang="en-US">The amount of trade receivables, net of allowance.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_TransitionToIFRS_lbl0" xml:lang="en-US">The amount of transition to IFRS.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TransitionToIFRS" xlink:to="mgic_TransitionToIFRS_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_UncertainTaxPositionsAndOther_lbl0" xml:lang="en-US">Uncertain tax positions and other.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UncertainTaxPositionsAndOther" xlink:to="mgic_UncertainTaxPositionsAndOther_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_UnrecognizedCompensationCostRelatedToNonVestedOptions_lbl0" xml:lang="en-US">Amount of unrecognized compensation cost related to non-vested options.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnrecognizedCompensationCostRelatedToNonVestedOptions" xlink:to="mgic_UnrecognizedCompensationCostRelatedToNonVestedOptions_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_WeightedAverageCostOfCapitals_lbl0" xml:lang="en-US">Percentage of weighted average cost of capital.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageCostOfCapitals" xlink:to="mgic_WeightedAverageCostOfCapitals_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice_lbl0" xml:lang="en-US">The weighted average exercise price of other equity instruments (ie other than share options) exercisable in a share-based payment arrangement. [Refer: Weighted average [member]]&#xd;
 References</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice" xlink:to="mgic_WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_WeightedAverageExpectedExerciseFactor_lbl0" xml:lang="en-US">The weighted average expected exercise factor.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageExpectedExerciseFactor" xlink:to="mgic_WeightedAverageExpectedExerciseFactor_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_WeightedAverageRemainingContractualLifeExercisePrice_lbl0" xml:lang="en-US">The weighted average remaining contractual life of outstanding share options. [Refer: Weighted average [member]]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageRemainingContractualLifeExercisePrice" xlink:to="mgic_WeightedAverageRemainingContractualLifeExercisePrice_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_WeightedAverageRemainingContractualLifeOfOutstandingShareOption_lbl0" xml:lang="en-US">The weighted average remaining contractual life of outstanding share options. [Refer: Weighted average [member]]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageRemainingContractualLifeOfOutstandingShareOption" xlink:to="mgic_WeightedAverageRemainingContractualLifeOfOutstandingShareOption_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_WeightedAverageRemainingContractualTermExercisable_lbl0" xml:lang="en-US">The weighted average remaining contractual life of outstanding share options. [Refer: Weighted average [member]]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageRemainingContractualTermExercisable" xlink:to="mgic_WeightedAverageRemainingContractualTermExercisable_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_WeightedAverageRemainingContractualTermOutstandingBeginning_lbl0" xml:lang="en-US">The weighted average remaining contractual life of outstanding share options. [Refer: Weighted average [member]]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageRemainingContractualTermOutstandingBeginning" xlink:to="mgic_WeightedAverageRemainingContractualTermOutstandingBeginning_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mgic_WeightedAverageRemainingContractualTermOutstandingEnding_lbl0" xml:lang="en-US">The weighted average remaining contractual life of outstanding share options. [Refer: Weighted average [member]]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageRemainingContractualTermOutstandingEnding" xlink:to="mgic_WeightedAverageRemainingContractualTermOutstandingEnding_lbl0"/>
    <loc xlink:type="locator" xlink:label="dei_AddressTypeDomain" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_AddressTypeDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AddressTypeDomain_lbl" xml:lang="en-US">Address Type [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AddressTypeDomain" xlink:to="dei_AddressTypeDomain_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LoanAgreementDescription_lbl1" xml:lang="en-US">Loan Agreement Description</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LoanAgreementDescription" xlink:to="mgic_LoanAgreementDescription_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_PurchaseOfSharesPercentage_lbl0" xml:lang="en-US">Purchase Of Shares Percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PurchaseOfSharesPercentage" xlink:to="mgic_PurchaseOfSharesPercentage_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract103_lbl0" xml:lang="en-US">Unlabeled Abstract103</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract103" xlink:to="mgic_UnlabeledAbstract103_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract102_lbl0" xml:lang="en-US">Unlabeled Abstract102</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract102" xlink:to="mgic_UnlabeledAbstract102_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract101_lbl0" xml:lang="en-US">Unlabeled Abstract101</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract101" xlink:to="mgic_UnlabeledAbstract101_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract100_lbl0" xml:lang="en-US">Unlabeled Abstract100</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract100" xlink:to="mgic_UnlabeledAbstract100_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract107_lbl0" xml:lang="en-US">Unlabeled Abstract107</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract107" xlink:to="mgic_UnlabeledAbstract107_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DeferredRevenues_lbl1" xml:lang="en-US">Deferred Revenues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredRevenues" xlink:to="mgic_DeferredRevenues_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract106_lbl0" xml:lang="en-US">Unlabeled Abstract106</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract106" xlink:to="mgic_UnlabeledAbstract106_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract105_lbl0" xml:lang="en-US">Unlabeled Abstract105</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract105" xlink:to="mgic_UnlabeledAbstract105_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract104_lbl0" xml:lang="en-US">Unlabeled Abstract104</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract104" xlink:to="mgic_UnlabeledAbstract104_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ExerciseOptionVestLife_lbl1" xml:lang="en-US">Exercise Option Vest Life</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ExerciseOptionVestLife" xlink:to="mgic_ExerciseOptionVestLife_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract109_lbl0" xml:lang="en-US">Unlabeled Abstract109</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract109" xlink:to="mgic_UnlabeledAbstract109_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_EstimatedFutureAmortizationExpensesFour_lbl1" xml:lang="en-US">Estimated Future Amortization Expenses Four</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EstimatedFutureAmortizationExpensesFour" xlink:to="mgic_EstimatedFutureAmortizationExpensesFour_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract108_lbl0" xml:lang="en-US">Unlabeled Abstract108</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract108" xlink:to="mgic_UnlabeledAbstract108_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SeveranceExpenses_lbl1" xml:lang="en-US">Severance Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SeveranceExpenses" xlink:to="mgic_SeveranceExpenses_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestExpenseOnBorrowings_lbl0" xml:lang="en-US">Interest expense on borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestExpenseOnBorrowings" xlink:to="ifrs-full_InterestExpenseOnBorrowings_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RestrictedCashAndCashEquivalents_lbl0" xml:lang="en-US">Restricted cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RestrictedCashAndCashEquivalents" xlink:to="ifrs-full_RestrictedCashAndCashEquivalents_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_FairValueOfOptionAtTheGrantDate_lbl1" xml:lang="en-US">Fair Value Of Option At The Grant Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FairValueOfOptionAtTheGrantDate" xlink:to="mgic_FairValueOfOptionAtTheGrantDate_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract110_lbl0" xml:lang="en-US">Unlabeled Abstract110</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract110" xlink:to="mgic_UnlabeledAbstract110_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DividendDistributed_lbl0" xml:lang="en-US">Dividend Distributed</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DividendDistributed" xlink:to="mgic_DividendDistributed_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl0" xml:lang="en-US">Entity Well-known Seasoned Issuer</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="dei_EntityWellKnownSeasonedIssuer_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AuditorName_lbl0" xml:lang="en-US">Auditor Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditorName" xlink:to="dei_AuditorName_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract114_lbl0" xml:lang="en-US">Unlabeled Abstract114</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract114" xlink:to="mgic_UnlabeledAbstract114_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract113_lbl0" xml:lang="en-US">Unlabeled Abstract113</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract113" xlink:to="mgic_UnlabeledAbstract113_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentLiabilitiesAbstract_lbl0" xml:lang="en-US">Current liabilities [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLiabilitiesAbstract" xlink:to="ifrs-full_CurrentLiabilitiesAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract112_lbl0" xml:lang="en-US">Unlabeled Abstract112</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract112" xlink:to="mgic_UnlabeledAbstract112_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract111_lbl0" xml:lang="en-US">Unlabeled Abstract111</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract111" xlink:to="mgic_UnlabeledAbstract111_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract118_lbl0" xml:lang="en-US">Unlabeled Abstract118</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract118" xlink:to="mgic_UnlabeledAbstract118_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract117_lbl0" xml:lang="en-US">Unlabeled Abstract117</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract117" xlink:to="mgic_UnlabeledAbstract117_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract116_lbl0" xml:lang="en-US">Unlabeled Abstract116</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract116" xlink:to="mgic_UnlabeledAbstract116_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract115_lbl0" xml:lang="en-US">Unlabeled Abstract115</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract115" xlink:to="mgic_UnlabeledAbstract115_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract119_lbl0" xml:lang="en-US">Unlabeled Abstract119</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract119" xlink:to="mgic_UnlabeledAbstract119_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AccumulatedDepreciationAtBeginning_lbl2" xml:lang="en-US">Accumulated Depreciation At Beginning</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedDepreciationAtBeginning" xlink:to="mgic_AccumulatedDepreciationAtBeginning_lbl2"/>
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    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfDeferredRevenuesFromContractsWithCustomersAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfDeferredRevenuesFromContractsWithCustomersAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract123_lbl0" xml:lang="en-US">Unlabeled Abstract123</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract129_lbl0" xml:lang="en-US">Unlabeled Abstract129</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract128_lbl0" xml:lang="en-US">Unlabeled Abstract128</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract128" xlink:to="mgic_UnlabeledAbstract128_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract127_lbl0" xml:lang="en-US">Unlabeled Abstract127</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract127" xlink:to="mgic_UnlabeledAbstract127_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract126_lbl0" xml:lang="en-US">Unlabeled Abstract126</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract126" xlink:to="mgic_UnlabeledAbstract126_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfPropertyPlantAndEquipmentTextBlockAbstract" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfPropertyPlantAndEquipmentTextBlockAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisclosureOfPropertyPlantAndEquipmentTextBlockAbstract_lbl" xml:lang="en-US">Disclosure Of Property Plant And Equipment Text Block Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfPropertyPlantAndEquipmentTextBlockAbstract" xlink:to="mgic_DisclosureOfPropertyPlantAndEquipmentTextBlockAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables_lbl1" xml:lang="en-US">Trade and other current receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentReceivables" xlink:to="ifrs-full_TradeAndOtherCurrentReceivables_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_a2022Abstract_lbl0" xml:lang="en-US">a2022 Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_NetEarningsPerShareAttributableToCompanyShareholdersAbstract_lbl0" xml:lang="en-US">Net Earnings Per Share Attributable To Company Shareholders Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetEarningsPerShareAttributableToCompanyShareholdersAbstract" xlink:to="mgic_NetEarningsPerShareAttributableToCompanyShareholdersAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfAccumulatedOtherComprehensiveIncomeLossExplanatory_lbl0" xml:lang="en-US">Schedule Of Accumulated Other Comprehensive Income Loss Explanatory</label>
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    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfOptionsOutstandingAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfOptionsOutstandingAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfOptionsOutstandingAbstract_lbl" xml:lang="en-US">Schedule Of Options Outstanding Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfOptionsOutstandingAbstract" xlink:to="mgic_ScheduleOfOptionsOutstandingAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract132_lbl0" xml:lang="en-US">Unlabeled Abstract132</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract131_lbl0" xml:lang="en-US">Unlabeled Abstract131</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract130_lbl0" xml:lang="en-US">Unlabeled Abstract130</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl0" xml:lang="en-US">Cash flows from (used in) operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019_lbl0" xml:lang="en-US">Weighted average remaining contractual life of outstanding share options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" xlink:to="ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019_lbl0"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_TerminationOfLeases_lbl0" xml:lang="en-US">Termination Of Leases</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentRegistrationStatement_lbl0" xml:lang="en-US">Document Registration Statement</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityAbstract_lbl0" xml:lang="en-US">Equity [abstract]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory_lbl0" xml:lang="en-US">Description of accounting policy for earnings per share [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentRestrictedCashAndCashEquivalents_lbl0" xml:lang="en-US">Current restricted cash and cash equivalents</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfDefinedBenefitPlansExplanatory_lbl0" xml:lang="en-US">Disclosure of defined benefit plans [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_MeasurementAdjustmentsRelatedToLeases_lbl1" xml:lang="en-US">Measurement Adjustments Related To Leases</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SoftwareServicesMember_lbl0" xml:lang="en-US">Software Services Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LeaseLiabilities_lbl0" xml:lang="en-US">Lease liabilities</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OutstandingSharePercentage_lbl1" xml:lang="en-US">Outstanding Share Percentage</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DenominatorAbstract_lbl0" xml:lang="en-US">Denominator Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans_lbl0" xml:lang="en-US">Net defined benefit liability (asset)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:to="ifrs-full_LiabilityAssetOfDefinedBenefitPlans_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LiabilitiesAbstract_lbl0" xml:lang="en-US">Liabilities [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesAbstract" xlink:to="ifrs-full_LiabilitiesAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AccruedInterestOnLongTermDebtOneMember_lbl0" xml:lang="en-US">Accrued Interest On Long Term Debt One Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccruedInterestOnLongTermDebtOneMember" xlink:to="mgic_AccruedInterestOnLongTermDebtOneMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfLiabilitiesInRespectOfTheBusinessCombinationsTableTextBlock_lbl0" xml:lang="en-US">Schedule Of Liabilities In Respect Of The Business Combinations Table Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfLiabilitiesInRespectOfTheBusinessCombinationsTableTextBlock" xlink:to="mgic_ScheduleOfLiabilitiesInRespectOfTheBusinessCombinationsTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfRightofuseAssetsExplanatory_lbl0" xml:lang="en-US">Schedule Of Rightofuse Assets Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfRightofuseAssetsExplanatory" xlink:to="mgic_ScheduleOfRightofuseAssetsExplanatory_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfReconciliationOfStatementsOfFinancialPositionAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfReconciliationOfStatementsOfFinancialPositionAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfReconciliationOfStatementsOfFinancialPositionAbstract_lbl" xml:lang="en-US">Schedule Of Reconciliation Of Statements Of Financial Position Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfReconciliationOfStatementsOfFinancialPositionAbstract" xlink:to="mgic_ScheduleOfReconciliationOfStatementsOfFinancialPositionAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_RedeemableNoncontrollingInterestsMember_lbl0" xml:lang="en-US">Redeemable Noncontrolling Interests Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RedeemableNoncontrollingInterestsMember" xlink:to="mgic_RedeemableNoncontrollingInterestsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_TaxExpenses_lbl1" xml:lang="en-US">Tax Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TaxExpenses" xlink:to="mgic_TaxExpenses_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityIncorporationStateCountryCode_lbl0" xml:lang="en-US">Entity Incorporation, State or Country Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SecurityExchangeName_lbl0" xml:lang="en-US">Security Exchange Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfLeasesTextBlockAbstract" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfLeasesTextBlockAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisclosureOfLeasesTextBlockAbstract_lbl" xml:lang="en-US">Disclosure Of Leases Text Block Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfLeasesTextBlockAbstract" xlink:to="mgic_DisclosureOfLeasesTextBlockAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine1_lbl0" xml:lang="en-US">Entity Address, Address Line One</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExplanationOfNatureAndExtentOfRenewalAndTerminationOptions_lbl0" xml:lang="en-US">Explanation of nature and extent of renewal and termination options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExplanationOfNatureAndExtentOfRenewalAndTerminationOptions" xlink:to="ifrs-full_ExplanationOfNatureAndExtentOfRenewalAndTerminationOptions_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LeasePercentage_lbl1" xml:lang="en-US">Lease Percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasePercentage" xlink:to="mgic_LeasePercentage_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncomeMember_lbl1" xml:lang="en-US">Accumulated other comprehensive income [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedOtherComprehensiveIncomeMember" xlink:to="ifrs-full_AccumulatedOtherComprehensiveIncomeMember_lbl1"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfAmortizationExpensesRelatedToIntangibleAssetsAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfAmortizationExpensesRelatedToIntangibleAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfAmortizationExpensesRelatedToIntangibleAssetsAbstract_lbl" xml:lang="en-US">Schedule Of Amortization Expenses Related To Intangible Assets Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfAmortizationExpensesRelatedToIntangibleAssetsAbstract" xlink:to="mgic_ScheduleOfAmortizationExpensesRelatedToIntangibleAssetsAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DeferredIncomeTaxExpensesBenefit_lbl1" xml:lang="en-US">Deferred Income Tax Expenses Benefit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredIncomeTaxExpensesBenefit" xlink:to="mgic_DeferredIncomeTaxExpensesBenefit_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Security12bTitle_lbl0" xml:lang="en-US">Title of 12(b) Security</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfCashAndCashEquivalentsAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfCashAndCashEquivalentsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfCashAndCashEquivalentsAbstract_lbl" xml:lang="en-US">Schedule Of Cash And Cash Equivalents Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfCashAndCashEquivalentsAbstract" xlink:to="mgic_ScheduleOfCashAndCashEquivalentsAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_FourHunderedSixtyNineMember_lbl0" xml:lang="en-US">Four Hundered Sixty Nine Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FourHunderedSixtyNineMember" xlink:to="mgic_FourHunderedSixtyNineMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CostPurchases_lbl0" xml:lang="en-US">Cost Purchases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostPurchases" xlink:to="mgic_CostPurchases_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_lbl0" xml:lang="en-US">Foreign exchange gain (loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:to="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnbilledReceivables_lbl0" xml:lang="en-US">Unbilled Receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnbilledReceivables" xlink:to="mgic_UnbilledReceivables_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_FinancialIncomeAbstract_lbl0" xml:lang="en-US">Financial Income Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FinancialIncomeAbstract" xlink:to="mgic_FinancialIncomeAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsExplanatory_lbl0" xml:lang="en-US">Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsExplanatory" xlink:to="ifrs-full_DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_TaxComputedAtTheStatutoryTaxRate_lbl1" xml:lang="en-US">Tax Computed At The Statutory Tax Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TaxComputedAtTheStatutoryTaxRate" xlink:to="mgic_TaxComputedAtTheStatutoryTaxRate_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxAssets_lbl0" xml:lang="en-US">Deferred tax assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxAssets" xlink:to="ifrs-full_DeferredTaxAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_lbl0" xml:lang="en-US">Cash flows from (used in) operating activities [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_PaidInCash_lbl1" xml:lang="en-US">Paid In Cash</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PaidInCash" xlink:to="mgic_PaidInCash_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OrdinarySharesSharesIssued_lbl1" xml:lang="en-US">Ordinary Shares Shares Issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OrdinarySharesSharesIssued" xlink:to="mgic_OrdinarySharesSharesIssued_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_ContactPersonnelName_lbl0" xml:lang="en-US">Contact Personnel Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_ContactPersonnelName" xlink:to="dei_ContactPersonnelName_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory_lbl0" xml:lang="en-US">Disclosure of number and weighted average exercise prices of share options [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory" xlink:to="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LongTermDebtMaturitiesYear_lbl1" xml:lang="en-US">Long Term Debt Maturities Year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LongTermDebtMaturitiesYear" xlink:to="mgic_LongTermDebtMaturitiesYear_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_PutOptionsOfNoncontrollingInterests_lbl1" xml:lang="en-US">Put Options Of Noncontrolling Interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PutOptionsOfNoncontrollingInterests" xlink:to="mgic_PutOptionsOfNoncontrollingInterests_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate_lbl0" xml:lang="en-US">Goodwill recognised as of acquisition date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfComputationOfBasicAndDilutedNetEarningsPerShareAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfComputationOfBasicAndDilutedNetEarningsPerShareAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfComputationOfBasicAndDilutedNetEarningsPerShareAbstract_lbl" xml:lang="en-US">Schedule Of Computation Of Basic And Diluted Net Earnings Per Share Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfComputationOfBasicAndDilutedNetEarningsPerShareAbstract" xlink:to="mgic_ScheduleOfComputationOfBasicAndDilutedNetEarningsPerShareAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_WorkingCapitalAbstract_lbl0" xml:lang="en-US">Working Capital Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WorkingCapitalAbstract" xlink:to="mgic_WorkingCapitalAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IncreaseInFairValueOfContingentConsideration_lbl0" xml:lang="en-US">Increase In Fair Value Of Contingent Consideration</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncreaseInFairValueOfContingentConsideration" xlink:to="mgic_IncreaseInFairValueOfContingentConsideration_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AccumulatedUnrealizedGainOnDerivativeInstrumentsNet_lbl0" xml:lang="en-US">Accumulated Unrealized Gain On Derivative Instruments Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedUnrealizedGainOnDerivativeInstrumentsNet" xlink:to="mgic_AccumulatedUnrealizedGainOnDerivativeInstrumentsNet_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfWeightedAverageRemainingLeaseTermsAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfWeightedAverageRemainingLeaseTermsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfWeightedAverageRemainingLeaseTermsAbstract_lbl" xml:lang="en-US">Schedule Of Weighted Average Remaining Lease Terms Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfWeightedAverageRemainingLeaseTermsAbstract" xlink:to="mgic_ScheduleOfWeightedAverageRemainingLeaseTermsAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfWeightedAverageRemainingLeaseTermsExplanatory_lbl0" xml:lang="en-US">Schedule Of Weighted Average Remaining Lease Terms Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfWeightedAverageRemainingLeaseTermsExplanatory" xlink:to="mgic_ScheduleOfWeightedAverageRemainingLeaseTermsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_TotalLongTermBorrowings_lbl1" xml:lang="en-US">Total Long Term Borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalLongTermBorrowings" xlink:to="mgic_TotalLongTermBorrowings_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CumulativeGainLossPreviouslyRecognisedInOtherComprehensiveIncomeArisingFromReclassificationOfFinancialAssetsOutOfFairValueThroughOtherComprehensiveIncomeIntoFairValueThroughProfitOrLossMeasurementCategory_lbl1" xml:lang="en-US">Cumulative gain (loss) previously recognised in other comprehensive income arising from reclassification of financial assets out of fair value through other comprehensive income into fair value through profit or loss measurement category</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CumulativeGainLossPreviouslyRecognisedInOtherComprehensiveIncomeArisingFromReclassificationOfFinancialAssetsOutOfFairValueThroughOtherComprehensiveIncomeIntoFairValueThroughProfitOrLossMeasurementCategory" xlink:to="ifrs-full_CumulativeGainLossPreviouslyRecognisedInOtherComprehensiveIncomeArisingFromReclassificationOfFinancialAssetsOutOfFairValueThroughOtherComprehensiveIncomeIntoFairValueThroughProfitOrLossMeasurementCategory_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_USGAAPMember_lbl0" xml:lang="en-US">USGAAPMember</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_USGAAPMember" xlink:to="mgic_USGAAPMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentShellCompanyReport_lbl0" xml:lang="en-US">Document Shell Company Report</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentShellCompanyReport" xlink:to="dei_DocumentShellCompanyReport_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LonglivedAssets_lbl1" xml:lang="en-US">Longlived Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LonglivedAssets" xlink:to="mgic_LonglivedAssets_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherCurrentNonfinancialAssets_lbl0" xml:lang="en-US">Other current non-financial assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCurrentNonfinancialAssets" xlink:to="ifrs-full_OtherCurrentNonfinancialAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember_lbl0" xml:lang="en-US">Later than one year and not later than two years [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:to="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory_lbl0" xml:lang="en-US">Disclosure of entity&apos;s operating segments [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:to="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent_lbl1" xml:lang="en-US">Income from continuing operations attributable to owners of parent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent" xlink:to="ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AppendixBAbstract_lbl0" xml:lang="en-US">Appendix BAbstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AppendixBAbstract" xlink:to="mgic_AppendixBAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_lbl1" xml:lang="en-US">Purchase of intangible assets, classified as investing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:to="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IncomeTaxExpensesBenefit_lbl1" xml:lang="en-US">Income Tax Expenses Benefit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncomeTaxExpensesBenefit" xlink:to="mgic_IncomeTaxExpensesBenefit_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DeferredForeignIncomeTaxExpenseBenefi_lbl1" xml:lang="en-US">Deferred Foreign Income Tax Expense Benefi</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredForeignIncomeTaxExpenseBenefi" xlink:to="mgic_DeferredForeignIncomeTaxExpenseBenefi_lbl1"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfLongTermLiabilitiesAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfLongTermLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfLongTermLiabilitiesAbstract_lbl" xml:lang="en-US">Schedule Of Long Term Liabilities Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfLongTermLiabilitiesAbstract" xlink:to="mgic_ScheduleOfLongTermLiabilitiesAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RevenueAbstract_lbl1" xml:lang="en-US">Revenue [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueAbstract" xlink:to="ifrs-full_RevenueAbstract_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CashandCashEquivalentsDetailsScheduleofcashandcashequivalentsLineItems_lbl0" xml:lang="en-US">Cashand Cash Equivalents Details Scheduleofcashandcashequivalents Line Items</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashandCashEquivalentsDetailsScheduleofcashandcashequivalentsLineItems" xlink:to="mgic_CashandCashEquivalentsDetailsScheduleofcashandcashequivalentsLineItems_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfAnnualRatesOfDepreciationAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfAnnualRatesOfDepreciationAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfAnnualRatesOfDepreciationAbstract_lbl" xml:lang="en-US">Schedule Of Annual Rates Of Depreciation Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfAnnualRatesOfDepreciationAbstract" xlink:to="mgic_ScheduleOfAnnualRatesOfDepreciationAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CapitalizedSoftwareCosts_lbl1" xml:lang="en-US">Capitalized Software Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CapitalizedSoftwareCosts" xlink:to="mgic_CapitalizedSoftwareCosts_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CompetitiveDigitalEcosystem_lbl1" xml:lang="en-US">Competitive Digital Ecosystem</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CompetitiveDigitalEcosystem" xlink:to="mgic_CompetitiveDigitalEcosystem_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OtherAccountsReceivavableAndPrepaidExpesnesLineItems_lbl0" xml:lang="en-US">Other Accounts Receivavable And Prepaid Expesnes Line Items</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OtherAccountsReceivavableAndPrepaidExpesnesLineItems" xlink:to="mgic_OtherAccountsReceivavableAndPrepaidExpesnesLineItems_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ParValuePerShare_lbl0" xml:lang="en-US">Par value per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ParValuePerShare" xlink:to="ifrs-full_ParValuePerShare_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations_lbl2" xml:lang="en-US">Adjustments Arising From Translating Financial Statements Of Foreign Operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations" xlink:to="mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CustomersoneMember_lbl0" xml:lang="en-US">Customersone Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CustomersoneMember" xlink:to="mgic_CustomersoneMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_TotalResearchandDevelopment_lbl0" xml:lang="en-US">Total Researchand Development</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalResearchandDevelopment" xlink:to="mgic_TotalResearchandDevelopment_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees_lbl0" xml:lang="en-US">Expense from share-based payment transactions with employees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:to="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_TotalShortTermBorrowings_lbl1" xml:lang="en-US">Total Short Term Borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalShortTermBorrowings" xlink:to="mgic_TotalShortTermBorrowings_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfEarningsPerShareExplanatory_lbl0" xml:lang="en-US">Disclosure of earnings per share [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfEarningsPerShareExplanatory" xlink:to="ifrs-full_DisclosureOfEarningsPerShareExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ThirdYearinShares_lbl1" xml:lang="en-US">Third Yearin Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ThirdYearinShares" xlink:to="mgic_ThirdYearinShares_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LiabilitiesAndEquityAbstract_lbl0" xml:lang="en-US">Liabilities And Equity Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LiabilitiesAndEquityAbstract" xlink:to="mgic_LiabilitiesAndEquityAbstract_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfRevenueByTimingOfRevenueRecognitionAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfRevenueByTimingOfRevenueRecognitionAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfRevenueByTimingOfRevenueRecognitionAbstract_lbl" xml:lang="en-US">Schedule Of Revenue By Timing Of Revenue Recognition Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfRevenueByTimingOfRevenueRecognitionAbstract" xlink:to="mgic_ScheduleOfRevenueByTimingOfRevenueRecognitionAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_StockOptionPlanOfCommITSolutionsMember_lbl0" xml:lang="en-US">Stock Option Plan Of Comm ITSolutions Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_StockOptionPlanOfCommITSolutionsMember" xlink:to="mgic_StockOptionPlanOfCommITSolutionsMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfLongLivedAssetsClassifiedAccordingToGeographicalDestinationAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfLongLivedAssetsClassifiedAccordingToGeographicalDestinationAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfLongLivedAssetsClassifiedAccordingToGeographicalDestinationAbstract_lbl" xml:lang="en-US">Schedule Of Long Lived Assets Classified According To Geographical Destination Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfLongLivedAssetsClassifiedAccordingToGeographicalDestinationAbstract" xlink:to="mgic_ScheduleOfLongLivedAssetsClassifiedAccordingToGeographicalDestinationAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfOtherNoncurrentAssetsExplanatory_lbl0" xml:lang="en-US">Disclosure of other non-current assets [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfOtherNoncurrentAssetsExplanatory" xlink:to="ifrs-full_DisclosureOfOtherNoncurrentAssetsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashAdvancesAndLoansMadeToRelatedParties_lbl0" xml:lang="en-US">Cash advances and loans made to related parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAdvancesAndLoansMadeToRelatedParties" xlink:to="ifrs-full_CashAdvancesAndLoansMadeToRelatedParties_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DeferredTaxAssetsNonCurrent_lbl0" xml:lang="en-US">Deferred Tax Assets Non Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredTaxAssetsNonCurrent" xlink:to="mgic_DeferredTaxAssetsNonCurrent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue_lbl0" xml:lang="en-US">Description of accounting policy for recognition of revenue [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherRevenue_lbl0" xml:lang="en-US">Other revenue</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherRevenue" xlink:to="ifrs-full_OtherRevenue_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_TotalLongTermDebtMember_lbl0" xml:lang="en-US">Total Long Term Debt Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalLongTermDebtMember" xlink:to="mgic_TotalLongTermDebtMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl0" xml:lang="en-US">Cash flows from (used in) financing activities [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CostAcquisition_lbl0" xml:lang="en-US">Cost Acquisition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAcquisition" xlink:to="mgic_CostAcquisition_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ComputersAndPeripheralEquipmentMember_lbl0" xml:lang="en-US">Computers And Peripheral Equipment Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ComputersAndPeripheralEquipmentMember" xlink:to="mgic_ComputersAndPeripheralEquipmentMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory_lbl0" xml:lang="en-US">Description of accounting policy for leases [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_TaxesOnIncome_lbl1" xml:lang="en-US">Taxes On Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TaxesOnIncome" xlink:to="mgic_TaxesOnIncome_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_lbl0" xml:lang="en-US">Number of share options exercised in share-based payment arrangement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseInDeferredTaxLiabilityAsset_lbl0" xml:lang="en-US">Increase (decrease) in deferred tax liability (asset)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInDeferredTaxLiabilityAsset" xlink:to="ifrs-full_IncreaseDecreaseInDeferredTaxLiabilityAsset_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Goodwill_lbl0" xml:lang="en-US">Goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Goodwill" xlink:to="ifrs-full_Goodwill_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_PurchaseOfShares_lbl1" xml:lang="en-US">Purchase Of Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PurchaseOfShares" xlink:to="mgic_PurchaseOfShares_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionMember_lbl0" xml:lang="en-US">Current Maturities Of Longterm Loans From Financial Institution Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionMember" xlink:to="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CapitalizedDevelopmentCosts_lbl1" xml:lang="en-US">Capitalized Development Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CapitalizedDevelopmentCosts" xlink:to="mgic_CapitalizedDevelopmentCosts_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DeferredTaxesAssets_lbl1" xml:lang="en-US">Deferred Taxes Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredTaxesAssets" xlink:to="mgic_DeferredTaxesAssets_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl0" xml:lang="en-US">Profit (loss), attributable to owners of parent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:to="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BottomOfRangeMember_lbl1" xml:lang="en-US">Bottom of range [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BottomOfRangeMember" xlink:to="ifrs-full_BottomOfRangeMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DeferredTaxLiabilitiesNonCurrent_lbl0" xml:lang="en-US">Deferred Tax Liabilities Non Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredTaxLiabilitiesNonCurrent" xlink:to="mgic_DeferredTaxLiabilitiesNonCurrent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AmortizationOfPremiumAndAccruedInterestOnDebtInstrumentsAtFairValueThroughOtherCo_lbl1" xml:lang="en-US">Amortization Of Premium And Accrued Interest On Debt Instruments At Fair Value Through Other Co</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AmortizationOfPremiumAndAccruedInterestOnDebtInstrumentsAtFairValueThroughOtherCo" xlink:to="mgic_AmortizationOfPremiumAndAccruedInterestOnDebtInstrumentsAtFairValueThroughOtherCo_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CapitalizedSoftwareDevelopmentCostsMember_lbl0" xml:lang="en-US">Capitalized Software Development Costs Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CapitalizedSoftwareDevelopmentCostsMember" xlink:to="mgic_CapitalizedSoftwareDevelopmentCostsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement_lbl0" xml:lang="en-US">Number of share options exercisable in share-based payment arrangement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestPaidClassifiedAsOperatingActivities_lbl0" xml:lang="en-US">Interest paid, classified as operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestPaidClassifiedAsOperatingActivities" xlink:to="ifrs-full_InterestPaidClassifiedAsOperatingActivities_lbl0"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AttributableToAbstract_lbl0" xml:lang="en-US">Attributable To Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanOneYearMember_lbl1" xml:lang="en-US">Later than one year [member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BuildingsMember_lbl0" xml:lang="en-US">Buildings [member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Revenue_lbl0" xml:lang="en-US">Revenue</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GovernmentDebtInstrumentsHeld_lbl0" xml:lang="en-US">Government debt instruments held</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory_lbl0" xml:lang="en-US">Description of accounting policy for property, plant and equipment [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AccumulatedAmortizationAndImpairment_lbl2" xml:lang="en-US">Accumulated Amortization And Impairment</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_FinancialExpensesRelatedToLiabilitiesInRespectOfBusinessCombinations_lbl1" xml:lang="en-US">Financial Expenses Related To Liabilities In Respect Of Business Combinations</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_PropertyPlantsandEquipmentNetDetailsScheduleofthecompositionandmovementLineItems_lbl0" xml:lang="en-US">Property Plantsand Equipment Net Details Scheduleofthecompositionandmovement Line Items</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PropertyPlantsandEquipmentNetDetailsScheduleofthecompositionandmovementLineItems" xlink:to="mgic_PropertyPlantsandEquipmentNetDetailsScheduleofthecompositionandmovementLineItems_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LiabilityInRespectOfBusinessCombination_lbl1" xml:lang="en-US">Liability In Respect Of Business Combination</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl0" xml:lang="en-US">Cash flows from (used in) investing activities [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BasicEarningsLossPerShareFromContinuingOperations_lbl0" xml:lang="en-US">Basic earnings (loss) per share from continuing operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BasicEarningsLossPerShareFromContinuingOperations" xlink:to="ifrs-full_BasicEarningsLossPerShareFromContinuingOperations_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_NetLiabilitiesExcludingCashAcquired_lbl1" xml:lang="en-US">Net Liabilities Excluding Cash Acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetLiabilitiesExcludingCashAcquired" xlink:to="mgic_NetLiabilitiesExcludingCashAcquired_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AmountsThatWillBeOrThatHaveBeenReclassifiedToProfitOrLossWhenSpecificConditionsAreMetAbstract_lbl0" xml:lang="en-US">Amounts That Will Be Or That Have Been Reclassified To Profit Or Loss When Specific Conditions Are Met Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AmountsThatWillBeOrThatHaveBeenReclassifiedToProfitOrLossWhenSpecificConditionsAreMetAbstract" xlink:to="mgic_AmountsThatWillBeOrThatHaveBeenReclassifiedToProfitOrLossWhenSpecificConditionsAreMetAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_EmployeeContributionsPercentage_lbl1" xml:lang="en-US">Employee Contributions Percentage</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LongTermLiabilitiesAbstract_lbl0" xml:lang="en-US">Long Term Liabilities Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LongTermLiabilitiesAbstract" xlink:to="mgic_LongTermLiabilitiesAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory_lbl0" xml:lang="en-US">Description of accounting policy for income tax [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_TotalRevenues_lbl0" xml:lang="en-US">Total Revenues</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinanceCosts_lbl0" xml:lang="en-US">Finance costs</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Cash_lbl0" xml:lang="en-US">Cash</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl0" xml:lang="en-US">Cash flows from (used in) financing activities</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GoodwillExpectedDeductibleForTaxPurposes_lbl0" xml:lang="en-US">Goodwill expected to be deductible for tax purposes</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LoanObtained_lbl1" xml:lang="en-US">Loan Obtained</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_NonadjustingEventAfterReportingPeriodMember_lbl0" xml:lang="en-US">Nonadjusting Event After Reporting Period Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_StatutoryTaxRatePercentage_lbl1" xml:lang="en-US">Statutory Tax Rate Percentage</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions_lbl0" xml:lang="en-US">Decrease (increase) through tax on share-based payment transactions, equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions" xlink:to="ifrs-full_DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AccumulatedDepreciationAndAmortisationMember_lbl0" xml:lang="en-US">Accumulated depreciation and amortisation [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:to="ifrs-full_AccumulatedDepreciationAndAmortisationMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ControllingShareholderMember_lbl0" xml:lang="en-US">Controlling Shareholder Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IssuedCapital_lbl1" xml:lang="en-US">Issued capital</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CostAbstract_lbl0" xml:lang="en-US">Cost Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_TotalMember_lbl0" xml:lang="en-US">Total Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustedWeightedAverageShares_lbl0" xml:lang="en-US">Weighted average number of ordinary shares used in calculating diluted earnings per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustedWeightedAverageShares" xlink:to="ifrs-full_AdjustedWeightedAverageShares_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfDetailedInformationAboutIntangibleAssetsTextBlockAbstract" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfDetailedInformationAboutIntangibleAssetsTextBlockAbstract"/>
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    <loc xlink:type="locator" xlink:label="mgic_ConsolidatedStatementsOfChangesInEquityAbstract" xlink:href="mgic-20221231.xsd#mgic_ConsolidatedStatementsOfChangesInEquityAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember_lbl0" xml:lang="en-US">Later than one month and not later than three months [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember" xlink:to="ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityAndLiabilities_lbl1" xml:lang="en-US">Equity and liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAndLiabilities" xlink:to="ifrs-full_EquityAndLiabilities_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CurrentAbstract_lbl0" xml:lang="en-US">Current Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherLongtermBenefits_lbl0" xml:lang="en-US">Other long-term employee benefits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherLongtermBenefits" xlink:to="ifrs-full_OtherLongtermBenefits_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfRevenuesClassifiedToGeographicalDestinationExplanatory" xlink:to="mgic_ScheduleOfRevenuesClassifiedToGeographicalDestinationExplanatory_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfEntitysOperatingSegmentsTextBlockAbstract" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfEntitysOperatingSegmentsTextBlockAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdvertisingExpense_lbl0" xml:lang="en-US">Advertising expense</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdditionalPaidinCapital_lbl0" xml:lang="en-US">Additional paid-in capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionalPaidinCapital" xlink:to="ifrs-full_AdditionalPaidinCapital_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LoansFromBanksAndOthersMember_lbl0" xml:lang="en-US">Loans From Banks And Others Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LoansFromBanksAndOthersMember" xlink:to="mgic_LoansFromBanksAndOthersMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AmortizationOfInterestAndExchangeRate_lbl0" xml:lang="en-US">Amortization Of Interest And Exchange Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AmortizationOfInterestAndExchangeRate" xlink:to="mgic_AmortizationOfInterestAndExchangeRate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnrecognizedCompensationCostRelatedToNonVestedOptions_lbl1" xml:lang="en-US">Unrecognized Compensation Cost Related To Non Vested Options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnrecognizedCompensationCostRelatedToNonVestedOptions" xlink:to="mgic_UnrecognizedCompensationCostRelatedToNonVestedOptions_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OtherCurrentAndLongtermAccountsReceivable_lbl1" xml:lang="en-US">Other Current And Longterm Accounts Receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OtherCurrentAndLongtermAccountsReceivable" xlink:to="mgic_OtherCurrentAndLongtermAccountsReceivable_lbl1"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfIntangibleAssetsCompositionByReportableSegmentAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfIntangibleAssetsCompositionByReportableSegmentAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfIntangibleAssetsCompositionByReportableSegmentAbstract_lbl" xml:lang="en-US">Schedule Of Intangible Assets Composition By Reportable Segment Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfIntangibleAssetsCompositionByReportableSegmentAbstract" xlink:to="mgic_ScheduleOfIntangibleAssetsCompositionByReportableSegmentAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_Subcontractors_lbl1" xml:lang="en-US">Subcontractors</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_Subcontractors" xlink:to="mgic_Subcontractors_lbl1"/>
    <loc xlink:type="locator" xlink:label="ifrs-full_StatementOfCashFlowsAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_StatementOfCashFlowsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatementOfCashFlowsAbstract_lbl" xml:lang="en-US">Statement of cash flows [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfCashFlowsAbstract" xlink:to="ifrs-full_StatementOfCashFlowsAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MotorVehiclesMember_lbl1" xml:lang="en-US">Motor vehicles [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MotorVehiclesMember" xlink:to="ifrs-full_MotorVehiclesMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpense_lbl0" xml:lang="en-US">Selling, general and administrative expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:to="ifrs-full_SellingGeneralAndAdministrativeExpense_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_TradeReceivablesNetOfAllowance_lbl1" xml:lang="en-US">Trade Receivables Net Of Allowance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TradeReceivablesNetOfAllowance" xlink:to="mgic_TradeReceivablesNetOfAllowance_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AdjustmentsForIndexation_lbl0" xml:lang="en-US">Adjustments For Indexation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdjustmentsForIndexation" xlink:to="mgic_AdjustmentsForIndexation_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember_lbl0" xml:lang="en-US">Later than three months and not later than six months [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember" xlink:to="ifrs-full_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AuditorLocation_lbl0" xml:lang="en-US">Auditor Location</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditorLocation" xlink:to="dei_AuditorLocation_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfEstimatedFutureAmortizationOfIntangibleAssetsAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfEstimatedFutureAmortizationOfIntangibleAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfEstimatedFutureAmortizationOfIntangibleAssetsAbstract_lbl" xml:lang="en-US">Schedule Of Estimated Future Amortization Of Intangible Assets Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfEstimatedFutureAmortizationOfIntangibleAssetsAbstract" xlink:to="mgic_ScheduleOfEstimatedFutureAmortizationOfIntangibleAssetsAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ChangesInValueOfShorttermAndLongtermLoansFromBanksAndOthersAndDepositsNet_lbl1" xml:lang="en-US">Changes In Value Of Shortterm And Longterm Loans From Banks And Others And Deposits Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ChangesInValueOfShorttermAndLongtermLoansFromBanksAndOthersAndDepositsNet" xlink:to="mgic_ChangesInValueOfShorttermAndLongtermLoansFromBanksAndOthersAndDepositsNet_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CompanyRevenues_lbl0" xml:lang="en-US">Company Revenues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CompanyRevenues" xlink:to="mgic_CompanyRevenues_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisposalsDuringTheYearAbstract1_lbl0" xml:lang="en-US">Disposals During The Year Abstract1</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisposalsDuringTheYearAbstract1" xlink:to="mgic_DisposalsDuringTheYearAbstract1_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisposalsDuringTheYearAbstract0_lbl0" xml:lang="en-US">Disposals During The Year Abstract0</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisposalsDuringTheYearAbstract0" xlink:to="mgic_DisposalsDuringTheYearAbstract0_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisposalsDuringTheYearAbstract2_lbl0" xml:lang="en-US">Disposals During The Year Abstract2</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisposalsDuringTheYearAbstract2" xlink:to="mgic_DisposalsDuringTheYearAbstract2_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AccumulatedAmortizationAndImpairmentAbstract0_lbl0" xml:lang="en-US">Accumulated Amortization And Impairment Abstract0</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedAmortizationAndImpairmentAbstract0" xlink:to="mgic_AccumulatedAmortizationAndImpairmentAbstract0_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_EstimatedUsefulLifeOfAsset_lbl1" xml:lang="en-US">Estimated Useful Life Of Asset</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EstimatedUsefulLifeOfAsset" xlink:to="mgic_EstimatedUsefulLifeOfAsset_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_PaymentOfContingentConsideration_lbl0" xml:lang="en-US">Payment Of Contingent Consideration</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PaymentOfContingentConsideration" xlink:to="mgic_PaymentOfContingentConsideration_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl0" xml:lang="en-US">Entity Registrant Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfLeasesExplanatory_lbl0" xml:lang="en-US">Disclosure of leases [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfLeasesExplanatory" xlink:to="ifrs-full_DisclosureOfLeasesExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TaxRateEffectOfTaxLosses_lbl0" xml:lang="en-US">Tax rate effect of tax losses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxRateEffectOfTaxLosses" xlink:to="ifrs-full_TaxRateEffectOfTaxLosses_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AcquiredTechnology_lbl1" xml:lang="en-US">Acquired Technology</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquiredTechnology" xlink:to="mgic_AcquiredTechnology_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentLiabilities_lbl0" xml:lang="en-US">Current liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="ifrs-full_CurrentLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OtherMember_lbl0" xml:lang="en-US">Other Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OtherMember" xlink:to="mgic_OtherMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherComprehensiveIncome_lbl1" xml:lang="en-US">Other comprehensive income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncome" xlink:to="ifrs-full_OtherComprehensiveIncome_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CityAreaCode_lbl0" xml:lang="en-US">City Area Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_FifthYearAndThereafter_lbl1" xml:lang="en-US">Fifth Year And Thereafter</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FifthYearAndThereafter" xlink:to="mgic_FifthYearAndThereafter_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_NoncashActivitiesAbstract_lbl0" xml:lang="en-US">Noncash Activities Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NoncashActivitiesAbstract" xlink:to="mgic_NoncashActivitiesAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCountry_lbl0" xml:lang="en-US">Entity Address, Country</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCountry" xlink:to="dei_EntityAddressCountry_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GrossProfit_lbl1" xml:lang="en-US">Gross profit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossProfit" xlink:to="ifrs-full_GrossProfit_lbl1"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfPastDueButNotImpairedTradeReceivablesAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfPastDueButNotImpairedTradeReceivablesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfPastDueButNotImpairedTradeReceivablesAbstract_lbl" xml:lang="en-US">Schedule Of Past Due But Not Impaired Trade Receivables Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfPastDueButNotImpairedTradeReceivablesAbstract" xlink:to="mgic_ScheduleOfPastDueButNotImpairedTradeReceivablesAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SecondYear_lbl1" xml:lang="en-US">Second Year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SecondYear" xlink:to="mgic_SecondYear_lbl1"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfRelatedPartyTextBlockAbstract" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfRelatedPartyTextBlockAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisclosureOfRelatedPartyTextBlockAbstract_lbl" xml:lang="en-US">Disclosure Of Related Party Text Block Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfRelatedPartyTextBlockAbstract" xlink:to="mgic_DisclosureOfRelatedPartyTextBlockAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_PercentageOfPerformanceObligations_lbl1" xml:lang="en-US">Percentage Of Performance Obligations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PercentageOfPerformanceObligations" xlink:to="mgic_PercentageOfPerformanceObligations_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_EffectOfExchangeRateOnOfCashAndCashEquivalentsHeldInCurrenciesOtherThanTheFunctio_lbl1" xml:lang="en-US">Effect Of Exchange Rate On Of Cash And Cash Equivalents Held In Currencies Other Than The Functio</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EffectOfExchangeRateOnOfCashAndCashEquivalentsHeldInCurrenciesOtherThanTheFunctio" xlink:to="mgic_EffectOfExchangeRateOnOfCashAndCashEquivalentsHeldInCurrenciesOtherThanTheFunctio_lbl1"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfDefinedBenefitPlansAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfDefinedBenefitPlansAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfDefinedBenefitPlansAbstract_lbl" xml:lang="en-US">Schedule Of Defined Benefit Plans Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfDefinedBenefitPlansAbstract" xlink:to="mgic_ScheduleOfDefinedBenefitPlansAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities_lbl0" xml:lang="en-US">Proceeds from borrowings, classified as financing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:to="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CurrentAssetsRecognisedAsOfAcquisition_lbl1" xml:lang="en-US">Current Assets Recognised As Of Acquisition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CurrentAssetsRecognisedAsOfAcquisition" xlink:to="mgic_CurrentAssetsRecognisedAsOfAcquisition_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory_lbl0" xml:lang="en-US">Description of accounting policy for share-based payment transactions [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract_lbl0" xml:lang="en-US">Additional disclosures for amounts recognised as of acquisition date for each major class of assets acquired and liabilities assumed [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract" xlink:to="ifrs-full_AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities_lbl3" xml:lang="en-US">Intangible Assets Net Of Deferred Tax Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities" xlink:to="mgic_IntangibleAssetsNetOfDeferredTaxLiabilities_lbl3"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents_lbl0" xml:lang="en-US">Short-term deposits, classified as cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:to="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_EstimatedFutureAmortizationExpensesThree_lbl1" xml:lang="en-US">Estimated Future Amortization Expenses Three</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EstimatedFutureAmortizationExpensesThree" xlink:to="mgic_EstimatedFutureAmortizationExpensesThree_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ForeignExchangeLoss_lbl0" xml:lang="en-US">Foreign exchange loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ForeignExchangeLoss" xlink:to="ifrs-full_ForeignExchangeLoss_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OperatingLossCarryforwardsAmount_lbl1" xml:lang="en-US">Operating Loss Carryforwards Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OperatingLossCarryforwardsAmount" xlink:to="mgic_OperatingLossCarryforwardsAmount_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherNoncurrentLiabilities_lbl0" xml:lang="en-US">Other non-current liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNoncurrentLiabilities" xlink:to="ifrs-full_OtherNoncurrentLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AcquisitionOfRedeemableNoncontrollingInterests_lbl1" xml:lang="en-US">Acquisition Of Redeemable Noncontrolling Interests</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CostDisposals_lbl0" xml:lang="en-US">Cost Disposals</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DecreaseInFairValueOfContingentConsideration_lbl0" xml:lang="en-US">Decrease In Fair Value Of Contingent Consideration</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DecreaseInFairValueOfContingentConsideration" xlink:to="mgic_DecreaseInFairValueOfContingentConsideration_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NotLaterThanOneMonthMember_lbl0" xml:lang="en-US">Not later than one month [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotLaterThanOneMonthMember" xlink:to="ifrs-full_NotLaterThanOneMonthMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_MagicSoftwareEnterprisesLtdShareholdersEquityAbstract_lbl0" xml:lang="en-US">Magic Software Enterprises Ltd Shareholders Equity Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_MagicSoftwareEnterprisesLtdShareholdersEquityAbstract" xlink:to="mgic_MagicSoftwareEnterprisesLtdShareholdersEquityAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_TransitionToIfrsAbstract0_lbl0" xml:lang="en-US">Transition To Ifrs Abstract0</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TransitionToIfrsAbstract0" xlink:to="mgic_TransitionToIfrsAbstract0_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfEquityAttributableToMagicSShareholdersAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfEquityAttributableToMagicSShareholdersAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfEquityAttributableToMagicSShareholdersAbstract_lbl" xml:lang="en-US">Schedule Of Equity Attributable To Magic SShareholders Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfEquityAttributableToMagicSShareholdersAbstract" xlink:to="mgic_ScheduleOfEquityAttributableToMagicSShareholdersAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashOutflowForLeases_lbl0" xml:lang="en-US">Cash outflow for leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashOutflowForLeases" xlink:to="ifrs-full_CashOutflowForLeases_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityInstrumentsHeld_lbl0" xml:lang="en-US">Equity instruments held</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityInstrumentsHeld" xlink:to="ifrs-full_EquityInstrumentsHeld_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashAndCashEquivalents_lbl2" xml:lang="en-US">Cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalents" xlink:to="ifrs-full_CashAndCashEquivalents_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CostOfMaintenanceAndTechnicalSupport_lbl1" xml:lang="en-US">Cost Of Maintenance And Technical Support</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostOfMaintenanceAndTechnicalSupport" xlink:to="mgic_CostOfMaintenanceAndTechnicalSupport_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CashPaidInConjunctionWithAcquisitionsNetOfAcquiredCashAbstract_lbl0" xml:lang="en-US">Cash Paid In Conjunction With Acquisitions Net Of Acquired Cash Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashPaidInConjunctionWithAcquisitionsNetOfAcquiredCashAbstract" xlink:to="mgic_CashPaidInConjunctionWithAcquisitionsNetOfAcquiredCashAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill_lbl0" xml:lang="en-US">Disposals, intangible assets other than goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill" xlink:to="ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AccruedInterestOnLongTermDebtMember_lbl0" xml:lang="en-US">Accrued Interest On Long Term Debt Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccruedInterestOnLongTermDebtMember" xlink:to="mgic_AccruedInterestOnLongTermDebtMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShortTermCreditFromBanksMember_lbl0" xml:lang="en-US">Short Term Credit From Banks Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShortTermCreditFromBanksMember" xlink:to="mgic_ShortTermCreditFromBanksMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_PurchaseOfSharesHoldingPercentage_lbl1" xml:lang="en-US">Purchase Of Shares Holding Percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PurchaseOfSharesHoldingPercentage" xlink:to="mgic_PurchaseOfSharesHoldingPercentage_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ForeignCurrencyTranslationAdjustments_lbl0" xml:lang="en-US">Foreign Currency Translation Adjustments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ForeignCurrencyTranslationAdjustments" xlink:to="mgic_ForeignCurrencyTranslationAdjustments_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IntangiblesFixedAssetLeaseLiabilitiesAndRightOfUseAssets_lbl1" xml:lang="en-US">Intangibles Fixed Asset Lease Liabilities And Right Of Use Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangiblesFixedAssetLeaseLiabilitiesAndRightOfUseAssets" xlink:to="mgic_IntangiblesFixedAssetLeaseLiabilitiesAndRightOfUseAssets_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding_lbl2" xml:lang="en-US">Share Based Compensations Aggregate Intrinsic Value Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding" xlink:to="mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CurrentAssetsAbstract0_lbl0" xml:lang="en-US">Current Assets Abstract0</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CurrentAssetsAbstract0" xlink:to="mgic_CurrentAssetsAbstract0_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RevenueFromRenderingOfServices_lbl0" xml:lang="en-US">Revenue from rendering of services</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromRenderingOfServices" xlink:to="ifrs-full_RevenueFromRenderingOfServices_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_lbl1" xml:lang="en-US">Weighted average exercise price of share options outstanding in share-based payment arrangement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_PaymentsOfDeferredAndContingentConsiderationRelatedToAcquisitions_lbl1" xml:lang="en-US">Payments Of Deferred And Contingent Consideration Related To Acquisitions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PaymentsOfDeferredAndContingentConsiderationRelatedToAcquisitions" xlink:to="mgic_PaymentsOfDeferredAndContingentConsiderationRelatedToAcquisitions_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CurrentFederalTaxExpenseBenefi_lbl1" xml:lang="en-US">Current Federal Tax Expense Benefi</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CurrentFederalTaxExpenseBenefi" xlink:to="mgic_CurrentFederalTaxExpenseBenefi_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SeverancePayFund_lbl1" xml:lang="en-US">Severance Pay Fund</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SeverancePayFund" xlink:to="mgic_SeverancePayFund_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl1" xml:lang="en-US">Property, plant and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipment" xlink:to="ifrs-full_PropertyPlantAndEquipment_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_ContactPersonnelEmailAddress_lbl0" xml:lang="en-US">Contact Personnel Email Address</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_ContactPersonnelEmailAddress" xlink:to="dei_ContactPersonnelEmailAddress_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LeaseholdImprovementsMember_lbl0" xml:lang="en-US">Leasehold improvements [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LeaseholdImprovementsMember" xlink:to="ifrs-full_LeaseholdImprovementsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DilutedEarningsLossPerShare_lbl0" xml:lang="en-US">Diluted earnings (loss) per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DilutedEarningsLossPerShare" xlink:to="ifrs-full_DilutedEarningsLossPerShare_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_FairValueofAssetsAcquiredandLiabilitiesNoncontrollingInterests_lbl1" xml:lang="en-US">Fair Valueof Assets Acquiredand Liabilities Noncontrolling Interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FairValueofAssetsAcquiredandLiabilitiesNoncontrollingInterests" xlink:to="mgic_FairValueofAssetsAcquiredandLiabilitiesNoncontrollingInterests_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DeferredRevenueOther_lbl0" xml:lang="en-US">Deferred Revenue Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredRevenueOther" xlink:to="mgic_DeferredRevenueOther_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfEventsAfterReportingPeriodTextBlockAbstract" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfEventsAfterReportingPeriodTextBlockAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisclosureOfEventsAfterReportingPeriodTextBlockAbstract_lbl" xml:lang="en-US">Disclosure Of Events After Reporting Period Text Block Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfEventsAfterReportingPeriodTextBlockAbstract" xlink:to="mgic_DisclosureOfEventsAfterReportingPeriodTextBlockAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CostofRevenueAbstract_lbl0" xml:lang="en-US">Costof Revenue Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostofRevenueAbstract" xlink:to="mgic_CostofRevenueAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ResearchAndDevelopmentExpense_lbl1" xml:lang="en-US">Research and development expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ResearchAndDevelopmentExpense" xlink:to="ifrs-full_ResearchAndDevelopmentExpense_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations_lbl0" xml:lang="en-US">Diluted earnings (loss) per share from continuing operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations" xlink:to="ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IncomeBeforeIncomeTaxesAsPerTheStatementOfOperations_lbl1" xml:lang="en-US">Income Before Income Taxes As Per The Statement Of Operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncomeBeforeIncomeTaxesAsPerTheStatementOfOperations" xlink:to="mgic_IncomeBeforeIncomeTaxesAsPerTheStatementOfOperations_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CostOfSales_lbl0" xml:lang="en-US">Cost of sales</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CostOfSales" xlink:to="ifrs-full_CostOfSales_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory_lbl0" xml:lang="en-US">Description of accounting policy for transactions with non-controlling interests [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfEmployeeOptionActivityAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfEmployeeOptionActivityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfEmployeeOptionActivityAbstract_lbl" xml:lang="en-US">Schedule Of Employee Option Activity Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfEmployeeOptionActivityAbstract" xlink:to="mgic_ScheduleOfEmployeeOptionActivityAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred_lbl0" xml:lang="en-US">Consideration transferred, acquisition-date fair value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:to="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalYearFocus_lbl0" xml:lang="en-US">Document Fiscal Year Focus</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfFinancialLiabilitiesExplanatory_lbl0" xml:lang="en-US">Disclosure of financial liabilities [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFinancialLiabilitiesExplanatory" xlink:to="ifrs-full_DisclosureOfFinancialLiabilitiesExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityEmergingGrowthCompany_lbl0" xml:lang="en-US">Entity Emerging Growth Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinanceIncomeCost_lbl0" xml:lang="en-US">Finance income (cost)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceIncomeCost" xlink:to="ifrs-full_FinanceIncomeCost_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DeferredTaxesOnLossesForWhichDeferredTaxesWereNotCreated_lbl1" xml:lang="en-US">Deferred Taxes On Losses For Which Deferred Taxes Were Not Created</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DeferredTaxesOnLossesForWhichDeferredTaxesWereNotCreated" xlink:to="mgic_DeferredTaxesOnLossesForWhichDeferredTaxesWereNotCreated_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory_lbl0" xml:lang="en-US">Disclosure of general and administrative expense [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:to="ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ZeroPointTwoEightMember_lbl0" xml:lang="en-US">Zero Point Two Eight Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ZeroPointTwoEightMember" xlink:to="mgic_ZeroPointTwoEightMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_WeightedAverageRemainingContractualLifeExercisePrice_lbl1" xml:lang="en-US">Weighted Average Remaining Contractual Life Exercise Price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageRemainingContractualLifeExercisePrice" xlink:to="mgic_WeightedAverageRemainingContractualLifeExercisePrice_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherShorttermEmployeeBenefits_lbl0" xml:lang="en-US">Other short-term employee benefits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherShorttermEmployeeBenefits" xlink:to="ifrs-full_OtherShorttermEmployeeBenefits_lbl0"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract91_lbl0" xml:lang="en-US">Unlabeled Abstract91</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinanceIncome_lbl1" xml:lang="en-US">Finance income</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AdvancePaymentForFutureAcquisition_lbl1" xml:lang="en-US">Advance Payment For Future Acquisition</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatementOfFinancialPositionAbstract_lbl" xml:lang="en-US">Statement of financial position [abstract]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LandAndBuildingsMember_lbl0" xml:lang="en-US">Land and buildings [member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract53_lbl0" xml:lang="en-US">Unlabeled Abstract53</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract53" xlink:to="mgic_UnlabeledAbstract53_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory_lbl0" xml:lang="en-US">Disclosure of range of exercise prices of outstanding share options [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract58_lbl0" xml:lang="en-US">Unlabeled Abstract58</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract58" xlink:to="mgic_UnlabeledAbstract58_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract59_lbl0" xml:lang="en-US">Unlabeled Abstract59</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract59" xlink:to="mgic_UnlabeledAbstract59_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract56_lbl0" xml:lang="en-US">Unlabeled Abstract56</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract56" xlink:to="mgic_UnlabeledAbstract56_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract57_lbl0" xml:lang="en-US">Unlabeled Abstract57</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract57" xlink:to="mgic_UnlabeledAbstract57_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract18_lbl0" xml:lang="en-US">Unlabeled Abstract18</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract18" xlink:to="mgic_UnlabeledAbstract18_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract19_lbl0" xml:lang="en-US">Unlabeled Abstract19</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract19" xlink:to="mgic_UnlabeledAbstract19_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfFairValueMeasurementTextBlockAbstract" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfFairValueMeasurementTextBlockAbstract"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfFairValueMeasurementTextBlockAbstract" xlink:to="mgic_DisclosureOfFairValueMeasurementTextBlockAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract16_lbl0" xml:lang="en-US">Unlabeled Abstract16</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract16" xlink:to="mgic_UnlabeledAbstract16_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract17_lbl0" xml:lang="en-US">Unlabeled Abstract17</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract17" xlink:to="mgic_UnlabeledAbstract17_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherNoncurrentReceivables_lbl0" xml:lang="en-US">Other non-current receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNoncurrentReceivables" xlink:to="ifrs-full_OtherNoncurrentReceivables_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OperatingLeasesFutureMinimumPaymentDue_lbl1" xml:lang="en-US">Operating Leases Future Minimum Payment Due</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OperatingLeasesFutureMinimumPaymentDue" xlink:to="mgic_OperatingLeasesFutureMinimumPaymentDue_lbl1"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfIntangibleAssetsOfCompositionAndMovementAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfIntangibleAssetsOfCompositionAndMovementAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfIntangibleAssetsOfCompositionAndMovementAbstract_lbl" xml:lang="en-US">Schedule Of Intangible Assets Of Composition And Movement Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfIntangibleAssetsOfCompositionAndMovementAbstract" xlink:to="mgic_ScheduleOfIntangibleAssetsOfCompositionAndMovementAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IntangibleAssets_lbl1" xml:lang="en-US">Intangible Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IntangibleAssets" xlink:to="mgic_IntangibleAssets_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_WeightedAverageExpectedExerciseFactor_lbl1" xml:lang="en-US">Weighted Average Expected Exercise Factor</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageExpectedExerciseFactor" xlink:to="mgic_WeightedAverageExpectedExerciseFactor_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_PutOptionsOfNoncontrollingInterestsCurrent_lbl2" xml:lang="en-US">Put Options Of Noncontrolling Interests Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_PutOptionsOfNoncontrollingInterestsCurrent" xlink:to="mgic_PutOptionsOfNoncontrollingInterestsCurrent_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019_lbl0" xml:lang="en-US">Weighted average exercise price of other equity instruments exercisable in share-based payment arrangement</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfGoodwillExplanatory_lbl0" xml:lang="en-US">Disclosure of goodwill [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract21_lbl0" xml:lang="en-US">Unlabeled Abstract21</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_WeightedAverageRemainingLeaseTermyears_lbl0" xml:lang="en-US">Weighted Average Remaining Lease Termyears</label>
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    <loc xlink:type="locator" xlink:label="ifrs-full_DisclosureOfInformationAboutDefinedBenefitPlansAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfInformationAboutDefinedBenefitPlansAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CustomerRelationshipsNetOfDeferredTaxLiabilitys_lbl1" xml:lang="en-US">Customer Relationships Net Of Deferred Tax Liabilitys</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract37" xlink:to="mgic_UnlabeledAbstract37_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract34" xlink:to="mgic_UnlabeledAbstract34_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare_lbl0" xml:lang="en-US">Dividends recognised as distributions to owners per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare" xlink:to="ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract35_lbl0" xml:lang="en-US">Unlabeled Abstract35</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnlabeledAbstract35" xlink:to="mgic_UnlabeledAbstract35_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentPrepaidExpenses_lbl0" xml:lang="en-US">Current prepaid expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentPrepaidExpenses" xlink:to="ifrs-full_CurrentPrepaidExpenses_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostAbstract4" xlink:to="mgic_CostAbstract4_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DebtInstrumentInterestRatesStatedPercentage_lbl2" xml:lang="en-US">Debt Instrument Interest Rates Stated Percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DebtInstrumentInterestRatesStatedPercentage" xlink:to="mgic_DebtInstrumentInterestRatesStatedPercentage_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AmountsReceivableRelatedPartyTransactions_lbl0" xml:lang="en-US">Amounts receivable, related party transactions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmountsReceivableRelatedPartyTransactions" xlink:to="ifrs-full_AmountsReceivableRelatedPartyTransactions_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ConsolidatedStatementsOfComprehensiveIncomeAbstract" xlink:href="mgic-20221231.xsd#mgic_ConsolidatedStatementsOfComprehensiveIncomeAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ConsolidatedStatementsOfComprehensiveIncomeAbstract_lbl" xml:lang="en-US">Consolidated Statements Of Comprehensive Income Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ConsolidatedStatementsOfComprehensiveIncomeAbstract" xlink:to="mgic_ConsolidatedStatementsOfComprehensiveIncomeAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DepreciationRightofuseAssets_lbl0" xml:lang="en-US">Depreciation, right-of-use assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationRightofuseAssets" xlink:to="ifrs-full_DepreciationRightofuseAssets_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfShareBasedPaymentExpenseRelatedToEmployeeStockOptionAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfShareBasedPaymentExpenseRelatedToEmployeeStockOptionAbstract"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfShareBasedPaymentExpenseRelatedToEmployeeStockOptionAbstract" xlink:to="mgic_ScheduleOfShareBasedPaymentExpenseRelatedToEmployeeStockOptionAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfRevenueExplanatory_lbl0" xml:lang="en-US">Disclosure of revenue [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfRevenueExplanatory" xlink:to="ifrs-full_DisclosureOfRevenueExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherFinanceIncomeCost_lbl0" xml:lang="en-US">Other finance income (cost)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherFinanceIncomeCost" xlink:to="ifrs-full_OtherFinanceIncomeCost_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentLeaseLiabilities_lbl1" xml:lang="en-US">Current lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLeaseLiabilities" xlink:to="ifrs-full_CurrentLeaseLiabilities_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentAssetsAbstract_lbl0" xml:lang="en-US">Non-current assets [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssetsAbstract" xlink:to="ifrs-full_NoncurrentAssetsAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp_lbl0" xml:lang="en-US">Accumulated Depreciation Adjustments Arising From Translating Financial Statements Of Foreign Op</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp" xlink:to="mgic_AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfDeferredRevenuesFromContractsWithCustomersTableTextBlock_lbl0" xml:lang="en-US">Schedule Of Deferred Revenues From Contracts With Customers Table Text Block</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents_lbl0" xml:lang="en-US">Description of accounting policy for determining components of cash and cash equivalents [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SharesPercentage_lbl1" xml:lang="en-US">Shares Percentage</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeAbstract" xlink:to="ifrs-full_OtherComprehensiveIncomeAbstract_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentFinancialAssetsAtAmortisedCost" xlink:to="ifrs-full_NoncurrentFinancialAssetsAtAmortisedCost_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnlabeledAbstract11_lbl0" xml:lang="en-US">Unlabeled Abstract11</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ThreePointEightOneMember_lbl0" xml:lang="en-US">Three Point Eight One Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersExplanatory_lbl0" xml:lang="en-US">Disclosure of disaggregation of revenue from contracts with customers [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations_lbl0" xml:lang="en-US">Cost Adjustments Arising From Translating Financial Statements Of Foreign Operations</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CustomersRelationshipMember_lbl0" xml:lang="en-US">Customers Relationship Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CustomersRelationshipMember" xlink:to="mgic_CustomersRelationshipMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions_lbl2" xml:lang="en-US">Increase In Valuation Of Consideration Related To Acquisitions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions" xlink:to="mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_WeightedAverageCostOfCapitals_lbl1" xml:lang="en-US">Weighted Average Cost Of Capitals</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageCostOfCapitals" xlink:to="mgic_WeightedAverageCostOfCapitals_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsMaterialToEntityExplanatory_lbl0" xml:lang="en-US">Disclosure of intangible assets material to entity [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIntangibleAssetsMaterialToEntityExplanatory" xlink:to="ifrs-full_DisclosureOfIntangibleAssetsMaterialToEntityExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019_lbl0" xml:lang="en-US">Weighted average exercise price of share options forfeited in share-based payment arrangement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DescriptionOfExercisePriceRange_lbl1" xml:lang="en-US">Description Of Exercise Price Range</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DescriptionOfExercisePriceRange" xlink:to="mgic_DescriptionOfExercisePriceRange_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AccumulatedDepreciationAbstract2_lbl0" xml:lang="en-US">Accumulated Depreciation Abstract2</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedDepreciationAbstract2" xlink:to="mgic_AccumulatedDepreciationAbstract2_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TaxRateEffectFromChangeInTaxRate_lbl0" xml:lang="en-US">Tax rate effect from change in tax rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxRateEffectFromChangeInTaxRate" xlink:to="ifrs-full_TaxRateEffectFromChangeInTaxRate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LongTermAssetsAbstract_lbl0" xml:lang="en-US">Long Term Assets Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LongTermAssetsAbstract" xlink:to="mgic_LongTermAssetsAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AccumulatedAmortizationAndImpairmentAbstract_lbl0" xml:lang="en-US">Accumulated Amortization And Impairment Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedAmortizationAndImpairmentAbstract" xlink:to="mgic_AccumulatedAmortizationAndImpairmentAbstract_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfQuantitativeInformationAboutRightOfUseAssetsAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfQuantitativeInformationAboutRightOfUseAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfQuantitativeInformationAboutRightOfUseAssetsAbstract_lbl" xml:lang="en-US">Schedule Of Quantitative Information About Right Of Use Assets Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfQuantitativeInformationAboutRightOfUseAssetsAbstract" xlink:to="mgic_ScheduleOfQuantitativeInformationAboutRightOfUseAssetsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfConsolidatedStatementOfProfitOrLossAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfConsolidatedStatementOfProfitOrLossAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfConsolidatedStatementOfProfitOrLossAbstract_lbl" xml:lang="en-US">Schedule Of Consolidated Statement Of Profit Or Loss Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfConsolidatedStatementOfProfitOrLossAbstract" xlink:to="mgic_ScheduleOfConsolidatedStatementOfProfitOrLossAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsAndGoodwillExplanatory_lbl0" xml:lang="en-US">Disclosure of intangible assets and goodwill [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIntangibleAssetsAndGoodwillExplanatory" xlink:to="ifrs-full_DisclosureOfIntangibleAssetsAndGoodwillExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AcquisitionsOfSubsidiaries_lbl1" xml:lang="en-US">Acquisitions Of Subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquisitionsOfSubsidiaries" xlink:to="mgic_AcquisitionsOfSubsidiaries_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressPostalZipCode_lbl0" xml:lang="en-US">Entity Address, Postal Zip Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfShortTermDebtsExplanatory_lbl1" xml:lang="en-US">Schedule Of Short Term Debts Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfShortTermDebtsExplanatory" xlink:to="mgic_ScheduleOfShortTermDebtsExplanatory_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BasicEarningsLossPerShare_lbl1" xml:lang="en-US">Basic earnings (loss) per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BasicEarningsLossPerShare" xlink:to="ifrs-full_BasicEarningsLossPerShare_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents_lbl1" xml:lang="en-US">Short-term investments, classified as cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:to="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdditionalPaidinCapitalMember_lbl1" xml:lang="en-US">Additional paid-in capital [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionalPaidinCapitalMember" xlink:to="ifrs-full_AdditionalPaidinCapitalMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AssetsAbstract_lbl0" xml:lang="en-US">Assets [abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AssetsAbstract" xlink:to="ifrs-full_AssetsAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_MenarvaLtdMember_lbl0" xml:lang="en-US">Menarva Ltd Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_MenarvaLtdMember" xlink:to="mgic_MenarvaLtdMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RightofuseAssetsIncreaseDecreaseInRevaluationSurplus_lbl0" xml:lang="en-US">Right-of-use assets, increase (decrease) in revaluation surplus</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RightofuseAssetsIncreaseDecreaseInRevaluationSurplus" xlink:to="ifrs-full_RightofuseAssetsIncreaseDecreaseInRevaluationSurplus_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LongTermLiabilitiesAbstract0_lbl0" xml:lang="en-US">Long Term Liabilities Abstract0</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LongTermLiabilitiesAbstract0" xlink:to="mgic_LongTermLiabilitiesAbstract0_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_RemainingOptionInterestPecentage_lbl1" xml:lang="en-US">Remaining Option Interest Pecentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RemainingOptionInterestPecentage" xlink:to="mgic_RemainingOptionInterestPecentage_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AccumulatedDepreciationAbstract1_lbl0" xml:lang="en-US">Accumulated Depreciation Abstract1</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedDepreciationAbstract1" xlink:to="mgic_AccumulatedDepreciationAbstract1_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AccumulatedDepreciationAbstract0_lbl0" xml:lang="en-US">Accumulated Depreciation Abstract0</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedDepreciationAbstract0" xlink:to="mgic_AccumulatedDepreciationAbstract0_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities_lbl0" xml:lang="en-US">Expense relating to variable lease payments not included in measurement of lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities" xlink:to="ifrs-full_ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfLonglivedAssetsExplanatory_lbl0" xml:lang="en-US">Schedule Of Longlived Assets Explanatory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfLonglivedAssetsExplanatory" xlink:to="mgic_ScheduleOfLonglivedAssetsExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember_lbl0" xml:lang="en-US">Later than three years and not later than four years [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:to="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LeasesExtendToAdditionalYears_lbl0" xml:lang="en-US">Leases Extend To Additional Years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeasesExtendToAdditionalYears" xlink:to="mgic_LeasesExtendToAdditionalYears_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019_lbl0" xml:lang="en-US">Weighted average exercise price of share options exercised in share-based payment arrangement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UnpaidDeferredRevenuesMember_lbl0" xml:lang="en-US">Unpaid Deferred Revenues Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UnpaidDeferredRevenuesMember" xlink:to="mgic_UnpaidDeferredRevenuesMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentAssets_lbl0" xml:lang="en-US">Current assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssets" xlink:to="ifrs-full_CurrentAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssetsAtAmortisedCost_lbl0" xml:lang="en-US">Financial assets at amortised cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsAtAmortisedCost" xlink:to="ifrs-full_FinancialAssetsAtAmortisedCost_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfAssessmentForGoodwillImpairmentAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfAssessmentForGoodwillImpairmentAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfAssessmentForGoodwillImpairmentAbstract_lbl" xml:lang="en-US">Schedule Of Assessment For Goodwill Impairment Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate_lbl1" xml:lang="en-US">Current assets recognised as of acquisition date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate_lbl1"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ScheduleOfCondensedBalanceSheetTableTextBlock" xlink:to="srt_ScheduleOfCondensedBalanceSheetTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_EstimatedFutureAmortizationExpensesOne_lbl1" xml:lang="en-US">Estimated Future Amortization Expenses One</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncontrollingInterests_lbl0" xml:lang="en-US">Non-controlling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncontrollingInterests" xlink:to="ifrs-full_NoncontrollingInterests_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_WeightedAverageDiscountRate_lbl0" xml:lang="en-US">Weighted Average Discount Rate</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AmortisationExpense_lbl0" xml:lang="en-US">Amortisation expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmortisationExpense" xlink:to="ifrs-full_AmortisationExpense_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_UncertainTaxPositionsAndOther_lbl1" xml:lang="en-US">Uncertain Tax Positions And Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_UncertainTaxPositionsAndOther" xlink:to="mgic_UncertainTaxPositionsAndOther_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_UnallocatedGoodwill_lbl0" xml:lang="en-US">Unallocated goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_UnallocatedGoodwill" xlink:to="ifrs-full_UnallocatedGoodwill_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_FormulaTelecomSolutionsLtdMember_lbl0" xml:lang="en-US">Formula Telecom Solutions Ltd Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FormulaTelecomSolutionsLtdMember" xlink:to="mgic_FormulaTelecomSolutionsLtdMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_TradingSymbol_lbl0" xml:lang="en-US">Trading Symbol</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AnnualCompensationPercentage_lbl1" xml:lang="en-US">Annual Compensation Percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AnnualCompensationPercentage" xlink:to="mgic_AnnualCompensationPercentage_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CapitalizationOfSoftwareDevelopmentOne_lbl1" xml:lang="en-US">Capitalization Of Software Development One</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CapitalizationOfSoftwareDevelopmentOne" xlink:to="mgic_CapitalizationOfSoftwareDevelopmentOne_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfIncomeTaxExplanatory_lbl0" xml:lang="en-US">Disclosure of income tax [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:to="ifrs-full_DisclosureOfIncomeTaxExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ConsiderationPaidReceived_lbl0" xml:lang="en-US">Consideration paid (received)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ConsiderationPaidReceived" xlink:to="ifrs-full_ConsiderationPaidReceived_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_EuropeMember_lbl0" xml:lang="en-US">Europe [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_EuropeMember" xlink:to="srt_EuropeMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl0" xml:lang="en-US">Document Period End Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TopOfRangeMember_lbl1" xml:lang="en-US">Top of range [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TopOfRangeMember" xlink:to="ifrs-full_TopOfRangeMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember_lbl0" xml:lang="en-US">Later than four years and not later than five years [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DividendToMagicsShareholders1_lbl1" xml:lang="en-US">Dividend To Magics Shareholders1</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DividendToMagicsShareholders1" xlink:to="mgic_DividendToMagicsShareholders1_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfAnnualRatesOfDepreciationTextBlock_lbl1" xml:lang="en-US">Schedule Of Annual Rates Of Depreciation Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfAnnualRatesOfDepreciationTextBlock" xlink:to="mgic_ScheduleOfAnnualRatesOfDepreciationTextBlock_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfFinancialAssetsAndLiabilitiesMeasuredAtFairValueOnARecurringBasisTableTextBlock_lbl0" xml:lang="en-US">Schedule Of Financial Assets And Liabilities Measured At Fair Value On ARecurring Basis Table Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfFinancialAssetsAndLiabilitiesMeasuredAtFairValueOnARecurringBasisTableTextBlock" xlink:to="mgic_ScheduleOfFinancialAssetsAndLiabilitiesMeasuredAtFairValueOnARecurringBasisTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CommITSolutions2022PlanMember_lbl0" xml:lang="en-US">Comm ITSolutions2022 Plan Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CommITSolutions2022PlanMember" xlink:to="mgic_CommITSolutions2022PlanMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfFinanceIncomeCostTextBlockAbstract" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfFinanceIncomeCostTextBlockAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisclosureOfFinanceIncomeCostTextBlockAbstract_lbl" xml:lang="en-US">Disclosure Of Finance Income Cost Text Block Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfFinanceIncomeCostTextBlockAbstract" xlink:to="mgic_DisclosureOfFinanceIncomeCostTextBlockAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfReportedSegmentResultsOfOperationAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfReportedSegmentResultsOfOperationAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfReportedSegmentResultsOfOperationAbstract_lbl" xml:lang="en-US">Schedule Of Reported Segment Results Of Operation Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfReportedSegmentResultsOfOperationAbstract" xlink:to="mgic_ScheduleOfReportedSegmentResultsOfOperationAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CashPaidDueToExerciseOfPutOptionByNoncontrollingInterests_lbl1" xml:lang="en-US">Cash Paid Due To Exercise Of Put Option By Noncontrolling Interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashPaidDueToExerciseOfPutOptionByNoncontrollingInterests" xlink:to="mgic_CashPaidDueToExerciseOfPutOptionByNoncontrollingInterests_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseInContingentConsiderationAssetLiability_lbl0" xml:lang="en-US">Increase (decrease) in contingent consideration asset (liability)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInContingentConsiderationAssetLiability" xlink:to="ifrs-full_IncreaseDecreaseInContingentConsiderationAssetLiability_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RetainedEarningsMember_lbl1" xml:lang="en-US">Retained earnings [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RetainedEarningsMember" xlink:to="ifrs-full_RetainedEarningsMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_RedeemableNoncontrollingInterests_lbl1" xml:lang="en-US">Redeemable Noncontrolling Interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RedeemableNoncontrollingInterests" xlink:to="mgic_RedeemableNoncontrollingInterests_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfSellingAndMarketingExpensesTableTextBlock_lbl0" xml:lang="en-US">Schedule Of Selling And Marketing Expenses Table Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfSellingAndMarketingExpensesTableTextBlock" xlink:to="mgic_ScheduleOfSellingAndMarketingExpensesTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SellingAndMarketingExpensesMember_lbl0" xml:lang="en-US">Selling And Marketing Expenses Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SellingAndMarketingExpensesMember" xlink:to="mgic_SellingAndMarketingExpensesMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CustomerRelationshipsNetOfDeferredTaxLiabilities_lbl1" xml:lang="en-US">Customer Relationships Net Of Deferred Tax Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CustomerRelationshipsNetOfDeferredTaxLiabilities" xlink:to="mgic_CustomerRelationshipsNetOfDeferredTaxLiabilities_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_BankLoansMember_lbl0" xml:lang="en-US">Bank Loans Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_BankLoansMember" xlink:to="mgic_BankLoansMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComputerSoftwareMember_lbl2" xml:lang="en-US">Computer software [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComputerSoftwareMember" xlink:to="ifrs-full_ComputerSoftwareMember_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LoansFromBankAndFinancialInstitutions_lbl0" xml:lang="en-US">Loans From Bank And Financial Institutions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LoansFromBankAndFinancialInstitutions" xlink:to="mgic_LoansFromBankAndFinancialInstitutions_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AdditionsDuringTheYearAbstract_lbl0" xml:lang="en-US">Additions During The Year Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AdditionsDuringTheYearAbstract" xlink:to="mgic_AdditionsDuringTheYearAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentAnnualReport_lbl0" xml:lang="en-US">Document Annual Report</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentAnnualReport" xlink:to="dei_DocumentAnnualReport_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_NetOperatingLossesCarriedForward_lbl1" xml:lang="en-US">Net Operating Losses Carried Forward</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_NetOperatingLossesCarriedForward" xlink:to="mgic_NetOperatingLossesCarriedForward_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AggregateOrdinarySharesAvailableForFutureGrants_lbl1" xml:lang="en-US">Aggregate Ordinary Shares Available For Future Grants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AggregateOrdinarySharesAvailableForFutureGrants" xlink:to="mgic_AggregateOrdinarySharesAvailableForFutureGrants_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="country_GB_lbl0" xml:lang="en-US">UNITED KINGDOM</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_GB" xlink:to="country_GB_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill_lbl0" xml:lang="en-US">Impairment loss recognised in profit or loss, goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:to="ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherCashReceiptsFromSalesOfEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities_lbl0" xml:lang="en-US">Other cash receipts from sales of equity or debt instruments of other entities, classified as investing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCashReceiptsFromSalesOfEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities" xlink:to="ifrs-full_OtherCashReceiptsFromSalesOfEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpenseMember_lbl0" xml:lang="en-US">Selling, general and administrative expense [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SellingGeneralAndAdministrativeExpenseMember" xlink:to="ifrs-full_SellingGeneralAndAdministrativeExpenseMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCityOrTown_lbl0" xml:lang="en-US">Entity Address, City or Town</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DepositsFromBanks_lbl0" xml:lang="en-US">Deposits from banks</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepositsFromBanks" xlink:to="ifrs-full_DepositsFromBanks_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionsAndBanksMember_lbl0" xml:lang="en-US">Current Maturities Of Longterm Loans From Financial Institutions And Banks Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionsAndBanksMember" xlink:to="mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionsAndBanksMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncome_lbl1" xml:lang="en-US">Accumulated other comprehensive income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedOtherComprehensiveIncome" xlink:to="ifrs-full_AccumulatedOtherComprehensiveIncome_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanFiveYearsMember_lbl0" xml:lang="en-US">Later than five years [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanFiveYearsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_FinancialDebtsNotExceedPercentage_lbl1" xml:lang="en-US">Financial Debts Not Exceed Percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FinancialDebtsNotExceedPercentage" xlink:to="mgic_FinancialDebtsNotExceedPercentage_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_YGSoftITLtdMember_lbl0" xml:lang="en-US">YGSoft ITLtd Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_YGSoftITLtdMember" xlink:to="mgic_YGSoftITLtdMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AppendixAAbstract_lbl0" xml:lang="en-US">Appendix AAbstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AppendixAAbstract" xlink:to="mgic_AppendixAAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory_lbl0" xml:lang="en-US">Description of accounting policy for trade and other payables [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityVoluntaryFilers_lbl0" xml:lang="en-US">Entity Voluntary Filers</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityVoluntaryFilers" xlink:to="dei_EntityVoluntaryFilers_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFilerCategory_lbl0" xml:lang="en-US">Entity Filer Category</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentFinancialAssetsAtAmortisedCost_lbl0" xml:lang="en-US">Current financial assets at amortised cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentFinancialAssetsAtAmortisedCost" xlink:to="ifrs-full_CurrentFinancialAssetsAtAmortisedCost_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfTheCompositionAndMovementAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfTheCompositionAndMovementAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfTheCompositionAndMovementAbstract_lbl" xml:lang="en-US">Schedule Of The Composition And Movement Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfTheCompositionAndMovementAbstract" xlink:to="mgic_ScheduleOfTheCompositionAndMovementAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent_lbl1" xml:lang="en-US">Liability In Respect Of Business Combinations Noncurrent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent" xlink:to="mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WagesAndSalaries_lbl0" xml:lang="en-US">Wages and salaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WagesAndSalaries" xlink:to="ifrs-full_WagesAndSalaries_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_GoodkindGroupLLCMember_lbl0" xml:lang="en-US">Goodkind Group LLCMember</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_GoodkindGroupLLCMember" xlink:to="mgic_GoodkindGroupLLCMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_TotalIntrinsicValueOfOptionsExercised_lbl1" xml:lang="en-US">Total Intrinsic Value Of Options Exercised</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TotalIntrinsicValueOfOptionsExercised" xlink:to="mgic_TotalIntrinsicValueOfOptionsExercised_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OrdinarySharesSharesOutstanding_lbl1" xml:lang="en-US">Ordinary Shares Shares Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OrdinarySharesSharesOutstanding" xlink:to="mgic_OrdinarySharesSharesOutstanding_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl0" xml:lang="en-US">Tax expense (income)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:to="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ShareCapitalAbstract_lbl0" xml:lang="en-US">Share Capital Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ShareCapitalAbstract" xlink:to="mgic_ShareCapitalAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory_lbl0" xml:lang="en-US">Disclosure of detailed information about property, plant and equipment [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory_lbl0"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TradeReceivables_lbl0" xml:lang="en-US">Trade receivables</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory_lbl0" xml:lang="en-US">Disclosure of general information about financial statements [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageShares_lbl0" xml:lang="en-US">Weighted average number of ordinary shares used in calculating basic earnings per share</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax_lbl0" xml:lang="en-US">Gains (losses) on exchange differences on translation of foreign operations, before tax</label>
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    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfShareBasedPaymentArrangementsTextBlockAbstract" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfShareBasedPaymentArrangementsTextBlockAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssets_lbl0" xml:lang="en-US">Financial assets</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RevenueFromRenderingOfInformationTechnologyConsultingServices_lbl0" xml:lang="en-US">Revenue from rendering of information technology consulting services</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome_lbl0" xml:lang="en-US">Other tax effects for reconciliation between accounting profit and tax expense (income)</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DescriptionOfAdvertisingExpensesTextBlock_lbl1" xml:lang="en-US">Description Of Advertising Expenses Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DescriptionOfAdvertisingExpensesTextBlock" xlink:to="mgic_DescriptionOfAdvertisingExpensesTextBlock_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_IncreaseDecreaseAccruedExpensesAndOtherAccountsPayable_lbl0" xml:lang="en-US">Increase Decrease Accrued Expenses And Other Accounts Payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_IncreaseDecreaseAccruedExpensesAndOtherAccountsPayable" xlink:to="mgic_IncreaseDecreaseAccruedExpensesAndOtherAccountsPayable_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill_lbl0" xml:lang="en-US">Intangible assets and goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsAndGoodwill" xlink:to="ifrs-full_IntangibleAssetsAndGoodwill_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AccumulatedTaxExemptEarnings_lbl1" xml:lang="en-US">Accumulated Tax Exempt Earnings</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentTransitionReport_lbl0" xml:lang="en-US">Document Transition Report</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CommitmentsAndContingencies1_lbl1" xml:lang="en-US">Commitments And Contingencies1</label>
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    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfReservesWithinEquityTextBlockAbstract" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfReservesWithinEquityTextBlockAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisclosureOfReservesWithinEquityTextBlockAbstract_lbl" xml:lang="en-US">Disclosure Of Reserves Within Equity Text Block Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfReservesWithinEquityTextBlockAbstract" xlink:to="mgic_DisclosureOfReservesWithinEquityTextBlockAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfCarryingAmountOfGoodwillAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfCarryingAmountOfGoodwillAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfCarryingAmountOfGoodwillAbstract_lbl" xml:lang="en-US">Schedule Of Carrying Amount Of Goodwill Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_StockOptionPlansOfTheCompanyMember_lbl0" xml:lang="en-US">Stock Option Plans Of The Company Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AggregateAmount_lbl1" xml:lang="en-US">Aggregate Amount</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CostAtBeginnings_lbl2" xml:lang="en-US">Cost At Beginnings</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GovernmentGrants_lbl0" xml:lang="en-US">Government grants</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PlanAssetsAtFairValue_lbl0" xml:lang="en-US">Plan assets, at fair value</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityShellCompany_lbl0" xml:lang="en-US">Entity Shell Company</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionAndCarryingAmountOfIntangibleAssetsWithIndefiniteUsefulLife_lbl0" xml:lang="en-US">Description of intangible assets with indefinite useful life supporting assessment of indefinite useful life</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LeaseOptionToTerminate_lbl1" xml:lang="en-US">Lease Option To Terminate</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory_lbl0" xml:lang="en-US">Description of accounting policy for financial instruments [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_WeightedAverageRemainingContractualTermExercisable_lbl1" xml:lang="en-US">Weighted Average Remaining Contractual Term Exercisable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageRemainingContractualTermExercisable" xlink:to="mgic_WeightedAverageRemainingContractualTermExercisable_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod_lbl0" xml:lang="en-US">Adjustments for current tax of prior periods</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract_lbl0" xml:lang="en-US">Adjustments To Reconcile Net Income To Net Cash Provided By Operating Activities Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_GoodwillandOtherIntangibleAssetCost_lbl2" xml:lang="en-US">Goodwilland Other Intangible Asset Cost</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed_lbl0" xml:lang="en-US">Reverse repurchase agreements and cash collateral on securities borrowed</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed" xlink:to="ifrs-full_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RightofuseAssets_lbl0" xml:lang="en-US">Right-of-use assets</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CurrentLiabilitiesAbstract0_lbl0" xml:lang="en-US">Current Liabilities Abstract0</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfLeaseInformationExplanatory_lbl1" xml:lang="en-US">Schedule Of Lease Information Explanatory</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory_lbl0" xml:lang="en-US">Description of accounting policy for impairment of non-financial assets [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfRelatedPartyExplanatory_lbl0" xml:lang="en-US">Disclosure of related party [text block]</label>
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    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfResearchAndDevelopmentCostsNetAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfResearchAndDevelopmentCostsNetAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl0" xml:lang="en-US">Purchase of property, plant and equipment, classified as investing activities</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OfficeFurnitureAndEquipmentMember_lbl0" xml:lang="en-US">Office Furniture And Equipment Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted_lbl0" xml:lang="en-US">Risk free interest rate, share options granted</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DepreciationAndAmortisationExpense_lbl0" xml:lang="en-US">Depreciation and amortisation expense</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_EnableITLLCMember_lbl0" xml:lang="en-US">Enable ITLLCMember</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_NeitherPastDueNorImpairedMember_lbl0" xml:lang="en-US">Neither Past Due Nor Impaired Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_NetAssetsExcludingAcquiredCash_lbl1" xml:lang="en-US">Net Assets Excluding Acquired Cash</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_a2021Abstract_lbl0" xml:lang="en-US">a2021 Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl0" xml:lang="en-US">Entity Central Index Key</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_RedeemableNoncontrollingInterest_lbl1" xml:lang="en-US">Redeemable Noncontrolling Interest</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_lbl0" xml:lang="en-US">Payments of lease liabilities, classified as financing activities</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ShorttermEmployeeBenefitsAccruals_lbl0" xml:lang="en-US">Short-term employee benefits accruals</label>
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    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfIntangibleAssetsWithIndefiniteUsefulLifeAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfIntangibleAssetsWithIndefiniteUsefulLifeAbstract"/>
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    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfFinancialAssetsAndLiabilitiesMeasuredAtFairValueOnARecurringBasisAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfFinancialAssetsAndLiabilitiesMeasuredAtFairValueOnARecurringBasisAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment_lbl0" xml:lang="en-US">Key management personnel compensation, share-based payment</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_TransitionToIFRS_lbl1" xml:lang="en-US">Transition To IFRS</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ProductsAndServicesTransferredOverTime_lbl1" xml:lang="en-US">Products And Services Transferred Over Time</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisclosureOfAOtherAccountsReceivableAndPrepaidExpensesTableTexBlock_lbl1" xml:lang="en-US">Disclosure Of AOther Accounts Receivable And Prepaid Expenses Table Tex Block</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SupplementalDisclosureOfCashFlowActivitiesAbstract_lbl0" xml:lang="en-US">Supplemental Disclosure Of Cash Flow Activities Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CustomerRelationship_lbl1" xml:lang="en-US">Customer Relationship</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_TwoThousandSevenPlanMember_lbl1" xml:lang="en-US">Two Thousand Seven Plan Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExpectedDividendShareOptionsGranted_lbl0" xml:lang="en-US">Expected dividend, share options granted</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SettlementOfLiabilitiesByEntityOnBehalfOfRelatedPartyRelatedPartyTransactions_lbl0" xml:lang="en-US">Settlement of liabilities by entity on behalf of related party, related party transactions</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CostOfSharebasedPaymentMember_lbl0" xml:lang="en-US">Cost Of Sharebased Payment Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SalesAndMarketingExpense_lbl2" xml:lang="en-US">Sales and marketing expense</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfFairValueMeasurementExplanatory_lbl0" xml:lang="en-US">Disclosure of fair value measurement [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory_lbl0" xml:lang="en-US">Description of accounting policy for functional currency [text block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TradeAndOtherPayablesToTradeSuppliers_lbl0" xml:lang="en-US">Trade payables</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfOutstandingShareOptions_lbl1" xml:lang="en-US">Number of share options outstanding in share-based payment arrangement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfOutstandingShareOptions" xlink:to="ifrs-full_NumberOfOutstandingShareOptions_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_FinancialAssetsAbstract_lbl0" xml:lang="en-US">Financial Assets Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FinancialAssetsAbstract" xlink:to="mgic_FinancialAssetsAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ClosingPayment_lbl1" xml:lang="en-US">Closing Payment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ClosingPayment" xlink:to="mgic_ClosingPayment_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_IcfrAuditorAttestationFlag_lbl0" xml:lang="en-US">ICFR Auditor Attestation Flag</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_IcfrAuditorAttestationFlag" xlink:to="dei_IcfrAuditorAttestationFlag_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ResearchAndDevelopmentCostsNetTableTextBlock_lbl1" xml:lang="en-US">Research And Development Costs Net Table Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ResearchAndDevelopmentCostsNetTableTextBlock" xlink:to="mgic_ResearchAndDevelopmentCostsNetTableTextBlock_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CustomerRelationshipMember_lbl0" xml:lang="en-US">Customer Relationship Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CustomerRelationshipMember" xlink:to="mgic_CustomerRelationshipMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DerivativeCurrenciesBought_lbl2" xml:lang="en-US">Derivative Currencies Bought</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DerivativeCurrenciesBought" xlink:to="mgic_DerivativeCurrenciesBought_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory_lbl0" xml:lang="en-US">Disclosure of indirect measurement of fair value of goods or services received, share options granted during period [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory" xlink:to="ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_WeightedAverageRemainingContractualTermOutstandingEnding_lbl1" xml:lang="en-US">Weighted Average Remaining Contractual Term Outstanding Ending</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_WeightedAverageRemainingContractualTermOutstandingEnding" xlink:to="mgic_WeightedAverageRemainingContractualTermOutstandingEnding_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DescriptionOfShortTermBankDepositsTextBlock_lbl1" xml:lang="en-US">Description Of Short Term Bank Deposits Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DescriptionOfShortTermBankDepositsTextBlock" xlink:to="mgic_DescriptionOfShortTermBankDepositsTextBlock_lbl1"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfOtherAccountsReceivableAndPrepaidExpensesAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfOtherAccountsReceivableAndPrepaidExpensesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfOtherAccountsReceivableAndPrepaidExpensesAbstract_lbl" xml:lang="en-US">Schedule Of Other Accounts Receivable And Prepaid Expenses Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfOtherAccountsReceivableAndPrepaidExpensesAbstract" xlink:to="mgic_ScheduleOfOtherAccountsReceivableAndPrepaidExpensesAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_lbl0" xml:lang="en-US">Effect of exchange rate changes on cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:to="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AccumulatedDepreciationDepreciatedCostsBeginning_lbl0" xml:lang="en-US">Accumulated Depreciation Depreciated Costs Beginning</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AccumulatedDepreciationDepreciatedCostsBeginning" xlink:to="mgic_AccumulatedDepreciationDepreciatedCostsBeginning_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_softwareMember_lbl0" xml:lang="en-US">software Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_softwareMember" xlink:to="mgic_softwareMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital_lbl0" xml:lang="en-US">Adjustments to reconcile profit (loss) other than changes in working capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital" xlink:to="ifrs-full_AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialLiabilities_lbl0" xml:lang="en-US">Financial liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilities" xlink:to="ifrs-full_FinancialLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_RepaymentOfLongtermLoansFromBanksAndOthers_lbl1" xml:lang="en-US">Repayment Of Longterm Loans From Banks And Others</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_RepaymentOfLongtermLoansFromBanksAndOthers" xlink:to="mgic_RepaymentOfLongtermLoansFromBanksAndOthers_lbl1"/>
    <loc xlink:type="locator" xlink:label="mgic_DisclosureOfSignificantAccountingPoliciesTextBlockAbstract" xlink:href="mgic-20221231.xsd#mgic_DisclosureOfSignificantAccountingPoliciesTextBlockAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_DisclosureOfSignificantAccountingPoliciesTextBlockAbstract_lbl" xml:lang="en-US">Disclosure Of Significant Accounting Policies Text Block Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_DisclosureOfSignificantAccountingPoliciesTextBlockAbstract" xlink:to="mgic_DisclosureOfSignificantAccountingPoliciesTextBlockAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ReservesAndAllowances_lbl1" xml:lang="en-US">Reserves And Allowances</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ReservesAndAllowances" xlink:to="mgic_ReservesAndAllowances_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_InterestRate_lbl1" xml:lang="en-US">Interest Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_InterestRate" xlink:to="mgic_InterestRate_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfRedesignatedFinancialAssetsAndLiabilitiesExplanatory_lbl0" xml:lang="en-US">Disclosure of redesignated financial assets and liabilities [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfRedesignatedFinancialAssetsAndLiabilitiesExplanatory" xlink:to="ifrs-full_DisclosureOfRedesignatedFinancialAssetsAndLiabilitiesExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="country_JP_lbl1" xml:lang="en-US">JAPAN</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_JP" xlink:to="country_JP_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AnnualInstalmentsRepaid_lbl1" xml:lang="en-US">Annual Instalments Repaid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AnnualInstalmentsRepaid" xlink:to="mgic_AnnualInstalmentsRepaid_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_lbl0" xml:lang="en-US">Other comprehensive income, before tax, gains (losses) on remeasurements of defined benefit plans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:to="ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AcquisitionOfSubsidiaries_lbl1" xml:lang="en-US">Acquisition Of Subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AcquisitionOfSubsidiaries" xlink:to="mgic_AcquisitionOfSubsidiaries_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable_lbl0" xml:lang="en-US">Adjustments for increase (decrease) in trade accounts payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfMaturityDatesTableTextBlock_lbl0" xml:lang="en-US">Schedule Of Maturity Dates Table Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ScheduleOfMaturityDatesTableTextBlock" xlink:to="mgic_ScheduleOfMaturityDatesTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_EquityAbstract0_lbl0" xml:lang="en-US">Equity Abstract0</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_EquityAbstract0" xlink:to="mgic_EquityAbstract0_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_Total_lbl1" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_Total" xlink:to="mgic_Total_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SharePurchaseAgreementMember_lbl0" xml:lang="en-US">Share Purchase Agreement Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SharePurchaseAgreementMember" xlink:to="mgic_SharePurchaseAgreementMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_FirstYearCurrentMaturities_lbl1" xml:lang="en-US">First Year Current Maturities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FirstYearCurrentMaturities" xlink:to="mgic_FirstYearCurrentMaturities_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LiabilitiesAndEquityAbstract0_lbl0" xml:lang="en-US">Liabilities And Equity Abstract0</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LiabilitiesAndEquityAbstract0" xlink:to="mgic_LiabilitiesAndEquityAbstract0_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_FinancialAssetsAtCostAbstract_lbl0" xml:lang="en-US">Financial Assets At Cost Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FinancialAssetsAtCostAbstract" xlink:to="mgic_FinancialAssetsAtCostAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IssueOfEquity_lbl0" xml:lang="en-US">Issue of equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssueOfEquity" xlink:to="ifrs-full_IssueOfEquity_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory_lbl0" xml:lang="en-US">Disclosure of events after reporting period [text block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:to="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfSharesIssuedAndFullyPaid_lbl0" xml:lang="en-US">Number of shares issued and fully paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesIssuedAndFullyPaid" xlink:to="ifrs-full_NumberOfSharesIssuedAndFullyPaid_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CostOfConsultingServices_lbl1" xml:lang="en-US">Cost Of Consulting Services</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CostOfConsultingServices" xlink:to="mgic_CostOfConsultingServices_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetAssetsLiabilities_lbl0" xml:lang="en-US">Assets (liabilities)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetAssetsLiabilities" xlink:to="ifrs-full_NetAssetsLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent_lbl1" xml:lang="en-US">Equity attributable to owners of parent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAttributableToOwnersOfParent" xlink:to="ifrs-full_EquityAttributableToOwnersOfParent_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_OrdinarySharesSharesAuthorized_lbl1" xml:lang="en-US">Ordinary Shares Shares Authorized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_OrdinarySharesSharesAuthorized" xlink:to="mgic_OrdinarySharesSharesAuthorized_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxLiabilityAsset_lbl0" xml:lang="en-US">Deferred tax liability (asset)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilityAsset" xlink:to="ifrs-full_DeferredTaxLiabilityAsset_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AmountsPayableRelatedPartyTransactions_lbl0" xml:lang="en-US">Amounts payable, related party transactions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmountsPayableRelatedPartyTransactions" xlink:to="ifrs-full_AmountsPayableRelatedPartyTransactions_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCurrentReportingStatus_lbl0" xml:lang="en-US">Entity Current Reporting Status</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IssuedCapitalMember_lbl1" xml:lang="en-US">Issued capital [member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssuedCapitalMember" xlink:to="ifrs-full_IssuedCapitalMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_SPTEMember_lbl0" xml:lang="en-US">SPTEMember</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_SPTEMember" xlink:to="mgic_SPTEMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_FourthYear_lbl1" xml:lang="en-US">Fourth Year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_FourthYear" xlink:to="mgic_FourthYear_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_AppendixCAbstract_lbl0" xml:lang="en-US">Appendix CAbstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_AppendixCAbstract" xlink:to="mgic_AppendixCAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ZeroMember_lbl0" xml:lang="en-US">Zero Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_ZeroMember" xlink:to="mgic_ZeroMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CapitalizedSoftwareDevelopmentCosts_lbl1" xml:lang="en-US">Capitalized Software Development Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CapitalizedSoftwareDevelopmentCosts" xlink:to="mgic_CapitalizedSoftwareDevelopmentCosts_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_CashConsiderationAmount_lbl1" xml:lang="en-US">Cash Consideration Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_CashConsiderationAmount" xlink:to="mgic_CashConsiderationAmount_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_LeaseAmount_lbl1" xml:lang="en-US">Lease Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_LeaseAmount" xlink:to="mgic_LeaseAmount_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_TransitionToIfrsAbstract_lbl0" xml:lang="en-US">Transition To Ifrs Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mgic_TransitionToIfrsAbstract" xlink:to="mgic_TransitionToIfrsAbstract_lbl0"/>
    <loc xlink:type="locator" xlink:label="mgic_ScheduleOfMaturityDatesAbstract" xlink:href="mgic-20221231.xsd#mgic_ScheduleOfMaturityDatesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mgic_ScheduleOfMaturityDatesAbstract_lbl" xml:lang="en-US">Schedule Of Maturity Dates Abstract</label>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>14
<FILENAME>mgic-20221231_pre.xml
<DESCRIPTION>XBRL PRESENTATION FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by CompSci Transform (tm) - http://www.compsciresources.com -->
<!-- Created: Thu May 11 19:37:27 UTC 2023 -->
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<title></title>
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<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211615909856">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Document And Entity Information<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2022 </div>
<div>shares</div>
</th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information Line Items</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">MAGIC SOFTWARE ENTERPRISES LTD<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">MGIC<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">20-F<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--12-31<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="nump">49,093,055<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000876779<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Entity Current Reporting Status</a></td>
<td class="text">Yes<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityVoluntaryFilers', window );">Entity Voluntary Filers</a></td>
<td class="text">No<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Accelerated Filer<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityWellKnownSeasonedIssuer', window );">Entity Well-known Seasoned Issuer</a></td>
<td class="text">No<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Dec. 31,  2022<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
<td class="text">2022<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
<td class="text">FY<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityShellCompany', window );">Entity Shell Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_IcfrAuditorAttestationFlag', window );">ICFR Auditor Attestation Flag</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentRegistrationStatement', window );">Document Registration Statement</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentAnnualReport', window );">Document Annual Report</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentTransitionReport', window );">Document Transition Report</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentShellCompanyReport', window );">Document Shell Company Report</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">0-19415<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">L3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">Yahadut
Canada 1 Street,<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Or Yehuda<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">6037501<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCountry', window );">Entity Address, Country</a></td>
<td class="text">IL<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Ordinary Shares, NIS 0.1 Par Value<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NASDAQ<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInteractiveDataCurrent', window );">Entity Interactive Data Current</a></td>
<td class="text">Yes<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentAccountingStandard', window );">Document Accounting Standard</a></td>
<td class="text">International Financial Reporting Standards<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AuditorFirmId', window );">Auditor Firm ID</a></td>
<td class="text">1281<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AuditorName', window );">Auditor Name</a></td>
<td class="text">KOST FORER GABBAY & KASIERER<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AuditorLocation', window );">Auditor Location</a></td>
<td class="text">Tel-Aviv, Israel<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressesAddressTypeAxis=dei_BusinessContactMember', window );">Business Contact</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information Line Items</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">Yahadut
Canada 1 Street<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Or Yehuda<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">6037501<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCountry', window );">Entity Address, Country</a></td>
<td class="text">IL<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_ContactPersonnelName', window );">Contact Personnel Name</a></td>
<td class="text">Asaf
Berenstin<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">+972 (3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">538 9243<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_ContactPersonnelEmailAddress', window );">Contact Personnel Email Address</a></td>
<td class="text">asafb@magicsoftware.com<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AuditorFirmId">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>PCAOB issued Audit Firm Identifier</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 10-K<br> -Number 249<br> -Section 310<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 40-F<br> -Number 249<br> -Section 240<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AuditorFirmId</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:nonemptySequenceNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AuditorLocation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 10-K<br> -Number 249<br> -Section 310<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 40-F<br> -Number 249<br> -Section 240<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AuditorLocation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:internationalNameItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AuditorName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 10-K<br> -Number 249<br> -Section 310<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 40-F<br> -Number 249<br> -Section 240<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AuditorName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:internationalNameItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_ContactPersonnelEmailAddress">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Email address of contact personnel.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_ContactPersonnelEmailAddress</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_ContactPersonnelName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of contact personnel</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_ContactPersonnelName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gMonthDayItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentAccountingStandard">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The basis of accounting the registrant has used to prepare the financial statements included in this filing This can either be 'U.S. GAAP', 'International Financial Reporting Standards', or 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentAccountingStandard</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:accountingStandardItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentAnnualReport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true only for a form used as an annual report.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 10-K<br> -Number 249<br> -Section 310<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 40-F<br> -Number 249<br> -Section 240<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentAnnualReport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalPeriodFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fiscal period values are FY, Q1, Q2, and Q3.  1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalPeriodFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fiscalPeriodItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalYearFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in YYYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalYearFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gYearItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentInformationLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentRegistrationStatement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true only for a form used as a registration statement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentRegistrationStatement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentShellCompanyReport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true for a Shell Company Report pursuant to section 13 or 15(d) of the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentShellCompanyReport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentTransitionReport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true only for a form used as a transition report.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Forms 10-K, 10-Q, 20-F<br> -Number 240<br> -Section 13<br> -Subsection a-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentTransitionReport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCountry">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>ISO 3166-1 alpha-2 country code.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCountry</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:countryCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:filerCategoryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityInteractiveDataCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-T<br> -Number 232<br> -Section 405<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityInteractiveDataCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityShellCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityShellCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityVoluntaryFilers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityVoluntaryFilers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityWellKnownSeasonedIssuer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 405<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityWellKnownSeasonedIssuer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_IcfrAuditorAttestationFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 10-K<br> -Number 249<br> -Section 310<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 40-F<br> -Number 249<br> -Section 240<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_IcfrAuditorAttestationFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressesAddressTypeAxis=dei_BusinessContactMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressesAddressTypeAxis=dei_BusinessContactMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>16
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211616244192">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Statements of Financial Position - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Jan. 01, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAssetsAbstract', window );"><strong>CURRENT ASSETS:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 83,062<span></span>
</td>
<td class="nump">$ 88,090<span></span>
</td>
<td class="nump">$ 88,127<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents', window );">Short-term bank deposits</a></td>
<td class="nump">3,904<span></span>
</td>
<td class="nump">5,586<span></span>
</td>
<td class="nump">289<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentReceivables', window );">Trade receivables (net of allowance for credit losses of $3,967, $5,071 and $5,416 at January 1, 2021, December 31, 2021 and 2022, respectively)</a></td>
<td class="nump">118,126<span></span>
</td>
<td class="nump">116,975<span></span>
</td>
<td class="nump">91,986<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCurrentNonfinancialAssets', window );">Unbilled receivables and contract assets</a></td>
<td class="nump">30,354<span></span>
</td>
<td class="nump">25,096<span></span>
</td>
<td class="nump">19,073<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets', window );">Other accounts receivable and prepaid expenses</a></td>
<td class="nump">13,652<span></span>
</td>
<td class="nump">11,027<span></span>
</td>
<td class="nump">11,751<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAssets', window );">Total current assets</a></td>
<td class="nump">249,098<span></span>
</td>
<td class="nump">246,774<span></span>
</td>
<td class="nump">211,226<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsAbstract', window );"><strong>LONG-TERM ASSETS:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">3,618<span></span>
</td>
<td class="nump">7,993<span></span>
</td>
<td class="nump">6,235<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use assets</a></td>
<td class="nump">27,536<span></span>
</td>
<td class="nump">23,280<span></span>
</td>
<td class="nump">23,363<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Other long-term receivables</a></td>
<td class="nump">5,795<span></span>
</td>
<td class="nump">5,165<span></span>
</td>
<td class="nump">5,507<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plants, and equipment, net</a></td>
<td class="nump">8,338<span></span>
</td>
<td class="nump">5,872<span></span>
</td>
<td class="nump">5,988<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Intangible assets, net</a></td>
<td class="nump">52,057<span></span>
</td>
<td class="nump">51,390<span></span>
</td>
<td class="nump">53,404<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="nump">158,699<span></span>
</td>
<td class="nump">146,803<span></span>
</td>
<td class="nump">135,682<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssets', window );">Total long-term assets</a></td>
<td class="nump">256,043<span></span>
</td>
<td class="nump">240,503<span></span>
</td>
<td class="nump">230,179<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="nump">505,141<span></span>
</td>
<td class="nump">487,277<span></span>
</td>
<td class="nump">441,405<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLiabilitiesAbstract', window );"><strong>CURRENT LIABILITIES:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShorttermBorrowings', window );">Short term debt</a></td>
<td class="nump">20,755<span></span>
</td>
<td class="nump">17,108<span></span>
</td>
<td class="nump">11,598<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesToTradeSuppliers', window );">Trade payables</a></td>
<td class="nump">27,598<span></span>
</td>
<td class="nump">24,711<span></span>
</td>
<td class="nump">14,250<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities', window );">Accrued expenses and other accounts payable</a></td>
<td class="nump">46,842<span></span>
</td>
<td class="nump">45,091<span></span>
</td>
<td class="nump">41,777<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current maturities of lease liabilities</a></td>
<td class="nump">4,591<span></span>
</td>
<td class="nump">3,267<span></span>
</td>
<td class="nump">3,792<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PutOptionsOfNoncontrollingInterestsCurrent', window );">Put options of non-controlling interests</a></td>
<td class="nump">27,172<span></span>
</td>
<td class="nump">23,197<span></span>
</td>
<td class="nump">14,611<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LiabilityInRespectOfBusinessCombinationsCurrent', window );">Liability in respect of business combinations</a></td>
<td class="nump">19,287<span></span>
</td>
<td class="nump">6,635<span></span>
</td>
<td class="nump">4,998<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Deferred revenues and customer advances</a></td>
<td class="nump">9,808<span></span>
</td>
<td class="nump">10,771<span></span>
</td>
<td class="nump">8,793<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLiabilities', window );">Total current liabilities</a></td>
<td class="nump">156,053<span></span>
</td>
<td class="nump">130,780<span></span>
</td>
<td class="nump">99,819<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLiabilitiesAbstract', window );"><strong>LONG-TERM LIABILITIES:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Long-term debt</a></td>
<td class="nump">30,412<span></span>
</td>
<td class="nump">20,155<span></span>
</td>
<td class="nump">13,352<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Long-term lease liabilities</a></td>
<td class="nump">24,282<span></span>
</td>
<td class="nump">21,907<span></span>
</td>
<td class="nump">21,230<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent', window );">Liability in respect of business combinations</a></td>
<td class="nump">5,376<span></span>
</td>
<td class="nump">13,892<span></span>
</td>
<td class="nump">10,926<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">10,686<span></span>
</td>
<td class="nump">17,945<span></span>
</td>
<td class="nump">17,484<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PutOptionsOfNoncontrollingInterestsNoncurrent', window );">Put options of non-controlling interests</a></td>
<td class="nump">1,120<span></span>
</td>
<td class="nump">6,137<span></span>
</td>
<td class="nump">9,315<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentLiabilities', window );">Accrued severance pay, net</a></td>
<td class="nump">901<span></span>
</td>
<td class="nump">905<span></span>
</td>
<td class="nump">872<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLiabilities', window );">Total long-term liabilities</a></td>
<td class="nump">72,777<span></span>
</td>
<td class="nump">80,941<span></span>
</td>
<td class="nump">73,179<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CommitmentsAndContingencies1', window );">COMMITMENTS AND CONTINGENCIES</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_MagicSoftwareEnterprisesLtdShareholdersEquityAbstract', window );"><strong>MAGIC SOFTWARE ENTERPRISES LTD shareholders&#8217; equity:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IssuedCapital', window );">Ordinary shares of NIS 0.1 par value - Authorized: 50,000,000 shares at January 1, 2021, December 31, 2021 and 2022; Issued and Outstanding: 49,035,055, 49,073,055 and 49,093,055 shares at January 1, December 31, 2021 and 2022, respectively</a></td>
<td class="nump">1,166<span></span>
</td>
<td class="nump">1,165<span></span>
</td>
<td class="nump">1,164<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionalPaidinCapital', window );">Additional paid-in capital</a></td>
<td class="nump">182,031<span></span>
</td>
<td class="nump">184,047<span></span>
</td>
<td class="nump">188,415<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AccumulatedOtherComprehensiveIncome', window );">Accumulated other comprehensive income (loss)</a></td>
<td class="num">(6,559)<span></span>
</td>
<td class="nump">9,264<span></span>
</td>
<td class="nump">7,437<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RetainedEarnings', window );">Retained earnings</a></td>
<td class="nump">86,289<span></span>
</td>
<td class="nump">70,660<span></span>
</td>
<td class="nump">62,673<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EquityAttributableToOwnersOfParent', window );">Total equity attributable to Magic Software Enterprises shareholders</a></td>
<td class="nump">262,927<span></span>
</td>
<td class="nump">265,136<span></span>
</td>
<td class="nump">259,689<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="nump">13,384<span></span>
</td>
<td class="nump">10,420<span></span>
</td>
<td class="nump">8,718<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Total equity</a></td>
<td class="nump">276,311<span></span>
</td>
<td class="nump">275,556<span></span>
</td>
<td class="nump">268,407<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total liabilities and equity</a></td>
<td class="nump">$ 505,141<span></span>
</td>
<td class="nump">$ 487,277<span></span>
</td>
<td class="nump">$ 441,405<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AccumulatedOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of accumulated items of income and expense (including reclassification adjustments) that are not recognised in profit or loss as required or permitted by other IFRSs. [Refer: IFRSs [member]; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AccumulatedOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionalPaidinCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount received or receivable from the issuance of the entity's shares in excess of nominal value and amounts received from other transactions involving the entity's stock or stockholders.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionalPaidinCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of a present economic resource controlled by the entity as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B13<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current accrued expenses and other current liabilities. [Refer: Accruals; Other current liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that the entity (a) expects to realise or intends to sell or consume in its normal operating cycle; (b) holds primarily for the purpose of trading; (c) expects to realise within twelve months after the reporting period; or (d) classifies as cash or cash equivalents (as defined in IAS 7) unless the asset is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. [Refer: Assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentDerivativeFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current derivative financial liabilities. [Refer: Derivative financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentDerivativeFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The amount of liabilities that: (a) the entity expects to settle in its normal operating cycle; (b) the entity holds primarily for the purpose of trading; (c) are due to be settled within twelve months after the reporting period; or (d) the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period.
Effective 2023-01-01: The amount of liabilities that: (a) the entity expects to settle in its normal operating cycle; (b) the entity holds primarily for the purpose of trading; (c) are due to be settled within twelve months after the reporting period; or (d) the entity does not have the right at the end of the reporting period to defer settlement for at least twelve months after the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_iii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 69<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_69&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current prepayments and other current assets. [Refer: Other current assets; Current prepayments]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carryforward of unused tax losses; and (c) the carryforward of unused tax credits. [Refer: Temporary differences [member]; Unused tax credits [member]; Unused tax losses [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph o<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 56<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes payable in future periods in respect of taxable temporary differences. [Refer: Temporary differences [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph o<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 56<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAndLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of the entity's equity and liabilities. [Refer: Equity; Liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAndLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of equity attributable to the owners of the parent. This specifically excludes non-controlling interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph r<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_r&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Goodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognised. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2022-03-24<br> -Paragraph 134<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_134_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2022-03-24<br> -Paragraph 135<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_135_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B67<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B67_d&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Goodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsAndGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of intangible assets and goodwill held by the entity. [Refer: Goodwill; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsAndGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IssuedCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The nominal value of capital issued.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IssuedCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The non-current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of equity in a subsidiary not attributable, directly or indirectly, to a parent. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 12<br> -Subparagraph f<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_12_f&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 10<br> -IssueDate 2022-03-24<br> -Paragraph 22<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=10&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_22&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph q<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_q&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that do not meet the definition of current assets. [Refer: Current assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_ii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that do not meet the definition of current liabilities. [Refer: Current liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_iv&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 69<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_69&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCurrentNonfinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current non-financial assets that the entity does not separately disclose in the same statement or note. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCurrentNonfinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherNoncurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current liabilities that the entity does not separately disclose in the same statement or note. [Refer: Non-current liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherNoncurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount receivable by the entity that it does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 73<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RetainedEarnings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing the entity's cumulative undistributed earnings or deficit.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph IG6<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IG6&amp;doctype=Implementation%20Guidance<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RetainedEarnings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that represent a lessee's right to use an underlying asset for the lease term. Underlying asset is an asset that is the subject of a lease, for which the right to use that asset has been provided by a lessor to a lessee.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 53<br> -Subparagraph j<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_53_j&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShorttermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShorttermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A classification of cash equivalents representing short-term investments. [Refer: Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables and current other receivables. [Refer: Current trade receivables; Other current receivables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph h<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_h&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherPayablesToTradeSuppliers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of payment due to suppliers for goods and services used in the entity's business.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherPayablesToTradeSuppliers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CommitmentsAndContingencies1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of commitments and contingencies.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CommitmentsAndContingencies1</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LiabilityInRespectOfBusinessCombinationsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liability in respect of business combinations current.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LiabilityInRespectOfBusinessCombinationsCurrent</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liability in respect of business combinations noncurrent.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_MagicSoftwareEnterprisesLtdShareholdersEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_MagicSoftwareEnterprisesLtdShareholdersEquityAbstract</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_PutOptionsOfNoncontrollingInterestsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Put options of non-controlling interests.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_PutOptionsOfNoncontrollingInterestsCurrent</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_PutOptionsOfNoncontrollingInterestsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of put options of non-controlling interests noncurrent.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_PutOptionsOfNoncontrollingInterestsNoncurrent</td>
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<td>mgic_</td>
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<td>credit</td>
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<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211615512416">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Statements of Financial Position (Parentheticals)<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>&#8362; / shares</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>&#8362; / shares</div>
</th>
<th class="th">
<div>Jan. 01, 2021 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Jan. 01, 2021 </div>
<div>&#8362; / shares</div>
</th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_StatementOfFinancialPositionAbstract', window );"><strong>Statement of financial position [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TradeReceivablesNetOfAllowance', window );">Trade receivables, net of allowance (in Dollars) | $</a></td>
<td class="nump">$ 5,416<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,071<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,967<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OrdinarySharesParValue', window );">Ordinary shares, par value (in New Shekels per share) | &#8362; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 0.1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 0.1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 0.1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OrdinarySharesSharesAuthorized', window );">Ordinary shares, shares authorized</a></td>
<td class="nump">50,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OrdinarySharesSharesIssued', window );">Ordinary shares, shares issued</a></td>
<td class="nump">49,093,055<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">49,073,055<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">49,035,055<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OrdinarySharesSharesOutstanding', window );">Ordinary shares, shares outstanding</a></td>
<td class="nump">49,093,055<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">49,073,055<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">49,035,055<span></span>
</td>
<td class="text">&#160;<span></span>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_StatementOfFinancialPositionAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_StatementOfFinancialPositionAbstract</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_OrdinarySharesParValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The value of ordinary shares, par value.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_OrdinarySharesParValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_OrdinarySharesSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of ordinary shares, shares authorized.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_OrdinarySharesSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_OrdinarySharesSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of ordinary shares issued.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_OrdinarySharesSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_OrdinarySharesSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of ordinary shares outstanding.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_OrdinarySharesSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_TradeReceivablesNetOfAllowance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of trade receivables, net of allowance.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_TradeReceivablesNetOfAllowance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211616222896">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Profit or Loss - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueAbstract', window );"><strong>Revenues:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueFromRenderingOfServices', window );">Software services</a></td>
<td class="nump">$ 32,930<span></span>
</td>
<td class="nump">$ 30,934<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueFromRenderingOfInformationTechnologyMaintenanceAndSupportServices', window );">Maintenance and technical support</a></td>
<td class="nump">34,762<span></span>
</td>
<td class="nump">36,149<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueFromRenderingOfInformationTechnologyConsultingServices', window );">Consulting services</a></td>
<td class="nump">499,100<span></span>
</td>
<td class="nump">413,242<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Total revenues</a></td>
<td class="nump">566,792<span></span>
</td>
<td class="nump">480,325<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostofRevenueAbstract', window );"><strong>Cost of revenues:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostOfSoftware', window );">Software services</a></td>
<td class="nump">10,701<span></span>
</td>
<td class="nump">12,182<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostOfMaintenanceAndTechnicalSupport', window );">Maintenance and technical support</a></td>
<td class="nump">3,494<span></span>
</td>
<td class="nump">4,144<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostOfConsultingServices', window );">Consulting services</a></td>
<td class="nump">397,242<span></span>
</td>
<td class="nump">331,005<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CostOfSales', window );">Total cost of revenues</a></td>
<td class="nump">411,437<span></span>
</td>
<td class="nump">347,331<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit</a></td>
<td class="nump">155,355<span></span>
</td>
<td class="nump">132,994<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ResearchAndDevelopmentExpense', window );">Research and development expenses, net</a></td>
<td class="nump">10,090<span></span>
</td>
<td class="nump">8,995<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SalesAndMarketingExpense', window );">Selling and marketing expenses</a></td>
<td class="nump">46,857<span></span>
</td>
<td class="nump">38,147<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeneralAndAdministrativeExpense', window );">General and administrative expenses</a></td>
<td class="nump">37,552<span></span>
</td>
<td class="nump">31,222<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CumulativeGainLossPreviouslyRecognisedInOtherComprehensiveIncomeArisingFromReclassificationOfFinancialAssetsOutOfFairValueThroughOtherComprehensiveIncomeIntoFairValueThroughProfitOrLossMeasurementCategory', window );">Change in valuation of contingent consideration related to acquisitions</a></td>
<td class="num">(906)<span></span>
</td>
<td class="nump">2,507<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Operating income</a></td>
<td class="nump">61,762<span></span>
</td>
<td class="nump">52,123<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceIncomeCost', window );">Financial expenses</a></td>
<td class="num">(4,993)<span></span>
</td>
<td class="num">(3,802)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceIncome', window );">Financial income</a></td>
<td class="nump">1,392<span></span>
</td>
<td class="nump">113<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions', window );">Increase in valuation of consideration related to acquisitions)</a></td>
<td class="num">(744)<span></span>
</td>
<td class="num">(2,817)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent', window );">Income before taxes on income</a></td>
<td class="nump">57,417<span></span>
</td>
<td class="nump">45,617<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Taxes on income</a></td>
<td class="nump">11,138<span></span>
</td>
<td class="nump">10,278<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net income</a></td>
<td class="nump">46,279<span></span>
</td>
<td class="nump">35,339<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAttributableToAbstract', window );"><strong>Attributable to:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOwnersOfParent', window );">Equity holders of the Company</a></td>
<td class="nump">40,470<span></span>
</td>
<td class="nump">29,767<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="nump">5,809<span></span>
</td>
<td class="nump">5,572<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net income</a></td>
<td class="nump">$ 46,279<span></span>
</td>
<td class="nump">$ 35,339<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_NetEarningsPerShareAttributableToEquityHoldersOfTheCompanyAbstract', window );"><strong>Net earnings per share attributable to equity holders of The Company</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BasicEarningsLossPerShare', window );">Basic and diluted earnings per share (in Dollars per share)</a></td>
<td class="nump">$ 0.82<span></span>
</td>
<td class="nump">$ 0.61<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BasicEarningsLossPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator) divided by the weighted average number of ordinary shares outstanding during the period (the denominator).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2022-03-24<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2022-03-24<br> -Paragraph 67<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_67&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BasicEarningsLossPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncomeAttributableToAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncomeAttributableToAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CostOfSales">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of all expenses directly or indirectly attributed to the goods or services sold. Attributed expenses include, but are not limited to, costs previously included in the measurement of inventory that has now been sold, such as depreciation and maintenance of factory buildings and equipment used in the production process, unallocated production overheads, and abnormal amounts of production costs of inventories.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 99<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CostOfSales</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CumulativeGainLossPreviouslyRecognisedInOtherComprehensiveIncomeArisingFromReclassificationOfFinancialAssetsOutOfFairValueThroughOtherComprehensiveIncomeIntoFairValueThroughProfitOrLossMeasurementCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cumulative gain (loss) previously recognised in other comprehensive income arising from the reclassification of financial assets out of the fair value through other comprehensive income into the fair value through profit or loss measurement category. [Refer: Financial assets measured at fair value through other comprehensive income; Financial assets at fair value through profit or loss; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph cb<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_cb&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CumulativeGainLossPreviouslyRecognisedInOtherComprehensiveIncomeArisingFromReclassificationOfFinancialAssetsOutOfFairValueThroughOtherComprehensiveIncomeIntoFairValueThroughProfitOrLossMeasurementCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income associated with interest and other financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceIncomeCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income or cost associated with interest and other financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceIncomeCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense relating to general and administrative activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GrossProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue less cost of sales. [Refer: Cost of sales; Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GrossProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income from continuing operations attributable to owners of the parent. [Refer: Continuing operations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxExpenseContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph h<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2022-03-24<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=26&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 79<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B13<br> -Subparagraph g<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherOperatingIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of operating income (expense) that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherOperatingIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 18<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2022-03-24<br> -Paragraph 39L<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=4&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2023-01-01<br> -Name IFRS<br> -Number 17<br> -IssueDate 2022-03-24<br> -Paragraph 113<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=17&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_113_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81A<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing and discontinued operations attributable to non-controlling interests. [Refer: Profit (loss); Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 12<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_12_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81B<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81B_a_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing and discontinued operations attributable to owners of the parent. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81B<br> -Subparagraph a<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81B_a_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ResearchAndDevelopmentExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expenditure directly attributable to research or development activities, recognised in profit or loss.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 126<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_126&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ResearchAndDevelopmentExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Revenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 34<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 10: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromRenderingOfInformationTechnologyConsultingServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue arising from the rendering of consulting services relating to information technology. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromRenderingOfInformationTechnologyConsultingServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromRenderingOfInformationTechnologyMaintenanceAndSupportServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue arising from the rendering of maintenance and support services relating to information technology. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromRenderingOfInformationTechnologyMaintenanceAndSupportServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromRenderingOfServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue arising from the rendering of services. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromRenderingOfServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SalesAndMarketingExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense relating to the marketing and selling of goods or services.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SalesAndMarketingExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CostOfConsultingServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cost incurred in providing environmental engineering and consulting; environmental testing and analysis; and remediation services during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CostOfConsultingServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CostOfMaintenanceAndTechnicalSupport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Maintenance costs incurred and directly related to services rendered by an entity during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CostOfMaintenanceAndTechnicalSupport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CostOfSoftware">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Costs incurred in providing technology services. The services may include training, installation, engineering or consulting. Consulting services often include implementation support, software design or development, or the customization or modification of the licensed software.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CostOfSoftware</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CostofRevenueAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CostofRevenueAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase in valuation of consideration related to acquisitions.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_NetEarningsPerShareAttributableToEquityHoldersOfTheCompanyAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_NetEarningsPerShareAttributableToEquityHoldersOfTheCompanyAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
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</DOCUMENT>
<DOCUMENT>
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<html>
<head>
<title></title>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614377344">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Profit or Loss (Parentheticals)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2021 </div>
<div>$ / shares</div>
</th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeStatementAbstract', window );"><strong>Profit or loss [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DilutedEarningsLossPerShare', window );">Diluted earnings per share (in Dollars per share)</a></td>
<td class="nump">$ 0.82<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DilutedEarningsLossPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator), divided by the weighted average number of ordinary shares outstanding during the period (the denominator), both adjusted for the effects of all dilutive potential ordinary shares. [Refer: Ordinary shares [member]; Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2022-03-24<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2022-03-24<br> -Paragraph 67<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_67&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DilutedEarningsLossPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeStatementAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeStatementAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>20
<FILENAME>R6.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211616225824">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Comprehensive Income - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ConsolidatedStatementsOfComprehensiveIncomeAbstract', window );"><strong>Consolidated Statements Of Comprehensive Income Abstract</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net income</a></td>
<td class="nump">$ 46,279<span></span>
</td>
<td class="nump">$ 35,339<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeAbstract', window );"><strong>Other comprehensive income (loss) net of tax effect:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss', window );">Foreign exchange differences on translation of foreign operations</a></td>
<td class="num">(19,099)<span></span>
</td>
<td class="nump">2,750<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncome', window );">Total other comprehensive income (loss), net of tax</a></td>
<td class="num">(19,099)<span></span>
</td>
<td class="nump">2,750<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total Comprehensive income</a></td>
<td class="nump">27,180<span></span>
</td>
<td class="nump">38,089<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAttributableToAbstract', window );"><strong>Total comprehensive income attributable to:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeAttributableToOwnersOfParent', window );">Equity holders of the Company</a></td>
<td class="nump">24,647<span></span>
</td>
<td class="nump">31,594<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="nump">2,533<span></span>
</td>
<td class="nump">6,495<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total Comprehensive income</a></td>
<td class="nump">$ 27,180<span></span>
</td>
<td class="nump">$ 38,089<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ix<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_ix&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81A<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81A_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncomeAttributableToAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncomeAttributableToAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of comprehensive income attributable to non-controlling interests. [Refer: Comprehensive income; Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81B<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81B_b_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of exchange differences recognised in profit or loss that arise from foreign currency transactions, excluding those arising on financial instruments measured at fair value through profit or loss in accordance with IFRS 9. [Refer: At fair value [member]; Financial instruments, class [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 21<br> -IssueDate 2022-03-24<br> -Paragraph 52<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=21&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_52_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 35<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income and expense (including reclassification adjustments) that is not recognised in profit or loss as required or permitted by IFRSs. [Refer: IFRSs [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause viii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_viii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81A<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81A_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 91<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income attributable to owners of the parent.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 18<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2022-03-24<br> -Paragraph 39L<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=4&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2023-01-01<br> -Name IFRS<br> -Number 17<br> -IssueDate 2022-03-24<br> -Paragraph 113<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=17&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_113_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81A<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ConsolidatedStatementsOfComprehensiveIncomeAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ConsolidatedStatementsOfComprehensiveIncomeAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211616013024">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Statements of Changes in Equity - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Share Capital</div></th>
<th class="th"><div>Additional paid-in capital</div></th>
<th class="th"><div>Retained earnings</div></th>
<th class="th"><div>Accumulated other Comprehensive Income (loss)</div></th>
<th class="th"><div>Non-controlling interests</div></th>
<th class="th"><div>Total</div></th>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance at Dec. 31, 2020</a></td>
<td class="nump">$ 1,164<span></span>
</td>
<td class="nump">$ 188,415<span></span>
</td>
<td class="nump">$ 62,673<span></span>
</td>
<td class="nump">$ 7,437<span></span>
</td>
<td class="nump">$ 8,718<span></span>
</td>
<td class="nump">$ 268,407<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Balance (in Shares) at Dec. 31, 2020</a></td>
<td class="nump">49,035,055<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net income</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">29,767<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">5,572<span></span>
</td>
<td class="nump">35,339<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncome', window );">Other comprehensive income (loss)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">1,827<span></span>
</td>
<td class="nump">923<span></span>
</td>
<td class="nump">2,750<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income (loss)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">29,767<span></span>
</td>
<td class="nump">1,827<span></span>
</td>
<td class="nump">6,495<span></span>
</td>
<td class="nump">38,089<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughExerciseOfOptions', window );">Exercise of options</a></td>
<td class="nump">$ 1<span></span>
</td>
<td class="nump">40<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">41<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ExerciseOfOptions', window );">Exercise of options (in Shares)</a></td>
<td class="nump">38,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DividendToMagicsShareholders', window );">Dividend to Magic&#8217;s shareholders</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(21,780)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(21,780)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DividendToNoncontrollingInterestsInSubsidiaries', window );">Dividend to non-controlling interests in subsidiaries</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(4,233)<span></span>
</td>
<td class="num">(4,233)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions', window );">Cost of share-based payment</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">956<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">956<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AcquisitionOfSubsidiaries', window );">Acquisition of subsidiaries</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">719<span></span>
</td>
<td class="nump">719<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SettlementOfPutOptionsOverNoncontrollingInterest', window );">Settlement of put options over non-controlling interest</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(5,364)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(1,279)<span></span>
</td>
<td class="num">(6,643)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance at Dec. 31, 2021</a></td>
<td class="nump">$ 1,165<span></span>
</td>
<td class="nump">184,047<span></span>
</td>
<td class="nump">70,660<span></span>
</td>
<td class="nump">9,264<span></span>
</td>
<td class="nump">10,420<span></span>
</td>
<td class="nump">275,556<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Balance (in Shares) at Dec. 31, 2021</a></td>
<td class="nump">49,073,055<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net income</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">40,470<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">5,809<span></span>
</td>
<td class="nump">46,279<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncome', window );">Other comprehensive income (loss)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(15,823)<span></span>
</td>
<td class="num">(3,276)<span></span>
</td>
<td class="num">(19,099)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income (loss)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">40,470<span></span>
</td>
<td class="num">(15,823)<span></span>
</td>
<td class="nump">2,533<span></span>
</td>
<td class="nump">27,180<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughExerciseOfOptions', window );">Exercise of options</a></td>
<td class="nump">$ 1<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ExerciseOfOptions', window );">Exercise of options (in Shares)</a></td>
<td class="nump">20,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DividendToMagicsShareholders', window );">Dividend to Magic&#8217;s shareholders</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(24,841)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(24,841)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DividendToNoncontrollingInterestsInSubsidiaries', window );">Dividend to non-controlling interests in subsidiaries</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(4,170)<span></span>
</td>
<td class="num">(4,170)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions', window );">Cost of share-based payment</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(56)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">2,135<span></span>
</td>
<td class="nump">2,079<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AcquisitionOfRedeemableNoncontrollingInterests', window );">Acquisition of redeemable non-controlling interests</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(721)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(133)<span></span>
</td>
<td class="num">(854)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SettlementOfPutOptionsOverNoncontrollingInterest', window );">Settlement of put options over non-controlling interest</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(1,239)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">2,599<span></span>
</td>
<td class="nump">1,360<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance at Dec. 31, 2022</a></td>
<td class="nump">$ 1,166<span></span>
</td>
<td class="nump">$ 182,031<span></span>
</td>
<td class="nump">$ 86,289<span></span>
</td>
<td class="num">$ (6,559)<span></span>
</td>
<td class="nump">$ 13,384<span></span>
</td>
<td class="nump">$ 276,311<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Balance (in Shares) at Dec. 31, 2022</a></td>
<td class="nump">49,093,055<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ix<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_ix&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81A<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81A_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in equity resulting from tax on transactions in which the entity: (a) receives goods or services from the supplier of those goods or services (including an employee) in a share-based payment arrangement; or (b) incurs an obligation to settle the transaction with the supplier in a share-based payment arrangement when another group entity receives those goods or services. [Refer: Share-based payment arrangements [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughExerciseOfOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from the exercise of options.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughExerciseOfOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of shares that have been authorised and issued, reduced by treasury shares held. [Refer: Treasury shares]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_79_a_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income and expense (including reclassification adjustments) that is not recognised in profit or loss as required or permitted by IFRSs. [Refer: IFRSs [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause viii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_viii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81A<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81A_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 91<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 18<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2022-03-24<br> -Paragraph 39L<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=4&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2023-01-01<br> -Name IFRS<br> -Number 17<br> -IssueDate 2022-03-24<br> -Paragraph 113<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=17&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_113_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81A<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AcquisitionOfRedeemableNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of acquisition of redeemable non-controlling interests.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AcquisitionOfRedeemableNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AcquisitionOfSubsidiaries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of acquisition of subsidiaries.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AcquisitionOfSubsidiaries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DividendToMagicsShareholders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of dividend to magic&#8217;s shareholders.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DividendToMagicsShareholders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DividendToNoncontrollingInterestsInSubsidiaries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of dividend to non-controlling interests in subsidiaries.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DividendToNoncontrollingInterestsInSubsidiaries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ExerciseOfOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of exercise of options.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ExerciseOfOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_SettlementOfPutOptionsOverNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of settlement of put options over non-controlling interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_SettlementOfPutOptionsOverNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
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<FILENAME>R8.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211615919456">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Cash Flows - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract', window );"><strong>Cash flows from operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net income</a></td>
<td class="nump">$ 46,279<span></span>
</td>
<td class="nump">$ 35,339<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income to net cash provided by operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="nump">19,795<span></span>
</td>
<td class="nump">19,837<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdjustmentsForSharebasedPayments', window );">Cost of share-based payment</a></td>
<td class="nump">2,079<span></span>
</td>
<td class="nump">956<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ChangesInValueOfShorttermAndLongtermLoansFromBanksAndOthersAndDepositsNet', window );">Changes in value of short-term and long-term loans from banks and others and deposits, net</a></td>
<td class="num">(1,686)<span></span>
</td>
<td class="nump">71<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInDeferredTaxLiabilityAsset', window );">Changes in deferred taxes, net</a></td>
<td class="num">(3,904)<span></span>
</td>
<td class="num">(3,080)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PaymentsOfDeferredAndContingentConsiderationRelatedToAcquisitions', window );">Payments of deferred and contingent consideration related to acquisitions</a></td>
<td class="num">(3,919)<span></span>
</td>
<td class="num">(556)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_EffectOfExchangeRateOnOfCashAndCashEquivalentsHeldInCurrenciesOtherThanTheFunctio', window );">Effect of exchange rate on of cash and cash equivalents held in currencies other than the functional currency</a></td>
<td class="nump">3,747<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AmortizationOfPremiumAndAccruedInterestOnDebtInstrumentsAtFairValueThroughOtherCo', window );">Amortization of premium and accrued interest on debt instruments at fair value through other comprehensive income</a></td>
<td class="nump">76<span></span>
</td>
<td class="nump">96<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_WorkingCapitalAbstract', window );"><strong>Working capital adjustments:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IncreaseDecreaseTradeReceivables', window );">Trade receivables</a></td>
<td class="num">(2,569)<span></span>
</td>
<td class="num">(27,539)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IncreaseDecreaseAccruedExpensesAndOtherAccountsPayable', window );">Accrued expenses and other accounts payable</a></td>
<td class="num">(975)<span></span>
</td>
<td class="nump">5,415<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OtherCurrentAndLongtermAccountsReceivable', window );">Other current and long-term accounts receivable</a></td>
<td class="num">(1,934)<span></span>
</td>
<td class="nump">263<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable', window );">Trade payables</a></td>
<td class="nump">139<span></span>
</td>
<td class="nump">8,792<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DeferredRevenues', window );">Deferred revenues</a></td>
<td class="num">(513)<span></span>
</td>
<td class="nump">4,080<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperatingActivities', window );">Net cash provided by operating activities</a></td>
<td class="nump">56,615<span></span>
</td>
<td class="nump">43,674<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract', window );"><strong>Cash flows from investing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PaymentsForBusinessAcquisitionsNetOfCashAcquiredAppendixA', window );">Payments for business acquisitions, net of cash acquired (Appendix A)</a></td>
<td class="num">(21,670)<span></span>
</td>
<td class="num">(6,833)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAdvancesAndLoansMadeToRelatedParties', window );">Loan extended to related party</a></td>
<td class="num">(2,250)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CashPaidInConjunctionWithDeferredPaymentsAndContingentLiabilitiesRelatedToBusinessCo', window );">Cash paid in conjunction with deferred payments and contingent liabilities related to business combinations</a></td>
<td class="num">(4,870)<span></span>
</td>
<td class="num">(5,342)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities', window );">Purchase of intangible assets</a></td>
<td class="num">(219)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities', window );">Purchase of property and equipment</a></td>
<td class="num">(4,381)<span></span>
</td>
<td class="num">(1,439)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCashReceiptsFromSalesOfEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities', window );">Redemption of marketable securities</a></td>
<td class="nump">309<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments', window );">Change in short-term deposits</a></td>
<td class="nump">1,682<span></span>
</td>
<td class="num">(5,390)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CapitalizationOfSoftwareDevelopmentOne', window );">Capitalization of software development</a></td>
<td class="num">(3,059)<span></span>
</td>
<td class="num">(3,193)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInInvestingActivities', window );">Net cash used in investing activities</a></td>
<td class="num">(34,458)<span></span>
</td>
<td class="num">(22,197)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromExerciseOfOptions', window );">Exercise of employees&#8217; stock options</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">41<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendsPaidToNoncontrollingInterests', window );">Dividend paid to non-controlling interests</a></td>
<td class="num">(4,170)<span></span>
</td>
<td class="num">(4,233)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DividendToMagicsShareholders1', window );">Dividend to Magic&#8217;s shareholders</a></td>
<td class="num">(24,841)<span></span>
</td>
<td class="num">(21,780)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_RepaymentOfLongtermLoansFromBanksAndOthers', window );">Repayment of long-term loans from banks and others</a></td>
<td class="num">(14,323)<span></span>
</td>
<td class="num">(14,467)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Receipt of long-term loans from banks and others</a></td>
<td class="nump">30,703<span></span>
</td>
<td class="nump">25,558<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities', window );">Repayment of lease liabilities</a></td>
<td class="num">(4,792)<span></span>
</td>
<td class="num">(5,874)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CashPaidDueToExerciseOfPutOptionByNoncontrollingInterests', window );">Cash paid due to exercise of put option by non-controlling interests</a></td>
<td class="num">(854)<span></span>
</td>
<td class="num">(511)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInFinancingActivities', window );">Net cash used in financing activities</a></td>
<td class="num">(18,276)<span></span>
</td>
<td class="num">(21,266)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents', window );">Effect of exchange rate changes on cash and cash equivalents</a></td>
<td class="num">(8,909)<span></span>
</td>
<td class="num">(249)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents', window );">Decrease in cash and cash equivalents</a></td>
<td class="num">(5,028)<span></span>
</td>
<td class="num">(38)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents at beginning of year</a></td>
<td class="nump">88,090<span></span>
</td>
<td class="nump">88,127<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents at end of year</a></td>
<td class="nump">83,062<span></span>
</td>
<td class="nump">88,090<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract', window );"><strong>Fair value of assets acquired and liabilities assumed at the date of acquisition:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_NetAssetsExcludingAcquiredCash', window );">Net assets, excluding acquired cash</a></td>
<td class="num">(1,168)<span></span>
</td>
<td class="nump">506<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IntangibleAssetsNetOfDeferredTaxes', window );">Intangible assets, net of deferred taxes</a></td>
<td class="num">(13,552)<span></span>
</td>
<td class="num">(4,817)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ChangesInGoodwill', window );">Goodwill</a></td>
<td class="num">(22,370)<span></span>
</td>
<td class="num">(8,544)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DeferredAndContingentLiabilitiesAssumedInCurrentYearBusinessCombinations', window );">Deferred and contingent liabilities assumed in current year business combinations</a></td>
<td class="nump">15,420<span></span>
</td>
<td class="nump">5,303<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_FairValueofAssetsAcquiredandLiabilitiesNoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">719<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdjustmentsForReconcileProfitLoss', window );">Cash paid in conjunction with acquisitions, net of acquired cash total</a></td>
<td class="num">(21,670)<span></span>
</td>
<td class="num">(6,833)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_NoncashActivitiesAbstract', window );"><strong>Non-cash activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssetsIncreaseDecreaseInRevaluationSurplus', window );">Right-of-use asset recognized with corresponding lease liability</a></td>
<td class="nump">6,349<span></span>
</td>
<td class="nump">2,801<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxesPaidRefundClassifiedAsFinancingActivities', window );">Income taxes</a></td>
<td class="nump">14,457<span></span>
</td>
<td class="nump">13,050<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestPaidClassifiedAsOperatingActivities', window );">Interest</a></td>
<td class="nump">$ 1,306<span></span>
</td>
<td class="nump">$ 1,264<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Adjustments for depreciation and amortisation expense to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Depreciation and amortisation expense; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 20<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_20_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Adjustments for increase (decrease) in trade accounts payable to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 20<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_20_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForReconcileProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Adjustments to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 20<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForReconcileProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForSharebasedPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Adjustments for share-based payments to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 20<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_20_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForSharebasedPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAdvancesAndLoansMadeToRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for loans and advances made to related parties. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAdvancesAndLoansMadeToRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B13<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow (outflow) due to a decrease (increase) in short-term deposits and investments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) financing activities, which are activities that result in changes in the size and composition of the contributed equity and borrowings of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 50<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) investing activities, which are the acquisition and disposal of long-term assets and other investments not included in cash equivalents.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 50<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) operating activities, which are the principal revenue-producing activities of the entity and other activities that are not investing or financing activities. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 50<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ChangesInGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in goodwill. [Refer: Goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B67<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B67_d&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ChangesInGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaidToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends paid to non-controlling interests. [Refer: Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_a&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaidToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The effect of exchange rate changes on cash and cash equivalents held or due in a foreign currency. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxesPaidRefundClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash flows from income taxes paid or refunded, classified as financing activities. [Refer: Income taxes paid (refund)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 35<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 14<br> -Subparagraph f<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_14_f&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxesPaidRefundClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in cash and cash equivalents after the effect of exchange rate changes on cash and cash equivalents held in foreign currencies. [Refer: Cash and cash equivalents; Effect of exchange rate changes on cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInDeferredTaxLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in a deferred tax liability (asset). [Refer: Deferred tax liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInDeferredTaxLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestPaidClassifiedAsOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for interest paid, classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 31<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestPaidClassifiedAsOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCashReceiptsFromSalesOfEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from sales of equity or debt instruments of other entities (other than receipts for those instruments considered to be cash equivalents and those held for dealing or trading purposes), classified as investing activities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCashReceiptsFromSalesOfEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for payment of lease liabilities, classified as financing activities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from borrowings obtained. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromExerciseOfOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the exercise of options.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromExerciseOfOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 18<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2022-03-24<br> -Paragraph 39L<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=4&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2023-01-01<br> -Name IFRS<br> -Number 17<br> -IssueDate 2022-03-24<br> -Paragraph 113<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=17&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_113_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81A<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for the purchases of intangible assets, classified as investing activities. [Refer: Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for the purchases of property, plant and equipment, classified as investing activities. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RightofuseAssetsIncreaseDecreaseInRevaluationSurplus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the revaluation surplus that relates to right-of-use assets. [Refer: Revaluation surplus; Right-of-use assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 57<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_57&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RightofuseAssetsIncreaseDecreaseInRevaluationSurplus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AmortizationOfPremiumAndAccruedInterestOnDebtInstrumentsAtFairValueThroughOtherCo">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortization of premium and accrued interest on debt instruments at fair value.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AmortizationOfPremiumAndAccruedInterestOnDebtInstrumentsAtFairValueThroughOtherCo</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CapitalizationOfSoftwareDevelopmentOne">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Capitalization of software development.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CapitalizationOfSoftwareDevelopmentOne</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CashPaidDueToExerciseOfPutOptionByNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cash paid due to exercise of put option by non-controlling interests.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CashPaidDueToExerciseOfPutOptionByNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CashPaidInConjunctionWithDeferredPaymentsAndContingentLiabilitiesRelatedToBusinessCo">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cash paid in conjunction with deferred payments and contingent liabilities related to business.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CashPaidInConjunctionWithDeferredPaymentsAndContingentLiabilitiesRelatedToBusinessCo</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ChangesInValueOfShorttermAndLongtermLoansFromBanksAndOthersAndDepositsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Changes in value of short-term and long-term loans from banks and others and deposits, net</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ChangesInValueOfShorttermAndLongtermLoansFromBanksAndOthersAndDepositsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DeferredAndContingentLiabilitiesAssumedInCurrentYearBusinessCombinations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Deferred and contingent liabilities assumed in current year business combinations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DeferredAndContingentLiabilitiesAssumedInCurrentYearBusinessCombinations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DeferredRevenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred revenues.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DeferredRevenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DividendToMagicsShareholders1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of dividend to Magic&#8217;s shareholders.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Effect of exchange rate on of cash and cash equivalents held in currencies other than the functional currency.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Non-controlling interests.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_FairValueofAssetsAcquiredandLiabilitiesNoncontrollingInterests</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_IncreaseDecreaseAccruedExpensesAndOtherAccountsPayable</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Trade receivables.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_IncreaseDecreaseTradeReceivables</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_IntangibleAssetsNetOfDeferredTaxes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Intangible assets, net of deferred taxes.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_IntangibleAssetsNetOfDeferredTaxes</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Net assets, excluding acquired cash.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_NetAssetsExcludingAcquiredCash</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_NoncashActivitiesAbstract</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other current and long-term accounts receivable.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_OtherCurrentAndLongtermAccountsReceivable</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_PaymentsForBusinessAcquisitionsNetOfCashAcquiredAppendixA">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Payments for business acquisitions, net of cash acquired.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_PaymentsForBusinessAcquisitionsNetOfCashAcquiredAppendixA</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_PaymentsOfDeferredAndContingentConsiderationRelatedToAcquisitions">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Payments of deferred and contingent consideration related to acquisitions.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_PaymentsOfDeferredAndContingentConsiderationRelatedToAcquisitions</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Repayment of long-term loans from banks and others.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614580304">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>General<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DisclosureOfGeneralInformationAboutFinancialStatementsTextBlockAbstract', window );"><strong>General [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory', window );">GENERAL</a></td>
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<td style="width: 0in"/><td style="width: 0.75in; text-align: left">NOTE 1:-</td><td style="text-align: justify">GENERAL</td>
</tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="font-size: 10pt">MAGIC SOFTWARE ENTERPRISES LTD., an Israeli company (&#8220;the Company&#8221; or &#8220;the Company&#8221;), is a global provider of: (i) proprietary application development and business process integration platforms that accelerate the planning, development, deployment and integration of on-premise, mobile and cloud business applications (&#8220;the Magic Technology&#8221;); (ii) selected packaged vertical software solutions; and (iii) a vendor of software services and IT outsourcing software services.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Magic Technology enables enterprises
to accelerate the process of delivering business solutions that meet current and future needs and allow customers to dramatically improve
their business performance and return on investment. To complement its software products and to increase its traction with customers,
the Company also offers a complete portfolio of software services in the areas of infrastructure design and delivery, application development,
technology planning and implementation services, communications services and solutions, and supplemental IT professional outsourcing
services. The Company reports its results on the basis of two reportable business segments: software services (which include proprietary
and non-proprietary software solutions, maintenance and support and related services) and IT professional services (see Note 22 for further
details).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company&#8217;s principal markets
are the United States, Israel, Europe and Japan (see Note 22).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">For information about the Company&#8217;s
holdings in subsidiaries and affiliates, see Appendix to the consolidated financial statements.</p><span></span>
</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for general information about financial statements.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 51<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_51&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614518656">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SignificantAccountingPoliciesLineItems', window );"><strong>Significant Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory', window );">SIGNIFICANT ACCOUNTING POLICIES</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.75in; text-align: left">NOTE 2:-</td><td style="text-align: justify">SIGNIFICANT ACCOUNTING POLICIES</td>
</tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The following accounting policies
have been applied consistently in the financial statements for all periods presented, unless otherwise stated.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">1)</td><td style="text-align: justify">Basis of presentation of the financial statements</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">These financial statements have been prepared in accordance with International Financial Reporting Standards as issued by the International
Accounting Standards Board (&#8220;IFRS&#8221;).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.2pt; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The financial statements
for the year ended December 31, 2021 were the Company&#8217;s first consolidated financial statements prepared in accordance with IFRS.
The date of transition to IFRS was January 1, 2021. For all periods up to and including the year ended December 31, 2021, the Company
prepared its financial statements in accordance with United States generally accepted accounting principles (&#8220;U.S. GAAP&#8221;).
Accordingly, the Company&#8217;s first consolidated financial statements that comply with IFRS are applicable as of December 31, 2022,
together with the comparative period data for the year ended December 31, 2021 (See also Note 22 to our consolidated financial statements).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Measurement basis:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company&#8217;s
consolidated financial statements are prepared on a cost basis, except for financial assets measured at fair value through other comprehensive
income (&#8220;OCI&#8221;), employee benefit assets and liabilities, and financial assets and liabilities which are presented at fair
value through profit or loss. (See Note 6).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company has elected
to present the profit or loss items using the function of expense method.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">2)</td><td style="text-align: justify">Use of estimates, judgments and assumptions:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The preparation of
the consolidated financial statements requires management to make estimates, judgments, and assumptions, that have an effect on the application
of the accounting policies and on the reported amounts of assets, liabilities, revenues and expenses in the financial statements. Such
judgments, estimates and assumptions are related, but not limited to liabilities in respect of business combinations, goodwill and intangible
assets and their subsequent impairment analysis, determination of fair value of put options of non-controlling interests, legal contingencies,
research and development capitalization as well as amortization periods, classification of leases as well as the determination of the
lease term and the incremental borrowing rate, income tax uncertainties, deferred taxes, share-based compensation, as well as the determination
of revenue recognition from contracts accounted for based on the estimate of percentage of completion, identification of performance
obligations and the determination of the transaction price as well as the standalone selling prices, and evaluating expected credit losses
(&#8220;ECL&#8221;). The Company&#8217;s management believes that the estimates, judgments, and assumptions used, are reasonable based
upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets
and liabilities and disclosure of contingent assets and liabilities at the dates of the consolidated financial statements, and the reported
amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Changes in accounting
estimates are reported in the period of the change in estimate.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">3)</td><td style="text-align: justify">Consolidated financial statements:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The consolidated
financial statements comprise the financial statements of companies that are controlled by the Company (subsidiaries). Control is achieved
when the Company is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect
those returns through its power over the investee. Potential voting rights are considered when assessing whether an entity has control.
The consolidation of the financial statements commences on the date on which control is obtained and ends when such control ceases.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The financial statements
of the Company and of the subsidiaries are prepared for the same reporting period and using consistent accounting treatment of similar
transactions and economic activities. Significant intragroup balances and transactions and gains or losses resulting from intragroup
transactions are eliminated in full in the consolidated financial statements.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">4)</td><td style="text-align: justify">Non-controlling interests</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Non-controlling interests
in subsidiaries, represent the equity in subsidiaries not attributable, directly or indirectly, to a parent. Non-controlling interests
are presented in equity separately from the equity attributable to the equity holders of the Company. Profit or loss and components of
other comprehensive income are attributed to the Company and to non-controlling interests. Losses are attributed to non-controlling interests
even if they result in a negative balance of non-controlling interests in the consolidated statement of financial position. A change
in the ownership interest of a subsidiary, without a loss of control, is accounted for as a change in equity by adjusting the carrying
amount of the non-controlling interests with a corresponding adjustment of the equity attributable to equity holders of the Company less
/ plus the consideration paid or received.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">5)</td><td style="text-align: justify">Business combinations and goodwill:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.2pt; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Business combinations are accounted
for by applying the acquisition method. The cost of the acquisition is measured at the fair value of the consideration transferred on
the acquisition date with the addition of non-controlling interests in the acquiree. In each business combination, the Company chooses
whether to measure the non-controlling interests in the acquiree based on their fair value on the acquisition date or at their proportionate
share in the fair value of the acquiree&#8217;s net identifiable assets.</p><p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; margin: 0pt 0pt 0pt 0.65in; text-align: left">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Direct acquisition costs are carried
to the statement of profit or loss as incurred.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.65in; text-align: left; text-indent: 0pt">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">In a business combination achieved
in stages, equity interests in the acquiree that had been held by the acquirer prior to obtaining control are measured at the acquisition
date fair value while recognizing a gain or loss resulting from the revaluation of the prior investment on the date of achieving control.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">A put option granted by the Group
to non-controlling interests is accounted for using the expected purchase approach under the presumption that the put option will be
exercised, and therefore the parent effectively holds an interest in the subsidiary&#8217;s shares as if the put option had been exercised.
A put option granted by the Group to non-controlling interests for which the consideration to be paid in cash or other financial asset
is recognized as a liability in the amount of the present value of the option&#8217;s exercise price.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 85.05pt 0pt 0; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Contingent consideration is recognized
at fair value on the acquisition date and classified as a financial asset or liability in accordance with IFRS 9. Subsequent changes
in the fair value of the contingent consideration are recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 85.05pt 0pt 0; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Goodwill is initially measured at
cost which represents the excess of the acquisition consideration and the amount of non-controlling interests over the net identifiable
assets acquired and liabilities assumed. If the resulting amount is negative, the acquirer recognizes the resulting gain on the acquisition
date.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="text-align: justify; width: 0.5in"/><td style="width: 0.25in; text-align: justify">6)</td><td style="text-align: justify">Functional currency, presentation currency and foreign currency:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="text-align: justify; width: 0.75in"/><td style="width: 0.25in; text-align: justify">i.</td><td style="text-align: justify">Functional currency and presentation currency:</td>
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financial statements is the U.S dollars (the &#8220;dollar&#8221;), since the Company believes that financial statements in U.S dollars
provide more relevant information to its investors and users of the financial statements. Also, the dollar is the currency of the primary
economic environment in which the Company and certain subsidiaries operate. Thus, the functional and reporting currency of the Company
and certain subsidiaries is the dollar.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Assets, including fair value adjustments
upon acquisition, and liabilities of an investee which is a foreign operation, are translated at the closing rate at each reporting date.
Profit or loss items are translated at average exchange rates for all periods presented. The resulting translation differences are recognized
in other comprehensive income (loss).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Intragroup loans for which settlement
is neither planned nor likely to occur in the foreseeable future are, in substance, a part of the investment in the foreign operation
and, accordingly, the exchange rate differences from these loans (net of the tax effect) are recorded in other comprehensive income (loss).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="text-align: justify; width: 0.75in"/><td style="text-align: justify; width: 0.25in">ii.</td><td style="text-align: justify">Transactions, assets and liabilities in
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currency are recorded upon initial recognition at the exchange rate at the date of the transaction. After initial recognition, monetary
assets and liabilities denominated in foreign currency are translated at each reporting date into the functional currency at the exchange
rate at that date. Exchange rate differences are recognized in profit or loss. Non-monetary assets and liabilities denominated in foreign
currency and measured at cost are translated at the exchange rate at the date of the transaction. Non-monetary assets and liabilities
denominated in foreign currency and measured at fair value are translated into the functional currency using the exchange rate prevailing
at the date when the fair value was determined.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">7)</td><td style="text-align: justify">Cash equivalents:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.2pt; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Cash equivalents are considered short-term
highly liquid investments, that are readily convertible to cash with original maturities of three months or less, at acquisition. Cash
and cash equivalents include amounts held primarily in NIS, dollar, Euro, Japanese Yen and British Pound.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">8)</td><td style="text-align: justify">Short-term bank deposits:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Short-term bank deposits
are deposits with an original maturity of more than three months from the date of investment and which do not meet the definition of
cash equivalents. The deposits are presented at a cost (including accrued interest) which approximates their fair value. Restricted deposits
include deposits used to secure certain subsidiaries&#8217; ongoing projects, as well as security deposits with respect to leases, and are
classified under other short-term and long-term receivables.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">As of January 1,
2021, December 31, 2021 and 2022, the Company&#8217;s bank deposits are mainly denominated in U.S. dollars and bear yearly interest rates of
mainly&#160;0.27%, 0.27% and&#160;3.54%, respectively.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">9)</td><td style="text-align: justify">Revenue recognition:</td>
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of the promised goods or services are transferred to the customers, in an amount that reflects the consideration that the company expects
to receive in exchange for those goods or services.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company determines revenue recognition
through the following steps:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">identification of the contract with a customer;</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">identification of the performance obligations in the contract;</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">determination of the transaction price;</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">allocation of the transaction price to the performance obligations
in the contract; and</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">recognition of revenue when, or as, the Company satisfies
a performance obligation.</td>
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can include various combinations of products, software and professional services, as detailed below, which are generally distinct from
each other and accounted for as separate performance obligations.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company derives its revenues from
licensing the rights to use its software (proprietary and non-proprietary), provision of related professional services, maintenance and
technical support as well as from other software and IT professional services (either fixed price or based on time and materials). The
Company sells its products primarily through direct sales force and indirectly through distributors and value added resellers.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify">Under IFRS 15, an entity recognizes
revenue when or as it satisfies a performance obligation by transferring software license or software related services to the customer,
either at a point in time or over time. When the Company enters into a contract for the sale of software license which does not require
significant implementation services, and the customer receives the rights to use the perpetual or term-based software license, the Company
recognizes revenue from the sale of the software license at the time of delivery, when the customer receives control of the software
license. The software license is considered a distinct performance obligation recognized at a point-in-time, as the customer can benefit
from the software on its own or together with other readily available resources. Revenue from long term contracts which involve significant
implementation, customization, or integration of the Company&#8217;s software license to customer-specific requirements are considered
as one performance obligation satisfied over-time. The underlying deliverable is owned and controlled by the customer and does not create
an asset with an alternative use to the Company. The Company recognizes revenue of such contracts over time using cost inputs, which
recognize revenue and gross profit as work is performed based on a ratio between actual costs incurred compared to the total estimated
costs for the contract, to measure progress toward completion of its performance obligations. Provisions for estimated losses on uncompleted
contracts are made in the period in which such losses are first determined, in the amount of the estimated loss for the entire contract.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify">In addition, the
Company provides professional services that do not involve significant customization to customer-specific specifications (typically staffing
or consulting services). The revenue is recognized as the services are performed, either on a straight-line basis or based on the hours
of services that were provided to the customer, in accordance with the terms of the contracts.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: 0pt">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify">The Company&#8217;s
revenues from post contract support are derived from annual maintenance contracts providing for unspecified upgrades for new versions
and enhancements on a when-and-if-available basis for an annual fee, as well as technical support for software licenses previously sold.
The right for an unspecified upgrade for new versions and enhancements on a when-and-if-available basis do not specify the features,
functionality and release date of future product enhancements for the customer to know what will be made available and the general timeframe
in which it will be delivered. The Company considers the post contract support performance obligation as a distinct performance obligation
that is satisfied over time, and recognized on a straight-line basis over the contractual period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: 0pt">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify">Revenue from professional
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are considered performance obligations that are satisfied over time, and revenues are recognized as the services are provided.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: 0pt">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify">The transaction price
is allocated to the separate performance obligations on a relative standalone selling price basis. Stand-alone selling prices of software
licenses are typically estimated using the residual approach. Stand-alone selling prices of services are typically estimated based on
observable transactions when these services are sold on a standalone basis.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: 0pt">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify">When another party
is involved in providing goods or services to the customer, the Company examines whether the nature of its promise is a performance obligation
to provide the defined goods or services itself, which means the Company is a principal and therefore recognizes revenue in the gross
amount of the consideration, or to arrange that another party provide the goods or services which means the Company is an agent and therefore
recognizes revenue in the amount of the net commission.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company is a
principal when it controls the promised goods or services before their transfer to the customer. Indicators that the Company controls
the goods or services before their transfer to the customer include, inter alia, as follows: the Company is responsible for fulfilling
the promises in the contract; the Company has inventory risk before the goods or services are transferred to the customer; and the Company
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commissions to sales and marketing and certain management personnel based on their attainment of certain predetermined sales or profit
goals. The Company expenses sales commissions as they are incurred when the amortization period would have been less than one year. In
addition, generally, sales commissions which are paid upon contract renewal are commensurate with the initial commissions as the renewal
amounts are substantially identical to the initial commission costs. During the years ended December 31, 2022 and 2021, no costs have
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between payment by the customer and the transfer of the promised goods or services to the customer will be one year or less.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"><b>&#160;</b></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
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or equity.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
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are computed in respect of temporary differences between the carrying amounts in the financial statements and the amounts attributed
for tax purposes. Deferred taxes are measured at the tax rate that is expected to apply when the asset is realized or the liability is
settled, based on tax laws that have been enacted or substantively enacted by the reporting date. Deferred tax assets are reviewed at
each reporting date and reduced to the extent that it is not probable that they will be utilized. Deductible carryforward losses and
temporary differences for which deferred tax assets had not been recognized are reviewed at each reporting date and a respective deferred
tax asset is recognized to the extent that their utilization is probable.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.95pt; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Taxes that would
apply in the event of the disposal of investments in investees have not been considered in computing deferred taxes, as long as the disposal
of the investments in investees is not probable in the foreseeable future. Also, deferred taxes that would apply in the event of distribution
of earnings by investees as dividends have not been considered in computing deferred taxes, since the distribution of dividends does
not involve an additional tax liability or since it is the Company&#8217;s policy not to initiate distribution of dividends from a subsidiary
that would trigger an additional tax liability.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 46.5pt; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Taxes on income
that relate to distributions of an equity instrument and to transaction costs of an equity transaction are accounted for pursuant to
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offset if there is a legally enforceable right to offset a current tax asset against a current tax liability and the deferred taxes relate
to the same taxpayer and the same taxation authority.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 46.5pt; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
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uncertain tax positions, including additional tax and interest expenses, is recognized when it is more likely than not that the Company
will have to use its economic resources to pay the obligation.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 46.5pt; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
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exchange for consideration.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
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the Company is the lessee, the Company recognizes on the commencement date of the lease a right-of-use asset and a lease liability, excluding
leases whose term is up to twelve months and leases for which the underlying asset is of low value. For these excluded leases, the Company
has elected to recognize the lease payments as an expense in profit or loss on a straight-line basis over the lease term. In measuring
the lease liability, the Company has elected to apply the practical expedient in the Standard and does not separate the lease components
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a change in the discount rate applicable to the lease liability) and recorded as an adjustment of the lease liability and the right-of-use
asset, only when there is a change in the cash flows resulting from the change in the index (that is, when the adjustment to the lease
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  <tr style="vertical-align: bottom; background-color: White">
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are amortized using the straight-line method over the term of the lease (including option terms that are deemed to be reasonably assured)
or the estimated useful life of the improvements, whichever is shorter.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The useful life,
the depreciation method and the residual value of an asset are reviewed at least each year-end (at the end of the year) and any changes
are accounted for prospectively as a change in accounting estimate. Depreciation of an asset ceases at the earlier of the date that the
asset is classified as held for sale and the date that the asset is derecognized.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
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intangible assets are measured on initial recognition at cost, including directly attributable costs. Intangible assets acquired in a
business combination are measured at fair value at the acquisition date. Expenditures relating to internally generated intangible assets,
excluding capitalized development costs, are recognized in profit or loss when incurred.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Intangible assets
with a finite useful life are amortized over their useful life and reviewed for impairment whenever there is an indication that the asset
may be impaired. The amortization period and the amortization method for an intangible asset are reviewed at least at each year end.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"><span style="text-decoration:underline">Research and development
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incurred in the process of software development are recognized in profit or loss when incurred. An intangible asset arising from a software
development project or from the development phase of an internal project is recognized if the Company can demonstrate the technical feasibility
of completing the intangible asset so that it will be available for use or sale; the Company&#8217;s intention to complete the intangible
asset and use or sell it; the ability to use or sell the intangible asset; how the intangible asset will generate future economic benefits;
the availability of adequate technical, financial and other resources to complete the intangible asset; and the ability to measure reliably
the respective expenditure asset during its development. The Company establishes technological feasibility upon completion of a detailed
program design or a working model.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Capitalized software
costs are measured at cost less any accumulated amortization and any accumulated impairment losses on a product-by-product basis. Amortization
of capitalized software costs begin when development is complete, and the product is available for use or for sale. The Company considers
a product to be available for use when the Company completes its internal validation of the product that is necessary to establish that
the product meets its design specifications including functions, features, and technical performance requirements. Internal validation
includes the completion of coding, documentation and testing that ensure bugs are reduced to a minimum. The internal validation of the
product takes place a few weeks before the product is made available to the market. In certain instances, the Company enters into a short
pre-release stage, during which the product is made available to a selected number of customers as a beta program for their own review
and familiarization. Subsequently, the release is made generally available to customers. Once a product is considered available for use,
the capitalization of costs ceases and amortization of such costs to &#8220;cost of sales&#8221; begins.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Capitalized software
costs are amortized on a product-by-product basis by the straight-line method over the estimated useful life of the software product
(between 5-7 years).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Research and development
costs incurred in the process of developing product enhancements are generally charged to expenses as incurred.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company assesses
the recoverability of its capitalized software costs on a regular basis by assessing the net realizable value of these intangible assets
based on the estimated future gross revenues from each product reduced by the estimated future costs of completing and disposing of it,
including the estimated costs of performing maintenance and customer support over its remaining economical useful life using internally
generated projections of future revenues generated by the products, cost of completion of products and cost of delivery to customers
over its remaining economical useful life.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"><span style="text-decoration:underline">Other intangible
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excluding capitalized development costs are comprised mainly of customer-related intangible assets, backlogs, acquired technology and
patent, and are amortized over their useful lives using a method of amortization that reflects the pattern in which the economic benefits
of the intangible assets are consumed or otherwise used up. The useful life of intangible assets is as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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from the derecognition of an intangible asset are determined as the difference between the net disposal proceeds and the carrying amount
of the asset and are recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The useful life of
these assets is reviewed annually to determine whether their indefinite life assessment continues to be supportable. If the events and
circumstances do not continue to support the assessment, the change in the useful life assessment from indefinite to finite is accounted
for prospectively as a change in accounting estimate, and on that date the asset is tested for impairment. Commencing from that date,
the asset is amortized systematically over its useful life.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
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the need to record an impairment of non-financial assets (property, plant and equipment, capitalized software costs and other intangible
assets, goodwill) whenever events or changes in circumstances indicate that the carrying amount is not recoverable. If the carrying amount
of non-financial assets exceeds their recoverable amount, the assets are reduced to their recoverable amount. The recoverable amount
is the higher of fair value less costs of sale and value in use. In measuring value in use, the expected future cash flows are discounted
using a pre-tax discount rate that reflects the risks specific to the asset. The recoverable amount of an asset that does not generate
independent cash flows is determined for the cash-generating unit to which the asset belongs. Impairment losses are recognized in profit
or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">An impairment loss
of an asset, other than goodwill, is reversed only if there have been changes in the estimates used to determine the asset&#8217;s recoverable
amount since the last impairment loss was recognized. Reversal of an impairment loss, as above, shall not be increased above the lower
of the carrying amount that would have been determined (net of depreciation or amortization) had no impairment loss been
recognized for the asset in prior years and its recoverable amount. The reversal of impairment loss of an asset presented at cost is
recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">For the purpose of
impairment testing, goodwill acquired in a business combination is allocated, at the acquisition date, to each of our cash-generating
units that are expected to benefit from the synergies of the combination. The Company reviews goodwill for impairment once a year, on
December 31, or more frequently if events or changes in circumstances indicate that there is an impairment.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Goodwill is tested
for impairment by assessing the recoverable amount of the cash-generating unit (or group of cash-generating units) to which the goodwill
has been allocated. An impairment loss is recognized if the recoverable amount of the cash-generating unit (or group of cash-generating
units) to which goodwill has been allocated is less than the carrying amount of the cash-generating unit (or group of cash-generating
units). Any impairment loss is allocated first to goodwill. Impairment losses recognized for goodwill cannot be reversed in subsequent
periods.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">During the years
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are measured upon initial recognition at fair value plus transaction costs that are directly attributable to the acquisition of the financial
assets, except for financial assets measured at fair value through profit or loss in respect of which transaction costs are recorded
in profit or loss.\</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company classifies
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or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company has short-term
financial assets such as trade receivables in respect of which the Company applies a simplified approach and measures the loss allowance
in an amount equal to the lifetime expected credit losses.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">An impairment loss
on debt instruments measured at amortized cost is recognized in profit or loss with a corresponding loss allowance that is offset from
the carrying amount of the financial asset.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company has
short-term financial assets such as trade receivables in respect of which the Company applies a simplified approach in IFRS 9 and measures
the loss allowance in an amount equal to the lifetime expected credit losses. Trade receivables include original invoiced amounts less
an allowance for any potential uncollectible amounts and less invoiced amounts from maintenance and professional services contracts which
haven&#8217;t been recognized yet<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">. </span><span style="font-size: 10pt">The
Company makes estimates of expected credit losses for the allowance for doubtful accounts based upon its assessment of various factors,
including historical experience, the age of the trade receivable balances, credit quality of its customers, current economic conditions,
reasonable and supportable forecasts of future economic conditions, and other factors that may affect its ability to collect from customers.
The estimated credit loss allowance is recorded as general and administrative expenses on the Company&#8217;s consolidated statements of profit
or loss. Such allowance charge amounted of $ 892 and $ 1,778, respectively for the years ended December 31, 2021 and 2022.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
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</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 141.75pt; text-align: justify; text-indent: -0.5in"/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
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the Company measures all financial liabilities at amortized cost using the effective interest rate method, except for financial liabilities
at fair value through profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">b)</td><td style="text-align: justify">Financial liabilities measured at fair value through profit
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the Company measures financial liabilities that are not measured at amortized cost at fair value. Transaction costs are recognized in
profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">After initial recognition,
changes in fair value are recognized in profit or loss, except for put option granted to non-controlling interests.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Put option granted
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grants to non-controlling interests a put option to sell part or all of their interests in a subsidiary, during a certain period, even
if such purchase obligation is conditional on the counterparty&#8217;s exercise of its contractual right to cause such redemption, if
the put option agreement does not transfer to the Company any benefits incidental to ownership of the equity instrument (i.e. the Company
does not have a present ownership in the shares concerned) then at the end of each reporting period the non-controlling interests (to
which a portion of net profit attributable to non-controlling interests is allocated) are classified as a financial liability, as if
such put-able equity instrument was redeemed on that date. The difference between the non-controlling interests carrying amount at the
end of the reporting period and the present value of the liability is recognized directly in equity of the Company, under &#8220;Additional
paid-in capital&#8221;.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">The Company remeasures
the financial liability at the end of each reporting period based on the estimated present value of the consideration to be transferred
upon the exercise of the put option.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">If the option is
exercised in subsequent periods, the consideration paid upon exercise is treated as settlement of the liability. If the put option expires,
the liability is settled and a portion of the investment in the subsidiary disposed of, without loss of control therein.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
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price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at
the measurement date. Fair value measurement is based on the assumption that the transaction will take place in the asset&#8217;s or the liability&#8217;s
principal market, or in the absence of a principal market, in the most advantageous market.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The fair value of
an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming
that market participants act in their economic best interest. Fair value measurement of a non-financial asset takes into account a market
participant&#8217;s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market
participant that would use the asset in its highest and best use. The Company uses valuation techniques that are appropriate in the circumstances
and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the
use of unobservable inputs.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -0.5in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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  <tr style="vertical-align: top">
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measured at fair value or for which fair value is disclosed are categorized into levels within the fair value hierarchy based on the
lowest level input that is significant to the entire fair value measurement:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">17)</td><td style="text-align: justify">Provisions:</td>
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a past event, it is expected to require the use of economic resources to clear the obligation and a reliable estimate has been made.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Following are the
types of provisions included in the financial statements:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">i.</td><td style="text-align: justify">Legal claims:</td>
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when the Company has a present legal or constructive obligation as a result of a past event, it is more likely than not that an outflow
of resources embodying economic benefits will be required by the Company to settle the obligation and a reliable estimate can be made
of the amount of the obligation.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">ii.</td><td style="text-align: justify">Contingent liability recognized in a business combination:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">A contingent liability in a business
combination is measured at fair value upon initial recognition. In subsequent periods, it is measured at the higher of the amount initially
recognized less, when appropriate, cumulative amortization, and the amount that would be recognized at the end of the reporting period
in accordance with IAS 37.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
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several employee benefit plans:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">i.</td><td style="text-align: justify">Short-term employee benefits:</td>
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benefits are benefits that are expected to be settled wholly before twelve months after the end of the annual reporting period in which
the employees render the related services. These benefits include salaries, paid annual leave, paid sick leave, recreation and social
security contributions and are recognized as expenses as the services are rendered. A liability in respect of a cash bonus or a profit-sharing
plan is recognized when the Company has a legal or constructive obligation to make such payment as a result of past service rendered
by an employee and a reliable estimate of the amount can be made.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -0.5in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
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subsidiaries (as defined with respect to their Israeli employee contribution plans pursuant to section 14 of Israel&#8217;s Severance
Pay Law, 1963 (the &#8220;Severance Pay Law&#8221;)) pay fixed contributions to those plans and will have no legal or constructive obligation
to pay further contributions if the fund into which those contributions are paid does not hold sufficient amounts to pay all employee
benefits relating to employee service in the current and prior periods. Contributions to the defined contribution plan in respect of
severance or retirement pay are recognized as an expense when contributed concurrently with performance of the employee&#8217;s services.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Magic and its Israeli
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Severance Pay Law. According to the Severance Pay Law, employees are entitled to severance pay upon dismissal or retirement.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">In respect of its
severance pay obligation to certain of its employees, the Company makes current deposits in pension funds and insurance companies (the
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assets are not available to the Company&#8217;s own creditors and cannot be returned directly to the Company.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The liability for
employee benefits shown in the statement of financial position reflects the present value of the defined benefit obligation, less the
fair value of the plan assets. Remeasurements of the net liability are recognized in other comprehensive income in the period in which
they occur.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company&#8217;s net
obligation for other long-term employee benefits, which is computed based on actuarial assumptions, is for the future benefit due to
employees for services rendered in the current period and in prior periods and considering expected salary increases. The amount of these
benefits is discounted to its present value. The discount rate is determined by reference at the reporting date to market yields on high
quality corporate bonds that are linked to the Consumer Price Index and whose term is consistent with the term of the Company&#8217;s obligation.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Remeasurement of
the net obligation is recognized to the statement of comprehensive income in the incurred period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
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senior management officers, are entitled to remuneration in the form of equity-settled share-based payment transactions. The cost of
equity-settled transactions with employees is measured at the fair value of the equity instruments granted at grant date. The fair value
is determined using an acceptable option pricing model.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The cost of equity-settled
transactions is recognized in profit or loss together with a corresponding increase in equity during the period which the performance
and/or service conditions are to be satisfied ending on the date on which the relevant employees become entitled to the award (&#8220;the
vesting period&#8221;). The cumulative expense recognized for equity-settled transactions at the end of each reporting period until the
vesting date reflects the extent to which the vesting period has expired and the Company&#8217;s best estimate of the number of equity instruments
that will ultimately vest.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify; text-indent: -0.5in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">No expense is recognized
for awards that do not ultimately vest, except for awards where vesting is conditional upon a market condition, which are treated as
vesting irrespective of whether the market condition is satisfied, provided that all other vesting conditions (service and/or performance)
are satisfied<span style="font-family: Times New Roman, Times, Serif">.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company recognizes
compensation expenses for the value of its awards, which have graded vesting based on the accelerated method over the requisite service
period of each of the awards. The Company accounts for forfeitures as they occur.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
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are calculated by dividing the net income attributable to equity holders of the Company by the weighted number of ordinary shares outstanding
during the period. Potential ordinary shares are included in the computation of diluted earnings per share when their conversion decreases
earnings per share from continuing operations. Potential ordinary shares that are converted during the period are included in diluted
earnings per share only until the conversion date and from that date in basic earnings per share. The Company&#8217;s share of earnings of
subsidiaries is included based on its share of earnings per share of the subsidiaries multiplied by the number of shares held by the
Company.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">21)</td><td style="text-align: justify">Concentration of credit risk:</td>
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that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, short-term bank
deposits, trade receivables and foreign currency derivative contracts.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The majority of the
Company&#8217;s cash and cash equivalents, bank deposits and other financial instruments are invested with major banks in Israel, the United
States and across Europe. Management believes that these financial instruments are held in financial institutions with high credit standing,
and accordingly, minimal credit risk exists with respect to these investments. Cash and cash equivalents and short-term deposits in the
United States may be in excess of insured limits and are not insured in other jurisdictions. Generally, these banks deposits may be redeemed
upon demand and therefore bear minimal risk.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company&#8217;s trade
receivables are generally derived from sales to large organizations located mainly in Israel, North America, Europe and Asia Pacific.
The Company performs ongoing credit evaluations of its customers using a reliable outside source to determine payment terms and credit
limits which are approved based on the size of the customer and to date has not experienced any material losses. In certain circumstances,
Magic and its subsidiaries may require letters of credit or other collateral or additional guarantees.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company maintains
an allowance for credit losses based upon management&#8217;s experience and estimate of collectability of each outstanding invoice. The allowance
for credit losses is determined with respect to specific debts or which collection is doubtful. The risk of collection associated with
accounts receivable is mitigated by the diversity and number of customers.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
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from managing the Company&#8217;s working capital as well as from financial expenses and principal payments of the Company&#8217;s debt instruments.
Liquidity risk consists of the risk that the Company will have difficulty in fulfilling obligations relating to financial liabilities.
The Company&#8217;s policy is to ascertain constant cash adequacy needed for settling its liabilities when due. For this purpose, the Company
aims to hold cash balances (or adequate credit lines) that will meet anticipated demands.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Magic and its subsidiaries
examine cash flow forecasts on a monthly basis as well as information regarding cash balances. As of the reporting date, these forecasts
indicate that the Company can expect sufficient liquid sources for covering its entire liabilities under reasonable assumptions.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px">&#160;</td> <td style="width: 24px; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">23)</span></td> <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassification of prior years presentation</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Certain prior year amounts have been
reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -0.5in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">24)</td><td style="text-align: justify">Disclosure of new standards in the period prior to their
adoption</td>
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<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">a.</td><td style="text-align: justify">Amendment to IAS 1, &#8220;Presentation of Financial Statements&#8221;:</td>
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an amendment to IAS 1, &#8220;Presentation of Financial Statements&#8221; regarding the criteria for determining the classification of
liabilities as current or non-current (&#8220;the Original Amendment&#8221;). In October 2022, the IASB issued a subsequent amendment (&#8220;the
Subsequent Amendment&#8221;).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">According to the Subsequent Amendment:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">Only covenants with which an entity must comply on or before
the reporting date will affect a liability&#8217;s classification as current or non-current.</td>
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<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">An entity should provide disclosure when a liability arising
from a loan agreement is classified as non-current and the entity&#8217;s right to defer settlement is contingent on compliance with future
covenants within twelve months from the reporting date. This disclosure is required to include information about the covenants and the
related liabilities. The disclosures must include information about the nature of the future covenants and when compliance is applicable,
as well as the carrying amount of the related liabilities. The purpose of this information is to allow users to understand the nature
of the future covenants and to assess the risk that a liability classified as non-current could become repayable within twelve months.
Furthermore, if facts and circumstances indicate that an entity may have difficulty in complying with such covenants, those facts and
circumstances should be disclosed.</td>
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the conversion option of a liability affects the classification of the entire liability as current or non-current unless the conversion
component is an equity instrument.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Original Amendment and Subsequent
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is permitted.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company estimates that the Amendments
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an amendment to IAS 8, &#8220;Accounting Policies, Changes to Accounting Estimates and Errors&#8221; (&#8220;the Amendment&#8221;), in which
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<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">c.</td><td style="text-align: justify">Amendment to IAS 12, &#8220;Income Taxes&#8221;:</td>
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to IAS 12, &#8220;Income Taxes&#8221; (&#8220;IAS 12&#8221;), which narrows the scope of the initial recognition exception under IAS 12.15
and IAS 12.24 (&#8220;the Amendment&#8221;).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">According to the recognition guidelines
of deferred tax assets and liabilities, IAS 12 excludes recognition of deferred tax assets and liabilities in respect of certain temporary
differences arising from the initial recognition of certain transactions. This exception is referred to as the &#8220;initial recognition
exception&#8221;. The Amendment narrows the scope of the initial recognition exception and clarifies that it does not apply to the recognition
of deferred tax assets and liabilities arising from transactions that are not a business combination and that give rise to equal taxable
and deductible temporary differences, even if they meet the other criteria of the initial recognition exception.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Amendment applies for annual
reporting periods beginning on or after January 1, 2023, with earlier application permitted. In relation to leases and decommissioning
obligations, the Amendment is to be applied commencing from the earliest reporting period presented in the financial statements in which
the Amendment is initially applied. The cumulative effect of the initial application of the Amendment should be recognized as an adjustment
to the opening balance of retained earnings (or another component of equity, as appropriate) at that date.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company estimates that the initial
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disclose &#8216;significant&#8217; accounting policies with a requirement to disclose &#8216;material&#8217; accounting policies. One of the main reasons for
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211641354448">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Business Combinations<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DisclosureOfBusinessCombinationsTextBlockAbstract', window );"><strong>Business Combinations [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBusinessCombinationsExplanatory', window );">BUSINESS COMBINATIONS</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.75in; text-align: left"><span style="font-size: 10pt"><b>NOTE 3:-</b></span></td><td style="text-align: justify"><span style="font-size: 10pt"><b>BUSINESS COMBINATIONS</b></span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.5in"><span style="text-decoration:underline">Current year
acquisitions</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">a.</span></td><td style="text-align: justify">On December 2, 2021, the Company entered into a Share Purchase Agreement
(&#8220;the Agreement&#8221;) to acquire 50.1% of the outstanding share capital of Appush Ltd. (formerly known as Vidstart Ltd.) (&#8220;Appush&#8221;),
a provider of a video advertising platform that offers personalized automated methods and real-time smart optimization, helping its clients
achieve high yields in the competitive digital ecosystem, for $ 21,492. Of which, $ 11,042 was paid upon closing. The final closing and
execution of the Agreement occurred on January 27, 2022. In addition, the Company paid $1.5 million as an advance payment for future acquisition
of the remainder of Appush&#8217;s shares. According to the Agreement, the Company is obliged to purchase the remainder of Appush&#8217;s
shares in stages until it will hold 100% of Appush&#8217;s shares on or before December 31, 2026. This obligation was accounted for as
a financial liability measured at its fair value as of the acquisition date of $10,450. The fair value of the financial liability at December
31, 2022 was $8,560. On April 2022 and 2023, the Company acquired the remainder of Appush&#8217;s shares and it now holds 100%
of its shares.</td>
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    <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(2,762</td><td style="width: 1%; text-align: left">)</td></tr>
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<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">b.</span></td><td style="text-align: justify">On August 23, 2022, the Company acquired The Goodkind Group,
LLC (&#8220;TGG&#8221;) for a total consideration of $ 11,629, subject to net working capital adjustments. Of which, $ 7,993 was paid upon
closing. The remainder constitutes a deferred payment payable in 2023 and 2024. TGG provides permanent and temporary staffing needs in
various sectors including: Information Technology, Accounting &amp; Finance, Digital Media, Marketing, Human Resource, Financial Services.
TGG specializes in customizing solutions and programs to their clients. With On-Site programs and sourcing models the Company solutions
includes functions which differs from standard staffing companies. TGG provides assistance in the areas of compensation design and development,
employee opinion surveys, employment policies and practices, performance management, regulatory and compliance issues and succession
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a provider of IT professional services based in Nantes, France. The consideration of the transaction is comprised solely from a cash
consideration in an amount of $ 3,428.</td>
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acquisition date to estimate the fair value of these amounts. The Company&#8217;s management believes the information provides a reasonable
basis for estimating the fair values of these amounts, but is waiting for additional information necessary to finalize those fair values.
Therefore, provisional measurements of fair value reflected are subject to change. The Company expects to finalize the tangible and intangible
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for business combinations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Section Disclosures<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;doctype=Standard&amp;dita_xref=IFRS03_g59-63__IFRS03_g59-63_TI<br> -URIDate 2022-03-24<br></p></div>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211641422112">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Cash and Cash Equivalents<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of cash and cash equivalents. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211641422112">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Accounts Receivavable And Prepaid Expesnes<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
<tr class="re">
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<td style="width: 0in"/><td style="width: 0.75in; text-align: left"><b>NOTE 5:-</b></td><td style="text-align: justify"><b>OTHER ACCOUNTS RECEIVAVABLE AND PREPAID EXPESNES</b></td>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211641422112">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair Value Measurement<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_FairValueMeasurementLineItems', window );"><strong>Fair Value Measurement [Abstract]</strong></a></td>
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<td style="width: 0in"/><td style="width: 0.75in; text-align: left">NOTE 6:- </td><td style="text-align: justify">FAIR VALUE MEASUREMENT</td>
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    <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">47,985</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for fair value measurement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Section Disclosure<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;doctype=Standard&amp;dita_xref=IFRS13_g91-99__IFRS13_g91-99_TI<br> -URIDate 2022-03-24<br></p></div>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211665037248">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property , Plants and Equipment , Net<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PropertyPlantsandEquipmentNetLineItems', window );"><strong>Property , Plants and Equipment , Net [Abstract]</strong></a></td>
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<td style="width: 0in"/><td style="width: 0.75in; text-align: left">NOTE 7:- </td><td style="text-align: justify">PROPERTY, PLANTS AND EQUIPMENT, NET</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for property, plant and equipment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Section Disclosure<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;doctype=Standard&amp;dita_xref=IAS16_g73-79__IAS16_g73-79_TI<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614492720">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Intangible Assets, Net<br></strong></div></th>
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    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="-sec-ix-hidden: hidden-fact-72; font-size: 9pt; font-style: normal; font-weight: normal">-</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">219</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="-sec-ix-hidden: hidden-fact-73; font-size: 9pt; font-style: normal; font-weight: normal">-</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="-sec-ix-hidden: hidden-fact-74; font-size: 9pt; font-style: normal; font-weight: normal">-</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">219</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal">
    <td style="font-style: normal; text-indent: -0.125in; padding-left: 0.125in; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">Acquisition
    of subsidiaries</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="-sec-ix-hidden: hidden-fact-75; font-size: 9pt; font-style: normal; font-weight: normal">-</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">11,319</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">2,707</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="-sec-ix-hidden: hidden-fact-76; font-size: 9pt; font-style: normal; font-weight: normal">-</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">14,026</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal">
    <td style="font-style: normal; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">Adjustments
    arising from translating financial statements of foreign operations</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">(103</span></td><td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">)</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">(5,055</span></td><td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">)</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">(1,030</span></td><td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">)</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">(53</span></td><td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">)</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">(6,241</span></td><td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">)</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">Balance
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    <td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">93,057</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">93,134</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">20,048</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">584</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">206,823</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">Accumulated
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    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">Balance
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    <td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">54,494</span></td><td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">10,329</span></td><td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">193</span></td><td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">144,370</span></td><td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">Amortization
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    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">3,817</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">7,865</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">1,797</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">95</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">13,574</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">Adjustments
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    <td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">-</span></td><td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">(2,930</span></td><td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">)</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">(244</span></td><td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">)</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">(4</span></td><td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">)</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">(3,178</span></td><td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">)</span></td></tr>
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    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">Balance
    as of December 31, 2022</span></td><td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">83,171</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">59,429</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">11,882</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">284</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">154,766</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">Amortized
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  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom">
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    <td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">$</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; width: 7%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">183,658</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">3,193</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
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    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">-</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
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  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">Acquisition
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    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">-</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
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  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
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  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">79,354</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">54,494</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">10,329</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">193</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">144,370</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">Amortized
    cost at December 31, 2021</span></td><td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">10,747</span></td><td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">32,157</span></td><td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">8,042</span></td><td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">444</span></td><td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">51,390</span></td><td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">Amortized
    cost at January 1, 2021</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">11,399</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">32,129</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about intangible assets. [Refer: Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211682156112">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Goodwill<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GoodwillLineItems', window );"><strong>Goodwill [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGoodwillExplanatory', window );">GOODWILL</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.75in; text-align: left"><span style="text-transform: uppercase">Note</span>
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described above could change in future periods. If any of these were to vary materially from the Company&#8217;s plans, it may record
impairment of goodwill allocated to this reporting unit in the future. </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt; text-align: justify; text-indent: 15pt; background-color: white">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"><span style="background-color: white">Based
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of the Company&#8217;s group of cash-generating units significantly exceeded their carrying amount.</span></p><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of goodwill. [Refer: Goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614288384">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Short Term Debts<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShortTermDebtsLineItems', window );"><strong>Short Term Debts [Abstract]</strong></a></td>
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<td style="width: 0in"/><td style="width: 0.75in; text-align: left"><span style="text-transform: uppercase"><b>Note </b></span>10:-</td><td style="text-align: justify"><span style="text-transform: uppercase">short
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of short term debts explanatory.</p></div>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211682156112">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Accounts Payable<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory', window );">OTHER ACCOUNTS PAYABLE</a></td>
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<td style="width: 0in"/><td style="width: 0.75in; text-align: left"><span style="text-transform: uppercase">Note 11:-</span></td><td style="text-align: justify"><span style="text-transform: uppercase">other accounts
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for trade and other payables. [Refer: Trade and other payables]
Effective 2023-01-01: The description of the entity's material accounting policy information for trade and other payables. [Refer: Trade and other payables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211641280496">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long Term Debts<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">On March 31, 2022,
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  <tr style="vertical-align: top">
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  <tr style="vertical-align: top">
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<td style="width: 0.25in"><sup>(1)</sup></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">This is comprised of a loan obtained by the Company
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(&#8220;the Loan&#8221;). The principal amount of the loan is payable in seven equal annual installments with the final payment due on
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<tr style="vertical-align: top">
<td style="width: 0.25in"><sup>(2)</sup></td><td style="text-align: justify">On June 1, 2021, the Company obtained a loan in the amount of $ 15,000 from an Israeli bank. The principal
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<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">a.</td><td style="text-align: justify">Our equity will not be lower than <span style="-sec-ix-hidden: hidden-fact-81">$1</span><span style="font-family: Times New Roman, Times, Serif">50
</span>million (one hundred fifty million U.S. Dollars at all times);</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">b.</td><td style="text-align: justify">The ratio of the total financial debts less cash to total
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</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
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</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfOtherNoncurrentAssetsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of other non-current assets. [Refer: Other non-current assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614835008">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Related Parties Transactions<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_RelatedPartiesTransactionsLineItems', window );"><strong>Related Parties Transactions [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfRelatedPartyExplanatory', window );">RELATED PARTIES TRANSACTIONS</a></td>
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<td style="width: 0in"/><td style="width: 0.75in; text-align: left"><span style="text-transform: uppercase">Note 13:-</span></td><td style="text-align: justify"><span style="text-transform: uppercase">RELATED
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companies pursuant to which the Company has rendered services amounting to approximately $5,615, and $6,990, in aggregate for the years
ended December 31, 2021 and 2022, respectively and acquired services amounting to approximately $ 2,639 and $ 3,088 for the years ended
December 31, 2021 and 2022, respectively. The aforementioned services include cloud computing services, software products, computer infrastructure
and integration, software development and maintenance services and back-office services.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">As of December 31,
2021 and 2022, the Company had trade and other receivables balances due to its related parties in amount of approximately $ 3,380 and
$ 8,519, respectively. In addition, as of December 31, 2021 and 2022. the Company had trade payables balances due from its related parties
in amount of approximately $ 708 and $124, respectively.</p><span></span>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614615216">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Leases<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LeasesLineItems', window );"><strong>Leases [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfLeasesExplanatory', window );">LEASES</a></td>
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<td style="width: 0in"/><td style="width: 0.75in; text-align: left"><span style="text-transform: uppercase">Note 14:-</span></td><td style="text-align: justify"><span style="text-transform: uppercase">LEASES</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">The Company leases substantially
all of its office space and vehicles under operating leases. The Company&#8217;s leases have original lease periods expiring between 2023
and 2034. Some leases include one or more options to renew. The Company does not assume renewals in its determination of the lease term
unless the renewals are deemed to be reasonably certain at lease commencement. Lease payments included in the measurement of the lease
liability comprise the following: the fixed non-cancellable lease payments, payments for optional renewal periods where it is reasonably
certain the renewal period will be exercised, and payments for early termination options unless it is reasonably certain the lease will
not be terminated early.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">In July 2020, the Company entered
into a lease agreement for new corporate offices for the company in Or Yehuda, Israel. The lease expires in June 2033, with an option
by the Company to extend for an additional 10-years term. The Company deemed this option as&#160;reasonably certain to be renewed.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">The Company has several leased
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a lease term through 2029, with an option to terminate the lease after a 4-year term following a 12-month notice in advance, and an option
to renew the lease to an additional 5-year term, through 2034. The Company deemed this option as&#160;reasonably certain to be renewed.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">Under IFRS 16, all leases with
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for leases.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Section Presentation<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;doctype=Standard&amp;dita_xref=IFRS16_g47-50__IFRS16_g47-50_TI<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Section Disclosure<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;doctype=Standard&amp;dita_xref=IFRS16_g51-60__IFRS16_g51-60_TI<br> -URIDate 2022-03-24<br></p></div>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614288384">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share Based Payments<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShareBasedPaymentsLineItems', window );"><strong>Share Based Payments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory', window );">SHARE BASED PAYMENTS</a></td>
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<td style="width: 0in"/><td style="width: 0.75in; text-align: left"><span style="text-transform: uppercase">Note 15:-</span></td><td style="text-align: justify"><span style="text-transform: uppercase">SHARE
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<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">a.</span></td><td style="text-align: justify"><span style="font-size: 10pt">Stock Option Plans of the Company:</span></td>
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Plan, as amended (&#8220;the 2007 Plan&#8221;), options may be granted to employees, officers, directors and consultants of the Company
and its subsidiaries. Pursuant to the original 2007 Stock Option Plan, which is valid until August 1, 2027, the Company reserved 2,750,000
Ordinary shares for issuance. As of December 31, 2022, an aggregate of 952,500 Ordinary shares of the Company are available for future
grants under the 2007 Plan. Each option granted under the 2007 Plan is exercisable for a period of ten years from the date of the grant
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determined by the Board of Directors and set forth in the Company&#8217;s award agreement. Unless determined otherwise by the Board of
Directors, the option exercise price shall be equal to or higher than the share market price at the grant date. The options generally
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model (&#8220;the Binomial model&#8221;) to estimate the fair value for any options granted. The Binomial model takes into account variables
such as volatility, dividend yield rate, and risk-free interest rate and also allows for the use of dynamic assumptions and considers
the contractual term of the option, the probability that the option will be exercised prior to the end of its contractual life, and the
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using the Binomial model, was estimated on the date of grant with the following assumptions: expected volatility was based upon actual
historical stock price movements and was calculated as of the grant dates for different periods, since the Binomial model can be used
for different expected volatilities for different periods. The risk-free interest rate was based on the yield from U.S. Treasury zero-coupon
bonds with an equivalent term to the contractual term of the options. The expected term of options granted was derived from the output
of the option valuation model and represented the period of time that options granted were expected to be outstanding. Estimated forfeitures
were based on actual historical pre-vesting forfeitures. Since dividend payments are applied to reduce the exercise price of the option,
the effect of the dividend protection was reflected by using an expected dividend assumption of zero.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">On March 7, 2021, the Company granted
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period, and include several performance criteria related to the Company&#8217;s results of operations.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">No grants were made to employees or directors
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options on December&#160;31, 2022. This amount is changed based on the market value of the Company&#8217;s Ordinary shares. Total intrinsic
value of options exercised during the years ended December&#160;31, 2021 and 2022 was $628 and $344, respectively. As of December 31,
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Solutions:</span></td>
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Stock Option Plan, (&#8220;Comm-IT Solutions 2022 Plan&#8221;), options may be granted to employees, officers, directors and consultants
of the Company and its subsidiaries. Pursuant to Comm-IT Solutions 2022 Plan, Comm-IT Technology Solutions Ltd. shall reserve in its registered
and reserved capital, such sufficient number of shares (subject to any adjustment in the capital under the Comm-IT Solutions 2022 Plan)
required in order to consummate the Comm-IT Solutions 2022 Plan.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="background-color: white">In
December 2022, Magic&#8217;s Israeli subsidiary, Comm-IT Technology Solutions Ltd. (&#8220;Comm-IT Solutions&#8221;), awarded 12 of its
senior officers 4,028 options to purchase 4,028 shares of Comm-IT Technology Solutions Ltd, at an exercise price ranging between $0.28-$1,878.
827 of the options have fully vested upon their grant, whereas the vesting of the remainder of the options are subject to Comm-IT Solutions
and its subsidiaries meeting certain EBITDA targets for the years 2022-2024. Subject to the EBITDA targets to be met, as well as the officers
continued employment with Comm-IT Solutions throughout 2027, the options will vest at certain points in time throughout the years 2023
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for share-based payment arrangements.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 44<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_44&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614492720">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Employee Benefit Liabilities<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_EmployeeBenefitLiabilitiesLineItems', window );"><strong>Employee Benefit Liabilities [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory', window );">EMPLOYEE BENEFIT LIABILITIES</a></td>
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<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">a)</span></td><td style="text-align: justify"><span style="font-size: 10pt"><span style="text-decoration:underline">Post-employment benefits</span>:</span></td>
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to the labor laws and Severance Pay Law in Israel, the Israeli companies in the Group are required to pay compensation to an employee
upon dismissal or retirement or to make current contributions in defined contribution plans pursuant to section&#160;14 to the Severance
Pay Law, as specified below. These liabilities are accounted for as a post-employment benefit. The computation of the employee benefit
liability is made according to the current employment contract based on an employee&#8217;s salary and employment term which establish
the entitlement to receive the compensation.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="background-color: white">The
post-employment employee benefits are normally financed by contributions classified as a defined benefit plan or as a defined contribution
plan, as detailed below.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">1)</span></td><td style="text-align: justify"><span style="font-size: 10pt"><span style="text-decoration:underline">Defined contribution plans</span>:</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"><span style="background-color: white">Section&#160;14
of the Severance Pay Law, 1963 applies to part of the compensation payments, pursuant to which the fixed contributions paid into pension
funds and/or policies of insurance companies release the Company from any additional liability to employees for whom said contributions
were made. These contributions and contributions for benefits represent defined contribution plans.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">Severance expenses for the years 2021
and 2022 were $5,267 and $7,078, respectively.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">2)</span></td><td style="text-align: justify"><span style="font-size: 10pt"><span style="text-decoration:underline">U.S. employees defined contribution
plan</span>:</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"><span style="background-color: white">The
Company&#8217;s U.S. Subsidiaries have a 401(k) defined contribution plan covering certain employees in the U.S. All eligible employees
may elect to contribute up to 100% of their annual compensation to the plan through salary deferrals, subject to Internal Revenue Service
limits. The U.S. Subsidiary matches up to 3% of employee contributions up to the plan with no limitation.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"/><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">3)</span></td><td style="text-align: justify"><span style="font-size: 10pt"><span style="text-decoration:underline">Defined benefit plans</span>:</span></td>
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Company accounts for that part of the payment of compensation that is not covered by contributions in defined contribution plans, as above,
as a defined benefit plan for which an employee benefit liability is recognized and for which the Company deposits amounts in central
severance pay funds and in qualifying insurance policies.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">b)</span></td><td style="text-align: justify"><span style="font-size: 10pt">Composition of defined benefit
plans is as follows:</span></td>
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    <td colspan="2" style="font-weight: bold; text-align: center">January&#160;1,</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December&#160;31,</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
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    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
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    <td style="width: 64%; text-align: justify">Defined benefit obligation</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">5,545</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,551</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,476</td><td style="width: 1%; text-align: left">&#160;</td></tr>
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    <td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -8.5pt; padding-left: 8.5pt">Fair value of plan assets</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(4,673</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,646</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,575</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
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    <td style="text-align: justify; padding-bottom: 4pt; text-indent: -8.5pt; padding-left: 8.5pt">Net defined benefit liability</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">872</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">905</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">901</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of a net defined benefit liability (asset). [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 140<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_140_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614315568">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td style="width: 0in"/><td style="width: 0.75in; text-align: left"><span style="font-size: 10pt"><b>NOTE 17:-</b></span></td><td style="text-align: justify"><span style="font-size: 10pt"><b>COMMITMENTS AND CONTINGENCIES</b></span></td>
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<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">a.</span></td><td style="text-align: justify"><span style="font-size: 10pt">Guarantees and Collaterals:</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">As of December 31, 2022, the Company has
provided performance bank guarantees as security for the performance of various contracts with customers as well as to secure future payments
in respect of lease agreements in the amount of $2,053 and $912, respectively. As of December 31, 2022, the Company has restricted bank
deposits of $ 31 in favor of the issuing banks.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
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    <td style="width: 0.75in; text-align: justify">&#160;</td>
    <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">b.</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">From time to time, the Company and/or its subsidiaries are subject to legal, administrative and regulatory proceedings, claims, demands and investigations in the ordinary course of business, including claims with respect to intellectual property, contracts, employment and other matters. The Company accrues a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Significant judgment is required in both the determination of probability and the determination as to whether a loss is reasonably estimable. These accruals are reviewed and adjusted to reflect the impact of negotiations, settlements, rulings, advice of legal counsel and other information and events pertaining to a particular matter.</span></td></tr>
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Company in the ordinary course of business. The Company intends to defend itself vigorously against those lawsuits.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In September 2016, an Israeli software
company, that was previously involved in an arbitration proceeding with us in 2015 and won damages from us of $2.4 million, filed a lawsuit
seeking damages of NIS 34,106 against the Company and one its subsidiaries. This lawsuit was filed as part of an arbitration proceeding.
In the lawsuit, the software company claimed that warning letters that the Company sent to its clients in Israel and abroad, warning those
clients against the possibility that the conversion procedure offered by the software company may amount to an infringement of the Company&#8217;s
copyrights (the &#8220;Warning Letters&#8221;), as well as other alleged actions, have caused the software company damages resulting from
loss of potential business. The lawsuit is based on rulings given in the 2015 arbitration proceeding in which it was allegedly ruled that
the Warning Letters constituted a breach of a non-disclosure agreement (NDA) signed between the parties.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company rejected the claims by the
Israeli software company and moved to dismiss the lawsuit entirely. In July 2021, an arbitrator assigned to the case rendered his decision
and determined that the Company should pay the plaintiffs damages in the amount of $1.6 million, which was paid in August 2021 and included
in the Company&#8217;s results of operations for the year ended December 31, 2021.</p><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of commitments and contingent liabilities. [Refer: Contingent liabilities [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614300480">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_EquityLineItems', window );"><strong>Equity [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
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<td style="width: 0in"/><td style="width: 0.75in; text-align: left">NOTE 18:-</td><td style="text-align: justify">EQUITY</td>
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    <td style="text-align: justify"><p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">The Ordinary shares of the
Company are listed on the NASDAQ Global Select Market in the United States and are traded on the Tel-Aviv Stock Exchange in Israel.</span></p></td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: justify">&#160;</td>
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Board of Directors decided to amend the dividend distribution policy announced in 2012. According to the Company&#8217;s amended policy,
each year the Company will distribute a dividend of up to 75% of its annual distributable profits. The Company&#8217;s Board of Directors
may at its discretion and at any time, change, whether as a result of a one-time decision or a change in policy, the rate of dividend
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a dividend distribution of $&#160;0.21 per share ($ 10,297 in the aggregate) which was paid on April 7, 2021. On August 12, 2021, the
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a dividend distribution of $&#160;0.216 per share ($ 10,612 in the aggregate) which was paid on April 7, 2022. On August 11, 2022, the
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a dividend distribution of $0.3 per share ($14,728 in the aggregate), see also Note 24.</p><span></span>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614394624">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Tax<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DisclosureOfIncomeTaxTextBlockAbstract', window );"><strong>Income Tax [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIncomeTaxExplanatory', window );">INCOME TAX</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="text-transform: uppercase; vertical-align: top; text-align: justify">
<td style="text-transform: uppercase; width: 0in"/><td style="text-transform: uppercase; width: 0.75in; text-align: left">Note 19:-</td><td style="text-transform: uppercase; text-align: justify">INCOME tax</td>
</tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt">&#160;</p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.75in"/><td style="width: 0.25in">a.</td><td style="text-align: justify">Israeli taxation:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.25in">1)</td><td style="text-align: justify"><span style="text-decoration:underline">Corporate tax rate in Israel</span>:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">Taxable income of
Israeli companies was generally subject to corporate tax at the rate of 23% in 2021 and 2022. Some of our Israeli subsidiaries are eligible
for certain tax benefits, as described below.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.25in">2)</td><td style="text-align: justify">Tax benefits under the Israeli Law for the Encouragement of Capital Investments, 1959 (the &#8220;Law&#8221;):</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"><span style="text-decoration:underline">Amendment 73 to
the law:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">In December 2016,
the Economic Efficiency Law (Legislative Amendments for Applying the Economic Policy for the 2017 and 2018 Budget Years) 2016, which includes
Amendment 73 to the Law for the Encouragement of Capital Investments (&#8220;the 2017 Amendment&#8221;) was published and was pending
the publication of regulations, in May 2017 regulations were promulgated by the Finance Ministry to implement the &#8220;Nexus Principles&#8221;
based on OECD guidelines published as part of the Base Erosion and Profit Shifting (BEPS) project. Following the publication of the regulations
the 2017 Amendment became fully effective. According to the 2017 Amendment, a Preferred Technological Enterprise, as defined in the 2017
Amendment, with total consolidated revenues of the Company companies is less than NIS 10 billion, shall be subject to 12% tax rate on
income derived from intellectual property (in development area A&#8212;a tax rate of 7.5%). In order to qualify as a Preferred technological
enterprise certain criterion must be met, such as a minimum ratio of annual R&amp;D expenditure and R&amp;D employees, as well as having
at least 25% of annual revenues derived from exports.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">The 2017 Amendment
further provides that a technology company satisfying certain conditions will qualify as a Special Preferred Technology Enterprise (&#8220;SPTE&#8221;)
(an enterprise for which, among others, total consolidated revenues of its parent company and all subsidiaries is at least NIS 10 billion)
and will thereby enjoy a reduced corporate tax rate of 6% on PTI regardless of the company&#8217;s geographic location within Israel.
In addition, a SPTE will enjoy a reduced corporate tax rate of 6% on capital gain derived from the sale of certain &#8220;Benefited Intangible
Assets&#8221; to a related foreign company if the Benefited Intangible Assets were either developed by the Special Preferred Technology
Enterprise or acquired from a foreign company on or after January 1, 2017.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">Starting from 2017
under Amendment 73 to the Investment Law, part of the Company&#8217;s taxable income in Israel is entitled to a preferred 12% tax rate.
Since 2019, under SPTE the tax rate for part of the Company&#8217;s taxable income in Israel has been reduced to a 6% corporate tax rate.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">One of its Israeli
subsidiaries have elected to apply the new incentives regime under the Amendment to their industrial activity in Israel, subject to meeting
its requirements, starting in 2011.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">In 2015, the Company
transitioned to the preferred enterprise track entitling it to a preferred 16% tax rate under Amendment 73 to the Investment Law.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"><span style="text-decoration:underline">Amendment 74 to
the Encouragement Law:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">On November 15, 2021,
the Economic Efficiency Law (Legislative Amendments for Achieving Budget Targets for the 2021 and 2022 Budget Years), 2021 (the &#8220;Economic
Efficiency Law&#8221;), was enacted. This Law establishes a temporary order allowing Israeli companies to release tax-exempt earnings
(&#8220;trapped earnings&#8221; or &#8220;accumulated earnings&#8221;) accumulated until December 31, 2020, through a mechanism established
for a reduced corporate income tax rate applicable to those earnings (the &#8220;Temporary Order&#8221;)<span style="font-family: Times New Roman, Times, Serif">.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">In addition to the
reduced corporate income tax (CIT) rate, Article 74 to the Encouragement Law was amended whereby effective from August 15, 2021, for any
dividend distribution (including a dividend as per Article 51B to the Encouragement Law) by a company which has trapped earnings, there
will be a requirement to allocate a portion of that distribution to the trapped earnings<span style="font-family: Times New Roman, Times, Serif">.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">The tax-exempt income
is attributable to certain Group members&#8217; previous status as &#8220;Approved Enterprise&#8221; and &#8220;Benefited Enterprise&#8221;.
Such tax-exempt income cannot be distributed to shareholders without subjecting the Company to payable income taxes. If dividends are
distributed from previous tax-exempt profits, the Company will be liable for income tax at the rate applicable to its profits from the
Approved Enterprise in at the tax rate enacted in the year in which the income was earned<span style="font-family: Times New Roman, Times, Serif">.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">According to the Temporary
Order, the reduction of CIT will apply to earnings that are released (with no requirement for an actual distribution) within a period
of one year from the date of enactment of the Temporary Order. The reduction in the CIT is dependent on the proportion of the trapped
earnings that are released in relation to the total trapped earnings, and on the applicable CIT rate in the years the earnings were generated.
Consequently, the larger the proportion of the trapped earnings that are released, the lower the tax in respect of the distribution. The
minimum tax rate is 6%. Further, a company that elects to pay a reduced CIT is required to invest in its industrial enterprise a designated
amount in accordance with the Economic Efficiency Law within a period of five years commencing from the tax year in which the election
is made. The designated investment should be utilized for the acquisition of production assets, and/or investments in research and development
and/or compensation to additional new employees<span style="font-family: Times New Roman, Times, Serif">.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">In November 2022,
the Company elected to benefit from the Temporary Order and filed its application for the Temporary Order and paid the required reduced
CIT as per the provisions of the Economic Efficiency Law in respect of its total accumulated tax-exempt earnings amounting to NIS 25,022
(approximately $7,100), and accordingly recognized a tax expense of NIS 2,502 (approximately $711). As of December 31,2022, all the trapped
earnings were released.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">The Company has received
final tax assessments through the year 2016.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">The Company subsidiaries
have received final tax assessments (or assessments that are deemed final) through the tax year 2017.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">Tax benefits under
the Law for the Encouragement of Industry (Taxes), 1969:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">The Company qualifies
as an Industrial Company within the meaning of the Law for the Encouragement of Industry (Taxes), 1969 (the &#8220;Industrial Encouragement
Law&#8221;). The Industrial Encouragement Law defines an &#8220;Industrial Company&#8221; as a company that is resident in Israel and
that derives at least 90% of its income in any tax year, other than income from defense loans, capital gains, interest and dividends,
from an enterprise whose major activity in a given tax year is industrial production. Under the Industrial Encouragement Law, the Company
is entitled to amortization of the cost of purchased know-how and patents over an eight-year period for tax purposes as well as accelerated
depreciation rates on equipment and buildings.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">Eligibility for the
benefits under the Industrial Encouragement Law is not subject to receipt of prior approval from any governmental authority.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.25in">3)</td><td style="text-align: justify">Foreign Exchange Regulations:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">Under the Foreign
Exchange Regulations, the Company and one of its Israeli subsidiaries calculate their tax liability in U.S. dollars according to certain
orders. The tax liability, as calculated in U.S. dollars is translated into NIS according to the exchange rate as of December 31 of each
year.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.25in">4)</td><td style="text-align: justify">Income tax on non-Israeli subsidiaries</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">Non-Israeli subsidiaries
are taxed according to the tax laws in their respective domiciles of residence. If earnings are distributed to Israel in the form of dividends
or otherwise, the Company may be subject to additional Israeli income taxes (subject to an adjustment for foreign tax credits) and foreign
withholding tax rates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">Neither Israeli income
taxes, foreign withholding taxes nor deferred income taxes were provided in relation to undistributed earnings of the non-Israeli subsidiaries.
This is because the Company intends to permanently reinvest undistributed earnings in the foreign subsidiaries in which those earnings
arose. If these earnings were distributed in the form of dividends or otherwise, the Company would be subject to additional Israeli income
taxes (subject to an adjustment for foreign tax credits) and non-Israeli withholding taxes.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">As of December 31,
2022, the Company had $28,950 of cash and cash equivalents that are currently held outside of Israel that would be subject to income taxes
if distributed as dividends. However, a determination of the amount of the unrecognized deferred tax liability for temporary difference
related to those undistributed earnings of foreign subsidiaries is not practicable due to the complexity of the structure of our group
of subsidiaries for tax purposes and the difficulty of projecting the amount of future tax liability.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 141.75pt; text-align: justify; text-indent: -28.35pt">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.25in">5)</td><td style="text-align: justify">Net operating loss carried forward:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.25in 0pt 0; text-align: justify; text-indent: -0.25in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">As of December 31,
2022, two Israeli subsidiaries of the Company had operating loss carryforwards of $10,150 (mainly F.T.S Formula Telecom Solutions, Ltd.
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subsidiaries in England had estimated total available tax loss carryforwards of $3,536 as of December 31, 2022, which can be carried forward
to offset against future taxable income<span style="font-family: Times New Roman, Times, Serif">.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.25in 0pt 0; text-align: left; text-indent: -0.25in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">Two of the Company&#8217;s
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to offset against future taxable income.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 1in"/><td style="width: 0.25in">6)</td><td style="text-align: justify">Deferred tax liabilities, net:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1.25in"/><td style="width: 0.25in; text-align: left">1)</td><td style="text-align: justify"><span style="text-decoration:underline">Presentation in the consolidated statements of financial
position</span>:</td>
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    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">January 1,</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="padding-bottom: 4pt; padding-left: 1.1pt">&#160;</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(11,249</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(9,952</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(7,068</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr>
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<td style="width: 1.25in"/><td style="width: 0.25in; text-align: left">2)</td><td style="text-align: justify"><span style="text-decoration:underline">Composition of deferred taxes</span>:</td>
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  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">January 1,</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
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    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(12,177</td><td style="text-align: left">)</td><td>&#160;</td>
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<td style="text-transform: uppercase; width: 0in"/><td style="text-transform: uppercase; text-align: left; width: 0.75in">Note 19:-</td><td style="text-transform: uppercase; text-align: justify">INCOME tax (C<span style="text-transform: none">ont</span>.)</td>
</tr>
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<td style="width: 1in"/><td style="width: 0.25in; text-align: left">7)</td><td style="text-align: justify">Income tax (tax benefit) consist of the following:</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(1,149</td><td style="text-align: left">)</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<td style="width: 1in"/><td style="width: 0.25in; text-align: left">8)</td><td style="text-align: justify">Theoretical tax:</td>
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  <tr style="vertical-align: bottom">
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    <td style="text-indent: -9pt; padding-left: 9pt">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(1,041</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(2,680</td><td style="text-align: left">)</td></tr>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for income taxes.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Section Disclosure<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;doctype=Standard&amp;dita_xref=IAS12_g79-88__IAS12_g79-88_TI<br> -URIDate 2022-03-24<br></p></div>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614474832">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenue Recognition<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfRevenueExplanatory', window );">REVENUE RECOGNITION</a></td>
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<td style="width: 0in"/><td style="width: 0.75in; text-align: left"><span style="font-size: 10pt"><b>NOTE 20:-</b></span></td><td style="text-align: justify"><span style="font-size: 10pt"><b>REVENUE RECOGNITION</b></span></td>
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contract revenue that has not yet been recognized, which includes deferred revenue and amounts that will be invoiced and recognized as
revenue in future periods. The aggregate amount of consideration allocated to performance obligations either not satisfied or partially
unsatisfied was approximately&#160;$65.7&#160;million&#160;as of December 31, 2022. The Company expects to recognize approximately&#160;58%
in 2023 from remaining performance obligations as of December 31, 2022, and the remainder thereafter.&#160;Remaining performance obligations
include the remaining&#160;non-cancelable,&#160;committed and fixed portion of these contracts for their entire duration; the remaining
performance obligations related to professional services contracts that are on a time and materials basis were excluded, as the Company
elected to apply the practical expedient in accordance with IFRS 15.&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="text-decoration:underline">Contract balances</span>:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The following table provides information
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    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">January, 1</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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statements of financial position<span style="font-size: 10pt">.</span></td>
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    <td style="text-align: justify">&#160;</td><td>&#160;</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for revenue.</p></div>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614375248">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Selected Statements of Income Data<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td style="width: 0in"/><td style="width: 0.75in; text-align: left"><span style="font-size: 10pt"><b>NOTE 21:-</b></span></td><td style="text-align: justify"><span style="font-size: 10pt"><b>SELECTED STATEMENTS OF INCOME
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December 31,</b></p></td><td style="padding-bottom: 1.5pt">&#160;</td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614386336">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Operating segments<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OperatingsegmentsLineItems', window );"><strong>Operating segments [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory', window );">OPERATING SEGMENTS</a></td>
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<td style="width: 0in"/><td style="width: 0.75in; text-align: left"><span style="text-transform: uppercase">Note 22:-</span></td><td style="text-align: justify"><span style="text-transform: uppercase">operating
segments</span></td>
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<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">a.</span></td><td style="text-align: justify"><span style="font-size: 10pt">The Company reports its results
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to geographic areas based on the location of the customers.</span></td>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614641504">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transition to IFRS<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TransitiontoIFRSLineItems', window );"><strong>Transition to IFRS [Abstract]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DisclosureOfTransitionToIFRSTextBlock', window );">TRANSITION TO IFRS</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.75in; text-align: left"><span style="font-size: 10pt"><b>NOTE 23:-</b></span></td><td style="text-align: justify"><span style="font-size: 10pt; text-transform: uppercase"><b>Transition
to</b></span><b> <span style="font-size: 10pt">IFRS</span></b></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-indent: -56.7pt"><span style="text-transform: uppercase"><b>&#160;</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">These financial statements for the year
ended December 31, 2022 are The Company&#8217;s first consolidated financial statements prepared in accordance with IFRS. The date of
transition to IFRS is January 1, 2021. For periods up to and including the year ended December 31, 2021, The Company prepared its consolidated
financial statements in accordance with U.S. GAAP.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Accordingly, The Company has prepared
financial statements that comply with IFRS applicable as of December 31, 2022, together with the comparative period data for the year
ended December 31, 2021, as described in the summary of significant accounting policies (Note 2). In preparing the financial statements,
The Company&#8217;s opening consolidated statement of financial position was prepared as of January 1, 2021, The Company&#8217;s date
of transition to IFRS. This note explains the principal adjustments made by The Company in representing its U.S. GAAP financial statements,
including the statement of financial position as of January 1 and December 31, 2021 and the financial statements for the year ended December
31, 2021, in order to comply with IFRS.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-indent: -56.7pt">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">As a first-time adopter of IFRS, The
Company applied IFRS 1 First-time Adoption of International Financial Reporting Standards. The Standard contains a number of voluntary
and mandatory exemptions from the requirement to retrospectively apply IFRS, which The Company has applied as of January 1, 2021.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company has applied the mandatory
exceptions and certain optional exemptions as set out below:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Business combinations &#8212;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 85.05pt">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">a)</span></td><td style="text-align: justify"><span style="font-size: 10pt">With respect to the business
combination of all subsidiaries acquired during the years ended December 31 2020 and 2021, which were consolidated as subsidiaries under
the U.S. GAAP in the Company&#8217;s consolidated statements of financial position before the date of the transition to IFRS, the Company
elected not to apply IFRS 3 Business Combinations retrospectively. As a result, assets recognized, and liabilities assumed in past business
combinations under U.S. GAAP have remained unchanged at the date of transition.</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 85.05pt">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Reconciliation of statements of financial
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">24,711</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">45,091</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">3,267</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">6,635</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">6,635</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">23,197</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">20,155</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">20,970</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">21,907</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">13,892</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">13,892</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">17,945</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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recognized to conform with the transition to IFRS, as the book basis of such right of use assets and lease liabilities differs between
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14 of the Severance Pay Law) was calculated pursuant to the Severance Pay Law, based on the most recent salary of the employees, multiplied
by the number of years of employment as of the reporting date. The Company&#8217;s plan assets, which cover part of this obligation, were
presented as an asset on the Company&#8217;s consolidated statements of financial position, based on its cash-surrendered value. In accordance
with IFRS, the liability for severance pay is measured using the projected unit credit method and actuarial assumptions (which include
rates of employee turnover and future salary increases based on the estimated timing of payment), and is presented based on discounted
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the unrecognized portion of actuarial gains and losses from the inception of the defined benefit plans. Instead, The Company applies IAS
19 Employee Benefits from the date of transition. Therefore, at the date of transition, The Company recognizes the pension obligations
in accordance with IAS 19 Employee Benefits and no unrecognized actuarial gains and losses are presented at the transition date. The Company&#8217;s
net liability for severance pay as of January 1, 2021 and December 31, 2021, decreased by $4,673 and $3,646, retrospectively, as a result
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redemption amount or the non-controlling interest book value. The profit attributed to the redeemable non-controlling interests was recorded
in profit or loss and included in &#8220;Net income attributable to redeemable non-controlling interests&#8221;. Changes to the redemption
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and $ 9,315 short-term and long-term, respectively, as of January 1, 2021 and $ 23,197 and $ 6,137 short-term and long-term, respectively,
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is conditional on the counterparty&#8217;s exercise of its contractual right to cause such redemption, if the put option agreement does
not transfer to the Company any benefits incidental to ownership of the equity instrument (i.e. the Company does not have a present ownership
in the shares concerned) then at the end of each reporting period the non-controlling interests (to which a portion of net profit attributable
to non-controlling interests is allocated) are classified as a financial liability, as if such put-able equity instrument was redeemed
on that date. The difference between the non-controlling interests carrying amount at the end of the reporting period and the present
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periods, the consideration paid upon exercise is treated as settlement of the liability. If the put option expires, the liability is settled
and a portion of the investment in the subsidiary disposed of, without loss of control therein.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left"><span style="font: normal 10pt Times New Roman, Times, Serif">4.</span></td><td style="text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">Right
                                            of use assets and lease liabilities</span></td>
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are recognized on the commencement date based on the present value of remaining lease payments over the lease term. For this purpose,
the Company considers only payments that are fixed and determinable at the time of commencement. As most of the Company&#8217;s leases
do not provide an implicit rate, the Company uses its incremental borrowing rate (&#8220;IBR&#8221;) based on the information available
on the commencement date in determining the present value of lease payments. The Company&#8217;s IBR is estimated to approximate the interest
rate for collateralized borrowing with similar terms and payments and in economic environments where the leased asset is located. Certain
leases include options to extend or terminate the lease. The ROU asset also includes any lease payments made prior to commencement and
is recorded net of any lease incentives received. Moreover, the ROU asset may also include initial direct costs, which are incremental
costs of a lease that would not have been incurred if the lease had not been obtained. The Company uses the long-lived assets impairment
guidance in ASC Subtopic 360-10, &#8220;Property, Plant, and Equipment - Overall,&#8221; to determine whether a right-of-use asset is
impaired, and if so, the amount of the impairment loss to recognize. An option to extend the lease is considered in connection with determining
the ROU asset and lease liability when it is reasonably certain that the Company will exercise that option. An option to terminate is
considered unless it is reasonably certain that the Company will not exercise the option.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In accordance with IFRS, <span style="background-color: white">for
leases in which the Company is the lessee, the Company recognizes on the commencement date of the lease a right-of-use asset and a lease
liability, excluding leases whose term is up to 12 months and leases for which the underlying asset is of low value. For these excluded
leases, the Company has elected to recognize the lease payments as an expense in profit or loss on a straight-line basis over the lease
term. In measuring the lease liability, the Company has elected to apply the practical expedient in IFRS 16 and does not separate the
lease components from the non-lease components (such as management and maintenance services, etc.) included in a single contract.&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="background-color: white">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On the commencement date, the lease
liability includes all unpaid lease payments discounted at the <span style="background-color: white">interest rate implicit in the lease,
if that rate can be readily determined, or otherwise using the Company&#8217;s incremental borrowing rate. After the commencement date,
the Company measures the lease liability using the effective interest rate method.&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="background-color: white">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="background-color: white">On
the commencement date, the right-of-use asset is recognized in an amount equal to the lease liability plus lease payments already made
on or before the commencement date and initial direct costs incurred less any lease incentives received. The right-of-use asset is measured
by applying the cost model and depreciated over the shorter of its useful life or the lease term. The Company tests for impairment of
the right-of-use asset whenever there are indications of impairment pursuant to the provisions of IAS 36.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">5.</span></td><td style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><span style="font-size: 10pt">Reconciliation between the total
equity attributable to Magic&#8217;s shareholders as reported under the U.S. GAAP as of January 1, 2021 and December 31, 2021 compared
to the amounts reported in accordance with IFRS.</span></td>
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<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">6.</span></td><td style="text-align: justify"><span style="font-size: 10pt">Certain reclassifications have
been made to the consolidated statements of financial position. Such reclassifications affect the presentation of certain items in the
consolidated statement of financial position, and have no impact on net income or equity of The Company:</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-indent: -56.7pt">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Under the U.S. GAAP, redeemable non-controlling
interests were presented as a separate mezzanine equity item on the consolidated statements. In accordance with IFRS, redeemable non-controlling
interests are classified as financial liability on the consolidated statements of financial position ($14,611 and $9,315 short-term
and long-term, respectively, as of January 1, 2021 and $15,454 and $13,880 short-term and long-term, respectively, as of December 31,
2021)</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Finance expenses and income - In accordance
with U.S. GAAP, financial income and expense were presented net in the Company&#8217;s consolidated statements of profit or loss (although
presented separately in a note). Under the IFRS, the Company has separately classified financial income and expense in its consolidated
financial statements.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Accrued interest on loans &#8211; Under
U.S. GAAP, the Company elected to present the accrued interest on loans as part of accrued expenses and other accounts payable in its
consolidated statements of financial position. Under IFRS, the Company elected to reclassify the balance to short term debt in its consolidated
statements of financial position, mainly in order to comply with parent company reporting requirements.</p><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614641504">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Subsequent Events<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SubsequentEventsLineItems', window );"><strong>Subsequent Events [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory', window );">SUBSEQUENT EVENTS</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0px"/><td style="width: 72px; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><b>NOTE
                            24:-</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><b>SUBSEQUENT
                                            EVENTS</b></span></td>
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<td style="width: 0.75in"/><td style="width: 0.25in">a)</td><td style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On March 9, 2023, the Company declared a cash dividend of $14,728, or $0.3 per share to its shareholders
of record on April 10, 2023. The dividend was paid on April 20, 2023.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.75in"/><td style="width: 0.25in">b)</td><td style="text-align: justify">On March 27, 2023, the Company entered into a loan agreement with an Israeli bank, pursuant to which ,
the Company borrowed $20,000 for a four-year term (the &#8220;Bank Loan&#8221;). The Bank Loan will mature on March 27, 2027, and will
be repaid in four (4) equal annual instalments of $6,052 (including interest) starting March 27, 2024. The Bank Loan bears interest at
the rate SOFR + 3.38%.</td></tr></table><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for events after the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 10<br> -IssueDate 2022-03-24<br> -Section Disclosure<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=10&amp;code=ifrs-tx-2022-en-r&amp;doctype=Standard&amp;dita_xref=IAS10_g17-22_IAS10_g17-22_TI<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211616269680">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accounting Policies, by Policy (Policies)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory', window );">Basis of presentation of the financial statements</a></td>
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<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">1)</td><td style="text-align: justify">Basis of presentation of the financial statements</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">These financial statements have been prepared in accordance with International Financial Reporting Standards as issued by the International
Accounting Standards Board (&#8220;IFRS&#8221;).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.2pt; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The financial statements
for the year ended December 31, 2021 were the Company&#8217;s first consolidated financial statements prepared in accordance with IFRS.
The date of transition to IFRS was January 1, 2021. For all periods up to and including the year ended December 31, 2021, the Company
prepared its financial statements in accordance with United States generally accepted accounting principles (&#8220;U.S. GAAP&#8221;).
Accordingly, the Company&#8217;s first consolidated financial statements that comply with IFRS are applicable as of December 31, 2022,
together with the comparative period data for the year ended December 31, 2021 (See also Note 22 to our consolidated financial statements).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Measurement basis:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company&#8217;s
consolidated financial statements are prepared on a cost basis, except for financial assets measured at fair value through other comprehensive
income (&#8220;OCI&#8221;), employee benefit assets and liabilities, and financial assets and liabilities which are presented at fair
value through profit or loss. (See Note 6).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company has elected
to present the profit or loss items using the function of expense method.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DescriptionOfUseOfEstimatesJudgmentAndAssumptionTextBlock', window );">Use of estimates, judgments and assumptions</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">2)</td><td style="text-align: justify">Use of estimates, judgments and assumptions:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The preparation of
the consolidated financial statements requires management to make estimates, judgments, and assumptions, that have an effect on the application
of the accounting policies and on the reported amounts of assets, liabilities, revenues and expenses in the financial statements. Such
judgments, estimates and assumptions are related, but not limited to liabilities in respect of business combinations, goodwill and intangible
assets and their subsequent impairment analysis, determination of fair value of put options of non-controlling interests, legal contingencies,
research and development capitalization as well as amortization periods, classification of leases as well as the determination of the
lease term and the incremental borrowing rate, income tax uncertainties, deferred taxes, share-based compensation, as well as the determination
of revenue recognition from contracts accounted for based on the estimate of percentage of completion, identification of performance
obligations and the determination of the transaction price as well as the standalone selling prices, and evaluating expected credit losses
(&#8220;ECL&#8221;). The Company&#8217;s management believes that the estimates, judgments, and assumptions used, are reasonable based
upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets
and liabilities and disclosure of contingent assets and liabilities at the dates of the consolidated financial statements, and the reported
amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Changes in accounting
estimates are reported in the period of the change in estimate.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DescriptionOfConsolidatedFinancialStatementTextBlock', window );">Consolidated financial statements</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">3)</td><td style="text-align: justify">Consolidated financial statements:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The consolidated
financial statements comprise the financial statements of companies that are controlled by the Company (subsidiaries). Control is achieved
when the Company is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect
those returns through its power over the investee. Potential voting rights are considered when assessing whether an entity has control.
The consolidation of the financial statements commences on the date on which control is obtained and ends when such control ceases.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The financial statements
of the Company and of the subsidiaries are prepared for the same reporting period and using consistent accounting treatment of similar
transactions and economic activities. Significant intragroup balances and transactions and gains or losses resulting from intragroup
transactions are eliminated in full in the consolidated financial statements.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory', window );">Non-controlling interest</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">4)</td><td style="text-align: justify">Non-controlling interests</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Non-controlling interests
in subsidiaries, represent the equity in subsidiaries not attributable, directly or indirectly, to a parent. Non-controlling interests
are presented in equity separately from the equity attributable to the equity holders of the Company. Profit or loss and components of
other comprehensive income are attributed to the Company and to non-controlling interests. Losses are attributed to non-controlling interests
even if they result in a negative balance of non-controlling interests in the consolidated statement of financial position. A change
in the ownership interest of a subsidiary, without a loss of control, is accounted for as a change in equity by adjusting the carrying
amount of the non-controlling interests with a corresponding adjustment of the equity attributable to equity holders of the Company less
/ plus the consideration paid or received.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory', window );">Business combination and goodwill</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">5)</td><td style="text-align: justify">Business combinations and goodwill:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.2pt; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Business combinations are accounted
for by applying the acquisition method. The cost of the acquisition is measured at the fair value of the consideration transferred on
the acquisition date with the addition of non-controlling interests in the acquiree. In each business combination, the Company chooses
whether to measure the non-controlling interests in the acquiree based on their fair value on the acquisition date or at their proportionate
share in the fair value of the acquiree&#8217;s net identifiable assets.</p><p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; margin: 0pt 0pt 0pt 0.65in; text-align: left">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Direct acquisition costs are carried
to the statement of profit or loss as incurred.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.65in; text-align: left; text-indent: 0pt">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">In a business combination achieved
in stages, equity interests in the acquiree that had been held by the acquirer prior to obtaining control are measured at the acquisition
date fair value while recognizing a gain or loss resulting from the revaluation of the prior investment on the date of achieving control.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">A put option granted by the Group
to non-controlling interests is accounted for using the expected purchase approach under the presumption that the put option will be
exercised, and therefore the parent effectively holds an interest in the subsidiary&#8217;s shares as if the put option had been exercised.
A put option granted by the Group to non-controlling interests for which the consideration to be paid in cash or other financial asset
is recognized as a liability in the amount of the present value of the option&#8217;s exercise price.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 85.05pt 0pt 0; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Contingent consideration is recognized
at fair value on the acquisition date and classified as a financial asset or liability in accordance with IFRS 9. Subsequent changes
in the fair value of the contingent consideration are recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 85.05pt 0pt 0; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Goodwill is initially measured at
cost which represents the excess of the acquisition consideration and the amount of non-controlling interests over the net identifiable
assets acquired and liabilities assumed. If the resulting amount is negative, the acquirer recognizes the resulting gain on the acquisition
date.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory', window );">Functional currency, presentation currency and foreign currency</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="text-align: justify; width: 0.5in"/><td style="width: 0.25in; text-align: justify">6)</td><td style="text-align: justify">Functional currency, presentation currency and foreign currency:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="text-align: justify; width: 0.75in"/><td style="width: 0.25in; text-align: justify">i.</td><td style="text-align: justify">Functional currency and presentation currency:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The presentation currency of these
financial statements is the U.S dollars (the &#8220;dollar&#8221;), since the Company believes that financial statements in U.S dollars
provide more relevant information to its investors and users of the financial statements. Also, the dollar is the currency of the primary
economic environment in which the Company and certain subsidiaries operate. Thus, the functional and reporting currency of the Company
and certain subsidiaries is the dollar.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Assets, including fair value adjustments
upon acquisition, and liabilities of an investee which is a foreign operation, are translated at the closing rate at each reporting date.
Profit or loss items are translated at average exchange rates for all periods presented. The resulting translation differences are recognized
in other comprehensive income (loss).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Intragroup loans for which settlement
is neither planned nor likely to occur in the foreseeable future are, in substance, a part of the investment in the foreign operation
and, accordingly, the exchange rate differences from these loans (net of the tax effect) are recorded in other comprehensive income (loss).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="text-align: justify; width: 0.75in"/><td style="text-align: justify; width: 0.25in">ii.</td><td style="text-align: justify">Transactions, assets and liabilities in
                                            foreign currency:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Transactions denominated in foreign
currency are recorded upon initial recognition at the exchange rate at the date of the transaction. After initial recognition, monetary
assets and liabilities denominated in foreign currency are translated at each reporting date into the functional currency at the exchange
rate at that date. Exchange rate differences are recognized in profit or loss. Non-monetary assets and liabilities denominated in foreign
currency and measured at cost are translated at the exchange rate at the date of the transaction. Non-monetary assets and liabilities
denominated in foreign currency and measured at fair value are translated into the functional currency using the exchange rate prevailing
at the date when the fair value was determined.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents', window );">cash equivalents</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">7)</td><td style="text-align: justify">Cash equivalents:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.2pt; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Cash equivalents are considered short-term
highly liquid investments, that are readily convertible to cash with original maturities of three months or less, at acquisition. Cash
and cash equivalents include amounts held primarily in NIS, dollar, Euro, Japanese Yen and British Pound.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DescriptionOfShortTermBankDepositsTextBlock', window );">Short-term bank deposits</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">8)</td><td style="text-align: justify">Short-term bank deposits:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Short-term bank deposits
are deposits with an original maturity of more than three months from the date of investment and which do not meet the definition of
cash equivalents. The deposits are presented at a cost (including accrued interest) which approximates their fair value. Restricted deposits
include deposits used to secure certain subsidiaries&#8217; ongoing projects, as well as security deposits with respect to leases, and are
classified under other short-term and long-term receivables.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">As of January 1,
2021, December 31, 2021 and 2022, the Company&#8217;s bank deposits are mainly denominated in U.S. dollars and bear yearly interest rates of
mainly&#160;0.27%, 0.27% and&#160;3.54%, respectively.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue', window );">Revenue recognition</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">9)</td><td style="text-align: justify">Revenue recognition:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Revenues are recognized when control
of the promised goods or services are transferred to the customers, in an amount that reflects the consideration that the company expects
to receive in exchange for those goods or services.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company determines revenue recognition
through the following steps:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">identification of the contract with a customer;</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">identification of the performance obligations in the contract;</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">determination of the transaction price;</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">allocation of the transaction price to the performance obligations
in the contract; and</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">recognition of revenue when, or as, the Company satisfies
a performance obligation.</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company enters into contracts that
can include various combinations of products, software and professional services, as detailed below, which are generally distinct from
each other and accounted for as separate performance obligations.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company derives its revenues from
licensing the rights to use its software (proprietary and non-proprietary), provision of related professional services, maintenance and
technical support as well as from other software and IT professional services (either fixed price or based on time and materials). The
Company sells its products primarily through direct sales force and indirectly through distributors and value added resellers.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify">Under IFRS 15, an entity recognizes
revenue when or as it satisfies a performance obligation by transferring software license or software related services to the customer,
either at a point in time or over time. When the Company enters into a contract for the sale of software license which does not require
significant implementation services, and the customer receives the rights to use the perpetual or term-based software license, the Company
recognizes revenue from the sale of the software license at the time of delivery, when the customer receives control of the software
license. The software license is considered a distinct performance obligation recognized at a point-in-time, as the customer can benefit
from the software on its own or together with other readily available resources. Revenue from long term contracts which involve significant
implementation, customization, or integration of the Company&#8217;s software license to customer-specific requirements are considered
as one performance obligation satisfied over-time. The underlying deliverable is owned and controlled by the customer and does not create
an asset with an alternative use to the Company. The Company recognizes revenue of such contracts over time using cost inputs, which
recognize revenue and gross profit as work is performed based on a ratio between actual costs incurred compared to the total estimated
costs for the contract, to measure progress toward completion of its performance obligations. Provisions for estimated losses on uncompleted
contracts are made in the period in which such losses are first determined, in the amount of the estimated loss for the entire contract.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify">In addition, the
Company provides professional services that do not involve significant customization to customer-specific specifications (typically staffing
or consulting services). The revenue is recognized as the services are performed, either on a straight-line basis or based on the hours
of services that were provided to the customer, in accordance with the terms of the contracts.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: 0pt">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify">The Company&#8217;s
revenues from post contract support are derived from annual maintenance contracts providing for unspecified upgrades for new versions
and enhancements on a when-and-if-available basis for an annual fee, as well as technical support for software licenses previously sold.
The right for an unspecified upgrade for new versions and enhancements on a when-and-if-available basis do not specify the features,
functionality and release date of future product enhancements for the customer to know what will be made available and the general timeframe
in which it will be delivered. The Company considers the post contract support performance obligation as a distinct performance obligation
that is satisfied over time, and recognized on a straight-line basis over the contractual period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: 0pt">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify">Revenue from professional
services, both related to software and IT professional services businesses consists of either fixed price or time and materials, and
are considered performance obligations that are satisfied over time, and revenues are recognized as the services are provided.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: 0pt">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify">The transaction price
is allocated to the separate performance obligations on a relative standalone selling price basis. Stand-alone selling prices of software
licenses are typically estimated using the residual approach. Stand-alone selling prices of services are typically estimated based on
observable transactions when these services are sold on a standalone basis.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: 0pt">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify">When another party
is involved in providing goods or services to the customer, the Company examines whether the nature of its promise is a performance obligation
to provide the defined goods or services itself, which means the Company is a principal and therefore recognizes revenue in the gross
amount of the consideration, or to arrange that another party provide the goods or services which means the Company is an agent and therefore
recognizes revenue in the amount of the net commission.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company is a
principal when it controls the promised goods or services before their transfer to the customer. Indicators that the Company controls
the goods or services before their transfer to the customer include, inter alia, as follows: the Company is responsible for fulfilling
the promises in the contract; the Company has inventory risk before the goods or services are transferred to the customer; and the Company
has discretion in setting the prices of the goods or services.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Revenue from third-party
sales is recorded at a gross or net amount according to certain indicators. The application of these indicators for gross and net reporting
of revenue depends on the relative facts and circumstances of each sale.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company pays
commissions to sales and marketing and certain management personnel based on their attainment of certain predetermined sales or profit
goals. The Company expenses sales commissions as they are incurred when the amortization period would have been less than one year. In
addition, generally, sales commissions which are paid upon contract renewal are commensurate with the initial commissions as the renewal
amounts are substantially identical to the initial commission costs. During the years ended December 31, 2022 and 2021, no costs have
been capitalized.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company does
not assess whether a contract has a significant financing component if the expectation at contract inception is such that the period
between payment by the customer and the transfer of the promised goods or services to the customer will be one year or less.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"><b>&#160;</b></p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory', window );">Income tax</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">10)</td><td style="text-align: justify">Income tax:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Current or deferred
taxes are recognized in profit or loss, except to the extent that they relate to items which are recognized in other comprehensive income
or equity.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">Current taxes:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">The current tax
liability is measured using the tax rates and tax laws that have been enacted or substantively enacted by the reporting date as well
as adjustments required in connection with the tax liability in respect of previous years.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">Deferred taxes:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.95pt; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Deferred taxes
are computed in respect of temporary differences between the carrying amounts in the financial statements and the amounts attributed
for tax purposes. Deferred taxes are measured at the tax rate that is expected to apply when the asset is realized or the liability is
settled, based on tax laws that have been enacted or substantively enacted by the reporting date. Deferred tax assets are reviewed at
each reporting date and reduced to the extent that it is not probable that they will be utilized. Deductible carryforward losses and
temporary differences for which deferred tax assets had not been recognized are reviewed at each reporting date and a respective deferred
tax asset is recognized to the extent that their utilization is probable.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.95pt; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Taxes that would
apply in the event of the disposal of investments in investees have not been considered in computing deferred taxes, as long as the disposal
of the investments in investees is not probable in the foreseeable future. Also, deferred taxes that would apply in the event of distribution
of earnings by investees as dividends have not been considered in computing deferred taxes, since the distribution of dividends does
not involve an additional tax liability or since it is the Company&#8217;s policy not to initiate distribution of dividends from a subsidiary
that would trigger an additional tax liability.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 46.5pt; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Taxes on income
that relate to distributions of an equity instrument and to transaction costs of an equity transaction are accounted for pursuant to
IAS 12.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Deferred taxes are
offset if there is a legally enforceable right to offset a current tax asset against a current tax liability and the deferred taxes relate
to the same taxpayer and the same taxation authority.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 46.5pt; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.75in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Uncertain
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uncertain tax positions, including additional tax and interest expenses, is recognized when it is more likely than not that the Company
will have to use its economic resources to pay the obligation.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 46.5pt; text-align: justify; text-indent: 0in">&#160;</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory', window );">Leases</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">11)</td><td style="text-align: justify">Leases:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -0.5in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company accounts
for a contract as a lease when the contract terms convey the right to control the use of an identified asset for a period of time in
exchange for consideration.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">i)</td><td style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"><span style="text-decoration:underline">The Company as lessee</span>:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">For leases in which
the Company is the lessee, the Company recognizes on the commencement date of the lease a right-of-use asset and a lease liability, excluding
leases whose term is up to twelve months and leases for which the underlying asset is of low value. For these excluded leases, the Company
has elected to recognize the lease payments as an expense in profit or loss on a straight-line basis over the lease term. In measuring
the lease liability, the Company has elected to apply the practical expedient in the Standard and does not separate the lease components
from the non-lease components (such as management and maintenance services, etc.) included in a single contract.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Leases which entitle
employees to a company car as part of their employment terms are accounted for as employee benefits in accordance with the provisions
of IAS 19 and not as subleases.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">On the commencement
date, the lease liability includes all unpaid lease payments discounted at the interest rate implicit in the lease, if that rate can
be readily determined, or otherwise using the Company&#8217;s incremental borrowing rate. After the commencement date, the Company measures
the lease liability using the effective interest rate method.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">On the commencement
date, the right-of-use asset is recognized in an amount equal to the lease liability plus lease payments already made on or before the
commencement date and initial direct costs incurred. The right-of-use asset is measured applying the cost model and depreciated over
the shorter of its useful life and the lease term.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Following are the
amortization periods of the right-of-use assets by class of underlying asset:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Years</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%; text-align: left; text-indent: -7.1pt; padding-left: 7.15pt">Land and buildings</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: center">&#160;</td><td style="width: 9%; text-align: center">1&#8211;11</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: center">&#160;</td><td style="width: 9%; text-align: center">3</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.15pt">Motor vehicles</td><td>&#160;</td>
    <td style="text-align: center">&#160;</td><td style="text-align: center">1&#8211;5</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: center">&#160;</td><td style="text-align: center">3</td><td style="text-align: left">&#160;</td></tr>
  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">The Company tests
for impairment of the right-of-use asset whenever there are indications of impairment pursuant to the provisions of IAS 36.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -0.5in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">ii)</td><td style="text-align: justify"><span style="text-decoration:underline">Variable lease payments that depend on an index:</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">On the commencement
date, the Company uses the index rate prevailing on the commencement date to calculate the future lease payments.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">For leases in which
the Company is the lessee, the aggregate changes in future lease payments resulting from a change in the index are discounted (without
a change in the discount rate applicable to the lease liability) and recorded as an adjustment of the lease liability and the right-of-use
asset, only when there is a change in the cash flows resulting from the change in the index (that is, when the adjustment to the lease
payments takes effect).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">iii)</td><td style="text-align: justify"><span style="text-decoration:underline">Lease extension and termination options</span>:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">A non-cancelable lease
term includes both the periods covered by an option to extend the lease when it is reasonably certain that the extension option will
be exercised and the periods covered by a lease termination option when it is reasonably certain that the termination option will not
be exercised.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">In the event of any
change in the expected exercise of the lease extension option or in the expected non-exercise of the lease termination option, the Company
remeasures the lease liability based on the revised lease term using a revised discount rate as of the date of the change in expectations.
The total change is recognized in the carrying amount of the right-of-use asset until it is reduced to zero, and any further reductions
are recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">iv)</td><td style="text-align: justify"><span style="text-decoration:underline">Lease modifications</span>:</td>
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of the right-of-use asset and the lease liability. The Company subsequently remeasures the carrying amount of the lease liability according
to the revised lease terms, at the revised discount rate as of the modification date and records the change in the lease liability as
an adjustment to the right-of-use asset.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory', window );">Property, plant and equipment, net</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">12)</td><td style="text-align: justify">Property, plant and equipment, net:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.2pt; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Property, plant and equipment
are measured at cost, including directly attributable costs, less accumulated depreciation. Cost includes spare parts and auxiliary
equipment that are used in connection with plant and equipment. The cost of an item of property, plant and equipment comprises the
initial estimate of the costs of dismantling and removing the item and restoring the site on which the item is located.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Depreciation is calculated
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  <tr style="vertical-align: bottom">
    <td style="text-align: justify"><b>&#160;</b></td><td style="padding-bottom: 1.5pt"><b>&#160;</b></td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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are amortized using the straight-line method over the term of the lease (including option terms that are deemed to be reasonably assured)
or the estimated useful life of the improvements, whichever is shorter.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The useful life,
the depreciation method and the residual value of an asset are reviewed at least each year-end (at the end of the year) and any changes
are accounted for prospectively as a change in accounting estimate. Depreciation of an asset ceases at the earlier of the date that the
asset is classified as held for sale and the date that the asset is derecognized.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory', window );">Intangible assets</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">13)</td><td style="text-align: justify">Intangible assets:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.2pt; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Separately acquired
intangible assets are measured on initial recognition at cost, including directly attributable costs. Intangible assets acquired in a
business combination are measured at fair value at the acquisition date. Expenditures relating to internally generated intangible assets,
excluding capitalized development costs, are recognized in profit or loss when incurred.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Intangible assets
with a finite useful life are amortized over their useful life and reviewed for impairment whenever there is an indication that the asset
may be impaired. The amortization period and the amortization method for an intangible asset are reviewed at least at each year end.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"><span style="text-decoration:underline">Research and development
expenditures</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Research expenditures
incurred in the process of software development are recognized in profit or loss when incurred. An intangible asset arising from a software
development project or from the development phase of an internal project is recognized if the Company can demonstrate the technical feasibility
of completing the intangible asset so that it will be available for use or sale; the Company&#8217;s intention to complete the intangible
asset and use or sell it; the ability to use or sell the intangible asset; how the intangible asset will generate future economic benefits;
the availability of adequate technical, financial and other resources to complete the intangible asset; and the ability to measure reliably
the respective expenditure asset during its development. The Company establishes technological feasibility upon completion of a detailed
program design or a working model.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Capitalized software
costs are measured at cost less any accumulated amortization and any accumulated impairment losses on a product-by-product basis. Amortization
of capitalized software costs begin when development is complete, and the product is available for use or for sale. The Company considers
a product to be available for use when the Company completes its internal validation of the product that is necessary to establish that
the product meets its design specifications including functions, features, and technical performance requirements. Internal validation
includes the completion of coding, documentation and testing that ensure bugs are reduced to a minimum. The internal validation of the
product takes place a few weeks before the product is made available to the market. In certain instances, the Company enters into a short
pre-release stage, during which the product is made available to a selected number of customers as a beta program for their own review
and familiarization. Subsequently, the release is made generally available to customers. Once a product is considered available for use,
the capitalization of costs ceases and amortization of such costs to &#8220;cost of sales&#8221; begins.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Capitalized software
costs are amortized on a product-by-product basis by the straight-line method over the estimated useful life of the software product
(between 5-7 years).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Research and development
costs incurred in the process of developing product enhancements are generally charged to expenses as incurred.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company assesses
the recoverability of its capitalized software costs on a regular basis by assessing the net realizable value of these intangible assets
based on the estimated future gross revenues from each product reduced by the estimated future costs of completing and disposing of it,
including the estimated costs of performing maintenance and customer support over its remaining economical useful life using internally
generated projections of future revenues generated by the products, cost of completion of products and cost of delivery to customers
over its remaining economical useful life.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"><span style="text-decoration:underline">Other intangible
assets</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Intangible assets
excluding capitalized development costs are comprised mainly of customer-related intangible assets, backlogs, acquired technology and
patent, and are amortized over their useful lives using a method of amortization that reflects the pattern in which the economic benefits
of the intangible assets are consumed or otherwise used up. The useful life of intangible assets is as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 0pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: center; padding-left: 0pt">Years</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 84%; text-align: justify; padding-left: 0pt">Customer relationships</td><td style="width: 1%">&#160;</td>
    <td style="width: 15%; text-align: center; padding-left: 0pt">Up to 15</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; padding-left: 0pt">Acquired technology</td><td>&#160;</td>
    <td style="text-align: center; padding-left: 0pt">Up to 10 (mainly 5)</td></tr>
  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Gains or losses arising
from the derecognition of an intangible asset are determined as the difference between the net disposal proceeds and the carrying amount
of the asset and are recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The useful life of
these assets is reviewed annually to determine whether their indefinite life assessment continues to be supportable. If the events and
circumstances do not continue to support the assessment, the change in the useful life assessment from indefinite to finite is accounted
for prospectively as a change in accounting estimate, and on that date the asset is tested for impairment. Commencing from that date,
the asset is amortized systematically over its useful life.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DescriptionOfAdvertisingExpensesTextBlock', window );">Advertising expense</a></td>
<td class="text">development
costs incurred in the process of developing product enhancements are generally charged to expenses as incurred.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory', window );">Impairment of non-financial assets</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">14)</td><td style="text-align: justify">Impairment of non-financial assets:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -0.5in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company evaluates
the need to record an impairment of non-financial assets (property, plant and equipment, capitalized software costs and other intangible
assets, goodwill) whenever events or changes in circumstances indicate that the carrying amount is not recoverable. If the carrying amount
of non-financial assets exceeds their recoverable amount, the assets are reduced to their recoverable amount. The recoverable amount
is the higher of fair value less costs of sale and value in use. In measuring value in use, the expected future cash flows are discounted
using a pre-tax discount rate that reflects the risks specific to the asset. The recoverable amount of an asset that does not generate
independent cash flows is determined for the cash-generating unit to which the asset belongs. Impairment losses are recognized in profit
or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">An impairment loss
of an asset, other than goodwill, is reversed only if there have been changes in the estimates used to determine the asset&#8217;s recoverable
amount since the last impairment loss was recognized. Reversal of an impairment loss, as above, shall not be increased above the lower
of the carrying amount that would have been determined (net of depreciation or amortization) had no impairment loss been
recognized for the asset in prior years and its recoverable amount. The reversal of impairment loss of an asset presented at cost is
recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">For the purpose of
impairment testing, goodwill acquired in a business combination is allocated, at the acquisition date, to each of our cash-generating
units that are expected to benefit from the synergies of the combination. The Company reviews goodwill for impairment once a year, on
December 31, or more frequently if events or changes in circumstances indicate that there is an impairment.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Goodwill is tested
for impairment by assessing the recoverable amount of the cash-generating unit (or group of cash-generating units) to which the goodwill
has been allocated. An impairment loss is recognized if the recoverable amount of the cash-generating unit (or group of cash-generating
units) to which goodwill has been allocated is less than the carrying amount of the cash-generating unit (or group of cash-generating
units). Any impairment loss is allocated first to goodwill. Impairment losses recognized for goodwill cannot be reversed in subsequent
periods.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">During the years
ended December 31, 2021 and 2022, no impairment loss was identified.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory', window );">Consolidated financial statement</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">15)</td><td style="text-align: justify">Financial instruments:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The accounting policy for financial instruments
in accordance with IFRS 9, &#8220;Financial Instruments&#8221; (&#8220;the Standard&#8221;) is as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">1.</td><td style="text-align: justify">Financial assets</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Financial assets
are measured upon initial recognition at fair value plus transaction costs that are directly attributable to the acquisition of the financial
assets, except for financial assets measured at fair value through profit or loss in respect of which transaction costs are recorded
in profit or loss.\</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company classifies
and measures debt instruments in the financial statements based on the following criteria:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">-</td><td style="text-align: justify">The Company&#8217;s business model for managing financial
assets, and;</td>
</tr></table><p style="margin-top: 0; margin-bottom: 0">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">-</td><td style="text-align: justify">The contractual cash flow terms of the financial asset.</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: left">Impairment of financial assets:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company evaluates
at the end of each reporting period the loss allowance for financial debt instruments which are not measured at fair value through profit
or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company has short-term
financial assets such as trade receivables in respect of which the Company applies a simplified approach and measures the loss allowance
in an amount equal to the lifetime expected credit losses.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">An impairment loss
on debt instruments measured at amortized cost is recognized in profit or loss with a corresponding loss allowance that is offset from
the carrying amount of the financial asset.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company has
short-term financial assets such as trade receivables in respect of which the Company applies a simplified approach in IFRS 9 and measures
the loss allowance in an amount equal to the lifetime expected credit losses. Trade receivables include original invoiced amounts less
an allowance for any potential uncollectible amounts and less invoiced amounts from maintenance and professional services contracts which
haven&#8217;t been recognized yet<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">. </span><span style="font-size: 10pt">The
Company makes estimates of expected credit losses for the allowance for doubtful accounts based upon its assessment of various factors,
including historical experience, the age of the trade receivable balances, credit quality of its customers, current economic conditions,
reasonable and supportable forecasts of future economic conditions, and other factors that may affect its ability to collect from customers.
The estimated credit loss allowance is recorded as general and administrative expenses on the Company&#8217;s consolidated statements of profit
or loss. Such allowance charge amounted of $ 892 and $ 1,778, respectively for the years ended December 31, 2021 and 2022.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">2.</td><td style="text-align: justify">Financial liabilities</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 141.75pt; text-align: justify; text-indent: -0.5in"/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">a)</td><td style="text-align: justify">Financial liabilities measured at amortized cost:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Financial liabilities
are initially recognized at fair value less transaction costs that are directly attributable to the issue of the financial liability.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">After initial recognition,
the Company measures all financial liabilities at amortized cost using the effective interest rate method, except for financial liabilities
at fair value through profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">b)</td><td style="text-align: justify">Financial liabilities measured at fair value through profit
or loss:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">At initial recognition,
the Company measures financial liabilities that are not measured at amortized cost at fair value. Transaction costs are recognized in
profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">After initial recognition,
changes in fair value are recognized in profit or loss, except for put option granted to non-controlling interests.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Put option granted
to non-controlling interests:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.2pt; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">When the Company
grants to non-controlling interests a put option to sell part or all of their interests in a subsidiary, during a certain period, even
if such purchase obligation is conditional on the counterparty&#8217;s exercise of its contractual right to cause such redemption, if
the put option agreement does not transfer to the Company any benefits incidental to ownership of the equity instrument (i.e. the Company
does not have a present ownership in the shares concerned) then at the end of each reporting period the non-controlling interests (to
which a portion of net profit attributable to non-controlling interests is allocated) are classified as a financial liability, as if
such put-able equity instrument was redeemed on that date. The difference between the non-controlling interests carrying amount at the
end of the reporting period and the present value of the liability is recognized directly in equity of the Company, under &#8220;Additional
paid-in capital&#8221;.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">The Company remeasures
the financial liability at the end of each reporting period based on the estimated present value of the consideration to be transferred
upon the exercise of the put option.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">If the option is
exercised in subsequent periods, the consideration paid upon exercise is treated as settlement of the liability. If the put option expires,
the liability is settled and a portion of the investment in the subsidiary disposed of, without loss of control therein.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueOfFinancialInstrumentsExplanatory', window );">Fair value measurement</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">16)</td><td style="text-align: justify">Fair value measurement:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Fair value is the
price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at
the measurement date. Fair value measurement is based on the assumption that the transaction will take place in the asset&#8217;s or the liability&#8217;s
principal market, or in the absence of a principal market, in the most advantageous market.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The fair value of
an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming
that market participants act in their economic best interest. Fair value measurement of a non-financial asset takes into account a market
participant&#8217;s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market
participant that would use the asset in its highest and best use. The Company uses valuation techniques that are appropriate in the circumstances
and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the
use of unobservable inputs.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -0.5in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 0.75in">&#160;</td>
    <td style="width: 0.5in; padding-left: 8.5pt; text-indent: -8.5pt; text-align: left">Level 1</td>
    <td style="width: 0.25in; padding-right: 5.4pt; text-align: center; text-indent: 0in">-</td>
    <td style="padding-right: 1.4pt; text-align: justify; text-indent: 0in">quoted prices (unadjusted) in active markets
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  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="padding-left: 8.5pt; text-indent: -8.5pt; text-align: left">&#160;</td>
    <td style="padding-right: 5.4pt; text-align: center; text-indent: 0in">&#160;</td>
    <td style="padding-right: 1.4pt; text-align: justify; text-indent: 0in">&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="padding-left: 8.5pt; text-indent: -8.5pt; text-align: left">Level 2</td>
    <td style="padding-right: 5.4pt; text-align: center; text-indent: 0in">-</td>
    <td style="padding-right: 1.4pt; text-align: justify; text-indent: 0in">inputs other than quoted prices included within Level 1 that
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  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="padding-left: 8.5pt; text-indent: -8.5pt; text-align: left">&#160;</td>
    <td style="padding-right: 5.4pt; text-align: center; text-indent: 0in">&#160;</td>
    <td style="padding-right: 1.4pt; text-align: justify; text-indent: 0in">&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="padding-left: 8.5pt; text-indent: -8.5pt; text-align: left">Level 3</td>
    <td style="padding-right: 5.4pt; text-align: center; text-indent: 0in">-</td>
    <td style="padding-right: 1.4pt; text-align: justify; text-indent: 0in">inputs that are not based on observable market data (valuation
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  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">All assets and liabilities
measured at fair value or for which fair value is disclosed are categorized into levels within the fair value hierarchy based on the
lowest level input that is significant to the entire fair value measurement:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory', window );">Provision</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">17)</td><td style="text-align: justify">Provisions:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">A provision in accordance with IAS 37 is recognized when the Company has a present (legal or constructive) obligation as a result of
a past event, it is expected to require the use of economic resources to clear the obligation and a reliable estimate has been made.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Following are the
types of provisions included in the financial statements:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">i.</td><td style="text-align: justify">Legal claims:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">A provision for claims is recognized
when the Company has a present legal or constructive obligation as a result of a past event, it is more likely than not that an outflow
of resources embodying economic benefits will be required by the Company to settle the obligation and a reliable estimate can be made
of the amount of the obligation.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">ii.</td><td style="text-align: justify">Contingent liability recognized in a business combination:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">A contingent liability in a business
combination is measured at fair value upon initial recognition. In subsequent periods, it is measured at the higher of the amount initially
recognized less, when appropriate, cumulative amortization, and the amount that would be recognized at the end of the reporting period
in accordance with IAS 37.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory', window );">Employee benefits</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">18)</td><td style="text-align: justify">Employee benefits:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 74.7pt; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company maintains
several employee benefit plans:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">i.</td><td style="text-align: justify">Short-term employee benefits:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b>&#160;</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Short-term employee
benefits are benefits that are expected to be settled wholly before twelve months after the end of the annual reporting period in which
the employees render the related services. These benefits include salaries, paid annual leave, paid sick leave, recreation and social
security contributions and are recognized as expenses as the services are rendered. A liability in respect of a cash bonus or a profit-sharing
plan is recognized when the Company has a legal or constructive obligation to make such payment as a result of past service rendered
by an employee and a reliable estimate of the amount can be made.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -0.5in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">ii.</td><td style="text-align: justify">Post-employment benefits:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The plans are normally
financed by contributions to insurance companies and classified as defined contribution plans or as defined benefit plans.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Magic and its Israeli
subsidiaries (as defined with respect to their Israeli employee contribution plans pursuant to section 14 of Israel&#8217;s Severance
Pay Law, 1963 (the &#8220;Severance Pay Law&#8221;)) pay fixed contributions to those plans and will have no legal or constructive obligation
to pay further contributions if the fund into which those contributions are paid does not hold sufficient amounts to pay all employee
benefits relating to employee service in the current and prior periods. Contributions to the defined contribution plan in respect of
severance or retirement pay are recognized as an expense when contributed concurrently with performance of the employee&#8217;s services.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Magic and its Israeli
subsidiaries also operate a defined benefit plan in respect of severance or retirement pay to their Israeli employees pursuant to the
Severance Pay Law. According to the Severance Pay Law, employees are entitled to severance pay upon dismissal or retirement.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">In respect of its
severance pay obligation to certain of its employees, the Company makes current deposits in pension funds and insurance companies (the
&#8220;plan assets&#8221;). Plan assets comprise assets held by a long-term employee benefit fund or qualifying insurance policies. Plan
assets are not available to the Company&#8217;s own creditors and cannot be returned directly to the Company.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The liability for
employee benefits shown in the statement of financial position reflects the present value of the defined benefit obligation, less the
fair value of the plan assets. Remeasurements of the net liability are recognized in other comprehensive income in the period in which
they occur.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company&#8217;s net
obligation for other long-term employee benefits, which is computed based on actuarial assumptions, is for the future benefit due to
employees for services rendered in the current period and in prior periods and considering expected salary increases. The amount of these
benefits is discounted to its present value. The discount rate is determined by reference at the reporting date to market yields on high
quality corporate bonds that are linked to the Consumer Price Index and whose term is consistent with the term of the Company&#8217;s obligation.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Remeasurement of
the net obligation is recognized to the statement of comprehensive income in the incurred period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&#160;</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory', window );">Share-based payment</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">19)</td><td style="text-align: justify">Share-based payment:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company&#8217;s
senior management officers, are entitled to remuneration in the form of equity-settled share-based payment transactions. The cost of
equity-settled transactions with employees is measured at the fair value of the equity instruments granted at grant date. The fair value
is determined using an acceptable option pricing model.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The cost of equity-settled
transactions is recognized in profit or loss together with a corresponding increase in equity during the period which the performance
and/or service conditions are to be satisfied ending on the date on which the relevant employees become entitled to the award (&#8220;the
vesting period&#8221;). The cumulative expense recognized for equity-settled transactions at the end of each reporting period until the
vesting date reflects the extent to which the vesting period has expired and the Company&#8217;s best estimate of the number of equity instruments
that will ultimately vest.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify; text-indent: -0.5in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">No expense is recognized
for awards that do not ultimately vest, except for awards where vesting is conditional upon a market condition, which are treated as
vesting irrespective of whether the market condition is satisfied, provided that all other vesting conditions (service and/or performance)
are satisfied<span style="font-family: Times New Roman, Times, Serif">.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company recognizes
compensation expenses for the value of its awards, which have graded vesting based on the accelerated method over the requisite service
period of each of the awards. The Company accounts for forfeitures as they occur.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory', window );">Earnings per share</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">20)</td><td style="text-align: justify">Earnings per share:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -0.5in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Earnings per share
are calculated by dividing the net income attributable to equity holders of the Company by the weighted number of ordinary shares outstanding
during the period. Potential ordinary shares are included in the computation of diluted earnings per share when their conversion decreases
earnings per share from continuing operations. Potential ordinary shares that are converted during the period are included in diluted
earnings per share only until the conversion date and from that date in basic earnings per share. The Company&#8217;s share of earnings of
subsidiaries is included based on its share of earnings per share of the subsidiaries multiplied by the number of shares held by the
Company.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DescriptionOfConcentrationOfCreditRiskTextBlock', window );">Concentration of credit risk</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">21)</td><td style="text-align: justify">Concentration of credit risk:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Financial instruments
that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, short-term bank
deposits, trade receivables and foreign currency derivative contracts.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The majority of the
Company&#8217;s cash and cash equivalents, bank deposits and other financial instruments are invested with major banks in Israel, the United
States and across Europe. Management believes that these financial instruments are held in financial institutions with high credit standing,
and accordingly, minimal credit risk exists with respect to these investments. Cash and cash equivalents and short-term deposits in the
United States may be in excess of insured limits and are not insured in other jurisdictions. Generally, these banks deposits may be redeemed
upon demand and therefore bear minimal risk.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company&#8217;s trade
receivables are generally derived from sales to large organizations located mainly in Israel, North America, Europe and Asia Pacific.
The Company performs ongoing credit evaluations of its customers using a reliable outside source to determine payment terms and credit
limits which are approved based on the size of the customer and to date has not experienced any material losses. In certain circumstances,
Magic and its subsidiaries may require letters of credit or other collateral or additional guarantees.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The Company maintains
an allowance for credit losses based upon management&#8217;s experience and estimate of collectability of each outstanding invoice. The allowance
for credit losses is determined with respect to specific debts or which collection is doubtful. The risk of collection associated with
accounts receivable is mitigated by the diversity and number of customers.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfLiquidityRiskExplanatory', window );">Liquidity risk</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">22)</td><td style="text-align: justify">Liquidity risk:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Liquidity risk arises
from managing the Company&#8217;s working capital as well as from financial expenses and principal payments of the Company&#8217;s debt instruments.
Liquidity risk consists of the risk that the Company will have difficulty in fulfilling obligations relating to financial liabilities.
The Company&#8217;s policy is to ascertain constant cash adequacy needed for settling its liabilities when due. For this purpose, the Company
aims to hold cash balances (or adequate credit lines) that will meet anticipated demands.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Magic and its subsidiaries
examine cash flow forecasts on a monthly basis as well as information regarding cash balances. As of the reporting date, these forecasts
indicate that the Company can expect sufficient liquid sources for covering its entire liabilities under reasonable assumptions.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DescriptionOfReclassificationOfPriorYearsPresentation', window );">Reclassification of prior years presentation</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px">&#160;</td> <td style="width: 24px; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">23)</span></td> <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassification of prior years presentation</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Certain prior year amounts have been
reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -0.5in">&#160;</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations', window );">Disclosure of new standards in the period prior to their adoption</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">24)</td><td style="text-align: justify">Disclosure of new standards in the period prior to their
adoption</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -0.5in">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">a.</td><td style="text-align: justify">Amendment to IAS 1, &#8220;Presentation of Financial Statements&#8221;:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">In January 2020, the IASB issued
an amendment to IAS 1, &#8220;Presentation of Financial Statements&#8221; regarding the criteria for determining the classification of
liabilities as current or non-current (&#8220;the Original Amendment&#8221;). In October 2022, the IASB issued a subsequent amendment (&#8220;the
Subsequent Amendment&#8221;).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">According to the Subsequent Amendment:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">Only covenants with which an entity must comply on or before
the reporting date will affect a liability&#8217;s classification as current or non-current.</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">An entity should provide disclosure when a liability arising
from a loan agreement is classified as non-current and the entity&#8217;s right to defer settlement is contingent on compliance with future
covenants within twelve months from the reporting date. This disclosure is required to include information about the covenants and the
related liabilities. The disclosures must include information about the nature of the future covenants and when compliance is applicable,
as well as the carrying amount of the related liabilities. The purpose of this information is to allow users to understand the nature
of the future covenants and to assess the risk that a liability classified as non-current could become repayable within twelve months.
Furthermore, if facts and circumstances indicate that an entity may have difficulty in complying with such covenants, those facts and
circumstances should be disclosed.</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -0.5in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">According to the Original Amendment,
the conversion option of a liability affects the classification of the entire liability as current or non-current unless the conversion
component is an equity instrument.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Original Amendment and Subsequent
Amendment are both effective for annual periods beginning on or after January 1, 2024 and must be applied retrospectively. Early application
is permitted.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company estimates that the Amendments
are not expected to have a material impact on its financial statements.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.75in"/><td style="width: 0.25in">b.</td><td style="text-align: justify">Amendment to IAS 8, &#8220;Accounting Policies,
                                            Changes to Accounting Estimates and Errors&#8221;:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">In February 2021, the IASB issued
an amendment to IAS 8, &#8220;Accounting Policies, Changes to Accounting Estimates and Errors&#8221; (&#8220;the Amendment&#8221;), in which
it introduces a new definition of &#8220;accounting estimates&#8221;.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Accounting estimates are defined
as &#8220;monetary amounts in financial statements that are subject to measurement uncertainty&#8221;. The Amendment clarifies the distinction
between changes in accounting estimates and changes in accounting policies and the correction of errors.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Amendment is to be applied prospectively
for annual reporting periods beginning on or after January 1, 2023 and is applicable to changes in accounting policies and changes in
accounting estimates that occur on or after the start of that period. Early application is permitted.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company estimates that the initial
application of the Amendment is not expected to have a material impact on its financial statements.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">c.</td><td style="text-align: justify">Amendment to IAS 12, &#8220;Income Taxes&#8221;:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">In May 2021, the IASB issued an amendment
to IAS 12, &#8220;Income Taxes&#8221; (&#8220;IAS 12&#8221;), which narrows the scope of the initial recognition exception under IAS 12.15
and IAS 12.24 (&#8220;the Amendment&#8221;).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">According to the recognition guidelines
of deferred tax assets and liabilities, IAS 12 excludes recognition of deferred tax assets and liabilities in respect of certain temporary
differences arising from the initial recognition of certain transactions. This exception is referred to as the &#8220;initial recognition
exception&#8221;. The Amendment narrows the scope of the initial recognition exception and clarifies that it does not apply to the recognition
of deferred tax assets and liabilities arising from transactions that are not a business combination and that give rise to equal taxable
and deductible temporary differences, even if they meet the other criteria of the initial recognition exception.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Amendment applies for annual
reporting periods beginning on or after January 1, 2023, with earlier application permitted. In relation to leases and decommissioning
obligations, the Amendment is to be applied commencing from the earliest reporting period presented in the financial statements in which
the Amendment is initially applied. The cumulative effect of the initial application of the Amendment should be recognized as an adjustment
to the opening balance of retained earnings (or another component of equity, as appropriate) at that date.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company estimates that the initial
application of the Amendment is not expected to have a material impact on its financial statements.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">d.</td><td style="text-align: justify">Amendment to IAS 1 - Disclosure of Accounting Policies:</td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">In February 2021, the IASB issued
an amendment to IAS 1, &#8220;Presentation of Financial Statements&#8221; (&#8220;the Amendment&#8221;), which replaces the requirement to
disclose &#8216;significant&#8217; accounting policies with a requirement to disclose &#8216;material&#8217; accounting policies. One of the main reasons for
the Amendment is the absence of a definition of the term &#8216;significant&#8217; in IFRS whereas the term &#8216;material&#8217; is defined in several standards
and particularly in IAS&#160;1.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify">&#160;</p>The Amendment is applicable for annual
periods beginning on or after January 1, 2023.<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for business combinations and goodwill. [Refer: Business combinations [member]; Goodwill]
Effective 2023-01-01: The description of the entity's material accounting policy information for business combinations and goodwill. [Refer: Business combinations [member]; Goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for earnings per share.
Effective 2023-01-01: The description of the entity's material accounting policy information for earnings per share.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for employee benefits. Employee benefits are all forms of consideration given by an entity in exchange for services rendered by employees or for the termination of employment.
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for financial instruments. [Refer: Financial instruments, class [member]]
Effective 2023-01-01: The description of the entity's material accounting policy information for financial instruments. [Refer: Financial instruments, class [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for the currency of the primary economic environment in which the entity operates.
Effective 2023-01-01: The description of the entity's material accounting policy information for the currency of the primary economic environment in which the entity operates.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for the impairment of non-financial assets. [Refer: Financial assets]
Effective 2023-01-01: The description of the entity's material accounting policy information for the impairment of non-financial assets. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for income tax.
Effective 2023-01-01: The description of the entity's material accounting policy information for income tax.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for intangible assets and goodwill. [Refer: Intangible assets and goodwill]
Effective 2023-01-01: The description of the entity's material accounting policy information for intangible assets and goodwill. [Refer: Intangible assets and goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for leases. A lease is an agreement whereby the lessor conveys to the lessee in return for a payment or series of payments the right to use an asset for an agreed period of time.
Effective 2023-01-01: The description of the entity's material accounting policy information for leases. A lease is an agreement whereby the lessor conveys to the lessee in return for a payment or series of payments the right to use an asset for an agreed period of time.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for property, plant and equipment. [Refer: Property, plant and equipment]
Effective 2023-01-01: The description of the entity's material accounting policy information for property, plant and equipment. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for provisions. [Refer: Provisions]
Effective 2023-01-01: The description of the entity's material accounting policy information for provisions. [Refer: Provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for recognising revenue. [Refer: Revenue]
Effective 2023-01-01: The description of the entity's material accounting policy information for recognising revenue. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for transactions in which the entity: (a) receives goods or services from the supplier of those goods or services (including an employee) in a share-based payment arrangement; or (b) incurs an obligation to settle the transaction with the supplier in a share-based payment arrangement when another group entity receives those goods or services. [Refer: Share-based payment arrangements [member]]
Effective 2023-01-01: The description of the entity's material accounting policy information for transactions in which the entity: (a) receives goods or services from the supplier of those goods or services (including an employee) in a share-based payment arrangement; or (b) incurs an obligation to settle the transaction with the supplier in a share-based payment arrangement when another group entity receives those goods or services. [Refer: Share-based payment arrangements [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for transactions with non-controlling interests. [Refer: Non-controlling interests]
Effective 2023-01-01: The description of the entity's material accounting policy information for transactions with non-controlling interests. [Refer: Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy used to determine the components of cash and cash equivalents. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 46<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_46&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the known or reasonably estimable information relevant to assessing the possible impact that the application of a new IFRS, that has been issued but is not yet effective, will have.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 30<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_30_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the basis used for the preparation of the financial statements.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the fair value of financial instruments. [Refer: Financial instruments, class [member]; At fair value [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of liquidity risk. [Refer: Liquidity risk [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Description of advertising expenses.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Description of concentration of credit risk.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Description of consolidated financial statement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Description of reclassification of prior years presentation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211615587552">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Business Combinations (Tables)<br></strong></div></th>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock', window );">Schedule of estimated fair values of the assets acquired and liabilities</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_BusinessCombinationsTablesLineItems', window );"><strong>Business Combinations (Tables) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock', window );">Schedule of estimated fair values of the assets acquired and liabilities</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=mgic_AssetPurchaseAgreementsMember', window );">Asset Purchase Agreements [Member]</a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_BusinessCombinationsTablesLineItems', window );"><strong>Business Combinations (Tables) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock', window );">Schedule of estimated fair values of the assets acquired and liabilities</a></td>
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<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock', window );">Schedule of estimated fair values of the assets acquired and liabilities</a></td>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Accounts Receivavable And Prepaid Expesnes (Tables)<br></strong></div></th>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614313712">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair Value Measurement (Tables)<br></strong></div></th>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ScheduleOfLiabilitiesInRespectOfTheBusinessCombinationsTableTextBlock', window );">Schedule of liabilities in respect of the business combinations</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  </table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in">&#160;</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ScheduleOfCondensedBalanceSheetTableTextBlock', window );">Schedule of financial assets and liabilities in the consolidated statements of financial position</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
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    <td colspan="2" style="text-align: left">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: left">&#160;</td><td>&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: left">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614410560">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property , Plants and Equipment , Net (Tables)<br></strong></div></th>
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    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(58</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(95</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
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    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">75</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,796</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left">Disposals</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(58</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(4</td><td style="text-align: left">)</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt">Adjustments arising from
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(46</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">370</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211651133360">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Intangible Assets, Net (Tables)<br></strong></div></th>
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    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="-sec-ix-hidden: hidden-fact-75; font-size: 9pt; font-style: normal; font-weight: normal">-</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">11,319</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">2,707</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="-sec-ix-hidden: hidden-fact-76; font-size: 9pt; font-style: normal; font-weight: normal">-</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">14,026</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal">
    <td style="font-style: normal; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">Adjustments
    arising from translating financial statements of foreign operations</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">(103</span></td><td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">)</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">(5,055</span></td><td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">)</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">(1,030</span></td><td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">)</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">(53</span></td><td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">)</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">(6,241</span></td><td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">)</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">Balance
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    <td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">93,057</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">93,134</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">20,048</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">584</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">206,823</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">Accumulated
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    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">Balance
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    <td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">79,354</span></td><td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">54,494</span></td><td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">10,329</span></td><td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">193</span></td><td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">144,370</span></td><td style="font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">Amortization
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    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">7,865</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">1,797</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">95</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">13,574</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">Adjustments
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    <td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">-</span></td><td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">(2,930</span></td><td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">)</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">(244</span></td><td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">)</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
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    <td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">(3,178</span></td><td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">)</span></td></tr>
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    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
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    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">Balance
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    <td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">83,171</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">59,429</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">11,882</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">284</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">154,766</span></td><td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: right; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; text-align: left; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal">
    <td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt; font-weight: normal"><span style="font-size: 9pt; font-style: normal; font-weight: normal">Amortized
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    <td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">9,886</span></td><td style="font-style: normal; padding-bottom: 4pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal; padding-bottom: 4pt"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">33,705</span></td><td style="font-style: normal; padding-bottom: 4pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal; padding-bottom: 4pt"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">8,166</span></td><td style="font-style: normal; padding-bottom: 4pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal; padding-bottom: 4pt"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">300</span></td><td style="font-style: normal; padding-bottom: 4pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td><td style="font-style: normal; font-weight: normal; padding-bottom: 4pt"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: right"><span style="font-size: 9pt; font-style: normal; font-weight: normal">52,057</span></td><td style="font-style: normal; padding-bottom: 4pt; font-weight: normal; text-align: left"><span style="font-size: 9pt; font-style: normal; font-weight: normal">&#160;</span></td></tr>
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  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom">
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  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">$</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; width: 7%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">616</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">$</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; width: 7%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">183,658</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">Capitalized
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    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">3,193</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
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    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">-</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">-</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">3,193</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">Acquisition
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    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">-</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">6,445</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">-</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">-</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">6,445</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">Adjustments
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    <td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">668</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
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  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
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  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">195,760</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
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    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
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  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">79,354</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
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  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td></tr>
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    <td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">Amortized
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    <td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">10,747</span></td><td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">32,157</span></td><td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">8,042</span></td><td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">444</span></td><td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">51,390</span></td><td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td></tr>
  <tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">Amortized
    cost at January 1, 2021</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">11,399</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
    <td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">32,129</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
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    <td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">$</span></td><td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">544</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td><td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal">&#160;</span></td>
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</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsAndGoodwillExplanatory', window );">Schedule of amortization expenses related to intangible assets</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold; text-align: center">Year ended December&#160;31,</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 80%; text-align: justify">Cost of revenues</td><td style="width: 1%">&#160;</td>
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    <td style="width: 1%; text-align: left">$</td><td style="width: 7%; text-align: right">5,405</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,968</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 4pt">&#160;</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">13,054</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">13,574</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr>
  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><span style="font-size: 8pt">&#160;</span></p><span></span>
</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for intangible assets.</p></div>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211615626608">
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_GoodwillTablesLineItems', window );"><strong>Disclosure Of Goodwill [Abstract]</strong></a></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the reconciliation of changes in intangible assets and goodwill. [Refer: Intangible assets and goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the reconciliation of changes in the loss allowance and explanation of changes in the gross carrying amount for financial instruments. Loss allowance is the allowance for expected credit losses on financial assets measured in accordance with paragraph 4.1.2 of IFRS 9, lease receivables and contract assets, the accumulated impairment amount for financial assets measured in accordance with paragraph 4.1.2A of IFRS 9 and the provision for expected credit losses on loan commitments and financial guarantee contracts. [Refer: Gross carrying amount [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 35H<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35H&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 35I<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35I&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614392192">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Short Term Debts (Tables)<br></strong></div></th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShortTermDebtsTablesLineItems', window );"><strong>Disclosure Of Short Term Debts [Abstract]</strong></a></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Schedule of short term debt explanatory.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614300480">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Accounts Payable (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DescriptionOfAccountingPolicyForTradeAndOtherPayablesTextBlockAbstract', window );"><strong>Other Accounts Payable [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfRedesignatedFinancialAssetsAndLiabilitiesExplanatory', window );">Schedule of other accounts payable</a></td>
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    <td style="width: 64%; text-align: justify">Employees and payroll accruals</td><td style="width: 1%">&#160;</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of financial assets and financial liabilities that have been redesignated during the transition to IFRSs. [Refer: Financial assets; Financial liabilities; IFRSs [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 29<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_29&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
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<title></title>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211615687472">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long Term Debts (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DisclosureOfOtherNonCurrentAssetsTextBlockAbstract', window );"><strong>Long Term Debts [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ScheduleOfLongTermLiabilitiesTableTextBlock', window );">Schedule of maturity dates</a></td>
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    <td style="padding: 0pt; width: 11%; text-align: center">NIS</td><td style="padding: 0pt; width: 1%">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt; text-align: left">Less current maturities</td><td style="padding: 0pt">&#160;</td>
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<td style="width: 0.25in"><sup>(1)</sup></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">This is comprised of a loan obtained by the Company
on November 2016 in the amount of $ 31,356. The loan is linked to the New Israel Shekel, and was obtained from an Israeli financial institution
(&#8220;the Loan&#8221;). The principal amount of the loan is payable in seven equal annual installments with the final payment due on
November 2, 2023 and bears a fixed interest rate of 2.60% per annum, payable in two semi-annual payments.</span></td></tr>
<tr style="vertical-align: top">
<td style="width: 0.25in"><sup>(2)</sup></td><td style="text-align: justify">On June 1, 2021, the Company obtained a loan in the amount of $ 15,000 from an Israeli bank. The principal
amount of the loan is payable in eight equal semi-annual installments with the final payment due on December 1, 2025 and bears a fixed interest
rate of SOFR + 2.1% per annum, payable in two semi-annual payments.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ScheduleOfMaturityDatesTableTextBlock', window );">Schedule of maturity dates</a></td>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211608051552">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Leases (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LeasesTablesLineItems', window );"><strong>Disclosure Of Leases [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory', window );">Schedule of maturity analysis of undiscounted future lease payments for lease liabilities</a></td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; padding-bottom: 4pt">Present value of lease liabilities</td><td style="padding-bottom: 4pt">&#160;</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ScheduleOfLeaseInformationExplanatory', window );">Schedule of lease information</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <td style="width: 76%; text-align: left; text-indent: -8.5pt; padding-left: 8.5pt">Expenses relating to operating lease costs</td><td style="width: 1%">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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<tr class="ro">
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ScheduleOfRightofuseAssetsExplanatory', window );">Schedule of right-of-use assets</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of a maturity analysis of operating lease payments. Operating lease is a lease that does not transfer substantially all the risks and rewards incidental to ownership of an underlying asset.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 97<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_97&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The Tabular information on Leases.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211616163680">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share Based Payments (Tables)<br></strong></div></th>
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</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory', window );">Schedule of employee option activity</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory', window );">Schedule of options outstanding</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of information about indirect, by reference to the fair value of the equity instruments granted, measurement of the fair value of goods or services received as consideration for the entity's share options.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the range of exercise prices for outstanding share options.</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Employee Benefit Liabilities (Tables)<br></strong></div></th>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of defined benefit plans. [Refer: Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 138<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_138&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614477312">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity (Tables)<br></strong></div></th>
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    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">(6,585</td><td style="width: 1%; text-align: left">)</td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211616266544">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Tax (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ScheduleOfCondensedFinancialStatementsTableTextBlock', window );">Schedule of presentation in the consolidated statements of financial position</a></td>
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    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; text-align: left; padding-left: 1.1pt">Deferred taxes assets</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">6,235</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="padding-bottom: 4pt; padding-left: 1.1pt">&#160;</td><td style="padding-bottom: 4pt">&#160;</td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DisclosureOfCompositionOfDeferredTaxesTableTextBlock', window );">Schedule of composition of deferred taxes</a></td>
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  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; text-align: left; padding-left: 1.1pt">Net operating losses carried forward</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">168</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DisclosureOfIncomeTaxTableTextBlock', window );">Schedule of income tax</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; text-indent: -9pt; padding-left: 9pt">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; text-indent: -9pt; padding-left: 9pt">Deferred taxes:</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(1,149</td><td style="text-align: left">)</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Foreign</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,543</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; text-indent: -9pt; padding-left: 9pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; text-indent: -9pt; padding-left: 9pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">Taxes on income</td><td style="padding-bottom: 4pt">&#160;</td>
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  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&#160;</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DisclosureOfTheoreticalTaxExpenseTableTextBlock', window );">Schedule of theoretical tax expense</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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ended <br/>
December 31,</b></p></td><td style="padding-bottom: 1.5pt">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%; text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">Income before income taxes, as per the statement of operations</td><td style="width: 1%; padding-bottom: 4pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">Statutory tax rate in Israel</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">23</td><td style="padding-bottom: 4pt; text-align: left">%</td><td style="padding-bottom: 4pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; text-indent: -9pt; padding-left: 9pt">Tax computed at the statutory tax rate</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">10,494</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">13,205</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -9pt; padding-left: 9pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; text-indent: -9pt; padding-left: 9pt">Tax adjustment in respect of different tax rates</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">283</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(1,756</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; text-indent: -9pt; padding-left: 9pt">Deferred taxes on losses for which deferred taxes were not created</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(80</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(511</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; text-indent: -9pt; padding-left: 9pt">Tax-deductible costs, not included in the accounting costs</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(1,041</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(2,680</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; text-indent: -9pt; padding-left: 9pt">Non-deductible expenses and tax expenses in respect of prior years, net</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,001</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2,670</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">210</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">Taxes on income</td><td style="padding-bottom: 4pt">&#160;</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of composition of deferred taxes.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of income tax.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of theoretical tax expense.</p></div>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614294096">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenue Recognition (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DisclosureOfRevenueTextBlockAbstract', window );"><strong>Revenue Recognition [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ScheduleOfDeferredRevenuesFromContractsWithCustomersTableTextBlock', window );">Schedule of deferred revenues from contracts with customers</a></td>
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<td style="width: 0in"/><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">*)</span></td><td style="text-align: justify">Included in Other long-term receivables in the consolidated
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    <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 6%; border-bottom: Black 4pt double; text-align: right">(5,416</td><td style="width: 1%; padding-bottom: 4pt; text-align: left">)</td><td style="width: 1%; padding-bottom: 4pt">&#160;</td>
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<tr class="ro">
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<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">449,391</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Selected Statements of Income Data (Tables)<br></strong></div></th>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ScheduleOfRevenuesClassifiedToGeographicalDestinationExplanatory', window );">Schedule of long-lived assets classified according to geographical destination</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%; text-align: justify; text-indent: -9pt; padding-left: 9pt">United States</td><td style="width: 1%">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ScheduleOfLonglivedAssetsExplanatory', window );">Schedule of long-lived assets classified according to geographical destination</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">14,611</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">17,484</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">9,315</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsExplanatory', window );">Schedule of consolidated statement of profit or loss</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="text-align: center; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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and<br/>
reclassifications</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">31,222</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">888</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">52,123</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(3,268</td><td style="text-align: left">)</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(3,802</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,817</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">35,339</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ScheduleOfEquityAttributableShareholdersTableTextBlock', window );">Schedule of consolidated statement of profit or loss</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"><b>&#160;</b></td><td style="padding-bottom: 1.5pt"><b>&#160;</b></td>
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  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt">Measurement adjustments related to redeemable non-controlling interests</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: justify; text-indent: 0in; padding-left: 0.125in">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt">As of January 1, 2021 in accordance with IFRS:</td><td style="padding-bottom: 4pt">&#160;</td>
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    <td style="padding: 0pt 0pt 0pt 0.125in; text-align: justify; text-indent: -0.125in">&#160;</td><td style="padding: 0pt; font-weight: bold; text-indent: 0pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt; width: 40%">As reported in the Company&#8217;s consolidated financial statements as of December 31, 2021 &#160;in accordance with U.S. GAAP:</td><td style="padding: 0pt; width: 1%; text-indent: 0pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 0.125in; text-align: justify; text-indent: -0.125in">&#160;</td><td style="padding: 0pt; text-indent: 0pt">&#160;</td>
    <td style="padding: 0pt; text-align: left; text-indent: 0pt">&#160;</td><td style="padding: 0pt; text-align: right; text-indent: 0pt">&#160;</td><td style="padding: 0pt; text-align: left; text-indent: 0pt">&#160;</td><td style="padding: 0pt; text-indent: 0pt">&#160;</td>
    <td style="padding: 0pt; text-align: left; text-indent: 0pt">&#160;</td><td style="padding: 0pt; text-align: right; text-indent: 0pt">&#160;</td><td style="padding: 0pt; text-align: left; text-indent: 0pt">&#160;</td><td style="padding: 0pt; text-indent: 0pt">&#160;</td>
    <td style="padding: 0pt; text-align: left; text-indent: 0pt">&#160;</td><td style="padding: 0pt; text-align: right; text-indent: 0pt">&#160;</td><td style="padding: 0pt; text-align: left; text-indent: 0pt">&#160;</td><td style="padding: 0pt; text-indent: 0pt">&#160;</td>
    <td style="padding: 0pt; text-align: left; text-indent: 0pt">&#160;</td><td style="padding: 0pt; text-align: right; text-indent: 0pt">&#160;</td><td style="padding: 0pt; text-align: left; text-indent: 0pt">&#160;</td><td style="padding: 0pt; text-indent: 0pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 0.125in; text-decoration: underline; text-align: justify; text-indent: -0.125in">Transition to IFRS:</td><td style="padding: 0pt; text-indent: 0pt">&#160;</td>
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    <td style="padding: 0pt; text-align: left; text-indent: 0pt">&#160;</td><td style="padding: 0pt; text-align: right; text-indent: 0pt">&#160;</td><td style="padding: 0pt; text-align: left; text-indent: 0pt">&#160;</td><td style="padding: 0pt; text-indent: 0pt">&#160;</td>
    <td style="padding: 0pt; text-align: left; text-indent: 0pt">&#160;</td><td style="padding: 0pt; text-align: right; text-indent: 0pt">&#160;</td><td style="padding: 0pt; text-align: left; text-indent: 0pt">&#160;</td><td style="padding: 0pt; text-indent: 0pt">&#160;</td>
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    <td style="padding: 0pt; text-align: left; text-indent: 0pt">&#160;</td><td style="padding: 0pt; text-align: right; text-indent: 0pt">&#160;</td><td style="padding: 0pt; text-align: left; text-indent: 0pt">&#160;</td><td style="padding: 0pt; text-indent: 0pt">&#160;</td>
    <td style="padding: 0pt; text-align: left; text-indent: 0pt">&#160;</td><td style="padding: 0pt; text-align: right; text-indent: 0pt">&#160;</td><td style="padding: 0pt; text-align: left; text-indent: 0pt">&#160;</td><td style="padding: 0pt; text-indent: 0pt">&#160;</td>
    <td style="padding: 0pt; text-align: left; text-indent: 0pt">&#160;</td><td style="padding: 0pt; text-align: right; text-indent: 0pt">&#160;</td><td style="padding: 0pt; text-align: left; text-indent: 0pt">&#160;</td><td style="padding: 0pt; text-indent: 0pt">&#160;</td>
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  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&#160;<span style="text-transform: uppercase"><b>&#160;</b></span></p><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of finance income. [Refer: Finance income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of operating segments. [Refer: Operating segments [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DisclosureOfTransitionToIfrsAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211608376048">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Jan. 01, 2021</div></th>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SignificantAccountingPoliciesDetailsLineItems', window );"><strong>Significant Accounting Policies (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_InterestRate', window );">Interest rate</a></td>
<td class="nump">3.54%<span></span>
</td>
<td class="nump">0.27%<span></span>
</td>
<td class="nump">0.27%<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets', window );">General and administrative (in Dollars)</a></td>
<td class="nump">$ 1,778<span></span>
</td>
<td class="nump">$ 892<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [member] | Computer software [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SignificantAccountingPoliciesDetailsLineItems', window );"><strong>Significant Accounting Policies (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_EstimatedUsefulLives', window );">Estimated useful life</a></td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [member] | Computer software [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SignificantAccountingPoliciesDetailsLineItems', window );"><strong>Significant Accounting Policies (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_EstimatedUsefulLives', window );">Estimated useful life</a></td>
<td class="text">7 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of additional allowance for credit losses of financial assets recognised in profit or loss. [Refer: Allowance account for credit losses of financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_16&amp;doctype=Standard&amp;book=b<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Estimated useful lives.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_EstimatedUsefulLives</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_InterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Interest rate.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_InterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_SignificantAccountingPoliciesDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_SignificantAccountingPoliciesDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_ComputerSoftwareMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_ComputerSoftwareMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>69
<FILENAME>R55.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
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</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211608447840">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Details) - Schedule of quantitative information about right of use assets<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_LandAndBuildingsMember', window );">Land and buildings [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SignificantAccountingPoliciesDetailsScheduleofquantitativeinformationaboutrightofuseassetsLineItems', window );"><strong>Significant Accounting Policies (Details) - Schedule of quantitative information about right of use assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_RightUseOfAsset', window );">Right use of asset</a></td>
<td class="text">3 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_MotorVehiclesMember', window );">Motor vehicles [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SignificantAccountingPoliciesDetailsScheduleofquantitativeinformationaboutrightofuseassetsLineItems', window );"><strong>Significant Accounting Policies (Details) - Schedule of quantitative information about right of use assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_RightUseOfAsset', window );">Right use of asset</a></td>
<td class="text">3 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [member] | Land and buildings [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SignificantAccountingPoliciesDetailsScheduleofquantitativeinformationaboutrightofuseassetsLineItems', window );"><strong>Significant Accounting Policies (Details) - Schedule of quantitative information about right of use assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_RightUseOfAsset', window );">Right use of asset</a></td>
<td class="text">1 year<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [member] | Motor vehicles [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SignificantAccountingPoliciesDetailsScheduleofquantitativeinformationaboutrightofuseassetsLineItems', window );"><strong>Significant Accounting Policies (Details) - Schedule of quantitative information about right of use assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_RightUseOfAsset', window );">Right use of asset</a></td>
<td class="text">1 year<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [member] | Land and buildings [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SignificantAccountingPoliciesDetailsScheduleofquantitativeinformationaboutrightofuseassetsLineItems', window );"><strong>Significant Accounting Policies (Details) - Schedule of quantitative information about right of use assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_RightUseOfAsset', window );">Right use of asset</a></td>
<td class="text">11 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [member] | Motor vehicles [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SignificantAccountingPoliciesDetailsScheduleofquantitativeinformationaboutrightofuseassetsLineItems', window );"><strong>Significant Accounting Policies (Details) - Schedule of quantitative information about right of use assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_RightUseOfAsset', window );">Right use of asset</a></td>
<td class="text">5 years<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_RightUseOfAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Right use of asset.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_RightUseOfAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_SignificantAccountingPoliciesDetailsScheduleofquantitativeinformationaboutrightofuseassetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_SignificantAccountingPoliciesDetailsScheduleofquantitativeinformationaboutrightofuseassetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_LandAndBuildingsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ifrs-full_LandAndBuildingsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_MotorVehiclesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ifrs-full_MotorVehiclesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>70
<FILENAME>R56.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211608787392">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Details) - Schedule of annual rates of depreciation - Bottom of range [member]<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Software [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SignificantAccountingPoliciesDetailsScheduleofannualratesofdepreciationLineItems', window );"><strong>Significant Accounting Policies (Details) - Schedule of annual rates of depreciation [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_EstimatedUsefulLifeOfAsset', window );">Estimated useful life of assets</a></td>
<td class="text">3&#8211;5 (mainly 5)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Computers and peripheral equipment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SignificantAccountingPoliciesDetailsScheduleofannualratesofdepreciationLineItems', window );"><strong>Significant Accounting Policies (Details) - Schedule of annual rates of depreciation [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_EstimatedUsefulLifeOfAsset', window );">Estimated useful life of assets</a></td>
<td class="text">3&#8211;5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Office furniture and equipment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SignificantAccountingPoliciesDetailsScheduleofannualratesofdepreciationLineItems', window );"><strong>Significant Accounting Policies (Details) - Schedule of annual rates of depreciation [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_EstimatedUsefulLifeOfAsset', window );">Estimated useful life of assets</a></td>
<td class="text">7&#8211;15 (mainly 7)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Motor vehicles [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SignificantAccountingPoliciesDetailsScheduleofannualratesofdepreciationLineItems', window );"><strong>Significant Accounting Policies (Details) - Schedule of annual rates of depreciation [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_EstimatedUsefulLifeOfAsset', window );">Estimated useful life of assets</a></td>
<td class="text">7<span></span>
</td>
</tr>
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<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Estimated useful life of assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_EstimatedUsefulLifeOfAsset</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_SignificantAccountingPoliciesDetailsScheduleofannualratesofdepreciationLineItems</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=mgic_softwareMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=mgic_softwareMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ComputerEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ComputerEquipmentMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=mgic_OfficeFurnitureAndEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=mgic_OfficeFurnitureAndEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_MotorVehiclesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_MotorVehiclesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<DOCUMENT>
<TYPE>XML
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211613667008">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Details) - Schedule of intangible assets with indefinite useful life<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=mgic_CustomerRelationshipMember', window );">Customer relationships [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SignificantAccountingPoliciesDetailsScheduleofintangibleassetswithindefiniteusefullifeLineItems', window );"><strong>Significant Accounting Policies (Details) - Schedule of intangible assets with indefinite useful life [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionAndCarryingAmountOfIntangibleAssetsWithIndefiniteUsefulLife', window );">Useful life of intangible asset</a></td>
<td class="text">Up to 15<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=mgic_AcquiredTechnologyMember', window );">Acquired Technology [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SignificantAccountingPoliciesDetailsScheduleofintangibleassetswithindefiniteusefullifeLineItems', window );"><strong>Significant Accounting Policies (Details) - Schedule of intangible assets with indefinite useful life [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionAndCarryingAmountOfIntangibleAssetsWithIndefiniteUsefulLife', window );">Useful life of intangible asset</a></td>
<td class="text">Up to 10 (mainly 5)<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionAndCarryingAmountOfIntangibleAssetsWithIndefiniteUsefulLife">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The description of intangible assets with indefinite useful life, supporting the assessment of indefinite useful life. [Refer: Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 122<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_122_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionAndCarryingAmountOfIntangibleAssetsWithIndefiniteUsefulLife</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_SignificantAccountingPoliciesDetailsScheduleofintangibleassetswithindefiniteusefullifeLineItems</td>
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<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=mgic_CustomerRelationshipMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=mgic_CustomerRelationshipMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=mgic_AcquiredTechnologyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>72
<FILENAME>R58.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211607367200">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Business Combinations (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="3">1 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 01, 2022</div></th>
<th class="th"><div>Apr. 01, 2022</div></th>
<th class="th"><div>Mar. 31, 2022</div></th>
<th class="th"><div>Jan. 27, 2022</div></th>
<th class="th"><div>Dec. 02, 2021</div></th>
<th class="th"><div>Jul. 04, 2021</div></th>
<th class="th"><div>Apr. 01, 2021</div></th>
<th class="th"><div>Jan. 01, 2021</div></th>
<th class="th"><div>Apr. 30, 2023</div></th>
<th class="th"><div>Aug. 23, 2022</div></th>
<th class="th"><div>Apr. 30, 2022</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_BusinessCombinationsDetailsLineItems', window );"><strong>Business Combinations (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OutstandingSharePercentage', window );">Outstanding share percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.10%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CompetitiveDigitalEcosystem', window );">Competitive digital ecosystem</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 21,492<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ClosingPayment', window );">Closing payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 11,042<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,000<span></span>
</td>
<td class="nump">$ 367<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 7,993<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdvancePaymentForFutureAcquisition', window );">Advance payment for future acquisition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PurchaseOfSharesHoldingPercentage', window );">Share purchase holding percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate', window );">Fair value of acquisition date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 10,450<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilitiesAtFairValue', window );">Fair value of financial liability</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 8,560<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SharesPercentage', window );">Shares percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital', window );">Net working capital adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 11,629<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CashConsiderationAmount', window );">Cash consideration amount</a></td>
<td class="nump">$ 3,428<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ConsiderationPaidReceived', window );">Consideration paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,753<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred', window );">Total consideration amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,000<span></span>
</td>
<td class="nump">1,134<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_EqualInstallments', window );">Equal installments amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContingentConsiderationRecognisedAsOfAcquisitionDate', window );">Contingent consideration amounted</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,595<span></span>
</td>
<td class="nump">$ 510<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SettlementOfLiabilitiesByEntityOnBehalfOfRelatedPartyRelatedPartyTransactions', window );">Settlement liabilities current</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,055<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PurchaseOfSharesPercentage', window );">Share purchase holding percentage (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 60<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PaidInCash', window );">Paid in cash</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 256<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_RemainingOptionInterestPecentage', window );">Option interest percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=mgic_NonadjustingEventAfterReportingPeriodMember', window );">Non-adjusting Events After Reporting Period [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_BusinessCombinationsDetailsLineItems', window );"><strong>Business Combinations (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SharesPercentage', window );">Shares percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=mgic_MenarvaLtdMember', window );">Menarva Ltd [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_BusinessCombinationsDetailsLineItems', window );"><strong>Business Combinations (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ClosingPayment', window );">Closing payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred', window );">Total consideration amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,595<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The acquisition-date fair value of equity interest in the acquiree held by the acquirer immediately before the acquisition date in a business combination achieved in stages. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph p<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_p_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fair value, at acquisition date, of the consideration transferred in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph f<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_f&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Adjustments, other than changes in working capital, to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 20<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ConsiderationPaidReceived">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of consideration paid or received in respect of both obtaining and losing control of subsidiaries or other businesses. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 40<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_40_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ConsiderationPaidReceived</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContingentConsiderationRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount, at acquisition date, of contingent consideration arrangements recognised as consideration transferred in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_g_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContingentConsiderationRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialLiabilitiesAtFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fair value of financial liabilities. [Refer: At fair value [member]; Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialLiabilitiesAtFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SettlementOfLiabilitiesByEntityOnBehalfOfRelatedPartyRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities settled by the entity on behalf of a related party in related party transactions. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 21<br> -Subparagraph j<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_21_j&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SettlementOfLiabilitiesByEntityOnBehalfOfRelatedPartyRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AdvancePaymentForFutureAcquisition">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Advance payment for future acquisition.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AdvancePaymentForFutureAcquisition</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_BusinessCombinationsDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_BusinessCombinationsDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CashConsiderationAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cash consideration amount.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CashConsiderationAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ClosingPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Closing payment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ClosingPayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CompetitiveDigitalEcosystem">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Competitive digital ecosystem.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CompetitiveDigitalEcosystem</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_EqualInstallments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Equal installments amount.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_EqualInstallments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_OutstandingSharePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Outstanding share percentage.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_OutstandingSharePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_PaidInCash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Paid in cash.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_PaidInCash</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_PurchaseOfSharesHoldingPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Purchase of shares holding percentage.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_PurchaseOfSharesHoldingPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_PurchaseOfSharesPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_PurchaseOfSharesPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_RemainingOptionInterestPecentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The percentage of remaining option interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_RemainingOptionInterestPecentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_SharesPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of shares.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_SharesPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=mgic_NonadjustingEventAfterReportingPeriodMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=mgic_NonadjustingEventAfterReportingPeriodMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=mgic_MenarvaLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=mgic_MenarvaLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>73
<FILENAME>R59.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211616189440">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities - Share purchase agreement [Member]<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Jan. 27, 2022 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesLineItems', window );"><strong>Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_NetLiabilitiesExcludingCashAcquired', window );">Net liabilities, excluding $1,548 of cash acquired</a></td>
<td class="num">$ (2,762)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IntangibleAssetsNetOfDeferredTaxLiabilities', window );">Intangible assets, net of deferred tax liabilities</a></td>
<td class="nump">7,445<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GoodwillExpectedDeductibleForTaxPurposes', window );">Goodwill</a></td>
<td class="nump">15,261<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate', window );">Total assets acquired</a></td>
<td class="nump">$ 19,944<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for current assets acquired in a business combination. [Refer: Current assets; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GoodwillExpectedDeductibleForTaxPurposes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of goodwill in a business combination that is expected to be deductible for tax purposes. [Refer: Goodwill; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph k<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_k&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GoodwillExpectedDeductibleForTaxPurposes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_IntangibleAssetsNetOfDeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Intangible assets, net of deferred tax liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_IntangibleAssetsNetOfDeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_NetLiabilitiesExcludingCashAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Net liabilities excluding of cash acquired.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_NetLiabilitiesExcludingCashAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=mgic_SharePurchaseAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=mgic_SharePurchaseAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>74
<FILENAME>R60.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211651116592">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities (Parentheticals)<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Jan. 27, 2022 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=mgic_SharePurchaseAgreementMember', window );">Share purchase agreement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesParentheticalsLineItems', window );"><strong>Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities (Parentheticals) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_NetLiabilitiesExcludingOfCashAcquired', window );">Net liabilities excluding of cash acquired</a></td>
<td class="nump">$ 1,548<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesParentheticalsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesParentheticalsLineItems</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_NetLiabilitiesExcludingOfCashAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Net liabilities excluding of cash acquired.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_NetLiabilitiesExcludingOfCashAcquired</td>
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<td>mgic_</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=mgic_SharePurchaseAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=mgic_SharePurchaseAgreementMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614738128">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities - Goodkind Group, LLC [Member]<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Aug. 23, 2022 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesLineItems', window );"><strong>Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_NetAssetsExcludingOfCashAcquired', window );">Net assets, excluding $147 of cash acquired</a></td>
<td class="nump">$ 3,177<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IntangibleAssetsNetOfDeferredTaxLiabilities', window );">Customer relationships, net of deferred tax liabilities</a></td>
<td class="nump">3,901<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GoodwillExpectedDeductibleForTaxPurposes', window );">Goodwill</a></td>
<td class="nump">4,404<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate', window );">Total assets acquired</a></td>
<td class="nump">$ 11,482<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for current assets acquired in a business combination. [Refer: Current assets; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GoodwillExpectedDeductibleForTaxPurposes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of goodwill in a business combination that is expected to be deductible for tax purposes. [Refer: Goodwill; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph k<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_k&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GoodwillExpectedDeductibleForTaxPurposes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesLineItems</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_IntangibleAssetsNetOfDeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Intangible assets, net of deferred tax liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_IntangibleAssetsNetOfDeferredTaxLiabilities</td>
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<td>mgic_</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_NetAssetsExcludingOfCashAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Net assets excluding of cash acquired.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_NetAssetsExcludingOfCashAcquired</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=mgic_GoodkindGroupLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=mgic_GoodkindGroupLLCMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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</div></td></tr>
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<DOCUMENT>
<TYPE>XML
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211616113792">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities (Parentheticals)<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Aug. 23, 2022 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=mgic_GoodkindGroupLLCMember', window );">Goodkind Group, LLC [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesParentheticalsLineItems', window );"><strong>Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities (Parentheticals) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_NetLiabilitiesExcludingOfCashAcquired', window );">Net liabilities excluding of cash acquired</a></td>
<td class="nump">$ 147<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesParentheticalsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesParentheticalsLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_NetLiabilitiesExcludingOfCashAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Net liabilities excluding of cash acquired.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_NetLiabilitiesExcludingOfCashAcquired</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=mgic_GoodkindGroupLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=mgic_GoodkindGroupLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
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<DOCUMENT>
<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211651220624">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities - IT professional services [Member]<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Jul. 01, 2022 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesLineItems', window );"><strong>Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NetDeferredTaxLiabilities', window );">Net assets, excluding $447 of cash acquired</a></td>
<td class="nump">$ 120<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IntangibleAssetsNetOfDeferredTaxLiabilities', window );">Customer relationships, net of deferred tax liabilities</a></td>
<td class="nump">1,054<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GoodwillExpectedDeductibleForTaxPurposes', window );">Goodwill</a></td>
<td class="nump">1,807<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate', window );">Total assets acquired</a></td>
<td class="nump">$ 2,981<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for current assets acquired in a business combination. [Refer: Current assets; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GoodwillExpectedDeductibleForTaxPurposes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of goodwill in a business combination that is expected to be deductible for tax purposes. [Refer: Goodwill; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph k<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_k&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GoodwillExpectedDeductibleForTaxPurposes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax liabilities net of deferred tax assets, when the absolute amount of deferred tax liabilities is greater than the absolute amount of deferred tax assets. [Refer: Deferred tax assets; Deferred tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_IntangibleAssetsNetOfDeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Intangible assets, net of deferred tax liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_IntangibleAssetsNetOfDeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=mgic_ITProfessionalServicesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=mgic_ITProfessionalServicesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211616197648">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities (Parentheticals)<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Jul. 01, 2022 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=mgic_ITProfessionalServicesMember', window );">IT professional services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesParentheticalsLineItems', window );"><strong>Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities (Parentheticals) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_NetLiabilitiesExcludingOfCashAcquired', window );">Net liabilities excluding of cash acquired</a></td>
<td class="nump">$ 447<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesParentheticalsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesParentheticalsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_NetLiabilitiesExcludingOfCashAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Net liabilities excluding of cash acquired.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_NetLiabilitiesExcludingOfCashAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=mgic_ITProfessionalServicesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=mgic_ITProfessionalServicesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>79
<FILENAME>R65.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211607852016">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities - Asset Purchase Agreements [Member]<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2022 </div>
<div>USD ($)</div>
</th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesLineItems', window );"><strong>Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NetAssetsLiabilities', window );">Net liabilities</a></td>
<td class="num">$ (308)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CustomerRelationshipsNetOfDeferredTaxLiabilities', window );">Customer relationships, net of deferred tax liabilities</a></td>
<td class="nump">1,163<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GoodwillRecognisedAsOfAcquisitionDate', window );">Goodwill</a></td>
<td class="nump">898<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CurrentAssetsRecognisedAsOfAcquisition', window );">Total assets acquired</a></td>
<td class="nump">$ 1,753<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GoodwillRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the business combination's acquisition date for goodwill. [Refer: Goodwill; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph IE72<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GoodwillRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetAssetsLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets less the amount of liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph IG63<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IG63&amp;doctype=Implementation%20Guidance<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetAssetsLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CurrentAssetsRecognisedAsOfAcquisition">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for current assets acquired in a business combination.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CurrentAssetsRecognisedAsOfAcquisition</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CustomerRelationshipsNetOfDeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Customer relationships, net of deferred tax liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CustomerRelationshipsNetOfDeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<td><strong> Data Type:</strong></td>
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<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=mgic_AssetPurchaseAgreementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=mgic_AssetPurchaseAgreementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<DOCUMENT>
<TYPE>XML
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211607990960">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities - EnableIT, LLC [Member]<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Apr. 01, 2021 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesLineItems', window );"><strong>Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_NetLiabilitiesExcludeOfCashAcquired', window );">Net liabilities, excluding $42 of cash acquired</a></td>
<td class="num">$ (34)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CustomerRelationshipsNetOfDeferredTaxLiabilitys', window );">Customer relationships, net of deferred tax liability</a></td>
<td class="nump">1,833<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UnallocatedGoodwill', window );">Goodwill</a></td>
<td class="nump">4,101<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalAssetsAcquired', window );">Total assets acquired</a></td>
<td class="nump">$ 5,900<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_UnallocatedGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of goodwill acquired in a business combination that has not been allocated to a cash-generating unit (group of units). [Refer: Goodwill; Cash-generating units [member]; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2022-03-24<br> -Paragraph 133<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_133&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_UnallocatedGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CustomerRelationshipsNetOfDeferredTaxLiabilitys">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Customer relationships, net of deferred tax liability.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CustomerRelationshipsNetOfDeferredTaxLiabilitys</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_NetLiabilitiesExcludeOfCashAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Net liabilities, excluding of cash acquired</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_NetLiabilitiesExcludeOfCashAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_TotalAssetsAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total assets acquired.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_TotalAssetsAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=mgic_EnableITLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=mgic_EnableITLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
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</html>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>81
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614518656">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities (Parentheticals)<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Apr. 01, 2021 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=mgic_EnableITLLCMember', window );">EnableIT, LLC [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesParentheticalsLineItems', window );"><strong>Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities (Parentheticals) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_NetLiabilitiesExcludingOfCashAcquires', window );">Net liabilities excluding of cash acquired</a></td>
<td class="nump">$ 42<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesParentheticalsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesParentheticalsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<td>xbrli:stringItemType</td>
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<td>na</td>
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<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_NetLiabilitiesExcludingOfCashAcquires">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_NetLiabilitiesExcludingOfCashAcquires</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=mgic_EnableITLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=mgic_EnableITLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
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<DOCUMENT>
<TYPE>XML
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<FILENAME>R68.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211607988992">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities - Menarva Ltd [Member]<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Apr. 01, 2021 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesLineItems', window );"><strong>Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NetDeferredTaxLiabilities', window );">Net liabilities, excluding $90 of cash acquired</a></td>
<td class="num">$ (70)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IntangibleAssetsNetOfDeferredTaxLiabilities', window );">Customer relationships, net of deferred tax liability</a></td>
<td class="nump">2,098<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GoodwillExpectedDeductibleForTaxPurposes', window );">Goodwill</a></td>
<td class="nump">3,477<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate', window );">Total assets acquired</a></td>
<td class="nump">$ 5,505<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for current assets acquired in a business combination. [Refer: Current assets; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GoodwillExpectedDeductibleForTaxPurposes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of goodwill in a business combination that is expected to be deductible for tax purposes. [Refer: Goodwill; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph k<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_k&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GoodwillExpectedDeductibleForTaxPurposes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax liabilities net of deferred tax assets, when the absolute amount of deferred tax liabilities is greater than the absolute amount of deferred tax assets. [Refer: Deferred tax assets; Deferred tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesLineItems</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_IntangibleAssetsNetOfDeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Intangible assets, net of deferred tax liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_IntangibleAssetsNetOfDeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=mgic_MenarvaLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=mgic_MenarvaLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211641251040">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities (Parentheticals)<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Apr. 01, 2021 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=mgic_MenarvaLtdMember', window );">Menarva Ltd [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesParentheticalsLineItems', window );"><strong>Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities (Parentheticals) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_NetLiabilitiesExcludingOfCashAcquired', window );">Net liabilities excluding of cash acquired</a></td>
<td class="nump">$ 90<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesParentheticalsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesParentheticalsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_NetLiabilitiesExcludingOfCashAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Net liabilities excluding of cash acquired.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_NetLiabilitiesExcludingOfCashAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=mgic_MenarvaLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=mgic_MenarvaLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>84
<FILENAME>R70.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
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</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211616255136">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities - Y.G. Soft IT Ltd [Member]<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Jan. 01, 2021 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesLineItems', window );"><strong>Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NetDeferredTaxLiabilities', window );">Net liabilities, excluding $402 cash acquired</a></td>
<td class="num">$ (402)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IntangibleAssetsNetOfDeferredTaxLiabilities', window );">Customer relationships, net of deferred tax liability</a></td>
<td class="nump">886<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_RedeemableNoncontrollingInterest', window );">Redeemable non-controlling interests</a></td>
<td class="num">(719)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GoodwillExpectedDeductibleForTaxPurposes', window );">Goodwill</a></td>
<td class="nump">967<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate', window );">Total assets acquired</a></td>
<td class="nump">$ 732<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for current assets acquired in a business combination. [Refer: Current assets; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GoodwillExpectedDeductibleForTaxPurposes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of goodwill in a business combination that is expected to be deductible for tax purposes. [Refer: Goodwill; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph k<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_k&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GoodwillExpectedDeductibleForTaxPurposes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax liabilities net of deferred tax assets, when the absolute amount of deferred tax liabilities is greater than the absolute amount of deferred tax assets. [Refer: Deferred tax assets; Deferred tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_IntangibleAssetsNetOfDeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Intangible assets, net of deferred tax liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_IntangibleAssetsNetOfDeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_RedeemableNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Redeemable non-controlling interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_RedeemableNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=mgic_YGSoftITLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=mgic_YGSoftITLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211682156112">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities (Parentheticals)<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Jan. 01, 2021 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=mgic_YGSoftITLtdMember', window );">Y.G. Soft IT Ltd [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesParentheticalsLineItems', window );"><strong>Business Combinations (Details) - Schedule of estimated fair values of the assets acquired and liabilities (Parentheticals) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_NetLiabilitiesExcludingOfCashAcquired', window );">Net liabilities excluding of cash acquired</a></td>
<td class="nump">$ 402<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesParentheticalsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_BusinessCombinationsDetailsScheduleofestimatedfairvaluesoftheassetsacquiredandliabilitiesParentheticalsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_NetLiabilitiesExcludingOfCashAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Net liabilities excluding of cash acquired.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_NetLiabilitiesExcludingOfCashAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=mgic_YGSoftITLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=mgic_YGSoftITLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>86
<FILENAME>R72.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211608445312">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Cash and Cash Equivalents (Details) - Schedule of cash and cash equivalents - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 01, 2021</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CashandCashEquivalentsDetailsScheduleofcashandcashequivalentsLineItems', window );"><strong>Schedule Of Cash And Cash Equivalents [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CashAndDepositsForImmediateWithdrawal', window );">Cash and deposits for immediate withdrawal</a></td>
<td class="nump">$ 83,306<span></span>
</td>
<td class="nump">$ 78,489<span></span>
</td>
<td class="nump">$ 82,302<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CashEquivalentsInNISdenominatedDeposit', window );">Cash equivalents in NIS-denominated deposit</a></td>
<td class="nump">4,821<span></span>
</td>
<td class="nump">4,573<span></span>
</td>
<td class="nump">5,788<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 88,127<span></span>
</td>
<td class="nump">$ 83,062<span></span>
</td>
<td class="nump">$ 88,090<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of cash and cash equivalents that the entity does not separately disclose in the same statement or note. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CashAndDepositsForImmediateWithdrawal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cash and deposits for immediate withdrawal.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CashAndDepositsForImmediateWithdrawal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CashEquivalentsInNISdenominatedDeposit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cash equivalents in NIS-denominated deposit.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CashEquivalentsInNISdenominatedDeposit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CashandCashEquivalentsDetailsScheduleofcashandcashequivalentsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CashandCashEquivalentsDetailsScheduleofcashandcashequivalentsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<DOCUMENT>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211607252304">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Other Accounts Receivavable And Prepaid Expesnes (Details) - Schedule of other accounts receivable and prepaid expenses - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Jan. 01, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OtherAccountsReceivavableAndPrepaidExpesnesDetailsScheduleofotheraccountsreceivableandprepaidexpensesLineItems', window );"><strong>Schedule of Other Accounts Receivable and Prepaid Expenses [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentPrepaidExpenses', window );">Prepaid expenses</a></td>
<td class="nump">$ 4,262<span></span>
</td>
<td class="nump">$ 4,578<span></span>
</td>
<td class="nump">$ 3,581<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GovernmentGrants', window );">Government authorities</a></td>
<td class="nump">3,659<span></span>
</td>
<td class="nump">3,601<span></span>
</td>
<td class="nump">3,005<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesToRelatedParties', window );">Related parties</a></td>
<td class="nump">3,077<span></span>
</td>
<td class="nump">29<span></span>
</td>
<td class="nump">615<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherPayables', window );">Others</a></td>
<td class="nump">2,654<span></span>
</td>
<td class="nump">2,819<span></span>
</td>
<td class="nump">4,550<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeReceivables', window );">Total</a></td>
<td class="nump">$ 13,652<span></span>
</td>
<td class="nump">$ 11,027<span></span>
</td>
<td class="nump">$ 11,751<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentPrepaidExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as a current asset for expenditures made prior to the period when the economic benefit will be realised.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentPrepaidExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GovernmentGrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assistance by government in the form of transfers of resources to an entity in return for past or future compliance with certain conditions relating to the operating activities of the entity, recognised as deferred income. They exclude those forms of government assistance that cannot reasonably have a value placed upon them and transactions with government that cannot be distinguished from the normal trading transactions of the entity. [Refer: Deferred income other than contract liabilities; Government [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GovernmentGrants</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amounts payable that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherPayables</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherPayablesToRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of payables due to related parties. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherPayablesToRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount due from customers for goods and services sold.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeReceivables</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_OtherAccountsReceivavableAndPrepaidExpesnesDetailsScheduleofotheraccountsreceivableandprepaidexpensesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_OtherAccountsReceivavableAndPrepaidExpesnesDetailsScheduleofotheraccountsreceivableandprepaidexpensesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
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<td>duration</td>
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<DOCUMENT>
<TYPE>XML
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<FILENAME>R74.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211608799392">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Fair Value Measurement (Details) - Schedule of financial assets and liabilities measured at fair value on a recurring basis - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Jan. 01, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LiabilityInRespectOfBusinessCombinations', window );">Liability in respect of business combinations</a></td>
<td class="nump">$ 19,693<span></span>
</td>
<td class="nump">$ 17,772<span></span>
</td>
<td class="nump">$ 10,561<span></span>
</td>
<td class="nump">$ 10,561<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PutOptionsOfNoncontrollingInterestsliabilities', window );">Put options of non-controlling interests</a></td>
<td class="nump">28,292<span></span>
</td>
<td class="nump">29,334<span></span>
</td>
<td class="nump">23,926<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total</a></td>
<td class="nump">47,985<span></span>
</td>
<td class="nump">47,106<span></span>
</td>
<td class="nump">34,487<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 of fair value hierarchy [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LiabilityInRespectOfBusinessCombinations', window );">Liability in respect of business combinations</a></td>
<td class="nump">19,693<span></span>
</td>
<td class="nump">17,772<span></span>
</td>
<td class="nump">10,561<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PutOptionsOfNoncontrollingInterestsliabilities', window );">Put options of non-controlling interests</a></td>
<td class="nump">28,292<span></span>
</td>
<td class="nump">29,334<span></span>
</td>
<td class="nump">23,926<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total</a></td>
<td class="nump">$ 47,985<span></span>
</td>
<td class="nump">$ 47,106<span></span>
</td>
<td class="nump">$ 34,487<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that are: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or (b) a contract that will, or may be, settled in the entity&#8217;s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to deliver a variable number of the entity&#8217;s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity&#8217;s own equity instruments. For this purpose, rights, options or warrants to acquire a fixed number of the entity&#8217;s own equity instruments for a fixed amount of any currency are equity instruments if the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own non-derivative equity instruments. Also, for those purposes the entity&#8217;s own equity instruments do not include puttable financial instruments that are classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity&#8217;s own equity instruments. As an exception, an instrument that meets the definition of a financial liability is classified as an equity instrument if it has all the features and meets the conditions in paragraphs 16A-16B or paragraphs 16C-16D of IAS 32. [Refer: Financial instruments, class [member]; Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialLiabilities</td>
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<tr>
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<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LiabilityInRespectOfBusinessCombinations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LiabilityInRespectOfBusinessCombinations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_PutOptionsOfNoncontrollingInterestsliabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of put options of non-controlling interests liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_PutOptionsOfNoncontrollingInterestsliabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>89
<FILENAME>R75.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
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</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211608290960">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair Value Measurement (Details) - Schedule of liabilities in respect of the business combinations - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_FairValueMeasurementDetailsScheduleofliabilitiesinrespectofthebusinesscombinationsLineItems', window );"><strong>Schedule Of Liabilities In Respect Of The Business Combinations [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LiabilityInRespectOfBusinessCombinations', window );">Opening balance</a></td>
<td class="nump">$ 17,772<span></span>
</td>
<td class="nump">$ 10,561<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInContingentConsiderationAssetLiability', window );">Increase in contingent consideration due to acquisitions</a></td>
<td class="nump">10,670<span></span>
</td>
<td class="nump">3,098<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PaymentOfContingentConsideration', window );">Payment of contingent consideration</a></td>
<td class="num">(8,547)<span></span>
</td>
<td class="num">(1,816)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IncreaseInFairValueOfContingentConsideration', window );">Increase in fair value of contingent consideration</a></td>
<td class="nump">119<span></span>
</td>
<td class="nump">3,476<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DecreaseInFairValueOfContingentConsideration', window );">Decrease in fair value of contingent consideration</a></td>
<td class="num">(1,025)<span></span>
</td>
<td class="num">(244)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ForeignCurrencyTranslationAdjustments', window );">Foreign currency translation adjustments</a></td>
<td class="num">(598)<span></span>
</td>
<td class="num">(36)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AmortizationOfInterestAndExchangeRate', window );">Amortization of interest and exchange rate</a></td>
<td class="nump">1,302<span></span>
</td>
<td class="nump">2,661<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LiabilityInRespectOfBusinessCombinations', window );">Closing balance</a></td>
<td class="nump">$ 19,693<span></span>
</td>
<td class="nump">$ 17,772<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInContingentConsiderationAssetLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in a contingent consideration asset (liability) relating to a business combination.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B67<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B67_b_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInContingentConsiderationAssetLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AmortizationOfInterestAndExchangeRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AmortizationOfInterestAndExchangeRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DecreaseInFairValueOfContingentConsideration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DecreaseInFairValueOfContingentConsideration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_FairValueMeasurementDetailsScheduleofliabilitiesinrespectofthebusinesscombinationsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_FairValueMeasurementDetailsScheduleofliabilitiesinrespectofthebusinesscombinationsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ForeignCurrencyTranslationAdjustments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ForeignCurrencyTranslationAdjustments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_IncreaseInFairValueOfContingentConsideration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_IncreaseInFairValueOfContingentConsideration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LiabilityInRespectOfBusinessCombinations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LiabilityInRespectOfBusinessCombinations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_PaymentOfContingentConsideration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_PaymentOfContingentConsideration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>90
<FILENAME>R76.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211608267360">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair Value Measurement (Details) - Schedule of financial assets and liabilities in the consolidated statements of financial position - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jan. 01, 2021</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CondensedBalanceSheetStatementsCaptionsLineItems', window );"><strong>Schedule Of Financial Assets And Liabilities In The Consolidated Statements Of Financial Position [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 88,127<span></span>
</td>
<td class="nump">$ 83,062<span></span>
</td>
<td class="nump">$ 88,090<span></span>
</td>
<td class="nump">$ 88,127<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents', window );">Short-term bank deposits</a></td>
<td class="nump">289<span></span>
</td>
<td class="nump">3,904<span></span>
</td>
<td class="nump">5,586<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtAmortisedCost', window );">Total financial assets at cost</a></td>
<td class="nump">88,416<span></span>
</td>
<td class="nump">86,966<span></span>
</td>
<td class="nump">93,676<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total financial assets</a></td>
<td class="nump">88,416<span></span>
</td>
<td class="nump">86,966<span></span>
</td>
<td class="nump">93,676<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PutOptionsOfNoncontrollingInterests', window );">Put options of non-controlling interests</a></td>
<td class="nump">23,926<span></span>
</td>
<td class="nump">28,292<span></span>
</td>
<td class="nump">29,334<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LiabilityInRespectOfBusinessCombination', window );">Liability in respect of business combinations</a></td>
<td class="nump">15,924<span></span>
</td>
<td class="nump">24,663<span></span>
</td>
<td class="nump">20,527<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LoansFromBankAndFinancialInstitutions', window );">Loans from bank and financial institutions (short-term and long-term debt)</a></td>
<td class="nump">24,950<span></span>
</td>
<td class="nump">51,167<span></span>
</td>
<td class="nump">37,263<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GrossLeaseLiabilities', window );">Lease liabilities</a></td>
<td class="nump">25,022<span></span>
</td>
<td class="nump">28,873<span></span>
</td>
<td class="nump">25,174<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilitiesAtAmortisedCost', window );">Total financial liabilities measured at amortized cost:</a></td>
<td class="nump">49,972<span></span>
</td>
<td class="nump">80,040<span></span>
</td>
<td class="nump">62,437<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalFinancialsAndLeaseLiabilities', window );">Total financial and lease liabilities</a></td>
<td class="nump">$ 89,821<span></span>
</td>
<td class="nump">$ 132,995<span></span>
</td>
<td class="nump">$ 112,298<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B13<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that are: (a) cash; (b) an equity instrument of another entity; (c) a contractual right: (i) to receive cash or another financial asset from another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the entity; or (d) a contract that will, or may be, settled in the entity&#8217;s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to receive a variable number of the entity&#8217;s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity&#8217;s own equity instruments. For this purpose the entity&#8217;s own equity instruments do not include puttable financial instruments classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity&#8217;s own equity instruments. [Refer: Financial instruments, class [member]; Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 35H<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35H&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 35M<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35M&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 35N<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35N&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 35I<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35I&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssetsAtAmortisedCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of financial assets at amortised cost. The amortised cost is the amount at which financial assets are measured at initial recognition minus principal repayments, plus or minus the cumulative amortisation using the effective interest method of any difference between that initial amount and the maturity amount, and adjusted for any impairment. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 8<br> -Subparagraph f<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_8_f&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssetsAtAmortisedCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialLiabilitiesAtAmortisedCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of financial liabilities at amortised cost. The amortised cost is the amount at which financial liabilities are measured at initial recognition minus principal repayments, plus or minus the cumulative amortisation using the effective interest method of any difference between that initial amount and the maturity amount. [Refer: Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 8<br> -Subparagraph g<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_8_g&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2023-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 8<br> -Subparagraph f<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_8_f&amp;doctype=Standard&amp;book=b<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialLiabilitiesAtAmortisedCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GrossLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of contractual undiscounted cash flows in relation to lease liabilities before deducting finance charges. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 58<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_58&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph B11D<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B11D_a&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GrossLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A classification of cash equivalents representing short-term deposits. [Refer: Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LiabilityInRespectOfBusinessCombination">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Liability in respect of business combination.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LiabilityInRespectOfBusinessCombination</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LoansFromBankAndFinancialInstitutions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LoansFromBankAndFinancialInstitutions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_PutOptionsOfNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-controlling interests.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_PutOptionsOfNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_TotalFinancialsAndLeaseLiabilities">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_TotalFinancialsAndLeaseLiabilities</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td>instant</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CondensedBalanceSheetStatementsCaptionsLineItems</td>
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<td>srt_</td>
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<td>xbrli:stringItemType</td>
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<tr>
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<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211606247648">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property , Plants and Equipment , Net (Details) - Schedule of the composition and movement - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Jan. 01, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PropertyPlantsandEquipmentNetDetailsScheduleofthecompositionandmovementLineItems', window );"><strong>Disclosure Of Property Plant And Equipment [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAtBeginnings', window );">Cost at beginning</a></td>
<td class="nump">$ 18,737<span></span>
</td>
<td class="nump">$ 17,291<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdditionsDuringTheYearAbstract', window );"><strong>Additions during the year:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostPurchases', window );">Cost Purchases</a></td>
<td class="nump">4,381<span></span>
</td>
<td class="nump">1,439<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAcquisition', window );">Cost Acquisitions of subsidiaries</a></td>
<td class="nump">179<span></span>
</td>
<td class="nump">136<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations', window );">Cost Adjustments arising from translating financial statements of foreign operations</a></td>
<td class="num">(628)<span></span>
</td>
<td class="num">(34)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostDisposals', window );">Cost Disposals</a></td>
<td class="num">(1,012)<span></span>
</td>
<td class="num">(95)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAtBeginnings', window );">Cost at ending</a></td>
<td class="nump">21,657<span></span>
</td>
<td class="nump">18,737<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationAtBeginning', window );">Accumulated depreciation at beginning</a></td>
<td class="nump">12,865<span></span>
</td>
<td class="nump">11,303<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdditionsDuringTheYearAbstract0', window );"><strong>Additions during the year:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationDepreciation', window );">Accumulated depreciation Depreciation</a></td>
<td class="nump">1,910<span></span>
</td>
<td class="nump">1,796<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationDisposals', window );">Accumulated depreciation Disposals</a></td>
<td class="num">(930)<span></span>
</td>
<td class="num">(95)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp', window );">Accumulated depreciation, Adjustments arising from translating financial statements of foreign operations</a></td>
<td class="num">(526)<span></span>
</td>
<td class="num">(139)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationAtBeginning', window );">Accumulated depreciation at ending</a></td>
<td class="nump">13,319<span></span>
</td>
<td class="nump">12,865<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationDepreciatedCosts', window );">Depreciated cost at ending</a></td>
<td class="nump">8,338<span></span>
</td>
<td class="nump">5,872<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationDepreciatedCostsBeginning', window );">Depreciated cost at beginning</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,988<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=mgic_softwareMember', window );">Software [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PropertyPlantsandEquipmentNetDetailsScheduleofthecompositionandmovementLineItems', window );"><strong>Disclosure Of Property Plant And Equipment [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAtBeginnings', window );">Cost at beginning</a></td>
<td class="nump">1,623<span></span>
</td>
<td class="nump">1,621<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdditionsDuringTheYearAbstract', window );"><strong>Additions during the year:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostPurchases', window );">Cost Purchases</a></td>
<td class="nump">110<span></span>
</td>
<td class="nump">88<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAcquisition', window );">Cost Acquisitions of subsidiaries</a></td>
<td class="nump">4<span></span>
</td>
<td class="nump">8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations', window );">Cost Adjustments arising from translating financial statements of foreign operations</a></td>
<td class="num">(220)<span></span>
</td>
<td class="num">(89)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostDisposals', window );">Cost Disposals</a></td>
<td class="num">(25)<span></span>
</td>
<td class="num">(5)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAtBeginnings', window );">Cost at ending</a></td>
<td class="nump">1,492<span></span>
</td>
<td class="nump">1,623<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationAtBeginning', window );">Accumulated depreciation at beginning</a></td>
<td class="nump">1,510<span></span>
</td>
<td class="nump">1,458<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdditionsDuringTheYearAbstract0', window );"><strong>Additions during the year:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationDepreciation', window );">Accumulated depreciation Depreciation</a></td>
<td class="nump">47<span></span>
</td>
<td class="nump">103<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationDisposals', window );">Accumulated depreciation Disposals</a></td>
<td class="num">(23)<span></span>
</td>
<td class="num">(5)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp', window );">Accumulated depreciation, Adjustments arising from translating financial statements of foreign operations</a></td>
<td class="num">(135)<span></span>
</td>
<td class="num">(46)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationAtBeginning', window );">Accumulated depreciation at ending</a></td>
<td class="nump">1,399<span></span>
</td>
<td class="nump">1,510<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationDepreciatedCosts', window );">Depreciated cost at ending</a></td>
<td class="nump">93<span></span>
</td>
<td class="nump">113<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationDepreciatedCostsBeginning', window );">Depreciated cost at beginning</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">163<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=ifrs-full_MotorVehiclesMember', window );">Motor vehicles [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PropertyPlantsandEquipmentNetDetailsScheduleofthecompositionandmovementLineItems', window );"><strong>Disclosure Of Property Plant And Equipment [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAtBeginnings', window );">Cost at beginning</a></td>
<td class="nump">1,444<span></span>
</td>
<td class="nump">1,411<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdditionsDuringTheYearAbstract', window );"><strong>Additions during the year:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostPurchases', window );">Cost Purchases</a></td>
<td class="nump">9<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAcquisition', window );">Cost Acquisitions of subsidiaries</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations', window );">Cost Adjustments arising from translating financial statements of foreign operations</a></td>
<td class="num">(181)<span></span>
</td>
<td class="nump">30<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostDisposals', window );">Cost Disposals</a></td>
<td class="num">(2)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAtBeginnings', window );">Cost at ending</a></td>
<td class="nump">1,270<span></span>
</td>
<td class="nump">1,444<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationAtBeginning', window );">Accumulated depreciation at beginning</a></td>
<td class="nump">1,240<span></span>
</td>
<td class="nump">866<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdditionsDuringTheYearAbstract0', window );"><strong>Additions during the year:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationDepreciation', window );">Accumulated depreciation Depreciation</a></td>
<td class="nump">4<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationDisposals', window );">Accumulated depreciation Disposals</a></td>
<td class="num">(2)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp', window );">Accumulated depreciation, Adjustments arising from translating financial statements of foreign operations</a></td>
<td class="num">(152)<span></span>
</td>
<td class="nump">370<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationAtBeginning', window );">Accumulated depreciation at ending</a></td>
<td class="nump">1,090<span></span>
</td>
<td class="nump">1,240<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationDepreciatedCosts', window );">Depreciated cost at ending</a></td>
<td class="nump">180<span></span>
</td>
<td class="nump">204<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationDepreciatedCostsBeginning', window );">Depreciated cost at beginning</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">545<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=mgic_OfficeFurnitureAndEquipmentMember', window );">Office furniture and equipment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PropertyPlantsandEquipmentNetDetailsScheduleofthecompositionandmovementLineItems', window );"><strong>Disclosure Of Property Plant And Equipment [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAtBeginnings', window );">Cost at beginning</a></td>
<td class="nump">3,839<span></span>
</td>
<td class="nump">3,627<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdditionsDuringTheYearAbstract', window );"><strong>Additions during the year:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostPurchases', window );">Cost Purchases</a></td>
<td class="nump">1,365<span></span>
</td>
<td class="nump">453<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAcquisition', window );">Cost Acquisitions of subsidiaries</a></td>
<td class="nump">55<span></span>
</td>
<td class="nump">40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations', window );">Cost Adjustments arising from translating financial statements of foreign operations</a></td>
<td class="num">(555)<span></span>
</td>
<td class="num">(253)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostDisposals', window );">Cost Disposals</a></td>
<td class="num">(309)<span></span>
</td>
<td class="num">(28)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAtBeginnings', window );">Cost at ending</a></td>
<td class="nump">4,395<span></span>
</td>
<td class="nump">3,839<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationAtBeginning', window );">Accumulated depreciation at beginning</a></td>
<td class="nump">2,480<span></span>
</td>
<td class="nump">2,340<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdditionsDuringTheYearAbstract0', window );"><strong>Additions during the year:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationDepreciation', window );">Accumulated depreciation Depreciation</a></td>
<td class="nump">583<span></span>
</td>
<td class="nump">530<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationDisposals', window );">Accumulated depreciation Disposals</a></td>
<td class="num">(284)<span></span>
</td>
<td class="num">(28)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp', window );">Accumulated depreciation, Adjustments arising from translating financial statements of foreign operations</a></td>
<td class="nump">104<span></span>
</td>
<td class="num">(362)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationAtBeginning', window );">Accumulated depreciation at ending</a></td>
<td class="nump">2,883<span></span>
</td>
<td class="nump">2,480<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationDepreciatedCosts', window );">Depreciated cost at ending</a></td>
<td class="nump">1,512<span></span>
</td>
<td class="nump">1,359<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationDepreciatedCostsBeginning', window );">Depreciated cost at beginning</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,287<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=mgic_ComputersAndPeripheralEquipmentMember', window );">Computers and peripheral equipment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PropertyPlantsandEquipmentNetDetailsScheduleofthecompositionandmovementLineItems', window );"><strong>Disclosure Of Property Plant And Equipment [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAtBeginnings', window );">Cost at beginning</a></td>
<td class="nump">8,106<span></span>
</td>
<td class="nump">7,021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdditionsDuringTheYearAbstract', window );"><strong>Additions during the year:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostPurchases', window );">Cost Purchases</a></td>
<td class="nump">2,702<span></span>
</td>
<td class="nump">830<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAcquisition', window );">Cost Acquisitions of subsidiaries</a></td>
<td class="nump">112<span></span>
</td>
<td class="nump">82<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations', window );">Cost Adjustments arising from translating financial statements of foreign operations</a></td>
<td class="num">(1,668)<span></span>
</td>
<td class="nump">231<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostDisposals', window );">Cost Disposals</a></td>
<td class="num">(632)<span></span>
</td>
<td class="num">(58)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAtBeginnings', window );">Cost at ending</a></td>
<td class="nump">8,620<span></span>
</td>
<td class="nump">8,106<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationAtBeginning', window );">Accumulated depreciation at beginning</a></td>
<td class="nump">6,594<span></span>
</td>
<td class="nump">5,886<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdditionsDuringTheYearAbstract0', window );"><strong>Additions during the year:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationDepreciation', window );">Accumulated depreciation Depreciation</a></td>
<td class="nump">1,192<span></span>
</td>
<td class="nump">1,084<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationDisposals', window );">Accumulated depreciation Disposals</a></td>
<td class="num">(580)<span></span>
</td>
<td class="num">(58)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp', window );">Accumulated depreciation, Adjustments arising from translating financial statements of foreign operations</a></td>
<td class="num">(520)<span></span>
</td>
<td class="num">(318)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationAtBeginning', window );">Accumulated depreciation at ending</a></td>
<td class="nump">6,686<span></span>
</td>
<td class="nump">6,594<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationDepreciatedCosts', window );">Depreciated cost at ending</a></td>
<td class="nump">1,934<span></span>
</td>
<td class="nump">1,512<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationDepreciatedCostsBeginning', window );">Depreciated cost at beginning</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,135<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=ifrs-full_LeaseholdImprovementsMember', window );">Leasehold improvements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PropertyPlantsandEquipmentNetDetailsScheduleofthecompositionandmovementLineItems', window );"><strong>Disclosure Of Property Plant And Equipment [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAtBeginnings', window );">Cost at beginning</a></td>
<td class="nump">3,725<span></span>
</td>
<td class="nump">3,611<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdditionsDuringTheYearAbstract', window );"><strong>Additions during the year:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostPurchases', window );">Cost Purchases</a></td>
<td class="nump">195<span></span>
</td>
<td class="nump">65<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAcquisition', window );">Cost Acquisitions of subsidiaries</a></td>
<td class="nump">8<span></span>
</td>
<td class="nump">6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations', window );">Cost Adjustments arising from translating financial statements of foreign operations</a></td>
<td class="nump">1,996<span></span>
</td>
<td class="nump">47<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostDisposals', window );">Cost Disposals</a></td>
<td class="num">(44)<span></span>
</td>
<td class="num">(4)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAtBeginnings', window );">Cost at ending</a></td>
<td class="nump">5,880<span></span>
</td>
<td class="nump">3,725<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationAtBeginning', window );">Accumulated depreciation at beginning</a></td>
<td class="nump">1,041<span></span>
</td>
<td class="nump">753<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdditionsDuringTheYearAbstract0', window );"><strong>Additions during the year:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationDepreciation', window );">Accumulated depreciation Depreciation</a></td>
<td class="nump">84<span></span>
</td>
<td class="nump">75<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationDisposals', window );">Accumulated depreciation Disposals</a></td>
<td class="num">(41)<span></span>
</td>
<td class="num">(4)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp', window );">Accumulated depreciation, Adjustments arising from translating financial statements of foreign operations</a></td>
<td class="nump">177<span></span>
</td>
<td class="nump">217<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationAtBeginning', window );">Accumulated depreciation at ending</a></td>
<td class="nump">1,261<span></span>
</td>
<td class="nump">1,041<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationDepreciatedCosts', window );">Depreciated cost at ending</a></td>
<td class="nump">$ 4,619<span></span>
</td>
<td class="nump">$ 2,684<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedDepreciationDepreciatedCostsBeginning', window );">Depreciated cost at beginning</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,858<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AccumulatedDepreciationAtBeginning">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of accumulated depreciation at beginning.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AccumulatedDepreciationAtBeginning</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AccumulatedDepreciationDepreciatedCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AccumulatedDepreciationDepreciatedCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AccumulatedDepreciationDepreciatedCostsBeginning">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AccumulatedDepreciationDepreciatedCostsBeginning</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AccumulatedDepreciationDepreciation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AccumulatedDepreciationDepreciation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AccumulatedDepreciationDisposals">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AccumulatedDepreciationDisposals</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AdditionsDuringTheYearAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AdditionsDuringTheYearAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AdditionsDuringTheYearAbstract0">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AdditionsDuringTheYearAbstract0</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CostAcquisition">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CostAcquisition</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CostAtBeginnings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CostAtBeginnings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CostDisposals">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CostDisposals</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CostPurchases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CostPurchases</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_PropertyPlantsandEquipmentNetDetailsScheduleofthecompositionandmovementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_PropertyPlantsandEquipmentNetDetailsScheduleofthecompositionandmovementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=mgic_softwareMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=mgic_softwareMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=ifrs-full_MotorVehiclesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=ifrs-full_MotorVehiclesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=mgic_OfficeFurnitureAndEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=mgic_OfficeFurnitureAndEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=mgic_ComputersAndPeripheralEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=mgic_ComputersAndPeripheralEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
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<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=ifrs-full_LeaseholdImprovementsMember</td>
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<tr>
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<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211608629408">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Intangible Assets, Net (Details) - Schedule of intangible assets of composition and movement - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Jan. 01, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetsofcompositionandmovementLineItems', window );"><strong>Schedule Of Intangible Assets Of Composition And Movement [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_GoodwillandOtherIntangibleAssetCost', window );">Beginning balance, Cost</a></td>
<td class="nump">$ 195,760<span></span>
</td>
<td class="nump">$ 183,658<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CapitalizedDevelopmentCosts', window );">Capitalized development costs</a></td>
<td class="nump">3,059<span></span>
</td>
<td class="nump">3,193<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities', window );">Purchase of intangible asset</a></td>
<td class="nump">219<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AcquisitionOfSubsidiariesCosts', window );">Acquisition of subsidiaries</a></td>
<td class="nump">14,026<span></span>
</td>
<td class="nump">6,445<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations', window );">Adjustments arising from translating financial statements of foreign operations cost</a></td>
<td class="num">(6,241)<span></span>
</td>
<td class="nump">2,464<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_GoodwillandOtherIntangibleAssetCost', window );">Ending balance, Cost</a></td>
<td class="nump">206,823<span></span>
</td>
<td class="nump">195,760<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedAmortizationAndImpairment', window );">Beginning balance, Accumulated amortization and impairment</a></td>
<td class="nump">144,370<span></span>
</td>
<td class="nump">130,254<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AmortizationRecognized', window );">Amortization recognized in the year</a></td>
<td class="nump">13,574<span></span>
</td>
<td class="nump">13,054<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization', window );">Adjustments arising from translating financial statements of foreign operations amortization</a></td>
<td class="num">(3,178)<span></span>
</td>
<td class="nump">1,062<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedAmortizationAndImpairment', window );">Ending balance, Accumulated amortization and impairment</a></td>
<td class="nump">154,766<span></span>
</td>
<td class="nump">144,370<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssetsAtAmortisedCost', window );">Amortized cost</a></td>
<td class="nump">52,057<span></span>
</td>
<td class="nump">51,390<span></span>
</td>
<td class="nump">$ 53,404<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=mgic_CapitalizedSoftwareDevelopmentCostsMember', window );">Capitalized Software Development Costs [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetsofcompositionandmovementLineItems', window );"><strong>Schedule Of Intangible Assets Of Composition And Movement [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_GoodwillandOtherIntangibleAssetCost', window );">Beginning balance, Cost</a></td>
<td class="nump">90,101<span></span>
</td>
<td class="nump">86,240<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CapitalizedDevelopmentCosts', window );">Capitalized development costs</a></td>
<td class="nump">3,059<span></span>
</td>
<td class="nump">3,193<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities', window );">Purchase of intangible asset</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AcquisitionOfSubsidiariesCosts', window );">Acquisition of subsidiaries</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations', window );">Adjustments arising from translating financial statements of foreign operations cost</a></td>
<td class="num">(103)<span></span>
</td>
<td class="nump">668<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_GoodwillandOtherIntangibleAssetCost', window );">Ending balance, Cost</a></td>
<td class="nump">93,057<span></span>
</td>
<td class="nump">90,101<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedAmortizationAndImpairment', window );">Beginning balance, Accumulated amortization and impairment</a></td>
<td class="nump">79,354<span></span>
</td>
<td class="nump">74,841<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AmortizationRecognized', window );">Amortization recognized in the year</a></td>
<td class="nump">3,817<span></span>
</td>
<td class="nump">4,513<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedAmortizationAndImpairment', window );">Ending balance, Accumulated amortization and impairment</a></td>
<td class="nump">83,171<span></span>
</td>
<td class="nump">79,354<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssetsAtAmortisedCost', window );">Amortized cost</a></td>
<td class="nump">9,886<span></span>
</td>
<td class="nump">10,747<span></span>
</td>
<td class="nump">11,399<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=mgic_CustomersRelationshipMember', window );">Customers Relationship [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetsofcompositionandmovementLineItems', window );"><strong>Schedule Of Intangible Assets Of Composition And Movement [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_GoodwillandOtherIntangibleAssetCost', window );">Beginning balance, Cost</a></td>
<td class="nump">86,651<span></span>
</td>
<td class="nump">78,750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities', window );">Purchase of intangible asset</a></td>
<td class="nump">219<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AcquisitionOfSubsidiariesCosts', window );">Acquisition of subsidiaries</a></td>
<td class="nump">11,319<span></span>
</td>
<td class="nump">6,445<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations', window );">Adjustments arising from translating financial statements of foreign operations cost</a></td>
<td class="num">(5,055)<span></span>
</td>
<td class="nump">1,456<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_GoodwillandOtherIntangibleAssetCost', window );">Ending balance, Cost</a></td>
<td class="nump">93,134<span></span>
</td>
<td class="nump">86,651<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedAmortizationAndImpairment', window );">Beginning balance, Accumulated amortization and impairment</a></td>
<td class="nump">54,494<span></span>
</td>
<td class="nump">46,621<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AmortizationRecognized', window );">Amortization recognized in the year</a></td>
<td class="nump">7,865<span></span>
</td>
<td class="nump">6,962<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization', window );">Adjustments arising from translating financial statements of foreign operations amortization</a></td>
<td class="num">(2,930)<span></span>
</td>
<td class="nump">911<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedAmortizationAndImpairment', window );">Ending balance, Accumulated amortization and impairment</a></td>
<td class="nump">59,429<span></span>
</td>
<td class="nump">54,494<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssetsAtAmortisedCost', window );">Amortized cost</a></td>
<td class="nump">33,705<span></span>
</td>
<td class="nump">32,157<span></span>
</td>
<td class="nump">32,129<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=mgic_AcquiredTechnologyMember', window );">Acquired Technology [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetsofcompositionandmovementLineItems', window );"><strong>Schedule Of Intangible Assets Of Composition And Movement [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_GoodwillandOtherIntangibleAssetCost', window );">Beginning balance, Cost</a></td>
<td class="nump">18,371<span></span>
</td>
<td class="nump">18,052<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities', window );">Purchase of intangible asset</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AcquisitionOfSubsidiariesCosts', window );">Acquisition of subsidiaries</a></td>
<td class="nump">2,707<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations', window );">Adjustments arising from translating financial statements of foreign operations cost</a></td>
<td class="num">(1,030)<span></span>
</td>
<td class="nump">319<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_GoodwillandOtherIntangibleAssetCost', window );">Ending balance, Cost</a></td>
<td class="nump">20,048<span></span>
</td>
<td class="nump">18,371<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedAmortizationAndImpairment', window );">Beginning balance, Accumulated amortization and impairment</a></td>
<td class="nump">10,329<span></span>
</td>
<td class="nump">8,720<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AmortizationRecognized', window );">Amortization recognized in the year</a></td>
<td class="nump">1,797<span></span>
</td>
<td class="nump">1,468<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization', window );">Adjustments arising from translating financial statements of foreign operations amortization</a></td>
<td class="num">(244)<span></span>
</td>
<td class="nump">140<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedAmortizationAndImpairment', window );">Ending balance, Accumulated amortization and impairment</a></td>
<td class="nump">11,882<span></span>
</td>
<td class="nump">10,329<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssetsAtAmortisedCost', window );">Amortized cost</a></td>
<td class="nump">8,166<span></span>
</td>
<td class="nump">8,042<span></span>
</td>
<td class="nump">9,332<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=mgic_OtherMember', window );">Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetsofcompositionandmovementLineItems', window );"><strong>Schedule Of Intangible Assets Of Composition And Movement [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_GoodwillandOtherIntangibleAssetCost', window );">Beginning balance, Cost</a></td>
<td class="nump">637<span></span>
</td>
<td class="nump">616<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities', window );">Purchase of intangible asset</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AcquisitionOfSubsidiariesCosts', window );">Acquisition of subsidiaries</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations', window );">Adjustments arising from translating financial statements of foreign operations cost</a></td>
<td class="num">(53)<span></span>
</td>
<td class="nump">21<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_GoodwillandOtherIntangibleAssetCost', window );">Ending balance, Cost</a></td>
<td class="nump">584<span></span>
</td>
<td class="nump">637<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedAmortizationAndImpairment', window );">Beginning balance, Accumulated amortization and impairment</a></td>
<td class="nump">193<span></span>
</td>
<td class="nump">72<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AmortizationRecognized', window );">Amortization recognized in the year</a></td>
<td class="nump">95<span></span>
</td>
<td class="nump">111<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization', window );">Adjustments arising from translating financial statements of foreign operations amortization</a></td>
<td class="num">(4)<span></span>
</td>
<td class="nump">11<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedAmortizationAndImpairment', window );">Ending balance, Accumulated amortization and impairment</a></td>
<td class="nump">284<span></span>
</td>
<td class="nump">193<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssetsAtAmortisedCost', window );">Amortized cost</a></td>
<td class="nump">$ 300<span></span>
</td>
<td class="nump">$ 444<span></span>
</td>
<td class="nump">$ 544<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentFinancialAssetsAtAmortisedCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current financial assets measured at amortised cost. [Refer: Financial assets at amortised cost]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 8<br> -Subparagraph f<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_8_f&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentFinancialAssetsAtAmortisedCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for the purchases of intangible assets, classified as investing activities. [Refer: Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AccumulatedAmortizationAndImpairment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Accumulated amortization and impairment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AccumulatedAmortizationAndImpairment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AcquisitionOfSubsidiariesCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Acquisition of subsidiaries.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AcquisitionOfSubsidiariesCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Adjustments arising from translating financial statements of foreign operations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Adjustments arising from translating financial statements of foreign operations amortization.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AmortizationRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortization recognized in the year.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AmortizationRecognized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CapitalizedDevelopmentCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Capitalized development costs.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CapitalizedDevelopmentCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_GoodwillandOtherIntangibleAssetCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Goodwill and other intangible assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_GoodwillandOtherIntangibleAssetCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetsofcompositionandmovementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetsofcompositionandmovementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=mgic_CapitalizedSoftwareDevelopmentCostsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=mgic_CapitalizedSoftwareDevelopmentCostsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=mgic_CustomersRelationshipMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=mgic_CustomersRelationshipMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=mgic_AcquiredTechnologyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=mgic_AcquiredTechnologyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=mgic_OtherMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=mgic_OtherMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>93
<FILENAME>R79.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211608079296">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Intangible Assets, Net (Details) - Schedule of amortization expenses related to intangible assets - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IntangibleAssetsNetDetailsScheduleofamortizationexpensesrelatedtointangibleassetsLineItems', window );"><strong>Schedule Of Amortization Expenses Related To Intangible Assets [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostsOfRevenue', window );">Cost of revenues</a></td>
<td class="nump">$ 5,405<span></span>
</td>
<td class="nump">$ 6,068<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SellingGeneralAndAdministrativeExpense', window );">Selling and marketing expenses</a></td>
<td class="nump">8,169<span></span>
</td>
<td class="nump">6,968<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IntangibleAssets', window );">Total</a></td>
<td class="nump">$ 13,574<span></span>
</td>
<td class="nump">$ 13,054<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SellingGeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense relating to selling, general and administrative activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SellingGeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CostsOfRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CostsOfRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_IntangibleAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Intangible Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_IntangibleAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_IntangibleAssetsNetDetailsScheduleofamortizationexpensesrelatedtointangibleassetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_IntangibleAssetsNetDetailsScheduleofamortizationexpensesrelatedtointangibleassetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>94
<FILENAME>R80.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
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</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211615565840">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Intangible Assets, Net (Details) - Schedule of intangible assets composition by reportable segment<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2022 </div>
<div>USD ($)</div>
</th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetscompositionbyreportablesegmentLineItems', window );"><strong>Intangible Assets, Net (Details) - Schedule of intangible assets composition by reportable segment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CapitalizedSoftwareDevelopmentCosts', window );">Capitalized Software development costs</a></td>
<td class="nump">$ 9,886<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CustomerRelationship', window );">Customer relationship</a></td>
<td class="nump">33,705<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AcquiredTechnology', window );">Acquired technology</a></td>
<td class="nump">8,166<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherIntangibleAssets', window );">Others</a></td>
<td class="nump">300<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill', window );">Total</a></td>
<td class="nump">52,057<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=mgic_ITProfessionalServicesMember', window );">IT professional services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetscompositionbyreportablesegmentLineItems', window );"><strong>Intangible Assets, Net (Details) - Schedule of intangible assets composition by reportable segment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CapitalizedSoftwareDevelopmentCosts', window );">Capitalized Software development costs</a></td>
<td class="nump">1,079<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CustomerRelationship', window );">Customer relationship</a></td>
<td class="nump">22,373<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AcquiredTechnology', window );">Acquired technology</a></td>
<td class="nump">1,751<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherIntangibleAssets', window );">Others</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill', window );">Total</a></td>
<td class="nump">25,203<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_ComputerSoftwareMember', window );">Software [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetscompositionbyreportablesegmentLineItems', window );"><strong>Intangible Assets, Net (Details) - Schedule of intangible assets composition by reportable segment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CapitalizedSoftwareDevelopmentCosts', window );">Capitalized Software development costs</a></td>
<td class="nump">8,807<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CustomerRelationship', window );">Customer relationship</a></td>
<td class="nump">11,332<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AcquiredTechnology', window );">Acquired technology</a></td>
<td class="nump">6,415<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherIntangibleAssets', window );">Others</a></td>
<td class="nump">300<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill', window );">Total</a></td>
<td class="nump">$ 26,854<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The decrease in intangible assets other than goodwill resulting from disposals. [Refer: Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph e<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_e_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherIntangibleAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of intangible assets that the entity does not separately disclose in the same statement or note. [Refer: Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 119<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_119&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherIntangibleAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AcquiredTechnology">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Acquired technology.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AcquiredTechnology</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CapitalizedSoftwareDevelopmentCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Capitalized Software development costs.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CapitalizedSoftwareDevelopmentCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CustomerRelationship">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Customer relationship.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CustomerRelationship</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetscompositionbyreportablesegmentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_IntangibleAssetsNetDetailsScheduleofintangibleassetscompositionbyreportablesegmentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=mgic_ITProfessionalServicesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=mgic_ITProfessionalServicesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_ComputerSoftwareMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_ComputerSoftwareMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>95
<FILENAME>R81.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211607827376">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Intangible Assets, Net (Details) - Schedule of estimated future amortization of intangible assets<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IntangibleAssetsNetDetailsScheduleofestimatedfutureamortizationofintangibleassetsLineItems', window );"><strong>Schedule Of Estimated Future Amortization Of Intangible Assets [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_EstimatedFutureAmortizationExpensesOne', window );">2023</a></td>
<td class="nump">$ 13,011<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_EstimatedFutureAmortizationExpensesTwo', window );">2024</a></td>
<td class="nump">11,075<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_EstimatedFutureAmortizationExpensesThree', window );">2025</a></td>
<td class="nump">9,048<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_EstimatedFutureAmortizationExpensesFour', window );">2026</a></td>
<td class="nump">7,162<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_EstimatedFutureAmortizationExpensesFiveAndThereafter', window );">2027 and thereafter</a></td>
<td class="nump">11,761<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_EstimatedFutureAmortizationExpenses', window );">Total</a></td>
<td class="nump">$ 52,057<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_EstimatedFutureAmortizationExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Estimated future amortization expenses.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_EstimatedFutureAmortizationExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_EstimatedFutureAmortizationExpensesFiveAndThereafter">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Estimated future amortization expenses five and thereafter.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_EstimatedFutureAmortizationExpensesFiveAndThereafter</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_EstimatedFutureAmortizationExpensesFour">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Estimated future amortization expenses four.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_EstimatedFutureAmortizationExpensesFour</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_EstimatedFutureAmortizationExpensesOne">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Estimated future amortization expense one.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_EstimatedFutureAmortizationExpensesOne</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_EstimatedFutureAmortizationExpensesThree">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Estimated future amortization expenses three.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_EstimatedFutureAmortizationExpensesThree</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_EstimatedFutureAmortizationExpensesTwo">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Estimated future amortization expenses two.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_EstimatedFutureAmortizationExpensesTwo</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_IntangibleAssetsNetDetailsScheduleofestimatedfutureamortizationofintangibleassetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_IntangibleAssetsNetDetailsScheduleofestimatedfutureamortizationofintangibleassetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>96
<FILENAME>R82.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211607405168">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Goodwill (Details) - Schedule of carrying amount of goodwill - USD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_GoodwillDetailsScheduleofcarryingamountofgoodwillLineItems', window );"><strong>Goodwill (Details) - Schedule of carrying amount of goodwill [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Beginning balance</a></td>
<td class="nump">$ 146,803<span></span>
</td>
<td class="nump">$ 135,682<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AcquisitionsOfSubsidiaries', window );">Acquisition of subsidiaries</a></td>
<td class="nump">22,327<span></span>
</td>
<td class="nump">8,545<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod', window );">Measurement period adjustments</a></td>
<td class="num">(1,078)<span></span>
</td>
<td class="nump">879<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads', window );">Foreign currency translation adjustments</a></td>
<td class="num">(9,353)<span></span>
</td>
<td class="nump">1,697<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Ending balance</a></td>
<td class="nump">158,699<span></span>
</td>
<td class="nump">146,803<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProductsAndServicesAxis=mgic_ITProfessionalServicesMember', window );">IT professional services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_GoodwillDetailsScheduleofcarryingamountofgoodwillLineItems', window );"><strong>Goodwill (Details) - Schedule of carrying amount of goodwill [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Beginning balance</a></td>
<td class="nump">75,603<span></span>
</td>
<td class="nump">69,346<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AcquisitionsOfSubsidiaries', window );">Acquisition of subsidiaries</a></td>
<td class="nump">19,622<span></span>
</td>
<td class="nump">5,068<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod', window );">Measurement period adjustments</a></td>
<td class="num">(902)<span></span>
</td>
<td class="nump">321<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads', window );">Foreign currency translation adjustments</a></td>
<td class="num">(4,326)<span></span>
</td>
<td class="nump">868<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Ending balance</a></td>
<td class="nump">89,997<span></span>
</td>
<td class="nump">75,603<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProductsAndServicesAxis=mgic_SoftwareServicesMember', window );">Software services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_GoodwillDetailsScheduleofcarryingamountofgoodwillLineItems', window );"><strong>Goodwill (Details) - Schedule of carrying amount of goodwill [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Beginning balance</a></td>
<td class="nump">71,200<span></span>
</td>
<td class="nump">66,336<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AcquisitionsOfSubsidiaries', window );">Acquisition of subsidiaries</a></td>
<td class="nump">2,705<span></span>
</td>
<td class="nump">3,477<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod', window );">Measurement period adjustments</a></td>
<td class="num">(176)<span></span>
</td>
<td class="nump">558<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads', window );">Foreign currency translation adjustments</a></td>
<td class="num">(5,027)<span></span>
</td>
<td class="nump">829<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Ending balance</a></td>
<td class="nump">$ 68,702<span></span>
</td>
<td class="nump">$ 71,200<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Adjustments of tax expense (income) recognised in the period for current tax of prior periods.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 80<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_80_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForCurrentTaxOfPriorPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of identifiable non-monetary assets without physical substance. This amount does not include goodwill. [Refer: Goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, after reclassification adjustments, related to change in value of foreign currency basis spreads. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 91<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Acquisition of subsidiaries.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AcquisitionsOfSubsidiaries</td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_GoodwillDetailsScheduleofcarryingamountofgoodwillLineItems</td>
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<td>mgic_</td>
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<td>xbrli:stringItemType</td>
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<td>na</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProductsAndServicesAxis=mgic_ITProfessionalServicesMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProductsAndServicesAxis=mgic_SoftwareServicesMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211651438768">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Goodwill (Details) - Schedule of assessment for goodwill impairment<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2022 </div>
<div>USD ($)</div>
</th></tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProductsAndServicesAxis=mgic_ITProfessionalServicesMember', window );">IT professional services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_GoodwillDetailsScheduleofassessmentforgoodwillimpairmentLineItems', window );"><strong>Goodwill (Details) - Schedule of assessment for goodwill impairment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill', window );">Carrying amount (in Dollars)</a></td>
<td class="nump">$ 185,549<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_WeightedAverageCostOfCapitals', window );">Weighted average cost of capital</a></td>
<td class="nump">14.20%<span></span>
</td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TerminalValueGrowthRate', window );">Terminal value growth rate</a></td>
<td class="nump">3.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProductsAndServicesAxis=mgic_SoftwareServicesMember', window );">Software services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_GoodwillDetailsScheduleofassessmentforgoodwillimpairmentLineItems', window );"><strong>Goodwill (Details) - Schedule of assessment for goodwill impairment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill', window );">Carrying amount (in Dollars)</a></td>
<td class="nump">$ 85,325<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_WeightedAverageCostOfCapitals', window );">Weighted average cost of capital</a></td>
<td class="nump">13.40%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TerminalValueGrowthRate', window );">Terminal value growth rate</a></td>
<td class="nump">3.00%<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of impairment loss recognised in profit or loss for goodwill. [Refer: Impairment loss recognised in profit or loss; Goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B67<br> -Subparagraph d<br> -Clause v<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B67_d_v&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_GoodwillDetailsScheduleofassessmentforgoodwillimpairmentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_GoodwillDetailsScheduleofassessmentforgoodwillimpairmentLineItems</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_TerminalValueGrowthRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of growth rate.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_TerminalValueGrowthRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_WeightedAverageCostOfCapitals">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of weighted average cost of capital.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_WeightedAverageCostOfCapitals</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProductsAndServicesAxis=mgic_ITProfessionalServicesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProductsAndServicesAxis=mgic_ITProfessionalServicesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProductsAndServicesAxis=mgic_SoftwareServicesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProductsAndServicesAxis=mgic_SoftwareServicesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>98
<FILENAME>R84.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211606582448">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Short Term Debts (Details) - Schedule of short term debts - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Jan. 01, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsLineItems', window );"><strong>Short Term Debts (Details) - Schedule of short term debts [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalShortTermBorrowings', window );">Total short term borrowings</a></td>
<td class="nump">$ 20,755<span></span>
</td>
<td class="nump">$ 17,108<span></span>
</td>
<td class="nump">$ 11,598<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShortTermDebtsTypeAxis=mgic_ShortTermCreditFromBanksMember', window );">Short-term loans from banks [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsLineItems', window );"><strong>Short Term Debts (Details) - Schedule of short term debts [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DerivativeCurrenciesBought', window );">Currency</a></td>
<td class="text">NIS<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalShortTermBorrowings', window );">Total short term borrowings</a></td>
<td class="nump">$ 2,449<span></span>
</td>
<td class="nump">4,720<span></span>
</td>
<td class="nump">1,328<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShortTermDebtsTypeAxis=mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionMember', window );">Current maturities of long-term loans from financial institutions and banks [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsLineItems', window );"><strong>Short Term Debts (Details) - Schedule of short term debts [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DerivativeCurrenciesBought', window );">Currency</a></td>
<td class="text">NIS<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalShortTermBorrowings', window );">Total short term borrowings</a></td>
<td class="nump">$ 9,310<span></span>
</td>
<td class="nump">8,551<span></span>
</td>
<td class="nump">10,202<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShortTermDebtsTypeAxis=mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionsAndBanksMember', window );">Current maturities of long-term loans from banks [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsLineItems', window );"><strong>Short Term Debts (Details) - Schedule of short term debts [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DerivativeCurrenciesBought', window );">Currency</a></td>
<td class="text">USD<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalShortTermBorrowings', window );">Total short term borrowings</a></td>
<td class="nump">$ 8,908<span></span>
</td>
<td class="nump">3,750<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShortTermDebtsTypeAxis=mgic_AccruedInterestOnLongTermDebtMember', window );">Accrued interest on long term debt [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsLineItems', window );"><strong>Short Term Debts (Details) - Schedule of short term debts [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DerivativeCurrenciesBought', window );">Currency</a></td>
<td class="text">NIS<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalShortTermBorrowings', window );">Total short term borrowings</a></td>
<td class="nump">$ 23<span></span>
</td>
<td class="nump">27<span></span>
</td>
<td class="nump">68<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShortTermDebtsTypeAxis=mgic_AccruedInterestOnLongTermDebtOneMember', window );">Accrued interest on long term debt [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsLineItems', window );"><strong>Short Term Debts (Details) - Schedule of short term debts [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DebtInstrumentInterestRatesStatedPercentage', window );">Interest rate %</a></td>
<td class="nump">6.07%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DerivativeCurrenciesBought', window );">Currency</a></td>
<td class="text">USD<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalShortTermBorrowings', window );">Total short term borrowings</a></td>
<td class="nump">$ 65<span></span>
</td>
<td class="nump">$ 60<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [Member] | Short-term loans from banks [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsLineItems', window );"><strong>Short Term Debts (Details) - Schedule of short term debts [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DebtInstrumentInterestRatesStatedPercentage', window );">Interest rate %</a></td>
<td class="nump">1.70%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [Member] | Current maturities of long-term loans from financial institutions and banks [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsLineItems', window );"><strong>Short Term Debts (Details) - Schedule of short term debts [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DebtInstrumentInterestRatesStatedPercentage', window );">Interest rate %</a></td>
<td class="nump">2.10%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [Member] | Current maturities of long-term loans from banks [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsLineItems', window );"><strong>Short Term Debts (Details) - Schedule of short term debts [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DebtInstrumentInterestRatesStatedPercentage', window );">Interest rate %</a></td>
<td class="nump">2.10%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [Member] | Accrued interest on long term debt [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsLineItems', window );"><strong>Short Term Debts (Details) - Schedule of short term debts [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DebtInstrumentInterestRatesStatedPercentage', window );">Interest rate %</a></td>
<td class="nump">2.60%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [Member] | Short-term loans from banks [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsLineItems', window );"><strong>Short Term Debts (Details) - Schedule of short term debts [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DebtInstrumentInterestRatesStatedPercentage', window );">Interest rate %</a></td>
<td class="nump">2.60%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [Member] | Current maturities of long-term loans from financial institutions and banks [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsLineItems', window );"><strong>Short Term Debts (Details) - Schedule of short term debts [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DebtInstrumentInterestRatesStatedPercentage', window );">Interest rate %</a></td>
<td class="nump">3.30%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [Member] | Current maturities of long-term loans from banks [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsLineItems', window );"><strong>Short Term Debts (Details) - Schedule of short term debts [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DebtInstrumentInterestRatesStatedPercentage', window );">Interest rate %</a></td>
<td class="nump">2.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [Member] | Accrued interest on long term debt [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsLineItems', window );"><strong>Short Term Debts (Details) - Schedule of short term debts [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DebtInstrumentInterestRatesStatedPercentage', window );">Interest rate %</a></td>
<td class="nump">3.14%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DebtInstrumentInterestRatesStatedPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Contractual interest rate for funds borrowed, under the debt agreement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DebtInstrumentInterestRatesStatedPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DerivativeCurrenciesBought">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Derivative currencies bought.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DerivativeCurrenciesBought</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ShortTermDebtsDetailsScheduleofshorttermdebtsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_TotalShortTermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Reflects the total carrying amount as of the balance sheet date of debt having initial terms less than one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_TotalShortTermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ShortTermDebtsTypeAxis=mgic_ShortTermCreditFromBanksMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ShortTermDebtsTypeAxis=mgic_ShortTermCreditFromBanksMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ShortTermDebtsTypeAxis=mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ShortTermDebtsTypeAxis=mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ShortTermDebtsTypeAxis=mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionsAndBanksMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ShortTermDebtsTypeAxis=mgic_CurrentMaturitiesOfLongtermLoansFromFinancialInstitutionsAndBanksMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ShortTermDebtsTypeAxis=mgic_AccruedInterestOnLongTermDebtMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ShortTermDebtsTypeAxis=mgic_AccruedInterestOnLongTermDebtMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ShortTermDebtsTypeAxis=mgic_AccruedInterestOnLongTermDebtOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ShortTermDebtsTypeAxis=mgic_AccruedInterestOnLongTermDebtOneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211651357232">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Other Accounts Payable (Details) - Schedule of other accounts payable - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Jan. 01, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ScheduleOfOtherAccountsPayableAbstract', window );"><strong>Schedule of other accounts payable [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShorttermEmployeeBenefitsAccruals', window );">Employees and payroll accruals</a></td>
<td class="nump">$ 29,746<span></span>
</td>
<td class="nump">$ 27,826<span></span>
</td>
<td class="nump">$ 28,562<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccruedExpenses', window );">Accrued expenses</a></td>
<td class="nump">10,239<span></span>
</td>
<td class="nump">8,873<span></span>
</td>
<td class="nump">7,017<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GovernmentDebtInstrumentsHeld', window );">Government authorities and other</a></td>
<td class="nump">6,857<span></span>
</td>
<td class="nump">8,392<span></span>
</td>
<td class="nump">6,198<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssetsAtAmortisedCost', window );">Total</a></td>
<td class="nump">$ 46,842<span></span>
</td>
<td class="nump">$ 45,091<span></span>
</td>
<td class="nump">$ 41,777<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GovernmentDebtInstrumentsHeld">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of debt instruments held by the entity that were issued by a government. [Refer: Debt instruments held; Government [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GovernmentDebtInstrumentsHeld</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentFinancialAssetsAtAmortisedCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current financial assets measured at amortised cost. [Refer: Financial assets at amortised cost]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 8<br> -Subparagraph f<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_8_f&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentFinancialAssetsAtAmortisedCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShorttermEmployeeBenefitsAccruals">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of accruals for employee benefits (other than termination benefits) that are expected to be settled wholly within twelve months after the end of the annual reporting period in which the employees render the related services. [Refer: Accruals classified as current]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShorttermEmployeeBenefitsAccruals</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AccruedExpenses">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AccruedExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ScheduleOfOtherAccountsPayableAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211607428112">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long Term Debts (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">1 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Nov. 02, 2023</div></th>
<th class="th"><div>Jun. 01, 2021</div></th>
<th class="th"><div>Mar. 27, 2023</div></th>
<th class="th"><div>Nov. 30, 2016</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Mar. 31, 2022</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DisclosureOfOtherNonCurrentAssetsTextBlockAbstract', window );"><strong>Long Term Debts [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LoansPayableInDefault', window );">Loan amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 25,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.38%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.25%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EquityInstrumentsHeld', window );">Total equity attributable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RestrictedCashAndCashEquivalents', window );">Cash and cash equivalent</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 10,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_FinancialDebtsNotExceedPercentage', window );">Financial debts not exceed percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LoanAgreementDescription', window );">Loan agreement description</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">the Company entered into a loan agreement with an Israeli bank, pursuant to which, the Company borrowed $20,000 for a four-year term
(the &#8220;Bank Loan&#8221;). The Bank Loan will mature on March 27, 2027, and will be repaid in four (4) equal annual instalments of
$6,052 (including interest) starting March 27, 2024. The Bank Loan bears interest at the rate SOFR + 3.38%. The Bank Loan, which may be
prepaid under certain circumstances, is subject to various financial covenants which mainly consist of the following:<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LoanObtained', window );">Loan obtained</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 15,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 31,356<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DerivativeFixedInterestRates', window );">Fixed interest rate</a></td>
<td class="nump">2.60%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherEquityInterest', window );">Equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 150,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The interest rate on borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityInstrumentsHeld">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of instruments held by the entity that provide evidence of a residual interest in the assets of another entity after deducting all of its liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityInstrumentsHeld</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LoansPayableInDefault">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of loans payable in default.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 18<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LoansPayableInDefault</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherEquityInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of equity interest of an entity without share capital that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherEquityInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RestrictedCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of cash and cash equivalents whose use or withdrawal is restricted. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RestrictedCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DerivativeFixedInterestRates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>THhe percentage of Derivative, Fixed Interest Rate.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DerivativeFixedInterestRates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DisclosureOfOtherNonCurrentAssetsTextBlockAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DisclosureOfOtherNonCurrentAssetsTextBlockAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_FinancialDebtsNotExceedPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The percentage of financial debts not exceed.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_FinancialDebtsNotExceedPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LoanAgreementDescription">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>loan agreement description.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LoanAgreementDescription</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LoanObtained">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of loan obtained.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LoanObtained</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>101
<FILENAME>R87.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211608532336">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Long Term Debts (Details) - Schedule of long term liabilities - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Jan. 01, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LongTermDebtsDetailsScheduleoflongtermliabilitiesLineItems', window );"><strong>Long Term Debts (Details) - Schedule of long term liabilities [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalLongTermBorrowings', window );">Total long term debt</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 30,412<span></span>
</td>
<td class="nump">$ 20,155<span></span>
</td>
<td class="nump">$ 13,352<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LongTermDebtAxis=mgic_LoansFromBanksAndOthersMember', window );">Loans from banks and others [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LongTermDebtsDetailsScheduleoflongtermliabilitiesLineItems', window );"><strong>Long Term Debts (Details) - Schedule of long term liabilities [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DerivativeCurrenciesBought', window );">Linkage basis</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">NIS<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalLongTermBorrowings', window );">Total long term debt</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 12,161<span></span>
</td>
<td class="nump">17,388<span></span>
</td>
<td class="nump">23,466<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LongTermDebtAxis=mgic_BankLoansMember', window );">Bank loans [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LongTermDebtsDetailsScheduleoflongtermliabilitiesLineItems', window );"><strong>Long Term Debts (Details) - Schedule of long term liabilities [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DerivativeCurrenciesBought', window );">Linkage basis</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text">USD<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalLongTermBorrowings', window );">Total long term debt</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">$ 36,408<span></span>
</td>
<td class="nump">15,000<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LongTermDebtAxis=mgic_OtherLongTermDebtsMember', window );">Other long term debts [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LongTermDebtsDetailsScheduleoflongtermliabilitiesLineItems', window );"><strong>Long Term Debts (Details) - Schedule of long term liabilities [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DerivativeCurrenciesBought', window );">Linkage basis</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">JPY<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DebtInstrumentInterestRatesStatedPercentage', window );">Interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1.90%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalLongTermBorrowings', window );">Total long term debt</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 61<span></span>
</td>
<td class="nump">68<span></span>
</td>
<td class="nump">88<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LongTermDebtAxis=mgic_TotalLongTermDebtMember', window );">Total Long Term Debt [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LongTermDebtsDetailsScheduleoflongtermliabilitiesLineItems', window );"><strong>Long Term Debts (Details) - Schedule of long term liabilities [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalLongTermBorrowings', window );">Total long term debt</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 48,630<span></span>
</td>
<td class="nump">32,456<span></span>
</td>
<td class="nump">23,554<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LongTermDebtAxis=mgic_LessCurrentMaturitiesMember', window );">Less current maturities [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LongTermDebtsDetailsScheduleoflongtermliabilitiesLineItems', window );"><strong>Long Term Debts (Details) - Schedule of long term liabilities [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DerivativeCurrenciesBought', window );">Linkage basis</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">NIS, USD<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalLongTermBorrowings', window );">Total long term debt</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">$ (18,218)<span></span>
</td>
<td class="num">$ (12,301)<span></span>
</td>
<td class="num">$ (10,202)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [Member] | Loans from banks and others [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LongTermDebtsDetailsScheduleoflongtermliabilitiesLineItems', window );"><strong>Long Term Debts (Details) - Schedule of long term liabilities [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DebtInstrumentInterestRatesStatedPercentage', window );">Interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">2.10%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [Member] | Bank loans [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LongTermDebtsDetailsScheduleoflongtermliabilitiesLineItems', window );"><strong>Long Term Debts (Details) - Schedule of long term liabilities [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DebtInstrumentInterestRatesStatedPercentage', window );">Interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">2.10%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [Member] | Loans from banks and others [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LongTermDebtsDetailsScheduleoflongtermliabilitiesLineItems', window );"><strong>Long Term Debts (Details) - Schedule of long term liabilities [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DebtInstrumentInterestRatesStatedPercentage', window );">Interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [Member] | Bank loans [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LongTermDebtsDetailsScheduleoflongtermliabilitiesLineItems', window );"><strong>Long Term Debts (Details) - Schedule of long term liabilities [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DebtInstrumentInterestRatesStatedPercentage', window );">Interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">2.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top"><span style="font-family: Times New Roman, Times, Serif">This is comprised of a loan obtained by the Company
on November 2016 in the amount of $ 31,356. The loan is linked to the New Israel Shekel, and was obtained from an Israeli financial institution
(&#8220;the Loan&#8221;). The principal amount of the loan is payable in seven equal annual installments with the final payment due on
November 2, 2023 and bears a fixed interest rate of 2.60% per annum, payable in two semi-annual payments.</span></td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">On June 1, 2021, the Company obtained a loan in the amount of $ 15,000 from an Israeli bank. The principal
amount of the loan is payable in eight equal semi-annual installments with the final payment due on December 1, 2025 and bears a fixed interest
rate of SOFR + 2.1% per annum, payable in two semi-annual payments.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DebtInstrumentInterestRatesStatedPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Contractual interest rate for funds borrowed, under the debt agreement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DebtInstrumentInterestRatesStatedPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DerivativeCurrenciesBought">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Derivative currencies bought.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DerivativeCurrenciesBought</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LongTermDebtsDetailsScheduleoflongtermliabilitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LongTermDebtsDetailsScheduleoflongtermliabilitiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_TotalLongTermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Reflects the total carrying amount as of the balance sheet date of debt having initial terms less than one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_TotalLongTermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LongTermDebtAxis=mgic_LoansFromBanksAndOthersMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LongTermDebtAxis=mgic_LoansFromBanksAndOthersMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LongTermDebtAxis=mgic_BankLoansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LongTermDebtAxis=mgic_BankLoansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LongTermDebtAxis=mgic_OtherLongTermDebtsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LongTermDebtAxis=mgic_OtherLongTermDebtsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LongTermDebtAxis=mgic_TotalLongTermDebtMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LongTermDebtAxis=mgic_TotalLongTermDebtMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LongTermDebtAxis=mgic_LessCurrentMaturitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LongTermDebtAxis=mgic_LessCurrentMaturitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>102
<FILENAME>R88.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211650968192">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long Term Debts (Details) - Schedule of maturity dates - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 01, 2021</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LongTermDebtsDetailsScheduleofmaturitydatesLineItems', window );"><strong>Schedule Of Maturity Dates [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_FirstYearCurrentMaturities', window );">First year (Current maturities)</a></td>
<td class="nump">$ 10,202<span></span>
</td>
<td class="nump">$ 18,218<span></span>
</td>
<td class="nump">$ 12,301<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SecondYear', window );">Second year</a></td>
<td class="nump">6,572<span></span>
</td>
<td class="nump">10,043<span></span>
</td>
<td class="nump">10,891<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ThirdYearinShares', window );">Third year</a></td>
<td class="nump">6,484<span></span>
</td>
<td class="nump">9,818<span></span>
</td>
<td class="nump">4,462<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_FourthYear', window );">Fourth year</a></td>
<td class="nump">148<span></span>
</td>
<td class="nump">5,000<span></span>
</td>
<td class="nump">4,203<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_FifthYearAndThereafter', window );">Fifth year and thereafter</a></td>
<td class="nump">148<span></span>
</td>
<td class="nump">5,551<span></span>
</td>
<td class="nump">599<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LongTermDebtMaturitiesYear', window );">Total</a></td>
<td class="nump">$ 23,554<span></span>
</td>
<td class="nump">$ 48,630<span></span>
</td>
<td class="nump">$ 32,456<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_FifthYearAndThereafter">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fifth year and thereafter.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_FifthYearAndThereafter</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_FirstYearCurrentMaturities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>First year (Current maturities).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_FirstYearCurrentMaturities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_FourthYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fourth year.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_FourthYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LongTermDebtMaturitiesYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LongTermDebtMaturitiesYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LongTermDebtsDetailsScheduleofmaturitydatesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LongTermDebtsDetailsScheduleofmaturitydatesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_SecondYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Second year.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_SecondYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ThirdYearinShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Third year (in Shares).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ThirdYearinShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>103
<FILENAME>R89.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211615834640">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Related Parties Transactions (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_RelatedPartiesTransactionsDetailsLineItems', window );"><strong>Related Parties Transactions (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ServicesReceivedRelatedPartyTransactions', window );">Acquired services</a></td>
<td class="nump">$ 6,990<span></span>
</td>
<td class="nump">$ 5,615<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AmountsReceivableRelatedPartyTransactions', window );">Other receivables balances due parties</a></td>
<td class="nump">8,519<span></span>
</td>
<td class="nump">3,380<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AmountsPayableRelatedPartyTransactions', window );">Trade payables balances due parties</a></td>
<td class="nump">124<span></span>
</td>
<td class="nump">708<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=mgic_ControllingShareholderMember', window );">Controlling Shareholder [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_RelatedPartiesTransactionsDetailsLineItems', window );"><strong>Related Parties Transactions (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ServicesReceivedRelatedPartyTransactions', window );">Acquired services</a></td>
<td class="nump">$ 3,088<span></span>
</td>
<td class="nump">$ 2,639<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AmountsPayableRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amounts payable resulting from related party transactions. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 20<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 18<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AmountsPayableRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AmountsReceivableRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amounts receivable resulting from related party transactions. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 20<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 18<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AmountsReceivableRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ServicesReceivedRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of services received in related party transactions. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 21<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_21_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ServicesReceivedRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_RelatedPartiesTransactionsDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_RelatedPartiesTransactionsDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=mgic_ControllingShareholderMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=mgic_ControllingShareholderMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>104
<FILENAME>R90.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211651097008">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Leases (Details)<br></strong></div></th>
<th class="th" colspan="2">1 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Nov. 30, 2021</div></th>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DisclosureOfLeasesTextBlockAbstract', window );"><strong>Disclosure Of Leases Text Block Abstract</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LeasesExtendToAdditionalYears', window );">Additional lease years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfLineItemsInStatementOfFinancialPositionWhichIncludeLeaseLiabilities', window );">Leases with durations</a></td>
<td class="text">12 months<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LeaseOptionToTerminate', window );">Terminate lease, term</a></td>
<td class="text">terminate the lease after a 4-year term following a 12-month notice in advance, and an option
to renew the lease to an additional 5-year term<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DescriptionOfLeaseExpiring', window );">Lease periods expiring</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">lease periods expiring between 2023
and 2034<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ExplanationOfNatureAndExtentOfRenewalAndTerminationOptions', window );">Expiry dates and renewal options, description</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">expiry dates varying between 2023 and 2024, with renewal options varying between 2023 and 2029<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfLineItemsInStatementOfFinancialPositionWhichIncludeLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The description of the line items in the statement of financial position that include the lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfLineItemsInStatementOfFinancialPositionWhichIncludeLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExplanationOfNatureAndExtentOfRenewalAndTerminationOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The explanation of the nature and extent (for example, quantity, time period or amount as appropriate) of renewal and termination options in service concession arrangements. [Refer: Service concession arrangements [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name SIC<br> -Number 29<br> -IssueDate 2022-03-24<br> -Paragraph 6<br> -Subparagraph c<br> -Clause v<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=SIC&amp;num=29&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_6_c_v&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExplanationOfNatureAndExtentOfRenewalAndTerminationOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DescriptionOfLeaseExpiring">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Original lease periods.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DescriptionOfLeaseExpiring</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DisclosureOfLeasesTextBlockAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DisclosureOfLeasesTextBlockAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LeaseOptionToTerminate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Description of terms and conditions of option to terminate lessee's operating lease. Includes, but is not limited to, information about option recognized as part of right-of-use asset and lease liability.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LeaseOptionToTerminate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LeasesExtendToAdditionalYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LeasesExtendToAdditionalYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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</div></td></tr>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211650950688">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Leases (Details) - Schedule of maturity analysis of undiscounted future lease payments for lease liabilities<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LeasesDetailsScheduleofmaturityanalysisofundiscountedfutureleasepaymentsforleaseliabilitiesLineItems', window );"><strong>Schedule of Maturity Analysis of Undiscounted Future Lease Payments for Lease Liabilities [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived', window );">Total undiscounted cash flows</a></td>
<td class="nump">$ 34,692<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate', window );">Less imputed interest</a></td>
<td class="num">(5,819)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LeaseLiabilities', window );">Present value of lease liabilities</a></td>
<td class="nump">28,873<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearMember', window );">2023 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LeasesDetailsScheduleofmaturityanalysisofundiscountedfutureleasepaymentsforleaseliabilitiesLineItems', window );"><strong>Schedule of Maturity Analysis of Undiscounted Future Lease Payments for Lease Liabilities [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OperatingLeasesFutureMinimumPaymentDue', window );">Undiscounted future lease payments</a></td>
<td class="nump">5,370<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LeasesDetailsScheduleofmaturityanalysisofundiscountedfutureleasepaymentsforleaseliabilitiesLineItems', window );"><strong>Schedule of Maturity Analysis of Undiscounted Future Lease Payments for Lease Liabilities [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OperatingLeasesFutureMinimumPaymentDue', window );">Undiscounted future lease payments</a></td>
<td class="nump">4,344<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LeasesDetailsScheduleofmaturityanalysisofundiscountedfutureleasepaymentsforleaseliabilitiesLineItems', window );"><strong>Schedule of Maturity Analysis of Undiscounted Future Lease Payments for Lease Liabilities [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OperatingLeasesFutureMinimumPaymentDue', window );">Undiscounted future lease payments</a></td>
<td class="nump">3,309<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LeasesDetailsScheduleofmaturityanalysisofundiscountedfutureleasepaymentsforleaseliabilitiesLineItems', window );"><strong>Schedule of Maturity Analysis of Undiscounted Future Lease Payments for Lease Liabilities [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OperatingLeasesFutureMinimumPaymentDue', window );">Undiscounted future lease payments</a></td>
<td class="nump">2,447<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LeasesDetailsScheduleofmaturityanalysisofundiscountedfutureleasepaymentsforleaseliabilitiesLineItems', window );"><strong>Schedule of Maturity Analysis of Undiscounted Future Lease Payments for Lease Liabilities [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OperatingLeasesFutureMinimumPaymentDue', window );">Undiscounted future lease payments</a></td>
<td class="nump">1,964<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">2028 and thereafter [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LeasesDetailsScheduleofmaturityanalysisofundiscountedfutureleasepaymentsforleaseliabilitiesLineItems', window );"><strong>Schedule of Maturity Analysis of Undiscounted Future Lease Payments for Lease Liabilities [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OperatingLeasesFutureMinimumPaymentDue', window );">Undiscounted future lease payments</a></td>
<td class="nump">$ 17,258<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities related to the entity's leases. Lease is a contract, or part of a contract, that conveys the right to use an underlying asset for a period of time in exchange for consideration.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-controlling interest in the acquiree recognised at the acquisition date for business combinations in which the acquirer holds less than 100 per cent of the equity interests in the acquiree at the acquisition date. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph o<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_o_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of undiscounted operating lease payments to be received. Operating lease is a lease that does not transfer substantially all the risks and rewards incidental to ownership of an underlying asset.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 97<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_97&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LeasesDetailsScheduleofmaturityanalysisofundiscountedfutureleasepaymentsforleaseliabilitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LeasesDetailsScheduleofmaturityanalysisofundiscountedfutureleasepaymentsforleaseliabilitiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_OperatingLeasesFutureMinimumPaymentDue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of operating leases future minimum payment due.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_OperatingLeasesFutureMinimumPaymentDue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>106
<FILENAME>R92.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211616289024">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Leases (Details) - Schedule of lease information - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LeasesDetailsScheduleofleaseinformationLineItems', window );"><strong>Schedule of Lease Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ExpenseRelatingToOperatingLeaseCostsPaymentsNotIncludedInMeasurementOfLeaseLiabilities', window );">Expenses relating to operating lease costs</a></td>
<td class="nump">$ 1,930<span></span>
</td>
<td class="nump">$ 2,889<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed', window );">Expenses relating to short-term leases</a></td>
<td class="nump">109<span></span>
</td>
<td class="nump">57<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities', window );">Expenses relating to variable lease payments</a></td>
<td class="nump">2,753<span></span>
</td>
<td class="nump">2,928<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashOutflowForLeases', window );">Total cash outflow for leases</a></td>
<td class="nump">$ 4,792<span></span>
</td>
<td class="nump">$ 5,874<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashOutflowForLeases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for leases.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 53<br> -Subparagraph g<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_53_g&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashOutflowForLeases</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of the expense relating to short-term leases accounted for applying paragraph 6 of IFRS 16. This expense need not include the expense relating to leases with a lease term of one month or less. Short-term lease is a lease that, at the commencement date, has a lease term of 12 months or less. A lease that contains a purchase option is not a short-term lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 53<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_53_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of the expense relating to variable lease payments not included in the measurement of lease liabilities. Variable lease payments are the portion of payments made by a lessee to a lessor for the right to use an underlying asset during the lease term that varies because of changes in facts or circumstances occurring after the commencement date, other than the passage of time. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 53<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_53_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ExpenseRelatingToOperatingLeaseCostsPaymentsNotIncludedInMeasurementOfLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ExpenseRelatingToOperatingLeaseCostsPaymentsNotIncludedInMeasurementOfLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LeasesDetailsScheduleofleaseinformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LeasesDetailsScheduleofleaseinformationLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>107
<FILENAME>R93.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614608416">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Leases (Details) - Schedule of weighted average remaining lease terms<br></strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LeasesDetailsScheduleofweightedaverageremainingleasetermsLineItems', window );"><strong>Schedule of Weighted Average Remaining Lease Terms [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_WeightedAverageRemainingLeaseTermyears', window );">Weighted average remaining lease term (years)</a></td>
<td class="text">12 years 4 months 24 days<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_WeightedAverageDiscountRate', window );">Weighted average discount rate</a></td>
<td class="nump">2.96%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LeasesDetailsScheduleofweightedaverageremainingleasetermsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LeasesDetailsScheduleofweightedaverageremainingleasetermsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_WeightedAverageDiscountRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_WeightedAverageDiscountRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_WeightedAverageRemainingLeaseTermyears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_WeightedAverageRemainingLeaseTermyears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<DOCUMENT>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211608711856">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Leases (Details) - Schedule of right-of-use assets - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=mgic_CostMember', window );">Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAbstract3', window );"><strong>Cost:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAtBeginnings', window );">Balance as of beginning</a></td>
<td class="nump">$ 36,746<span></span>
</td>
<td class="nump">$ 31,846<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdditionsDuringTheYearAbstract3', window );"><strong>Additions during the year:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsToRightofuseAssets', window );">New leases</a></td>
<td class="nump">6,349<span></span>
</td>
<td class="nump">4,434<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ModificationOfLeases', window );">Modification of leases</a></td>
<td class="nump">678<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdjustmentsForIndexation', window );">Adjustments for indexation</a></td>
<td class="nump">1,042<span></span>
</td>
<td class="nump">289<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations', window );">Adjustments arising from translating financial statements of foreign operations</a></td>
<td class="num">(1,221)<span></span>
</td>
<td class="nump">1,940<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DisposalsDuringTheYearAbstract2', window );"><strong>Disposals during the year:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AcquisitionOfSubsidiaries', window );">Acquisition of subsidiaries</a></td>
<td class="nump">2,754<span></span>
</td>
<td class="nump">1,129<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TerminationOfLeases', window );">Termination of leases</a></td>
<td class="num">(1,025)<span></span>
</td>
<td class="num">(2,892)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAtEnding', window );">Balance as of ending</a></td>
<td class="nump">45,323<span></span>
</td>
<td class="nump">36,746<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAndAmortisationMember', window );">Accumulated depreciation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAbstract3', window );"><strong>Cost:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAtBeginnings', window );">Balance as of beginning</a></td>
<td class="nump">13,466<span></span>
</td>
<td class="nump">8,483<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdditionsDuringTheYearAbstract3', window );"><strong>Additions during the year:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationRightofuseAssets', window );">Depreciation</a></td>
<td class="nump">4,320<span></span>
</td>
<td class="nump">4,987<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations', window );">Adjustments arising from translating financial statements of foreign operations</a></td>
<td class="nump">694<span></span>
</td>
<td class="nump">1,667<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DisposalsDuringTheYearAbstract0', window );"><strong>Disposals during the year:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DepreciatedCost', window );">Depreciated cost at December 31</a></td>
<td class="nump">27,536<span></span>
</td>
<td class="nump">23,280<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DisposalsDuringTheYearAbstract2', window );"><strong>Disposals during the year:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TerminationOfLeases', window );">Termination of leases</a></td>
<td class="num">(693)<span></span>
</td>
<td class="num">(1,671)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAtEnding', window );">Balance as of ending</a></td>
<td class="nump">17,787<span></span>
</td>
<td class="nump">13,466<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_BuildingsMember', window );">Buildings [Member] | Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAbstract3', window );"><strong>Cost:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAtBeginnings', window );">Balance as of beginning</a></td>
<td class="nump">33,241<span></span>
</td>
<td class="nump">28,563<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdditionsDuringTheYearAbstract3', window );"><strong>Additions during the year:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsToRightofuseAssets', window );">New leases</a></td>
<td class="nump">4,881<span></span>
</td>
<td class="nump">4,199<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ModificationOfLeases', window );">Modification of leases</a></td>
<td class="nump">589<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdjustmentsForIndexation', window );">Adjustments for indexation</a></td>
<td class="nump">947<span></span>
</td>
<td class="nump">186<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations', window );">Adjustments arising from translating financial statements of foreign operations</a></td>
<td class="num">(1,228)<span></span>
</td>
<td class="nump">1,781<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DisposalsDuringTheYearAbstract2', window );"><strong>Disposals during the year:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AcquisitionOfSubsidiaries', window );">Acquisition of subsidiaries</a></td>
<td class="nump">2,714<span></span>
</td>
<td class="nump">1,129<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TerminationOfLeases', window );">Termination of leases</a></td>
<td class="num">(692)<span></span>
</td>
<td class="num">(2,617)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAtEnding', window );">Balance as of ending</a></td>
<td class="nump">40,452<span></span>
</td>
<td class="nump">33,241<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_BuildingsMember', window );">Buildings [Member] | Accumulated depreciation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAbstract3', window );"><strong>Cost:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAtBeginnings', window );">Balance as of beginning</a></td>
<td class="nump">11,943<span></span>
</td>
<td class="nump">7,432<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdditionsDuringTheYearAbstract3', window );"><strong>Additions during the year:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationRightofuseAssets', window );">Depreciation</a></td>
<td class="nump">3,151<span></span>
</td>
<td class="nump">4,514<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations', window );">Adjustments arising from translating financial statements of foreign operations</a></td>
<td class="nump">665<span></span>
</td>
<td class="nump">1,510<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DisposalsDuringTheYearAbstract0', window );"><strong>Disposals during the year:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DepreciatedCost', window );">Depreciated cost at December 31</a></td>
<td class="nump">25,202<span></span>
</td>
<td class="nump">21,296<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DisposalsDuringTheYearAbstract2', window );"><strong>Disposals during the year:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TerminationOfLeases', window );">Termination of leases</a></td>
<td class="num">(509)<span></span>
</td>
<td class="num">(1,511)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAtEnding', window );">Balance as of ending</a></td>
<td class="nump">15,250<span></span>
</td>
<td class="nump">11,945<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_MotorVehiclesMember', window );">Motor vehicles [Member] | Cost [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAbstract3', window );"><strong>Cost:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAtBeginnings', window );">Balance as of beginning</a></td>
<td class="nump">3,505<span></span>
</td>
<td class="nump">3,283<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdditionsDuringTheYearAbstract3', window );"><strong>Additions during the year:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsToRightofuseAssets', window );">New leases</a></td>
<td class="nump">1,468<span></span>
</td>
<td class="nump">235<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ModificationOfLeases', window );">Modification of leases</a></td>
<td class="nump">89<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdjustmentsForIndexation', window );">Adjustments for indexation</a></td>
<td class="nump">95<span></span>
</td>
<td class="nump">103<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations', window );">Adjustments arising from translating financial statements of foreign operations</a></td>
<td class="nump">7<span></span>
</td>
<td class="nump">159<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DisposalsDuringTheYearAbstract2', window );"><strong>Disposals during the year:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AcquisitionOfSubsidiaries', window );">Acquisition of subsidiaries</a></td>
<td class="nump">40<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TerminationOfLeases', window );">Termination of leases</a></td>
<td class="num">(333)<span></span>
</td>
<td class="num">(275)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAtEnding', window );">Balance as of ending</a></td>
<td class="nump">4,871<span></span>
</td>
<td class="nump">3,505<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_MotorVehiclesMember', window );">Motor vehicles [Member] | Accumulated depreciation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAbstract3', window );"><strong>Cost:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAtBeginnings', window );">Balance as of beginning</a></td>
<td class="nump">1,523<span></span>
</td>
<td class="nump">1,051<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdditionsDuringTheYearAbstract3', window );"><strong>Additions during the year:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationRightofuseAssets', window );">Depreciation</a></td>
<td class="nump">1,169<span></span>
</td>
<td class="nump">473<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations', window );">Adjustments arising from translating financial statements of foreign operations</a></td>
<td class="nump">29<span></span>
</td>
<td class="nump">157<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DisposalsDuringTheYearAbstract0', window );"><strong>Disposals during the year:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DepreciatedCost', window );">Depreciated cost at December 31</a></td>
<td class="nump">2,334<span></span>
</td>
<td class="nump">1,984<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DisposalsDuringTheYearAbstract2', window );"><strong>Disposals during the year:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TerminationOfLeases', window );">Termination of leases</a></td>
<td class="num">(184)<span></span>
</td>
<td class="num">(160)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostAtEnding', window );">Balance as of ending</a></td>
<td class="nump">$ 2,537<span></span>
</td>
<td class="nump">$ 1,521<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionsToRightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of additions to right-of-use assets. [Refer: Right-of-use assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 53<br> -Subparagraph h<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_53_h&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionsToRightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationRightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation of right-of-use assets. [Refer: Depreciation and amortisation expense; Right-of-use assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 53<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_53_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationRightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AcquisitionOfSubsidiaries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of acquisition of subsidiaries.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AcquisitionOfSubsidiaries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AdditionsDuringTheYearAbstract3">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AdditionsDuringTheYearAbstract3</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Adjustments arising from translating financial statements of foreign operations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AdjustmentsForIndexation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AdjustmentsForIndexation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CostAbstract3">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CostAbstract3</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CostAtBeginnings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CostAtBeginnings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CostAtEnding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CostAtEnding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DepreciatedCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DepreciatedCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DisposalsDuringTheYearAbstract0">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DisposalsDuringTheYearAbstract0</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DisposalsDuringTheYearAbstract2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DisposalsDuringTheYearAbstract2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ModificationOfLeases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ModificationOfLeases</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_TerminationOfLeases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_TerminationOfLeases</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=mgic_CostMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=mgic_CostMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAndAmortisationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAndAmortisationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_BuildingsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_BuildingsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_MotorVehiclesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_MotorVehiclesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
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<DOCUMENT>
<TYPE>XML
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<FILENAME>R95.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211607308416">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share Based Payments (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Mar. 07, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShareBasedPaymentsDetailsLineItems', window );"><strong>Share Based Payments (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PurchaseOfShares', window );">Purchase of shares (in Shares)</a></td>
<td class="nump">4,028<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_StockOptionPlansOfTheCompanyMember', window );">Stock Option Plans of the Company [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShareBasedPaymentsDetailsLineItems', window );"><strong>Share Based Payments (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares', window );">Reserved ordinary shares for issuance (in Shares)</a></td>
<td class="nump">2,750,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AggregateOrdinarySharesAvailableForFutureGrants', window );">Aggregate ordinary shares available for future grants (in Shares)</a></td>
<td class="nump">952,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OptionGrantExercisableContractualLifeOfOutstandingShareOption', window );">Option grant is exercisable</a></td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ExpectedDividendShareOptionsGranted', window );">Expected dividend assumption</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PurchaseOfOptionShares', window );">Options to purchase its shares (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">80,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalIntrinsicValueOfOptionsExercised', window );">Total intrinsic value of options exercised</a></td>
<td class="nump">344<span></span>
</td>
<td class="nump">$ 628<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_UnrecognizedCompensationCostRelatedToNonVestedOptions', window );">Unrecognized compensation cost related to non-vested options</a></td>
<td class="nump">$ 112<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_StockOptionPlanOfCommITSolutionsMember', window );">Stock Option Plan of Comm-IT Solutions [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShareBasedPaymentsDetailsLineItems', window );"><strong>Share Based Payments (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PurchaseOfOptionShares', window );">Options to purchase its shares (in Shares)</a></td>
<td class="nump">4,028<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_UnrecognizedCompensationCostRelatedToNonVestedOptions', window );">Unrecognized compensation cost related to non-vested options</a></td>
<td class="nump">$ 2,885<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DescriptionOfExercisePriceRange', window );">Description of exercise price range</a></td>
<td class="text">$0.28-$1,878<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfSharesIssuedAndFullyPaid', window );">Options have fully vested upon their grant (in Shares)</a></td>
<td class="nump">827<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_WeightedAverageRemainingContractualLifeOfOutstandingShareOption', window );">Weighted average period</a></td>
<td class="text">1 year 1 month 17 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_CostOfSharebasedPaymentMember', window );">Cost of share-based payment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShareBasedPaymentsDetailsLineItems', window );"><strong>Share Based Payments (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees', window );">Share-based payment expense related to employee stock options</a></td>
<td class="nump">$ 2,079<span></span>
</td>
<td class="nump">$ 956<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [Member] | Stock Option Plans of the Company [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShareBasedPaymentsDetailsLineItems', window );"><strong>Share Based Payments (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ExerciseOptionVestLife', window );">Options vest</a></td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [Member] | Stock Option Plans of the Company [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShareBasedPaymentsDetailsLineItems', window );"><strong>Share Based Payments (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ExerciseOptionVestLife', window );">Options vest</a></td>
<td class="text">4 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpectedDividendShareOptionsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of an expected dividend used to calculate the fair value of share options granted.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 47<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_47_a_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpectedDividendShareOptionsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense from share-based payment transactions with employees. [Refer: Expense from share-based payment transactions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfSharesIssuedAndFullyPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of shares issued by the entity, for which full payment has been received.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 79<br> -Subparagraph a<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_79_a_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfSharesIssuedAndFullyPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of shares reserved for issue under options and contracts for the sale of shares.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 79<br> -Subparagraph a<br> -Clause vii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_79_a_vii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AggregateOrdinarySharesAvailableForFutureGrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of aggregate ordinary shares available for future grants.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AggregateOrdinarySharesAvailableForFutureGrants</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DescriptionOfExercisePriceRange">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Description of exercise price range.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DescriptionOfExercisePriceRange</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ExerciseOptionVestLife">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Option vest life of outstanding share options.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ExerciseOptionVestLife</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_OptionGrantExercisableContractualLifeOfOutstandingShareOption">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average remaining contractual life of outstanding share options. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_OptionGrantExercisableContractualLifeOfOutstandingShareOption</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_PurchaseOfOptionShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Purchase of option shares.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_PurchaseOfOptionShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_PurchaseOfShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Purchase of shares.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_PurchaseOfShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ShareBasedPaymentsDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ShareBasedPaymentsDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_TotalIntrinsicValueOfOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of total intrinsic value of options exercised.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_TotalIntrinsicValueOfOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_UnrecognizedCompensationCostRelatedToNonVestedOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of unrecognized compensation cost related to non-vested options.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_UnrecognizedCompensationCostRelatedToNonVestedOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_WeightedAverageRemainingContractualLifeOfOutstandingShareOption">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average remaining contractual life of outstanding share options. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_WeightedAverageRemainingContractualLifeOfOutstandingShareOption</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_StockOptionPlansOfTheCompanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_StockOptionPlansOfTheCompanyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_StockOptionPlanOfCommITSolutionsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_StockOptionPlanOfCommITSolutionsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_CostOfSharebasedPaymentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_CostOfSharebasedPaymentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</body>
</html>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>110
<FILENAME>R96.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211606227552">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share Based Payments (Details) - Schedule of fair value of the options granted using the Binomial model<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>$ / shares</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShareBasedPaymentsDetailsScheduleoffairvalueoftheoptionsgrantedusingtheBinomialmodelLineItems', window );"><strong>Schedule of Fair Value of the Options Granted Using the Binomial Model [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageSharePriceShareOptionsGranted2019', window );">Share price (in Dollars per share)</a></td>
<td class="nump">$ 2,110<span></span>
</td>
<td class="nump">$ 16.85<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019', window );">Contractual life</a></td>
<td class="text">8 years<span></span>
</td>
<td class="text">10 years<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_WeightedAverageExpectedExerciseFactor', window );">Expected exercise factor</a></td>
<td class="nump">1.5<span></span>
</td>
<td class="nump">1.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted', window );">Dividend yield</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted', window );">Expected volatility (weighted average)</a></td>
<td class="nump">41.00%<span></span>
</td>
<td class="nump">35.10%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_FairValueOfOptionAtTheGrantDate', window );">Fair value of option at the grant date (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16.85<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShareBasedPaymentsDetailsScheduleoffairvalueoftheoptionsgrantedusingtheBinomialmodelLineItems', window );"><strong>Schedule of Fair Value of the Options Granted Using the Binomial Model [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted', window );">Risk-free interest rate</a></td>
<td class="nump">3.28%<span></span>
</td>
<td class="nump">0.50%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_FairValueOfOptionAtTheGrantDate', window );">Fair value of option at the grant date (in Dollars per share)</a></td>
<td class="nump">$ 1,078<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShareBasedPaymentsDetailsScheduleoffairvalueoftheoptionsgrantedusingtheBinomialmodelLineItems', window );"><strong>Schedule of Fair Value of the Options Granted Using the Binomial Model [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted', window );">Risk-free interest rate</a></td>
<td class="nump">3.65%<span></span>
</td>
<td class="nump">1.30%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_FairValueOfOptionAtTheGrantDate', window );">Fair value of option at the grant date (in Dollars per share)</a></td>
<td class="nump">$ 2,126<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The expected volatility of the share price used to calculate the fair value of the share options granted. Expected volatility is a measure of the amount by which a price is expected to fluctuate during a period. The measure of volatility used in option pricing models is the annualised standard deviation of the continuously compounded rates of return on the share over a period of time.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 47<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_47_a_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The implied yield currently available on zero-coupon government issues of the country in whose currency the exercise price for share options granted is expressed, with a remaining term equal to the expected term of the option being valued (based on the option's remaining contractual life and taking into account the effects of expected early exercise). [Refer: Government [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 47<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_47_a_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The percentage of an expected dividend used to calculate the fair value of share options granted.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 47<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_47_a_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average remaining contractual life of outstanding share options. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageSharePriceShareOptionsGranted2019">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average share price used as input to the option pricing model to calculate the fair value of share options granted. [Refer: Option pricing model [member]; Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 47<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_47_a_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageSharePriceShareOptionsGranted2019</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_FairValueOfOptionAtTheGrantDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair value of option at the grant date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_FairValueOfOptionAtTheGrantDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ShareBasedPaymentsDetailsScheduleoffairvalueoftheoptionsgrantedusingtheBinomialmodelLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ShareBasedPaymentsDetailsScheduleoffairvalueoftheoptionsgrantedusingtheBinomialmodelLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_WeightedAverageExpectedExerciseFactor">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average expected exercise factor.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_WeightedAverageExpectedExerciseFactor</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>111
<FILENAME>R97.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211607369616">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share Based Payments (Details) - Schedule of employee option activity<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2022 </div>
<div>USD ($) </div>
<div>$ / shares</div>
</th></tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_TwoThousandSevenPlanMember', window );">Two Thousand Seven Plan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShareBasedPaymentsDetailsScheduleofemployeeoptionactivityLineItems', window );"><strong>Schedule of Employee Option Activity [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOutstandingShareOptions', window );">Number of options, Outstanding Beginning</a></td>
<td class="nump">66,250<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019', window );">Weighted average exercise price, Outstanding Beginning</a></td>
<td class="nump">$ 0.45<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_WeightedAverageRemainingContractualTermOutstandingBeginning', window );">Weighted average remaining contractual term, Outstanding Beginning</a></td>
<td class="text">7 years 11 months 15 days<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding', window );">Aggregate intrinsic value, Outstanding Beginning | $</a></td>
<td class="nump">$ 1,360<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement', window );">Number of options, Exercised</a></td>
<td class="num">(20,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019', window );">Weighted average exercise price, Exercised</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement', window );">Number of options, Forfeited</a></td>
<td class="num">(20,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019', window );">Weighted average exercise price, Forfeited</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOutstandingShareOptions', window );">Number of options, Outstanding Ending</a></td>
<td class="nump">26,250<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019', window );">Weighted average exercise price, Outstanding Ending</a></td>
<td class="nump">$ 0.91<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_WeightedAverageRemainingContractualTermOutstandingEnding', window );">Weighted average remaining contractual term, Outstanding Ending</a></td>
<td class="text">5 years 11 months 12 days<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding', window );">Aggregate intrinsic value, Outstanding Ending | $</a></td>
<td class="nump">$ 397<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement', window );">Number of options, Exercisable</a></td>
<td class="nump">6,250<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019', window );">Weighted average exercise price, Exercisable</a></td>
<td class="nump">$ 3.81<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_WeightedAverageRemainingContractualTermExercisable', window );">Weighted average remaining contractual term, Exercisable</a></td>
<td class="text">7 months 6 days<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShareBasedCompensationAggregateIntrinsicValueExercisable', window );">Aggregate intrinsic value, Exercisable | $</a></td>
<td class="nump">$ 76<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_CommITSolutions2022PlanMember', window );">Comm-IT Solutions 2022 Plan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShareBasedPaymentsDetailsScheduleofemployeeoptionactivityLineItems', window );"><strong>Schedule of Employee Option Activity [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOutstandingShareOptions', window );">Number of options, Outstanding Beginning</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019', window );">Weighted average exercise price, Outstanding Beginning</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_WeightedAverageRemainingContractualTermOutstandingBeginning', window );">Weighted average remaining contractual term, Outstanding Beginning</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding', window );">Aggregate intrinsic value, Outstanding Beginning | $</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement', window );">Number of options, Granted</a></td>
<td class="nump">4,028<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019', window );">Weighted average exercise price, Granted</a></td>
<td class="nump">$ 264.67<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOutstandingShareOptions', window );">Number of options, Outstanding Ending</a></td>
<td class="nump">4,028<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019', window );">Weighted average exercise price, Outstanding Ending</a></td>
<td class="nump">$ 264.67<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_WeightedAverageRemainingContractualTermOutstandingEnding', window );">Weighted average remaining contractual term, Outstanding Ending</a></td>
<td class="text">7 years 11 months 8 days<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding', window );">Aggregate intrinsic value, Outstanding Ending | $</a></td>
<td class="nump">$ 7,499<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement', window );">Number of options, Exercisable</a></td>
<td class="nump">827<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019', window );">Weighted average exercise price, Exercisable</a></td>
<td class="nump">$ 0.28<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_WeightedAverageRemainingContractualTermExercisable', window );">Weighted average remaining contractual term, Exercisable</a></td>
<td class="text">7 years 11 months 1 day<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShareBasedCompensationAggregateIntrinsicValueExercisable', window );">Aggregate intrinsic value, Exercisable | $</a></td>
<td class="nump">$ 1,839<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfOutstandingShareOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of share options outstanding in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45_b_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -Subparagraph b<br> -Clause vi<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45_b_vi&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfOutstandingShareOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of share options exercisable in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -Subparagraph b<br> -Clause vii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45_b_vii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of share options exercised in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -Subparagraph b<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45_b_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of share options forfeited in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of share options granted in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -Subparagraph b<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45_b_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average exercise price of share options exercisable in a share-based payment arrangement. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -Subparagraph b<br> -Clause vii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45_b_vii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average exercise price of share options exercised in a share-based payment arrangement. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -Subparagraph b<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45_b_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average exercise price of share options forfeited in a share-based payment arrangement. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average exercise price of share options granted in a share-based payment arrangement. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -Subparagraph b<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45_b_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average exercise price of share options outstanding in a share-based payment arrangement. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45_b_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -Subparagraph b<br> -Clause vi<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45_b_vi&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ShareBasedCompensationAggregateIntrinsicValueExercisable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of share based compensation aggregate intrinsic value exercisable.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ShareBasedCompensationAggregateIntrinsicValueExercisable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of share based compensation aggregate intrinsic value outstanding.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ShareBasedCompensationsAggregateIntrinsicValueOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ShareBasedPaymentsDetailsScheduleofemployeeoptionactivityLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ShareBasedPaymentsDetailsScheduleofemployeeoptionactivityLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_WeightedAverageRemainingContractualTermExercisable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average remaining contractual life of outstanding share options. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_WeightedAverageRemainingContractualTermExercisable</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_WeightedAverageRemainingContractualTermOutstandingBeginning">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average remaining contractual life of outstanding share options. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_WeightedAverageRemainingContractualTermOutstandingBeginning</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_WeightedAverageRemainingContractualTermOutstandingEnding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average remaining contractual life of outstanding share options. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_WeightedAverageRemainingContractualTermOutstandingEnding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<td>xbrli:durationItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_TwoThousandSevenPlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_TwoThousandSevenPlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_CommITSolutions2022PlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_CommITSolutions2022PlanMember</td>
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<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
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<td></td>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211608252816">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share Based Payments (Details) - Schedule of options outstanding<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2022 </div>
<div>$ / shares </div>
<div>shares</div>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_ZeroMember', window );">Zero [Member]</a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShareBasedPaymentsDetailsScheduleofoptionsoutstandingLineItems', window );"><strong>Schedule of Options Outstanding [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement', window );">Options outstanding, Exercise price</a></td>
<td class="nump">20,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_WeightedAverageRemainingContractualLifeExercisePrice', window );">Weighted average remaining contractual life, Exercise price</a></td>
<td class="text">7 years 7 months 13 days<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice', window );">Options exercisable, Exercise price (in Shares) | shares</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019', window );">Weighted average exercise price of exercisable options, Exercise price (in Dollars per share) | $ / shares</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_ThreePointEightOneMember', window );">3.81 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShareBasedPaymentsDetailsScheduleofoptionsoutstandingLineItems', window );"><strong>Schedule of Options Outstanding [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement', window );">Options outstanding, Exercise price</a></td>
<td class="nump">6,250<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_WeightedAverageRemainingContractualLifeExercisePrice', window );">Weighted average remaining contractual life, Exercise price</a></td>
<td class="text">7 months 6 days<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice', window );">Options exercisable, Exercise price (in Shares) | shares</a></td>
<td class="nump">6,250<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019', window );">Weighted average exercise price of exercisable options, Exercise price (in Dollars per share) | $ / shares</a></td>
<td class="nump">$ 3.81<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_StockOptionPlansOfTheCompanyMember', window );">Stock Option Plans of the Company [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShareBasedPaymentsDetailsScheduleofoptionsoutstandingLineItems', window );"><strong>Schedule of Options Outstanding [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement', window );">Options outstanding, Exercise price</a></td>
<td class="nump">26,250<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_WeightedAverageRemainingContractualLifeExercisePrice', window );">Weighted average remaining contractual life, Exercise price</a></td>
<td class="text">5 years 11 months 26 days<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice', window );">Options exercisable, Exercise price (in Shares) | shares</a></td>
<td class="nump">6,250<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019', window );">Weighted average exercise price of exercisable options, Exercise price (in Dollars per share) | $ / shares</a></td>
<td class="nump">$ 3.81<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_ZeroPointTwoEightMember', window );">0.28 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShareBasedPaymentsDetailsScheduleofoptionsoutstandingLineItems', window );"><strong>Schedule of Options Outstanding [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement', window );">Options outstanding, Exercise price</a></td>
<td class="nump">3,238<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_WeightedAverageRemainingContractualLifeExercisePrice', window );">Weighted average remaining contractual life, Exercise price</a></td>
<td class="text">7 years 11 months 1 day<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice', window );">Options exercisable, Exercise price (in Shares) | shares</a></td>
<td class="nump">827<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019', window );">Weighted average exercise price of exercisable options, Exercise price (in Dollars per share) | $ / shares</a></td>
<td class="nump">$ 0.28<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_FourHunderedSixtyNineMember', window );">469 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShareBasedPaymentsDetailsScheduleofoptionsoutstandingLineItems', window );"><strong>Schedule of Options Outstanding [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement', window );">Options outstanding, Exercise price</a></td>
<td class="nump">297<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_WeightedAverageRemainingContractualLifeExercisePrice', window );">Weighted average remaining contractual life, Exercise price</a></td>
<td class="text">7 years 11 months 26 days<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice', window );">Options exercisable, Exercise price (in Shares) | shares</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019', window );">Weighted average exercise price of exercisable options, Exercise price (in Dollars per share) | $ / shares</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_OneThosandEightSeventyEightMember', window );">1,878 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShareBasedPaymentsDetailsScheduleofoptionsoutstandingLineItems', window );"><strong>Schedule of Options Outstanding [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement', window );">Options outstanding, Exercise price</a></td>
<td class="nump">493<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_WeightedAverageRemainingContractualLifeExercisePrice', window );">Weighted average remaining contractual life, Exercise price</a></td>
<td class="text">7 years 11 months 26 days<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice', window );">Options exercisable, Exercise price (in Shares) | shares</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019', window );">Weighted average exercise price of exercisable options, Exercise price (in Dollars per share) | $ / shares</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_StockOptionPlanOfCommITSolutionsMember', window );">Stock Option Plan of Comm-IT Solutions [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShareBasedPaymentsDetailsScheduleofoptionsoutstandingLineItems', window );"><strong>Schedule of Options Outstanding [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement', window );">Options outstanding, Exercise price</a></td>
<td class="nump">4,028<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_WeightedAverageRemainingContractualLifeExercisePrice', window );">Weighted average remaining contractual life, Exercise price</a></td>
<td class="text">7 years 11 months 8 days<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice', window );">Options exercisable, Exercise price (in Shares) | shares</a></td>
<td class="nump">827<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019', window );">Weighted average exercise price of exercisable options, Exercise price (in Dollars per share) | $ / shares</a></td>
<td class="nump">$ 0.28<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of other equity instruments (ie other than share options) exercisable in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average exercise price of other equity instruments (ie other than share options) exercisable in a share-based payment arrangement. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ShareBasedPaymentsDetailsScheduleofoptionsoutstandingLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ShareBasedPaymentsDetailsScheduleofoptionsoutstandingLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average exercise price of other equity instruments (ie other than share options) exercisable in a share-based payment arrangement. [Refer: Weighted average [member]]

 References</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_WeightedAverageRemainingContractualLifeExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average remaining contractual life of outstanding share options. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_WeightedAverageRemainingContractualLifeExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_ZeroMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_ZeroMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_ThreePointEightOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_ThreePointEightOneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_StockOptionPlansOfTheCompanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_StockOptionPlansOfTheCompanyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_ZeroPointTwoEightMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_ZeroPointTwoEightMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_FourHunderedSixtyNineMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_FourHunderedSixtyNineMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_OneThosandEightSeventyEightMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_OneThosandEightSeventyEightMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_StockOptionPlanOfCommITSolutionsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_StockOptionPlanOfCommITSolutionsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>113
<FILENAME>R99.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211607851888">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share Based Payments (Details) - Schedule of share-based payment expense related to employee stock option - Cost of share-based payment [Member] - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ShareBasedPaymentsDetailsScheduleofsharebasedpaymentexpenserelatedtoemployeestockoptionLineItems', window );"><strong>Schedule of Share-Based Payment Expense Related to Employee Stock Option [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SellingAndMarketingExpenses', window );">Selling and marketing expenses</a></td>
<td class="num">$ (56)<span></span>
</td>
<td class="nump">$ 956<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeneralAndAdministrativeExpense', window );">General and administrative expenses</a></td>
<td class="nump">2,135<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdjustmentsForSharebasedPayments', window );">Total</a></td>
<td class="nump">$ 2,079<span></span>
</td>
<td class="nump">$ 956<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForSharebasedPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Adjustments for share-based payments to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 20<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_20_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForSharebasedPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense relating to general and administrative activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_SellingAndMarketingExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_SellingAndMarketingExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ShareBasedPaymentsDetailsScheduleofsharebasedpaymentexpenserelatedtoemployeestockoptionLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ShareBasedPaymentsDetailsScheduleofsharebasedpaymentexpenserelatedtoemployeestockoptionLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_CostOfSharebasedPaymentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=mgic_CostOfSharebasedPaymentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>114
<FILENAME>R100.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
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</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211641225248">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Employee Benefit Liabilities (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfInformationAboutDefinedBenefitPlansAbstract', window );"><strong>Disclosure of information about defined benefit plans [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SeveranceExpenses', window );">Severance expenses</a></td>
<td class="nump">$ 7,078<span></span>
</td>
<td class="nump">$ 5,267<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AnnualCompensationPercentage', window );">Annual compensation percentage</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_EmployeeContributionsPercentage', window );">Employee contributions percentage</a></td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfInformationAboutDefinedBenefitPlansAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfInformationAboutDefinedBenefitPlansAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AnnualCompensationPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Annual compensation percentage.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AnnualCompensationPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_EmployeeContributionsPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Employee contributions percentage.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_EmployeeContributionsPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_SeveranceExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Severance expenses.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_SeveranceExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>115
<FILENAME>R101.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614557088">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Employee Benefit Liabilities (Details) - Schedule of defined benefit plans - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Jan. 01, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_EmployeeBenefitLiabilitiesDetailsScheduleofdefinedbenefitplansLineItems', window );"><strong>Schedule Of Defined Benefit Plans [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DefinedBenefitObligationAtPresentValue', window );">Defined benefit obligation</a></td>
<td class="nump">$ 2,476<span></span>
</td>
<td class="nump">$ 4,551<span></span>
</td>
<td class="nump">$ 5,545<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PlanAssetsAtFairValue', window );">Fair value of plan assets</a></td>
<td class="num">(1,575)<span></span>
</td>
<td class="num">(3,646)<span></span>
</td>
<td class="num">(4,673)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentProvisionsForEmployeeBenefits', window );">Net defined benefit liability</a></td>
<td class="nump">$ 901<span></span>
</td>
<td class="nump">$ 905<span></span>
</td>
<td class="nump">$ 872<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DefinedBenefitObligationAtPresentValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The present value, without deducting any plan assets, of expected future payments required to settle the obligation resulting from employee service in the current and prior periods. [Refer: Plan assets, at fair value]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 57<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_57_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DefinedBenefitObligationAtPresentValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentProvisionsForEmployeeBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current provisions for employee benefits. [Refer: Provisions for employee benefits]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentProvisionsForEmployeeBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PlanAssetsAtFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fair value of defined benefit plan assets. Plan assets comprise assets held by a long-term employee benefit fund and qualifying insurance policies. [Refer: At fair value [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 57<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_57_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PlanAssetsAtFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_EmployeeBenefitLiabilitiesDetailsScheduleofdefinedbenefitplansLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_EmployeeBenefitLiabilitiesDetailsScheduleofdefinedbenefitplansLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>116
<FILENAME>R102.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211606226992">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies (Details)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2"></th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 31, 2021 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2016 </div>
<div>ILS (&#8362;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CommitmentsandContingenciesDetailsLineItems', window );"><strong>Commitments and Contingencies (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepositsFromBanks', window );">Bank deposits</a></td>
<td class="nump">$ 31<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Cash', window );">Won damages</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,600<span></span>
</td>
<td class="nump">$ 2,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LossContingencyDamagesSoughtValues', window );">Filed lawsuit seeking damages (in New Shekels) | &#8362;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8362; 34,106<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_MajorCustomersMember', window );">Customers [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CommitmentsandContingenciesDetailsLineItems', window );"><strong>Commitments and Contingencies (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LeaseAmount', window );">Lease cost</a></td>
<td class="nump">2,053<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=mgic_CustomersoneMember', window );">Customer [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CommitmentsandContingenciesDetailsLineItems', window );"><strong>Commitments and Contingencies (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LeaseAmount', window );">Lease cost</a></td>
<td class="nump">$ 912<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Cash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits. [Refer: Cash on hand]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Cash</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepositsFromBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of deposit liabilities from banks held by the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepositsFromBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CommitmentsandContingenciesDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CommitmentsandContingenciesDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LeaseAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of lease cost recognized by lessee for lease contract.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LeaseAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LossContingencyDamagesSoughtValues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The value (monetary amount) of the award the plaintiff seeks in the legal matter.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LossContingencyDamagesSoughtValues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_MajorCustomersMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_MajorCustomersMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=mgic_CustomersoneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=mgic_CustomersoneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<DOCUMENT>
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<head>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211607260144">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Equity (Details) - USD ($)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th"><div>Mar. 09, 2023</div></th>
<th class="th"><div>Aug. 11, 2022</div></th>
<th class="th"><div>Mar. 02, 2022</div></th>
<th class="th"><div>Aug. 12, 2021</div></th>
<th class="th"><div>Mar. 08, 2021</div></th>
<th class="th"><div>Aug. 09, 2017</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DisclosureOfReservesWithinEquityTextBlockAbstract', window );"><strong>Disclosure Of Reserves Within Equity Text Block Abstract</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DividendDistributed', window );">Dividend distributed</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">75.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare', window );">Dividend distribution per share</a></td>
<td class="nump">$ 0.3<span></span>
</td>
<td class="nump">$ 0.29<span></span>
</td>
<td class="nump">$ 0.216<span></span>
</td>
<td class="nump">$ 0.23<span></span>
</td>
<td class="nump">$ 0.21<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendsPayable', window );">Dividend distribution</a></td>
<td class="nump">$ 14,728<span></span>
</td>
<td class="nump">$ 14,237<span></span>
</td>
<td class="nump">$ 10,612<span></span>
</td>
<td class="nump">$ 11,480<span></span>
</td>
<td class="nump">$ 10,297<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends payable by means of the distribution of non-cash assets to owners.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRIC<br> -Number 17<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRIC&amp;num=17&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount, per share, of dividends recognised as distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 107<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_107&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DisclosureOfReservesWithinEquityTextBlockAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DisclosureOfReservesWithinEquityTextBlockAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DividendDistributed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DividendDistributed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>118
<FILENAME>R104.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
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<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211607225488">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity (Details) - Schedule of accumulated other comprehensive income (loss) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_EquityDetailsScheduleofaccumulatedothercomprehensiveincomelossLineItems', window );"><strong>Schedule of Accumulated Other Comprehensive Incomeloss [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax', window );">Accumulated foreign currency translation adjustments</a></td>
<td class="num">$ (6,585)<span></span>
</td>
<td class="nump">$ 9,238<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedUnrealizedGainOnDerivativeInstrumentsNet', window );">Accumulated unrealized gain on derivative instruments, net</a></td>
<td class="nump">26<span></span>
</td>
<td class="nump">26<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans', window );">Total other comprehensive income (loss)</a></td>
<td class="num">$ (6,559)<span></span>
</td>
<td class="nump">$ 9,264<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in other comprehensive income on exchange differences on the translation of financial statements of foreign operations, before tax, before reclassification adjustments. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 91<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_91_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, before tax, related to gains (losses) on remeasurements of defined benefit plans, which comprise actuarial gains and losses; the return on plan assets, excluding amounts included in net interest on the net defined benefit liability (asset); and any change in the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability (asset). [Refer: Other comprehensive income; Defined benefit plans [member]; Plan assets [member]; Net defined benefit liability (asset)] [Contrast: Decrease (increase) in net defined benefit liability (asset) resulting from gain (loss) on remeasurement in other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 135<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_135_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 91<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_91_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AccumulatedUnrealizedGainOnDerivativeInstrumentsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AccumulatedUnrealizedGainOnDerivativeInstrumentsNet</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_EquityDetailsScheduleofaccumulatedothercomprehensiveincomelossLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_EquityDetailsScheduleofaccumulatedothercomprehensiveincomelossLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>119
<FILENAME>R105.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211608669952">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Tax (Details)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="3">1 Months Ended</th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 01, 2017</div></th>
<th class="th">
<div>Nov. 30, 2022 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Nov. 30, 2022 </div>
<div>ILS (&#8362;)</div>
</th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>USD ($)</div>
</th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IncomeTaxDetailsLineItems', window );"><strong>Income Tax (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TaxableIncomePercentage', window );">Taxable income percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">23.00%<span></span>
</td>
<td class="nump">23.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TaxRateEffectFromChangeInTaxRate', window );">Preferred tax rate percentage</a></td>
<td class="nump">6.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TaxRateEffectOfTaxLosses', window );">Tax rate percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7.50%<span></span>
</td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LeasePercentage', window );">Lease percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="nump">90.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccumulatedTaxExemptEarnings', window );">Total accumulated tax-exempt earnings amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 7,100,000<span></span>
</td>
<td class="nump">&#8362; 25,022<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TaxExpenses', window );">Tax expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 711,000<span></span>
</td>
<td class="nump">&#8362; 2,502<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentRestrictedCashAndCashEquivalents', window );">Cash and cash equivalents (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 28,950,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OperatingLossCarryforwardsAmount', window );">Operating loss carryforwards amount (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,150,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_GB', window );">England [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IncomeTaxDetailsLineItems', window );"><strong>Income Tax (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TaxLossCarryforwards', window );">Tax loss carryforwards (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,536,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_US', window );">U.S [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IncomeTaxDetailsLineItems', window );"><strong>Income Tax (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TaxLossCarryforwards', window );">Tax loss carryforwards (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,741,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=mgic_FormulaTelecomSolutionsLtdMember', window );">Formula Telecom Solutions, Ltd. [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IncomeTaxDetailsLineItems', window );"><strong>Income Tax (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OperatingLossCarryforwardsAmount', window );">Operating loss carryforwards amount (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 8,959,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestRateBenchmarksAxis=mgic_SPTEMember', window );">SPTE [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IncomeTaxDetailsLineItems', window );"><strong>Income Tax (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TaxRateEffectFromChangeInTaxRate', window );">Preferred tax rate percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TaxRateEffectOfTaxLosses', window );">Tax rate percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IncomeTaxDetailsLineItems', window );"><strong>Income Tax (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TaxRateEffectFromChangeInTaxRate', window );">Preferred tax rate percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IncomeTaxDetailsLineItems', window );"><strong>Income Tax (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TaxEffectFromChangeInTaxRate', window );">(in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentRestrictedCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current restricted cash and cash equivalents. [Refer: Restricted cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentRestrictedCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxEffectFromChangeInTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to changes in the tax rate. [Refer: Accounting profit]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxEffectFromChangeInTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxRateEffectFromChangeInTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The tax rate effect on the reconciliation between the average effective tax rate and the applicable tax rate resulting from a change in tax rate. [Refer: Average effective tax rate; Applicable tax rate]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxRateEffectFromChangeInTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxRateEffectOfTaxLosses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The tax rate effect on the reconciliation between the average effective tax rate and the applicable tax rate resulting from tax losses. [Refer: Average effective tax rate; Applicable tax rate]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxRateEffectOfTaxLosses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AccumulatedTaxExemptEarnings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated tax exempt earnings.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AccumulatedTaxExemptEarnings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_IncomeTaxDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_IncomeTaxDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LeasePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Lease percentage.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LeasePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_OperatingLossCarryforwardsAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Operating loss carryforwards amount.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_OperatingLossCarryforwardsAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_TaxExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tax expenses.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_TaxExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_TaxLossCarryforwards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tax loss carryforwards.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_TaxLossCarryforwards</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_TaxableIncomePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Taxable income percentage.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_TaxableIncomePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_GB">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_GB</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_US">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_US</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=mgic_FormulaTelecomSolutionsLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=mgic_FormulaTelecomSolutionsLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestRateBenchmarksAxis=mgic_SPTEMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestRateBenchmarksAxis=mgic_SPTEMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211606230480">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Income Tax (Details) - Schedule of presentation in the consolidated statements of financial position - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Jan. 01, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ScheduleOfPresentationInTheConsolidatedStatementsOfFinancialPositionAbstract', window );"><strong>Schedule of presentation in the consolidated statements of financial position [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DeferredTaxesAssets', window );">Deferred taxes assets</a></td>
<td class="nump">$ 3,618<span></span>
</td>
<td class="nump">$ 7,993<span></span>
</td>
<td class="nump">$ 6,235<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate', window );">Deferred tax liabilities</a></td>
<td class="num">(10,686)<span></span>
</td>
<td class="num">(17,945)<span></span>
</td>
<td class="num">(17,484)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_Total', window );">Total</a></td>
<td class="num">$ (7,068)<span></span>
</td>
<td class="num">$ (9,952)<span></span>
</td>
<td class="num">$ (11,249)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for deferred tax liabilities assumed in a business combination. [Refer: Deferred tax liabilities; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DeferredTaxesAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Deferred taxes assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DeferredTaxesAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ScheduleOfPresentationInTheConsolidatedStatementsOfFinancialPositionAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ScheduleOfPresentationInTheConsolidatedStatementsOfFinancialPositionAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_Total">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_Total</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>121
<FILENAME>R107.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211607422576">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Tax (Details) - Schedule of composition of deferred taxes - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 01, 2021</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ScheduleOfCompositionOfDeferredTaxesAbstract', window );"><strong>Schedule of composition of deferred taxes [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_NetOperatingLossesCarriedForward', window );">Net operating losses carried forward</a></td>
<td class="nump">$ 168<span></span>
</td>
<td class="nump">$ 349<span></span>
</td>
<td class="nump">$ 312<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IntangiblesFixedAssetLeaseLiabilitiesAndRightOfUseAssets', window );">Intangibles, fixed asset, lease liabilities and right of use assets</a></td>
<td class="num">(12,395)<span></span>
</td>
<td class="num">(11,929)<span></span>
</td>
<td class="num">(12,177)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ReservesAndAllowances', window );">Reserves and allowances</a></td>
<td class="nump">982<span></span>
</td>
<td class="nump">4,512<span></span>
</td>
<td class="nump">1,913<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CompositionofDeferredTaxesTotal', window );">Total</a></td>
<td class="num">$ (11,249)<span></span>
</td>
<td class="num">$ (7,068)<span></span>
</td>
<td class="num">$ (9,952)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CompositionofDeferredTaxesTotal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CompositionofDeferredTaxesTotal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_IntangiblesFixedAssetLeaseLiabilitiesAndRightOfUseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Intangibles, fixed asset, lease liabilities and right of use assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_IntangiblesFixedAssetLeaseLiabilitiesAndRightOfUseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_NetOperatingLossesCarriedForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Net operating losses carried forward.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_NetOperatingLossesCarriedForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ReservesAndAllowances">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Reserves and allowances.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ReservesAndAllowances</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ScheduleOfCompositionOfDeferredTaxesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ScheduleOfCompositionOfDeferredTaxesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>122
<FILENAME>R108.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211615813184">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Tax (Details) - Schedule of income tax - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ScheduleOfIncomeTaxAbstract', window );"><strong>Schedule of income tax [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CurrentFederalTaxExpenseBenefi', window );">Domestic</a></td>
<td class="nump">$ 11,368<span></span>
</td>
<td class="nump">$ 7,847<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ForeignTaxExpenseBenefit', window );">Foreign</a></td>
<td class="nump">6,304<span></span>
</td>
<td class="nump">6,123<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IncomeTaxExpensesBenefit', window );">Total</a></td>
<td class="nump">17,672<span></span>
</td>
<td class="nump">13,970<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed', window );">Domestic</a></td>
<td class="num">(1,318)<span></span>
</td>
<td class="num">(1,149)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DeferredForeignIncomeTaxExpenseBenefi', window );">Foreign</a></td>
<td class="num">(5,216)<span></span>
</td>
<td class="num">(2,543)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DeferredIncomeTaxExpensesBenefit', window );">Total</a></td>
<td class="num">(6,534)<span></span>
</td>
<td class="num">(3,692)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TaxesOnIncome', window );">Taxes on income</a></td>
<td class="nump">$ 11,138<span></span>
</td>
<td class="nump">$ 10,278<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of instruments purchased for resale in reverse repurchase agreements and cash collateral on securities borrowed. [Refer: Repurchase agreements and cash collateral on securities lent]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CurrentFederalTaxExpenseBenefi">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of domestic.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CurrentFederalTaxExpenseBenefi</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DeferredForeignIncomeTaxExpenseBenefi">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Foreign.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DeferredForeignIncomeTaxExpenseBenefi</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DeferredIncomeTaxExpensesBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total amount.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DeferredIncomeTaxExpensesBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ForeignTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of foreign.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ForeignTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_IncomeTaxExpensesBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_IncomeTaxExpensesBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ScheduleOfIncomeTaxAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ScheduleOfIncomeTaxAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_TaxesOnIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of taxes on income.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_TaxesOnIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>123
<FILENAME>R109.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211651030656">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Tax (Details) - Schedule of theoretical tax expense - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ScheduleOfTheoreticalTaxExpenseAbstract', window );"><strong>Schedule of theoretical tax expense [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IncomeBeforeIncomeTaxesAsPerTheStatementOfOperations', window );">Income before income taxes, as per the statement of operations</a></td>
<td class="nump">$ 57,417<span></span>
</td>
<td class="nump">$ 45,617<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_StatutoryTaxRatePercentage', window );">Statutory tax rate in Israel</a></td>
<td class="nump">23.00%<span></span>
</td>
<td class="nump">23.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TaxComputedAtTheStatutoryTaxRate', window );">Tax computed at the statutory tax rate</a></td>
<td class="nump">$ 13,205<span></span>
</td>
<td class="nump">$ 10,494<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDeferredTaxExpense', window );">Tax adjustment in respect of different tax rates</a></td>
<td class="num">(1,756)<span></span>
</td>
<td class="nump">283<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DeferredTaxesOnLossesForWhichDeferredTaxesWereNotCreated', window );">Deferred taxes on losses for which deferred taxes were not created</a></td>
<td class="num">(511)<span></span>
</td>
<td class="num">(80)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome', window );">Tax-deductible costs, not included in the accounting costs</a></td>
<td class="num">(2,680)<span></span>
</td>
<td class="num">(1,041)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_NondeductibleExpensesAndTaxExpensesInRespectOfPriorYearsNet', window );">Non-deductible expenses and tax expenses in respect of prior years, net</a></td>
<td class="nump">2,670<span></span>
</td>
<td class="nump">1,001<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_UncertainTaxPositionsAndOther', window );">Uncertain tax positions and other</a></td>
<td class="nump">210<span></span>
</td>
<td class="num">(379)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods', window );">Taxes on income</a></td>
<td class="nump">$ 11,138<span></span>
</td>
<td class="nump">$ 10,278<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDeferredTaxExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Adjustments for deferred tax expense to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Deferred tax expense (income); Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 20<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDeferredTaxExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current tax expense (income) and adjustments for the current tax of prior periods. [Refer: Current tax expense (income); Adjustments for current tax of prior periods]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 80<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_80&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that the entity does not separately disclose in the same statement or note. [Refer: Accounting profit; Applicable tax rate]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DeferredTaxesOnLossesForWhichDeferredTaxesWereNotCreated">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Deferred taxes on losses for which deferred taxes were not created.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DeferredTaxesOnLossesForWhichDeferredTaxesWereNotCreated</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_IncomeBeforeIncomeTaxesAsPerTheStatementOfOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Income before income taxes, as per the statement of operations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_IncomeBeforeIncomeTaxesAsPerTheStatementOfOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_NondeductibleExpensesAndTaxExpensesInRespectOfPriorYearsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Non-deductible expenses and tax expenses in respect of prior years, net.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_NondeductibleExpensesAndTaxExpensesInRespectOfPriorYearsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ScheduleOfTheoreticalTaxExpenseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ScheduleOfTheoreticalTaxExpenseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_StatutoryTaxRatePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The percentage of statutory tax rate.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_StatutoryTaxRatePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_TaxComputedAtTheStatutoryTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tax computed at the statutory tax rate.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_TaxComputedAtTheStatutoryTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_UncertainTaxPositionsAndOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Uncertain tax positions and other.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_UncertainTaxPositionsAndOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>124
<FILENAME>R110.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							} else { e.nextSibling.style.display='none'; }
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</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614492720">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenue Recognition (Details)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2022 </div>
<div>USD ($)</div>
</th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DisclosureOfRevenueTextBlockAbstract', window );"><strong>Revenue Recognition [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AggregateAmount', window );">Aggregate amount</a></td>
<td class="nump">$ 65,700,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PercentageOfPerformanceObligations', window );">Percentage of performance obligations</a></td>
<td class="nump">58.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DeferredRevenueOther', window );">Deferred revenues</a></td>
<td class="nump">$ 10,771<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AggregateAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>aggregate amount.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AggregateAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DeferredRevenueOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DeferredRevenueOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DisclosureOfRevenueTextBlockAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DisclosureOfRevenueTextBlockAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_PercentageOfPerformanceObligations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of performance obligations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_PercentageOfPerformanceObligations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>125
<FILENAME>R111.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211613706176">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Revenue Recognition (Details) - Schedule of deferred revenues from contracts with customers - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Jan. 01, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ScheduleOfDeferredRevenuesFromContractsWithCustomersAbstract', window );"><strong>Schedule Of Deferred Revenues From Contracts With Customers Abstract</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Trade receivables (net of allowance for credit losses of $3,967, $5,071 and $5,416 at January 1, 2021, December 31, 2021 and 2022, respectively)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 118,126<span></span>
</td>
<td class="nump">$ 116,975<span></span>
</td>
<td class="nump">$ 91,986<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_UnbilledReceivables', window );">Unbilled receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">26,114<span></span>
</td>
<td class="nump">19,614<span></span>
</td>
<td class="nump">14,842<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractAssets', window );">Contract assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,240<span></span>
</td>
<td class="nump">5,482<span></span>
</td>
<td class="nump">4,231<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentReceivables', window );">Long-term unbilled receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">2,548<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentTradeReceivables', window );">Long-term trade receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">735<span></span>
</td>
<td class="nump">1,318<span></span>
</td>
<td class="nump">1,410<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherNonfinancialLiabilities', window );">Deferred revenues (short-term contract liabilities)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 9,808<span></span>
</td>
<td class="nump">$ 10,771<span></span>
</td>
<td class="nump">$ 8,793<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Included in Other long-term receivables in the consolidated
statements of financial position<span style="font-size: 10pt">.</span></td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContractAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of an entity&#8217;s right to consideration in exchange for goods or services that the entity has transferred to a customer, when that right is conditioned on something other than the passage of time (for example, the entity&#8217;s future performance).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2022-03-24<br> -Paragraph 105<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=15&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_105&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2022-03-24<br> -Paragraph 116<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=15&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_116_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContractAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax liabilities or assets. [Refer: Deferred tax liabilities; Deferred tax assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentTradeReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current trade receivables. [Refer: Trade receivables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentTradeReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherNoncurrentReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current other receivables. [Refer: Other receivables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherNoncurrentReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherNonfinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-financial liabilities that the entity does not separately disclose in the same statement or note. [Refer: Other financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherNonfinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ScheduleOfDeferredRevenuesFromContractsWithCustomersAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ScheduleOfDeferredRevenuesFromContractsWithCustomersAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_UnbilledReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_UnbilledReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>126
<FILENAME>R112.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211615614432">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Revenue Recognition (Details) - Schedule of deferred revenues from contracts with customers (Parentheticals) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Jan. 01, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ScheduleOfDeferredRevenuesFromContractsWithCustomersAbstract', window );"><strong>Schedule Of Deferred Revenues From Contracts With Customers Abstract</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AllowanceAccountForCreditLosses', window );">Net of allowance for credit losses</a></td>
<td class="nump">$ 5,416<span></span>
</td>
<td class="nump">$ 5,071<span></span>
</td>
<td class="nump">$ 3,967<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AllowanceAccountForCreditLosses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of an allowance account used to record impairments to financial assets due to credit losses. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AllowanceAccountForCreditLosses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ScheduleOfDeferredRevenuesFromContractsWithCustomersAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ScheduleOfDeferredRevenuesFromContractsWithCustomersAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>127
<FILENAME>R113.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211608991216">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenue Recognition (Details) - Schedule of past due but not impaired trade receivables - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_RevenueRecognitionDetailsScheduleofpastduebutnotimpairedtradereceivablesLineItems', window );"><strong>Revenue Recognition (Details) - Schedule of past due but not impaired trade receivables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalTradeReceivablesNet', window );">Total trade receivables, net</a></td>
<td class="nump">$ 118,126<span></span>
</td>
<td class="nump">$ 116,975<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=mgic_NeitherPastDueNorImpairedMember', window );">Neither past due nor impaired [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_RevenueRecognitionDetailsScheduleofpastduebutnotimpairedtradereceivablesLineItems', window );"><strong>Revenue Recognition (Details) - Schedule of past due but not impaired trade receivables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalTradeReceivablesNet', window );">Total trade receivables, net</a></td>
<td class="nump">67,793<span></span>
</td>
<td class="nump">66,316<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneMonthMember', window );">Up to 30 days [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_RevenueRecognitionDetailsScheduleofpastduebutnotimpairedtradereceivablesLineItems', window );"><strong>Revenue Recognition (Details) - Schedule of past due but not impaired trade receivables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalTradeReceivablesNet', window );">Total trade receivables, net</a></td>
<td class="nump">24,150<span></span>
</td>
<td class="nump">27,776<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember', window );">31-60 days [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_RevenueRecognitionDetailsScheduleofpastduebutnotimpairedtradereceivablesLineItems', window );"><strong>Revenue Recognition (Details) - Schedule of past due but not impaired trade receivables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalTradeReceivablesNet', window );">Total trade receivables, net</a></td>
<td class="nump">16,869<span></span>
</td>
<td class="nump">13,658<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember', window );">61-90 days [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_RevenueRecognitionDetailsScheduleofpastduebutnotimpairedtradereceivablesLineItems', window );"><strong>Revenue Recognition (Details) - Schedule of past due but not impaired trade receivables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalTradeReceivablesNet', window );">Total trade receivables, net</a></td>
<td class="nump">12,863<span></span>
</td>
<td class="nump">11,454<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanSixMonthsAndNotLaterThanOneYearMember', window );">91-120 days [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_RevenueRecognitionDetailsScheduleofpastduebutnotimpairedtradereceivablesLineItems', window );"><strong>Revenue Recognition (Details) - Schedule of past due but not impaired trade receivables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalTradeReceivablesNet', window );">Total trade receivables, net</a></td>
<td class="nump">4,125<span></span>
</td>
<td class="nump">5,939<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearMember', window );">Over 121 days [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_RevenueRecognitionDetailsScheduleofpastduebutnotimpairedtradereceivablesLineItems', window );"><strong>Revenue Recognition (Details) - Schedule of past due but not impaired trade receivables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalTradeReceivablesNet', window );">Total trade receivables, net</a></td>
<td class="nump">13,311<span></span>
</td>
<td class="nump">10,391<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=mgic_TotalMember', window );">Total [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_RevenueRecognitionDetailsScheduleofpastduebutnotimpairedtradereceivablesLineItems', window );"><strong>Revenue Recognition (Details) - Schedule of past due but not impaired trade receivables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalTradeReceivablesNet', window );">Total trade receivables, net</a></td>
<td class="nump">139,111<span></span>
</td>
<td class="nump">135,534<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=mgic_UnpaidDeferredRevenuesMember', window );">Unpaid deferred revenues [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_RevenueRecognitionDetailsScheduleofpastduebutnotimpairedtradereceivablesLineItems', window );"><strong>Revenue Recognition (Details) - Schedule of past due but not impaired trade receivables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalTradeReceivablesNet', window );">Total trade receivables, net</a></td>
<td class="num">(15,569)<span></span>
</td>
<td class="num">(13,488)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=mgic_AllowancesForCreditLossMember', window );">Allowance for credit losses [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_RevenueRecognitionDetailsScheduleofpastduebutnotimpairedtradereceivablesLineItems', window );"><strong>Revenue Recognition (Details) - Schedule of past due but not impaired trade receivables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalTradeReceivablesNet', window );">Total trade receivables, net</a></td>
<td class="num">$ (5,416)<span></span>
</td>
<td class="num">$ (5,071)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_RevenueRecognitionDetailsScheduleofpastduebutnotimpairedtradereceivablesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_RevenueRecognitionDetailsScheduleofpastduebutnotimpairedtradereceivablesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_TotalTradeReceivablesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_TotalTradeReceivablesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=mgic_NeitherPastDueNorImpairedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=mgic_NeitherPastDueNorImpairedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneMonthMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneMonthMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanSixMonthsAndNotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanSixMonthsAndNotLaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=mgic_TotalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=mgic_TotalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=mgic_UnpaidDeferredRevenuesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=mgic_UnpaidDeferredRevenuesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=mgic_AllowancesForCreditLossMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=mgic_AllowancesForCreditLossMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>128
<FILENAME>R114.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211616133456">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenue Recognition (Details) - Schedule of revenue by timing of revenue recognition - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ScheduleOfRevenueByTimingOfRevenueRecognitionAbstract', window );"><strong>Schedule Of Revenue By Timing Of Revenue Recognition Abstract</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ProductsAndServicesTransferredOverTime', window );">Products and services transferred over time</a></td>
<td class="nump">$ 533,862<span></span>
</td>
<td class="nump">$ 449,391<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ProductsTransferredAtAPointInTime', window );">Products transferred at a point in time</a></td>
<td class="nump">32,930<span></span>
</td>
<td class="nump">30,934<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueFromContractsWithCustomers', window );">Total</a></td>
<td class="nump">$ 566,792<span></span>
</td>
<td class="nump">$ 480,325<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromContractsWithCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue from contracts with customers. A customer is a party that has contracted with an entity to obtain goods or services that are an output of the entity&#8217;s ordinary activities in exchange for consideration.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2022-03-24<br> -Paragraph 114<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=15&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_114&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2022-03-24<br> -Paragraph 113<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=15&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_113_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromContractsWithCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ProductsAndServicesTransferredOverTime">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of products and services transferred over time.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ProductsAndServicesTransferredOverTime</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ProductsTransferredAtAPointInTime">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of products transferred at a point in time.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ProductsTransferredAtAPointInTime</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ScheduleOfRevenueByTimingOfRevenueRecognitionAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ScheduleOfRevenueByTimingOfRevenueRecognitionAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>129
<FILENAME>R115.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
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<title></title>
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</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211606341904">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Selected Statements of Income Data (Details) - Schedule of research and development costs, net - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SelectedStatementsofIncomeDataDetailsScheduleofresearchanddevelopmentcostsnetLineItems', window );"><strong>Schedule of Research and Development Costs, Net [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalResearchandDevelopment', window );">Total costs</a></td>
<td class="nump">$ 13,149<span></span>
</td>
<td class="nump">$ 12,188<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CapitalizedSoftwareCosts', window );">Less - capitalized software costs</a></td>
<td class="num">(3,059)<span></span>
</td>
<td class="num">(3,193)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ResearchAndDevelopmentExpense', window );">Research and development, net</a></td>
<td class="nump">$ 10,090<span></span>
</td>
<td class="nump">$ 8,995<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ResearchAndDevelopmentExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expenditure directly attributable to research or development activities, recognised in profit or loss.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 126<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_126&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ResearchAndDevelopmentExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CapitalizedSoftwareCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Capitalized software costs.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CapitalizedSoftwareCosts</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_SelectedStatementsofIncomeDataDetailsScheduleofresearchanddevelopmentcostsnetLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_TotalResearchandDevelopment">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_TotalResearchandDevelopment</td>
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<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211608131840">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Selected Statements of Income Data (Details) - Schedule of selling and marketing expenses - Selling and marketing expenses [Member] - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SelectedStatementsofIncomeDataDetailsScheduleofsellingandmarketingexpensesLineItems', window );"><strong>Selected Statements of Income Data (Details) - Schedule of selling and marketing expenses [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WagesAndSalaries', window );">Salary and related expenses</a></td>
<td class="nump">$ 33,474<span></span>
</td>
<td class="nump">$ 26,100<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdvertisingExpense', window );">Advertising expenses</a></td>
<td class="nump">2,676<span></span>
</td>
<td class="nump">2,522<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment', window );">Cost of share-based payment</a></td>
<td class="num">(56)<span></span>
</td>
<td class="nump">956<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherExpenseByNature', window );">Others</a></td>
<td class="nump">10,763<span></span>
</td>
<td class="nump">8,569<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SalesAndMarketingExpense', window );">Total selling and marketing expenses</a></td>
<td class="nump">$ 46,857<span></span>
</td>
<td class="nump">$ 38,147<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdvertisingExpense">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from advertising.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdvertisingExpense</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel in the form of share-based payments. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expenses that the entity does not separately disclose in the same statement or note when the entity uses the 'nature of expense' form for its analysis of expenses. [Refer: Expenses, by nature]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 99<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherExpenseByNature</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense relating to the marketing and selling of goods or services.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A class of employee benefits expense that represents wages and salaries. [Refer: Employee benefits expense]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 9<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_9&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<FILENAME>R117.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211607422416">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Selected Statements of Income Data (Details) - Schedule of general and administrative expenses - General and administrative expenses [Member] - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SelectedStatementsofIncomeDataDetailsScheduleofgeneralandadministrativeexpensesLineItems', window );"><strong>Selected Statements of Income Data (Details) - Schedule of general and administrative expenses [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WagesAndSalaries', window );">Salary and related expenses</a></td>
<td class="nump">$ 21,492<span></span>
</td>
<td class="nump">$ 24,072<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_Subcontractors', window );">Subcontractors</a></td>
<td class="nump">5,335<span></span>
</td>
<td class="nump">3,842<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment', window );">Cost of share-based payment</a></td>
<td class="nump">2,135<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherExpenseByNature', window );">Others</a></td>
<td class="nump">8,590<span></span>
</td>
<td class="nump">3,308<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeneralAndAdministrativeExpense', window );">Total general and administrative expenses</a></td>
<td class="nump">$ 37,552<span></span>
</td>
<td class="nump">$ 31,222<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense relating to general and administrative activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel in the form of share-based payments. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherExpenseByNature">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expenses that the entity does not separately disclose in the same statement or note when the entity uses the 'nature of expense' form for its analysis of expenses. [Refer: Expenses, by nature]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 99<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherExpenseByNature</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WagesAndSalaries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A class of employee benefits expense that represents wages and salaries. [Refer: Employee benefits expense]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 9<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_9&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WagesAndSalaries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_SelectedStatementsofIncomeDataDetailsScheduleofgeneralandadministrativeexpensesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_SelectedStatementsofIncomeDataDetailsScheduleofgeneralandadministrativeexpensesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_Subcontractors">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of subcontractors.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_Subcontractors</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AttributionOfExpensesByNatureToTheirFunctionAxis=ifrs-full_SellingGeneralAndAdministrativeExpenseMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AttributionOfExpensesByNatureToTheirFunctionAxis=ifrs-full_SellingGeneralAndAdministrativeExpenseMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>132
<FILENAME>R118.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							} else { e.nextSibling.style.display='none'; }
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</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211608482832">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Selected Statements of Income Data (Details) - Schedule of financial income and expenses - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_FinancialExpensesAbstract', window );"><strong>Financial expenses:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_FinancialExpensesRelatedToLiabilitiesInRespectOfBusinessCombinations', window );">Financial expenses related to liabilities in respect of business combinations</a></td>
<td class="nump">$ 744<span></span>
</td>
<td class="nump">$ 2,817<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestExpenseOnBorrowings', window );">Interest expenses on loans and borrowings</a></td>
<td class="nump">1,743<span></span>
</td>
<td class="nump">615<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestExpenseOnLeaseLiabilities', window );">Interest expenses attributed to leases</a></td>
<td class="nump">691<span></span>
</td>
<td class="nump">719<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BankAndSimilarCharges', window );">Bank charges, negative foreign exchange differences and other financial expenses</a></td>
<td class="nump">2,559<span></span>
</td>
<td class="nump">2,468<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceCosts', window );">Total financial expenses</a></td>
<td class="nump">5,737<span></span>
</td>
<td class="nump">6,619<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_FinancialIncomeAbstract', window );"><strong>Financial income:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ForeignExchangeLoss', window );">Interest income from deposits, positive foreign exchange differences and other financial income</a></td>
<td class="nump">1,392<span></span>
</td>
<td class="nump">113<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceIncome', window );">Total Financial income</a></td>
<td class="nump">1,392<span></span>
</td>
<td class="nump">113<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherFinanceIncomeCost', window );">Financial expenses, net</a></td>
<td class="nump">$ 4,345<span></span>
</td>
<td class="nump">$ 6,506<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BankAndSimilarCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of bank and similar charges recognised by the entity as an expense.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BankAndSimilarCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of costs associated with financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income associated with interest and other financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ForeignExchangeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gross loss arising from exchange differences recognised in profit or loss, excluding those arising on financial instruments measured at fair value through profit or loss in accordance with IFRS 9. [Refer: Foreign exchange gain (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 21<br> -IssueDate 2022-03-24<br> -Paragraph 52<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=21&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_52_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 35<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ForeignExchangeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpenseOnBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of interest expense on borrowings. [Refer: Interest expense; Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpenseOnBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpenseOnLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of interest expense on lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 53<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_53_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpenseOnLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherFinanceIncomeCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of finance income or cost that the entity does not separately disclose in the same statement or note. [Refer: Finance income (cost)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherFinanceIncomeCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_FinancialExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_FinancialExpensesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_FinancialExpensesRelatedToLiabilitiesInRespectOfBusinessCombinations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financial expenses related to liabilities in respect of business combinations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_FinancialExpensesRelatedToLiabilitiesInRespectOfBusinessCombinations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_FinancialIncomeAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_FinancialIncomeAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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</div>
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<head>
<title></title>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211616271936">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Selected Statements of Income Data (Details) - Schedule of computation of basic and diluted net earnings per share - USD ($)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_ScheduleOfComputationOfBasicAndDilutedNetEarningsPerShareAbstract', window );"><strong>Schedule Of Computation Of Basic And Diluted Net Earnings Per Share Abstract</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_NetIncomeAttributableToMagicShareholdersinDollarsPerShare', window );">Net income attributable to Magic shareholders (in Dollars)</a></td>
<td class="nump">$ 40,470<span></span>
</td>
<td class="nump">$ 29,767<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageShares', window );">Basic earnings per share - weighted average shares outstanding</a></td>
<td class="nump">49,089,044<span></span>
</td>
<td class="nump">49,055,082<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_EffectOfDilutiveSecurities', window );">Effect of dilutive securities</a></td>
<td class="nump">42,267<span></span>
</td>
<td class="nump">44,972<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdjustedWeightedAverageShares', window );">Diluted earnings per share &#8211; adjusted weighted average shares outstanding</a></td>
<td class="nump">49,131,311<span></span>
</td>
<td class="nump">49,100,054<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BasicEarningsLossPerShare', window );">Basic and diluted net earnings per share (in Dollars per share)</a></td>
<td class="nump">$ 0.82<span></span>
</td>
<td class="nump">$ 0.61<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustedWeightedAverageShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average number of ordinary shares outstanding plus the weighted average number of ordinary shares that would be issued on the conversion of all the dilutive potential ordinary shares into ordinary shares. [Refer: Ordinary shares [member]; Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2022-03-24<br> -Paragraph 70<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_70_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustedWeightedAverageShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BasicEarningsLossPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator) divided by the weighted average number of ordinary shares outstanding during the period (the denominator).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2022-03-24<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2022-03-24<br> -Paragraph 67<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_67&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BasicEarningsLossPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of ordinary shares outstanding at the beginning of the period, adjusted by the number of ordinary shares bought back or issued during the period multiplied by a time-weighting factor.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2022-03-24<br> -Paragraph 70<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_70_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_EffectOfDilutiveSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of shares effect of dilutive securities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_EffectOfDilutiveSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_NetIncomeAttributableToMagicShareholdersinDollarsPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Net income attributable to magic shareholders.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_NetIncomeAttributableToMagicShareholdersinDollarsPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_ScheduleOfComputationOfBasicAndDilutedNetEarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_ScheduleOfComputationOfBasicAndDilutedNetEarningsPerShareAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>134
<FILENAME>R120.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211650984736">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Operating segments (Details)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=mgic_ITProfessionalServicesMember', window );">IT professional services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OperatingsegmentsDetailsLineItems', window );"><strong>Operating segments (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CompanyRevenues', window );">Company revenues accounted</a></td>
<td class="nump">15.00%<span></span>
</td>
<td class="nump">14.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CompanyRevenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CompanyRevenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_OperatingsegmentsDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_OperatingsegmentsDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=mgic_ITProfessionalServicesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=mgic_ITProfessionalServicesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>135
<FILENAME>R121.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
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</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211606105104">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Operating segments (Details) - Schedule of reported segment results of operation - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OperatingsegmentsDetailsScheduleofreportedsegmentresultsofoperationLineItems', window );"><strong>Operating segments (Details) - Schedule of reported segment results of operation [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherRevenue', window );">Total revenues</a></td>
<td class="nump">$ 566,792<span></span>
</td>
<td class="nump">$ 480,325<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AmortisationExpense', window );">Expenses</a></td>
<td class="nump">505,030<span></span>
</td>
<td class="nump">428,202<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Operating income (loss)</a></td>
<td class="nump">61,762<span></span>
</td>
<td class="nump">52,123<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="nump">19,795<span></span>
</td>
<td class="nump">19,837<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=mgic_SoftwareServicesMember', window );">Software services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OperatingsegmentsDetailsScheduleofreportedsegmentresultsofoperationLineItems', window );"><strong>Operating segments (Details) - Schedule of reported segment results of operation [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherRevenue', window );">Total revenues</a></td>
<td class="nump">99,374<span></span>
</td>
<td class="nump">95,589<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AmortisationExpense', window );">Expenses</a></td>
<td class="nump">72,115<span></span>
</td>
<td class="nump">74,863<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Operating income (loss)</a></td>
<td class="nump">27,259<span></span>
</td>
<td class="nump">20,726<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="nump">10,321<span></span>
</td>
<td class="nump">10,619<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=mgic_ITProfessionalServicesMember', window );">IT professional services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OperatingsegmentsDetailsScheduleofreportedsegmentresultsofoperationLineItems', window );"><strong>Operating segments (Details) - Schedule of reported segment results of operation [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherRevenue', window );">Total revenues</a></td>
<td class="nump">467,418<span></span>
</td>
<td class="nump">384,736<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AmortisationExpense', window );">Expenses</a></td>
<td class="nump">427,446<span></span>
</td>
<td class="nump">347,712<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Operating income (loss)</a></td>
<td class="nump">39,972<span></span>
</td>
<td class="nump">37,024<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="nump">9,102<span></span>
</td>
<td class="nump">8,846<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=mgic_UnallocatedExpenseMember', window );">Unallocated expense [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OperatingsegmentsDetailsScheduleofreportedsegmentresultsofoperationLineItems', window );"><strong>Operating segments (Details) - Schedule of reported segment results of operation [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherRevenue', window );">Total revenues</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AmortisationExpense', window );">Expenses</a></td>
<td class="nump">5,469<span></span>
</td>
<td class="nump">5,627<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Operating income (loss)</a></td>
<td class="num">(5,469)<span></span>
</td>
<td class="num">(5,627)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="nump">$ 372<span></span>
</td>
<td class="nump">$ 372<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AmortisationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of amortisation expense. Amortisation is the systematic allocation of depreciable amounts of intangible assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AmortisationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationAndAmortisationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation and amortisation expense. Depreciation and amortisation are the systematic allocations of depreciable amounts of assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B13<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B13_d&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 99<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 104<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_104&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationAndAmortisationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherOperatingIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of operating income (expense) that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherOperatingIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue arising from sources that the entity does not separately disclose in the same statement or note. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_OperatingsegmentsDetailsScheduleofreportedsegmentresultsofoperationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_OperatingsegmentsDetailsScheduleofreportedsegmentresultsofoperationLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=mgic_SoftwareServicesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=mgic_SoftwareServicesMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=mgic_ITProfessionalServicesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=mgic_ITProfessionalServicesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=mgic_UnallocatedExpenseMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=mgic_UnallocatedExpenseMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211607314640">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Operating segments (Details) - Schedule of long-lived assets classified according to geographical destination - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsclassifiedaccordingtogeographicaldestinationLineItems', window );"><strong>Operating segments (Details) - Schedule of long-lived assets classified according to geographical destination [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalRevenues', window );">Total revenues</a></td>
<td class="nump">$ 566,792<span></span>
</td>
<td class="nump">$ 480,325<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=country_US', window );">United States [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsclassifiedaccordingtogeographicaldestinationLineItems', window );"><strong>Operating segments (Details) - Schedule of long-lived assets classified according to geographical destination [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalRevenues', window );">Total revenues</a></td>
<td class="nump">308,485<span></span>
</td>
<td class="nump">254,342<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=country_IL', window );">Israel [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsclassifiedaccordingtogeographicaldestinationLineItems', window );"><strong>Operating segments (Details) - Schedule of long-lived assets classified according to geographical destination [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalRevenues', window );">Total revenues</a></td>
<td class="nump">205,258<span></span>
</td>
<td class="nump">180,462<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=srt_EuropeMember', window );">Europe [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsclassifiedaccordingtogeographicaldestinationLineItems', window );"><strong>Operating segments (Details) - Schedule of long-lived assets classified according to geographical destination [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalRevenues', window );">Total revenues</a></td>
<td class="nump">39,247<span></span>
</td>
<td class="nump">30,085<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=country_JP', window );">Japan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsclassifiedaccordingtogeographicaldestinationLineItems', window );"><strong>Operating segments (Details) - Schedule of long-lived assets classified according to geographical destination [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalRevenues', window );">Total revenues</a></td>
<td class="nump">10,121<span></span>
</td>
<td class="nump">11,443<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=mgic_OtherMember', window );">Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsclassifiedaccordingtogeographicaldestinationLineItems', window );"><strong>Operating segments (Details) - Schedule of long-lived assets classified according to geographical destination [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TotalRevenues', window );">Total revenues</a></td>
<td class="nump">$ 3,681<span></span>
</td>
<td class="nump">$ 3,993<span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsclassifiedaccordingtogeographicaldestinationLineItems</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_TotalRevenues">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_TotalRevenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=country_US</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=country_IL</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=srt_EuropeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=srt_EuropeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=country_JP">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=country_JP</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=mgic_OtherMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=mgic_OtherMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>137
<FILENAME>R123.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211607665312">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Operating segments (Details) - Schedule of long-lived assets - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Jan. 01, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsLineItems', window );"><strong>Operating segments (Details) - Schedule of long-lived assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LonglivedAssets', window );">Total long-lived assets</a></td>
<td class="nump">$ 246,630<span></span>
</td>
<td class="nump">$ 227,345<span></span>
</td>
<td class="nump">$ 218,437<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=country_US', window );">UNITED STATES</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsLineItems', window );"><strong>Operating segments (Details) - Schedule of long-lived assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LonglivedAssets', window );">Total long-lived assets</a></td>
<td class="nump">82,325<span></span>
</td>
<td class="nump">76,369<span></span>
</td>
<td class="nump">74,577<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=country_IL', window );">ISRAEL</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsLineItems', window );"><strong>Operating segments (Details) - Schedule of long-lived assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LonglivedAssets', window );">Total long-lived assets</a></td>
<td class="nump">148,819<span></span>
</td>
<td class="nump">138,071<span></span>
</td>
<td class="nump">129,248<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=srt_EuropeMember', window );">Europe [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsLineItems', window );"><strong>Operating segments (Details) - Schedule of long-lived assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LonglivedAssets', window );">Total long-lived assets</a></td>
<td class="nump">7,885<span></span>
</td>
<td class="nump">4,423<span></span>
</td>
<td class="nump">5,115<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=country_JP', window );">JAPAN</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsLineItems', window );"><strong>Operating segments (Details) - Schedule of long-lived assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LonglivedAssets', window );">Total long-lived assets</a></td>
<td class="nump">4,696<span></span>
</td>
<td class="nump">5,543<span></span>
</td>
<td class="nump">6,428<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=mgic_OtherMember', window );">Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsLineItems', window );"><strong>Operating segments (Details) - Schedule of long-lived assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LonglivedAssets', window );">Total long-lived assets</a></td>
<td class="nump">$ 2,905<span></span>
</td>
<td class="nump">$ 2,939<span></span>
</td>
<td class="nump">$ 3,069<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LonglivedAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Long-lived assets other than financial instruments, long-term customer relationships of a financial institution, mortgage and other servicing rights, deferred policy acquisition costs, and deferred tax assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LonglivedAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_OperatingsegmentsDetailsScheduleoflonglivedassetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=country_US">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=country_US</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=country_IL">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=country_IL</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=srt_EuropeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=srt_EuropeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=country_JP">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=country_JP</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=mgic_OtherMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=mgic_OtherMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>138
<FILENAME>R124.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211613517936">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Transition to IFRS (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Jan. 01, 2021</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TransitiontoIFRSDetailsLineItems', window );"><strong>Transition to IFRS (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net liability</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,673<span></span>
</td>
<td class="nump">$ 3,646<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherShorttermEmployeeBenefits', window );">Short -term</a></td>
<td class="nump">$ 15,454<span></span>
</td>
<td class="nump">14,611<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherLongtermBenefits', window );">Long-term</a></td>
<td class="nump">13,880<span></span>
</td>
<td class="nump">9,315<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=mgic_RedeemableNoncontrollingInterestsMember', window );">Redeemable non-controlling interests [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TransitiontoIFRSDetailsLineItems', window );"><strong>Transition to IFRS (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherShorttermEmployeeBenefits', window );">Short -term</a></td>
<td class="nump">23,197<span></span>
</td>
<td class="nump">14,611<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherLongtermBenefits', window );">Long-term</a></td>
<td class="nump">$ 6,137<span></span>
</td>
<td class="nump">$ 9,315<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of deficit or surplus in a defined benefit plan, adjusted for any effect of limiting a net defined benefit asset to the asset ceiling. [Refer: Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 140<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_140_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilityAssetOfDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherLongtermBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of long-term employee benefits other than post-employment benefits and termination benefits. Such benefits may include long-term paid absences, jubilee or other long-service benefits, long-term disability benefits, long-term profit-sharing and bonuses and long-term deferred remuneration. [Refer: Employee benefits expense]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 158<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_158&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherLongtermBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherShorttermEmployeeBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense from employee benefits (other than termination benefits), which are expected to be settled wholly within twelve months after the end of the annual reporting period in which the employees render the related services, that the entity does not separately disclose in the same statement or note. [Refer: Employee benefits expense]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 9<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_9&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherShorttermEmployeeBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_TransitiontoIFRSDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_TransitiontoIFRSDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=mgic_RedeemableNoncontrollingInterestsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=mgic_RedeemableNoncontrollingInterestsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211604078608">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Transition to IFRS (Details) - Schedule of reconciliation of statements of financial position - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Jan. 01, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAssetsAbstract', window );"><strong>CURRENT ASSETS:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 83,062<span></span>
</td>
<td class="nump">$ 88,090<span></span>
</td>
<td class="nump">$ 88,127<span></span>
</td>
<td class="nump">$ 88,127<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents', window );">Short-term deposits</a></td>
<td class="nump">3,904<span></span>
</td>
<td class="nump">5,586<span></span>
</td>
<td class="nump">289<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentReceivables', window );">Trade receivables, net</a></td>
<td class="nump">118,126<span></span>
</td>
<td class="nump">116,975<span></span>
</td>
<td class="nump">91,986<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCurrentNonfinancialAssets', window );">Unbilled receivables and contract assets</a></td>
<td class="nump">30,354<span></span>
</td>
<td class="nump">25,096<span></span>
</td>
<td class="nump">19,073<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets', window );">Other accounts receivable and prepaid expenses</a></td>
<td class="nump">13,652<span></span>
</td>
<td class="nump">11,027<span></span>
</td>
<td class="nump">11,751<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAssets', window );">Total current assets</a></td>
<td class="nump">249,098<span></span>
</td>
<td class="nump">246,774<span></span>
</td>
<td class="nump">211,226<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LongTermAssetsAbstract', window );"><strong>LONG-TERM ASSETS:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SeverancePayFund', window );">Severance pay fund</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DeferredTaxAssetsNonCurrent', window );">Deferred taxes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,993<span></span>
</td>
<td class="nump">6,235<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use assets</a></td>
<td class="nump">27,536<span></span>
</td>
<td class="nump">23,280<span></span>
</td>
<td class="nump">23,363<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Other accounts receivable</a></td>
<td class="nump">5,795<span></span>
</td>
<td class="nump">5,165<span></span>
</td>
<td class="nump">5,507<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plants and equipment, net</a></td>
<td class="nump">8,338<span></span>
</td>
<td class="nump">5,872<span></span>
</td>
<td class="nump">5,988<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Intangible assets, net</a></td>
<td class="nump">52,057<span></span>
</td>
<td class="nump">51,390<span></span>
</td>
<td class="nump">53,404<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="nump">158,699<span></span>
</td>
<td class="nump">146,803<span></span>
</td>
<td class="nump">135,682<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssets', window );">Total long-term assets</a></td>
<td class="nump">256,043<span></span>
</td>
<td class="nump">240,503<span></span>
</td>
<td class="nump">230,179<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="nump">505,141<span></span>
</td>
<td class="nump">487,277<span></span>
</td>
<td class="nump">441,405<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLiabilitiesAbstract', window );"><strong>CURRENT LIABILITIES:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShorttermBorrowings', window );">Short term debt</a></td>
<td class="nump">20,755<span></span>
</td>
<td class="nump">17,108<span></span>
</td>
<td class="nump">11,598<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesToTradeSuppliers', window );">Trade payables</a></td>
<td class="nump">27,598<span></span>
</td>
<td class="nump">24,711<span></span>
</td>
<td class="nump">14,250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities', window );">Accrued expenses and other accounts payable</a></td>
<td class="nump">46,842<span></span>
</td>
<td class="nump">45,091<span></span>
</td>
<td class="nump">41,777<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current maturities of operating lease liabilities</a></td>
<td class="nump">4,591<span></span>
</td>
<td class="nump">3,267<span></span>
</td>
<td class="nump">3,792<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LiabilityInRespectOfBusinessCombinationsCurrent', window );">Liabilities in respect of business combinations</a></td>
<td class="nump">19,287<span></span>
</td>
<td class="nump">6,635<span></span>
</td>
<td class="nump">4,998<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PutOptionsOfNoncontrollingInterestsCurrent', window );">Redeemable non-controlling interests</a></td>
<td class="nump">27,172<span></span>
</td>
<td class="nump">23,197<span></span>
</td>
<td class="nump">14,611<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Deferred revenue and customer advances</a></td>
<td class="nump">9,808<span></span>
</td>
<td class="nump">10,771<span></span>
</td>
<td class="nump">8,793<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLiabilities', window );">Total current liabilities</a></td>
<td class="nump">156,053<span></span>
</td>
<td class="nump">130,780<span></span>
</td>
<td class="nump">99,819<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LongTermLiabilitiesAbstract', window );"><strong>LONG-TERM LIABILITIES:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Long-term debt</a></td>
<td class="nump">30,412<span></span>
</td>
<td class="nump">20,155<span></span>
</td>
<td class="nump">13,352<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Long-term operating lease liabilities</a></td>
<td class="nump">24,282<span></span>
</td>
<td class="nump">21,907<span></span>
</td>
<td class="nump">21,230<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent', window );">Liability in respect of business combinations</a></td>
<td class="nump">5,376<span></span>
</td>
<td class="nump">13,892<span></span>
</td>
<td class="nump">10,926<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DeferredTaxLiabilitiesNonCurrent', window );">Deferred taxes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17,945<span></span>
</td>
<td class="nump">17,484<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PutOptionsOfNoncontrollingInterestsNoncurrent', window );">Redeemable non-controlling interests</a></td>
<td class="nump">1,120<span></span>
</td>
<td class="nump">6,137<span></span>
</td>
<td class="nump">9,315<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentLiabilities', window );">Accrued severance pay, net</a></td>
<td class="nump">901<span></span>
</td>
<td class="nump">905<span></span>
</td>
<td class="nump">872<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLiabilities', window );">Total long-term liabilities</a></td>
<td class="nump">72,777<span></span>
</td>
<td class="nump">80,941<span></span>
</td>
<td class="nump">73,179<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_RedeemableNonControllingInterest', window );">REDEEMABLE NON-CONTROLLING INTEREST</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EquityAbstract', window );"><strong>EQUITY</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IssuedCapital', window );">Share capital</a></td>
<td class="nump">1,166<span></span>
</td>
<td class="nump">1,165<span></span>
</td>
<td class="nump">1,164<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionalPaidinCapital', window );">Additional paid-in capital</a></td>
<td class="nump">182,031<span></span>
</td>
<td class="nump">184,047<span></span>
</td>
<td class="nump">188,415<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AccumulatedOtherComprehensiveIncome', window );">Accumulated other comprehensive loss</a></td>
<td class="num">(6,559)<span></span>
</td>
<td class="nump">9,264<span></span>
</td>
<td class="nump">7,437<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RetainedEarnings', window );">Accumulated earnings</a></td>
<td class="nump">86,289<span></span>
</td>
<td class="nump">70,660<span></span>
</td>
<td class="nump">62,673<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EquityAttributableToOwnersOfParent', window );">Total equity attributable to company shareholders&#8217;</a></td>
<td class="nump">262,927<span></span>
</td>
<td class="nump">265,136<span></span>
</td>
<td class="nump">259,689<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="nump">13,384<span></span>
</td>
<td class="nump">10,420<span></span>
</td>
<td class="nump">8,718<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Total equity</a></td>
<td class="nump">276,311<span></span>
</td>
<td class="nump">275,556<span></span>
</td>
<td class="nump">268,407<span></span>
</td>
<td class="nump">$ 268,407<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total liabilities, redeemable non-controlling interest and equity</a></td>
<td class="nump">$ 505,141<span></span>
</td>
<td class="nump">487,277<span></span>
</td>
<td class="nump">441,405<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccountingStandardsAxis=mgic_USGAAPMember', window );">U.S. GAAP [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAssetsAbstract', window );"><strong>CURRENT ASSETS:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">88,090<span></span>
</td>
<td class="nump">88,127<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents', window );">Short-term deposits</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,586<span></span>
</td>
<td class="nump">289<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentReceivables', window );">Trade receivables, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">116,975<span></span>
</td>
<td class="nump">91,986<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCurrentNonfinancialAssets', window );">Unbilled receivables and contract assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25,096<span></span>
</td>
<td class="nump">19,073<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets', window );">Other accounts receivable and prepaid expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,032<span></span>
</td>
<td class="nump">11,751<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAssets', window );">Total current assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">246,779<span></span>
</td>
<td class="nump">211,226<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LongTermAssetsAbstract', window );"><strong>LONG-TERM ASSETS:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SeverancePayFund', window );">Severance pay fund</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,646<span></span>
</td>
<td class="nump">4,673<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DeferredTaxAssetsNonCurrent', window );">Deferred taxes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,091<span></span>
</td>
<td class="nump">6,397<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">24,299<span></span>
</td>
<td class="nump">24,509<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Other accounts receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,165<span></span>
</td>
<td class="nump">5,507<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plants and equipment, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,872<span></span>
</td>
<td class="nump">5,988<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Intangible assets, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">51,390<span></span>
</td>
<td class="nump">53,404<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">146,803<span></span>
</td>
<td class="nump">135,682<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssets', window );">Total long-term assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">245,266<span></span>
</td>
<td class="nump">236,160<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">492,045<span></span>
</td>
<td class="nump">447,386<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLiabilitiesAbstract', window );"><strong>CURRENT LIABILITIES:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShorttermBorrowings', window );">Short term debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17,032<span></span>
</td>
<td class="nump">11,529<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesToTradeSuppliers', window );">Trade payables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">24,711<span></span>
</td>
<td class="nump">14,250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities', window );">Accrued expenses and other accounts payable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">45,173<span></span>
</td>
<td class="nump">41,846<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current maturities of operating lease liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,943<span></span>
</td>
<td class="nump">3,413<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LiabilityInRespectOfBusinessCombinationsCurrent', window );">Liabilities in respect of business combinations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,635<span></span>
</td>
<td class="nump">4,998<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PutOptionsOfNoncontrollingInterestsCurrent', window );">Redeemable non-controlling interests</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Deferred revenue and customer advances</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,771<span></span>
</td>
<td class="nump">8,793<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLiabilities', window );">Total current liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">108,265<span></span>
</td>
<td class="nump">84,829<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LongTermLiabilitiesAbstract', window );"><strong>LONG-TERM LIABILITIES:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Long-term debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20,155<span></span>
</td>
<td class="nump">13,352<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Long-term operating lease liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20,970<span></span>
</td>
<td class="nump">21,109<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent', window );">Liability in respect of business combinations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13,892<span></span>
</td>
<td class="nump">10,926<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DeferredTaxLiabilitiesNonCurrent', window );">Deferred taxes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">18,112<span></span>
</td>
<td class="nump">17,639<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PutOptionsOfNoncontrollingInterestsNoncurrent', window );">Redeemable non-controlling interests</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentLiabilities', window );">Accrued severance pay, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,551<span></span>
</td>
<td class="nump">5,545<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLiabilities', window );">Total long-term liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">77,680<span></span>
</td>
<td class="nump">68,571<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_RedeemableNonControllingInterest', window );">REDEEMABLE NON-CONTROLLING INTEREST</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30,432<span></span>
</td>
<td class="nump">24,980<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EquityAbstract', window );"><strong>EQUITY</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IssuedCapital', window );">Share capital</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,165<span></span>
</td>
<td class="nump">1,164<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionalPaidinCapital', window );">Additional paid-in capital</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">211,543<span></span>
</td>
<td class="nump">211,713<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AccumulatedOtherComprehensiveIncome', window );">Accumulated other comprehensive loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,294<span></span>
</td>
<td class="nump">7,835<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RetainedEarnings', window );">Accumulated earnings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">43,246<span></span>
</td>
<td class="nump">39,720<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EquityAttributableToOwnersOfParent', window );">Total equity attributable to company shareholders&#8217;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">265,248<span></span>
</td>
<td class="nump">260,432<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,420<span></span>
</td>
<td class="nump">8,574<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Total equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">275,668<span></span>
</td>
<td class="nump">269,006<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total liabilities, redeemable non-controlling interest and equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">492,045<span></span>
</td>
<td class="nump">447,386<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccountingStandardsAxis=mgic_OtherGAAPAdjustmentsAndReclassificationsMember', window );">Other GAAP Adjustments and reclassifications [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAssetsAbstract', window );"><strong>CURRENT ASSETS:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents', window );">Short-term deposits</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentReceivables', window );">Trade receivables, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCurrentNonfinancialAssets', window );">Unbilled receivables and contract assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets', window );">Other accounts receivable and prepaid expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(5)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAssets', window );">Total current assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(5)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LongTermAssetsAbstract', window );"><strong>LONG-TERM ASSETS:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SeverancePayFund', window );">Severance pay fund</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,646)<span></span>
</td>
<td class="num">(4,673)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DeferredTaxAssetsNonCurrent', window );">Deferred taxes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(98)<span></span>
</td>
<td class="num">(162)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,019)<span></span>
</td>
<td class="num">(1,146)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Other accounts receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plants and equipment, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Intangible assets, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssets', window );">Total long-term assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(4,763)<span></span>
</td>
<td class="num">(5,981)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(4,768)<span></span>
</td>
<td class="num">(5,981)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLiabilitiesAbstract', window );"><strong>CURRENT LIABILITIES:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShorttermBorrowings', window );">Short term debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">76<span></span>
</td>
<td class="nump">69<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesToTradeSuppliers', window );">Trade payables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities', window );">Accrued expenses and other accounts payable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(82)<span></span>
</td>
<td class="num">(69)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current maturities of operating lease liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(676)<span></span>
</td>
<td class="nump">379<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LiabilityInRespectOfBusinessCombinationsCurrent', window );">Liabilities in respect of business combinations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PutOptionsOfNoncontrollingInterestsCurrent', window );">Redeemable non-controlling interests</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">23,197<span></span>
</td>
<td class="nump">14,611<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Deferred revenue and customer advances</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLiabilities', window );">Total current liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">22,515<span></span>
</td>
<td class="nump">14,990<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LongTermLiabilitiesAbstract', window );"><strong>LONG-TERM LIABILITIES:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Long-term debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Long-term operating lease liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">937<span></span>
</td>
<td class="nump">121<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent', window );">Liability in respect of business combinations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_DeferredTaxLiabilitiesNonCurrent', window );">Deferred taxes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(167)<span></span>
</td>
<td class="num">(155)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_PutOptionsOfNoncontrollingInterestsNoncurrent', window );">Redeemable non-controlling interests</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,137<span></span>
</td>
<td class="nump">9,315<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentLiabilities', window );">Accrued severance pay, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,646)<span></span>
</td>
<td class="num">(4,673)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLiabilities', window );">Total long-term liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,261<span></span>
</td>
<td class="num">(4,608)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_RedeemableNonControllingInterest', window );">REDEEMABLE NON-CONTROLLING INTEREST</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(30,432)<span></span>
</td>
<td class="num">(24,980)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EquityAbstract', window );"><strong>EQUITY</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IssuedCapital', window );">Share capital</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionalPaidinCapital', window );">Additional paid-in capital</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(27,496)<span></span>
</td>
<td class="num">(23,298)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AccumulatedOtherComprehensiveIncome', window );">Accumulated other comprehensive loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(30)<span></span>
</td>
<td class="num">(398)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RetainedEarnings', window );">Accumulated earnings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">27,414<span></span>
</td>
<td class="nump">22,953<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EquityAttributableToOwnersOfParent', window );">Total equity attributable to company shareholders&#8217;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(112)<span></span>
</td>
<td class="num">(743)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">143<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Total equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(112)<span></span>
</td>
<td class="num">(600)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total liabilities, redeemable non-controlling interest and equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (4,768)<span></span>
</td>
<td class="num">$ (5,981)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AccumulatedOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of accumulated items of income and expense (including reclassification adjustments) that are not recognised in profit or loss as required or permitted by other IFRSs. [Refer: IFRSs [member]; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AccumulatedOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionalPaidinCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount received or receivable from the issuance of the entity's shares in excess of nominal value and amounts received from other transactions involving the entity's stock or stockholders.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionalPaidinCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of a present economic resource controlled by the entity as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B13<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current accrued expenses and other current liabilities. [Refer: Accruals; Other current liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAccruedExpensesAndOtherCurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that the entity (a) expects to realise or intends to sell or consume in its normal operating cycle; (b) holds primarily for the purpose of trading; (c) expects to realise within twelve months after the reporting period; or (d) classifies as cash or cash equivalents (as defined in IAS 7) unless the asset is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. [Refer: Assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentDerivativeFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current derivative financial liabilities. [Refer: Derivative financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentDerivativeFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The amount of liabilities that: (a) the entity expects to settle in its normal operating cycle; (b) the entity holds primarily for the purpose of trading; (c) are due to be settled within twelve months after the reporting period; or (d) the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period.
Effective 2023-01-01: The amount of liabilities that: (a) the entity expects to settle in its normal operating cycle; (b) the entity holds primarily for the purpose of trading; (c) are due to be settled within twelve months after the reporting period; or (d) the entity does not have the right at the end of the reporting period to defer settlement for at least twelve months after the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_iii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 69<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_69&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current prepayments and other current assets. [Refer: Other current assets; Current prepayments]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentPrepaymentsAndOtherCurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAndLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of the entity's equity and liabilities. [Refer: Equity; Liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAndLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of equity attributable to the owners of the parent. This specifically excludes non-controlling interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph r<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_r&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Goodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognised. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2022-03-24<br> -Paragraph 134<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_134_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2022-03-24<br> -Paragraph 135<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_135_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B67<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B67_d&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Goodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsAndGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of intangible assets and goodwill held by the entity. [Refer: Goodwill; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsAndGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IssuedCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The nominal value of capital issued.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IssuedCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The non-current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of equity in a subsidiary not attributable, directly or indirectly, to a parent. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 12<br> -Subparagraph f<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_12_f&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 10<br> -IssueDate 2022-03-24<br> -Paragraph 22<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=10&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_22&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph q<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_q&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that do not meet the definition of current assets. [Refer: Current assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_ii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that do not meet the definition of current liabilities. [Refer: Current liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_iv&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 69<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_69&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCurrentNonfinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current non-financial assets that the entity does not separately disclose in the same statement or note. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCurrentNonfinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherNoncurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current liabilities that the entity does not separately disclose in the same statement or note. [Refer: Non-current liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherNoncurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount receivable by the entity that it does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 73<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RetainedEarnings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing the entity's cumulative undistributed earnings or deficit.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph IG6<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IG6&amp;doctype=Implementation%20Guidance<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RetainedEarnings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that represent a lessee's right to use an underlying asset for the lease term. Underlying asset is an asset that is the subject of a lease, for which the right to use that asset has been provided by a lessor to a lessee.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 53<br> -Subparagraph j<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_53_j&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShorttermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShorttermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A classification of cash equivalents representing short-term investments. [Refer: Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables and current other receivables. [Refer: Current trade receivables; Other current receivables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph h<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_h&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherPayablesToTradeSuppliers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of payment due to suppliers for goods and services used in the entity's business.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherPayablesToTradeSuppliers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DeferredTaxAssetsNonCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DeferredTaxAssetsNonCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_DeferredTaxLiabilitiesNonCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_DeferredTaxLiabilitiesNonCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LiabilityInRespectOfBusinessCombinationsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liability in respect of business combinations current.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LiabilityInRespectOfBusinessCombinationsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liability in respect of business combinations noncurrent.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LiabilityInRespectOfBusinessCombinationsNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LongTermAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LongTermAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_LongTermLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_LongTermLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_PutOptionsOfNoncontrollingInterestsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Put options of non-controlling interests.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_PutOptionsOfNoncontrollingInterestsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_PutOptionsOfNoncontrollingInterestsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of put options of non-controlling interests noncurrent.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_PutOptionsOfNoncontrollingInterestsNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_RedeemableNonControllingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of equity in a subsidiary redeemable not attributable, directly or indirectly, to a parent.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_RedeemableNonControllingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_SeverancePayFund">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The carrying value of deposited severance pay fund as of balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_SeverancePayFund</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AccountingStandardsAxis=mgic_USGAAPMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AccountingStandardsAxis=mgic_USGAAPMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211607114800">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transition to IFRS (Details) - Schedule of consolidated statement of profit or loss - USD ($)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TransitiontoIFRSDetailsScheduleofconsolidatedstatementofprofitorlossLineItems', window );"><strong>Transition to IFRS (Details) - Schedule of consolidated statement of profit or loss [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueFromRenderingOfServices', window );">Software services</a></td>
<td class="nump">$ 32,930<span></span>
</td>
<td class="nump">$ 30,934<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueFromRenderingOfInformationTechnologyMaintenanceAndSupportServices', window );">Maintenance and technical support</a></td>
<td class="nump">34,762<span></span>
</td>
<td class="nump">36,149<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueFromRenderingOfInformationTechnologyConsultingServices', window );">Consulting services</a></td>
<td class="nump">499,100<span></span>
</td>
<td class="nump">413,242<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Total revenues</a></td>
<td class="nump">566,792<span></span>
</td>
<td class="nump">480,325<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostOfSoftware', window );">Software services</a></td>
<td class="nump">10,701<span></span>
</td>
<td class="nump">12,182<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostOfMaintenanceAndTechnicalSupport', window );">Maintenance and technical support</a></td>
<td class="nump">3,494<span></span>
</td>
<td class="nump">4,144<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostOfConsultingServices', window );">Consulting services</a></td>
<td class="nump">397,242<span></span>
</td>
<td class="nump">331,005<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CostOfSales', window );">Total cost of revenues</a></td>
<td class="nump">411,437<span></span>
</td>
<td class="nump">347,331<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit</a></td>
<td class="nump">155,355<span></span>
</td>
<td class="nump">132,994<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ResearchAndDevelopmentExpense', window );">Research and development expenses, net</a></td>
<td class="nump">10,090<span></span>
</td>
<td class="nump">8,995<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SalesAndMarketingExpense', window );">Selling, marketing expenses</a></td>
<td class="nump">46,857<span></span>
</td>
<td class="nump">38,147<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeneralAndAdministrativeExpense', window );">General and administrative expenses</a></td>
<td class="nump">37,552<span></span>
</td>
<td class="nump">31,222<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CumulativeGainLossPreviouslyRecognisedInOtherComprehensiveIncomeArisingFromReclassificationOfFinancialAssetsOutOfFairValueThroughOtherComprehensiveIncomeIntoFairValueThroughProfitOrLossMeasurementCategory', window );">Change in valuation of contingent consideration related to acquisitions</a></td>
<td class="num">(906)<span></span>
</td>
<td class="nump">2,507<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Operating income</a></td>
<td class="nump">61,762<span></span>
</td>
<td class="nump">52,123<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceIncomeCost', window );">Financial expenses</a></td>
<td class="num">(4,993)<span></span>
</td>
<td class="num">(3,802)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceIncome', window );">Financial income</a></td>
<td class="nump">1,392<span></span>
</td>
<td class="nump">113<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions', window );">Increase in valuation of consideration related to acquisitions</a></td>
<td class="num">(744)<span></span>
</td>
<td class="num">(2,817)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent', window );">Income before taxes on income</a></td>
<td class="nump">57,417<span></span>
</td>
<td class="nump">45,617<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Taxes on income</a></td>
<td class="nump">11,138<span></span>
</td>
<td class="nump">10,278<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net income</a></td>
<td class="nump">46,279<span></span>
</td>
<td class="nump">35,339<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="nump">5,809<span></span>
</td>
<td class="nump">5,572<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOwnersOfParent', window );">Equity holders of the Company</a></td>
<td class="nump">$ 40,470<span></span>
</td>
<td class="nump">$ 29,767<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BasicEarningsLossPerShareFromContinuingOperations', window );">Basic and diluted earnings per share (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.61<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccountingStandardsAxis=mgic_USGAAPMember', window );">U.S. GAAP [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TransitiontoIFRSDetailsScheduleofconsolidatedstatementofprofitorlossLineItems', window );"><strong>Transition to IFRS (Details) - Schedule of consolidated statement of profit or loss [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueFromRenderingOfServices', window );">Software services</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 30,934<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueFromRenderingOfInformationTechnologyMaintenanceAndSupportServices', window );">Maintenance and technical support</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">36,149<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueFromRenderingOfInformationTechnologyConsultingServices', window );">Consulting services</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">413,242<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Total revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">480,325<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostOfSoftware', window );">Software services</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,182<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostOfMaintenanceAndTechnicalSupport', window );">Maintenance and technical support</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,144<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostOfConsultingServices', window );">Consulting services</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">331,005<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CostOfSales', window );">Total cost of revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">347,331<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">132,994<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ResearchAndDevelopmentExpense', window );">Research and development expenses, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,995<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SalesAndMarketingExpense', window );">Selling, marketing expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">38,147<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeneralAndAdministrativeExpense', window );">General and administrative expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">32,110<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CumulativeGainLossPreviouslyRecognisedInOtherComprehensiveIncomeArisingFromReclassificationOfFinancialAssetsOutOfFairValueThroughOtherComprehensiveIncomeIntoFairValueThroughProfitOrLossMeasurementCategory', window );">Change in valuation of contingent consideration related to acquisitions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,507<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Operating income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">51,235<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceIncomeCost', window );">Financial expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,268)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceIncome', window );">Financial income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">113<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions', window );">Increase in valuation of consideration related to acquisitions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,817)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent', window );">Income before taxes on income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">45,263<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Taxes on income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,359<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">34,904<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_RedeemableNoncontrollingInterests', window );">Redeemable non-controlling interests</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,517<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,055<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOwnersOfParent', window );">Equity holders of the Company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 29,332<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BasicEarningsLossPerShareFromContinuingOperations', window );">Basic and diluted earnings per share (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.52<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccountingStandardsAxis=mgic_OtherGAAPAdjustmentsAndReclassificationsMember', window );">GAAP Adjustments and reclassifications [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TransitiontoIFRSDetailsScheduleofconsolidatedstatementofprofitorlossLineItems', window );"><strong>Transition to IFRS (Details) - Schedule of consolidated statement of profit or loss [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueFromRenderingOfServices', window );">Software services</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueFromRenderingOfInformationTechnologyMaintenanceAndSupportServices', window );">Maintenance and technical support</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueFromRenderingOfInformationTechnologyConsultingServices', window );">Consulting services</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Total revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostOfSoftware', window );">Software services</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostOfMaintenanceAndTechnicalSupport', window );">Maintenance and technical support</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_CostOfConsultingServices', window );">Consulting services</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CostOfSales', window );">Total cost of revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ResearchAndDevelopmentExpense', window );">Research and development expenses, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SalesAndMarketingExpense', window );">Selling, marketing expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeneralAndAdministrativeExpense', window );">General and administrative expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(888)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CumulativeGainLossPreviouslyRecognisedInOtherComprehensiveIncomeArisingFromReclassificationOfFinancialAssetsOutOfFairValueThroughOtherComprehensiveIncomeIntoFairValueThroughProfitOrLossMeasurementCategory', window );">Change in valuation of contingent consideration related to acquisitions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Operating income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">888<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceIncomeCost', window );">Financial expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(534)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceIncome', window );">Financial income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions', window );">Increase in valuation of consideration related to acquisitions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent', window );">Income before taxes on income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">354<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Taxes on income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(81)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">435<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_RedeemableNoncontrollingInterests', window );">Redeemable non-controlling interests</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,517)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,517<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOwnersOfParent', window );">Equity holders of the Company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 435<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BasicEarningsLossPerShareFromContinuingOperations', window );">Basic and diluted earnings per share (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.09<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BasicEarningsLossPerShareFromContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Basic earnings (loss) per share from continuing operations. [Refer: Basic earnings (loss) per share; Continuing operations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2022-03-24<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2022-03-24<br> -Paragraph 67<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_67&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BasicEarningsLossPerShareFromContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CostOfSales">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of all expenses directly or indirectly attributed to the goods or services sold. Attributed expenses include, but are not limited to, costs previously included in the measurement of inventory that has now been sold, such as depreciation and maintenance of factory buildings and equipment used in the production process, unallocated production overheads, and abnormal amounts of production costs of inventories.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 99<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CostOfSales</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CumulativeGainLossPreviouslyRecognisedInOtherComprehensiveIncomeArisingFromReclassificationOfFinancialAssetsOutOfFairValueThroughOtherComprehensiveIncomeIntoFairValueThroughProfitOrLossMeasurementCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cumulative gain (loss) previously recognised in other comprehensive income arising from the reclassification of financial assets out of the fair value through other comprehensive income into the fair value through profit or loss measurement category. [Refer: Financial assets measured at fair value through other comprehensive income; Financial assets at fair value through profit or loss; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph cb<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_cb&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CumulativeGainLossPreviouslyRecognisedInOtherComprehensiveIncomeArisingFromReclassificationOfFinancialAssetsOutOfFairValueThroughOtherComprehensiveIncomeIntoFairValueThroughProfitOrLossMeasurementCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income associated with interest and other financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceIncomeCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income or cost associated with interest and other financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceIncomeCost</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense relating to general and administrative activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GrossProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue less cost of sales. [Refer: Cost of sales; Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GrossProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income from continuing operations attributable to owners of the parent. [Refer: Continuing operations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxExpenseContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph h<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2022-03-24<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=26&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 79<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B13<br> -Subparagraph g<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherOperatingIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of operating income (expense) that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherOperatingIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 18<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2022-03-24<br> -Paragraph 39L<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=4&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2023-01-01<br> -Name IFRS<br> -Number 17<br> -IssueDate 2022-03-24<br> -Paragraph 113<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=17&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_113_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81A<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing and discontinued operations attributable to non-controlling interests. [Refer: Profit (loss); Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 12<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_12_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81B<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81B_a_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing and discontinued operations attributable to owners of the parent. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81B<br> -Subparagraph a<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81B_a_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ResearchAndDevelopmentExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expenditure directly attributable to research or development activities, recognised in profit or loss.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 126<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_126&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ResearchAndDevelopmentExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Revenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 34<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 10: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromRenderingOfInformationTechnologyConsultingServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue arising from the rendering of consulting services relating to information technology. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromRenderingOfInformationTechnologyConsultingServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromRenderingOfInformationTechnologyMaintenanceAndSupportServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue arising from the rendering of maintenance and support services relating to information technology. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromRenderingOfInformationTechnologyMaintenanceAndSupportServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue arising from the rendering of services. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromRenderingOfServices</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SalesAndMarketingExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense relating to the marketing and selling of goods or services.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SalesAndMarketingExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CostOfConsultingServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cost incurred in providing environmental engineering and consulting; environmental testing and analysis; and remediation services during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CostOfConsultingServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CostOfMaintenanceAndTechnicalSupport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Maintenance costs incurred and directly related to services rendered by an entity during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CostOfMaintenanceAndTechnicalSupport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_CostOfSoftware">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Costs incurred in providing technology services. The services may include training, installation, engineering or consulting. Consulting services often include implementation support, software design or development, or the customization or modification of the licensed software.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_CostOfSoftware</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase in valuation of consideration related to acquisitions.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_IncreaseInValuationOfConsiderationRelatedToAcquisitions</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_RedeemableNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Redeemable non-controlling interests.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_RedeemableNoncontrollingInterests</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_TransitiontoIFRSDetailsScheduleofconsolidatedstatementofprofitorlossLineItems</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AccountingStandardsAxis=mgic_USGAAPMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<td style="white-space:nowrap;">mgic_AccountingStandardsAxis=mgic_OtherGAAPAdjustmentsAndReclassificationsMember</td>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211615602352">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transition to IFRS (Details) - Schedule of consolidated statement of profit or loss (Parentheticals)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2021 </div>
<div>$ / shares</div>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TransitiontoIFRSDetailsScheduleofconsolidatedstatementofprofitorlossParentheticalsLineItems', window );"><strong>Transition to IFRS (Details) - Schedule of consolidated statement of profit or loss (Parentheticals) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations', window );">Diluted earnings per share (in Dollars per share)</a></td>
<td class="nump">$ 0.61<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccountingStandardsAxis=mgic_USGAAPMember', window );">U.S. GAAP [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TransitiontoIFRSDetailsScheduleofconsolidatedstatementofprofitorlossParentheticalsLineItems', window );"><strong>Transition to IFRS (Details) - Schedule of consolidated statement of profit or loss (Parentheticals) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations', window );">Diluted earnings per share (in Dollars per share)</a></td>
<td class="nump">0.52<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AccountingStandardsAxis=mgic_OtherGAAPAdjustmentsAndReclassificationsMember', window );">GAAP Adjustments and reclassifications [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TransitiontoIFRSDetailsScheduleofconsolidatedstatementofprofitorlossParentheticalsLineItems', window );"><strong>Transition to IFRS (Details) - Schedule of consolidated statement of profit or loss (Parentheticals) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations', window );">Diluted earnings per share (in Dollars per share)</a></td>
<td class="nump">$ 0.09<span></span>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Diluted earnings (loss) per share from continuing operations. [Refer: Continuing operations [member]; Diluted earnings (loss) per share]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2022-03-24<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2022-03-24<br> -Paragraph 67<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_67&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_TransitiontoIFRSDetailsScheduleofconsolidatedstatementofprofitorlossParentheticalsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_TransitiontoIFRSDetailsScheduleofconsolidatedstatementofprofitorlossParentheticalsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AccountingStandardsAxis=mgic_USGAAPMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AccountingStandardsAxis=mgic_USGAAPMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AccountingStandardsAxis=mgic_OtherGAAPAdjustmentsAndReclassificationsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_AccountingStandardsAxis=mgic_OtherGAAPAdjustmentsAndReclassificationsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211614977040">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transition to IFRS (Details) - Schedule of equity attributable to Magic&#8217;s shareholders - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 01, 2021</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TransitiontoIFRSDetailsScheduleofequityattributabletoMagicsshareholdersLineItems', window );"><strong>Transition to IFRS (Details) - Schedule of equity attributable to Magic&#8217;s shareholders [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IssueOfEquity', window );">As reported in the Company&#8217;s consolidated financial statements as of</a></td>
<td class="nump">$ 260,432<span></span>
</td>
<td class="nump">$ 265,248<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_MeasurementAdjustmentsRelatedToLeases', window );">Measurement adjustments related to leases</a></td>
<td class="num">(1,654)<span></span>
</td>
<td class="num">(1,210)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementPeriodAdjustmentsRecognisedForParticularAssetsLiabilitiesNoncontrollingInterestsOrItemsOfConsideration', window );">Measurement adjustments related to redeemable non-controlling interests</a></td>
<td class="nump">911<span></span>
</td>
<td class="nump">1,098<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TransitionToIFRS', window );">Transition to IFRS</a></td>
<td class="num">(743)<span></span>
</td>
<td class="num">(112)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnDisposalsOfInvestmentPropertyCarriedAtCostOrInAccordanceWithIFRS16WithinFairValueModel', window );">Accordance with IFRS:</a></td>
<td class="nump">259,689<span></span>
</td>
<td class="nump">265,136<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_IssuedCapitalMember', window );">Share Capital [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TransitiontoIFRSDetailsScheduleofequityattributabletoMagicsshareholdersLineItems', window );"><strong>Transition to IFRS (Details) - Schedule of equity attributable to Magic&#8217;s shareholders [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IssueOfEquity', window );">As reported in the Company&#8217;s consolidated financial statements as of</a></td>
<td class="nump">1,164<span></span>
</td>
<td class="nump">1,165<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_MeasurementAdjustmentsRelatedToLeases', window );">Measurement adjustments related to leases</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementPeriodAdjustmentsRecognisedForParticularAssetsLiabilitiesNoncontrollingInterestsOrItemsOfConsideration', window );">Measurement adjustments related to redeemable non-controlling interests</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TransitionToIFRS', window );">Transition to IFRS</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnDisposalsOfInvestmentPropertyCarriedAtCostOrInAccordanceWithIFRS16WithinFairValueModel', window );">Accordance with IFRS:</a></td>
<td class="nump">1,164<span></span>
</td>
<td class="nump">1,165<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_AdditionalPaidinCapitalMember', window );">Additional paid-in capital [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TransitiontoIFRSDetailsScheduleofequityattributabletoMagicsshareholdersLineItems', window );"><strong>Transition to IFRS (Details) - Schedule of equity attributable to Magic&#8217;s shareholders [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IssueOfEquity', window );">As reported in the Company&#8217;s consolidated financial statements as of</a></td>
<td class="nump">211,713<span></span>
</td>
<td class="nump">211,543<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_MeasurementAdjustmentsRelatedToLeases', window );">Measurement adjustments related to leases</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementPeriodAdjustmentsRecognisedForParticularAssetsLiabilitiesNoncontrollingInterestsOrItemsOfConsideration', window );">Measurement adjustments related to redeemable non-controlling interests</a></td>
<td class="num">(23,298)<span></span>
</td>
<td class="num">(27,496)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TransitionToIFRS', window );">Transition to IFRS</a></td>
<td class="num">(23,298)<span></span>
</td>
<td class="num">(27,496)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnDisposalsOfInvestmentPropertyCarriedAtCostOrInAccordanceWithIFRS16WithinFairValueModel', window );">Accordance with IFRS:</a></td>
<td class="nump">188,415<span></span>
</td>
<td class="nump">184,047<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_RetainedEarningsMember', window );">Retained earnings [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TransitiontoIFRSDetailsScheduleofequityattributabletoMagicsshareholdersLineItems', window );"><strong>Transition to IFRS (Details) - Schedule of equity attributable to Magic&#8217;s shareholders [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IssueOfEquity', window );">As reported in the Company&#8217;s consolidated financial statements as of</a></td>
<td class="nump">39,720<span></span>
</td>
<td class="nump">43,246<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_MeasurementAdjustmentsRelatedToLeases', window );">Measurement adjustments related to leases</a></td>
<td class="num">(1,654)<span></span>
</td>
<td class="num">(1,210)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementPeriodAdjustmentsRecognisedForParticularAssetsLiabilitiesNoncontrollingInterestsOrItemsOfConsideration', window );">Measurement adjustments related to redeemable non-controlling interests</a></td>
<td class="nump">24,607<span></span>
</td>
<td class="nump">28,624<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TransitionToIFRS', window );">Transition to IFRS</a></td>
<td class="nump">22,953<span></span>
</td>
<td class="nump">27,414<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnDisposalsOfInvestmentPropertyCarriedAtCostOrInAccordanceWithIFRS16WithinFairValueModel', window );">Accordance with IFRS:</a></td>
<td class="nump">62,673<span></span>
</td>
<td class="nump">70,660<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_AccumulatedOtherComprehensiveIncomeMember', window );">Accumulated other comprehensive income (loss) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TransitiontoIFRSDetailsScheduleofequityattributabletoMagicsshareholdersLineItems', window );"><strong>Transition to IFRS (Details) - Schedule of equity attributable to Magic&#8217;s shareholders [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IssueOfEquity', window );">As reported in the Company&#8217;s consolidated financial statements as of</a></td>
<td class="nump">7,835<span></span>
</td>
<td class="nump">9,294<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_MeasurementAdjustmentsRelatedToLeases', window );">Measurement adjustments related to leases</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementPeriodAdjustmentsRecognisedForParticularAssetsLiabilitiesNoncontrollingInterestsOrItemsOfConsideration', window );">Measurement adjustments related to redeemable non-controlling interests</a></td>
<td class="num">(398)<span></span>
</td>
<td class="num">(30)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_TransitionToIFRS', window );">Transition to IFRS</a></td>
<td class="num">(398)<span></span>
</td>
<td class="num">(30)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnDisposalsOfInvestmentPropertyCarriedAtCostOrInAccordanceWithIFRS16WithinFairValueModel', window );">Accordance with IFRS:</a></td>
<td class="nump">$ 7,437<span></span>
</td>
<td class="nump">$ 9,264<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnDisposalsOfInvestmentPropertyCarriedAtCostOrInAccordanceWithIFRS16WithinFairValueModel">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) on disposals of investment property carried at cost or in accordance with IFRS 16 within the fair value model. [Refer: At cost or in accordance with IFRS 16 within fair value model [member]; Investment property]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 40<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph d<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=40&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_d_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnDisposalsOfInvestmentPropertyCarriedAtCostOrInAccordanceWithIFRS16WithinFairValueModel</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IssueOfEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase in equity through the issue of equity instruments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IssueOfEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MeasurementPeriodAdjustmentsRecognisedForParticularAssetsLiabilitiesNoncontrollingInterestsOrItemsOfConsideration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of measurement period adjustments recognised for particular assets, liabilities, non-controlling interests or items of consideration if the initial accounting for a business combination is incomplete. The measurement period is the period after the acquisition date during which the acquirer may adjust the provisional amounts recognised for a business combination. [Refer: Non-controlling interests; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B67<br> -Subparagraph a<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B67_a_iii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MeasurementPeriodAdjustmentsRecognisedForParticularAssetsLiabilitiesNoncontrollingInterestsOrItemsOfConsideration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_MeasurementAdjustmentsRelatedToLeases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of measurement adjustments related to leases.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_MeasurementAdjustmentsRelatedToLeases</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_TransitionToIFRS">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of transition to IFRS.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_TransitionToIFRS</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_TransitiontoIFRSDetailsScheduleofequityattributabletoMagicsshareholdersLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mgic_TransitiontoIFRSDetailsScheduleofequityattributabletoMagicsshareholdersLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mgic_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_IssuedCapitalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=ifrs-full_IssuedCapitalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_AdditionalPaidinCapitalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=ifrs-full_AdditionalPaidinCapitalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_RetainedEarningsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=ifrs-full_RetainedEarningsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_AccumulatedOtherComprehensiveIncomeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=ifrs-full_AccumulatedOtherComprehensiveIncomeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</body>
</html>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140211615514848">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Subsequent Events (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1">1 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Mar. 27, 2023</div></th>
<th class="th"><div>Mar. 09, 2023</div></th>
<th class="th"><div>Mar. 31, 2022</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_SubsequentEventsDetailsLineItems', window );"><strong>Disclosure Of Events After Reporting Period Text Block [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendPayables', window );">Cash dividend</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 14,728<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ParValuePerShare', window );">Shareholder per share (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingCostsIncurred', window );">Borrowing cost</a></td>
<td class="nump">$ 20,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mgic_AnnualInstalmentsRepaid', window );">Annual instalments repaid</a></td>
<td class="nump">$ 6,052<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate</a></td>
<td class="nump">3.38%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.25%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingCostsIncurred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of interest and other costs that an entity incurs in connection with the borrowing of funds.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingCostsIncurred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The interest rate on borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends that the company has declared but not yet paid.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ParValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The nominal value per share.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_79_a_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ParValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mgic_AnnualInstalmentsRepaid">
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    <ifrs-full:InterestPaidClassifiedAsOperatingActivities contextRef="c0" decimals="-3" unitRef="usd">1306000</ifrs-full:InterestPaidClassifiedAsOperatingActivities>
    <ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"/&gt;&lt;td style="width: 0.75in; text-align: left"&gt;NOTE 1:-&lt;/td&gt;&lt;td style="text-align: justify"&gt;GENERAL&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;MAGIC SOFTWARE ENTERPRISES LTD., an Israeli company (&#x201c;the Company&#x201d; or &#x201c;the Company&#x201d;), is a global provider of: (i) proprietary application development and business process integration platforms that accelerate the planning, development, deployment and integration of on-premise, mobile and cloud business applications (&#x201c;the Magic Technology&#x201d;); (ii) selected packaged vertical software solutions; and (iii) a vendor of software services and IT outsourcing software services.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Magic Technology enables enterprises
to accelerate the process of delivering business solutions that meet current and future needs and allow customers to dramatically improve
their business performance and return on investment. To complement its software products and to increase its traction with customers,
the Company also offers a complete portfolio of software services in the areas of infrastructure design and delivery, application development,
technology planning and implementation services, communications services and solutions, and supplemental IT professional outsourcing
services. The Company reports its results on the basis of two reportable business segments: software services (which include proprietary
and non-proprietary software solutions, maintenance and support and related services) and IT professional services (see Note 22 for further
details).&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The Company&#x2019;s principal markets
are the United States, Israel, Europe and Japan (see Note 22).&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;For information about the Company&#x2019;s
holdings in subsidiaries and affiliates, see Appendix to the consolidated financial statements.&lt;/p&gt;</ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory>
    <ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"/&gt;&lt;td style="width: 0.75in; text-align: left"&gt;NOTE 2:-&lt;/td&gt;&lt;td style="text-align: justify"&gt;SIGNIFICANT ACCOUNTING POLICIES&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;The following accounting policies
have been applied consistently in the financial statements for all periods presented, unless otherwise stated.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;1)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Basis of presentation of the financial statements&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;These financial statements have been prepared in accordance with International Financial Reporting Standards as issued by the International
Accounting Standards Board (&#x201c;IFRS&#x201d;).&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.2pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The financial statements
for the year ended December 31, 2021 were the Company&#x2019;s first consolidated financial statements prepared in accordance with IFRS.
The date of transition to IFRS was January 1, 2021. For all periods up to and including the year ended December 31, 2021, the Company
prepared its financial statements in accordance with United States generally accepted accounting principles (&#x201c;U.S. GAAP&#x201d;).
Accordingly, the Company&#x2019;s first consolidated financial statements that comply with IFRS are applicable as of December 31, 2022,
together with the comparative period data for the year ended December 31, 2021 (See also Note 22 to our consolidated financial statements).&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Measurement basis:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company&#x2019;s
consolidated financial statements are prepared on a cost basis, except for financial assets measured at fair value through other comprehensive
income (&#x201c;OCI&#x201d;), employee benefit assets and liabilities, and financial assets and liabilities which are presented at fair
value through profit or loss. (See Note 6).&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company has elected
to present the profit or loss items using the function of expense method.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in"&gt;2)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Use of estimates, judgments and assumptions:&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The preparation of
the consolidated financial statements requires management to make estimates, judgments, and assumptions, that have an effect on the application
of the accounting policies and on the reported amounts of assets, liabilities, revenues and expenses in the financial statements. Such
judgments, estimates and assumptions are related, but not limited to liabilities in respect of business combinations, goodwill and intangible
assets and their subsequent impairment analysis, determination of fair value of put options of non-controlling interests, legal contingencies,
research and development capitalization as well as amortization periods, classification of leases as well as the determination of the
lease term and the incremental borrowing rate, income tax uncertainties, deferred taxes, share-based compensation, as well as the determination
of revenue recognition from contracts accounted for based on the estimate of percentage of completion, identification of performance
obligations and the determination of the transaction price as well as the standalone selling prices, and evaluating expected credit losses
(&#x201c;ECL&#x201d;). The Company&#x2019;s management believes that the estimates, judgments, and assumptions used, are reasonable based
upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets
and liabilities and disclosure of contingent assets and liabilities at the dates of the consolidated financial statements, and the reported
amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Changes in accounting
estimates are reported in the period of the change in estimate.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;3)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Consolidated financial statements:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The consolidated
financial statements comprise the financial statements of companies that are controlled by the Company (subsidiaries). Control is achieved
when the Company is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect
those returns through its power over the investee. Potential voting rights are considered when assessing whether an entity has control.
The consolidation of the financial statements commences on the date on which control is obtained and ends when such control ceases.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The financial statements
of the Company and of the subsidiaries are prepared for the same reporting period and using consistent accounting treatment of similar
transactions and economic activities. Significant intragroup balances and transactions and gains or losses resulting from intragroup
transactions are eliminated in full in the consolidated financial statements.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;4)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Non-controlling interests&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Non-controlling interests
in subsidiaries, represent the equity in subsidiaries not attributable, directly or indirectly, to a parent. Non-controlling interests
are presented in equity separately from the equity attributable to the equity holders of the Company. Profit or loss and components of
other comprehensive income are attributed to the Company and to non-controlling interests. Losses are attributed to non-controlling interests
even if they result in a negative balance of non-controlling interests in the consolidated statement of financial position. A change
in the ownership interest of a subsidiary, without a loss of control, is accounted for as a change in equity by adjusting the carrying
amount of the non-controlling interests with a corresponding adjustment of the equity attributable to equity holders of the Company less
/ plus the consideration paid or received.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;5)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Business combinations and goodwill:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.2pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Business combinations are accounted
for by applying the acquisition method. The cost of the acquisition is measured at the fair value of the consideration transferred on
the acquisition date with the addition of non-controlling interests in the acquiree. In each business combination, the Company chooses
whether to measure the non-controlling interests in the acquiree based on their fair value on the acquisition date or at their proportionate
share in the fair value of the acquiree&#x2019;s net identifiable assets.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; margin: 0pt 0pt 0pt 0.65in; text-align: left"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Direct acquisition costs are carried
to the statement of profit or loss as incurred.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.65in; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;In a business combination achieved
in stages, equity interests in the acquiree that had been held by the acquirer prior to obtaining control are measured at the acquisition
date fair value while recognizing a gain or loss resulting from the revaluation of the prior investment on the date of achieving control.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;A put option granted by the Group
to non-controlling interests is accounted for using the expected purchase approach under the presumption that the put option will be
exercised, and therefore the parent effectively holds an interest in the subsidiary&#x2019;s shares as if the put option had been exercised.
A put option granted by the Group to non-controlling interests for which the consideration to be paid in cash or other financial asset
is recognized as a liability in the amount of the present value of the option&#x2019;s exercise price.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 85.05pt 0pt 0; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Contingent consideration is recognized
at fair value on the acquisition date and classified as a financial asset or liability in accordance with IFRS 9. Subsequent changes
in the fair value of the contingent consideration are recognized in profit or loss.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 85.05pt 0pt 0; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Goodwill is initially measured at
cost which represents the excess of the acquisition consideration and the amount of non-controlling interests over the net identifiable
assets acquired and liabilities assumed. If the resulting amount is negative, the acquirer recognizes the resulting gain on the acquisition
date.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="text-align: justify; width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: justify"&gt;6)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Functional currency, presentation currency and foreign currency:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="text-align: justify; width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: justify"&gt;i.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Functional currency and presentation currency:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The presentation currency of these
financial statements is the U.S dollars (the &#x201c;dollar&#x201d;), since the Company believes that financial statements in U.S dollars
provide more relevant information to its investors and users of the financial statements. Also, the dollar is the currency of the primary
economic environment in which the Company and certain subsidiaries operate. Thus, the functional and reporting currency of the Company
and certain subsidiaries is the dollar.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Assets, including fair value adjustments
upon acquisition, and liabilities of an investee which is a foreign operation, are translated at the closing rate at each reporting date.
Profit or loss items are translated at average exchange rates for all periods presented. The resulting translation differences are recognized
in other comprehensive income (loss).&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Intragroup loans for which settlement
is neither planned nor likely to occur in the foreseeable future are, in substance, a part of the investment in the foreign operation
and, accordingly, the exchange rate differences from these loans (net of the tax effect) are recorded in other comprehensive income (loss).&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="text-align: justify; width: 0.75in"/&gt;&lt;td style="text-align: justify; width: 0.25in"&gt;ii.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Transactions, assets and liabilities in
                                            foreign currency:&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Transactions denominated in foreign
currency are recorded upon initial recognition at the exchange rate at the date of the transaction. After initial recognition, monetary
assets and liabilities denominated in foreign currency are translated at each reporting date into the functional currency at the exchange
rate at that date. Exchange rate differences are recognized in profit or loss. Non-monetary assets and liabilities denominated in foreign
currency and measured at cost are translated at the exchange rate at the date of the transaction. Non-monetary assets and liabilities
denominated in foreign currency and measured at fair value are translated into the functional currency using the exchange rate prevailing
at the date when the fair value was determined.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;7)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Cash equivalents:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.2pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Cash equivalents are considered short-term
highly liquid investments, that are readily convertible to cash with original maturities of three months or less, at acquisition. Cash
and cash equivalents include amounts held primarily in NIS, dollar, Euro, Japanese Yen and British Pound.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;8)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Short-term bank deposits:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Short-term bank deposits
are deposits with an original maturity of more than three months from the date of investment and which do not meet the definition of
cash equivalents. The deposits are presented at a cost (including accrued interest) which approximates their fair value. Restricted deposits
include deposits used to secure certain subsidiaries&#x2019; ongoing projects, as well as security deposits with respect to leases, and are
classified under other short-term and long-term receivables.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;As of January 1,
2021, December 31, 2021 and 2022, the Company&#x2019;s bank deposits are mainly denominated in U.S. dollars and bear yearly interest rates of
mainly&#160;0.27%, 0.27% and&#160;3.54%, respectively.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;9)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Revenue recognition:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Revenues are recognized when control
of the promised goods or services are transferred to the customers, in an amount that reflects the consideration that the company expects
to receive in exchange for those goods or services.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The Company determines revenue recognition
through the following steps:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&#x25cf;&lt;/td&gt;&lt;td style="text-align: justify"&gt;identification of the contract with a customer;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&#x25cf;&lt;/td&gt;&lt;td style="text-align: justify"&gt;identification of the performance obligations in the contract;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&#x25cf;&lt;/td&gt;&lt;td style="text-align: justify"&gt;determination of the transaction price;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&#x25cf;&lt;/td&gt;&lt;td style="text-align: justify"&gt;allocation of the transaction price to the performance obligations
in the contract; and&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&#x25cf;&lt;/td&gt;&lt;td style="text-align: justify"&gt;recognition of revenue when, or as, the Company satisfies
a performance obligation.&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The Company enters into contracts that
can include various combinations of products, software and professional services, as detailed below, which are generally distinct from
each other and accounted for as separate performance obligations.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The Company derives its revenues from
licensing the rights to use its software (proprietary and non-proprietary), provision of related professional services, maintenance and
technical support as well as from other software and IT professional services (either fixed price or based on time and materials). The
Company sells its products primarily through direct sales force and indirectly through distributors and value added resellers.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify"&gt;Under IFRS 15, an entity recognizes
revenue when or as it satisfies a performance obligation by transferring software license or software related services to the customer,
either at a point in time or over time. When the Company enters into a contract for the sale of software license which does not require
significant implementation services, and the customer receives the rights to use the perpetual or term-based software license, the Company
recognizes revenue from the sale of the software license at the time of delivery, when the customer receives control of the software
license. The software license is considered a distinct performance obligation recognized at a point-in-time, as the customer can benefit
from the software on its own or together with other readily available resources. Revenue from long term contracts which involve significant
implementation, customization, or integration of the Company&#x2019;s software license to customer-specific requirements are considered
as one performance obligation satisfied over-time. The underlying deliverable is owned and controlled by the customer and does not create
an asset with an alternative use to the Company. The Company recognizes revenue of such contracts over time using cost inputs, which
recognize revenue and gross profit as work is performed based on a ratio between actual costs incurred compared to the total estimated
costs for the contract, to measure progress toward completion of its performance obligations. Provisions for estimated losses on uncompleted
contracts are made in the period in which such losses are first determined, in the amount of the estimated loss for the entire contract.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify"&gt;In addition, the
Company provides professional services that do not involve significant customization to customer-specific specifications (typically staffing
or consulting services). The revenue is recognized as the services are performed, either on a straight-line basis or based on the hours
of services that were provided to the customer, in accordance with the terms of the contracts.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: 0pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify"&gt;The Company&#x2019;s
revenues from post contract support are derived from annual maintenance contracts providing for unspecified upgrades for new versions
and enhancements on a when-and-if-available basis for an annual fee, as well as technical support for software licenses previously sold.
The right for an unspecified upgrade for new versions and enhancements on a when-and-if-available basis do not specify the features,
functionality and release date of future product enhancements for the customer to know what will be made available and the general timeframe
in which it will be delivered. The Company considers the post contract support performance obligation as a distinct performance obligation
that is satisfied over time, and recognized on a straight-line basis over the contractual period.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: 0pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify"&gt;Revenue from professional
services, both related to software and IT professional services businesses consists of either fixed price or time and materials, and
are considered performance obligations that are satisfied over time, and revenues are recognized as the services are provided.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: 0pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify"&gt;The transaction price
is allocated to the separate performance obligations on a relative standalone selling price basis. Stand-alone selling prices of software
licenses are typically estimated using the residual approach. Stand-alone selling prices of services are typically estimated based on
observable transactions when these services are sold on a standalone basis.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: 0pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify"&gt;When another party
is involved in providing goods or services to the customer, the Company examines whether the nature of its promise is a performance obligation
to provide the defined goods or services itself, which means the Company is a principal and therefore recognizes revenue in the gross
amount of the consideration, or to arrange that another party provide the goods or services which means the Company is an agent and therefore
recognizes revenue in the amount of the net commission.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The Company is a
principal when it controls the promised goods or services before their transfer to the customer. Indicators that the Company controls
the goods or services before their transfer to the customer include, inter alia, as follows: the Company is responsible for fulfilling
the promises in the contract; the Company has inventory risk before the goods or services are transferred to the customer; and the Company
has discretion in setting the prices of the goods or services.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Revenue from third-party
sales is recorded at a gross or net amount according to certain indicators. The application of these indicators for gross and net reporting
of revenue depends on the relative facts and circumstances of each sale.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The Company pays
commissions to sales and marketing and certain management personnel based on their attainment of certain predetermined sales or profit
goals. The Company expenses sales commissions as they are incurred when the amortization period would have been less than one year. In
addition, generally, sales commissions which are paid upon contract renewal are commensurate with the initial commissions as the renewal
amounts are substantially identical to the initial commission costs. During the years ended December 31, 2022 and 2021, no costs have
been capitalized.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The Company does
not assess whether a contract has a significant financing component if the expectation at contract inception is such that the period
between payment by the customer and the transfer of the promised goods or services to the customer will be one year or less.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;10)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Income tax:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Current or deferred
taxes are recognized in profit or loss, except to the extent that they relate to items which are recognized in other comprehensive income
or equity.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&#x25cf;&lt;/td&gt;&lt;td style="text-align: justify"&gt;Current taxes:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;The current tax
liability is measured using the tax rates and tax laws that have been enacted or substantively enacted by the reporting date as well
as adjustments required in connection with the tax liability in respect of previous years.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&#x25cf;&lt;/td&gt;&lt;td style="text-align: justify"&gt;Deferred taxes:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.95pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;Deferred taxes
are computed in respect of temporary differences between the carrying amounts in the financial statements and the amounts attributed
for tax purposes. Deferred taxes are measured at the tax rate that is expected to apply when the asset is realized or the liability is
settled, based on tax laws that have been enacted or substantively enacted by the reporting date. Deferred tax assets are reviewed at
each reporting date and reduced to the extent that it is not probable that they will be utilized. Deductible carryforward losses and
temporary differences for which deferred tax assets had not been recognized are reviewed at each reporting date and a respective deferred
tax asset is recognized to the extent that their utilization is probable.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.95pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Taxes that would
apply in the event of the disposal of investments in investees have not been considered in computing deferred taxes, as long as the disposal
of the investments in investees is not probable in the foreseeable future. Also, deferred taxes that would apply in the event of distribution
of earnings by investees as dividends have not been considered in computing deferred taxes, since the distribution of dividends does
not involve an additional tax liability or since it is the Company&#x2019;s policy not to initiate distribution of dividends from a subsidiary
that would trigger an additional tax liability.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 46.5pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Taxes on income
that relate to distributions of an equity instrument and to transaction costs of an equity transaction are accounted for pursuant to
IAS 12.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Deferred taxes are
offset if there is a legally enforceable right to offset a current tax asset against a current tax liability and the deferred taxes relate
to the same taxpayer and the same taxation authority.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 46.5pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in"&gt;&#x25cf;&lt;/td&gt;&lt;td style="text-align: justify"&gt;Uncertain
                                            tax position:&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;A provision for
uncertain tax positions, including additional tax and interest expenses, is recognized when it is more likely than not that the Company
will have to use its economic resources to pay the obligation.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 46.5pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;11)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Leases:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company accounts
for a contract as a lease when the contract terms convey the right to control the use of an identified asset for a period of time in
exchange for consideration.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;i)&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;&lt;span style="text-decoration:underline"&gt;The Company as lessee&lt;/span&gt;:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;For leases in which
the Company is the lessee, the Company recognizes on the commencement date of the lease a right-of-use asset and a lease liability, excluding
leases whose term is up to twelve months and leases for which the underlying asset is of low value. For these excluded leases, the Company
has elected to recognize the lease payments as an expense in profit or loss on a straight-line basis over the lease term. In measuring
the lease liability, the Company has elected to apply the practical expedient in the Standard and does not separate the lease components
from the non-lease components (such as management and maintenance services, etc.) included in a single contract.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;Leases which entitle
employees to a company car as part of their employment terms are accounted for as employee benefits in accordance with the provisions
of IAS 19 and not as subleases.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;On the commencement
date, the lease liability includes all unpaid lease payments discounted at the interest rate implicit in the lease, if that rate can
be readily determined, or otherwise using the Company&#x2019;s incremental borrowing rate. After the commencement date, the Company measures
the lease liability using the effective interest rate method.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;On the commencement
date, the right-of-use asset is recognized in an amount equal to the lease liability plus lease payments already made on or before the
commencement date and initial direct costs incurred. The right-of-use asset is measured applying the cost model and depreciated over
the shorter of its useful life and the lease term.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;Following are the
amortization periods of the right-of-use assets by class of underlying asset:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Years&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Mainly&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left; text-indent: -7.1pt; padding-left: 7.15pt"&gt;Land and buildings&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: center"&gt;1&#x2013;11&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: center"&gt;3&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; text-indent: -7.1pt; padding-left: 7.15pt"&gt;Motor vehicles&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center"&gt;1&#x2013;5&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center"&gt;3&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;The Company tests
for impairment of the right-of-use asset whenever there are indications of impairment pursuant to the provisions of IAS 36.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;ii)&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Variable lease payments that depend on an index:&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;On the commencement
date, the Company uses the index rate prevailing on the commencement date to calculate the future lease payments.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;For leases in which
the Company is the lessee, the aggregate changes in future lease payments resulting from a change in the index are discounted (without
a change in the discount rate applicable to the lease liability) and recorded as an adjustment of the lease liability and the right-of-use
asset, only when there is a change in the cash flows resulting from the change in the index (that is, when the adjustment to the lease
payments takes effect).&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;iii)&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Lease extension and termination options&lt;/span&gt;:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;A non-cancelable lease
term includes both the periods covered by an option to extend the lease when it is reasonably certain that the extension option will
be exercised and the periods covered by a lease termination option when it is reasonably certain that the termination option will not
be exercised.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;In the event of any
change in the expected exercise of the lease extension option or in the expected non-exercise of the lease termination option, the Company
remeasures the lease liability based on the revised lease term using a revised discount rate as of the date of the change in expectations.
The total change is recognized in the carrying amount of the right-of-use asset until it is reduced to zero, and any further reductions
are recognized in profit or loss.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;iv)&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Lease modifications&lt;/span&gt;:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;If a lease modification
does not reduce the scope of the lease and does not result in a separate lease, the Company remeasures the lease liability based on the
modified lease terms using a revised discount rate as of the modification date and records the change in the lease liability as an adjustment
to the right-of-use asset.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 135.75pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;If a lease modification
reduces the scope of the lease, the Company recognizes a gain or loss arising from the partial or full reduction of the carrying amount
of the right-of-use asset and the lease liability. The Company subsequently remeasures the carrying amount of the lease liability according
to the revised lease terms, at the revised discount rate as of the modification date and records the change in the lease liability as
an adjustment to the right-of-use asset.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;12)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Property, plant and equipment, net:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.2pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Property, plant and equipment
are measured at cost, including directly attributable costs, less accumulated depreciation. Cost includes spare parts and auxiliary
equipment that are used in connection with plant and equipment. The cost of an item of property, plant and equipment comprises the
initial estimate of the costs of dismantling and removing the item and restoring the site on which the item is located.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Depreciation is calculated
on a straight-line basis over the estimated useful life of the assets at annual rates as follows:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;b&gt;Years&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 85%; text-align: justify"&gt;Software&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="width: 12%; text-align: center"&gt;3&#x2013;5 (mainly 5)&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;Computers and peripheral equipment&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center"&gt;3&#x2013;5&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;Office furniture and equipment&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center"&gt;7&#x2013;15 (mainly 7)&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;Motor vehicles&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center"&gt;7&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Leasehold improvements
are amortized using the straight-line method over the term of the lease (including option terms that are deemed to be reasonably assured)
or the estimated useful life of the improvements, whichever is shorter.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The useful life,
the depreciation method and the residual value of an asset are reviewed at least each year-end (at the end of the year) and any changes
are accounted for prospectively as a change in accounting estimate. Depreciation of an asset ceases at the earlier of the date that the
asset is classified as held for sale and the date that the asset is derecognized.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;13)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Intangible assets:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.2pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Separately acquired
intangible assets are measured on initial recognition at cost, including directly attributable costs. Intangible assets acquired in a
business combination are measured at fair value at the acquisition date. Expenditures relating to internally generated intangible assets,
excluding capitalized development costs, are recognized in profit or loss when incurred.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Intangible assets
with a finite useful life are amortized over their useful life and reviewed for impairment whenever there is an indication that the asset
may be impaired. The amortization period and the amortization method for an intangible asset are reviewed at least at each year end.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;&lt;span style="text-decoration:underline"&gt;Research and development
expenditures&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Research expenditures
incurred in the process of software development are recognized in profit or loss when incurred. An intangible asset arising from a software
development project or from the development phase of an internal project is recognized if the Company can demonstrate the technical feasibility
of completing the intangible asset so that it will be available for use or sale; the Company&#x2019;s intention to complete the intangible
asset and use or sell it; the ability to use or sell the intangible asset; how the intangible asset will generate future economic benefits;
the availability of adequate technical, financial and other resources to complete the intangible asset; and the ability to measure reliably
the respective expenditure asset during its development. The Company establishes technological feasibility upon completion of a detailed
program design or a working model.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Capitalized software
costs are measured at cost less any accumulated amortization and any accumulated impairment losses on a product-by-product basis. Amortization
of capitalized software costs begin when development is complete, and the product is available for use or for sale. The Company considers
a product to be available for use when the Company completes its internal validation of the product that is necessary to establish that
the product meets its design specifications including functions, features, and technical performance requirements. Internal validation
includes the completion of coding, documentation and testing that ensure bugs are reduced to a minimum. The internal validation of the
product takes place a few weeks before the product is made available to the market. In certain instances, the Company enters into a short
pre-release stage, during which the product is made available to a selected number of customers as a beta program for their own review
and familiarization. Subsequently, the release is made generally available to customers. Once a product is considered available for use,
the capitalization of costs ceases and amortization of such costs to &#x201c;cost of sales&#x201d; begins.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Capitalized software
costs are amortized on a product-by-product basis by the straight-line method over the estimated useful life of the software product
(between 5-7 years).&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Research and development
costs incurred in the process of developing product enhancements are generally charged to expenses as incurred.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company assesses
the recoverability of its capitalized software costs on a regular basis by assessing the net realizable value of these intangible assets
based on the estimated future gross revenues from each product reduced by the estimated future costs of completing and disposing of it,
including the estimated costs of performing maintenance and customer support over its remaining economical useful life using internally
generated projections of future revenues generated by the products, cost of completion of products and cost of delivery to customers
over its remaining economical useful life.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;&lt;span style="text-decoration:underline"&gt;Other intangible
assets&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Intangible assets
excluding capitalized development costs are comprised mainly of customer-related intangible assets, backlogs, acquired technology and
patent, and are amortized over their useful lives using a method of amortization that reflects the pattern in which the economic benefits
of the intangible assets are consumed or otherwise used up. The useful life of intangible assets is as follows:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: center; padding-left: 0pt"&gt;Years&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 84%; text-align: justify; padding-left: 0pt"&gt;Customer relationships&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 15%; text-align: center; padding-left: 0pt"&gt;Up to 15&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-left: 0pt"&gt;Acquired technology&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 0pt"&gt;Up to 10 (mainly 5)&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Gains or losses arising
from the derecognition of an intangible asset are determined as the difference between the net disposal proceeds and the carrying amount
of the asset and are recognized in profit or loss.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The useful life of
these assets is reviewed annually to determine whether their indefinite life assessment continues to be supportable. If the events and
circumstances do not continue to support the assessment, the change in the useful life assessment from indefinite to finite is accounted
for prospectively as a change in accounting estimate, and on that date the asset is tested for impairment. Commencing from that date,
the asset is amortized systematically over its useful life.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;14)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Impairment of non-financial assets:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company evaluates
the need to record an impairment of non-financial assets (property, plant and equipment, capitalized software costs and other intangible
assets, goodwill) whenever events or changes in circumstances indicate that the carrying amount is not recoverable. If the carrying amount
of non-financial assets exceeds their recoverable amount, the assets are reduced to their recoverable amount. The recoverable amount
is the higher of fair value less costs of sale and value in use. In measuring value in use, the expected future cash flows are discounted
using a pre-tax discount rate that reflects the risks specific to the asset. The recoverable amount of an asset that does not generate
independent cash flows is determined for the cash-generating unit to which the asset belongs. Impairment losses are recognized in profit
or loss.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;An impairment loss
of an asset, other than goodwill, is reversed only if there have been changes in the estimates used to determine the asset&#x2019;s recoverable
amount since the last impairment loss was recognized. Reversal of an impairment loss, as above, shall not be increased above the lower
of the carrying amount that would have been determined (net of depreciation or amortization) had no impairment loss been
recognized for the asset in prior years and its recoverable amount. The reversal of impairment loss of an asset presented at cost is
recognized in profit or loss.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;For the purpose of
impairment testing, goodwill acquired in a business combination is allocated, at the acquisition date, to each of our cash-generating
units that are expected to benefit from the synergies of the combination. The Company reviews goodwill for impairment once a year, on
December 31, or more frequently if events or changes in circumstances indicate that there is an impairment.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Goodwill is tested
for impairment by assessing the recoverable amount of the cash-generating unit (or group of cash-generating units) to which the goodwill
has been allocated. An impairment loss is recognized if the recoverable amount of the cash-generating unit (or group of cash-generating
units) to which goodwill has been allocated is less than the carrying amount of the cash-generating unit (or group of cash-generating
units). Any impairment loss is allocated first to goodwill. Impairment losses recognized for goodwill cannot be reversed in subsequent
periods.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;During the years
ended December 31, 2021 and 2022, no impairment loss was identified.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;15)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Financial instruments:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The accounting policy for financial instruments
in accordance with IFRS 9, &#x201c;Financial Instruments&#x201d; (&#x201c;the Standard&#x201d;) is as follows:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;1.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Financial assets&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Financial assets
are measured upon initial recognition at fair value plus transaction costs that are directly attributable to the acquisition of the financial
assets, except for financial assets measured at fair value through profit or loss in respect of which transaction costs are recorded
in profit or loss.\&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company classifies
and measures debt instruments in the financial statements based on the following criteria:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;-&lt;/td&gt;&lt;td style="text-align: justify"&gt;The Company&#x2019;s business model for managing financial
assets, and;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;-&lt;/td&gt;&lt;td style="text-align: justify"&gt;The contractual cash flow terms of the financial asset.&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: left"&gt;Impairment of financial assets:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company evaluates
at the end of each reporting period the loss allowance for financial debt instruments which are not measured at fair value through profit
or loss.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company has short-term
financial assets such as trade receivables in respect of which the Company applies a simplified approach and measures the loss allowance
in an amount equal to the lifetime expected credit losses.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;An impairment loss
on debt instruments measured at amortized cost is recognized in profit or loss with a corresponding loss allowance that is offset from
the carrying amount of the financial asset.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company has
short-term financial assets such as trade receivables in respect of which the Company applies a simplified approach in IFRS 9 and measures
the loss allowance in an amount equal to the lifetime expected credit losses. Trade receivables include original invoiced amounts less
an allowance for any potential uncollectible amounts and less invoiced amounts from maintenance and professional services contracts which
haven&#x2019;t been recognized yet&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;. &lt;/span&gt;&lt;span style="font-size: 10pt"&gt;The
Company makes estimates of expected credit losses for the allowance for doubtful accounts based upon its assessment of various factors,
including historical experience, the age of the trade receivable balances, credit quality of its customers, current economic conditions,
reasonable and supportable forecasts of future economic conditions, and other factors that may affect its ability to collect from customers.
The estimated credit loss allowance is recorded as general and administrative expenses on the Company&#x2019;s consolidated statements of profit
or loss. Such allowance charge amounted of $ 892 and $ 1,778, respectively for the years ended December 31, 2021 and 2022.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;2.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Financial liabilities&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 141.75pt; text-align: justify; text-indent: -0.5in"/&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;a)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Financial liabilities measured at amortized cost:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;Financial liabilities
are initially recognized at fair value less transaction costs that are directly attributable to the issue of the financial liability.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;After initial recognition,
the Company measures all financial liabilities at amortized cost using the effective interest rate method, except for financial liabilities
at fair value through profit or loss.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;b)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Financial liabilities measured at fair value through profit
or loss:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;At initial recognition,
the Company measures financial liabilities that are not measured at amortized cost at fair value. Transaction costs are recognized in
profit or loss.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;After initial recognition,
changes in fair value are recognized in profit or loss, except for put option granted to non-controlling interests.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;Put option granted
to non-controlling interests:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.2pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;When the Company
grants to non-controlling interests a put option to sell part or all of their interests in a subsidiary, during a certain period, even
if such purchase obligation is conditional on the counterparty&#x2019;s exercise of its contractual right to cause such redemption, if
the put option agreement does not transfer to the Company any benefits incidental to ownership of the equity instrument (i.e. the Company
does not have a present ownership in the shares concerned) then at the end of each reporting period the non-controlling interests (to
which a portion of net profit attributable to non-controlling interests is allocated) are classified as a financial liability, as if
such put-able equity instrument was redeemed on that date. The difference between the non-controlling interests carrying amount at the
end of the reporting period and the present value of the liability is recognized directly in equity of the Company, under &#x201c;Additional
paid-in capital&#x201d;.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;The Company remeasures
the financial liability at the end of each reporting period based on the estimated present value of the consideration to be transferred
upon the exercise of the put option.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;If the option is
exercised in subsequent periods, the consideration paid upon exercise is treated as settlement of the liability. If the put option expires,
the liability is settled and a portion of the investment in the subsidiary disposed of, without loss of control therein.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;16)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Fair value measurement:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Fair value is the
price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at
the measurement date. Fair value measurement is based on the assumption that the transaction will take place in the asset&#x2019;s or the liability&#x2019;s
principal market, or in the absence of a principal market, in the most advantageous market.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The fair value of
an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming
that market participants act in their economic best interest. Fair value measurement of a non-financial asset takes into account a market
participant&#x2019;s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market
participant that would use the asset in its highest and best use. The Company uses valuation techniques that are appropriate in the circumstances
and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the
use of unobservable inputs.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td style="width: 0.75in"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5in; padding-left: 8.5pt; text-indent: -8.5pt; text-align: left"&gt;Level 1&lt;/td&gt;
    &lt;td style="width: 0.25in; padding-right: 5.4pt; text-align: center; text-indent: 0in"&gt;-&lt;/td&gt;
    &lt;td style="padding-right: 1.4pt; text-align: justify; text-indent: 0in"&gt;quoted prices (unadjusted) in active markets
    for identical assets or liabilities.&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-left: 8.5pt; text-indent: -8.5pt; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-right: 5.4pt; text-align: center; text-indent: 0in"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-right: 1.4pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-left: 8.5pt; text-indent: -8.5pt; text-align: left"&gt;Level 2&lt;/td&gt;
    &lt;td style="padding-right: 5.4pt; text-align: center; text-indent: 0in"&gt;-&lt;/td&gt;
    &lt;td style="padding-right: 1.4pt; text-align: justify; text-indent: 0in"&gt;inputs other than quoted prices included within Level 1 that
    are observable directly or indirectly.&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-left: 8.5pt; text-indent: -8.5pt; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-right: 5.4pt; text-align: center; text-indent: 0in"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-right: 1.4pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-left: 8.5pt; text-indent: -8.5pt; text-align: left"&gt;Level 3&lt;/td&gt;
    &lt;td style="padding-right: 5.4pt; text-align: center; text-indent: 0in"&gt;-&lt;/td&gt;
    &lt;td style="padding-right: 1.4pt; text-align: justify; text-indent: 0in"&gt;inputs that are not based on observable market data (valuation
    techniques which use inputs that are not based on observable market data).&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;All assets and liabilities
measured at fair value or for which fair value is disclosed are categorized into levels within the fair value hierarchy based on the
lowest level input that is significant to the entire fair value measurement:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;17)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Provisions:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;A provision in accordance with IAS 37 is recognized when the Company has a present (legal or constructive) obligation as a result of
a past event, it is expected to require the use of economic resources to clear the obligation and a reliable estimate has been made.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Following are the
types of provisions included in the financial statements:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;i.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Legal claims:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;A provision for claims is recognized
when the Company has a present legal or constructive obligation as a result of a past event, it is more likely than not that an outflow
of resources embodying economic benefits will be required by the Company to settle the obligation and a reliable estimate can be made
of the amount of the obligation.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;ii.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Contingent liability recognized in a business combination:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;A contingent liability in a business
combination is measured at fair value upon initial recognition. In subsequent periods, it is measured at the higher of the amount initially
recognized less, when appropriate, cumulative amortization, and the amount that would be recognized at the end of the reporting period
in accordance with IAS 37.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;18)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Employee benefits:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 74.7pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company maintains
several employee benefit plans:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;i.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Short-term employee benefits:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Short-term employee
benefits are benefits that are expected to be settled wholly before twelve months after the end of the annual reporting period in which
the employees render the related services. These benefits include salaries, paid annual leave, paid sick leave, recreation and social
security contributions and are recognized as expenses as the services are rendered. A liability in respect of a cash bonus or a profit-sharing
plan is recognized when the Company has a legal or constructive obligation to make such payment as a result of past service rendered
by an employee and a reliable estimate of the amount can be made.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;ii.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Post-employment benefits:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The plans are normally
financed by contributions to insurance companies and classified as defined contribution plans or as defined benefit plans.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Magic and its Israeli
subsidiaries (as defined with respect to their Israeli employee contribution plans pursuant to section 14 of Israel&#x2019;s Severance
Pay Law, 1963 (the &#x201c;Severance Pay Law&#x201d;)) pay fixed contributions to those plans and will have no legal or constructive obligation
to pay further contributions if the fund into which those contributions are paid does not hold sufficient amounts to pay all employee
benefits relating to employee service in the current and prior periods. Contributions to the defined contribution plan in respect of
severance or retirement pay are recognized as an expense when contributed concurrently with performance of the employee&#x2019;s services.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Magic and its Israeli
subsidiaries also operate a defined benefit plan in respect of severance or retirement pay to their Israeli employees pursuant to the
Severance Pay Law. According to the Severance Pay Law, employees are entitled to severance pay upon dismissal or retirement.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;In respect of its
severance pay obligation to certain of its employees, the Company makes current deposits in pension funds and insurance companies (the
&#x201c;plan assets&#x201d;). Plan assets comprise assets held by a long-term employee benefit fund or qualifying insurance policies. Plan
assets are not available to the Company&#x2019;s own creditors and cannot be returned directly to the Company.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The liability for
employee benefits shown in the statement of financial position reflects the present value of the defined benefit obligation, less the
fair value of the plan assets. Remeasurements of the net liability are recognized in other comprehensive income in the period in which
they occur.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company&#x2019;s net
obligation for other long-term employee benefits, which is computed based on actuarial assumptions, is for the future benefit due to
employees for services rendered in the current period and in prior periods and considering expected salary increases. The amount of these
benefits is discounted to its present value. The discount rate is determined by reference at the reporting date to market yields on high
quality corporate bonds that are linked to the Consumer Price Index and whose term is consistent with the term of the Company&#x2019;s obligation.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Remeasurement of
the net obligation is recognized to the statement of comprehensive income in the incurred period.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;19)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Share-based payment:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company&#x2019;s
senior management officers, are entitled to remuneration in the form of equity-settled share-based payment transactions. The cost of
equity-settled transactions with employees is measured at the fair value of the equity instruments granted at grant date. The fair value
is determined using an acceptable option pricing model.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The cost of equity-settled
transactions is recognized in profit or loss together with a corresponding increase in equity during the period which the performance
and/or service conditions are to be satisfied ending on the date on which the relevant employees become entitled to the award (&#x201c;the
vesting period&#x201d;). The cumulative expense recognized for equity-settled transactions at the end of each reporting period until the
vesting date reflects the extent to which the vesting period has expired and the Company&#x2019;s best estimate of the number of equity instruments
that will ultimately vest.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;No expense is recognized
for awards that do not ultimately vest, except for awards where vesting is conditional upon a market condition, which are treated as
vesting irrespective of whether the market condition is satisfied, provided that all other vesting conditions (service and/or performance)
are satisfied&lt;span style="font-family: Times New Roman, Times, Serif"&gt;.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company recognizes
compensation expenses for the value of its awards, which have graded vesting based on the accelerated method over the requisite service
period of each of the awards. The Company accounts for forfeitures as they occur.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;20)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Earnings per share:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Earnings per share
are calculated by dividing the net income attributable to equity holders of the Company by the weighted number of ordinary shares outstanding
during the period. Potential ordinary shares are included in the computation of diluted earnings per share when their conversion decreases
earnings per share from continuing operations. Potential ordinary shares that are converted during the period are included in diluted
earnings per share only until the conversion date and from that date in basic earnings per share. The Company&#x2019;s share of earnings of
subsidiaries is included based on its share of earnings per share of the subsidiaries multiplied by the number of shares held by the
Company.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;21)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Concentration of credit risk:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Financial instruments
that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, short-term bank
deposits, trade receivables and foreign currency derivative contracts.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The majority of the
Company&#x2019;s cash and cash equivalents, bank deposits and other financial instruments are invested with major banks in Israel, the United
States and across Europe. Management believes that these financial instruments are held in financial institutions with high credit standing,
and accordingly, minimal credit risk exists with respect to these investments. Cash and cash equivalents and short-term deposits in the
United States may be in excess of insured limits and are not insured in other jurisdictions. Generally, these banks deposits may be redeemed
upon demand and therefore bear minimal risk.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company&#x2019;s trade
receivables are generally derived from sales to large organizations located mainly in Israel, North America, Europe and Asia Pacific.
The Company performs ongoing credit evaluations of its customers using a reliable outside source to determine payment terms and credit
limits which are approved based on the size of the customer and to date has not experienced any material losses. In certain circumstances,
Magic and its subsidiaries may require letters of credit or other collateral or additional guarantees.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company maintains
an allowance for credit losses based upon management&#x2019;s experience and estimate of collectability of each outstanding invoice. The allowance
for credit losses is determined with respect to specific debts or which collection is doubtful. The risk of collection associated with
accounts receivable is mitigated by the diversity and number of customers.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;22)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Liquidity risk:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Liquidity risk arises
from managing the Company&#x2019;s working capital as well as from financial expenses and principal payments of the Company&#x2019;s debt instruments.
Liquidity risk consists of the risk that the Company will have difficulty in fulfilling obligations relating to financial liabilities.
The Company&#x2019;s policy is to ascertain constant cash adequacy needed for settling its liabilities when due. For this purpose, the Company
aims to hold cash balances (or adequate credit lines) that will meet anticipated demands.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Magic and its subsidiaries
examine cash flow forecasts on a monthly basis as well as information regarding cash balances. As of the reporting date, these forecasts
indicate that the Company can expect sufficient liquid sources for covering its entire liabilities under reasonable assumptions.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 48px"&gt;&#160;&lt;/td&gt; &lt;td style="width: 24px; font-size: 10pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;23)&lt;/span&gt;&lt;/td&gt; &lt;td style="text-align: justify; font-size: 10pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Reclassification of prior years presentation&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Certain prior year amounts have been
reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;24)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Disclosure of new standards in the period prior to their
adoption&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;a.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Amendment to IAS 1, &#x201c;Presentation of Financial Statements&#x201d;:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;In January 2020, the IASB issued
an amendment to IAS 1, &#x201c;Presentation of Financial Statements&#x201d; regarding the criteria for determining the classification of
liabilities as current or non-current (&#x201c;the Original Amendment&#x201d;). In October 2022, the IASB issued a subsequent amendment (&#x201c;the
Subsequent Amendment&#x201d;).&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;According to the Subsequent Amendment:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&#x25cf;&lt;/td&gt;&lt;td style="text-align: justify"&gt;Only covenants with which an entity must comply on or before
the reporting date will affect a liability&#x2019;s classification as current or non-current.&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&#x25cf;&lt;/td&gt;&lt;td style="text-align: justify"&gt;An entity should provide disclosure when a liability arising
from a loan agreement is classified as non-current and the entity&#x2019;s right to defer settlement is contingent on compliance with future
covenants within twelve months from the reporting date. This disclosure is required to include information about the covenants and the
related liabilities. The disclosures must include information about the nature of the future covenants and when compliance is applicable,
as well as the carrying amount of the related liabilities. The purpose of this information is to allow users to understand the nature
of the future covenants and to assess the risk that a liability classified as non-current could become repayable within twelve months.
Furthermore, if facts and circumstances indicate that an entity may have difficulty in complying with such covenants, those facts and
circumstances should be disclosed.&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;According to the Original Amendment,
the conversion option of a liability affects the classification of the entire liability as current or non-current unless the conversion
component is an equity instrument.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The Original Amendment and Subsequent
Amendment are both effective for annual periods beginning on or after January 1, 2024 and must be applied retrospectively. Early application
is permitted.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The Company estimates that the Amendments
are not expected to have a material impact on its financial statements.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in"&gt;b.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Amendment to IAS 8, &#x201c;Accounting Policies,
                                            Changes to Accounting Estimates and Errors&#x201d;:&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;In February 2021, the IASB issued
an amendment to IAS 8, &#x201c;Accounting Policies, Changes to Accounting Estimates and Errors&#x201d; (&#x201c;the Amendment&#x201d;), in which
it introduces a new definition of &#x201c;accounting estimates&#x201d;.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Accounting estimates are defined
as &#x201c;monetary amounts in financial statements that are subject to measurement uncertainty&#x201d;. The Amendment clarifies the distinction
between changes in accounting estimates and changes in accounting policies and the correction of errors.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The Amendment is to be applied prospectively
for annual reporting periods beginning on or after January 1, 2023 and is applicable to changes in accounting policies and changes in
accounting estimates that occur on or after the start of that period. Early application is permitted.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The Company estimates that the initial
application of the Amendment is not expected to have a material impact on its financial statements.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;c.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Amendment to IAS 12, &#x201c;Income Taxes&#x201d;:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;In May 2021, the IASB issued an amendment
to IAS 12, &#x201c;Income Taxes&#x201d; (&#x201c;IAS 12&#x201d;), which narrows the scope of the initial recognition exception under IAS 12.15
and IAS 12.24 (&#x201c;the Amendment&#x201d;).&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;According to the recognition guidelines
of deferred tax assets and liabilities, IAS 12 excludes recognition of deferred tax assets and liabilities in respect of certain temporary
differences arising from the initial recognition of certain transactions. This exception is referred to as the &#x201c;initial recognition
exception&#x201d;. The Amendment narrows the scope of the initial recognition exception and clarifies that it does not apply to the recognition
of deferred tax assets and liabilities arising from transactions that are not a business combination and that give rise to equal taxable
and deductible temporary differences, even if they meet the other criteria of the initial recognition exception.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The Amendment applies for annual
reporting periods beginning on or after January 1, 2023, with earlier application permitted. In relation to leases and decommissioning
obligations, the Amendment is to be applied commencing from the earliest reporting period presented in the financial statements in which
the Amendment is initially applied. The cumulative effect of the initial application of the Amendment should be recognized as an adjustment
to the opening balance of retained earnings (or another component of equity, as appropriate) at that date.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The Company estimates that the initial
application of the Amendment is not expected to have a material impact on its financial statements.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;d.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Amendment to IAS 1 - Disclosure of Accounting Policies:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;In February 2021, the IASB issued
an amendment to IAS 1, &#x201c;Presentation of Financial Statements&#x201d; (&#x201c;the Amendment&#x201d;), which replaces the requirement to
disclose &#x2018;significant&#x2019; accounting policies with a requirement to disclose &#x2018;material&#x2019; accounting policies. One of the main reasons for
the Amendment is the absence of a definition of the term &#x2018;significant&#x2019; in IFRS whereas the term &#x2018;material&#x2019; is defined in several standards
and particularly in IAS&#160;1.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The Amendment is applicable for annual
periods beginning on or after January 1, 2023. Early application is permitted.&lt;/p&gt;</ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory>
    <ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;1)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Basis of presentation of the financial statements&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;These financial statements have been prepared in accordance with International Financial Reporting Standards as issued by the International
Accounting Standards Board (&#x201c;IFRS&#x201d;).&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.2pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The financial statements
for the year ended December 31, 2021 were the Company&#x2019;s first consolidated financial statements prepared in accordance with IFRS.
The date of transition to IFRS was January 1, 2021. For all periods up to and including the year ended December 31, 2021, the Company
prepared its financial statements in accordance with United States generally accepted accounting principles (&#x201c;U.S. GAAP&#x201d;).
Accordingly, the Company&#x2019;s first consolidated financial statements that comply with IFRS are applicable as of December 31, 2022,
together with the comparative period data for the year ended December 31, 2021 (See also Note 22 to our consolidated financial statements).&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Measurement basis:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company&#x2019;s
consolidated financial statements are prepared on a cost basis, except for financial assets measured at fair value through other comprehensive
income (&#x201c;OCI&#x201d;), employee benefit assets and liabilities, and financial assets and liabilities which are presented at fair
value through profit or loss. (See Note 6).&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company has elected
to present the profit or loss items using the function of expense method.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;</ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory>
    <mgic:DescriptionOfUseOfEstimatesJudgmentAndAssumptionTextBlock contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in"&gt;2)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Use of estimates, judgments and assumptions:&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The preparation of
the consolidated financial statements requires management to make estimates, judgments, and assumptions, that have an effect on the application
of the accounting policies and on the reported amounts of assets, liabilities, revenues and expenses in the financial statements. Such
judgments, estimates and assumptions are related, but not limited to liabilities in respect of business combinations, goodwill and intangible
assets and their subsequent impairment analysis, determination of fair value of put options of non-controlling interests, legal contingencies,
research and development capitalization as well as amortization periods, classification of leases as well as the determination of the
lease term and the incremental borrowing rate, income tax uncertainties, deferred taxes, share-based compensation, as well as the determination
of revenue recognition from contracts accounted for based on the estimate of percentage of completion, identification of performance
obligations and the determination of the transaction price as well as the standalone selling prices, and evaluating expected credit losses
(&#x201c;ECL&#x201d;). The Company&#x2019;s management believes that the estimates, judgments, and assumptions used, are reasonable based
upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets
and liabilities and disclosure of contingent assets and liabilities at the dates of the consolidated financial statements, and the reported
amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Changes in accounting
estimates are reported in the period of the change in estimate.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;</mgic:DescriptionOfUseOfEstimatesJudgmentAndAssumptionTextBlock>
    <mgic:DescriptionOfConsolidatedFinancialStatementTextBlock contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;3)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Consolidated financial statements:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The consolidated
financial statements comprise the financial statements of companies that are controlled by the Company (subsidiaries). Control is achieved
when the Company is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect
those returns through its power over the investee. Potential voting rights are considered when assessing whether an entity has control.
The consolidation of the financial statements commences on the date on which control is obtained and ends when such control ceases.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The financial statements
of the Company and of the subsidiaries are prepared for the same reporting period and using consistent accounting treatment of similar
transactions and economic activities. Significant intragroup balances and transactions and gains or losses resulting from intragroup
transactions are eliminated in full in the consolidated financial statements.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;</mgic:DescriptionOfConsolidatedFinancialStatementTextBlock>
    <ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;4)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Non-controlling interests&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Non-controlling interests
in subsidiaries, represent the equity in subsidiaries not attributable, directly or indirectly, to a parent. Non-controlling interests
are presented in equity separately from the equity attributable to the equity holders of the Company. Profit or loss and components of
other comprehensive income are attributed to the Company and to non-controlling interests. Losses are attributed to non-controlling interests
even if they result in a negative balance of non-controlling interests in the consolidated statement of financial position. A change
in the ownership interest of a subsidiary, without a loss of control, is accounted for as a change in equity by adjusting the carrying
amount of the non-controlling interests with a corresponding adjustment of the equity attributable to equity holders of the Company less
/ plus the consideration paid or received.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory>
    <ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;5)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Business combinations and goodwill:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.2pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Business combinations are accounted
for by applying the acquisition method. The cost of the acquisition is measured at the fair value of the consideration transferred on
the acquisition date with the addition of non-controlling interests in the acquiree. In each business combination, the Company chooses
whether to measure the non-controlling interests in the acquiree based on their fair value on the acquisition date or at their proportionate
share in the fair value of the acquiree&#x2019;s net identifiable assets.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; margin: 0pt 0pt 0pt 0.65in; text-align: left"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Direct acquisition costs are carried
to the statement of profit or loss as incurred.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.65in; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;In a business combination achieved
in stages, equity interests in the acquiree that had been held by the acquirer prior to obtaining control are measured at the acquisition
date fair value while recognizing a gain or loss resulting from the revaluation of the prior investment on the date of achieving control.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;A put option granted by the Group
to non-controlling interests is accounted for using the expected purchase approach under the presumption that the put option will be
exercised, and therefore the parent effectively holds an interest in the subsidiary&#x2019;s shares as if the put option had been exercised.
A put option granted by the Group to non-controlling interests for which the consideration to be paid in cash or other financial asset
is recognized as a liability in the amount of the present value of the option&#x2019;s exercise price.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 85.05pt 0pt 0; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Contingent consideration is recognized
at fair value on the acquisition date and classified as a financial asset or liability in accordance with IFRS 9. Subsequent changes
in the fair value of the contingent consideration are recognized in profit or loss.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 85.05pt 0pt 0; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Goodwill is initially measured at
cost which represents the excess of the acquisition consideration and the amount of non-controlling interests over the net identifiable
assets acquired and liabilities assumed. If the resulting amount is negative, the acquirer recognizes the resulting gain on the acquisition
date.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory>
    <ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="text-align: justify; width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: justify"&gt;6)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Functional currency, presentation currency and foreign currency:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="text-align: justify; width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: justify"&gt;i.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Functional currency and presentation currency:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The presentation currency of these
financial statements is the U.S dollars (the &#x201c;dollar&#x201d;), since the Company believes that financial statements in U.S dollars
provide more relevant information to its investors and users of the financial statements. Also, the dollar is the currency of the primary
economic environment in which the Company and certain subsidiaries operate. Thus, the functional and reporting currency of the Company
and certain subsidiaries is the dollar.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Assets, including fair value adjustments
upon acquisition, and liabilities of an investee which is a foreign operation, are translated at the closing rate at each reporting date.
Profit or loss items are translated at average exchange rates for all periods presented. The resulting translation differences are recognized
in other comprehensive income (loss).&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Intragroup loans for which settlement
is neither planned nor likely to occur in the foreseeable future are, in substance, a part of the investment in the foreign operation
and, accordingly, the exchange rate differences from these loans (net of the tax effect) are recorded in other comprehensive income (loss).&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="text-align: justify; width: 0.75in"/&gt;&lt;td style="text-align: justify; width: 0.25in"&gt;ii.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Transactions, assets and liabilities in
                                            foreign currency:&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Transactions denominated in foreign
currency are recorded upon initial recognition at the exchange rate at the date of the transaction. After initial recognition, monetary
assets and liabilities denominated in foreign currency are translated at each reporting date into the functional currency at the exchange
rate at that date. Exchange rate differences are recognized in profit or loss. Non-monetary assets and liabilities denominated in foreign
currency and measured at cost are translated at the exchange rate at the date of the transaction. Non-monetary assets and liabilities
denominated in foreign currency and measured at fair value are translated into the functional currency using the exchange rate prevailing
at the date when the fair value was determined.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory>
    <ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;7)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Cash equivalents:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.2pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Cash equivalents are considered short-term
highly liquid investments, that are readily convertible to cash with original maturities of three months or less, at acquisition. Cash
and cash equivalents include amounts held primarily in NIS, dollar, Euro, Japanese Yen and British Pound.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents>
    <mgic:DescriptionOfShortTermBankDepositsTextBlock contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;8)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Short-term bank deposits:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Short-term bank deposits
are deposits with an original maturity of more than three months from the date of investment and which do not meet the definition of
cash equivalents. The deposits are presented at a cost (including accrued interest) which approximates their fair value. Restricted deposits
include deposits used to secure certain subsidiaries&#x2019; ongoing projects, as well as security deposits with respect to leases, and are
classified under other short-term and long-term receivables.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;As of January 1,
2021, December 31, 2021 and 2022, the Company&#x2019;s bank deposits are mainly denominated in U.S. dollars and bear yearly interest rates of
mainly&#160;0.27%, 0.27% and&#160;3.54%, respectively.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;</mgic:DescriptionOfShortTermBankDepositsTextBlock>
    <mgic:InterestRate contextRef="c3" decimals="4" unitRef="pure">0.0027</mgic:InterestRate>
    <mgic:InterestRate contextRef="c4" decimals="4" unitRef="pure">0.0027</mgic:InterestRate>
    <mgic:InterestRate contextRef="c2" decimals="4" unitRef="pure">0.0354</mgic:InterestRate>
    <ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;9)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Revenue recognition:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Revenues are recognized when control
of the promised goods or services are transferred to the customers, in an amount that reflects the consideration that the company expects
to receive in exchange for those goods or services.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The Company determines revenue recognition
through the following steps:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&#x25cf;&lt;/td&gt;&lt;td style="text-align: justify"&gt;identification of the contract with a customer;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&#x25cf;&lt;/td&gt;&lt;td style="text-align: justify"&gt;identification of the performance obligations in the contract;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&#x25cf;&lt;/td&gt;&lt;td style="text-align: justify"&gt;determination of the transaction price;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&#x25cf;&lt;/td&gt;&lt;td style="text-align: justify"&gt;allocation of the transaction price to the performance obligations
in the contract; and&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&#x25cf;&lt;/td&gt;&lt;td style="text-align: justify"&gt;recognition of revenue when, or as, the Company satisfies
a performance obligation.&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The Company enters into contracts that
can include various combinations of products, software and professional services, as detailed below, which are generally distinct from
each other and accounted for as separate performance obligations.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The Company derives its revenues from
licensing the rights to use its software (proprietary and non-proprietary), provision of related professional services, maintenance and
technical support as well as from other software and IT professional services (either fixed price or based on time and materials). The
Company sells its products primarily through direct sales force and indirectly through distributors and value added resellers.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify"&gt;Under IFRS 15, an entity recognizes
revenue when or as it satisfies a performance obligation by transferring software license or software related services to the customer,
either at a point in time or over time. When the Company enters into a contract for the sale of software license which does not require
significant implementation services, and the customer receives the rights to use the perpetual or term-based software license, the Company
recognizes revenue from the sale of the software license at the time of delivery, when the customer receives control of the software
license. The software license is considered a distinct performance obligation recognized at a point-in-time, as the customer can benefit
from the software on its own or together with other readily available resources. Revenue from long term contracts which involve significant
implementation, customization, or integration of the Company&#x2019;s software license to customer-specific requirements are considered
as one performance obligation satisfied over-time. The underlying deliverable is owned and controlled by the customer and does not create
an asset with an alternative use to the Company. The Company recognizes revenue of such contracts over time using cost inputs, which
recognize revenue and gross profit as work is performed based on a ratio between actual costs incurred compared to the total estimated
costs for the contract, to measure progress toward completion of its performance obligations. Provisions for estimated losses on uncompleted
contracts are made in the period in which such losses are first determined, in the amount of the estimated loss for the entire contract.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify"&gt;In addition, the
Company provides professional services that do not involve significant customization to customer-specific specifications (typically staffing
or consulting services). The revenue is recognized as the services are performed, either on a straight-line basis or based on the hours
of services that were provided to the customer, in accordance with the terms of the contracts.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: 0pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify"&gt;The Company&#x2019;s
revenues from post contract support are derived from annual maintenance contracts providing for unspecified upgrades for new versions
and enhancements on a when-and-if-available basis for an annual fee, as well as technical support for software licenses previously sold.
The right for an unspecified upgrade for new versions and enhancements on a when-and-if-available basis do not specify the features,
functionality and release date of future product enhancements for the customer to know what will be made available and the general timeframe
in which it will be delivered. The Company considers the post contract support performance obligation as a distinct performance obligation
that is satisfied over time, and recognized on a straight-line basis over the contractual period.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: 0pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify"&gt;Revenue from professional
services, both related to software and IT professional services businesses consists of either fixed price or time and materials, and
are considered performance obligations that are satisfied over time, and revenues are recognized as the services are provided.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: 0pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify"&gt;The transaction price
is allocated to the separate performance obligations on a relative standalone selling price basis. Stand-alone selling prices of software
licenses are typically estimated using the residual approach. Stand-alone selling prices of services are typically estimated based on
observable transactions when these services are sold on a standalone basis.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify; text-indent: 0pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify"&gt;When another party
is involved in providing goods or services to the customer, the Company examines whether the nature of its promise is a performance obligation
to provide the defined goods or services itself, which means the Company is a principal and therefore recognizes revenue in the gross
amount of the consideration, or to arrange that another party provide the goods or services which means the Company is an agent and therefore
recognizes revenue in the amount of the net commission.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The Company is a
principal when it controls the promised goods or services before their transfer to the customer. Indicators that the Company controls
the goods or services before their transfer to the customer include, inter alia, as follows: the Company is responsible for fulfilling
the promises in the contract; the Company has inventory risk before the goods or services are transferred to the customer; and the Company
has discretion in setting the prices of the goods or services.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Revenue from third-party
sales is recorded at a gross or net amount according to certain indicators. The application of these indicators for gross and net reporting
of revenue depends on the relative facts and circumstances of each sale.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The Company pays
commissions to sales and marketing and certain management personnel based on their attainment of certain predetermined sales or profit
goals. The Company expenses sales commissions as they are incurred when the amortization period would have been less than one year. In
addition, generally, sales commissions which are paid upon contract renewal are commensurate with the initial commissions as the renewal
amounts are substantially identical to the initial commission costs. During the years ended December 31, 2022 and 2021, no costs have
been capitalized.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The Company does
not assess whether a contract has a significant financing component if the expectation at contract inception is such that the period
between payment by the customer and the transfer of the promised goods or services to the customer will be one year or less.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue>
    <ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;10)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Income tax:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Current or deferred
taxes are recognized in profit or loss, except to the extent that they relate to items which are recognized in other comprehensive income
or equity.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&#x25cf;&lt;/td&gt;&lt;td style="text-align: justify"&gt;Current taxes:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;The current tax
liability is measured using the tax rates and tax laws that have been enacted or substantively enacted by the reporting date as well
as adjustments required in connection with the tax liability in respect of previous years.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&#x25cf;&lt;/td&gt;&lt;td style="text-align: justify"&gt;Deferred taxes:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.95pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;Deferred taxes
are computed in respect of temporary differences between the carrying amounts in the financial statements and the amounts attributed
for tax purposes. Deferred taxes are measured at the tax rate that is expected to apply when the asset is realized or the liability is
settled, based on tax laws that have been enacted or substantively enacted by the reporting date. Deferred tax assets are reviewed at
each reporting date and reduced to the extent that it is not probable that they will be utilized. Deductible carryforward losses and
temporary differences for which deferred tax assets had not been recognized are reviewed at each reporting date and a respective deferred
tax asset is recognized to the extent that their utilization is probable.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.95pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Taxes that would
apply in the event of the disposal of investments in investees have not been considered in computing deferred taxes, as long as the disposal
of the investments in investees is not probable in the foreseeable future. Also, deferred taxes that would apply in the event of distribution
of earnings by investees as dividends have not been considered in computing deferred taxes, since the distribution of dividends does
not involve an additional tax liability or since it is the Company&#x2019;s policy not to initiate distribution of dividends from a subsidiary
that would trigger an additional tax liability.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 46.5pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Taxes on income
that relate to distributions of an equity instrument and to transaction costs of an equity transaction are accounted for pursuant to
IAS 12.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Deferred taxes are
offset if there is a legally enforceable right to offset a current tax asset against a current tax liability and the deferred taxes relate
to the same taxpayer and the same taxation authority.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 46.5pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in"&gt;&#x25cf;&lt;/td&gt;&lt;td style="text-align: justify"&gt;Uncertain
                                            tax position:&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;A provision for
uncertain tax positions, including additional tax and interest expenses, is recognized when it is more likely than not that the Company
will have to use its economic resources to pay the obligation.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 46.5pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory>
    <ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;11)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Leases:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company accounts
for a contract as a lease when the contract terms convey the right to control the use of an identified asset for a period of time in
exchange for consideration.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;i)&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;&lt;span style="text-decoration:underline"&gt;The Company as lessee&lt;/span&gt;:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;For leases in which
the Company is the lessee, the Company recognizes on the commencement date of the lease a right-of-use asset and a lease liability, excluding
leases whose term is up to twelve months and leases for which the underlying asset is of low value. For these excluded leases, the Company
has elected to recognize the lease payments as an expense in profit or loss on a straight-line basis over the lease term. In measuring
the lease liability, the Company has elected to apply the practical expedient in the Standard and does not separate the lease components
from the non-lease components (such as management and maintenance services, etc.) included in a single contract.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;Leases which entitle
employees to a company car as part of their employment terms are accounted for as employee benefits in accordance with the provisions
of IAS 19 and not as subleases.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;On the commencement
date, the lease liability includes all unpaid lease payments discounted at the interest rate implicit in the lease, if that rate can
be readily determined, or otherwise using the Company&#x2019;s incremental borrowing rate. After the commencement date, the Company measures
the lease liability using the effective interest rate method.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;On the commencement
date, the right-of-use asset is recognized in an amount equal to the lease liability plus lease payments already made on or before the
commencement date and initial direct costs incurred. The right-of-use asset is measured applying the cost model and depreciated over
the shorter of its useful life and the lease term.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;Following are the
amortization periods of the right-of-use assets by class of underlying asset:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Years&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Mainly&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left; text-indent: -7.1pt; padding-left: 7.15pt"&gt;Land and buildings&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: center"&gt;1&#x2013;11&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: center"&gt;3&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; text-indent: -7.1pt; padding-left: 7.15pt"&gt;Motor vehicles&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center"&gt;1&#x2013;5&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center"&gt;3&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;The Company tests
for impairment of the right-of-use asset whenever there are indications of impairment pursuant to the provisions of IAS 36.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;ii)&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Variable lease payments that depend on an index:&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;On the commencement
date, the Company uses the index rate prevailing on the commencement date to calculate the future lease payments.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;For leases in which
the Company is the lessee, the aggregate changes in future lease payments resulting from a change in the index are discounted (without
a change in the discount rate applicable to the lease liability) and recorded as an adjustment of the lease liability and the right-of-use
asset, only when there is a change in the cash flows resulting from the change in the index (that is, when the adjustment to the lease
payments takes effect).&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;iii)&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Lease extension and termination options&lt;/span&gt;:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;A non-cancelable lease
term includes both the periods covered by an option to extend the lease when it is reasonably certain that the extension option will
be exercised and the periods covered by a lease termination option when it is reasonably certain that the termination option will not
be exercised.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;In the event of any
change in the expected exercise of the lease extension option or in the expected non-exercise of the lease termination option, the Company
remeasures the lease liability based on the revised lease term using a revised discount rate as of the date of the change in expectations.
The total change is recognized in the carrying amount of the right-of-use asset until it is reduced to zero, and any further reductions
are recognized in profit or loss.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;iv)&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Lease modifications&lt;/span&gt;:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;If a lease modification
does not reduce the scope of the lease and does not result in a separate lease, the Company remeasures the lease liability based on the
modified lease terms using a revised discount rate as of the modification date and records the change in the lease liability as an adjustment
to the right-of-use asset.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 135.75pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;If a lease modification
reduces the scope of the lease, the Company recognizes a gain or loss arising from the partial or full reduction of the carrying amount
of the right-of-use asset and the lease liability. The Company subsequently remeasures the carrying amount of the lease liability according
to the revised lease terms, at the revised discount rate as of the modification date and records the change in the lease liability as
an adjustment to the right-of-use asset.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory>
    <ifrs-full:DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Years&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Mainly&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left; text-indent: -7.1pt; padding-left: 7.15pt"&gt;Land and buildings&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: center"&gt;1&#x2013;11&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: center"&gt;3&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; text-indent: -7.1pt; padding-left: 7.15pt"&gt;Motor vehicles&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center"&gt;1&#x2013;5&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center"&gt;3&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;</ifrs-full:DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory>
    <mgic:RightUseOfAsset contextRef="c34">P1Y</mgic:RightUseOfAsset>
    <mgic:RightUseOfAsset contextRef="c35">P11Y</mgic:RightUseOfAsset>
    <mgic:RightUseOfAsset contextRef="c36">P3Y</mgic:RightUseOfAsset>
    <mgic:RightUseOfAsset contextRef="c37">P1Y</mgic:RightUseOfAsset>
    <mgic:RightUseOfAsset contextRef="c38">P5Y</mgic:RightUseOfAsset>
    <mgic:RightUseOfAsset contextRef="c39">P3Y</mgic:RightUseOfAsset>
    <ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;12)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Property, plant and equipment, net:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.2pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Property, plant and equipment
are measured at cost, including directly attributable costs, less accumulated depreciation. Cost includes spare parts and auxiliary
equipment that are used in connection with plant and equipment. The cost of an item of property, plant and equipment comprises the
initial estimate of the costs of dismantling and removing the item and restoring the site on which the item is located.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Depreciation is calculated
on a straight-line basis over the estimated useful life of the assets at annual rates as follows:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;b&gt;Years&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 85%; text-align: justify"&gt;Software&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="width: 12%; text-align: center"&gt;3&#x2013;5 (mainly 5)&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;Computers and peripheral equipment&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center"&gt;3&#x2013;5&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;Office furniture and equipment&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center"&gt;7&#x2013;15 (mainly 7)&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;Motor vehicles&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center"&gt;7&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Leasehold improvements
are amortized using the straight-line method over the term of the lease (including option terms that are deemed to be reasonably assured)
or the estimated useful life of the improvements, whichever is shorter.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The useful life,
the depreciation method and the residual value of an asset are reviewed at least each year-end (at the end of the year) and any changes
are accounted for prospectively as a change in accounting estimate. Depreciation of an asset ceases at the earlier of the date that the
asset is classified as held for sale and the date that the asset is derecognized.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory>
    <mgic:ScheduleOfAnnualRatesOfDepreciationTextBlock contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;b&gt;Years&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 85%; text-align: justify"&gt;Software&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="width: 12%; text-align: center"&gt;3&#x2013;5 (mainly 5)&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;Computers and peripheral equipment&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center"&gt;3&#x2013;5&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;Office furniture and equipment&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center"&gt;7&#x2013;15 (mainly 7)&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;Motor vehicles&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center"&gt;7&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;</mgic:ScheduleOfAnnualRatesOfDepreciationTextBlock>
    <mgic:EstimatedUsefulLifeOfAsset contextRef="c40">3&#x2013;5 (mainly 5)</mgic:EstimatedUsefulLifeOfAsset>
    <mgic:EstimatedUsefulLifeOfAsset contextRef="c41">3&#x2013;5</mgic:EstimatedUsefulLifeOfAsset>
    <mgic:EstimatedUsefulLifeOfAsset contextRef="c42">7&#x2013;15 (mainly 7)</mgic:EstimatedUsefulLifeOfAsset>
    <mgic:EstimatedUsefulLifeOfAsset contextRef="c43">7</mgic:EstimatedUsefulLifeOfAsset>
    <ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;13)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Intangible assets:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.2pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Separately acquired
intangible assets are measured on initial recognition at cost, including directly attributable costs. Intangible assets acquired in a
business combination are measured at fair value at the acquisition date. Expenditures relating to internally generated intangible assets,
excluding capitalized development costs, are recognized in profit or loss when incurred.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Intangible assets
with a finite useful life are amortized over their useful life and reviewed for impairment whenever there is an indication that the asset
may be impaired. The amortization period and the amortization method for an intangible asset are reviewed at least at each year end.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;&lt;span style="text-decoration:underline"&gt;Research and development
expenditures&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Research expenditures
incurred in the process of software development are recognized in profit or loss when incurred. An intangible asset arising from a software
development project or from the development phase of an internal project is recognized if the Company can demonstrate the technical feasibility
of completing the intangible asset so that it will be available for use or sale; the Company&#x2019;s intention to complete the intangible
asset and use or sell it; the ability to use or sell the intangible asset; how the intangible asset will generate future economic benefits;
the availability of adequate technical, financial and other resources to complete the intangible asset; and the ability to measure reliably
the respective expenditure asset during its development. The Company establishes technological feasibility upon completion of a detailed
program design or a working model.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Capitalized software
costs are measured at cost less any accumulated amortization and any accumulated impairment losses on a product-by-product basis. Amortization
of capitalized software costs begin when development is complete, and the product is available for use or for sale. The Company considers
a product to be available for use when the Company completes its internal validation of the product that is necessary to establish that
the product meets its design specifications including functions, features, and technical performance requirements. Internal validation
includes the completion of coding, documentation and testing that ensure bugs are reduced to a minimum. The internal validation of the
product takes place a few weeks before the product is made available to the market. In certain instances, the Company enters into a short
pre-release stage, during which the product is made available to a selected number of customers as a beta program for their own review
and familiarization. Subsequently, the release is made generally available to customers. Once a product is considered available for use,
the capitalization of costs ceases and amortization of such costs to &#x201c;cost of sales&#x201d; begins.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Capitalized software
costs are amortized on a product-by-product basis by the straight-line method over the estimated useful life of the software product
(between 5-7 years).&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Research and development
costs incurred in the process of developing product enhancements are generally charged to expenses as incurred.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company assesses
the recoverability of its capitalized software costs on a regular basis by assessing the net realizable value of these intangible assets
based on the estimated future gross revenues from each product reduced by the estimated future costs of completing and disposing of it,
including the estimated costs of performing maintenance and customer support over its remaining economical useful life using internally
generated projections of future revenues generated by the products, cost of completion of products and cost of delivery to customers
over its remaining economical useful life.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;&lt;span style="text-decoration:underline"&gt;Other intangible
assets&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Intangible assets
excluding capitalized development costs are comprised mainly of customer-related intangible assets, backlogs, acquired technology and
patent, and are amortized over their useful lives using a method of amortization that reflects the pattern in which the economic benefits
of the intangible assets are consumed or otherwise used up. The useful life of intangible assets is as follows:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: center; padding-left: 0pt"&gt;Years&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 84%; text-align: justify; padding-left: 0pt"&gt;Customer relationships&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 15%; text-align: center; padding-left: 0pt"&gt;Up to 15&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-left: 0pt"&gt;Acquired technology&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 0pt"&gt;Up to 10 (mainly 5)&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Gains or losses arising
from the derecognition of an intangible asset are determined as the difference between the net disposal proceeds and the carrying amount
of the asset and are recognized in profit or loss.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The useful life of
these assets is reviewed annually to determine whether their indefinite life assessment continues to be supportable. If the events and
circumstances do not continue to support the assessment, the change in the useful life assessment from indefinite to finite is accounted
for prospectively as a change in accounting estimate, and on that date the asset is tested for impairment. Commencing from that date,
the asset is amortized systematically over its useful life.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory>
    <mgic:EstimatedUsefulLives contextRef="c32">P5Y</mgic:EstimatedUsefulLives>
    <mgic:EstimatedUsefulLives contextRef="c33">P7Y</mgic:EstimatedUsefulLives>
    <mgic:DescriptionOfAdvertisingExpensesTextBlock contextRef="c0">development
costs incurred in the process of developing product enhancements are generally charged to expenses as incurred.</mgic:DescriptionOfAdvertisingExpensesTextBlock>
    <ifrs-full:DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: center; padding-left: 0pt"&gt;Years&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 84%; text-align: justify; padding-left: 0pt"&gt;Customer relationships&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 15%; text-align: center; padding-left: 0pt"&gt;Up to 15&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-left: 0pt"&gt;Acquired technology&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-left: 0pt"&gt;Up to 10 (mainly 5)&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;</ifrs-full:DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory>
    <ifrs-full:DescriptionAndCarryingAmountOfIntangibleAssetsWithIndefiniteUsefulLife contextRef="c44">Up to 15</ifrs-full:DescriptionAndCarryingAmountOfIntangibleAssetsWithIndefiniteUsefulLife>
    <ifrs-full:DescriptionAndCarryingAmountOfIntangibleAssetsWithIndefiniteUsefulLife contextRef="c45">Up to 10 (mainly 5)</ifrs-full:DescriptionAndCarryingAmountOfIntangibleAssetsWithIndefiniteUsefulLife>
    <ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;14)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Impairment of non-financial assets:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company evaluates
the need to record an impairment of non-financial assets (property, plant and equipment, capitalized software costs and other intangible
assets, goodwill) whenever events or changes in circumstances indicate that the carrying amount is not recoverable. If the carrying amount
of non-financial assets exceeds their recoverable amount, the assets are reduced to their recoverable amount. The recoverable amount
is the higher of fair value less costs of sale and value in use. In measuring value in use, the expected future cash flows are discounted
using a pre-tax discount rate that reflects the risks specific to the asset. The recoverable amount of an asset that does not generate
independent cash flows is determined for the cash-generating unit to which the asset belongs. Impairment losses are recognized in profit
or loss.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;An impairment loss
of an asset, other than goodwill, is reversed only if there have been changes in the estimates used to determine the asset&#x2019;s recoverable
amount since the last impairment loss was recognized. Reversal of an impairment loss, as above, shall not be increased above the lower
of the carrying amount that would have been determined (net of depreciation or amortization) had no impairment loss been
recognized for the asset in prior years and its recoverable amount. The reversal of impairment loss of an asset presented at cost is
recognized in profit or loss.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;For the purpose of
impairment testing, goodwill acquired in a business combination is allocated, at the acquisition date, to each of our cash-generating
units that are expected to benefit from the synergies of the combination. The Company reviews goodwill for impairment once a year, on
December 31, or more frequently if events or changes in circumstances indicate that there is an impairment.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Goodwill is tested
for impairment by assessing the recoverable amount of the cash-generating unit (or group of cash-generating units) to which the goodwill
has been allocated. An impairment loss is recognized if the recoverable amount of the cash-generating unit (or group of cash-generating
units) to which goodwill has been allocated is less than the carrying amount of the cash-generating unit (or group of cash-generating
units). Any impairment loss is allocated first to goodwill. Impairment losses recognized for goodwill cannot be reversed in subsequent
periods.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;During the years
ended December 31, 2021 and 2022, no impairment loss was identified.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory>
    <ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;15)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Financial instruments:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The accounting policy for financial instruments
in accordance with IFRS 9, &#x201c;Financial Instruments&#x201d; (&#x201c;the Standard&#x201d;) is as follows:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;1.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Financial assets&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Financial assets
are measured upon initial recognition at fair value plus transaction costs that are directly attributable to the acquisition of the financial
assets, except for financial assets measured at fair value through profit or loss in respect of which transaction costs are recorded
in profit or loss.\&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company classifies
and measures debt instruments in the financial statements based on the following criteria:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;-&lt;/td&gt;&lt;td style="text-align: justify"&gt;The Company&#x2019;s business model for managing financial
assets, and;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;-&lt;/td&gt;&lt;td style="text-align: justify"&gt;The contractual cash flow terms of the financial asset.&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: left"&gt;Impairment of financial assets:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company evaluates
at the end of each reporting period the loss allowance for financial debt instruments which are not measured at fair value through profit
or loss.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company has short-term
financial assets such as trade receivables in respect of which the Company applies a simplified approach and measures the loss allowance
in an amount equal to the lifetime expected credit losses.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;An impairment loss
on debt instruments measured at amortized cost is recognized in profit or loss with a corresponding loss allowance that is offset from
the carrying amount of the financial asset.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company has
short-term financial assets such as trade receivables in respect of which the Company applies a simplified approach in IFRS 9 and measures
the loss allowance in an amount equal to the lifetime expected credit losses. Trade receivables include original invoiced amounts less
an allowance for any potential uncollectible amounts and less invoiced amounts from maintenance and professional services contracts which
haven&#x2019;t been recognized yet&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;. &lt;/span&gt;&lt;span style="font-size: 10pt"&gt;The
Company makes estimates of expected credit losses for the allowance for doubtful accounts based upon its assessment of various factors,
including historical experience, the age of the trade receivable balances, credit quality of its customers, current economic conditions,
reasonable and supportable forecasts of future economic conditions, and other factors that may affect its ability to collect from customers.
The estimated credit loss allowance is recorded as general and administrative expenses on the Company&#x2019;s consolidated statements of profit
or loss. Such allowance charge amounted of $ 892 and $ 1,778, respectively for the years ended December 31, 2021 and 2022.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;2.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Financial liabilities&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 141.75pt; text-align: justify; text-indent: -0.5in"/&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;a)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Financial liabilities measured at amortized cost:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;Financial liabilities
are initially recognized at fair value less transaction costs that are directly attributable to the issue of the financial liability.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;After initial recognition,
the Company measures all financial liabilities at amortized cost using the effective interest rate method, except for financial liabilities
at fair value through profit or loss.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;b)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Financial liabilities measured at fair value through profit
or loss:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;At initial recognition,
the Company measures financial liabilities that are not measured at amortized cost at fair value. Transaction costs are recognized in
profit or loss.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;After initial recognition,
changes in fair value are recognized in profit or loss, except for put option granted to non-controlling interests.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;Put option granted
to non-controlling interests:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.2pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;When the Company
grants to non-controlling interests a put option to sell part or all of their interests in a subsidiary, during a certain period, even
if such purchase obligation is conditional on the counterparty&#x2019;s exercise of its contractual right to cause such redemption, if
the put option agreement does not transfer to the Company any benefits incidental to ownership of the equity instrument (i.e. the Company
does not have a present ownership in the shares concerned) then at the end of each reporting period the non-controlling interests (to
which a portion of net profit attributable to non-controlling interests is allocated) are classified as a financial liability, as if
such put-able equity instrument was redeemed on that date. The difference between the non-controlling interests carrying amount at the
end of the reporting period and the present value of the liability is recognized directly in equity of the Company, under &#x201c;Additional
paid-in capital&#x201d;.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;The Company remeasures
the financial liability at the end of each reporting period based on the estimated present value of the consideration to be transferred
upon the exercise of the put option.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;If the option is
exercised in subsequent periods, the consideration paid upon exercise is treated as settlement of the liability. If the put option expires,
the liability is settled and a portion of the investment in the subsidiary disposed of, without loss of control therein.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory>
    <ifrs-full:AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets contextRef="c5" decimals="0" unitRef="usd">892</ifrs-full:AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets>
    <ifrs-full:AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets contextRef="c0" decimals="0" unitRef="usd">1778</ifrs-full:AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets>
    <ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;16)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Fair value measurement:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Fair value is the
price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at
the measurement date. Fair value measurement is based on the assumption that the transaction will take place in the asset&#x2019;s or the liability&#x2019;s
principal market, or in the absence of a principal market, in the most advantageous market.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The fair value of
an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming
that market participants act in their economic best interest. Fair value measurement of a non-financial asset takes into account a market
participant&#x2019;s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market
participant that would use the asset in its highest and best use. The Company uses valuation techniques that are appropriate in the circumstances
and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the
use of unobservable inputs.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td style="width: 0.75in"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.5in; padding-left: 8.5pt; text-indent: -8.5pt; text-align: left"&gt;Level 1&lt;/td&gt;
    &lt;td style="width: 0.25in; padding-right: 5.4pt; text-align: center; text-indent: 0in"&gt;-&lt;/td&gt;
    &lt;td style="padding-right: 1.4pt; text-align: justify; text-indent: 0in"&gt;quoted prices (unadjusted) in active markets
    for identical assets or liabilities.&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-left: 8.5pt; text-indent: -8.5pt; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-right: 5.4pt; text-align: center; text-indent: 0in"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-right: 1.4pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-left: 8.5pt; text-indent: -8.5pt; text-align: left"&gt;Level 2&lt;/td&gt;
    &lt;td style="padding-right: 5.4pt; text-align: center; text-indent: 0in"&gt;-&lt;/td&gt;
    &lt;td style="padding-right: 1.4pt; text-align: justify; text-indent: 0in"&gt;inputs other than quoted prices included within Level 1 that
    are observable directly or indirectly.&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-left: 8.5pt; text-indent: -8.5pt; text-align: left"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-right: 5.4pt; text-align: center; text-indent: 0in"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-right: 1.4pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="padding-left: 8.5pt; text-indent: -8.5pt; text-align: left"&gt;Level 3&lt;/td&gt;
    &lt;td style="padding-right: 5.4pt; text-align: center; text-indent: 0in"&gt;-&lt;/td&gt;
    &lt;td style="padding-right: 1.4pt; text-align: justify; text-indent: 0in"&gt;inputs that are not based on observable market data (valuation
    techniques which use inputs that are not based on observable market data).&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;All assets and liabilities
measured at fair value or for which fair value is disclosed are categorized into levels within the fair value hierarchy based on the
lowest level input that is significant to the entire fair value measurement:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;</ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory>
    <ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;17)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Provisions:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;A provision in accordance with IAS 37 is recognized when the Company has a present (legal or constructive) obligation as a result of
a past event, it is expected to require the use of economic resources to clear the obligation and a reliable estimate has been made.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Following are the
types of provisions included in the financial statements:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;i.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Legal claims:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;A provision for claims is recognized
when the Company has a present legal or constructive obligation as a result of a past event, it is more likely than not that an outflow
of resources embodying economic benefits will be required by the Company to settle the obligation and a reliable estimate can be made
of the amount of the obligation.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;ii.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Contingent liability recognized in a business combination:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;A contingent liability in a business
combination is measured at fair value upon initial recognition. In subsequent periods, it is measured at the higher of the amount initially
recognized less, when appropriate, cumulative amortization, and the amount that would be recognized at the end of the reporting period
in accordance with IAS 37.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory>
    <ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;18)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Employee benefits:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 74.7pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company maintains
several employee benefit plans:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;i.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Short-term employee benefits:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Short-term employee
benefits are benefits that are expected to be settled wholly before twelve months after the end of the annual reporting period in which
the employees render the related services. These benefits include salaries, paid annual leave, paid sick leave, recreation and social
security contributions and are recognized as expenses as the services are rendered. A liability in respect of a cash bonus or a profit-sharing
plan is recognized when the Company has a legal or constructive obligation to make such payment as a result of past service rendered
by an employee and a reliable estimate of the amount can be made.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;ii.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Post-employment benefits:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The plans are normally
financed by contributions to insurance companies and classified as defined contribution plans or as defined benefit plans.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Magic and its Israeli
subsidiaries (as defined with respect to their Israeli employee contribution plans pursuant to section 14 of Israel&#x2019;s Severance
Pay Law, 1963 (the &#x201c;Severance Pay Law&#x201d;)) pay fixed contributions to those plans and will have no legal or constructive obligation
to pay further contributions if the fund into which those contributions are paid does not hold sufficient amounts to pay all employee
benefits relating to employee service in the current and prior periods. Contributions to the defined contribution plan in respect of
severance or retirement pay are recognized as an expense when contributed concurrently with performance of the employee&#x2019;s services.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Magic and its Israeli
subsidiaries also operate a defined benefit plan in respect of severance or retirement pay to their Israeli employees pursuant to the
Severance Pay Law. According to the Severance Pay Law, employees are entitled to severance pay upon dismissal or retirement.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;In respect of its
severance pay obligation to certain of its employees, the Company makes current deposits in pension funds and insurance companies (the
&#x201c;plan assets&#x201d;). Plan assets comprise assets held by a long-term employee benefit fund or qualifying insurance policies. Plan
assets are not available to the Company&#x2019;s own creditors and cannot be returned directly to the Company.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The liability for
employee benefits shown in the statement of financial position reflects the present value of the defined benefit obligation, less the
fair value of the plan assets. Remeasurements of the net liability are recognized in other comprehensive income in the period in which
they occur.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company&#x2019;s net
obligation for other long-term employee benefits, which is computed based on actuarial assumptions, is for the future benefit due to
employees for services rendered in the current period and in prior periods and considering expected salary increases. The amount of these
benefits is discounted to its present value. The discount rate is determined by reference at the reporting date to market yields on high
quality corporate bonds that are linked to the Consumer Price Index and whose term is consistent with the term of the Company&#x2019;s obligation.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Remeasurement of
the net obligation is recognized to the statement of comprehensive income in the incurred period.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory>
    <ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;19)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Share-based payment:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company&#x2019;s
senior management officers, are entitled to remuneration in the form of equity-settled share-based payment transactions. The cost of
equity-settled transactions with employees is measured at the fair value of the equity instruments granted at grant date. The fair value
is determined using an acceptable option pricing model.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The cost of equity-settled
transactions is recognized in profit or loss together with a corresponding increase in equity during the period which the performance
and/or service conditions are to be satisfied ending on the date on which the relevant employees become entitled to the award (&#x201c;the
vesting period&#x201d;). The cumulative expense recognized for equity-settled transactions at the end of each reporting period until the
vesting date reflects the extent to which the vesting period has expired and the Company&#x2019;s best estimate of the number of equity instruments
that will ultimately vest.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;No expense is recognized
for awards that do not ultimately vest, except for awards where vesting is conditional upon a market condition, which are treated as
vesting irrespective of whether the market condition is satisfied, provided that all other vesting conditions (service and/or performance)
are satisfied&lt;span style="font-family: Times New Roman, Times, Serif"&gt;.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company recognizes
compensation expenses for the value of its awards, which have graded vesting based on the accelerated method over the requisite service
period of each of the awards. The Company accounts for forfeitures as they occur.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory>
    <ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;20)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Earnings per share:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Earnings per share
are calculated by dividing the net income attributable to equity holders of the Company by the weighted number of ordinary shares outstanding
during the period. Potential ordinary shares are included in the computation of diluted earnings per share when their conversion decreases
earnings per share from continuing operations. Potential ordinary shares that are converted during the period are included in diluted
earnings per share only until the conversion date and from that date in basic earnings per share. The Company&#x2019;s share of earnings of
subsidiaries is included based on its share of earnings per share of the subsidiaries multiplied by the number of shares held by the
Company.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory>
    <mgic:DescriptionOfConcentrationOfCreditRiskTextBlock contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;21)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Concentration of credit risk:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Financial instruments
that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, short-term bank
deposits, trade receivables and foreign currency derivative contracts.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The majority of the
Company&#x2019;s cash and cash equivalents, bank deposits and other financial instruments are invested with major banks in Israel, the United
States and across Europe. Management believes that these financial instruments are held in financial institutions with high credit standing,
and accordingly, minimal credit risk exists with respect to these investments. Cash and cash equivalents and short-term deposits in the
United States may be in excess of insured limits and are not insured in other jurisdictions. Generally, these banks deposits may be redeemed
upon demand and therefore bear minimal risk.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company&#x2019;s trade
receivables are generally derived from sales to large organizations located mainly in Israel, North America, Europe and Asia Pacific.
The Company performs ongoing credit evaluations of its customers using a reliable outside source to determine payment terms and credit
limits which are approved based on the size of the customer and to date has not experienced any material losses. In certain circumstances,
Magic and its subsidiaries may require letters of credit or other collateral or additional guarantees.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;The Company maintains
an allowance for credit losses based upon management&#x2019;s experience and estimate of collectability of each outstanding invoice. The allowance
for credit losses is determined with respect to specific debts or which collection is doubtful. The risk of collection associated with
accounts receivable is mitigated by the diversity and number of customers.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;</mgic:DescriptionOfConcentrationOfCreditRiskTextBlock>
    <ifrs-full:DisclosureOfLiquidityRiskExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;22)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Liquidity risk:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Liquidity risk arises
from managing the Company&#x2019;s working capital as well as from financial expenses and principal payments of the Company&#x2019;s debt instruments.
Liquidity risk consists of the risk that the Company will have difficulty in fulfilling obligations relating to financial liabilities.
The Company&#x2019;s policy is to ascertain constant cash adequacy needed for settling its liabilities when due. For this purpose, the Company
aims to hold cash balances (or adequate credit lines) that will meet anticipated demands.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;Magic and its subsidiaries
examine cash flow forecasts on a monthly basis as well as information regarding cash balances. As of the reporting date, these forecasts
indicate that the Company can expect sufficient liquid sources for covering its entire liabilities under reasonable assumptions.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;</ifrs-full:DisclosureOfLiquidityRiskExplanatory>
    <mgic:DescriptionOfReclassificationOfPriorYearsPresentation contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 48px"&gt;&#160;&lt;/td&gt; &lt;td style="width: 24px; font-size: 10pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;23)&lt;/span&gt;&lt;/td&gt; &lt;td style="text-align: justify; font-size: 10pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Reclassification of prior years presentation&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Certain prior year amounts have been
reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;</mgic:DescriptionOfReclassificationOfPriorYearsPresentation>
    <ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;24)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Disclosure of new standards in the period prior to their
adoption&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;a.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Amendment to IAS 1, &#x201c;Presentation of Financial Statements&#x201d;:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;In January 2020, the IASB issued
an amendment to IAS 1, &#x201c;Presentation of Financial Statements&#x201d; regarding the criteria for determining the classification of
liabilities as current or non-current (&#x201c;the Original Amendment&#x201d;). In October 2022, the IASB issued a subsequent amendment (&#x201c;the
Subsequent Amendment&#x201d;).&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;According to the Subsequent Amendment:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&#x25cf;&lt;/td&gt;&lt;td style="text-align: justify"&gt;Only covenants with which an entity must comply on or before
the reporting date will affect a liability&#x2019;s classification as current or non-current.&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&#x25cf;&lt;/td&gt;&lt;td style="text-align: justify"&gt;An entity should provide disclosure when a liability arising
from a loan agreement is classified as non-current and the entity&#x2019;s right to defer settlement is contingent on compliance with future
covenants within twelve months from the reporting date. This disclosure is required to include information about the covenants and the
related liabilities. The disclosures must include information about the nature of the future covenants and when compliance is applicable,
as well as the carrying amount of the related liabilities. The purpose of this information is to allow users to understand the nature
of the future covenants and to assess the risk that a liability classified as non-current could become repayable within twelve months.
Furthermore, if facts and circumstances indicate that an entity may have difficulty in complying with such covenants, those facts and
circumstances should be disclosed.&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;According to the Original Amendment,
the conversion option of a liability affects the classification of the entire liability as current or non-current unless the conversion
component is an equity instrument.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The Original Amendment and Subsequent
Amendment are both effective for annual periods beginning on or after January 1, 2024 and must be applied retrospectively. Early application
is permitted.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The Company estimates that the Amendments
are not expected to have a material impact on its financial statements.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in"&gt;b.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Amendment to IAS 8, &#x201c;Accounting Policies,
                                            Changes to Accounting Estimates and Errors&#x201d;:&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;In February 2021, the IASB issued
an amendment to IAS 8, &#x201c;Accounting Policies, Changes to Accounting Estimates and Errors&#x201d; (&#x201c;the Amendment&#x201d;), in which
it introduces a new definition of &#x201c;accounting estimates&#x201d;.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Accounting estimates are defined
as &#x201c;monetary amounts in financial statements that are subject to measurement uncertainty&#x201d;. The Amendment clarifies the distinction
between changes in accounting estimates and changes in accounting policies and the correction of errors.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The Amendment is to be applied prospectively
for annual reporting periods beginning on or after January 1, 2023 and is applicable to changes in accounting policies and changes in
accounting estimates that occur on or after the start of that period. Early application is permitted.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The Company estimates that the initial
application of the Amendment is not expected to have a material impact on its financial statements.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;c.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Amendment to IAS 12, &#x201c;Income Taxes&#x201d;:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;In May 2021, the IASB issued an amendment
to IAS 12, &#x201c;Income Taxes&#x201d; (&#x201c;IAS 12&#x201d;), which narrows the scope of the initial recognition exception under IAS 12.15
and IAS 12.24 (&#x201c;the Amendment&#x201d;).&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;According to the recognition guidelines
of deferred tax assets and liabilities, IAS 12 excludes recognition of deferred tax assets and liabilities in respect of certain temporary
differences arising from the initial recognition of certain transactions. This exception is referred to as the &#x201c;initial recognition
exception&#x201d;. The Amendment narrows the scope of the initial recognition exception and clarifies that it does not apply to the recognition
of deferred tax assets and liabilities arising from transactions that are not a business combination and that give rise to equal taxable
and deductible temporary differences, even if they meet the other criteria of the initial recognition exception.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The Amendment applies for annual
reporting periods beginning on or after January 1, 2023, with earlier application permitted. In relation to leases and decommissioning
obligations, the Amendment is to be applied commencing from the earliest reporting period presented in the financial statements in which
the Amendment is initially applied. The cumulative effect of the initial application of the Amendment should be recognized as an adjustment
to the opening balance of retained earnings (or another component of equity, as appropriate) at that date.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The Company estimates that the initial
application of the Amendment is not expected to have a material impact on its financial statements.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;d.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Amendment to IAS 1 - Disclosure of Accounting Policies:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;In February 2021, the IASB issued
an amendment to IAS 1, &#x201c;Presentation of Financial Statements&#x201d; (&#x201c;the Amendment&#x201d;), which replaces the requirement to
disclose &#x2018;significant&#x2019; accounting policies with a requirement to disclose &#x2018;material&#x2019; accounting policies. One of the main reasons for
the Amendment is the absence of a definition of the term &#x2018;significant&#x2019; in IFRS whereas the term &#x2018;material&#x2019; is defined in several standards
and particularly in IAS&#160;1.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify"&gt;&#160;&lt;/p&gt;The Amendment is applicable for annual
periods beginning on or after January 1, 2023.</ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations>
    <ifrs-full:DisclosureOfBusinessCombinationsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"/&gt;&lt;td style="width: 0.75in; text-align: left"&gt;&lt;span style="font-size: 10pt"&gt;&lt;b&gt;NOTE 3:-&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;&lt;b&gt;BUSINESS COMBINATIONS&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.5in"&gt;&lt;span style="text-decoration:underline"&gt;Current year
acquisitions&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font-size: 10pt"&gt;a.&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;On December 2, 2021, the Company entered into a Share Purchase Agreement
(&#x201c;the Agreement&#x201d;) to acquire 50.1% of the outstanding share capital of Appush Ltd. (formerly known as Vidstart Ltd.) (&#x201c;Appush&#x201d;),
a provider of a video advertising platform that offers personalized automated methods and real-time smart optimization, helping its clients
achieve high yields in the competitive digital ecosystem, for $ 21,492. Of which, $ 11,042 was paid upon closing. The final closing and
execution of the Agreement occurred on January 27, 2022. In addition, the Company paid $1.5 million as an advance payment for future acquisition
of the remainder of Appush&#x2019;s shares. According to the Agreement, the Company is obliged to purchase the remainder of Appush&#x2019;s
shares in stages until it will hold 100% of Appush&#x2019;s shares on or before December 31, 2026. This obligation was accounted for as
a financial liability measured at its fair value as of the acquisition date of $10,450. The fair value of the financial liability at December
31, 2022 was $8,560. On April 2022 and 2023, the Company acquired the remainder of Appush&#x2019;s shares and it now holds 100%
of its shares.&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.75in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"&gt;The results of operations were included in the consolidated financial statements of the Company commencing January 27, 2022.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.75in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"&gt;The following table summarizes the estimated fair values of the assets acquired and liabilities at the date of acquisition:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 88%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Net liabilities, excluding $1,548 of cash acquired&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;(2,762&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Intangible assets, net of deferred tax liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;7,445&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Goodwill&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;15,261&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Total assets acquired&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;19,944&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The goodwill from the acquisition of Appush is
primarily attributable to potential synergy with Magic, as well as certain intangible assets that do not qualify for separate recognition.
The goodwill is not deductible for income tax purposes.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font-size: 10pt"&gt;b.&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;On August 23, 2022, the Company acquired The Goodkind Group,
LLC (&#x201c;TGG&#x201d;) for a total consideration of $ 11,629, subject to net working capital adjustments. Of which, $ 7,993 was paid upon
closing. The remainder constitutes a deferred payment payable in 2023 and 2024. TGG provides permanent and temporary staffing needs in
various sectors including: Information Technology, Accounting &amp;amp; Finance, Digital Media, Marketing, Human Resource, Financial Services.
TGG specializes in customizing solutions and programs to their clients. With On-Site programs and sourcing models the Company solutions
includes functions which differs from standard staffing companies. TGG provides assistance in the areas of compensation design and development,
employee opinion surveys, employment policies and practices, performance management, regulatory and compliance issues and succession
planning,&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.75in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"&gt;The results of operations were included in the consolidated financial statements of the Company commencing August 23, 2022.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.75in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"&gt;The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 88%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Net assets, excluding $147 of cash acquired&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;3,177&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Customer relationships, net of deferred tax liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,901&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Goodwill&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;4,404&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Total assets acquired&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;11,482&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.75in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"&gt;The goodwill from the acquisition of TGG is primarily
attributable to potential synergy with Magic, as well as certain intangible assets that do not qualify for separate recognition.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font-size: 10pt"&gt;c.&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;On July 1, 2022, the Company acquired Intrabases SAS (&#x201c;Intrabases&#x201d;),
a provider of IT professional services based in Nantes, France. The consideration of the transaction is comprised solely from a cash
consideration in an amount of $ 3,428.&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.75in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"&gt;The results of operations were included in the consolidated financial statements of the Company commencing July 1, 2022. &#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.75in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"&gt;The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 88%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Net assets, excluding $447 of cash acquired&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;120&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Customer relationships, net of deferred tax liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,054&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Goodwill&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,807&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Total assets acquired&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;2,981&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"&gt;The goodwill from the acquisition of Intrabases is primarily attributable
to potential synergy with Magic, as well as certain intangible assets that do not qualify for separate recognition. The goodwill is not
deductible for income tax purposes.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The estimated fair values of the tangible and
intangible assets pertaining to the acquisition of Intrabases are provisional and are based on information that was available as of the
acquisition date to estimate the fair value of these amounts. The Company&#x2019;s management believes the information provides a reasonable
basis for estimating the fair values of these amounts, but is waiting for additional information necessary to finalize those fair values.
Therefore, provisional measurements of fair value reflected are subject to change. The Company expects to finalize the tangible and intangible
assets valuation and complete the acquisition accounting as soon as practicable but no later than the measurement period.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font-size: 10pt"&gt;d.&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;During 2022 the Company entered into two separate Asset Purchase
Agreements which meet the definition of a business. Therefore, the Company deemed them as business combinations which were accounted
for in accordance with IFRS 3. These aforementioned acquisitions are immaterial, both individually and in aggregate. The total consideration
paid for these acquisitions was $ 1,753.&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.75in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"&gt;The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisitions:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 88%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Net liabilities&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;(308&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Customer relationships, net of deferred tax liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,163&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Goodwill&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;898&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Total assets acquired&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;1,753&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.75in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"&gt;The goodwill from these acquisitions is primarily
attributable to potential synergy with Magic, as well as certain intangible assets that do not qualify for separate recognition.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.5in"&gt;&lt;span style="text-decoration:underline"&gt;Previous year
acquisitions&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0.75in; text-align: justify"&gt;&#160;&lt;/td&gt; &lt;td style="width: 24px; text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;a.&lt;/span&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;On April 1, 2021, the Company acquired EnableIT, LLC (&#x201c;EnableIT&#x201d;), a U.S.-based services company, specializes in IT staffing and recruiting, for a total consideration of $ 6,000 of which $&#160;4,000 was paid upon closing and the remaining $&#160;2,000 were paid in two equal installments in April 1, 2022 and 2023. Acquisition related costs were immaterial. The acquisition was accounted for according to the purchase method.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The results of operations were included
in the consolidated financial statements of the Company commencing April 1, 2021.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The following table summarizes the estimated
fair values of the assets acquired and liabilities at the date of acquisition:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 88%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Net liabilities, excluding $42 of cash acquired&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;(34&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Customer relationships, net of deferred tax liability&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,833&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Goodwill&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;4,101&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Total assets acquired&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;5,900&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The goodwill from the acquisition of
EnableIT is primarily attributable to potential synergy with Magic, as well as certain intangible assets that do not qualify for separate
recognition.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 72px; text-align: justify"&gt;&#160;&lt;/td&gt; &lt;td style="width: 24px; text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;b.&lt;/span&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;On April 1, 2021, the Company acquired Menarva Ltd. (&#x201c;Menarva&#x201d;), an Israeli-based services company which specializes in software solutions for non-profit organizations for a total consideration of $5,595. Of which, $3,000 was paid upon closing. The remaining amount constitutes a contingent payment depending on the future operating results achieved by Menarva. The acquisition date fair value of the contingent consideration amounted to $2,595. On March 31, 2022, the Company paid $1,055 to settle a portion of the aforementioned contingent consideration. Acquisition related costs were immaterial. The acquisition was accounted for according to the purchase method.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The results of operations were included
in the consolidated financial statements of the Company commencing April 1, 2021.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The following table summarizes the estimated
fair values of the assets acquired and liabilities at the date of acquisition:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 88%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Net liabilities, excluding $90 of cash acquired&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;(70&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Customer relationships, net of deferred tax liability&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,098&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Goodwill&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3,477&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Total assets acquired&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;5,505&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The goodwill from the acquisition of
Menarva is primarily attributable to potential synergy with Magic, as well as certain intangible assets that do not qualify for separate
recognition. The goodwill is not deductible for income tax purposes.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 72px; text-align: justify"&gt;&#160;&lt;/td&gt; &lt;td style="width: 24px; text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;c.&lt;/span&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;On January 1, 2021, the Company, through one of its Israeli subsidiaries, acquired 60% of the shares of 9540 Y.G. Soft IT Ltd. (&#x201c;Soft IT&#x201d;), an Israel-based services company which specializes in outsourcing of software development services for a total consideration of up to $1,134. $&#160;367&#160;were paid upon closing, $256 were paid on July 4, 2021, and the remaining amount constitutes a contingent payment depending on the future operating results achieved by Soft IT. The fair value of the contingent consideration amounted to $510 at the acquisition date. Acquisition related costs were immaterial. The acquisition was accounted for according to the purchase method. Soft IT&#x2019;s minority shareholder, as well as the Company, hold a mutual put and call option for the remaining 40% interest. Thus, the noncontrolling interests were classified as redeemable noncontrolling interests.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The results of operations were included
in the consolidated financial statements of the Company commencing January 1, 2021.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The following table summarizes the estimated
fair values of the assets acquired and liabilities at the date of acquisition:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 88%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Net liabilities, excluding $402 cash acquired&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;(402&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Customer relationships, net of deferred tax liability&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;886&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Redeemable non-controlling interests&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(719&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Goodwill&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;967&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Total assets acquired&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;732&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The goodwill from the acquisition of
Soft IT is primarily attributable to potential synergy with Magic, as well as certain intangible assets that do not qualify for separate
recognition. The goodwill is not deductible for income tax purposes.&lt;/p&gt;</ifrs-full:DisclosureOfBusinessCombinationsExplanatory>
    <mgic:OutstandingSharePercentage contextRef="c46" decimals="3" unitRef="pure">0.501</mgic:OutstandingSharePercentage>
    <mgic:CompetitiveDigitalEcosystem contextRef="c46" decimals="0" unitRef="usd">21492</mgic:CompetitiveDigitalEcosystem>
    <mgic:ClosingPayment contextRef="c47" decimals="0" unitRef="usd">11042</mgic:ClosingPayment>
    <mgic:AdvancePaymentForFutureAcquisition contextRef="c46" decimals="-5" unitRef="usd">1500000</mgic:AdvancePaymentForFutureAcquisition>
    <mgic:PurchaseOfSharesHoldingPercentage contextRef="c48" decimals="2" unitRef="pure">1</mgic:PurchaseOfSharesHoldingPercentage>
    <ifrs-full:AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate contextRef="c48" decimals="0" unitRef="usd">10450</ifrs-full:AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate>
    <ifrs-full:FinancialLiabilitiesAtFairValue contextRef="c2" decimals="0" unitRef="usd">8560</ifrs-full:FinancialLiabilitiesAtFairValue>
    <mgic:SharesPercentage contextRef="c49" decimals="2" unitRef="pure">1</mgic:SharesPercentage>
    <mgic:SharesPercentage contextRef="c50" decimals="2" unitRef="pure">1</mgic:SharesPercentage>
    <mgic:DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock contextRef="c61">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 88%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Net liabilities, excluding $1,548 of cash acquired&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;(2,762&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Intangible assets, net of deferred tax liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;7,445&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Goodwill&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;15,261&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Total assets acquired&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;19,944&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;</mgic:DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock>
    <mgic:NetLiabilitiesExcludingOfCashAcquired contextRef="c63" decimals="-3" unitRef="usd">1548000</mgic:NetLiabilitiesExcludingOfCashAcquired>
    <mgic:NetLiabilitiesExcludingCashAcquired contextRef="c62" decimals="-3" unitRef="usd">2762000</mgic:NetLiabilitiesExcludingCashAcquired>
    <mgic:IntangibleAssetsNetOfDeferredTaxLiabilities contextRef="c63" decimals="-3" unitRef="usd">7445000</mgic:IntangibleAssetsNetOfDeferredTaxLiabilities>
    <ifrs-full:GoodwillExpectedDeductibleForTaxPurposes contextRef="c63" decimals="-3" unitRef="usd">15261000</ifrs-full:GoodwillExpectedDeductibleForTaxPurposes>
    <ifrs-full:CurrentAssetsRecognisedAsOfAcquisitionDate contextRef="c63" decimals="-3" unitRef="usd">19944000</ifrs-full:CurrentAssetsRecognisedAsOfAcquisitionDate>
    <ifrs-full:AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital contextRef="c51" decimals="0" unitRef="usd">11629</ifrs-full:AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital>
    <mgic:ClosingPayment contextRef="c51" decimals="0" unitRef="usd">7993</mgic:ClosingPayment>
    <mgic:DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock contextRef="c64">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 88%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Net assets, excluding $147 of cash acquired&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;3,177&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Customer relationships, net of deferred tax liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,901&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Goodwill&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;4,404&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Total assets acquired&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;11,482&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;</mgic:DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock>
    <mgic:NetLiabilitiesExcludingOfCashAcquired contextRef="c66" decimals="-3" unitRef="usd">147000</mgic:NetLiabilitiesExcludingOfCashAcquired>
    <mgic:NetAssetsExcludingOfCashAcquired contextRef="c65" decimals="-3" unitRef="usd">-3177000</mgic:NetAssetsExcludingOfCashAcquired>
    <mgic:IntangibleAssetsNetOfDeferredTaxLiabilities contextRef="c66" decimals="-3" unitRef="usd">3901000</mgic:IntangibleAssetsNetOfDeferredTaxLiabilities>
    <ifrs-full:GoodwillExpectedDeductibleForTaxPurposes contextRef="c66" decimals="-3" unitRef="usd">4404000</ifrs-full:GoodwillExpectedDeductibleForTaxPurposes>
    <ifrs-full:CurrentAssetsRecognisedAsOfAcquisitionDate contextRef="c66" decimals="-3" unitRef="usd">11482000</ifrs-full:CurrentAssetsRecognisedAsOfAcquisitionDate>
    <mgic:CashConsiderationAmount contextRef="c52" decimals="0" unitRef="usd">3428</mgic:CashConsiderationAmount>
    <mgic:DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock contextRef="c67">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 88%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Net assets, excluding $447 of cash acquired&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;120&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Customer relationships, net of deferred tax liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,054&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Goodwill&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,807&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Total assets acquired&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;2,981&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;</mgic:DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock>
    <mgic:NetLiabilitiesExcludingOfCashAcquired contextRef="c68" decimals="-3" unitRef="usd">447000</mgic:NetLiabilitiesExcludingOfCashAcquired>
    <ifrs-full:NetDeferredTaxLiabilities contextRef="c68" decimals="-3" unitRef="usd">-120000</ifrs-full:NetDeferredTaxLiabilities>
    <mgic:IntangibleAssetsNetOfDeferredTaxLiabilities contextRef="c68" decimals="-3" unitRef="usd">1054000</mgic:IntangibleAssetsNetOfDeferredTaxLiabilities>
    <ifrs-full:GoodwillExpectedDeductibleForTaxPurposes contextRef="c68" decimals="-3" unitRef="usd">1807000</ifrs-full:GoodwillExpectedDeductibleForTaxPurposes>
    <ifrs-full:CurrentAssetsRecognisedAsOfAcquisitionDate contextRef="c68" decimals="-3" unitRef="usd">2981000</ifrs-full:CurrentAssetsRecognisedAsOfAcquisitionDate>
    <ifrs-full:ConsiderationPaidReceived contextRef="c0" decimals="0" unitRef="usd">1753</ifrs-full:ConsiderationPaidReceived>
    <mgic:DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock contextRef="c69">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 88%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Net liabilities&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;(308&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Customer relationships, net of deferred tax liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,163&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Goodwill&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;898&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Total assets acquired&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;1,753&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"&gt;&#160;&lt;/p&gt;</mgic:DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock>
    <ifrs-full:NetAssetsLiabilities contextRef="c70" decimals="-3" unitRef="usd">-308000</ifrs-full:NetAssetsLiabilities>
    <mgic:CustomerRelationshipsNetOfDeferredTaxLiabilities contextRef="c69" decimals="-3" unitRef="usd">-1163000</mgic:CustomerRelationshipsNetOfDeferredTaxLiabilities>
    <ifrs-full:GoodwillRecognisedAsOfAcquisitionDate contextRef="c70" decimals="-3" unitRef="usd">898000</ifrs-full:GoodwillRecognisedAsOfAcquisitionDate>
    <mgic:CurrentAssetsRecognisedAsOfAcquisition contextRef="c70" decimals="-3" unitRef="usd">1753000</mgic:CurrentAssetsRecognisedAsOfAcquisition>
    <ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred contextRef="c53" decimals="0" unitRef="usd">6000</ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred>
    <mgic:ClosingPayment contextRef="c54" decimals="0" unitRef="usd">4000</mgic:ClosingPayment>
    <mgic:EqualInstallments contextRef="c55" decimals="0" unitRef="usd">2000</mgic:EqualInstallments>
    <mgic:DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock contextRef="c71">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 88%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Net liabilities, excluding $42 of cash acquired&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;(34&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Customer relationships, net of deferred tax liability&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,833&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Goodwill&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;4,101&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Total assets acquired&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;5,900&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;</mgic:DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock>
    <mgic:NetLiabilitiesExcludingOfCashAcquires contextRef="c72" decimals="-3" unitRef="usd">42000</mgic:NetLiabilitiesExcludingOfCashAcquires>
    <mgic:NetLiabilitiesExcludeOfCashAcquired contextRef="c72" decimals="-3" unitRef="usd">-34000</mgic:NetLiabilitiesExcludeOfCashAcquired>
    <mgic:CustomerRelationshipsNetOfDeferredTaxLiabilitys contextRef="c72" decimals="-3" unitRef="usd">1833000</mgic:CustomerRelationshipsNetOfDeferredTaxLiabilitys>
    <ifrs-full:UnallocatedGoodwill contextRef="c72" decimals="-3" unitRef="usd">4101000</ifrs-full:UnallocatedGoodwill>
    <mgic:TotalAssetsAcquired contextRef="c72" decimals="-3" unitRef="usd">5900000</mgic:TotalAssetsAcquired>
    <ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred contextRef="c56" decimals="0" unitRef="usd">5595</ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred>
    <mgic:ClosingPayment contextRef="c57" decimals="0" unitRef="usd">3000</mgic:ClosingPayment>
    <ifrs-full:ContingentConsiderationRecognisedAsOfAcquisitionDate contextRef="c53" decimals="0" unitRef="usd">2595</ifrs-full:ContingentConsiderationRecognisedAsOfAcquisitionDate>
    <ifrs-full:SettlementOfLiabilitiesByEntityOnBehalfOfRelatedPartyRelatedPartyTransactions contextRef="c58" decimals="0" unitRef="usd">1055</ifrs-full:SettlementOfLiabilitiesByEntityOnBehalfOfRelatedPartyRelatedPartyTransactions>
    <mgic:DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock contextRef="c73">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 88%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Net liabilities, excluding $90 of cash acquired&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;(70&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Customer relationships, net of deferred tax liability&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,098&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Goodwill&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3,477&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Total assets acquired&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;5,505&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;</mgic:DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock>
    <mgic:NetLiabilitiesExcludingOfCashAcquired contextRef="c56" decimals="-3" unitRef="usd">90000</mgic:NetLiabilitiesExcludingOfCashAcquired>
    <ifrs-full:NetDeferredTaxLiabilities contextRef="c56" decimals="-3" unitRef="usd">70000</ifrs-full:NetDeferredTaxLiabilities>
    <mgic:IntangibleAssetsNetOfDeferredTaxLiabilities contextRef="c56" decimals="-3" unitRef="usd">2098000</mgic:IntangibleAssetsNetOfDeferredTaxLiabilities>
    <ifrs-full:GoodwillExpectedDeductibleForTaxPurposes contextRef="c56" decimals="-3" unitRef="usd">3477000</ifrs-full:GoodwillExpectedDeductibleForTaxPurposes>
    <ifrs-full:CurrentAssetsRecognisedAsOfAcquisitionDate contextRef="c56" decimals="-3" unitRef="usd">5505000</ifrs-full:CurrentAssetsRecognisedAsOfAcquisitionDate>
    <mgic:PurchaseOfSharesPercentage contextRef="c59" decimals="0" unitRef="usdPershares">60</mgic:PurchaseOfSharesPercentage>
    <ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred contextRef="c3" decimals="0" unitRef="usd">1134</ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred>
    <mgic:ClosingPayment contextRef="c59" decimals="0" unitRef="usd">367</mgic:ClosingPayment>
    <mgic:PaidInCash contextRef="c60" decimals="0" unitRef="usd">256</mgic:PaidInCash>
    <ifrs-full:ContingentConsiderationRecognisedAsOfAcquisitionDate contextRef="c3" decimals="0" unitRef="usd">510</ifrs-full:ContingentConsiderationRecognisedAsOfAcquisitionDate>
    <mgic:RemainingOptionInterestPecentage contextRef="c59" decimals="2" unitRef="pure">0.40</mgic:RemainingOptionInterestPecentage>
    <mgic:DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock contextRef="c74">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 88%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Net liabilities, excluding $402 cash acquired&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;(402&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Customer relationships, net of deferred tax liability&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;886&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Redeemable non-controlling interests&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(719&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Goodwill&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;967&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Total assets acquired&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;732&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;</mgic:DisclosureOfEstimatedFairValuesOfTheAssetsAcquiredAndLiabilitiesTableTextBlock>
    <mgic:NetLiabilitiesExcludingOfCashAcquired contextRef="c75" decimals="-3" unitRef="usd">402000</mgic:NetLiabilitiesExcludingOfCashAcquired>
    <ifrs-full:NetDeferredTaxLiabilities contextRef="c75" decimals="-3" unitRef="usd">402000</ifrs-full:NetDeferredTaxLiabilities>
    <mgic:IntangibleAssetsNetOfDeferredTaxLiabilities contextRef="c75" decimals="-3" unitRef="usd">886000</mgic:IntangibleAssetsNetOfDeferredTaxLiabilities>
    <mgic:RedeemableNoncontrollingInterest contextRef="c75" decimals="-3" unitRef="usd">-719000</mgic:RedeemableNoncontrollingInterest>
    <ifrs-full:GoodwillExpectedDeductibleForTaxPurposes contextRef="c75" decimals="-3" unitRef="usd">967000</ifrs-full:GoodwillExpectedDeductibleForTaxPurposes>
    <ifrs-full:CurrentAssetsRecognisedAsOfAcquisitionDate contextRef="c75" decimals="-3" unitRef="usd">732000</ifrs-full:CurrentAssetsRecognisedAsOfAcquisitionDate>
    <ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"/&gt;&lt;td style="width: 0.75in; text-align: left"&gt;&lt;b&gt;NOTE 4:-&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;CASH AND CASH EQUIVALENTS&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -0.25in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;January 1,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: justify"&gt;Cash and deposits for immediate withdrawal&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;83,306&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;82,302&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;78,489&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: justify"&gt;Cash equivalents in NIS-denominated deposit&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;4,821&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;5,788&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;4,573&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;88,127&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;88,090&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;83,062&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory>
    <ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;January 1,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: justify"&gt;Cash and deposits for immediate withdrawal&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;83,306&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;82,302&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;78,489&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: justify"&gt;Cash equivalents in NIS-denominated deposit&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;4,821&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;5,788&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;4,573&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;88,127&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;88,090&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;83,062&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory>
    <mgic:CashAndDepositsForImmediateWithdrawal contextRef="c59" decimals="-3" unitRef="usd">83306000</mgic:CashAndDepositsForImmediateWithdrawal>
    <mgic:CashAndDepositsForImmediateWithdrawal contextRef="c5" decimals="-3" unitRef="usd">82302000</mgic:CashAndDepositsForImmediateWithdrawal>
    <mgic:CashAndDepositsForImmediateWithdrawal contextRef="c0" decimals="-3" unitRef="usd">78489000</mgic:CashAndDepositsForImmediateWithdrawal>
    <mgic:CashEquivalentsInNISdenominatedDeposit contextRef="c59" decimals="-3" unitRef="usd">4821000</mgic:CashEquivalentsInNISdenominatedDeposit>
    <mgic:CashEquivalentsInNISdenominatedDeposit contextRef="c5" decimals="-3" unitRef="usd">5788000</mgic:CashEquivalentsInNISdenominatedDeposit>
    <mgic:CashEquivalentsInNISdenominatedDeposit contextRef="c0" decimals="-3" unitRef="usd">4573000</mgic:CashEquivalentsInNISdenominatedDeposit>
    <ifrs-full:OtherCashAndCashEquivalents contextRef="c3" decimals="-3" unitRef="usd">88127000</ifrs-full:OtherCashAndCashEquivalents>
    <ifrs-full:OtherCashAndCashEquivalents contextRef="c4" decimals="-3" unitRef="usd">88090000</ifrs-full:OtherCashAndCashEquivalents>
    <ifrs-full:OtherCashAndCashEquivalents contextRef="c2" decimals="-3" unitRef="usd">83062000</ifrs-full:OtherCashAndCashEquivalents>
    <mgic:DisclosureOfOtherAccountsReceivableAndPrepaidExpensesTextBlock contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"/&gt;&lt;td style="width: 0.75in; text-align: left"&gt;&lt;b&gt;NOTE 5:-&lt;/b&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;b&gt;OTHER ACCOUNTS RECEIVAVABLE AND PREPAID EXPESNES&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -85.05pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;The following table summarizes
the composition of the Company&#x2019;s other accounts receivable and prepaid expenses:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -0.5in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;January 1,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: justify"&gt;Prepaid expenses&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;3,581&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;4,578&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;4,262&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;Government authorities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,005&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,601&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,659&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;Related parties&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;615&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;29&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,077&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Others&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;4,550&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,819&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,654&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;11,751&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;11,027&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;13,652&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</mgic:DisclosureOfOtherAccountsReceivableAndPrepaidExpensesTextBlock>
    <mgic:DisclosureOfAOtherAccountsReceivableAndPrepaidExpensesTableTexBlock contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;January 1,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: justify"&gt;Prepaid expenses&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;3,581&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;4,578&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;4,262&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;Government authorities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,005&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,601&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,659&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;Related parties&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;615&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;29&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,077&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Others&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;4,550&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,819&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,654&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;11,751&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;11,027&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;13,652&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</mgic:DisclosureOfAOtherAccountsReceivableAndPrepaidExpensesTableTexBlock>
    <ifrs-full:CurrentPrepaidExpenses contextRef="c3" decimals="-3" unitRef="usd">3581000</ifrs-full:CurrentPrepaidExpenses>
    <ifrs-full:CurrentPrepaidExpenses contextRef="c4" decimals="-3" unitRef="usd">4578000</ifrs-full:CurrentPrepaidExpenses>
    <ifrs-full:CurrentPrepaidExpenses contextRef="c2" decimals="-3" unitRef="usd">4262000</ifrs-full:CurrentPrepaidExpenses>
    <ifrs-full:GovernmentGrants contextRef="c3" decimals="-3" unitRef="usd">3005000</ifrs-full:GovernmentGrants>
    <ifrs-full:GovernmentGrants contextRef="c4" decimals="-3" unitRef="usd">3601000</ifrs-full:GovernmentGrants>
    <ifrs-full:GovernmentGrants contextRef="c2" decimals="-3" unitRef="usd">3659000</ifrs-full:GovernmentGrants>
    <ifrs-full:TradeAndOtherPayablesToRelatedParties contextRef="c3" decimals="-3" unitRef="usd">615000</ifrs-full:TradeAndOtherPayablesToRelatedParties>
    <ifrs-full:TradeAndOtherPayablesToRelatedParties contextRef="c4" decimals="-3" unitRef="usd">29000</ifrs-full:TradeAndOtherPayablesToRelatedParties>
    <ifrs-full:TradeAndOtherPayablesToRelatedParties contextRef="c2" decimals="-3" unitRef="usd">3077000</ifrs-full:TradeAndOtherPayablesToRelatedParties>
    <ifrs-full:OtherPayables contextRef="c3" decimals="-3" unitRef="usd">4550000</ifrs-full:OtherPayables>
    <ifrs-full:OtherPayables contextRef="c4" decimals="-3" unitRef="usd">2819000</ifrs-full:OtherPayables>
    <ifrs-full:OtherPayables contextRef="c2" decimals="-3" unitRef="usd">2654000</ifrs-full:OtherPayables>
    <ifrs-full:TradeReceivables contextRef="c3" decimals="-3" unitRef="usd">11751000</ifrs-full:TradeReceivables>
    <ifrs-full:TradeReceivables contextRef="c4" decimals="-3" unitRef="usd">11027000</ifrs-full:TradeReceivables>
    <ifrs-full:TradeReceivables contextRef="c2" decimals="-3" unitRef="usd">13652000</ifrs-full:TradeReceivables>
    <ifrs-full:DisclosureOfFairValueMeasurementExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"/&gt;&lt;td style="width: 0.75in; text-align: left"&gt;NOTE 6:- &lt;/td&gt;&lt;td style="text-align: justify"&gt;FAIR VALUE MEASUREMENT&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0in"&gt;In determining fair value, the
Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent
possible and considers counterparty credit risk in its assessment of fair value.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0in"&gt;The Company&#x2019;s financial
assets and liabilities measured at fair value on a recurring basis, including accrued interest components, consisted of the following
types of instruments as of January 1, 2021, December 31, 2021 and 2022:&lt;/p&gt;&lt;p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"&gt;Fair value measurements&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Level 3&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Liabilities:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left; text-indent: -8.5pt; padding-left: 19.85pt"&gt;Liability in respect of business combinations&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;19,693&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;19,693&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; text-indent: -8.5pt; padding-left: 19.85pt"&gt;Put options of non-controlling interests&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;28,292&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;28,292&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -8.5pt; padding-left: 11.35pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;47,985&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;47,985&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"&gt;Fair value measurements&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December 31, 2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Level 3&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Liabilities:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left; text-indent: -8.5pt; padding-left: 19.85pt"&gt;Liability in respect of business combinations&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;17,772&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;17,772&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; text-indent: -8.5pt; padding-left: 19.85pt"&gt;Put options of non-controlling interests&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;29,334&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;29,334&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -8.5pt; padding-left: 11.35pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;47,106&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;47,106&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center"&gt;Fair value measurements&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;January 1, 2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Level 3&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Liabilities:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left; text-indent: -8.5pt; padding-left: 19.85pt"&gt;Liability in respect of business combinations&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;10,561&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;10,561&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; text-indent: -8.5pt; padding-left: 19.85pt"&gt;Put options of non-controlling interests&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;23,926&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;23,926&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -8.5pt; padding-left: 11.35pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;34,487&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;34,487&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;There were no Level 1 or Level
2 instruments during neither of the reported periods.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"&gt;&lt;span style="font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;The movement in the liability
in respect of the business combinations is as follows:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"&gt;&lt;span style="font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: justify; text-indent: -0.125in; padding-left: 0.125in"&gt;Opening balance&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;10,561&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;17,772&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.125in; padding-left: 0.125in"&gt;Increase in contingent consideration due to acquisitions&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,098&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;10,670&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.125in; padding-left: 0.125in"&gt;Payment of contingent consideration&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,816&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(8,547&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.125in; padding-left: 0.125in"&gt;Increase in fair value of contingent consideration&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,476&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;119&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.125in; padding-left: 0.125in"&gt;Decrease in fair value of contingent consideration&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(244&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,025&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.125in; padding-left: 0.125in"&gt;Foreign currency translation adjustments&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(36&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(598&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in"&gt;Amortization of interest and exchange rate&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,661&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,302&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in"&gt;Closing balance&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;17,772&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;19,693&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;The financial assets and liabilities
in the consolidated statements of financial position are classified by groups of financial instruments pursuant to IFRS 9&lt;span style="font-family: Times New Roman, Times, Serif"&gt;:&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;January 1,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;U.S. Dollars in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Financial assets&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;Financial assets at cost:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;Cash and cash equivalents&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;88,127&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;88,090&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;83,062&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Short-term bank deposits&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;289&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;5,586&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3,904&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Total financial assets at cost&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;88,416&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;93,676&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;86,966&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Total financial assets&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;88,416&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;93,676&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;86,966&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Financial liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Financial liabilities at fair value through equity:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Put options of non-controlling interests&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;23,926&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;29,334&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;28,292&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Financial liabilities at fair value through profit or loss:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Liability in respect of business combinations&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;15,924&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;20,527&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;24,663&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Financial liabilities measured at amortized cost:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Loans from bank and financial institutions (short-term and long-term debt)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;24,950&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;37,263&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;51,167&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Lease liabilities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;25,022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;25,174&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;28,873&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Total financial liabilities measured at amortized cost:&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;49,972&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;62,437&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;80,040&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Total financial and lease liabilities&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;89,821&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;112,298&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;132,995&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfFairValueMeasurementExplanatory>
    <mgic:ScheduleOfFinancialAssetsAndLiabilitiesMeasuredAtFairValueOnARecurringBasisTableTextBlock contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"&gt;Fair value measurements&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Level 3&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Liabilities:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left; text-indent: -8.5pt; padding-left: 19.85pt"&gt;Liability in respect of business combinations&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;19,693&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;19,693&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; text-indent: -8.5pt; padding-left: 19.85pt"&gt;Put options of non-controlling interests&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;28,292&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;28,292&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -8.5pt; padding-left: 11.35pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;47,985&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;47,985&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"&gt;Fair value measurements&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December 31, 2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Level 3&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Liabilities:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left; text-indent: -8.5pt; padding-left: 19.85pt"&gt;Liability in respect of business combinations&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;17,772&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;17,772&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; text-indent: -8.5pt; padding-left: 19.85pt"&gt;Put options of non-controlling interests&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;29,334&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;29,334&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -8.5pt; padding-left: 11.35pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;47,106&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;47,106&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center"&gt;Fair value measurements&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;January 1, 2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Level 3&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Liabilities:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left; text-indent: -8.5pt; padding-left: 19.85pt"&gt;Liability in respect of business combinations&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;10,561&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;10,561&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; text-indent: -8.5pt; padding-left: 19.85pt"&gt;Put options of non-controlling interests&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;23,926&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;23,926&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -8.5pt; padding-left: 11.35pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;34,487&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;34,487&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"&gt;&#160;&lt;/p&gt;</mgic:ScheduleOfFinancialAssetsAndLiabilitiesMeasuredAtFairValueOnARecurringBasisTableTextBlock>
    <mgic:LiabilityInRespectOfBusinessCombinations contextRef="c76" decimals="-3" unitRef="usd">19693000</mgic:LiabilityInRespectOfBusinessCombinations>
    <mgic:LiabilityInRespectOfBusinessCombinations contextRef="c2" decimals="-3" unitRef="usd">19693000</mgic:LiabilityInRespectOfBusinessCombinations>
    <mgic:PutOptionsOfNoncontrollingInterestsliabilities contextRef="c76" decimals="-3" unitRef="usd">28292000</mgic:PutOptionsOfNoncontrollingInterestsliabilities>
    <mgic:PutOptionsOfNoncontrollingInterestsliabilities contextRef="c2" decimals="-3" unitRef="usd">28292000</mgic:PutOptionsOfNoncontrollingInterestsliabilities>
    <ifrs-full:FinancialLiabilities contextRef="c76" decimals="-3" unitRef="usd">47985000</ifrs-full:FinancialLiabilities>
    <ifrs-full:FinancialLiabilities contextRef="c2" decimals="-3" unitRef="usd">47985000</ifrs-full:FinancialLiabilities>
    <mgic:LiabilityInRespectOfBusinessCombinations contextRef="c77" decimals="-3" unitRef="usd">17772000</mgic:LiabilityInRespectOfBusinessCombinations>
    <mgic:LiabilityInRespectOfBusinessCombinations contextRef="c4" decimals="-3" unitRef="usd">17772000</mgic:LiabilityInRespectOfBusinessCombinations>
    <mgic:PutOptionsOfNoncontrollingInterestsliabilities contextRef="c77" decimals="-3" unitRef="usd">29334000</mgic:PutOptionsOfNoncontrollingInterestsliabilities>
    <mgic:PutOptionsOfNoncontrollingInterestsliabilities contextRef="c4" decimals="-3" unitRef="usd">29334000</mgic:PutOptionsOfNoncontrollingInterestsliabilities>
    <ifrs-full:FinancialLiabilities contextRef="c77" decimals="-3" unitRef="usd">47106000</ifrs-full:FinancialLiabilities>
    <ifrs-full:FinancialLiabilities contextRef="c4" decimals="-3" unitRef="usd">47106000</ifrs-full:FinancialLiabilities>
    <mgic:LiabilityInRespectOfBusinessCombinations contextRef="c78" decimals="-3" unitRef="usd">10561000</mgic:LiabilityInRespectOfBusinessCombinations>
    <mgic:LiabilityInRespectOfBusinessCombinations contextRef="c3" decimals="-3" unitRef="usd">10561000</mgic:LiabilityInRespectOfBusinessCombinations>
    <mgic:PutOptionsOfNoncontrollingInterestsliabilities contextRef="c78" decimals="-3" unitRef="usd">23926000</mgic:PutOptionsOfNoncontrollingInterestsliabilities>
    <mgic:PutOptionsOfNoncontrollingInterestsliabilities contextRef="c3" decimals="-3" unitRef="usd">23926000</mgic:PutOptionsOfNoncontrollingInterestsliabilities>
    <ifrs-full:FinancialLiabilities contextRef="c78" decimals="-3" unitRef="usd">34487000</ifrs-full:FinancialLiabilities>
    <ifrs-full:FinancialLiabilities contextRef="c3" decimals="-3" unitRef="usd">34487000</ifrs-full:FinancialLiabilities>
    <mgic:ScheduleOfLiabilitiesInRespectOfTheBusinessCombinationsTableTextBlock contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: justify; text-indent: -0.125in; padding-left: 0.125in"&gt;Opening balance&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;10,561&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;17,772&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.125in; padding-left: 0.125in"&gt;Increase in contingent consideration due to acquisitions&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,098&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;10,670&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.125in; padding-left: 0.125in"&gt;Payment of contingent consideration&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,816&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(8,547&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.125in; padding-left: 0.125in"&gt;Increase in fair value of contingent consideration&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,476&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;119&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.125in; padding-left: 0.125in"&gt;Decrease in fair value of contingent consideration&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(244&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,025&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.125in; padding-left: 0.125in"&gt;Foreign currency translation adjustments&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(36&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(598&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in"&gt;Amortization of interest and exchange rate&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,661&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,302&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in"&gt;Closing balance&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;17,772&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;19,693&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"&gt;&#160;&lt;/p&gt;</mgic:ScheduleOfLiabilitiesInRespectOfTheBusinessCombinationsTableTextBlock>
    <mgic:LiabilityInRespectOfBusinessCombinations contextRef="c26" decimals="-3" unitRef="usd">10561000</mgic:LiabilityInRespectOfBusinessCombinations>
    <mgic:LiabilityInRespectOfBusinessCombinations contextRef="c4" decimals="-3" unitRef="usd">17772000</mgic:LiabilityInRespectOfBusinessCombinations>
    <ifrs-full:IncreaseDecreaseInContingentConsiderationAssetLiability contextRef="c5" decimals="-3" unitRef="usd">3098000</ifrs-full:IncreaseDecreaseInContingentConsiderationAssetLiability>
    <ifrs-full:IncreaseDecreaseInContingentConsiderationAssetLiability contextRef="c0" decimals="-3" unitRef="usd">10670000</ifrs-full:IncreaseDecreaseInContingentConsiderationAssetLiability>
    <mgic:PaymentOfContingentConsideration contextRef="c5" decimals="-3" unitRef="usd">-1816000</mgic:PaymentOfContingentConsideration>
    <mgic:PaymentOfContingentConsideration contextRef="c0" decimals="-3" unitRef="usd">-8547000</mgic:PaymentOfContingentConsideration>
    <mgic:IncreaseInFairValueOfContingentConsideration contextRef="c5" decimals="-3" unitRef="usd">3476000</mgic:IncreaseInFairValueOfContingentConsideration>
    <mgic:IncreaseInFairValueOfContingentConsideration contextRef="c0" decimals="-3" unitRef="usd">119000</mgic:IncreaseInFairValueOfContingentConsideration>
    <mgic:DecreaseInFairValueOfContingentConsideration contextRef="c5" decimals="-3" unitRef="usd">-244000</mgic:DecreaseInFairValueOfContingentConsideration>
    <mgic:DecreaseInFairValueOfContingentConsideration contextRef="c0" decimals="-3" unitRef="usd">-1025000</mgic:DecreaseInFairValueOfContingentConsideration>
    <mgic:ForeignCurrencyTranslationAdjustments contextRef="c5" decimals="-3" unitRef="usd">-36000</mgic:ForeignCurrencyTranslationAdjustments>
    <mgic:ForeignCurrencyTranslationAdjustments contextRef="c0" decimals="-3" unitRef="usd">-598000</mgic:ForeignCurrencyTranslationAdjustments>
    <mgic:AmortizationOfInterestAndExchangeRate contextRef="c5" decimals="-3" unitRef="usd">2661000</mgic:AmortizationOfInterestAndExchangeRate>
    <mgic:AmortizationOfInterestAndExchangeRate contextRef="c0" decimals="-3" unitRef="usd">1302000</mgic:AmortizationOfInterestAndExchangeRate>
    <mgic:LiabilityInRespectOfBusinessCombinations contextRef="c4" decimals="-3" unitRef="usd">17772000</mgic:LiabilityInRespectOfBusinessCombinations>
    <mgic:LiabilityInRespectOfBusinessCombinations contextRef="c2" decimals="-3" unitRef="usd">19693000</mgic:LiabilityInRespectOfBusinessCombinations>
    <srt:ScheduleOfCondensedBalanceSheetTableTextBlock contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;January 1,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;U.S. Dollars in thousands&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Financial assets&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;Financial assets at cost:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;Cash and cash equivalents&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;88,127&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;88,090&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;83,062&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Short-term bank deposits&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;289&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;5,586&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3,904&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Total financial assets at cost&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;88,416&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;93,676&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;86,966&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Total financial assets&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;88,416&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;93,676&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;86,966&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Financial liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Financial liabilities at fair value through equity:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Put options of non-controlling interests&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;23,926&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;29,334&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;28,292&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Financial liabilities at fair value through profit or loss:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Liability in respect of business combinations&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;15,924&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;20,527&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;24,663&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Financial liabilities measured at amortized cost:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Loans from bank and financial institutions (short-term and long-term debt)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;24,950&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;37,263&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;51,167&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Lease liabilities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;25,022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;25,174&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;28,873&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Total financial liabilities measured at amortized cost:&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;49,972&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;62,437&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;80,040&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Total financial and lease liabilities&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;89,821&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;112,298&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;132,995&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</srt:ScheduleOfCondensedBalanceSheetTableTextBlock>
    <ifrs-full:CashAndCashEquivalents contextRef="c3" decimals="-3" unitRef="usd">88127000</ifrs-full:CashAndCashEquivalents>
    <ifrs-full:CashAndCashEquivalents contextRef="c4" decimals="-3" unitRef="usd">88090000</ifrs-full:CashAndCashEquivalents>
    <ifrs-full:CashAndCashEquivalents contextRef="c2" decimals="-3" unitRef="usd">83062000</ifrs-full:CashAndCashEquivalents>
    <ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents contextRef="c3" decimals="-3" unitRef="usd">289000</ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents>
    <ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents contextRef="c4" decimals="-3" unitRef="usd">5586000</ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents>
    <ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents contextRef="c2" decimals="-3" unitRef="usd">3904000</ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents>
    <ifrs-full:FinancialAssetsAtAmortisedCost contextRef="c3" decimals="-3" unitRef="usd">88416000</ifrs-full:FinancialAssetsAtAmortisedCost>
    <ifrs-full:FinancialAssetsAtAmortisedCost contextRef="c4" decimals="-3" unitRef="usd">93676000</ifrs-full:FinancialAssetsAtAmortisedCost>
    <ifrs-full:FinancialAssetsAtAmortisedCost contextRef="c2" decimals="-3" unitRef="usd">86966000</ifrs-full:FinancialAssetsAtAmortisedCost>
    <ifrs-full:FinancialAssets contextRef="c3" decimals="-3" unitRef="usd">88416000</ifrs-full:FinancialAssets>
    <ifrs-full:FinancialAssets contextRef="c4" decimals="-3" unitRef="usd">93676000</ifrs-full:FinancialAssets>
    <ifrs-full:FinancialAssets contextRef="c2" decimals="-3" unitRef="usd">86966000</ifrs-full:FinancialAssets>
    <mgic:PutOptionsOfNoncontrollingInterests contextRef="c3" decimals="-3" unitRef="usd">23926000</mgic:PutOptionsOfNoncontrollingInterests>
    <mgic:PutOptionsOfNoncontrollingInterests contextRef="c4" decimals="-3" unitRef="usd">29334000</mgic:PutOptionsOfNoncontrollingInterests>
    <mgic:PutOptionsOfNoncontrollingInterests contextRef="c2" decimals="-3" unitRef="usd">28292000</mgic:PutOptionsOfNoncontrollingInterests>
    <mgic:LiabilityInRespectOfBusinessCombination contextRef="c59" decimals="-3" unitRef="usd">15924000</mgic:LiabilityInRespectOfBusinessCombination>
    <mgic:LiabilityInRespectOfBusinessCombination contextRef="c5" decimals="-3" unitRef="usd">20527000</mgic:LiabilityInRespectOfBusinessCombination>
    <mgic:LiabilityInRespectOfBusinessCombination contextRef="c0" decimals="-3" unitRef="usd">24663000</mgic:LiabilityInRespectOfBusinessCombination>
    <mgic:LoansFromBankAndFinancialInstitutions contextRef="c3" decimals="-3" unitRef="usd">24950000</mgic:LoansFromBankAndFinancialInstitutions>
    <mgic:LoansFromBankAndFinancialInstitutions contextRef="c4" decimals="-3" unitRef="usd">37263000</mgic:LoansFromBankAndFinancialInstitutions>
    <mgic:LoansFromBankAndFinancialInstitutions contextRef="c2" decimals="-3" unitRef="usd">51167000</mgic:LoansFromBankAndFinancialInstitutions>
    <ifrs-full:GrossLeaseLiabilities contextRef="c3" decimals="-3" unitRef="usd">25022000</ifrs-full:GrossLeaseLiabilities>
    <ifrs-full:GrossLeaseLiabilities contextRef="c4" decimals="-3" unitRef="usd">25174000</ifrs-full:GrossLeaseLiabilities>
    <ifrs-full:GrossLeaseLiabilities contextRef="c2" decimals="-3" unitRef="usd">28873000</ifrs-full:GrossLeaseLiabilities>
    <ifrs-full:FinancialLiabilitiesAtAmortisedCost contextRef="c3" decimals="-3" unitRef="usd">49972000</ifrs-full:FinancialLiabilitiesAtAmortisedCost>
    <ifrs-full:FinancialLiabilitiesAtAmortisedCost contextRef="c4" decimals="-3" unitRef="usd">62437000</ifrs-full:FinancialLiabilitiesAtAmortisedCost>
    <ifrs-full:FinancialLiabilitiesAtAmortisedCost contextRef="c2" decimals="-3" unitRef="usd">80040000</ifrs-full:FinancialLiabilitiesAtAmortisedCost>
    <mgic:TotalFinancialsAndLeaseLiabilities contextRef="c3" decimals="-3" unitRef="usd">89821000</mgic:TotalFinancialsAndLeaseLiabilities>
    <mgic:TotalFinancialsAndLeaseLiabilities contextRef="c4" decimals="-3" unitRef="usd">112298000</mgic:TotalFinancialsAndLeaseLiabilities>
    <mgic:TotalFinancialsAndLeaseLiabilities contextRef="c2" decimals="-3" unitRef="usd">132995000</mgic:TotalFinancialsAndLeaseLiabilities>
    <ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"/&gt;&lt;td style="width: 0.75in; text-align: left"&gt;NOTE 7:- &lt;/td&gt;&lt;td style="text-align: justify"&gt;PROPERTY, PLANTS AND EQUIPMENT, NET&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;Composition and movement:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Software&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Motor&lt;br/&gt;
 vehicles&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Office&lt;br/&gt;
 furniture&lt;br/&gt;
 and&lt;br/&gt;
 equipment&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;p style="margin-top: 0; margin-bottom: 0"&gt;Computers&lt;br/&gt; and&lt;/p&gt;
                                                                                &lt;p style="margin-top: 0; margin-bottom: 0"&gt;peripheral&lt;br/&gt;
 equipment&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Leasehold&lt;br/&gt;
 improvements&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Cost:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; width: 40%; text-align: left"&gt;Balance as of January&#160;1, 2022&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;1,623&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;1,444&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;3,839&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;8,106&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;3,725&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;18,737&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Additions during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left"&gt;Purchases&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;110&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;9&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,365&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,702&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;195&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,381&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left"&gt;Acquisitions of subsidiaries&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-68"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;55&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;112&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;179&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left"&gt;Adjustments arising from translating financial statements of foreign operations&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(220&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(181&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(555&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,668&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,996&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(628&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left"&gt;Decreases during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 1.5pt"&gt;Disposals&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(25&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(309&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(632&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(44&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(1,012&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Balance as of December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,492&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,270&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;4,395&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;8,620&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;5,880&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;21,657&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Accumulated depreciation:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Balance as of January&#160;1, 2022&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;1,510&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;1,240&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;2,480&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;6,594&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;1,041&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;12,865&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Additions during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left"&gt;Depreciation&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;47&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;583&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,192&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;84&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,910&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left"&gt;Disposals&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(23&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(2&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(284&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(580&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(41&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(930&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 1.5pt"&gt;Adjustments arising from translating financial statements of foreign operations&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(135&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(152&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;104&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(520&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;177&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(526&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Balance as of December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,399&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,090&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,883&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;6,686&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,261&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;13,319&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;Depreciated cost at December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;93&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;180&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;1,512&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;1,934&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;4,619&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;8,338&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Software&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Motor&lt;br/&gt; vehicles&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Office&lt;br/&gt; furniture&lt;br/&gt; and&lt;br/&gt; equipment&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Computers&lt;br/&gt; and&lt;br/&gt; peripheral&lt;br/&gt; equipment&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Leasehold&lt;br/&gt; improvements&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Cost:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; width: 40%; text-align: left"&gt;Balance as of January&#160;1, 2021&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;1,621&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;1,411&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;3,627&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;7,021&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;3,611&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;17,291&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Additions during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Purchases&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;88&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;453&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;830&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;65&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,439&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Acquisition of subsidiaries&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-69"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;40&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;82&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;136&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Adjustments arising from translating financial statements of foreign operations&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(89&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;30&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(253&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;231&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;47&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(34&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Decreases during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Disposals&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(5&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-70"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(28&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(58&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(4&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(95&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Balance as of December 31, 2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,623&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,444&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3,839&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;8,106&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3,725&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;18,737&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Accumulated depreciation:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Balance as of January&#160;1, 2021&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;1,458&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;866&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;2,340&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;5,886&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;753&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;11,303&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Additions during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Depreciation&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;103&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;530&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,084&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;75&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,796&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Disposals&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(5&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-71"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(28&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(58&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(4&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(95&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Adjustments arising from
    translating financial statements of foreign operations&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(46&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;370&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(362&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(318&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;217&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(139&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Balance as of December 31, 2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,510&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,240&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,480&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;6,594&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,041&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;12,865&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Depreciated cost at December 31, 2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;113&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;204&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,359&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,512&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,684&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;5,872&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;Depreciated cost at January 1, 2021&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;163&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;545&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;1,287&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;1,135&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;2,858&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;5,988&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory>
    <ifrs-full:DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Software&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Motor&lt;br/&gt;
 vehicles&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Office&lt;br/&gt;
 furniture&lt;br/&gt;
 and&lt;br/&gt;
 equipment&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;p style="margin-top: 0; margin-bottom: 0"&gt;Computers&lt;br/&gt; and&lt;/p&gt;
                                                                                &lt;p style="margin-top: 0; margin-bottom: 0"&gt;peripheral&lt;br/&gt;
 equipment&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Leasehold&lt;br/&gt;
 improvements&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Cost:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; width: 40%; text-align: left"&gt;Balance as of January&#160;1, 2022&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;1,623&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;1,444&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;3,839&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;8,106&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;3,725&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;18,737&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Additions during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left"&gt;Purchases&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;110&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;9&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,365&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,702&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;195&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,381&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left"&gt;Acquisitions of subsidiaries&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-68"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;55&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;112&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;179&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left"&gt;Adjustments arising from translating financial statements of foreign operations&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(220&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(181&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(555&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,668&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,996&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(628&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left"&gt;Decreases during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 1.5pt"&gt;Disposals&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(25&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(309&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(632&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(44&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(1,012&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Balance as of December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,492&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,270&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;4,395&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;8,620&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;5,880&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;21,657&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Accumulated depreciation:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Balance as of January&#160;1, 2022&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;1,510&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;1,240&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;2,480&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;6,594&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;1,041&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;12,865&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Additions during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left"&gt;Depreciation&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;47&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;583&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,192&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;84&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,910&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left"&gt;Disposals&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(23&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(2&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(284&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(580&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(41&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(930&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 1.5pt"&gt;Adjustments arising from translating financial statements of foreign operations&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(135&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(152&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;104&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(520&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;177&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(526&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Balance as of December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,399&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,090&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,883&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;6,686&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,261&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;13,319&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;Depreciated cost at December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;93&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;180&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;1,512&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;1,934&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;4,619&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;8,338&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Software&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Motor&lt;br/&gt; vehicles&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Office&lt;br/&gt; furniture&lt;br/&gt; and&lt;br/&gt; equipment&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Computers&lt;br/&gt; and&lt;br/&gt; peripheral&lt;br/&gt; equipment&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Leasehold&lt;br/&gt; improvements&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Cost:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; width: 40%; text-align: left"&gt;Balance as of January&#160;1, 2021&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;1,621&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;1,411&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;3,627&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;7,021&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;3,611&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;17,291&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Additions during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Purchases&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;88&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;453&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;830&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;65&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,439&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Acquisition of subsidiaries&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-69"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;40&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;82&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;136&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Adjustments arising from translating financial statements of foreign operations&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(89&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;30&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(253&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;231&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;47&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(34&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Decreases during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Disposals&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(5&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-70"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(28&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(58&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(4&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(95&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Balance as of December 31, 2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,623&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,444&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3,839&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;8,106&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3,725&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;18,737&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Accumulated depreciation:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Balance as of January&#160;1, 2021&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;1,458&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;866&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;2,340&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;5,886&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;753&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;11,303&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Additions during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Depreciation&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;103&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;530&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,084&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;75&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,796&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Disposals&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(5&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-71"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(28&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(58&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(4&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(95&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Adjustments arising from
    translating financial statements of foreign operations&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(46&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;370&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(362&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(318&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;217&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(139&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Balance as of December 31, 2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,510&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,240&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,480&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;6,594&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,041&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;12,865&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Depreciated cost at December 31, 2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;113&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;204&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,359&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,512&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,684&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;5,872&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;Depreciated cost at January 1, 2021&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;163&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;545&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;1,287&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;1,135&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;2,858&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;5,988&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory>
    <mgic:CostAtBeginnings contextRef="c79" decimals="-3" unitRef="usd">1623000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c80" decimals="-3" unitRef="usd">1444000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c81" decimals="-3" unitRef="usd">3839000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c82" decimals="-3" unitRef="usd">8106000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c83" decimals="-3" unitRef="usd">3725000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c4" decimals="-3" unitRef="usd">18737000</mgic:CostAtBeginnings>
    <mgic:CostPurchases contextRef="c84" decimals="-3" unitRef="usd">110000</mgic:CostPurchases>
    <mgic:CostPurchases contextRef="c85" decimals="-3" unitRef="usd">9000</mgic:CostPurchases>
    <mgic:CostPurchases contextRef="c86" decimals="-3" unitRef="usd">1365000</mgic:CostPurchases>
    <mgic:CostPurchases contextRef="c87" decimals="-3" unitRef="usd">2702000</mgic:CostPurchases>
    <mgic:CostPurchases contextRef="c88" decimals="-3" unitRef="usd">195000</mgic:CostPurchases>
    <mgic:CostPurchases contextRef="c0" decimals="-3" unitRef="usd">4381000</mgic:CostPurchases>
    <mgic:CostAcquisition contextRef="c84" decimals="-3" unitRef="usd">4000</mgic:CostAcquisition>
    <mgic:CostAcquisition contextRef="c86" decimals="-3" unitRef="usd">55000</mgic:CostAcquisition>
    <mgic:CostAcquisition contextRef="c87" decimals="-3" unitRef="usd">112000</mgic:CostAcquisition>
    <mgic:CostAcquisition contextRef="c88" decimals="-3" unitRef="usd">8000</mgic:CostAcquisition>
    <mgic:CostAcquisition contextRef="c0" decimals="-3" unitRef="usd">179000</mgic:CostAcquisition>
    <mgic:CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c84" decimals="-3" unitRef="usd">-220000</mgic:CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c85" decimals="-3" unitRef="usd">-181000</mgic:CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c86" decimals="-3" unitRef="usd">-555000</mgic:CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c87" decimals="-3" unitRef="usd">-1668000</mgic:CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c88" decimals="-3" unitRef="usd">1996000</mgic:CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c0" decimals="-3" unitRef="usd">-628000</mgic:CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:CostDisposals contextRef="c84" decimals="-3" unitRef="usd">-25000</mgic:CostDisposals>
    <mgic:CostDisposals contextRef="c85" decimals="-3" unitRef="usd">-2000</mgic:CostDisposals>
    <mgic:CostDisposals contextRef="c86" decimals="-3" unitRef="usd">-309000</mgic:CostDisposals>
    <mgic:CostDisposals contextRef="c87" decimals="-3" unitRef="usd">-632000</mgic:CostDisposals>
    <mgic:CostDisposals contextRef="c88" decimals="-3" unitRef="usd">-44000</mgic:CostDisposals>
    <mgic:CostDisposals contextRef="c0" decimals="-3" unitRef="usd">-1012000</mgic:CostDisposals>
    <mgic:CostAtBeginnings contextRef="c89" decimals="-3" unitRef="usd">1492000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c90" decimals="-3" unitRef="usd">1270000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c91" decimals="-3" unitRef="usd">4395000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c92" decimals="-3" unitRef="usd">8620000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c93" decimals="-3" unitRef="usd">5880000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c2" decimals="-3" unitRef="usd">21657000</mgic:CostAtBeginnings>
    <mgic:AccumulatedDepreciationAtBeginning contextRef="c79" decimals="-3" unitRef="usd">1510000</mgic:AccumulatedDepreciationAtBeginning>
    <mgic:AccumulatedDepreciationAtBeginning contextRef="c80" decimals="-3" unitRef="usd">1240000</mgic:AccumulatedDepreciationAtBeginning>
    <mgic:AccumulatedDepreciationAtBeginning contextRef="c81" decimals="-3" unitRef="usd">2480000</mgic:AccumulatedDepreciationAtBeginning>
    <mgic:AccumulatedDepreciationAtBeginning contextRef="c82" decimals="-3" unitRef="usd">6594000</mgic:AccumulatedDepreciationAtBeginning>
    <mgic:AccumulatedDepreciationAtBeginning contextRef="c83" decimals="-3" unitRef="usd">1041000</mgic:AccumulatedDepreciationAtBeginning>
    <mgic:AccumulatedDepreciationAtBeginning contextRef="c4" decimals="-3" unitRef="usd">12865000</mgic:AccumulatedDepreciationAtBeginning>
    <mgic:AccumulatedDepreciationDepreciation contextRef="c84" decimals="-3" unitRef="usd">47000</mgic:AccumulatedDepreciationDepreciation>
    <mgic:AccumulatedDepreciationDepreciation contextRef="c85" decimals="-3" unitRef="usd">4000</mgic:AccumulatedDepreciationDepreciation>
    <mgic:AccumulatedDepreciationDepreciation contextRef="c86" decimals="-3" unitRef="usd">583000</mgic:AccumulatedDepreciationDepreciation>
    <mgic:AccumulatedDepreciationDepreciation contextRef="c87" decimals="-3" unitRef="usd">1192000</mgic:AccumulatedDepreciationDepreciation>
    <mgic:AccumulatedDepreciationDepreciation contextRef="c88" decimals="-3" unitRef="usd">84000</mgic:AccumulatedDepreciationDepreciation>
    <mgic:AccumulatedDepreciationDepreciation contextRef="c0" decimals="-3" unitRef="usd">1910000</mgic:AccumulatedDepreciationDepreciation>
    <mgic:AccumulatedDepreciationDisposals contextRef="c84" decimals="-3" unitRef="usd">-23000</mgic:AccumulatedDepreciationDisposals>
    <mgic:AccumulatedDepreciationDisposals contextRef="c85" decimals="-3" unitRef="usd">-2000</mgic:AccumulatedDepreciationDisposals>
    <mgic:AccumulatedDepreciationDisposals contextRef="c86" decimals="-3" unitRef="usd">-284000</mgic:AccumulatedDepreciationDisposals>
    <mgic:AccumulatedDepreciationDisposals contextRef="c87" decimals="-3" unitRef="usd">-580000</mgic:AccumulatedDepreciationDisposals>
    <mgic:AccumulatedDepreciationDisposals contextRef="c88" decimals="-3" unitRef="usd">-41000</mgic:AccumulatedDepreciationDisposals>
    <mgic:AccumulatedDepreciationDisposals contextRef="c0" decimals="-3" unitRef="usd">-930000</mgic:AccumulatedDepreciationDisposals>
    <mgic:AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp contextRef="c84" decimals="-3" unitRef="usd">-135000</mgic:AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp>
    <mgic:AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp contextRef="c85" decimals="-3" unitRef="usd">-152000</mgic:AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp>
    <mgic:AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp contextRef="c86" decimals="-3" unitRef="usd">104000</mgic:AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp>
    <mgic:AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp contextRef="c87" decimals="-3" unitRef="usd">-520000</mgic:AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp>
    <mgic:AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp contextRef="c88" decimals="-3" unitRef="usd">177000</mgic:AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp>
    <mgic:AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp contextRef="c0" decimals="-3" unitRef="usd">-526000</mgic:AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp>
    <mgic:AccumulatedDepreciationAtBeginning contextRef="c89" decimals="-3" unitRef="usd">1399000</mgic:AccumulatedDepreciationAtBeginning>
    <mgic:AccumulatedDepreciationAtBeginning contextRef="c90" decimals="-3" unitRef="usd">1090000</mgic:AccumulatedDepreciationAtBeginning>
    <mgic:AccumulatedDepreciationAtBeginning contextRef="c91" decimals="-3" unitRef="usd">2883000</mgic:AccumulatedDepreciationAtBeginning>
    <mgic:AccumulatedDepreciationAtBeginning contextRef="c92" decimals="-3" unitRef="usd">6686000</mgic:AccumulatedDepreciationAtBeginning>
    <mgic:AccumulatedDepreciationAtBeginning contextRef="c93" decimals="-3" unitRef="usd">1261000</mgic:AccumulatedDepreciationAtBeginning>
    <mgic:AccumulatedDepreciationAtBeginning contextRef="c2" decimals="-3" unitRef="usd">13319000</mgic:AccumulatedDepreciationAtBeginning>
    <mgic:AccumulatedDepreciationDepreciatedCosts contextRef="c89" decimals="-3" unitRef="usd">93000</mgic:AccumulatedDepreciationDepreciatedCosts>
    <mgic:AccumulatedDepreciationDepreciatedCosts contextRef="c90" decimals="-3" unitRef="usd">180000</mgic:AccumulatedDepreciationDepreciatedCosts>
    <mgic:AccumulatedDepreciationDepreciatedCosts contextRef="c91" decimals="-3" unitRef="usd">1512000</mgic:AccumulatedDepreciationDepreciatedCosts>
    <mgic:AccumulatedDepreciationDepreciatedCosts contextRef="c92" decimals="-3" unitRef="usd">1934000</mgic:AccumulatedDepreciationDepreciatedCosts>
    <mgic:AccumulatedDepreciationDepreciatedCosts contextRef="c93" decimals="-3" unitRef="usd">4619000</mgic:AccumulatedDepreciationDepreciatedCosts>
    <mgic:AccumulatedDepreciationDepreciatedCosts contextRef="c2" decimals="-3" unitRef="usd">8338000</mgic:AccumulatedDepreciationDepreciatedCosts>
    <mgic:CostAtBeginnings contextRef="c94" decimals="-3" unitRef="usd">1621000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c95" decimals="-3" unitRef="usd">1411000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c96" decimals="-3" unitRef="usd">3627000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c97" decimals="-3" unitRef="usd">7021000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c98" decimals="-3" unitRef="usd">3611000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c26" decimals="-3" unitRef="usd">17291000</mgic:CostAtBeginnings>
    <mgic:CostPurchases contextRef="c99" decimals="-3" unitRef="usd">88000</mgic:CostPurchases>
    <mgic:CostPurchases contextRef="c100" decimals="-3" unitRef="usd">3000</mgic:CostPurchases>
    <mgic:CostPurchases contextRef="c101" decimals="-3" unitRef="usd">453000</mgic:CostPurchases>
    <mgic:CostPurchases contextRef="c102" decimals="-3" unitRef="usd">830000</mgic:CostPurchases>
    <mgic:CostPurchases contextRef="c103" decimals="-3" unitRef="usd">65000</mgic:CostPurchases>
    <mgic:CostPurchases contextRef="c5" decimals="-3" unitRef="usd">1439000</mgic:CostPurchases>
    <mgic:CostAcquisition contextRef="c99" decimals="-3" unitRef="usd">8000</mgic:CostAcquisition>
    <mgic:CostAcquisition contextRef="c101" decimals="-3" unitRef="usd">40000</mgic:CostAcquisition>
    <mgic:CostAcquisition contextRef="c102" decimals="-3" unitRef="usd">82000</mgic:CostAcquisition>
    <mgic:CostAcquisition contextRef="c103" decimals="-3" unitRef="usd">6000</mgic:CostAcquisition>
    <mgic:CostAcquisition contextRef="c5" decimals="-3" unitRef="usd">136000</mgic:CostAcquisition>
    <mgic:CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c99" decimals="-3" unitRef="usd">-89000</mgic:CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c100" decimals="-3" unitRef="usd">30000</mgic:CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c101" decimals="-3" unitRef="usd">-253000</mgic:CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c102" decimals="-3" unitRef="usd">231000</mgic:CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c103" decimals="-3" unitRef="usd">47000</mgic:CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c5" decimals="-3" unitRef="usd">-34000</mgic:CostAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:CostDisposals contextRef="c99" decimals="-3" unitRef="usd">-5000</mgic:CostDisposals>
    <mgic:CostDisposals contextRef="c101" decimals="-3" unitRef="usd">-28000</mgic:CostDisposals>
    <mgic:CostDisposals contextRef="c102" decimals="-3" unitRef="usd">-58000</mgic:CostDisposals>
    <mgic:CostDisposals contextRef="c103" decimals="-3" unitRef="usd">-4000</mgic:CostDisposals>
    <mgic:CostDisposals contextRef="c5" decimals="-3" unitRef="usd">-95000</mgic:CostDisposals>
    <mgic:CostAtBeginnings contextRef="c79" decimals="-3" unitRef="usd">1623000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c80" decimals="-3" unitRef="usd">1444000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c81" decimals="-3" unitRef="usd">3839000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c82" decimals="-3" unitRef="usd">8106000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c83" decimals="-3" unitRef="usd">3725000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c4" decimals="-3" unitRef="usd">18737000</mgic:CostAtBeginnings>
    <mgic:AccumulatedDepreciationAtBeginning contextRef="c94" decimals="-3" unitRef="usd">1458000</mgic:AccumulatedDepreciationAtBeginning>
    <mgic:AccumulatedDepreciationAtBeginning contextRef="c95" decimals="-3" unitRef="usd">866000</mgic:AccumulatedDepreciationAtBeginning>
    <mgic:AccumulatedDepreciationAtBeginning contextRef="c96" decimals="-3" unitRef="usd">2340000</mgic:AccumulatedDepreciationAtBeginning>
    <mgic:AccumulatedDepreciationAtBeginning contextRef="c97" decimals="-3" unitRef="usd">5886000</mgic:AccumulatedDepreciationAtBeginning>
    <mgic:AccumulatedDepreciationAtBeginning contextRef="c98" decimals="-3" unitRef="usd">753000</mgic:AccumulatedDepreciationAtBeginning>
    <mgic:AccumulatedDepreciationAtBeginning contextRef="c26" decimals="-3" unitRef="usd">11303000</mgic:AccumulatedDepreciationAtBeginning>
    <mgic:AccumulatedDepreciationDepreciation contextRef="c99" decimals="-3" unitRef="usd">103000</mgic:AccumulatedDepreciationDepreciation>
    <mgic:AccumulatedDepreciationDepreciation contextRef="c100" decimals="-3" unitRef="usd">4000</mgic:AccumulatedDepreciationDepreciation>
    <mgic:AccumulatedDepreciationDepreciation contextRef="c101" decimals="-3" unitRef="usd">530000</mgic:AccumulatedDepreciationDepreciation>
    <mgic:AccumulatedDepreciationDepreciation contextRef="c102" decimals="-3" unitRef="usd">1084000</mgic:AccumulatedDepreciationDepreciation>
    <mgic:AccumulatedDepreciationDepreciation contextRef="c103" decimals="-3" unitRef="usd">75000</mgic:AccumulatedDepreciationDepreciation>
    <mgic:AccumulatedDepreciationDepreciation contextRef="c5" decimals="-3" unitRef="usd">1796000</mgic:AccumulatedDepreciationDepreciation>
    <mgic:AccumulatedDepreciationDisposals contextRef="c99" decimals="-3" unitRef="usd">-5000</mgic:AccumulatedDepreciationDisposals>
    <mgic:AccumulatedDepreciationDisposals contextRef="c101" decimals="-3" unitRef="usd">-28000</mgic:AccumulatedDepreciationDisposals>
    <mgic:AccumulatedDepreciationDisposals contextRef="c102" decimals="-3" unitRef="usd">-58000</mgic:AccumulatedDepreciationDisposals>
    <mgic:AccumulatedDepreciationDisposals contextRef="c103" decimals="-3" unitRef="usd">-4000</mgic:AccumulatedDepreciationDisposals>
    <mgic:AccumulatedDepreciationDisposals contextRef="c5" decimals="-3" unitRef="usd">-95000</mgic:AccumulatedDepreciationDisposals>
    <mgic:AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp contextRef="c99" decimals="-3" unitRef="usd">-46000</mgic:AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp>
    <mgic:AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp contextRef="c100" decimals="-3" unitRef="usd">370000</mgic:AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp>
    <mgic:AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp contextRef="c101" decimals="-3" unitRef="usd">-362000</mgic:AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp>
    <mgic:AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp contextRef="c102" decimals="-3" unitRef="usd">-318000</mgic:AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp>
    <mgic:AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp contextRef="c103" decimals="-3" unitRef="usd">217000</mgic:AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp>
    <mgic:AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp contextRef="c5" decimals="-3" unitRef="usd">-139000</mgic:AccumulatedDepreciationAdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOp>
    <mgic:AccumulatedDepreciationAtBeginning contextRef="c79" decimals="-3" unitRef="usd">1510000</mgic:AccumulatedDepreciationAtBeginning>
    <mgic:AccumulatedDepreciationAtBeginning contextRef="c80" decimals="-3" unitRef="usd">1240000</mgic:AccumulatedDepreciationAtBeginning>
    <mgic:AccumulatedDepreciationAtBeginning contextRef="c81" decimals="-3" unitRef="usd">2480000</mgic:AccumulatedDepreciationAtBeginning>
    <mgic:AccumulatedDepreciationAtBeginning contextRef="c82" decimals="-3" unitRef="usd">6594000</mgic:AccumulatedDepreciationAtBeginning>
    <mgic:AccumulatedDepreciationAtBeginning contextRef="c83" decimals="-3" unitRef="usd">1041000</mgic:AccumulatedDepreciationAtBeginning>
    <mgic:AccumulatedDepreciationAtBeginning contextRef="c4" decimals="-3" unitRef="usd">12865000</mgic:AccumulatedDepreciationAtBeginning>
    <mgic:AccumulatedDepreciationDepreciatedCosts contextRef="c79" decimals="-3" unitRef="usd">113000</mgic:AccumulatedDepreciationDepreciatedCosts>
    <mgic:AccumulatedDepreciationDepreciatedCosts contextRef="c80" decimals="-3" unitRef="usd">204000</mgic:AccumulatedDepreciationDepreciatedCosts>
    <mgic:AccumulatedDepreciationDepreciatedCosts contextRef="c81" decimals="-3" unitRef="usd">1359000</mgic:AccumulatedDepreciationDepreciatedCosts>
    <mgic:AccumulatedDepreciationDepreciatedCosts contextRef="c82" decimals="-3" unitRef="usd">1512000</mgic:AccumulatedDepreciationDepreciatedCosts>
    <mgic:AccumulatedDepreciationDepreciatedCosts contextRef="c83" decimals="-3" unitRef="usd">2684000</mgic:AccumulatedDepreciationDepreciatedCosts>
    <mgic:AccumulatedDepreciationDepreciatedCosts contextRef="c4" decimals="-3" unitRef="usd">5872000</mgic:AccumulatedDepreciationDepreciatedCosts>
    <mgic:AccumulatedDepreciationDepreciatedCostsBeginning contextRef="c104" decimals="-3" unitRef="usd">163000</mgic:AccumulatedDepreciationDepreciatedCostsBeginning>
    <mgic:AccumulatedDepreciationDepreciatedCostsBeginning contextRef="c105" decimals="-3" unitRef="usd">545000</mgic:AccumulatedDepreciationDepreciatedCostsBeginning>
    <mgic:AccumulatedDepreciationDepreciatedCostsBeginning contextRef="c106" decimals="-3" unitRef="usd">1287000</mgic:AccumulatedDepreciationDepreciatedCostsBeginning>
    <mgic:AccumulatedDepreciationDepreciatedCostsBeginning contextRef="c107" decimals="-3" unitRef="usd">1135000</mgic:AccumulatedDepreciationDepreciatedCostsBeginning>
    <mgic:AccumulatedDepreciationDepreciatedCostsBeginning contextRef="c108" decimals="-3" unitRef="usd">2858000</mgic:AccumulatedDepreciationDepreciatedCostsBeginning>
    <mgic:AccumulatedDepreciationDepreciatedCostsBeginning contextRef="c3" decimals="-3" unitRef="usd">5988000</mgic:AccumulatedDepreciationDepreciatedCostsBeginning>
    <ifrs-full:DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"/&gt;&lt;td style="width: 0.75in; text-align: left"&gt;&lt;span style="text-transform: uppercase"&gt;NotE 8:-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="text-transform: uppercase"&gt;Intangible
                                            Assets, Net&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;Composition and movement:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: center"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;Capitalized&lt;br/&gt;
    Software&lt;br/&gt;
    development&lt;br/&gt;
    costs&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: center"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;Customer&lt;br/&gt;
    relationship&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: center"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;Acquired&lt;br/&gt;
    technology&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: center"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;Others&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: center"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;Cost:&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; width: 50%; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;Balance
    as of January&#160;1, 2022&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 1%; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 7%; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;90,101&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 1%; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 7%; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;86,651&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 1%; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 7%; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;18,371&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 1%; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 7%; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;637&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 1%; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 7%; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;195,760&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;Capitalized
    development costs&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;3,059&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;3,059&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;Purchase
    of intangible asset&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-72; font-size: 9pt; font-style: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;219&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-73; font-size: 9pt; font-style: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-74; font-size: 9pt; font-style: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;219&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal"&gt;
    &lt;td style="font-style: normal; text-indent: -0.125in; padding-left: 0.125in; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;Acquisition
    of subsidiaries&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-75; font-size: 9pt; font-style: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;11,319&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;2,707&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-76; font-size: 9pt; font-style: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;14,026&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal"&gt;
    &lt;td style="font-style: normal; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;Adjustments
    arising from translating financial statements of foreign operations&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;(103&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;(5,055&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;(1,030&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;(53&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;(6,241&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;Balance
    as of December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;93,057&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;93,134&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;20,048&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;584&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;206,823&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;Accumulated
    amortization and impairment:&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;Balance
    as of January&#160;1, 2022&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;79,354&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;54,494&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;10,329&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;193&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;144,370&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;Amortization
    recognized in the year&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;3,817&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;7,865&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;1,797&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;95&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;13,574&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;Adjustments
    arising from translating financial statements of foreign operations&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;(2,930&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;(244&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;(4&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;(3,178&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;Balance
    as of December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;83,171&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;59,429&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;11,882&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;284&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;154,766&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;Amortized
    cost at December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 4pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;9,886&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 4pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 4pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;33,705&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 4pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 4pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;8,166&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 4pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 4pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;300&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 4pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 4pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;52,057&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 4pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;Capitalized
    Software development costs&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;Customer
    relationship&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;Acquired
    technology&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;Others&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;Cost:&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; width: 50%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;Balance
    as of January&#160;1, 2021&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 7%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;86,240&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 7%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;78,750&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 7%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;18,052&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 7%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;616&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 7%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;183,658&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;Capitalized
    development costs&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;3,193&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;3,193&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;Acquisition
    of subsidiaries&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;6,445&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;6,445&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;Adjustments
    arising from translating financial statements of foreign operations&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;668&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;1,456&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;319&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;21&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;2,464&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"/&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;Balance
    as of December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;90,101&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;86,651&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;18,371&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;637&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;195,760&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;Accumulated
    amortization and impairment:&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;Balance
    as of January&#160;1, 2021&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;74,841&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;46,621&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;8,720&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;72&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;130,254&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;Amortization
    recognized in the year&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;4,513&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;6,962&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;1,468&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;111&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;13,054&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;Adjustments
    arising from translating financial statements of foreign operations&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;911&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;140&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;11&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;1,062&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;Balance
    as of December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;79,354&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;54,494&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;10,329&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;193&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;144,370&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;Amortized
    cost at December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;10,747&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;32,157&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;8,042&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;444&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;51,390&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;Amortized
    cost at January 1, 2021&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;11,399&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;32,129&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;9,332&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;544&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;53,404&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;During the years ended December
31, 2021 and 2022 the Company recognized amortization expenses related to intangible assets as follows:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 76.5pt; text-align: justify; text-indent: 0in"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold; text-align: center"&gt;Year ended December&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 80%; text-align: justify"&gt;Cost of revenues&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;6,068&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;5,405&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Selling and marketing expenses&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;6,968&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;8,169&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;13,054&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;13,574&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;Intangible assets composition
by reportable segment as of December 31, 2022:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&lt;span style="font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;IT &lt;br/&gt; professional&lt;br/&gt; services&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Software&lt;br/&gt; services&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 70%; text-align: justify"&gt;Capitalized Software development costs&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;1,079&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;8,807&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;9,886&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;Customer relationship&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;22,373&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;11,332&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;33,705&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;Acquired technology&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,751&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,415&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,166&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: justify"&gt;Others&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-77"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;300&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;300&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: justify"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;25,203&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;26,854&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;52,057&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt"&gt;&lt;span style="font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;The estimated future amortization
expense of intangible assets as of December 31, 2022 is as follows:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;span style="font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 88%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;2023&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;13,011&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;2024&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;11,075&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;2025&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;9,048&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;2026&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;7,162&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;2027 and thereafter&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;11,761&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;52,057&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory>
    <ifrs-full:DisclosureOfIntangibleAssetsMaterialToEntityExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: center"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;Capitalized&lt;br/&gt;
    Software&lt;br/&gt;
    development&lt;br/&gt;
    costs&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: center"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;Customer&lt;br/&gt;
    relationship&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: center"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;Acquired&lt;br/&gt;
    technology&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: center"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;Others&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: center"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;Cost:&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; width: 50%; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;Balance
    as of January&#160;1, 2022&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 1%; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 7%; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;90,101&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 1%; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 7%; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;86,651&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 1%; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 7%; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;18,371&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 1%; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 7%; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;637&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 1%; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 7%; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;195,760&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; width: 1%; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;Capitalized
    development costs&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;3,059&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;3,059&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;Purchase
    of intangible asset&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-72; font-size: 9pt; font-style: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;219&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-73; font-size: 9pt; font-style: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-74; font-size: 9pt; font-style: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;219&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal"&gt;
    &lt;td style="font-style: normal; text-indent: -0.125in; padding-left: 0.125in; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;Acquisition
    of subsidiaries&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-75; font-size: 9pt; font-style: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;11,319&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;2,707&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-76; font-size: 9pt; font-style: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;14,026&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal"&gt;
    &lt;td style="font-style: normal; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;Adjustments
    arising from translating financial statements of foreign operations&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;(103&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;(5,055&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;(1,030&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;(53&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;(6,241&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;Balance
    as of December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;93,057&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;93,134&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;20,048&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;584&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;206,823&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;Accumulated
    amortization and impairment:&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;Balance
    as of January&#160;1, 2022&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;79,354&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;54,494&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;10,329&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;193&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;144,370&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;Amortization
    recognized in the year&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;3,817&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;7,865&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;1,797&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;95&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;13,574&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;Adjustments
    arising from translating financial statements of foreign operations&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;(2,930&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;(244&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;(4&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;(3,178&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;Balance
    as of December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;83,171&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;59,429&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;11,882&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;284&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 1.5pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;154,766&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 1.5pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: right; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; text-align: left; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal"&gt;
    &lt;td style="font-style: normal; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt; font-weight: normal"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;Amortized
    cost at December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 4pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;9,886&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 4pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 4pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;33,705&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 4pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 4pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;8,166&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 4pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 4pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;300&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 4pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; font-weight: normal; padding-bottom: 4pt"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-style: normal; font-weight: normal; text-align: right"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;52,057&lt;/span&gt;&lt;/td&gt;&lt;td style="font-style: normal; padding-bottom: 4pt; font-weight: normal; text-align: left"&gt;&lt;span style="font-size: 9pt; font-style: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;Capitalized
    Software development costs&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;Customer
    relationship&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;Acquired
    technology&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;Others&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;Cost:&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; width: 50%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;Balance
    as of January&#160;1, 2021&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 7%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;86,240&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 7%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;78,750&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 7%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;18,052&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 7%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;616&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 7%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;183,658&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;Capitalized
    development costs&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;3,193&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;3,193&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;Acquisition
    of subsidiaries&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;6,445&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;6,445&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;Adjustments
    arising from translating financial statements of foreign operations&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;668&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;1,456&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;319&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;21&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;2,464&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"/&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;Balance
    as of December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;90,101&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;86,651&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;18,371&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;637&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;195,760&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;Accumulated
    amortization and impairment:&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;Balance
    as of January&#160;1, 2021&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;74,841&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;46,621&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;8,720&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;72&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;130,254&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;Amortization
    recognized in the year&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;4,513&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;6,962&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;1,468&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;111&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;13,054&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;Adjustments
    arising from translating financial statements of foreign operations&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;-&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;911&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;140&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;11&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;1,062&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;Balance
    as of December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;79,354&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;54,494&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;10,329&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;193&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;144,370&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;Amortized
    cost at December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;10,747&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;32,157&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;8,042&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;444&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;51,390&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"&gt;
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    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="font: normal 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;Amortized
    cost at January 1, 2021&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;11,399&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;32,129&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;9,332&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;544&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font: normal 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: normal 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;53,404&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-weight: bold; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;</ifrs-full:DisclosureOfIntangibleAssetsMaterialToEntityExplanatory>
    <mgic:GoodwillandOtherIntangibleAssetCost contextRef="c109" decimals="-3" unitRef="usd">90101000</mgic:GoodwillandOtherIntangibleAssetCost>
    <mgic:GoodwillandOtherIntangibleAssetCost contextRef="c110" decimals="-3" unitRef="usd">86651000</mgic:GoodwillandOtherIntangibleAssetCost>
    <mgic:GoodwillandOtherIntangibleAssetCost contextRef="c111" decimals="-3" unitRef="usd">18371000</mgic:GoodwillandOtherIntangibleAssetCost>
    <mgic:GoodwillandOtherIntangibleAssetCost contextRef="c112" decimals="-3" unitRef="usd">637000</mgic:GoodwillandOtherIntangibleAssetCost>
    <mgic:GoodwillandOtherIntangibleAssetCost contextRef="c4" decimals="-3" unitRef="usd">195760000</mgic:GoodwillandOtherIntangibleAssetCost>
    <mgic:CapitalizedDevelopmentCosts contextRef="c113" decimals="-3" unitRef="usd">3059000</mgic:CapitalizedDevelopmentCosts>
    <mgic:CapitalizedDevelopmentCosts contextRef="c0" decimals="-3" unitRef="usd">3059000</mgic:CapitalizedDevelopmentCosts>
    <ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities contextRef="c114" decimals="-3" unitRef="usd">219000</ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities>
    <ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities contextRef="c0" decimals="-3" unitRef="usd">219000</ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities>
    <mgic:AcquisitionOfSubsidiariesCosts contextRef="c114" decimals="-3" unitRef="usd">11319000</mgic:AcquisitionOfSubsidiariesCosts>
    <mgic:AcquisitionOfSubsidiariesCosts contextRef="c115" decimals="-3" unitRef="usd">2707000</mgic:AcquisitionOfSubsidiariesCosts>
    <mgic:AcquisitionOfSubsidiariesCosts contextRef="c0" decimals="-3" unitRef="usd">14026000</mgic:AcquisitionOfSubsidiariesCosts>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c113" decimals="-3" unitRef="usd">-103000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c114" decimals="-3" unitRef="usd">-5055000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c115" decimals="-3" unitRef="usd">-1030000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c116" decimals="-3" unitRef="usd">-53000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c0" decimals="-3" unitRef="usd">-6241000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:GoodwillandOtherIntangibleAssetCost contextRef="c117" decimals="-3" unitRef="usd">93057000</mgic:GoodwillandOtherIntangibleAssetCost>
    <mgic:GoodwillandOtherIntangibleAssetCost contextRef="c118" decimals="-3" unitRef="usd">93134000</mgic:GoodwillandOtherIntangibleAssetCost>
    <mgic:GoodwillandOtherIntangibleAssetCost contextRef="c119" decimals="-3" unitRef="usd">20048000</mgic:GoodwillandOtherIntangibleAssetCost>
    <mgic:GoodwillandOtherIntangibleAssetCost contextRef="c120" decimals="-3" unitRef="usd">584000</mgic:GoodwillandOtherIntangibleAssetCost>
    <mgic:GoodwillandOtherIntangibleAssetCost contextRef="c2" decimals="-3" unitRef="usd">206823000</mgic:GoodwillandOtherIntangibleAssetCost>
    <mgic:AccumulatedAmortizationAndImpairment contextRef="c109" decimals="-3" unitRef="usd">79354000</mgic:AccumulatedAmortizationAndImpairment>
    <mgic:AccumulatedAmortizationAndImpairment contextRef="c110" decimals="-3" unitRef="usd">54494000</mgic:AccumulatedAmortizationAndImpairment>
    <mgic:AccumulatedAmortizationAndImpairment contextRef="c111" decimals="-3" unitRef="usd">10329000</mgic:AccumulatedAmortizationAndImpairment>
    <mgic:AccumulatedAmortizationAndImpairment contextRef="c112" decimals="-3" unitRef="usd">193000</mgic:AccumulatedAmortizationAndImpairment>
    <mgic:AccumulatedAmortizationAndImpairment contextRef="c4" decimals="-3" unitRef="usd">144370000</mgic:AccumulatedAmortizationAndImpairment>
    <mgic:AmortizationRecognized contextRef="c113" decimals="-3" unitRef="usd">3817000</mgic:AmortizationRecognized>
    <mgic:AmortizationRecognized contextRef="c114" decimals="-3" unitRef="usd">7865000</mgic:AmortizationRecognized>
    <mgic:AmortizationRecognized contextRef="c115" decimals="-3" unitRef="usd">1797000</mgic:AmortizationRecognized>
    <mgic:AmortizationRecognized contextRef="c116" decimals="-3" unitRef="usd">95000</mgic:AmortizationRecognized>
    <mgic:AmortizationRecognized contextRef="c0" decimals="-3" unitRef="usd">13574000</mgic:AmortizationRecognized>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization contextRef="c114" decimals="-3" unitRef="usd">-2930000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization contextRef="c115" decimals="-3" unitRef="usd">-244000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization contextRef="c116" decimals="-3" unitRef="usd">-4000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization contextRef="c0" decimals="-3" unitRef="usd">-3178000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization>
    <mgic:AccumulatedAmortizationAndImpairment contextRef="c117" decimals="-3" unitRef="usd">83171000</mgic:AccumulatedAmortizationAndImpairment>
    <mgic:AccumulatedAmortizationAndImpairment contextRef="c118" decimals="-3" unitRef="usd">59429000</mgic:AccumulatedAmortizationAndImpairment>
    <mgic:AccumulatedAmortizationAndImpairment contextRef="c119" decimals="-3" unitRef="usd">11882000</mgic:AccumulatedAmortizationAndImpairment>
    <mgic:AccumulatedAmortizationAndImpairment contextRef="c120" decimals="-3" unitRef="usd">284000</mgic:AccumulatedAmortizationAndImpairment>
    <mgic:AccumulatedAmortizationAndImpairment contextRef="c2" decimals="-3" unitRef="usd">154766000</mgic:AccumulatedAmortizationAndImpairment>
    <ifrs-full:CurrentFinancialAssetsAtAmortisedCost contextRef="c117" decimals="-3" unitRef="usd">9886000</ifrs-full:CurrentFinancialAssetsAtAmortisedCost>
    <ifrs-full:CurrentFinancialAssetsAtAmortisedCost contextRef="c118" decimals="-3" unitRef="usd">33705000</ifrs-full:CurrentFinancialAssetsAtAmortisedCost>
    <ifrs-full:CurrentFinancialAssetsAtAmortisedCost contextRef="c119" decimals="-3" unitRef="usd">8166000</ifrs-full:CurrentFinancialAssetsAtAmortisedCost>
    <ifrs-full:CurrentFinancialAssetsAtAmortisedCost contextRef="c120" decimals="-3" unitRef="usd">300000</ifrs-full:CurrentFinancialAssetsAtAmortisedCost>
    <ifrs-full:CurrentFinancialAssetsAtAmortisedCost contextRef="c2" decimals="-3" unitRef="usd">52057000</ifrs-full:CurrentFinancialAssetsAtAmortisedCost>
    <mgic:GoodwillandOtherIntangibleAssetCost contextRef="c121" decimals="-3" unitRef="usd">86240000</mgic:GoodwillandOtherIntangibleAssetCost>
    <mgic:GoodwillandOtherIntangibleAssetCost contextRef="c122" decimals="-3" unitRef="usd">78750000</mgic:GoodwillandOtherIntangibleAssetCost>
    <mgic:GoodwillandOtherIntangibleAssetCost contextRef="c123" decimals="-3" unitRef="usd">18052000</mgic:GoodwillandOtherIntangibleAssetCost>
    <mgic:GoodwillandOtherIntangibleAssetCost contextRef="c124" decimals="-3" unitRef="usd">616000</mgic:GoodwillandOtherIntangibleAssetCost>
    <mgic:GoodwillandOtherIntangibleAssetCost contextRef="c26" decimals="-3" unitRef="usd">183658000</mgic:GoodwillandOtherIntangibleAssetCost>
    <mgic:CapitalizedDevelopmentCosts contextRef="c125" decimals="-3" unitRef="usd">3193000</mgic:CapitalizedDevelopmentCosts>
    <mgic:CapitalizedDevelopmentCosts contextRef="c5" decimals="-3" unitRef="usd">3193000</mgic:CapitalizedDevelopmentCosts>
    <mgic:AcquisitionOfSubsidiariesCosts contextRef="c126" decimals="-3" unitRef="usd">6445000</mgic:AcquisitionOfSubsidiariesCosts>
    <mgic:AcquisitionOfSubsidiariesCosts contextRef="c5" decimals="-3" unitRef="usd">6445000</mgic:AcquisitionOfSubsidiariesCosts>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c125" decimals="-3" unitRef="usd">668000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c126" decimals="-3" unitRef="usd">1456000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c127" decimals="-3" unitRef="usd">319000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c128" decimals="-3" unitRef="usd">21000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c5" decimals="-3" unitRef="usd">2464000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:GoodwillandOtherIntangibleAssetCost contextRef="c109" decimals="-3" unitRef="usd">90101000</mgic:GoodwillandOtherIntangibleAssetCost>
    <mgic:GoodwillandOtherIntangibleAssetCost contextRef="c110" decimals="-3" unitRef="usd">86651000</mgic:GoodwillandOtherIntangibleAssetCost>
    <mgic:GoodwillandOtherIntangibleAssetCost contextRef="c111" decimals="-3" unitRef="usd">18371000</mgic:GoodwillandOtherIntangibleAssetCost>
    <mgic:GoodwillandOtherIntangibleAssetCost contextRef="c112" decimals="-3" unitRef="usd">637000</mgic:GoodwillandOtherIntangibleAssetCost>
    <mgic:GoodwillandOtherIntangibleAssetCost contextRef="c4" decimals="-3" unitRef="usd">195760000</mgic:GoodwillandOtherIntangibleAssetCost>
    <mgic:AccumulatedAmortizationAndImpairment contextRef="c121" decimals="-3" unitRef="usd">74841000</mgic:AccumulatedAmortizationAndImpairment>
    <mgic:AccumulatedAmortizationAndImpairment contextRef="c122" decimals="-3" unitRef="usd">46621000</mgic:AccumulatedAmortizationAndImpairment>
    <mgic:AccumulatedAmortizationAndImpairment contextRef="c123" decimals="-3" unitRef="usd">8720000</mgic:AccumulatedAmortizationAndImpairment>
    <mgic:AccumulatedAmortizationAndImpairment contextRef="c124" decimals="-3" unitRef="usd">72000</mgic:AccumulatedAmortizationAndImpairment>
    <mgic:AccumulatedAmortizationAndImpairment contextRef="c26" decimals="-3" unitRef="usd">130254000</mgic:AccumulatedAmortizationAndImpairment>
    <mgic:AmortizationRecognized contextRef="c125" decimals="-3" unitRef="usd">4513000</mgic:AmortizationRecognized>
    <mgic:AmortizationRecognized contextRef="c126" decimals="-3" unitRef="usd">6962000</mgic:AmortizationRecognized>
    <mgic:AmortizationRecognized contextRef="c127" decimals="-3" unitRef="usd">1468000</mgic:AmortizationRecognized>
    <mgic:AmortizationRecognized contextRef="c128" decimals="-3" unitRef="usd">111000</mgic:AmortizationRecognized>
    <mgic:AmortizationRecognized contextRef="c5" decimals="-3" unitRef="usd">13054000</mgic:AmortizationRecognized>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization contextRef="c126" decimals="-3" unitRef="usd">911000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization contextRef="c127" decimals="-3" unitRef="usd">140000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization contextRef="c128" decimals="-3" unitRef="usd">11000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization contextRef="c5" decimals="-3" unitRef="usd">1062000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperationsAmortization>
    <mgic:AccumulatedAmortizationAndImpairment contextRef="c109" decimals="-3" unitRef="usd">79354000</mgic:AccumulatedAmortizationAndImpairment>
    <mgic:AccumulatedAmortizationAndImpairment contextRef="c110" decimals="-3" unitRef="usd">54494000</mgic:AccumulatedAmortizationAndImpairment>
    <mgic:AccumulatedAmortizationAndImpairment contextRef="c111" decimals="-3" unitRef="usd">10329000</mgic:AccumulatedAmortizationAndImpairment>
    <mgic:AccumulatedAmortizationAndImpairment contextRef="c112" decimals="-3" unitRef="usd">193000</mgic:AccumulatedAmortizationAndImpairment>
    <mgic:AccumulatedAmortizationAndImpairment contextRef="c4" decimals="-3" unitRef="usd">144370000</mgic:AccumulatedAmortizationAndImpairment>
    <ifrs-full:CurrentFinancialAssetsAtAmortisedCost contextRef="c109" decimals="-3" unitRef="usd">10747000</ifrs-full:CurrentFinancialAssetsAtAmortisedCost>
    <ifrs-full:CurrentFinancialAssetsAtAmortisedCost contextRef="c110" decimals="-3" unitRef="usd">32157000</ifrs-full:CurrentFinancialAssetsAtAmortisedCost>
    <ifrs-full:CurrentFinancialAssetsAtAmortisedCost contextRef="c111" decimals="-3" unitRef="usd">8042000</ifrs-full:CurrentFinancialAssetsAtAmortisedCost>
    <ifrs-full:CurrentFinancialAssetsAtAmortisedCost contextRef="c112" decimals="-3" unitRef="usd">444000</ifrs-full:CurrentFinancialAssetsAtAmortisedCost>
    <ifrs-full:CurrentFinancialAssetsAtAmortisedCost contextRef="c4" decimals="-3" unitRef="usd">51390000</ifrs-full:CurrentFinancialAssetsAtAmortisedCost>
    <ifrs-full:CurrentFinancialAssetsAtAmortisedCost contextRef="c129" decimals="-3" unitRef="usd">11399000</ifrs-full:CurrentFinancialAssetsAtAmortisedCost>
    <ifrs-full:CurrentFinancialAssetsAtAmortisedCost contextRef="c130" decimals="-3" unitRef="usd">32129000</ifrs-full:CurrentFinancialAssetsAtAmortisedCost>
    <ifrs-full:CurrentFinancialAssetsAtAmortisedCost contextRef="c131" decimals="-3" unitRef="usd">9332000</ifrs-full:CurrentFinancialAssetsAtAmortisedCost>
    <ifrs-full:CurrentFinancialAssetsAtAmortisedCost contextRef="c132" decimals="-3" unitRef="usd">544000</ifrs-full:CurrentFinancialAssetsAtAmortisedCost>
    <ifrs-full:CurrentFinancialAssetsAtAmortisedCost contextRef="c3" decimals="-3" unitRef="usd">53404000</ifrs-full:CurrentFinancialAssetsAtAmortisedCost>
    <ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold; text-align: center"&gt;Year ended December&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 80%; text-align: justify"&gt;Cost of revenues&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;6,068&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;5,405&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Selling and marketing expenses&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;6,968&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;8,169&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;13,054&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;13,574&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;</ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory>
    <mgic:CostsOfRevenue contextRef="c5" decimals="-3" unitRef="usd">6068000</mgic:CostsOfRevenue>
    <mgic:CostsOfRevenue contextRef="c0" decimals="-3" unitRef="usd">5405000</mgic:CostsOfRevenue>
    <ifrs-full:SellingGeneralAndAdministrativeExpense contextRef="c5" decimals="-3" unitRef="usd">6968000</ifrs-full:SellingGeneralAndAdministrativeExpense>
    <ifrs-full:SellingGeneralAndAdministrativeExpense contextRef="c0" decimals="-3" unitRef="usd">8169000</ifrs-full:SellingGeneralAndAdministrativeExpense>
    <mgic:IntangibleAssets contextRef="c5" decimals="-3" unitRef="usd">13054000</mgic:IntangibleAssets>
    <mgic:IntangibleAssets contextRef="c0" decimals="-3" unitRef="usd">13574000</mgic:IntangibleAssets>
    <mgic:DisclosureOfIntangibleAssetsByReportableSegmentExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;IT &lt;br/&gt; professional&lt;br/&gt; services&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Software&lt;br/&gt; services&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 70%; text-align: justify"&gt;Capitalized Software development costs&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;1,079&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;8,807&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; text-align: right"&gt;9,886&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;Customer relationship&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;22,373&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;11,332&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;33,705&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;Acquired technology&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,751&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,415&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,166&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: justify"&gt;Others&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-77"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;300&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;300&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: justify"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;25,203&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;26,854&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;52,057&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt"&gt;&lt;span style="font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;</mgic:DisclosureOfIntangibleAssetsByReportableSegmentExplanatory>
    <mgic:CapitalizedSoftwareDevelopmentCosts contextRef="c133" decimals="-3" unitRef="usd">1079000</mgic:CapitalizedSoftwareDevelopmentCosts>
    <mgic:CapitalizedSoftwareDevelopmentCosts contextRef="c134" decimals="-3" unitRef="usd">8807000</mgic:CapitalizedSoftwareDevelopmentCosts>
    <mgic:CapitalizedSoftwareDevelopmentCosts contextRef="c2" decimals="-3" unitRef="usd">9886000</mgic:CapitalizedSoftwareDevelopmentCosts>
    <mgic:CustomerRelationship contextRef="c133" decimals="-3" unitRef="usd">22373000</mgic:CustomerRelationship>
    <mgic:CustomerRelationship contextRef="c134" decimals="-3" unitRef="usd">11332000</mgic:CustomerRelationship>
    <mgic:CustomerRelationship contextRef="c2" decimals="-3" unitRef="usd">33705000</mgic:CustomerRelationship>
    <mgic:AcquiredTechnology contextRef="c133" decimals="-3" unitRef="usd">1751000</mgic:AcquiredTechnology>
    <mgic:AcquiredTechnology contextRef="c134" decimals="-3" unitRef="usd">6415000</mgic:AcquiredTechnology>
    <mgic:AcquiredTechnology contextRef="c2" decimals="-3" unitRef="usd">8166000</mgic:AcquiredTechnology>
    <ifrs-full:OtherIntangibleAssets contextRef="c134" decimals="-3" unitRef="usd">300000</ifrs-full:OtherIntangibleAssets>
    <ifrs-full:OtherIntangibleAssets contextRef="c2" decimals="-3" unitRef="usd">300000</ifrs-full:OtherIntangibleAssets>
    <ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill contextRef="c135" decimals="-3" unitRef="usd">25203000</ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill>
    <ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill contextRef="c136" decimals="-3" unitRef="usd">26854000</ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill>
    <ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill contextRef="c0" decimals="-3" unitRef="usd">52057000</ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill>
    <ifrs-full:DisclosureOfIntangibleAssetsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 88%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;2023&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;13,011&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;2024&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;11,075&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;2025&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;9,048&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;2026&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;7,162&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;2027 and thereafter&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;11,761&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;52,057&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfIntangibleAssetsExplanatory>
    <mgic:EstimatedFutureAmortizationExpensesOne contextRef="c2" decimals="-3" unitRef="usd">13011000</mgic:EstimatedFutureAmortizationExpensesOne>
    <mgic:EstimatedFutureAmortizationExpensesTwo contextRef="c2" decimals="-3" unitRef="usd">11075000</mgic:EstimatedFutureAmortizationExpensesTwo>
    <mgic:EstimatedFutureAmortizationExpensesThree contextRef="c2" decimals="-3" unitRef="usd">9048000</mgic:EstimatedFutureAmortizationExpensesThree>
    <mgic:EstimatedFutureAmortizationExpensesFour contextRef="c2" decimals="-3" unitRef="usd">7162000</mgic:EstimatedFutureAmortizationExpensesFour>
    <mgic:EstimatedFutureAmortizationExpensesFiveAndThereafter contextRef="c2" decimals="-3" unitRef="usd">11761000</mgic:EstimatedFutureAmortizationExpensesFiveAndThereafter>
    <mgic:EstimatedFutureAmortizationExpenses contextRef="c2" decimals="-3" unitRef="usd">52057000</mgic:EstimatedFutureAmortizationExpenses>
    <ifrs-full:DisclosureOfGoodwillExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"/&gt;&lt;td style="width: 0.75in; text-align: left"&gt;&lt;span style="text-transform: uppercase"&gt;Note&lt;/span&gt;
                           9:- &lt;/td&gt;&lt;td style="text-align: justify"&gt;GOODWILL&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt"&gt;&lt;span style="font-size: 6pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;The following table summarizes
the changes in the carrying amount of goodwill for the years ended December 31, 2021 and 2022:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&lt;span style="font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;IT &lt;br/&gt; professional&lt;br/&gt; services&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Software&lt;br/&gt; services&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;As of January 1, 2021&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;69,346&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;66,336&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;135,682&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Acquisition of subsidiaries&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,068&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,477&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,545&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Measurement period adjustments&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;321&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;558&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;879&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Foreign currency translation adjustments&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;868&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;829&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,697&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;As of December 31, 2021&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;75,603&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;71,200&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;146,803&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;Acquisition of subsidiaries&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;19,622&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,705&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;22,327&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td&gt;Measurement period adjustments&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(902&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(176&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,078&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Foreign currency translation adjustments&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(4,326&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(5,027&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(9,353&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-bottom: 4pt"&gt;As of December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;89,997&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;68,702&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;158,699&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&lt;span style="font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"&gt;The Company performed
annual impairment tests as of January 1, 2021 as well as December 31, 2021 and 2022 and did not identify any impairment losses (see Note
2).&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"&gt;The goodwill is allocated
to both the IT Professional Services and Software Services segments, which represent the lowest level within the Company at which goodwill
is monitored for internal management purposes.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"&gt;Impairment test of
goodwill for the year ended on December 31, 2022:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"&gt;Impairment loss for
goodwill is recognized if the recoverable amount of the goodwill is less than the carrying amount. The recoverable amount is the greater
of fair value less costs of disposal, or value in use of the relevant reporting level (i.e. a CGU of a group of CGU&#x2019;s).&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"&gt;The Company performed
an assessment for goodwill impairment for both of its segments, which is the level at which goodwill is monitored for internal management
purposes and concluded that there is no impairment loss for the year ended December 31, 2022, based on the assumptions presented below:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;IT &lt;br/&gt; professional&lt;br/&gt; services&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Software&lt;br/&gt; services&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: justify"&gt;Carrying amount&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;185,549&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;85,325&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;Weighted average cost of capital&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;14.2&lt;/td&gt;&lt;td style="text-align: left"&gt;%&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;13.4&lt;/td&gt;&lt;td style="text-align: left"&gt;%&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;Terminal value growth rate&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3&lt;/td&gt;&lt;td style="text-align: left"&gt;%&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3&lt;/td&gt;&lt;td style="text-align: left"&gt;%&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"&gt;&lt;span style="background-color: white"&gt;Actual
results may differ from those assumed in the Company&#x2019;s valuation method. It is reasonably possible that the Company&#x2019;s assumptions
described above could change in future periods. If any of these were to vary materially from the Company&#x2019;s plans, it may record
impairment of goodwill allocated to this reporting unit in the future. &lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt; text-align: justify; text-indent: 15pt; background-color: white"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"&gt;&lt;span style="background-color: white"&gt;Based
on the Company&#x2019;s abovementioned assessment as of December 31, 2022, no goodwill was determined to be impaired, since the fair value
of the Company&#x2019;s group of cash-generating units significantly exceeded their carrying amount.&lt;/span&gt;&lt;/p&gt;</ifrs-full:DisclosureOfGoodwillExplanatory>
    <ifrs-full:DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;IT &lt;br/&gt; professional&lt;br/&gt; services&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Software&lt;br/&gt; services&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;As of January 1, 2021&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;69,346&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;66,336&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;135,682&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Acquisition of subsidiaries&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,068&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,477&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,545&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Measurement period adjustments&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;321&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;558&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;879&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Foreign currency translation adjustments&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;868&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;829&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,697&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;As of December 31, 2021&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;75,603&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;71,200&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;146,803&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;Acquisition of subsidiaries&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;19,622&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,705&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;22,327&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td&gt;Measurement period adjustments&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(902&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(176&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,078&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Foreign currency translation adjustments&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(4,326&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(5,027&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(9,353&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-bottom: 4pt"&gt;As of December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;89,997&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;68,702&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;158,699&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&lt;span style="font-size: 10pt"&gt;&#160;&lt;/span&gt;&lt;/p&gt;</ifrs-full:DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsExplanatory>
    <ifrs-full:IntangibleAssetsOtherThanGoodwill contextRef="c137" decimals="0" unitRef="usd">69346</ifrs-full:IntangibleAssetsOtherThanGoodwill>
    <ifrs-full:IntangibleAssetsOtherThanGoodwill contextRef="c138" decimals="0" unitRef="usd">66336</ifrs-full:IntangibleAssetsOtherThanGoodwill>
    <ifrs-full:IntangibleAssetsOtherThanGoodwill contextRef="c26" decimals="0" unitRef="usd">135682</ifrs-full:IntangibleAssetsOtherThanGoodwill>
    <mgic:AcquisitionsOfSubsidiaries contextRef="c139" decimals="0" unitRef="usd">5068</mgic:AcquisitionsOfSubsidiaries>
    <mgic:AcquisitionsOfSubsidiaries contextRef="c140" decimals="0" unitRef="usd">3477</mgic:AcquisitionsOfSubsidiaries>
    <mgic:AcquisitionsOfSubsidiaries contextRef="c5" decimals="0" unitRef="usd">8545</mgic:AcquisitionsOfSubsidiaries>
    <ifrs-full:AdjustmentsForCurrentTaxOfPriorPeriod contextRef="c139" decimals="0" unitRef="usd">321</ifrs-full:AdjustmentsForCurrentTaxOfPriorPeriod>
    <ifrs-full:AdjustmentsForCurrentTaxOfPriorPeriod contextRef="c140" decimals="0" unitRef="usd">558</ifrs-full:AdjustmentsForCurrentTaxOfPriorPeriod>
    <ifrs-full:AdjustmentsForCurrentTaxOfPriorPeriod contextRef="c5" decimals="0" unitRef="usd">879</ifrs-full:AdjustmentsForCurrentTaxOfPriorPeriod>
    <ifrs-full:OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads contextRef="c139" decimals="0" unitRef="usd">868</ifrs-full:OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads>
    <ifrs-full:OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads contextRef="c140" decimals="0" unitRef="usd">829</ifrs-full:OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads>
    <ifrs-full:OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads contextRef="c5" decimals="0" unitRef="usd">1697</ifrs-full:OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads>
    <ifrs-full:IntangibleAssetsOtherThanGoodwill contextRef="c141" decimals="0" unitRef="usd">75603</ifrs-full:IntangibleAssetsOtherThanGoodwill>
    <ifrs-full:IntangibleAssetsOtherThanGoodwill contextRef="c142" decimals="0" unitRef="usd">71200</ifrs-full:IntangibleAssetsOtherThanGoodwill>
    <ifrs-full:IntangibleAssetsOtherThanGoodwill contextRef="c4" decimals="0" unitRef="usd">146803</ifrs-full:IntangibleAssetsOtherThanGoodwill>
    <mgic:AcquisitionsOfSubsidiaries contextRef="c143" decimals="0" unitRef="usd">19622</mgic:AcquisitionsOfSubsidiaries>
    <mgic:AcquisitionsOfSubsidiaries contextRef="c144" decimals="0" unitRef="usd">2705</mgic:AcquisitionsOfSubsidiaries>
    <mgic:AcquisitionsOfSubsidiaries contextRef="c0" decimals="0" unitRef="usd">22327</mgic:AcquisitionsOfSubsidiaries>
    <ifrs-full:AdjustmentsForCurrentTaxOfPriorPeriod contextRef="c143" decimals="0" unitRef="usd">-902</ifrs-full:AdjustmentsForCurrentTaxOfPriorPeriod>
    <ifrs-full:AdjustmentsForCurrentTaxOfPriorPeriod contextRef="c144" decimals="0" unitRef="usd">-176</ifrs-full:AdjustmentsForCurrentTaxOfPriorPeriod>
    <ifrs-full:AdjustmentsForCurrentTaxOfPriorPeriod contextRef="c0" decimals="0" unitRef="usd">-1078</ifrs-full:AdjustmentsForCurrentTaxOfPriorPeriod>
    <ifrs-full:OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads contextRef="c143" decimals="0" unitRef="usd">-4326</ifrs-full:OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads>
    <ifrs-full:OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads contextRef="c144" decimals="0" unitRef="usd">-5027</ifrs-full:OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads>
    <ifrs-full:OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads contextRef="c0" decimals="0" unitRef="usd">-9353</ifrs-full:OtherComprehensiveIncomeNetOfTaxChangeInValueOfForeignCurrencyBasisSpreads>
    <ifrs-full:IntangibleAssetsOtherThanGoodwill contextRef="c145" decimals="0" unitRef="usd">89997</ifrs-full:IntangibleAssetsOtherThanGoodwill>
    <ifrs-full:IntangibleAssetsOtherThanGoodwill contextRef="c146" decimals="0" unitRef="usd">68702</ifrs-full:IntangibleAssetsOtherThanGoodwill>
    <ifrs-full:IntangibleAssetsOtherThanGoodwill contextRef="c2" decimals="0" unitRef="usd">158699</ifrs-full:IntangibleAssetsOtherThanGoodwill>
    <ifrs-full:DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;IT &lt;br/&gt; professional&lt;br/&gt; services&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Software&lt;br/&gt; services&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: justify"&gt;Carrying amount&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;185,549&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;85,325&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;Weighted average cost of capital&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;14.2&lt;/td&gt;&lt;td style="text-align: left"&gt;%&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;13.4&lt;/td&gt;&lt;td style="text-align: left"&gt;%&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;Terminal value growth rate&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3&lt;/td&gt;&lt;td style="text-align: left"&gt;%&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3&lt;/td&gt;&lt;td style="text-align: left"&gt;%&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt; text-align: justify"&gt;&#160;&lt;/p&gt;</ifrs-full:DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory>
    <ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill contextRef="c143" decimals="-3" unitRef="usd">185549000</ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill>
    <ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill contextRef="c144" decimals="-3" unitRef="usd">85325000</ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill>
    <mgic:WeightedAverageCostOfCapitals contextRef="c145" decimals="3" unitRef="pure">0.142</mgic:WeightedAverageCostOfCapitals>
    <mgic:WeightedAverageCostOfCapitals contextRef="c146" decimals="3" unitRef="pure">0.134</mgic:WeightedAverageCostOfCapitals>
    <mgic:TerminalValueGrowthRate contextRef="c145" decimals="2" unitRef="pure">0.03</mgic:TerminalValueGrowthRate>
    <mgic:TerminalValueGrowthRate contextRef="c146" decimals="2" unitRef="pure">0.03</mgic:TerminalValueGrowthRate>
    <mgic:DisclosureOfShortTermDebtsExplanatoryTextBlock contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"/&gt;&lt;td style="width: 0.75in; text-align: left"&gt;&lt;span style="text-transform: uppercase"&gt;&lt;b&gt;Note &lt;/b&gt;&lt;/span&gt;10:-&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="text-transform: uppercase"&gt;short
                                            term DEBTs&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Interest rate&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;January 1,&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;December&#160;31,&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;December&#160;31,&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;%&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Currency&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 40%; text-align: left"&gt;Short-term loans from banks&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 11%; text-align: center"&gt;1.7-2.6&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 11%; text-align: right"&gt;NIS&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;1,328&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;4,720&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;2,449&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Current maturities of long-term loans from financial institutions and banks&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;2.1-3.3&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;NIS&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;10,202&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,551&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;9,310&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Current maturities of long-term loans from banks&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;2.1&#160;+&#160;SOFR-SOFR+2.25&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;USD&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-78"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,750&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,908&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Accrued interest on long term debt&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;2.6- 3.14&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;NIS&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;68&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;27&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;23&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Accrued interest on long term debt&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;6.07&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right; padding-bottom: 1.5pt"&gt;USD&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-79"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;60&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;65&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;11,598&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;17,108&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;20,755&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</mgic:DisclosureOfShortTermDebtsExplanatoryTextBlock>
    <mgic:ScheduleOfShortTermDebtsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Interest rate&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;January 1,&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;December&#160;31,&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;December&#160;31,&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;%&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Currency&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 40%; text-align: left"&gt;Short-term loans from banks&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 11%; text-align: center"&gt;1.7-2.6&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 11%; text-align: right"&gt;NIS&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;1,328&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;4,720&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;2,449&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Current maturities of long-term loans from financial institutions and banks&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;2.1-3.3&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;NIS&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;10,202&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,551&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;9,310&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Current maturities of long-term loans from banks&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;2.1&#160;+&#160;SOFR-SOFR+2.25&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;USD&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-78"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,750&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,908&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Accrued interest on long term debt&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;2.6- 3.14&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;NIS&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;68&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;27&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;23&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Accrued interest on long term debt&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;6.07&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right; padding-bottom: 1.5pt"&gt;USD&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-79"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;60&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;65&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: center; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;11,598&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;17,108&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;20,755&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</mgic:ScheduleOfShortTermDebtsExplanatory>
    <mgic:DebtInstrumentInterestRatesStatedPercentage contextRef="c147" decimals="3" unitRef="pure">0.017</mgic:DebtInstrumentInterestRatesStatedPercentage>
    <mgic:DebtInstrumentInterestRatesStatedPercentage contextRef="c148" decimals="3" unitRef="pure">0.026</mgic:DebtInstrumentInterestRatesStatedPercentage>
    <mgic:DerivativeCurrenciesBought contextRef="c149">NIS</mgic:DerivativeCurrenciesBought>
    <mgic:TotalShortTermBorrowings contextRef="c150" decimals="-3" unitRef="usd">1328000</mgic:TotalShortTermBorrowings>
    <mgic:TotalShortTermBorrowings contextRef="c151" decimals="-3" unitRef="usd">4720000</mgic:TotalShortTermBorrowings>
    <mgic:TotalShortTermBorrowings contextRef="c152" decimals="-3" unitRef="usd">2449000</mgic:TotalShortTermBorrowings>
    <mgic:DebtInstrumentInterestRatesStatedPercentage contextRef="c153" decimals="3" unitRef="pure">0.021</mgic:DebtInstrumentInterestRatesStatedPercentage>
    <mgic:DebtInstrumentInterestRatesStatedPercentage contextRef="c154" decimals="3" unitRef="pure">0.033</mgic:DebtInstrumentInterestRatesStatedPercentage>
    <mgic:DerivativeCurrenciesBought contextRef="c155">NIS</mgic:DerivativeCurrenciesBought>
    <mgic:TotalShortTermBorrowings contextRef="c156" decimals="-3" unitRef="usd">10202000</mgic:TotalShortTermBorrowings>
    <mgic:TotalShortTermBorrowings contextRef="c157" decimals="-3" unitRef="usd">8551000</mgic:TotalShortTermBorrowings>
    <mgic:TotalShortTermBorrowings contextRef="c158" decimals="-3" unitRef="usd">9310000</mgic:TotalShortTermBorrowings>
    <mgic:DebtInstrumentInterestRatesStatedPercentage contextRef="c159" decimals="3" unitRef="pure">0.021</mgic:DebtInstrumentInterestRatesStatedPercentage>
    <mgic:DebtInstrumentInterestRatesStatedPercentage contextRef="c160" decimals="4" unitRef="pure">0.0225</mgic:DebtInstrumentInterestRatesStatedPercentage>
    <mgic:DerivativeCurrenciesBought contextRef="c161">USD</mgic:DerivativeCurrenciesBought>
    <mgic:TotalShortTermBorrowings contextRef="c163" decimals="-3" unitRef="usd">3750000</mgic:TotalShortTermBorrowings>
    <mgic:TotalShortTermBorrowings contextRef="c164" decimals="-3" unitRef="usd">8908000</mgic:TotalShortTermBorrowings>
    <mgic:DebtInstrumentInterestRatesStatedPercentage contextRef="c165" decimals="3" unitRef="pure">0.026</mgic:DebtInstrumentInterestRatesStatedPercentage>
    <mgic:DebtInstrumentInterestRatesStatedPercentage contextRef="c166" decimals="4" unitRef="pure">0.0314</mgic:DebtInstrumentInterestRatesStatedPercentage>
    <mgic:DerivativeCurrenciesBought contextRef="c167">NIS</mgic:DerivativeCurrenciesBought>
    <mgic:TotalShortTermBorrowings contextRef="c168" decimals="-3" unitRef="usd">68000</mgic:TotalShortTermBorrowings>
    <mgic:TotalShortTermBorrowings contextRef="c169" decimals="-3" unitRef="usd">27000</mgic:TotalShortTermBorrowings>
    <mgic:TotalShortTermBorrowings contextRef="c170" decimals="-3" unitRef="usd">23000</mgic:TotalShortTermBorrowings>
    <mgic:DebtInstrumentInterestRatesStatedPercentage contextRef="c171" decimals="4" unitRef="pure">0.0607</mgic:DebtInstrumentInterestRatesStatedPercentage>
    <mgic:DerivativeCurrenciesBought contextRef="c172">USD</mgic:DerivativeCurrenciesBought>
    <mgic:TotalShortTermBorrowings contextRef="c174" decimals="-3" unitRef="usd">60000</mgic:TotalShortTermBorrowings>
    <mgic:TotalShortTermBorrowings contextRef="c171" decimals="-3" unitRef="usd">65000</mgic:TotalShortTermBorrowings>
    <mgic:TotalShortTermBorrowings contextRef="c3" decimals="-3" unitRef="usd">11598000</mgic:TotalShortTermBorrowings>
    <mgic:TotalShortTermBorrowings contextRef="c4" decimals="-3" unitRef="usd">17108000</mgic:TotalShortTermBorrowings>
    <mgic:TotalShortTermBorrowings contextRef="c2" decimals="-3" unitRef="usd">20755000</mgic:TotalShortTermBorrowings>
    <ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"/&gt;&lt;td style="width: 0.75in; text-align: left"&gt;&lt;span style="text-transform: uppercase"&gt;Note 11:-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="text-transform: uppercase"&gt;other accounts
                                            payable&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"&gt;&lt;span style="font-weight: normal; text-transform: none"&gt;Other
accounts payable are comprised of the following as of the below dates:&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"&gt;&lt;span style="font-weight: normal"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;January 1,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: justify"&gt;Employees and payroll accruals&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;28,562&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;27,826&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;29,746&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;Accrued expenses&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;7,017&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,873&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;10,239&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Government authorities and other&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;6,198&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;8,392&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;6,857&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;41,777&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;45,091&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;46,842&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory>
    <ifrs-full:DisclosureOfRedesignatedFinancialAssetsAndLiabilitiesExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;January 1,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: justify"&gt;Employees and payroll accruals&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;28,562&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;27,826&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;29,746&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;Accrued expenses&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;7,017&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,873&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;10,239&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Government authorities and other&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;6,198&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;8,392&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;6,857&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;41,777&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;45,091&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;46,842&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfRedesignatedFinancialAssetsAndLiabilitiesExplanatory>
    <ifrs-full:ShorttermEmployeeBenefitsAccruals contextRef="c3" decimals="-3" unitRef="usd">28562000</ifrs-full:ShorttermEmployeeBenefitsAccruals>
    <ifrs-full:ShorttermEmployeeBenefitsAccruals contextRef="c4" decimals="-3" unitRef="usd">27826000</ifrs-full:ShorttermEmployeeBenefitsAccruals>
    <ifrs-full:ShorttermEmployeeBenefitsAccruals contextRef="c2" decimals="-3" unitRef="usd">29746000</ifrs-full:ShorttermEmployeeBenefitsAccruals>
    <mgic:AccruedExpenses contextRef="c3" decimals="-3" unitRef="usd">7017000</mgic:AccruedExpenses>
    <mgic:AccruedExpenses contextRef="c4" decimals="-3" unitRef="usd">8873000</mgic:AccruedExpenses>
    <mgic:AccruedExpenses contextRef="c2" decimals="-3" unitRef="usd">10239000</mgic:AccruedExpenses>
    <ifrs-full:GovernmentDebtInstrumentsHeld contextRef="c3" decimals="-3" unitRef="usd">6198000</ifrs-full:GovernmentDebtInstrumentsHeld>
    <ifrs-full:GovernmentDebtInstrumentsHeld contextRef="c4" decimals="-3" unitRef="usd">8392000</ifrs-full:GovernmentDebtInstrumentsHeld>
    <ifrs-full:GovernmentDebtInstrumentsHeld contextRef="c2" decimals="-3" unitRef="usd">6857000</ifrs-full:GovernmentDebtInstrumentsHeld>
    <ifrs-full:NoncurrentFinancialAssetsAtAmortisedCost contextRef="c3" decimals="-3" unitRef="usd">41777000</ifrs-full:NoncurrentFinancialAssetsAtAmortisedCost>
    <ifrs-full:NoncurrentFinancialAssetsAtAmortisedCost contextRef="c4" decimals="-3" unitRef="usd">45091000</ifrs-full:NoncurrentFinancialAssetsAtAmortisedCost>
    <ifrs-full:NoncurrentFinancialAssetsAtAmortisedCost contextRef="c2" decimals="-3" unitRef="usd">46842000</ifrs-full:NoncurrentFinancialAssetsAtAmortisedCost>
    <ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"/&gt;&lt;td style="width: 0.75in; text-align: left"&gt;&lt;span style="text-transform: uppercase"&gt;Note&lt;/span&gt; 12:-&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="text-transform: uppercase"&gt; Long term DEBTS&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"&gt; &lt;span style="font-size: 10pt"&gt;a. Long term liabilities to banks and others are comprised of the following as of the below dates:&lt;/span&gt;&lt;/p&gt;&lt;p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt 0pt 1.5pt; font-weight: bold; text-align: center"&gt;Linkage&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="padding: 0pt 0pt 1.5pt; font-weight: bold; text-align: center"&gt;Interest&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="padding: 0pt; font-weight: bold; text-align: center"&gt;January 1,&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; padding: 0pt; font-weight: bold; text-align: center"&gt;December&#160;31,&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; font-weight: bold; text-align: center"&gt;basis&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; padding: 0pt; font-weight: bold; text-align: center"&gt;rate&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; padding: 0pt; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; padding: 0pt; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; padding: 0pt; font-weight: bold; text-align: center"&gt;2022&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding: 0pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="2" style="padding: 0pt; text-align: center"&gt;&lt;b&gt;%&lt;/b&gt;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="2" style="padding: 0pt; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="2" style="padding: 0pt; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="2" style="padding: 0pt; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding: 0pt; width: 40%; text-align: left"&gt;Loans from banks and others&lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; width: 11%; text-align: center"&gt;NIS&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; width: 1%; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; width: 9%; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;2.1 &#x2013; 5&lt;/span&gt;&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="padding: 0pt; width: 9%; text-align: right"&gt;23,466&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="padding: 0pt; width: 9%; text-align: right"&gt;17,388&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="padding: 0pt; width: 9%; text-align: right"&gt;12,161&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="vertical-align: top; padding: 0pt; text-align: left"&gt;Bank loans&lt;sup&gt;(2)&lt;/sup&gt;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: center"&gt;USD&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;2.1&#160;+&#160;SOFR-SOFR+2.25&lt;/span&gt;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-80"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right"&gt;15,000&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right"&gt;36,408&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding: 0pt; text-align: left"&gt;Other long term debts&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: center"&gt;JPY&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: center"&gt;1.9&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right"&gt;88&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right"&gt;68&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right"&gt;61&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left"&gt;$&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right"&gt;23,554&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: right"&gt;32,456&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: right"&gt;48,630&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding: 0pt; text-align: left"&gt;Less current maturities&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: center"&gt;NIS, USD&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right"&gt;(10,202&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: right"&gt;(12,301&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: right"&gt;(18,218&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left"&gt;$&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right"&gt;13,352&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; padding: 0pt; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; padding: 0pt; text-align: right"&gt;20,155&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; padding: 0pt; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; padding: 0pt; text-align: right"&gt;30,412&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"&gt;&#160;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"&gt; &lt;span style="font-size: 10pt"&gt;b. Maturity dates:&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"&gt;January 1,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December 31,&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: justify"&gt;First year (Current maturities)&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;10,202&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;12,301&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;18,218&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;Second year&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,572&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;10,891&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;10,043&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;Third year&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,484&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,462&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;9,818&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;Fourth year&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;148&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,203&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,000&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Fifth year and thereafter&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;148&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;599&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;5,551&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;23,554&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;32,456&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;48,630&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;On March 31, 2022,
the Company obtained a loan in the amount of $ 25,000 from an Israeli bank. The principal amount of the loan is payable in five equal
annual installments with the final payment due on March 31, 2027 and bears a fixed interest rate of SOFR + 2.25% per annum. The interest
is paid on a quarterly basis.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"&gt; &lt;span style="font-size: 10pt"&gt;c. Financial Covenants:&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Under the terms of the Loan, the Company
has undertaken to maintain the following financial covenants, as they will be expressed in its consolidated financial statements, as described:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0.75in; text-align: justify; font-size: 10pt"&gt;&#160;&lt;/td&gt; &lt;td style="width: 0.25in; text-align: justify; font-size: 10pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;a.&lt;/span&gt;&lt;/td&gt; &lt;td style="text-align: justify; font-size: 10pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Total equity attributable to Magic Software Enterprises shareholders shall not be lower than $ 100,000 at all times;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0.75in; text-align: justify"&gt;&#160;&lt;/td&gt; &lt;td style="width: 0.25in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;b.&lt;/span&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The Company&#x2019;s consolidated cash and cash equivalent and marketable securities available for sales shall not be less than $ 10,000;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0.75in; text-align: justify"&gt;&#160;&lt;/td&gt; &lt;td style="width: 0.25in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;c.&lt;/span&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The ratio of the Company&#x2019;s consolidated total financial debts to consolidated total assets will not exceed 50%;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td style="width: 0.75in; text-align: justify"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.25in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;d.&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The ratio of the Company&#x2019;s total financial debts less cash, short-term deposits and short-term marketable securities to the annual EBITDA will not exceed 3.25 to 1; and&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td style="width: 0.75in; text-align: justify"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.25in; text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;e.&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The Company shall not create any pledge on all of its property and assets in favor of any third party without the financial institution&#x2019;s consent.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;As of December 31, 2022, the Company was
in compliance with the financial covenants.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;On March 27, 2023,
the Company entered into a loan agreement with an Israeli bank, pursuant to which, the Company borrowed $20,000 for a four-year term
(the &#x201c;Bank Loan&#x201d;). The Bank Loan will mature on March 27, 2027, and will be repaid in four (4) equal annual instalments of
$6,052 (including interest) starting March 27, 2024. The Bank Loan bears interest at the rate SOFR + 3.38%. The Bank Loan, which may be
prepaid under certain circumstances, is subject to various financial covenants which mainly consist of the following:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.25in"&gt;&lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;This is comprised of a loan obtained by the Company
on November 2016 in the amount of $ 31,356. The loan is linked to the New Israel Shekel, and was obtained from an Israeli financial institution
(&#x201c;the Loan&#x201d;). The principal amount of the loan is payable in seven equal annual installments with the final payment due on
November 2, 2023 and bears a fixed interest rate of 2.60% per annum, payable in two semi-annual payments.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.25in"&gt;&lt;sup&gt;(2)&lt;/sup&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;On June 1, 2021, the Company obtained a loan in the amount of $ 15,000 from an Israeli bank. The principal
amount of the loan is payable in eight equal semi-annual installments with the final payment due on December 1, 2025 and bears a fixed interest
rate of SOFR + 2.1% per annum, payable in two semi-annual payments.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;a.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Our equity will not be lower than &lt;span style="-sec-ix-hidden: hidden-fact-81"&gt;$1&lt;/span&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;50
&lt;/span&gt;million (one hundred fifty million U.S. Dollars at all times);&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;b.&lt;/td&gt;&lt;td style="text-align: justify"&gt;The ratio of the total financial debts less cash to total
assets will not exceed 30%;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td style="width: 0.75in"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 24px; text-align: justify"&gt;c.&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;The ratio of the total financial debts less cash and short-term deposits to the annual EBITDA will not exceed 3.25 to 1;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"&gt;To date, the Company
is in full compliance with the financial covenants of the Bank Loan.&lt;/p&gt;</ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory>
    <mgic:ScheduleOfLongTermLiabilitiesTableTextBlock contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt 0pt 1.5pt; font-weight: bold; text-align: center"&gt;Linkage&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="padding: 0pt 0pt 1.5pt; font-weight: bold; text-align: center"&gt;Interest&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="padding: 0pt; font-weight: bold; text-align: center"&gt;January 1,&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; padding: 0pt; font-weight: bold; text-align: center"&gt;December&#160;31,&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; font-weight: bold; text-align: center"&gt;basis&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; padding: 0pt; font-weight: bold; text-align: center"&gt;rate&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; padding: 0pt; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; padding: 0pt; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; padding: 0pt; font-weight: bold; text-align: center"&gt;2022&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding: 0pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="2" style="padding: 0pt; text-align: center"&gt;&lt;b&gt;%&lt;/b&gt;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="2" style="padding: 0pt; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="2" style="padding: 0pt; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="2" style="padding: 0pt; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding: 0pt; width: 40%; text-align: left"&gt;Loans from banks and others&lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; width: 11%; text-align: center"&gt;NIS&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; width: 1%; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; width: 9%; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;2.1 &#x2013; 5&lt;/span&gt;&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="padding: 0pt; width: 9%; text-align: right"&gt;23,466&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="padding: 0pt; width: 9%; text-align: right"&gt;17,388&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="padding: 0pt; width: 9%; text-align: right"&gt;12,161&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="vertical-align: top; padding: 0pt; text-align: left"&gt;Bank loans&lt;sup&gt;(2)&lt;/sup&gt;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: center"&gt;USD&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;2.1&#160;+&#160;SOFR-SOFR+2.25&lt;/span&gt;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-80"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right"&gt;15,000&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right"&gt;36,408&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding: 0pt; text-align: left"&gt;Other long term debts&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: center"&gt;JPY&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: center"&gt;1.9&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right"&gt;88&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right"&gt;68&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right"&gt;61&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left"&gt;$&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right"&gt;23,554&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: right"&gt;32,456&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: right"&gt;48,630&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding: 0pt; text-align: left"&gt;Less current maturities&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: center"&gt;NIS, USD&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right"&gt;(10,202&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: right"&gt;(12,301&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: right"&gt;(18,218&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left"&gt;$&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right"&gt;13,352&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; padding: 0pt; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; padding: 0pt; text-align: right"&gt;20,155&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; padding: 0pt; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; padding: 0pt; text-align: right"&gt;30,412&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-indent: 0in"&gt;&#160;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.25in"&gt;&lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif"&gt;This is comprised of a loan obtained by the Company
on November 2016 in the amount of $ 31,356. The loan is linked to the New Israel Shekel, and was obtained from an Israeli financial institution
(&#x201c;the Loan&#x201d;). The principal amount of the loan is payable in seven equal annual installments with the final payment due on
November 2, 2023 and bears a fixed interest rate of 2.60% per annum, payable in two semi-annual payments.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.25in"&gt;&lt;sup&gt;(2)&lt;/sup&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;On June 1, 2021, the Company obtained a loan in the amount of $ 15,000 from an Israeli bank. The principal
amount of the loan is payable in eight equal semi-annual installments with the final payment due on December 1, 2025 and bears a fixed interest
rate of SOFR + 2.1% per annum, payable in two semi-annual payments.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;</mgic:ScheduleOfLongTermLiabilitiesTableTextBlock>
    <mgic:DerivativeCurrenciesBought contextRef="c181" id="ix_0_fact">NIS</mgic:DerivativeCurrenciesBought>
    <mgic:DebtInstrumentInterestRatesStatedPercentage
      contextRef="c182"
      decimals="3"
      id="ix_1_fact"
      unitRef="pure">0.021</mgic:DebtInstrumentInterestRatesStatedPercentage>
    <mgic:DebtInstrumentInterestRatesStatedPercentage
      contextRef="c183"
      decimals="2"
      id="ix_2_fact"
      unitRef="pure">0.05</mgic:DebtInstrumentInterestRatesStatedPercentage>
    <mgic:TotalLongTermBorrowings
      contextRef="c184"
      decimals="-3"
      id="ix_3_fact"
      unitRef="usd">23466000</mgic:TotalLongTermBorrowings>
    <mgic:TotalLongTermBorrowings
      contextRef="c185"
      decimals="-3"
      id="ix_4_fact"
      unitRef="usd">17388000</mgic:TotalLongTermBorrowings>
    <mgic:TotalLongTermBorrowings
      contextRef="c186"
      decimals="-3"
      id="ix_5_fact"
      unitRef="usd">12161000</mgic:TotalLongTermBorrowings>
    <mgic:DerivativeCurrenciesBought contextRef="c187" id="ix_6_fact">USD</mgic:DerivativeCurrenciesBought>
    <mgic:DebtInstrumentInterestRatesStatedPercentage
      contextRef="c188"
      decimals="3"
      id="ix_7_fact"
      unitRef="pure">0.021</mgic:DebtInstrumentInterestRatesStatedPercentage>
    <mgic:DebtInstrumentInterestRatesStatedPercentage
      contextRef="c189"
      decimals="4"
      id="ix_8_fact"
      unitRef="pure">0.0225</mgic:DebtInstrumentInterestRatesStatedPercentage>
    <mgic:TotalLongTermBorrowings
      contextRef="c191"
      decimals="-3"
      id="ix_9_fact"
      unitRef="usd">15000000</mgic:TotalLongTermBorrowings>
    <mgic:TotalLongTermBorrowings
      contextRef="c192"
      decimals="-3"
      id="ix_10_fact"
      unitRef="usd">36408000</mgic:TotalLongTermBorrowings>
    <mgic:DerivativeCurrenciesBought contextRef="c193">JPY</mgic:DerivativeCurrenciesBought>
    <mgic:DebtInstrumentInterestRatesStatedPercentage contextRef="c194" decimals="3" unitRef="pure">0.019</mgic:DebtInstrumentInterestRatesStatedPercentage>
    <mgic:TotalLongTermBorrowings contextRef="c195" decimals="-3" unitRef="usd">88000</mgic:TotalLongTermBorrowings>
    <mgic:TotalLongTermBorrowings contextRef="c196" decimals="-3" unitRef="usd">68000</mgic:TotalLongTermBorrowings>
    <mgic:TotalLongTermBorrowings contextRef="c194" decimals="-3" unitRef="usd">61000</mgic:TotalLongTermBorrowings>
    <mgic:TotalLongTermBorrowings contextRef="c197" decimals="-3" unitRef="usd">23554000</mgic:TotalLongTermBorrowings>
    <mgic:TotalLongTermBorrowings contextRef="c198" decimals="-3" unitRef="usd">32456000</mgic:TotalLongTermBorrowings>
    <mgic:TotalLongTermBorrowings contextRef="c199" decimals="-3" unitRef="usd">48630000</mgic:TotalLongTermBorrowings>
    <mgic:DerivativeCurrenciesBought contextRef="c200">NIS, USD</mgic:DerivativeCurrenciesBought>
    <mgic:TotalLongTermBorrowings contextRef="c201" decimals="-3" unitRef="usd">-10202000</mgic:TotalLongTermBorrowings>
    <mgic:TotalLongTermBorrowings contextRef="c202" decimals="-3" unitRef="usd">-12301000</mgic:TotalLongTermBorrowings>
    <mgic:TotalLongTermBorrowings contextRef="c203" decimals="-3" unitRef="usd">-18218000</mgic:TotalLongTermBorrowings>
    <mgic:TotalLongTermBorrowings contextRef="c3" decimals="-3" unitRef="usd">13352000</mgic:TotalLongTermBorrowings>
    <mgic:TotalLongTermBorrowings contextRef="c4" decimals="-3" unitRef="usd">20155000</mgic:TotalLongTermBorrowings>
    <mgic:TotalLongTermBorrowings contextRef="c2" decimals="-3" unitRef="usd">30412000</mgic:TotalLongTermBorrowings>
    <mgic:ScheduleOfMaturityDatesTableTextBlock contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"&gt;January 1,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December 31,&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: justify"&gt;First year (Current maturities)&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;10,202&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;12,301&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;18,218&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;Second year&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,572&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;10,891&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;10,043&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;Third year&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,484&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,462&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;9,818&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;Fourth year&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;148&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,203&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,000&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Fifth year and thereafter&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;148&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;599&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;5,551&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;23,554&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;32,456&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;48,630&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;</mgic:ScheduleOfMaturityDatesTableTextBlock>
    <mgic:FirstYearCurrentMaturities contextRef="c59" decimals="-3" unitRef="usd">10202000</mgic:FirstYearCurrentMaturities>
    <mgic:FirstYearCurrentMaturities contextRef="c5" decimals="-3" unitRef="usd">12301000</mgic:FirstYearCurrentMaturities>
    <mgic:FirstYearCurrentMaturities contextRef="c0" decimals="-3" unitRef="usd">18218000</mgic:FirstYearCurrentMaturities>
    <mgic:SecondYear contextRef="c59" decimals="-3" unitRef="usd">6572000</mgic:SecondYear>
    <mgic:SecondYear contextRef="c5" decimals="-3" unitRef="usd">10891000</mgic:SecondYear>
    <mgic:SecondYear contextRef="c0" decimals="-3" unitRef="usd">10043000</mgic:SecondYear>
    <mgic:ThirdYearinShares contextRef="c59" decimals="-3" unitRef="usd">6484000</mgic:ThirdYearinShares>
    <mgic:ThirdYearinShares contextRef="c5" decimals="-3" unitRef="usd">4462000</mgic:ThirdYearinShares>
    <mgic:ThirdYearinShares contextRef="c0" decimals="-3" unitRef="usd">9818000</mgic:ThirdYearinShares>
    <mgic:FourthYear contextRef="c59" decimals="-3" unitRef="usd">148000</mgic:FourthYear>
    <mgic:FourthYear contextRef="c5" decimals="-3" unitRef="usd">4203000</mgic:FourthYear>
    <mgic:FourthYear contextRef="c0" decimals="-3" unitRef="usd">5000000</mgic:FourthYear>
    <mgic:FifthYearAndThereafter contextRef="c59" decimals="-3" unitRef="usd">148000</mgic:FifthYearAndThereafter>
    <mgic:FifthYearAndThereafter contextRef="c5" decimals="-3" unitRef="usd">599000</mgic:FifthYearAndThereafter>
    <mgic:FifthYearAndThereafter contextRef="c0" decimals="-3" unitRef="usd">5551000</mgic:FifthYearAndThereafter>
    <mgic:LongTermDebtMaturitiesYear contextRef="c59" decimals="-3" unitRef="usd">23554000</mgic:LongTermDebtMaturitiesYear>
    <mgic:LongTermDebtMaturitiesYear contextRef="c5" decimals="-3" unitRef="usd">32456000</mgic:LongTermDebtMaturitiesYear>
    <mgic:LongTermDebtMaturitiesYear contextRef="c0" decimals="-3" unitRef="usd">48630000</mgic:LongTermDebtMaturitiesYear>
    <ifrs-full:LoansPayableInDefault contextRef="c175" decimals="-3" unitRef="usd">25000000</ifrs-full:LoansPayableInDefault>
    <ifrs-full:BorrowingsInterestRate contextRef="c175" decimals="4" unitRef="pure">0.0225</ifrs-full:BorrowingsInterestRate>
    <ifrs-full:EquityInstrumentsHeld contextRef="c2" decimals="-3" unitRef="usd">100000000</ifrs-full:EquityInstrumentsHeld>
    <ifrs-full:RestrictedCashAndCashEquivalents contextRef="c2" decimals="-3" unitRef="usd">10000000</ifrs-full:RestrictedCashAndCashEquivalents>
    <mgic:FinancialDebtsNotExceedPercentage contextRef="c0" decimals="2" unitRef="pure">0.50</mgic:FinancialDebtsNotExceedPercentage>
    <mgic:LoanAgreementDescription contextRef="c176">the Company entered into a loan agreement with an Israeli bank, pursuant to which, the Company borrowed $20,000 for a four-year term
(the &#x201c;Bank Loan&#x201d;). The Bank Loan will mature on March 27, 2027, and will be repaid in four (4) equal annual instalments of
$6,052 (including interest) starting March 27, 2024. The Bank Loan bears interest at the rate SOFR + 3.38%. The Bank Loan, which may be
prepaid under certain circumstances, is subject to various financial covenants which mainly consist of the following:</mgic:LoanAgreementDescription>
    <mgic:LoanObtained contextRef="c177" decimals="-3" unitRef="usd">31356000</mgic:LoanObtained>
    <mgic:DerivativeFixedInterestRates contextRef="c178" decimals="4" unitRef="pure">0.026</mgic:DerivativeFixedInterestRates>
    <mgic:LoanObtained contextRef="c179" decimals="-3" unitRef="usd">15000000</mgic:LoanObtained>
    <mgic:FinancialDebtsNotExceedPercentage contextRef="c179" decimals="2" unitRef="pure">0.30</mgic:FinancialDebtsNotExceedPercentage>
    <ifrs-full:DisclosureOfRelatedPartyExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"/&gt;&lt;td style="width: 0.75in; text-align: left"&gt;&lt;span style="text-transform: uppercase"&gt;Note 13:-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="text-transform: uppercase"&gt;RELATED
                                            PARTies TRANSACTIONS&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"&gt;Agreements with controlling
shareholder and its affiliates:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Company has in effect agreements with affiliated
companies pursuant to which the Company has rendered services amounting to approximately $5,615, and $6,990, in aggregate for the years
ended December 31, 2021 and 2022, respectively and acquired services amounting to approximately $ 2,639 and $ 3,088 for the years ended
December 31, 2021 and 2022, respectively. The aforementioned services include cloud computing services, software products, computer infrastructure
and integration, software development and maintenance services and back-office services.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"&gt;As of December 31,
2021 and 2022, the Company had trade and other receivables balances due to its related parties in amount of approximately $ 3,380 and
$ 8,519, respectively. In addition, as of December 31, 2021 and 2022. the Company had trade payables balances due from its related parties
in amount of approximately $ 708 and $124, respectively.&lt;/p&gt;</ifrs-full:DisclosureOfRelatedPartyExplanatory>
    <ifrs-full:ServicesReceivedRelatedPartyTransactions contextRef="c5" decimals="-3" unitRef="usd">5615000</ifrs-full:ServicesReceivedRelatedPartyTransactions>
    <ifrs-full:ServicesReceivedRelatedPartyTransactions contextRef="c0" decimals="-3" unitRef="usd">6990000</ifrs-full:ServicesReceivedRelatedPartyTransactions>
    <ifrs-full:ServicesReceivedRelatedPartyTransactions contextRef="c204" decimals="-3" unitRef="usd">2639000</ifrs-full:ServicesReceivedRelatedPartyTransactions>
    <ifrs-full:ServicesReceivedRelatedPartyTransactions contextRef="c205" decimals="-3" unitRef="usd">3088000</ifrs-full:ServicesReceivedRelatedPartyTransactions>
    <ifrs-full:AmountsReceivableRelatedPartyTransactions contextRef="c4" decimals="-3" unitRef="usd">3380000</ifrs-full:AmountsReceivableRelatedPartyTransactions>
    <ifrs-full:AmountsReceivableRelatedPartyTransactions contextRef="c2" decimals="-3" unitRef="usd">8519000</ifrs-full:AmountsReceivableRelatedPartyTransactions>
    <ifrs-full:AmountsPayableRelatedPartyTransactions contextRef="c4" decimals="-3" unitRef="usd">708000</ifrs-full:AmountsPayableRelatedPartyTransactions>
    <ifrs-full:AmountsPayableRelatedPartyTransactions contextRef="c2" decimals="-3" unitRef="usd">124000</ifrs-full:AmountsPayableRelatedPartyTransactions>
    <ifrs-full:DisclosureOfLeasesExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"/&gt;&lt;td style="width: 0.75in; text-align: left"&gt;&lt;span style="text-transform: uppercase"&gt;Note 14:-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="text-transform: uppercase"&gt;LEASES&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"&gt;The Company leases substantially
all of its office space and vehicles under operating leases. The Company&#x2019;s leases have original lease periods expiring between 2023
and 2034. Some leases include one or more options to renew. The Company does not assume renewals in its determination of the lease term
unless the renewals are deemed to be reasonably certain at lease commencement. Lease payments included in the measurement of the lease
liability comprise the following: the fixed non-cancellable lease payments, payments for optional renewal periods where it is reasonably
certain the renewal period will be exercised, and payments for early termination options unless it is reasonably certain the lease will
not be terminated early.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"&gt;In July 2020, the Company entered
into a lease agreement for new corporate offices for the company in Or Yehuda, Israel. The lease expires in June 2033, with an option
by the Company to extend for an additional 10-years term. The Company deemed this option as&#160;reasonably certain to be renewed.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"&gt;The Company has several leased
offices in the United States, with expiry dates varying between 2023 and 2024, with renewal options varying between 2023 and 2029.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"&gt;In November 2021, one of the
Company&#x2019;s subsidiaries in Israel entered into a lease agreement for new corporate offices. The lease commenced on July 2022 with
a lease term through 2029, with an option to terminate the lease after a 4-year term following a 12-month notice in advance, and an option
to renew the lease to an additional 5-year term, through 2034. The Company deemed this option as&#160;reasonably certain to be renewed.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"&gt;Under IFRS 16, all leases with
durations greater than 12 months, including non-cancellable operating leases, are now recognized on the statement of financial position.
The aggregated present value of lease agreements is recorded as a long-term asset titled operating lease right-of-use assets.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"&gt;The corresponding lease liabilities
are classified between operating lease liabilities which are current and long-term.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"&gt;Maturity analysis of undiscounted
future lease payments for lease liabilities:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 88%; text-align: left"&gt;2023&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;5,370&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;2024&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,344&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;2025&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,309&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;2026&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,447&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;2027&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,964&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;2028 and thereafter&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;17,258&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Total undiscounted cash flows&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;34,692&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Less imputed interest&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(5,819&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;Present value of lease liabilities&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;28,873&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;a.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Information on leases:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Year ended December 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left; text-indent: -8.5pt; padding-left: 8.5pt"&gt;Expenses relating to operating lease costs&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;2,889&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;1,930&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; text-indent: -8.5pt; padding-left: 8.5pt"&gt;Expenses relating to short-term leases&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;57&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;109&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; text-indent: -8.5pt; padding-left: 8.5pt"&gt;Expenses relating to variable lease payments&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;2,928&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;2,753&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; text-indent: -8.5pt; padding-left: 8.5pt"&gt;Total cash outflow for leases&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;5,874&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;4,792&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The following is a summary of weighted
average remaining lease terms and discount rates for all of the Company&#x2019;s operating leases:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;December&#160;31,&lt;br/&gt;
&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 88%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Weighted average remaining lease term (years)&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;12.4&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Weighted average discount rate&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2.96&lt;/td&gt;&lt;td style="text-align: left"&gt;%&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.5in"/&gt;&lt;td style="width: 0.25in"&gt;b.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Disclosures in respect of right-of-use assets:&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Buildings&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Motor&lt;br/&gt;
 vehicles&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Cost:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; width: 64%; text-align: left"&gt;Balance as of January&#160;1, 2022&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;33,241&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;3,505&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;36,746&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Additions during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;New leases&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,881&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,468&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,349&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Modification of leases&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;589&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;89&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;678&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Adjustments for indexation&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;947&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;95&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,042&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Adjustments arising from translating financial statements of foreign operations&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,228&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;7&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,221&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Acquisition of subsidiaries&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,714&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;40&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,754&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Disposals during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Termination of leases&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(692&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(333&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(1,025&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Balance as of December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;40,452&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;4,871&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;45,323&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Accumulated depreciation:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Balance as of January&#160;1, 2022&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;11,943&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,523&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;13,466&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Additions during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Depreciation&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,151&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,169&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,320&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Adjustments arising from translating financial statements of foreign operations&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;665&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;29&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;694&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Disposals during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Termination of leases&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(509&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(184&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(693&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Balance as of December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;15,250&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,537&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;17,787&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;Depreciated cost at December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;25,202&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;2,334&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;27,536&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Buildings&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Motor vehicles&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Cost:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; width: 64%; text-align: left"&gt;Balance as of January&#160;1, 2021&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;28,563&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;3,283&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;31,846&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Additions during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;New leases&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,199&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;235&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,434&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Adjustments for indexation&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;186&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;103&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;289&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Adjustments arising from translating financial statements of foreign operations&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,781&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;159&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,940&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Acquisition of subsidiaries&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,129&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-82"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,129&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Disposals during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Termination of leases&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2,617&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(275&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2,892&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Balance as of December 31, 2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;33,241&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3,505&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;36,746&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Accumulated depreciation:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Balance as of January&#160;1, 2021&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;7,432&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,051&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,483&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Additions during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left"&gt;Depreciation&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,514&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;473&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,987&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Adjustments arising from translating financial statements of foreign operations&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,510&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;157&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,667&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Disposals during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 1.5pt"&gt;Termination of leases&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(1,511&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(160&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(1,671&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Balance as of December 31, 2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;11,945&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,521&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;13,466&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;Depreciated cost at December 31, 2021&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;21,296&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;1,984&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;23,280&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfLeasesExplanatory>
    <mgic:DescriptionOfLeaseExpiring contextRef="c0">lease periods expiring between 2023
and 2034</mgic:DescriptionOfLeaseExpiring>
    <mgic:LeasesExtendToAdditionalYears contextRef="c206">P10Y</mgic:LeasesExtendToAdditionalYears>
    <ifrs-full:ExplanationOfNatureAndExtentOfRenewalAndTerminationOptions contextRef="c0">expiry dates varying between 2023 and 2024, with renewal options varying between 2023 and 2029</ifrs-full:ExplanationOfNatureAndExtentOfRenewalAndTerminationOptions>
    <mgic:LeaseOptionToTerminate contextRef="c207">terminate the lease after a 4-year term following a 12-month notice in advance, and an option
to renew the lease to an additional 5-year term</mgic:LeaseOptionToTerminate>
    <ifrs-full:DescriptionOfLineItemsInStatementOfFinancialPositionWhichIncludeLeaseLiabilities contextRef="c207">12 months</ifrs-full:DescriptionOfLineItemsInStatementOfFinancialPositionWhichIncludeLeaseLiabilities>
    <ifrs-full:DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 88%; text-align: left"&gt;2023&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;5,370&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;2024&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,344&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;2025&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,309&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;2026&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,447&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;2027&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,964&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;2028 and thereafter&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;17,258&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Total undiscounted cash flows&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;34,692&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Less imputed interest&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(5,819&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;Present value of lease liabilities&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;28,873&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;</ifrs-full:DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory>
    <mgic:OperatingLeasesFutureMinimumPaymentDue contextRef="c208" decimals="-3" unitRef="usd">5370000</mgic:OperatingLeasesFutureMinimumPaymentDue>
    <mgic:OperatingLeasesFutureMinimumPaymentDue contextRef="c209" decimals="-3" unitRef="usd">4344000</mgic:OperatingLeasesFutureMinimumPaymentDue>
    <mgic:OperatingLeasesFutureMinimumPaymentDue contextRef="c210" decimals="-3" unitRef="usd">3309000</mgic:OperatingLeasesFutureMinimumPaymentDue>
    <mgic:OperatingLeasesFutureMinimumPaymentDue contextRef="c211" decimals="-3" unitRef="usd">2447000</mgic:OperatingLeasesFutureMinimumPaymentDue>
    <mgic:OperatingLeasesFutureMinimumPaymentDue contextRef="c212" decimals="-3" unitRef="usd">1964000</mgic:OperatingLeasesFutureMinimumPaymentDue>
    <mgic:OperatingLeasesFutureMinimumPaymentDue contextRef="c213" decimals="-3" unitRef="usd">17258000</mgic:OperatingLeasesFutureMinimumPaymentDue>
    <ifrs-full:UndiscountedOperatingLeasePaymentsToBeReceived contextRef="c2" decimals="-3" unitRef="usd">34692000</ifrs-full:UndiscountedOperatingLeasePaymentsToBeReceived>
    <ifrs-full:NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate contextRef="c2" decimals="-3" unitRef="usd">5819000</ifrs-full:NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate>
    <ifrs-full:LeaseLiabilities contextRef="c2" decimals="-3" unitRef="usd">28873000</ifrs-full:LeaseLiabilities>
    <mgic:ScheduleOfLeaseInformationExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Year ended December 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left; text-indent: -8.5pt; padding-left: 8.5pt"&gt;Expenses relating to operating lease costs&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;2,889&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;1,930&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; text-indent: -8.5pt; padding-left: 8.5pt"&gt;Expenses relating to short-term leases&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;57&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;109&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; text-indent: -8.5pt; padding-left: 8.5pt"&gt;Expenses relating to variable lease payments&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;2,928&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;2,753&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; text-indent: -8.5pt; padding-left: 8.5pt"&gt;Total cash outflow for leases&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;5,874&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;4,792&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt"&gt;&#160;&lt;/p&gt;</mgic:ScheduleOfLeaseInformationExplanatory>
    <mgic:ExpenseRelatingToOperatingLeaseCostsPaymentsNotIncludedInMeasurementOfLeaseLiabilities contextRef="c5" decimals="-3" unitRef="usd">2889000</mgic:ExpenseRelatingToOperatingLeaseCostsPaymentsNotIncludedInMeasurementOfLeaseLiabilities>
    <mgic:ExpenseRelatingToOperatingLeaseCostsPaymentsNotIncludedInMeasurementOfLeaseLiabilities contextRef="c0" decimals="-3" unitRef="usd">1930000</mgic:ExpenseRelatingToOperatingLeaseCostsPaymentsNotIncludedInMeasurementOfLeaseLiabilities>
    <ifrs-full:ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed contextRef="c5" decimals="-3" unitRef="usd">57000</ifrs-full:ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed>
    <ifrs-full:ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed contextRef="c0" decimals="-3" unitRef="usd">109000</ifrs-full:ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed>
    <ifrs-full:ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities contextRef="c5" decimals="-3" unitRef="usd">2928000</ifrs-full:ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities>
    <ifrs-full:ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities contextRef="c0" decimals="-3" unitRef="usd">2753000</ifrs-full:ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities>
    <ifrs-full:CashOutflowForLeases contextRef="c5" decimals="-3" unitRef="usd">5874000</ifrs-full:CashOutflowForLeases>
    <ifrs-full:CashOutflowForLeases contextRef="c0" decimals="-3" unitRef="usd">4792000</ifrs-full:CashOutflowForLeases>
    <mgic:ScheduleOfWeightedAverageRemainingLeaseTermsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;December&#160;31,&lt;br/&gt;
&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 88%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Weighted average remaining lease term (years)&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;12.4&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Weighted average discount rate&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2.96&lt;/td&gt;&lt;td style="text-align: left"&gt;%&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;</mgic:ScheduleOfWeightedAverageRemainingLeaseTermsExplanatory>
    <mgic:WeightedAverageRemainingLeaseTermyears contextRef="c2">P12Y4M24D</mgic:WeightedAverageRemainingLeaseTermyears>
    <mgic:WeightedAverageDiscountRate contextRef="c2" decimals="4" unitRef="pure">0.0296</mgic:WeightedAverageDiscountRate>
    <mgic:ScheduleOfRightofuseAssetsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Buildings&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Motor&lt;br/&gt;
 vehicles&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Cost:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; width: 64%; text-align: left"&gt;Balance as of January&#160;1, 2022&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;33,241&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;3,505&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;36,746&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Additions during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;New leases&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,881&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,468&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,349&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Modification of leases&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;589&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;89&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;678&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Adjustments for indexation&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;947&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;95&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,042&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Adjustments arising from translating financial statements of foreign operations&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,228&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;7&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,221&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Acquisition of subsidiaries&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,714&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;40&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,754&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Disposals during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Termination of leases&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(692&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(333&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(1,025&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Balance as of December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;40,452&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;4,871&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;45,323&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Accumulated depreciation:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Balance as of January&#160;1, 2022&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;11,943&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,523&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;13,466&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Additions during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Depreciation&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,151&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,169&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,320&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Adjustments arising from translating financial statements of foreign operations&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;665&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;29&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;694&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Disposals during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Termination of leases&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(509&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(184&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(693&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Balance as of December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;15,250&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,537&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;17,787&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;Depreciated cost at December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;25,202&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;2,334&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;27,536&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Buildings&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Motor vehicles&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Cost:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; width: 64%; text-align: left"&gt;Balance as of January&#160;1, 2021&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;28,563&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;3,283&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;31,846&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Additions during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;New leases&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,199&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;235&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,434&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Adjustments for indexation&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;186&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;103&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;289&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Adjustments arising from translating financial statements of foreign operations&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,781&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;159&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,940&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Acquisition of subsidiaries&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,129&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-82"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,129&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Disposals during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Termination of leases&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2,617&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(275&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2,892&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Balance as of December 31, 2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;33,241&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3,505&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;36,746&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Accumulated depreciation:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Balance as of January&#160;1, 2021&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;7,432&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,051&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,483&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Additions during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left"&gt;Depreciation&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,514&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;473&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,987&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left"&gt;Adjustments arising from translating financial statements of foreign operations&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,510&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;157&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,667&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;Disposals during the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 1.5pt"&gt;Termination of leases&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(1,511&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(160&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(1,671&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Balance as of December 31, 2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;11,945&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,521&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;13,466&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt"&gt;Depreciated cost at December 31, 2021&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;21,296&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;1,984&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;23,280&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</mgic:ScheduleOfRightofuseAssetsExplanatory>
    <mgic:CostAtBeginnings contextRef="c214" decimals="-3" unitRef="usd">33241000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c215" decimals="-3" unitRef="usd">3505000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c216" decimals="-3" unitRef="usd">36746000</mgic:CostAtBeginnings>
    <ifrs-full:AdditionsToRightofuseAssets contextRef="c217" decimals="-3" unitRef="usd">4881000</ifrs-full:AdditionsToRightofuseAssets>
    <ifrs-full:AdditionsToRightofuseAssets contextRef="c218" decimals="-3" unitRef="usd">1468000</ifrs-full:AdditionsToRightofuseAssets>
    <ifrs-full:AdditionsToRightofuseAssets contextRef="c219" decimals="-3" unitRef="usd">6349000</ifrs-full:AdditionsToRightofuseAssets>
    <mgic:ModificationOfLeases contextRef="c217" decimals="-3" unitRef="usd">589000</mgic:ModificationOfLeases>
    <mgic:ModificationOfLeases contextRef="c218" decimals="-3" unitRef="usd">89000</mgic:ModificationOfLeases>
    <mgic:ModificationOfLeases contextRef="c219" decimals="-3" unitRef="usd">678000</mgic:ModificationOfLeases>
    <mgic:AdjustmentsForIndexation contextRef="c217" decimals="-3" unitRef="usd">947000</mgic:AdjustmentsForIndexation>
    <mgic:AdjustmentsForIndexation contextRef="c218" decimals="-3" unitRef="usd">95000</mgic:AdjustmentsForIndexation>
    <mgic:AdjustmentsForIndexation contextRef="c219" decimals="-3" unitRef="usd">1042000</mgic:AdjustmentsForIndexation>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c217" decimals="-3" unitRef="usd">-1228000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c218" decimals="-3" unitRef="usd">7000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c219" decimals="-3" unitRef="usd">-1221000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:AcquisitionOfSubsidiaries contextRef="c217" decimals="-3" unitRef="usd">2714000</mgic:AcquisitionOfSubsidiaries>
    <mgic:AcquisitionOfSubsidiaries contextRef="c218" decimals="-3" unitRef="usd">40000</mgic:AcquisitionOfSubsidiaries>
    <mgic:AcquisitionOfSubsidiaries contextRef="c219" decimals="-3" unitRef="usd">2754000</mgic:AcquisitionOfSubsidiaries>
    <mgic:TerminationOfLeases contextRef="c217" decimals="-3" unitRef="usd">-692000</mgic:TerminationOfLeases>
    <mgic:TerminationOfLeases contextRef="c218" decimals="-3" unitRef="usd">-333000</mgic:TerminationOfLeases>
    <mgic:TerminationOfLeases contextRef="c219" decimals="-3" unitRef="usd">-1025000</mgic:TerminationOfLeases>
    <mgic:CostAtEnding contextRef="c217" decimals="-3" unitRef="usd">40452000</mgic:CostAtEnding>
    <mgic:CostAtEnding contextRef="c218" decimals="-3" unitRef="usd">4871000</mgic:CostAtEnding>
    <mgic:CostAtEnding contextRef="c219" decimals="-3" unitRef="usd">45323000</mgic:CostAtEnding>
    <mgic:CostAtBeginnings contextRef="c220" decimals="-3" unitRef="usd">11943000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c221" decimals="-3" unitRef="usd">1523000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c222" decimals="-3" unitRef="usd">13466000</mgic:CostAtBeginnings>
    <ifrs-full:DepreciationRightofuseAssets contextRef="c223" decimals="-3" unitRef="usd">3151000</ifrs-full:DepreciationRightofuseAssets>
    <ifrs-full:DepreciationRightofuseAssets contextRef="c224" decimals="-3" unitRef="usd">1169000</ifrs-full:DepreciationRightofuseAssets>
    <ifrs-full:DepreciationRightofuseAssets contextRef="c225" decimals="-3" unitRef="usd">4320000</ifrs-full:DepreciationRightofuseAssets>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c223" decimals="-3" unitRef="usd">665000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c224" decimals="-3" unitRef="usd">29000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c225" decimals="-3" unitRef="usd">694000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:TerminationOfLeases contextRef="c223" decimals="-3" unitRef="usd">-509000</mgic:TerminationOfLeases>
    <mgic:TerminationOfLeases contextRef="c224" decimals="-3" unitRef="usd">-184000</mgic:TerminationOfLeases>
    <mgic:TerminationOfLeases contextRef="c225" decimals="-3" unitRef="usd">-693000</mgic:TerminationOfLeases>
    <mgic:CostAtEnding contextRef="c223" decimals="-3" unitRef="usd">15250000</mgic:CostAtEnding>
    <mgic:CostAtEnding contextRef="c224" decimals="-3" unitRef="usd">2537000</mgic:CostAtEnding>
    <mgic:CostAtEnding contextRef="c225" decimals="-3" unitRef="usd">17787000</mgic:CostAtEnding>
    <mgic:DepreciatedCost contextRef="c223" decimals="-3" unitRef="usd">25202000</mgic:DepreciatedCost>
    <mgic:DepreciatedCost contextRef="c224" decimals="-3" unitRef="usd">2334000</mgic:DepreciatedCost>
    <mgic:DepreciatedCost contextRef="c225" decimals="-3" unitRef="usd">27536000</mgic:DepreciatedCost>
    <mgic:CostAtBeginnings contextRef="c226" decimals="-3" unitRef="usd">28563000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c227" decimals="-3" unitRef="usd">3283000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c228" decimals="-3" unitRef="usd">31846000</mgic:CostAtBeginnings>
    <ifrs-full:AdditionsToRightofuseAssets contextRef="c229" decimals="-3" unitRef="usd">4199000</ifrs-full:AdditionsToRightofuseAssets>
    <ifrs-full:AdditionsToRightofuseAssets contextRef="c230" decimals="-3" unitRef="usd">235000</ifrs-full:AdditionsToRightofuseAssets>
    <ifrs-full:AdditionsToRightofuseAssets contextRef="c231" decimals="-3" unitRef="usd">4434000</ifrs-full:AdditionsToRightofuseAssets>
    <mgic:AdjustmentsForIndexation contextRef="c229" decimals="-3" unitRef="usd">186000</mgic:AdjustmentsForIndexation>
    <mgic:AdjustmentsForIndexation contextRef="c230" decimals="-3" unitRef="usd">103000</mgic:AdjustmentsForIndexation>
    <mgic:AdjustmentsForIndexation contextRef="c231" decimals="-3" unitRef="usd">289000</mgic:AdjustmentsForIndexation>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c229" decimals="-3" unitRef="usd">1781000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c230" decimals="-3" unitRef="usd">159000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c231" decimals="-3" unitRef="usd">1940000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:AcquisitionOfSubsidiaries contextRef="c229" decimals="-3" unitRef="usd">1129000</mgic:AcquisitionOfSubsidiaries>
    <mgic:AcquisitionOfSubsidiaries contextRef="c231" decimals="-3" unitRef="usd">1129000</mgic:AcquisitionOfSubsidiaries>
    <mgic:TerminationOfLeases contextRef="c229" decimals="-3" unitRef="usd">-2617000</mgic:TerminationOfLeases>
    <mgic:TerminationOfLeases contextRef="c230" decimals="-3" unitRef="usd">-275000</mgic:TerminationOfLeases>
    <mgic:TerminationOfLeases contextRef="c231" decimals="-3" unitRef="usd">-2892000</mgic:TerminationOfLeases>
    <mgic:CostAtEnding contextRef="c229" decimals="-3" unitRef="usd">33241000</mgic:CostAtEnding>
    <mgic:CostAtEnding contextRef="c230" decimals="-3" unitRef="usd">3505000</mgic:CostAtEnding>
    <mgic:CostAtEnding contextRef="c231" decimals="-3" unitRef="usd">36746000</mgic:CostAtEnding>
    <mgic:CostAtBeginnings contextRef="c232" decimals="-3" unitRef="usd">7432000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c233" decimals="-3" unitRef="usd">1051000</mgic:CostAtBeginnings>
    <mgic:CostAtBeginnings contextRef="c234" decimals="-3" unitRef="usd">8483000</mgic:CostAtBeginnings>
    <ifrs-full:DepreciationRightofuseAssets contextRef="c235" decimals="-3" unitRef="usd">4514000</ifrs-full:DepreciationRightofuseAssets>
    <ifrs-full:DepreciationRightofuseAssets contextRef="c236" decimals="-3" unitRef="usd">473000</ifrs-full:DepreciationRightofuseAssets>
    <ifrs-full:DepreciationRightofuseAssets contextRef="c237" decimals="-3" unitRef="usd">4987000</ifrs-full:DepreciationRightofuseAssets>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c235" decimals="-3" unitRef="usd">1510000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c236" decimals="-3" unitRef="usd">157000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations contextRef="c237" decimals="-3" unitRef="usd">1667000</mgic:AdjustmentsArisingFromTranslatingFinancialStatementsOfForeignOperations>
    <mgic:TerminationOfLeases contextRef="c235" decimals="-3" unitRef="usd">-1511000</mgic:TerminationOfLeases>
    <mgic:TerminationOfLeases contextRef="c236" decimals="-3" unitRef="usd">-160000</mgic:TerminationOfLeases>
    <mgic:TerminationOfLeases contextRef="c237" decimals="-3" unitRef="usd">-1671000</mgic:TerminationOfLeases>
    <mgic:CostAtEnding contextRef="c235" decimals="-3" unitRef="usd">11945000</mgic:CostAtEnding>
    <mgic:CostAtEnding contextRef="c236" decimals="-3" unitRef="usd">1521000</mgic:CostAtEnding>
    <mgic:CostAtEnding contextRef="c237" decimals="-3" unitRef="usd">13466000</mgic:CostAtEnding>
    <mgic:DepreciatedCost contextRef="c235" decimals="-3" unitRef="usd">21296000</mgic:DepreciatedCost>
    <mgic:DepreciatedCost contextRef="c236" decimals="-3" unitRef="usd">1984000</mgic:DepreciatedCost>
    <mgic:DepreciatedCost contextRef="c237" decimals="-3" unitRef="usd">23280000</mgic:DepreciatedCost>
    <ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"/&gt;&lt;td style="width: 0.75in; text-align: left"&gt;&lt;span style="text-transform: uppercase"&gt;Note 15:-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="text-transform: uppercase"&gt;SHARE
                                            BASED PAYMENTS&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font-size: 10pt"&gt;a.&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;Stock Option Plans of the Company:&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Under the Company&#x2019;s 2007 Stock Option
Plan, as amended (&#x201c;the 2007 Plan&#x201d;), options may be granted to employees, officers, directors and consultants of the Company
and its subsidiaries. Pursuant to the original 2007 Stock Option Plan, which is valid until August 1, 2027, the Company reserved 2,750,000
Ordinary shares for issuance. As of December 31, 2022, an aggregate of 952,500 Ordinary shares of the Company are available for future
grants under the 2007 Plan. Each option granted under the 2007 Plan is exercisable for a period of ten years from the date of the grant
of the option.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The exercise price for each option is
determined by the Board of Directors and set forth in the Company&#x2019;s award agreement. Unless determined otherwise by the Board of
Directors, the option exercise price shall be equal to or higher than the share market price at the grant date. The options generally
vest over 3-4 years. Any option that is forfeited or canceled before expiration becomes available for future grants under the 2007 Plan.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company recognizes compensation expenses
for the value of its awards, which have graded vesting based on the accelerated method over the requisite service period of each of the
awards. The Company accounts for forfeitures as they occur.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 76.5pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company uses the Binomial option-pricing
model (&#x201c;the Binomial model&#x201d;) to estimate the fair value for any options granted. The Binomial model takes into account variables
such as volatility, dividend yield rate, and risk-free interest rate and also allows for the use of dynamic assumptions and considers
the contractual term of the option, the probability that the option will be exercised prior to the end of its contractual life, and the
probability of termination or retirement of the option holder in computing the value of the option.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The fair value of each option granted
using the Binomial model, was estimated on the date of grant with the following assumptions: expected volatility was based upon actual
historical stock price movements and was calculated as of the grant dates for different periods, since the Binomial model can be used
for different expected volatilities for different periods. The risk-free interest rate was based on the yield from U.S. Treasury zero-coupon
bonds with an equivalent term to the contractual term of the options. The expected term of options granted was derived from the output
of the option valuation model and represented the period of time that options granted were expected to be outstanding. Estimated forfeitures
were based on actual historical pre-vesting forfeitures. Since dividend payments are applied to reduce the exercise price of the option,
the effect of the dividend protection was reflected by using an expected dividend assumption of zero.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;On March 7, 2021, the Company granted
to one of its senior executive officers 80,000 options to purchase its shares with no exercise price. The options will vest over a four-year
period, and include several performance criteria related to the Company&#x2019;s results of operations.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;No grants were made to employees or directors
in 2022.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&lt;span style="background-color: white"&gt;The
fair value of the options granted in 2021 using the Binomial model, was estimated on the date of grant with the following assumptions:&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Year ended&lt;br/&gt;
 December&#160;31, &lt;br/&gt;
2021&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: #CCEEFF"&gt;
    &lt;td style="width: 88%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Share price&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;$&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;16.85&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: white"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Contractual life&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;10&#160;years&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: #CCEEFF"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Expected exercise factor&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;1.5&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: white"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Dividend yield&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;0&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: #CCEEFF"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Expected volatility (weighted average)&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;35.1&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: white"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Risk-free interest rate&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;0.5%&#x2013;1.3&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: #CCEEFF"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Fair value of option at the grant date&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;$&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;16.85&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&lt;span style="background-color: white"&gt;The
risk-free interest rate assumption is based on the yield from U.S. Treasury zero-coupon bonds with an equivalent term as of the Company&#x2019;s
employee stock options. Since dividend payment is applied to reduce the exercise price of the option, the effect of the dividend protection
is reflected by using an expected dividend assumption of zero.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;A summary of employee option activity
under the 2007 Plan as of December 31, 2022 and changes during the year ended December 31, 2022 are as follows:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Number&#160;of options&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Weighted&lt;br/&gt; average&lt;br/&gt; exercise &lt;br/&gt; price&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Weighted&lt;br/&gt; average&lt;br/&gt; remaining&lt;br/&gt; contractual&lt;br/&gt; term&lt;br/&gt; (in years)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Aggregate&lt;br/&gt; intrinsic &lt;br/&gt; value&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 52%; text-align: justify"&gt;Outstanding at January 1, 2022&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;66,250&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;0.45&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;7.96&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;1,360&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;Exercised&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(20,000&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-83"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Forfeited&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(20,000&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-84"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;Outstanding at December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;26,250&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.91&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;5.95&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;397&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;Exercisable at December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;6,250&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;3.81&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.6&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;76&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The aggregate intrinsic value in the table
above represents the total intrinsic value that would have been received by the option holders had all option holders exercised their
options on December&#160;31, 2022. This amount is changed based on the market value of the Company&#x2019;s Ordinary shares. Total intrinsic
value of options exercised during the years ended December&#160;31, 2021 and 2022 was $628 and $344, respectively. As of December 31,
2022, there was $112&#160;of total unrecognized compensation cost related to non-vested options, which is expected to be recognized in
full during 2023.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The options outstanding as of December
31, 2022, have been separated into exercise price categories, as follows:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: justify; border-bottom: Black 1.5pt solid"&gt;Exercise price&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Options&lt;br/&gt; outstanding&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Weighted&lt;br/&gt; average &lt;br/&gt; remaining &lt;br/&gt; contractual &lt;br/&gt; life &lt;br/&gt; (years)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Options&lt;br/&gt; exercisable&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Weighted&lt;br/&gt; average&lt;br/&gt; exercise &lt;br/&gt; price of &lt;br/&gt; exercisable &lt;br/&gt; options&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;In $&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 52%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;0&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;20,000&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;7.62&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-89"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-90"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;3.81&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;6,250&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;0.6&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;6,250&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3.81&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;26,250&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;5.99&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;6,250&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;3.81&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font-size: 10pt"&gt;b.&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;Stock Option Plan of Comm-IT
Solutions:&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Under the Comm-IT Solutions&#x2019; 2022
Stock Option Plan, (&#x201c;Comm-IT Solutions 2022 Plan&#x201d;), options may be granted to employees, officers, directors and consultants
of the Company and its subsidiaries. Pursuant to Comm-IT Solutions 2022 Plan, Comm-IT Technology Solutions Ltd. shall reserve in its registered
and reserved capital, such sufficient number of shares (subject to any adjustment in the capital under the Comm-IT Solutions 2022 Plan)
required in order to consummate the Comm-IT Solutions 2022 Plan.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;span style="background-color: white"&gt;In
December 2022, Magic&#x2019;s Israeli subsidiary, Comm-IT Technology Solutions Ltd. (&#x201c;Comm-IT Solutions&#x201d;), awarded 12 of its
senior officers 4,028 options to purchase 4,028 shares of Comm-IT Technology Solutions Ltd, at an exercise price ranging between $0.28-$1,878.
827 of the options have fully vested upon their grant, whereas the vesting of the remainder of the options are subject to Comm-IT Solutions
and its subsidiaries meeting certain EBITDA targets for the years 2022-2024. Subject to the EBITDA targets to be met, as well as the officers
continued employment with Comm-IT Solutions throughout 2027, the options will vest at certain points in time throughout the years 2023
to 2027.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;A summary of employee option activity
under the Comm-IT Solutions 2022 Plan as of December 31, 2022 and changes during the year ended December 31, 2022 are as follows:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Number &lt;br/&gt; of options&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Weighted&lt;br/&gt; average&lt;br/&gt; exercise &lt;br/&gt; price&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Weighted&lt;br/&gt; average&lt;br/&gt; remaining&lt;br/&gt; contractual&lt;br/&gt; term&lt;br/&gt; (in years)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Aggregate&lt;br/&gt; intrinsic &lt;br/&gt; value&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Outstanding at January 1, 2022&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-85"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-86"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-87"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-88"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="width: 52%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Granted&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;4,028&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;264.67&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Outstanding at December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;4,028&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;264.67&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;7.94&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;7,499&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Exercisable at December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;827&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.28&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;7.92&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;1,839&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;As of December 31, 2022, there was $2,885&#160;of
total unrecognized compensation cost related to non-vested options, which is expected to be recognized in full over a weighted average
period of 1.13 years.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The options outstanding as of December
31, 2022, have been separated into exercise price categories, as follows:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: justify; border-bottom: Black 1.5pt solid"&gt;Exercise price&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Options&lt;br/&gt; outstanding&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Weighted&lt;br/&gt; average &lt;br/&gt; remaining &lt;br/&gt; contractual &lt;br/&gt; life &lt;br/&gt; (years)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Options&lt;br/&gt; exercisable&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Weighted&lt;br/&gt; average&lt;br/&gt; exercise &lt;br/&gt; price of &lt;br/&gt; exercisable &lt;br/&gt; options&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;In $&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 52%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;0.28&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;3,238&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;7.92&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;827&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;0.28&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;469&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;297&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;7.99&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-91"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-92"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;1,878&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;493&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;7.99&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-93"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-94"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;4,028&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;7.94&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;827&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.28&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&lt;span style="background-color: white"&gt;The
fair value of the options granted in 2022 using the Binomial model, was estimated on the date of grant with the following assumptions:&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Year ended&lt;br/&gt;
 December 31,&lt;br/&gt;
2022&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: #CCEEFF"&gt;
    &lt;td style="width: 88%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Share price&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;$&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;2,110&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: white"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Contractual life&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;8&#160;years&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: #CCEEFF"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Expected exercise factor&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;1.5&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: white"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Dividend yield&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;0&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: #CCEEFF"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Expected volatility (weighted average)&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;41&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: white"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Risk-free interest rate&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;3.28%&#x2013;3.65&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: #CCEEFF"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Fair value of option at the grant date&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;$&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;1,078&#x2013;$2,126&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font-size: 10pt"&gt;c.&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;Cost of share-based payment:&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;During the years ended December 31,
2021 and 2022 the Company share-based payment expense related to employee stock options in the amount of $956 and $2,079, respectively,
as follows:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Year ended December 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: justify"&gt;Selling and marketing expenses&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;956&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;(56&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;General and administrative expenses&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-95"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,135&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;956&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;2,079&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory>
    <ifrs-full:SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares contextRef="c238" decimals="0" unitRef="shares">2750000</ifrs-full:SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares>
    <mgic:AggregateOrdinarySharesAvailableForFutureGrants contextRef="c238" decimals="0" unitRef="shares">952500</mgic:AggregateOrdinarySharesAvailableForFutureGrants>
    <mgic:OptionGrantExercisableContractualLifeOfOutstandingShareOption contextRef="c239">P10Y</mgic:OptionGrantExercisableContractualLifeOfOutstandingShareOption>
    <mgic:ExerciseOptionVestLife contextRef="c240">P3Y</mgic:ExerciseOptionVestLife>
    <mgic:ExerciseOptionVestLife contextRef="c241">P4Y</mgic:ExerciseOptionVestLife>
    <ifrs-full:ExpectedDividendShareOptionsGranted contextRef="c239" decimals="-3" unitRef="usd">0</ifrs-full:ExpectedDividendShareOptionsGranted>
    <mgic:PurchaseOfOptionShares contextRef="c242" decimals="0" unitRef="shares">80000</mgic:PurchaseOfOptionShares>
    <ifrs-full:DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Year ended&lt;br/&gt;
 December&#160;31, &lt;br/&gt;
2021&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: #CCEEFF"&gt;
    &lt;td style="width: 88%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Share price&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;$&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;16.85&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: white"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Contractual life&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;10&#160;years&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: #CCEEFF"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Expected exercise factor&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;1.5&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: white"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Dividend yield&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;0&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: #CCEEFF"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Expected volatility (weighted average)&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;35.1&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: white"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Risk-free interest rate&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;0.5%&#x2013;1.3&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: #CCEEFF"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Fair value of option at the grant date&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;$&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;16.85&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Year ended&lt;br/&gt;
 December 31,&lt;br/&gt;
2022&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: #CCEEFF"&gt;
    &lt;td style="width: 88%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Share price&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;$&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 9%; text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;2,110&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: white"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Contractual life&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;8&#160;years&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: #CCEEFF"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Expected exercise factor&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;1.5&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: white"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Dividend yield&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;0&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: #CCEEFF"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Expected volatility (weighted average)&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;41&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: white"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Risk-free interest rate&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;3.28%&#x2013;3.65&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: #CCEEFF"&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Fair value of option at the grant date&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;$&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: right"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;1,078&#x2013;$2,126&lt;/span&gt;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;</ifrs-full:DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory>
    <ifrs-full:WeightedAverageSharePriceShareOptionsGranted2019 contextRef="c5" decimals="2" unitRef="usdPershares">16.85</ifrs-full:WeightedAverageSharePriceShareOptionsGranted2019>
    <ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019 contextRef="c5">P10Y</ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019>
    <mgic:WeightedAverageExpectedExerciseFactor contextRef="c5" decimals="1" unitRef="pure">1.5</mgic:WeightedAverageExpectedExerciseFactor>
    <ifrs-full:ExpectedDividendAsPercentageShareOptionsGranted contextRef="c5" decimals="2" unitRef="pure">0</ifrs-full:ExpectedDividendAsPercentageShareOptionsGranted>
    <ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted contextRef="c5" decimals="3" unitRef="pure">0.351</ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted>
    <ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted contextRef="c248" decimals="3" unitRef="pure">0.005</ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted>
    <ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted contextRef="c249" decimals="3" unitRef="pure">0.013</ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted>
    <mgic:FairValueOfOptionAtTheGrantDate contextRef="c5" decimals="2" unitRef="usdPershares">16.85</mgic:FairValueOfOptionAtTheGrantDate>
    <ifrs-full:DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Number&#160;of options&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Weighted&lt;br/&gt; average&lt;br/&gt; exercise &lt;br/&gt; price&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Weighted&lt;br/&gt; average&lt;br/&gt; remaining&lt;br/&gt; contractual&lt;br/&gt; term&lt;br/&gt; (in years)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Aggregate&lt;br/&gt; intrinsic &lt;br/&gt; value&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 52%; text-align: justify"&gt;Outstanding at January 1, 2022&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;66,250&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;0.45&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;7.96&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;1,360&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;Exercised&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(20,000&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-83"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Forfeited&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(20,000&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-84"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;Outstanding at December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;26,250&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.91&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;5.95&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;397&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;Exercisable at December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;6,250&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;3.81&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.6&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;76&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Number &lt;br/&gt; of options&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Weighted&lt;br/&gt; average&lt;br/&gt; exercise &lt;br/&gt; price&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Weighted&lt;br/&gt; average&lt;br/&gt; remaining&lt;br/&gt; contractual&lt;br/&gt; term&lt;br/&gt; (in years)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Aggregate&lt;br/&gt; intrinsic &lt;br/&gt; value&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Outstanding at January 1, 2022&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-85"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-86"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-87"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-88"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="width: 52%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Granted&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;4,028&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;264.67&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Outstanding at December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;4,028&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;264.67&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;7.94&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;7,499&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Exercisable at December 31, 2022&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;827&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.28&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;7.92&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;1,839&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;</ifrs-full:DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory>
    <ifrs-full:NumberOfOutstandingShareOptions contextRef="c252" decimals="0" unitRef="pure">66250</ifrs-full:NumberOfOutstandingShareOptions>
    <ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019 contextRef="c252" decimals="2" unitRef="usdPershares">0.45</ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019>
    <mgic:WeightedAverageRemainingContractualTermOutstandingBeginning contextRef="c253">P7Y11M15D</mgic:WeightedAverageRemainingContractualTermOutstandingBeginning>
    <mgic:ShareBasedCompensationsAggregateIntrinsicValueOutstanding contextRef="c252" decimals="-3" unitRef="usd">1360000</mgic:ShareBasedCompensationsAggregateIntrinsicValueOutstanding>
    <ifrs-full:NumberOfShareOptionsExercisedInSharebasedPaymentArrangement contextRef="c253" decimals="0" unitRef="pure">20000</ifrs-full:NumberOfShareOptionsExercisedInSharebasedPaymentArrangement>
    <ifrs-full:NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement contextRef="c253" decimals="0" unitRef="pure">20000</ifrs-full:NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement>
    <ifrs-full:NumberOfOutstandingShareOptions contextRef="c254" decimals="0" unitRef="pure">26250</ifrs-full:NumberOfOutstandingShareOptions>
    <ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019 contextRef="c254" decimals="2" unitRef="usdPershares">0.91</ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019>
    <mgic:WeightedAverageRemainingContractualTermOutstandingEnding contextRef="c253">P5Y11M12D</mgic:WeightedAverageRemainingContractualTermOutstandingEnding>
    <mgic:ShareBasedCompensationsAggregateIntrinsicValueOutstanding contextRef="c254" decimals="-3" unitRef="usd">397000</mgic:ShareBasedCompensationsAggregateIntrinsicValueOutstanding>
    <ifrs-full:NumberOfShareOptionsExercisableInSharebasedPaymentArrangement contextRef="c254" decimals="0" unitRef="pure">6250</ifrs-full:NumberOfShareOptionsExercisableInSharebasedPaymentArrangement>
    <ifrs-full:WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019 contextRef="c254" decimals="2" unitRef="usdPershares">3.81</ifrs-full:WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019>
    <mgic:WeightedAverageRemainingContractualTermExercisable contextRef="c253">P0Y7M6D</mgic:WeightedAverageRemainingContractualTermExercisable>
    <mgic:ShareBasedCompensationAggregateIntrinsicValueExercisable contextRef="c254" decimals="-3" unitRef="usd">76000</mgic:ShareBasedCompensationAggregateIntrinsicValueExercisable>
    <mgic:TotalIntrinsicValueOfOptionsExercised contextRef="c243" decimals="-3" unitRef="usd">628000</mgic:TotalIntrinsicValueOfOptionsExercised>
    <mgic:TotalIntrinsicValueOfOptionsExercised contextRef="c239" decimals="-3" unitRef="usd">344000</mgic:TotalIntrinsicValueOfOptionsExercised>
    <mgic:UnrecognizedCompensationCostRelatedToNonVestedOptions contextRef="c238" decimals="-3" unitRef="usd">112000</mgic:UnrecognizedCompensationCostRelatedToNonVestedOptions>
    <ifrs-full:DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: justify; border-bottom: Black 1.5pt solid"&gt;Exercise price&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Options&lt;br/&gt; outstanding&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Weighted&lt;br/&gt; average &lt;br/&gt; remaining &lt;br/&gt; contractual &lt;br/&gt; life &lt;br/&gt; (years)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Options&lt;br/&gt; exercisable&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Weighted&lt;br/&gt; average&lt;br/&gt; exercise &lt;br/&gt; price of &lt;br/&gt; exercisable &lt;br/&gt; options&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;In $&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 52%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;0&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;20,000&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;7.62&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-89"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-90"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;3.81&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;6,250&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;0.6&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;6,250&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3.81&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;26,250&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;5.99&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;6,250&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;3.81&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: justify; border-bottom: Black 1.5pt solid"&gt;Exercise price&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Options&lt;br/&gt; outstanding&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Weighted&lt;br/&gt; average &lt;br/&gt; remaining &lt;br/&gt; contractual &lt;br/&gt; life &lt;br/&gt; (years)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Options&lt;br/&gt; exercisable&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Weighted&lt;br/&gt; average&lt;br/&gt; exercise &lt;br/&gt; price of &lt;br/&gt; exercisable &lt;br/&gt; options&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;In $&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 52%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;0.28&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;3,238&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;7.92&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;827&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;0.28&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;469&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;297&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;7.99&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-91"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-92"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;1,878&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;493&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;7.99&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-93"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-94"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;4,028&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;7.94&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;827&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.28&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"&gt;&#160;&lt;/p&gt;</ifrs-full:DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory>
    <ifrs-full:NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement contextRef="c258" decimals="0" unitRef="pure">20000</ifrs-full:NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement>
    <mgic:WeightedAverageRemainingContractualLifeExercisePrice contextRef="c259">P7Y7M13D</mgic:WeightedAverageRemainingContractualLifeExercisePrice>
    <ifrs-full:NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement contextRef="c260" decimals="0" unitRef="pure">6250</ifrs-full:NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement>
    <mgic:WeightedAverageRemainingContractualLifeExercisePrice contextRef="c261">P0Y7M6D</mgic:WeightedAverageRemainingContractualLifeExercisePrice>
    <mgic:WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice contextRef="c260" decimals="INF" unitRef="shares">6250</mgic:WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice>
    <ifrs-full:WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019 contextRef="c260" decimals="2" unitRef="usdPershares">3.81</ifrs-full:WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019>
    <ifrs-full:NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement contextRef="c238" decimals="0" unitRef="pure">26250</ifrs-full:NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement>
    <mgic:WeightedAverageRemainingContractualLifeExercisePrice contextRef="c239">P5Y11M26D</mgic:WeightedAverageRemainingContractualLifeExercisePrice>
    <mgic:WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice contextRef="c238" decimals="INF" unitRef="shares">6250</mgic:WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice>
    <ifrs-full:WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019 contextRef="c238" decimals="2" unitRef="usdPershares">3.81</ifrs-full:WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019>
    <mgic:PurchaseOfOptionShares contextRef="c244" decimals="0" unitRef="shares">4028</mgic:PurchaseOfOptionShares>
    <mgic:PurchaseOfShares contextRef="c2" decimals="0" unitRef="shares">4028</mgic:PurchaseOfShares>
    <mgic:DescriptionOfExercisePriceRange contextRef="c245">$0.28-$1,878</mgic:DescriptionOfExercisePriceRange>
    <ifrs-full:NumberOfSharesIssuedAndFullyPaid contextRef="c244" decimals="0" unitRef="shares">827</ifrs-full:NumberOfSharesIssuedAndFullyPaid>
    <ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement contextRef="c256" decimals="0" unitRef="pure">4028</ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement>
    <ifrs-full:WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019 contextRef="c256" decimals="2" unitRef="usdPershares">264.67</ifrs-full:WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019>
    <ifrs-full:NumberOfOutstandingShareOptions contextRef="c257" decimals="0" unitRef="pure">4028</ifrs-full:NumberOfOutstandingShareOptions>
    <ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019 contextRef="c257" decimals="2" unitRef="usdPershares">264.67</ifrs-full:WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019>
    <mgic:WeightedAverageRemainingContractualTermOutstandingEnding contextRef="c256">P7Y11M8D</mgic:WeightedAverageRemainingContractualTermOutstandingEnding>
    <mgic:ShareBasedCompensationsAggregateIntrinsicValueOutstanding contextRef="c257" decimals="-3" unitRef="usd">7499000</mgic:ShareBasedCompensationsAggregateIntrinsicValueOutstanding>
    <ifrs-full:NumberOfShareOptionsExercisableInSharebasedPaymentArrangement contextRef="c257" decimals="0" unitRef="pure">827</ifrs-full:NumberOfShareOptionsExercisableInSharebasedPaymentArrangement>
    <ifrs-full:WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019 contextRef="c257" decimals="2" unitRef="usdPershares">0.28</ifrs-full:WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019>
    <mgic:WeightedAverageRemainingContractualTermExercisable contextRef="c256">P7Y11M1D</mgic:WeightedAverageRemainingContractualTermExercisable>
    <mgic:ShareBasedCompensationAggregateIntrinsicValueExercisable contextRef="c257" decimals="-3" unitRef="usd">1839000</mgic:ShareBasedCompensationAggregateIntrinsicValueExercisable>
    <mgic:UnrecognizedCompensationCostRelatedToNonVestedOptions contextRef="c244" decimals="-3" unitRef="usd">2885000</mgic:UnrecognizedCompensationCostRelatedToNonVestedOptions>
    <mgic:WeightedAverageRemainingContractualLifeOfOutstandingShareOption contextRef="c245">P1Y1M17D</mgic:WeightedAverageRemainingContractualLifeOfOutstandingShareOption>
    <ifrs-full:NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement contextRef="c262" decimals="0" unitRef="pure">3238</ifrs-full:NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement>
    <mgic:WeightedAverageRemainingContractualLifeExercisePrice contextRef="c263">P7Y11M1D</mgic:WeightedAverageRemainingContractualLifeExercisePrice>
    <mgic:WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice contextRef="c262" decimals="INF" unitRef="shares">827</mgic:WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice>
    <ifrs-full:WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019 contextRef="c262" decimals="2" unitRef="usdPershares">0.28</ifrs-full:WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019>
    <ifrs-full:NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement contextRef="c264" decimals="0" unitRef="pure">297</ifrs-full:NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement>
    <mgic:WeightedAverageRemainingContractualLifeExercisePrice contextRef="c265">P7Y11M26D</mgic:WeightedAverageRemainingContractualLifeExercisePrice>
    <ifrs-full:NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement contextRef="c266" decimals="0" unitRef="pure">493</ifrs-full:NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement>
    <mgic:WeightedAverageRemainingContractualLifeExercisePrice contextRef="c267">P7Y11M26D</mgic:WeightedAverageRemainingContractualLifeExercisePrice>
    <ifrs-full:NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement contextRef="c244" decimals="0" unitRef="pure">4028</ifrs-full:NumberOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement>
    <mgic:WeightedAverageRemainingContractualLifeExercisePrice contextRef="c245">P7Y11M8D</mgic:WeightedAverageRemainingContractualLifeExercisePrice>
    <mgic:WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice contextRef="c244" decimals="INF" unitRef="shares">827</mgic:WeightedAverageExercisePriceOfOtherEquityInstrumentsOptionsExercisableExercisePrice>
    <ifrs-full:WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019 contextRef="c244" decimals="2" unitRef="usdPershares">0.28</ifrs-full:WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisableInSharebasedPaymentArrangement2019>
    <ifrs-full:WeightedAverageSharePriceShareOptionsGranted2019 contextRef="c0" decimals="0" unitRef="usdPershares">2110</ifrs-full:WeightedAverageSharePriceShareOptionsGranted2019>
    <ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019 contextRef="c0">P8Y</ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019>
    <mgic:WeightedAverageExpectedExerciseFactor contextRef="c0" decimals="1" unitRef="pure">1.5</mgic:WeightedAverageExpectedExerciseFactor>
    <ifrs-full:ExpectedDividendAsPercentageShareOptionsGranted contextRef="c0" decimals="2" unitRef="pure">0</ifrs-full:ExpectedDividendAsPercentageShareOptionsGranted>
    <ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted contextRef="c0" decimals="2" unitRef="pure">0.41</ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted>
    <ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted contextRef="c250" decimals="4" unitRef="pure">0.0328</ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted>
    <ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted contextRef="c251" decimals="4" unitRef="pure">0.0365</ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted>
    <mgic:FairValueOfOptionAtTheGrantDate contextRef="c250" decimals="0" unitRef="usdPershares">1078</mgic:FairValueOfOptionAtTheGrantDate>
    <mgic:FairValueOfOptionAtTheGrantDate contextRef="c251" decimals="0" unitRef="usdPershares">2126</mgic:FairValueOfOptionAtTheGrantDate>
    <ifrs-full:ExpenseFromSharebasedPaymentTransactionsWithEmployees contextRef="c246" decimals="-3" unitRef="usd">956000</ifrs-full:ExpenseFromSharebasedPaymentTransactionsWithEmployees>
    <ifrs-full:ExpenseFromSharebasedPaymentTransactionsWithEmployees contextRef="c247" decimals="-3" unitRef="usd">2079000</ifrs-full:ExpenseFromSharebasedPaymentTransactionsWithEmployees>
    <ifrs-full:ExplanationOfEffectOfSharebasedPaymentsOnProfitOrLoss contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Year ended December 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: justify"&gt;Selling and marketing expenses&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;956&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;(56&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;General and administrative expenses&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-95"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,135&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;956&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;2,079&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:ExplanationOfEffectOfSharebasedPaymentsOnProfitOrLoss>
    <mgic:SellingAndMarketingExpenses contextRef="c246" decimals="-3" unitRef="usd">-956000</mgic:SellingAndMarketingExpenses>
    <mgic:SellingAndMarketingExpenses contextRef="c247" decimals="-3" unitRef="usd">56000</mgic:SellingAndMarketingExpenses>
    <ifrs-full:GeneralAndAdministrativeExpense contextRef="c247" decimals="-3" unitRef="usd">2135000</ifrs-full:GeneralAndAdministrativeExpense>
    <ifrs-full:AdjustmentsForSharebasedPayments contextRef="c246" decimals="-3" unitRef="usd">956000</ifrs-full:AdjustmentsForSharebasedPayments>
    <ifrs-full:AdjustmentsForSharebasedPayments contextRef="c247" decimals="-3" unitRef="usd">2079000</ifrs-full:AdjustmentsForSharebasedPayments>
    <ifrs-full:DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td style="width: 0in"/&gt;
    &lt;td style="width: 0.75in; text-align: left"&gt;&lt;span style="font-size: 10pt"&gt;&lt;b&gt;NOTE 16:-&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;&lt;b&gt;EMPLOYEE BENEFIT LIABILITIES&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in"&gt;&lt;span style="text-transform: uppercase"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.75in"&gt;&lt;span style="background-color: white"&gt;Employee
benefits consist of post-employment benefits and termination benefits.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font-size: 10pt"&gt;a)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;&lt;span style="text-decoration:underline"&gt;Post-employment benefits&lt;/span&gt;:&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;span style="background-color: white"&gt;According
to the labor laws and Severance Pay Law in Israel, the Israeli companies in the Group are required to pay compensation to an employee
upon dismissal or retirement or to make current contributions in defined contribution plans pursuant to section&#160;14 to the Severance
Pay Law, as specified below. These liabilities are accounted for as a post-employment benefit. The computation of the employee benefit
liability is made according to the current employment contract based on an employee&#x2019;s salary and employment term which establish
the entitlement to receive the compensation.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;span style="background-color: white"&gt;The
post-employment employee benefits are normally financed by contributions classified as a defined benefit plan or as a defined contribution
plan, as detailed below.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 1in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font-size: 10pt"&gt;1)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;&lt;span style="text-decoration:underline"&gt;Defined contribution plans&lt;/span&gt;:&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"&gt;&lt;span style="background-color: white"&gt;Section&#160;14
of the Severance Pay Law, 1963 applies to part of the compensation payments, pursuant to which the fixed contributions paid into pension
funds and/or policies of insurance companies release the Company from any additional liability to employees for whom said contributions
were made. These contributions and contributions for benefits represent defined contribution plans.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"&gt;Severance expenses for the years 2021
and 2022 were $5,267 and $7,078, respectively.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 1in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font-size: 10pt"&gt;2)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;&lt;span style="text-decoration:underline"&gt;U.S. employees defined contribution
plan&lt;/span&gt;:&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"&gt;&lt;span style="background-color: white"&gt;The
Company&#x2019;s U.S. Subsidiaries have a 401(k) defined contribution plan covering certain employees in the U.S. All eligible employees
may elect to contribute up to 100% of their annual compensation to the plan through salary deferrals, subject to Internal Revenue Service
limits. The U.S. Subsidiary matches up to 3% of employee contributions up to the plan with no limitation.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 1in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font-size: 10pt"&gt;3)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;&lt;span style="text-decoration:underline"&gt;Defined benefit plans&lt;/span&gt;:&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"&gt;&lt;span style="background-color: white"&gt;The
Company accounts for that part of the payment of compensation that is not covered by contributions in defined contribution plans, as above,
as a defined benefit plan for which an employee benefit liability is recognized and for which the Company deposits amounts in central
severance pay funds and in qualifying insurance policies.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font-size: 10pt"&gt;b)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;Composition of defined benefit
plans is as follows:&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;January&#160;1,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: justify"&gt;Defined benefit obligation&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;5,545&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;4,551&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;2,476&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -8.5pt; padding-left: 8.5pt"&gt;Fair value of plan assets&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(4,673&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(3,646&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(1,575&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -8.5pt; padding-left: 8.5pt"&gt;Net defined benefit liability&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;872&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;905&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;901&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory>
    <mgic:SeveranceExpenses contextRef="c5" decimals="0" unitRef="usd">5267</mgic:SeveranceExpenses>
    <mgic:SeveranceExpenses contextRef="c0" decimals="0" unitRef="usd">7078</mgic:SeveranceExpenses>
    <mgic:AnnualCompensationPercentage contextRef="c2" decimals="2" unitRef="pure">1</mgic:AnnualCompensationPercentage>
    <mgic:EmployeeContributionsPercentage contextRef="c2" decimals="2" unitRef="pure">0.03</mgic:EmployeeContributionsPercentage>
    <ifrs-full:DisclosureOfDefinedBenefitPlansExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;January&#160;1,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;December&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: justify"&gt;Defined benefit obligation&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;5,545&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;4,551&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;2,476&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -8.5pt; padding-left: 8.5pt"&gt;Fair value of plan assets&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(4,673&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(3,646&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(1,575&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -8.5pt; padding-left: 8.5pt"&gt;Net defined benefit liability&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;872&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;905&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;901&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfDefinedBenefitPlansExplanatory>
    <ifrs-full:DefinedBenefitObligationAtPresentValue contextRef="c3" decimals="-3" unitRef="usd">5545000</ifrs-full:DefinedBenefitObligationAtPresentValue>
    <ifrs-full:DefinedBenefitObligationAtPresentValue contextRef="c4" decimals="-3" unitRef="usd">4551000</ifrs-full:DefinedBenefitObligationAtPresentValue>
    <ifrs-full:DefinedBenefitObligationAtPresentValue contextRef="c2" decimals="-3" unitRef="usd">2476000</ifrs-full:DefinedBenefitObligationAtPresentValue>
    <ifrs-full:PlanAssetsAtFairValue contextRef="c3" decimals="-3" unitRef="usd">-4673000</ifrs-full:PlanAssetsAtFairValue>
    <ifrs-full:PlanAssetsAtFairValue contextRef="c4" decimals="-3" unitRef="usd">-3646000</ifrs-full:PlanAssetsAtFairValue>
    <ifrs-full:PlanAssetsAtFairValue contextRef="c2" decimals="-3" unitRef="usd">-1575000</ifrs-full:PlanAssetsAtFairValue>
    <ifrs-full:NoncurrentProvisionsForEmployeeBenefits contextRef="c3" decimals="-3" unitRef="usd">872000</ifrs-full:NoncurrentProvisionsForEmployeeBenefits>
    <ifrs-full:NoncurrentProvisionsForEmployeeBenefits contextRef="c4" decimals="-3" unitRef="usd">905000</ifrs-full:NoncurrentProvisionsForEmployeeBenefits>
    <ifrs-full:NoncurrentProvisionsForEmployeeBenefits contextRef="c2" decimals="-3" unitRef="usd">901000</ifrs-full:NoncurrentProvisionsForEmployeeBenefits>
    <ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"/&gt;&lt;td style="width: 0.75in; text-align: left"&gt;&lt;span style="font-size: 10pt"&gt;&lt;b&gt;NOTE 17:-&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;&lt;b&gt;COMMITMENTS AND CONTINGENCIES&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font-size: 10pt"&gt;a.&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;Guarantees and Collaterals:&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;As of December 31, 2022, the Company has
provided performance bank guarantees as security for the performance of various contracts with customers as well as to secure future payments
in respect of lease agreements in the amount of $2,053 and $912, respectively. As of December 31, 2022, the Company has restricted bank
deposits of $ 31 in favor of the issuing banks.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td style="width: 0.75in; text-align: justify"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.25in; text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;b.&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;From time to time, the Company and/or its subsidiaries are subject to legal, administrative and regulatory proceedings, claims, demands and investigations in the ordinary course of business, including claims with respect to intellectual property, contracts, employment and other matters. The Company accrues a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Significant judgment is required in both the determination of probability and the determination as to whether a loss is reasonably estimable. These accruals are reviewed and adjusted to reflect the impact of negotiations, settlements, rulings, advice of legal counsel and other information and events pertaining to a particular matter.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Lawsuits have been brought against the
Company in the ordinary course of business. The Company intends to defend itself vigorously against those lawsuits.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;In September 2016, an Israeli software
company, that was previously involved in an arbitration proceeding with us in 2015 and won damages from us of $2.4 million, filed a lawsuit
seeking damages of NIS 34,106 against the Company and one its subsidiaries. This lawsuit was filed as part of an arbitration proceeding.
In the lawsuit, the software company claimed that warning letters that the Company sent to its clients in Israel and abroad, warning those
clients against the possibility that the conversion procedure offered by the software company may amount to an infringement of the Company&#x2019;s
copyrights (the &#x201c;Warning Letters&#x201d;), as well as other alleged actions, have caused the software company damages resulting from
loss of potential business. The lawsuit is based on rulings given in the 2015 arbitration proceeding in which it was allegedly ruled that
the Warning Letters constituted a breach of a non-disclosure agreement (NDA) signed between the parties.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company rejected the claims by the
Israeli software company and moved to dismiss the lawsuit entirely. In July 2021, an arbitrator assigned to the case rendered his decision
and determined that the Company should pay the plaintiffs damages in the amount of $1.6 million, which was paid in August 2021 and included
in the Company&#x2019;s results of operations for the year ended December 31, 2021.&lt;/p&gt;</ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory>
    <mgic:LeaseAmount contextRef="c268" decimals="-3" unitRef="usd">2053000</mgic:LeaseAmount>
    <mgic:LeaseAmount contextRef="c269" decimals="-3" unitRef="usd">912000</mgic:LeaseAmount>
    <ifrs-full:DepositsFromBanks contextRef="c2" decimals="-3" unitRef="usd">31000</ifrs-full:DepositsFromBanks>
    <ifrs-full:Cash contextRef="c270" decimals="-5" unitRef="usd">2400000</ifrs-full:Cash>
    <mgic:LossContingencyDamagesSoughtValues contextRef="c270" decimals="0" unitRef="ils">34106</mgic:LossContingencyDamagesSoughtValues>
    <ifrs-full:Cash contextRef="c271" decimals="-5" unitRef="usd">1600000</ifrs-full:Cash>
    <ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"/&gt;&lt;td style="width: 0.75in; text-align: left"&gt;NOTE 18:-&lt;/td&gt;&lt;td style="text-align: justify"&gt;EQUITY&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td style="width: 0.75in; text-align: justify"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.25in; text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;a.&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&lt;span style="font-size: 10pt"&gt;The Ordinary shares of the
Company are listed on the NASDAQ Global Select Market in the United States and are traded on the Tel-Aviv Stock Exchange in Israel.&lt;/span&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;b.&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;Accumulated other comprehensive income (loss):&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left"&gt;Accumulated foreign currency translation adjustments&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;9,238&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;(6,585&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Accumulated unrealized gain on derivative instruments, net&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;26&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;26&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Total other comprehensive income&#160;(loss)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;9,264&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(6,559&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td style="width: 72px; text-align: justify"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 24px; text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;c.&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;Dividend distribution policy&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;On August 9, 2017, the Company&#x2019;s
Board of Directors decided to amend the dividend distribution policy announced in 2012. According to the Company&#x2019;s amended policy,
each year the Company will distribute a dividend of up to 75% of its annual distributable profits. The Company&#x2019;s Board of Directors
may at its discretion and at any time, change, whether as a result of a one-time decision or a change in policy, the rate of dividend
distributions and/or decide not to distribute a dividend, all at its discretion.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;On March 8, 2021, the Company declared
a dividend distribution of $&#160;0.21 per share ($ 10,297 in the aggregate) which was paid on April 7, 2021. On August 12, 2021, the
Company declared a dividend distribution of $ 0.23 per share ($ 11,480 in the aggregate) which was paid on September 14, 2021.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;On March 2, 2022, the Company declared
a dividend distribution of $&#160;0.216 per share ($ 10,612 in the aggregate) which was paid on April 7, 2022. On August 11, 2022, the
Company declared a dividend distribution of $ 0.29 per share ($ 14,237 in the aggregate) which was paid on September 13, 2022.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;On March 9, 2023, the Company declared
a dividend distribution of $0.3 per share ($14,728 in the aggregate), see also Note 24.&lt;/p&gt;</ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory>
    <mgic:ScheduleOfAccumulatedOtherComprehensiveIncomeLossExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left"&gt;Accumulated foreign currency translation adjustments&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;9,238&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;(6,585&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Accumulated unrealized gain on derivative instruments, net&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;26&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;26&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Total other comprehensive income&#160;(loss)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;9,264&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(6,559&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;</mgic:ScheduleOfAccumulatedOtherComprehensiveIncomeLossExplanatory>
    <ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax contextRef="c5" decimals="-3" unitRef="usd">9238000</ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax>
    <ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax contextRef="c0" decimals="-3" unitRef="usd">-6585000</ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax>
    <mgic:AccumulatedUnrealizedGainOnDerivativeInstrumentsNet contextRef="c5" decimals="-3" unitRef="usd">26000</mgic:AccumulatedUnrealizedGainOnDerivativeInstrumentsNet>
    <mgic:AccumulatedUnrealizedGainOnDerivativeInstrumentsNet contextRef="c0" decimals="-3" unitRef="usd">26000</mgic:AccumulatedUnrealizedGainOnDerivativeInstrumentsNet>
    <ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="c5" decimals="-3" unitRef="usd">9264000</ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans>
    <ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans contextRef="c0" decimals="-3" unitRef="usd">-6559000</ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans>
    <mgic:DividendDistributed contextRef="c272" decimals="2" unitRef="pure">0.75</mgic:DividendDistributed>
    <ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare contextRef="c273" decimals="2" unitRef="usdPershares">0.21</ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare>
    <ifrs-full:DividendsPayable contextRef="c274" decimals="-3" unitRef="usd">10297000</ifrs-full:DividendsPayable>
    <ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare contextRef="c275" decimals="2" unitRef="usdPershares">0.23</ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare>
    <ifrs-full:DividendsPayable contextRef="c276" decimals="-3" unitRef="usd">11480000</ifrs-full:DividendsPayable>
    <ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare contextRef="c277" decimals="3" unitRef="usdPershares">0.216</ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare>
    <ifrs-full:DividendsPayable contextRef="c278" decimals="-3" unitRef="usd">10612000</ifrs-full:DividendsPayable>
    <ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare contextRef="c279" decimals="2" unitRef="usdPershares">0.29</ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare>
    <ifrs-full:DividendsPayable contextRef="c280" decimals="-3" unitRef="usd">14237000</ifrs-full:DividendsPayable>
    <ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare contextRef="c281" decimals="1" unitRef="usdPershares">0.3</ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare>
    <ifrs-full:DividendsPayable contextRef="c282" decimals="-3" unitRef="usd">14728000</ifrs-full:DividendsPayable>
    <ifrs-full:DisclosureOfIncomeTaxExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="text-transform: uppercase; vertical-align: top; text-align: justify"&gt;
&lt;td style="text-transform: uppercase; width: 0in"/&gt;&lt;td style="text-transform: uppercase; width: 0.75in; text-align: left"&gt;Note 19:-&lt;/td&gt;&lt;td style="text-transform: uppercase; text-align: justify"&gt;INCOME tax&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in"&gt;a.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Israeli taxation:&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"/&gt;&lt;td style="width: 0.25in"&gt;1)&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Corporate tax rate in Israel&lt;/span&gt;:&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"&gt;Taxable income of
Israeli companies was generally subject to corporate tax at the rate of 23% in 2021 and 2022. Some of our Israeli subsidiaries are eligible
for certain tax benefits, as described below.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"/&gt;&lt;td style="width: 0.25in"&gt;2)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Tax benefits under the Israeli Law for the Encouragement of Capital Investments, 1959 (the &#x201c;Law&#x201d;):&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.4pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"&gt;&lt;span style="text-decoration:underline"&gt;Amendment 73 to
the law:&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"&gt;In December 2016,
the Economic Efficiency Law (Legislative Amendments for Applying the Economic Policy for the 2017 and 2018 Budget Years) 2016, which includes
Amendment 73 to the Law for the Encouragement of Capital Investments (&#x201c;the 2017 Amendment&#x201d;) was published and was pending
the publication of regulations, in May 2017 regulations were promulgated by the Finance Ministry to implement the &#x201c;Nexus Principles&#x201d;
based on OECD guidelines published as part of the Base Erosion and Profit Shifting (BEPS) project. Following the publication of the regulations
the 2017 Amendment became fully effective. According to the 2017 Amendment, a Preferred Technological Enterprise, as defined in the 2017
Amendment, with total consolidated revenues of the Company companies is less than NIS 10 billion, shall be subject to 12% tax rate on
income derived from intellectual property (in development area A&#x2014;a tax rate of 7.5%). In order to qualify as a Preferred technological
enterprise certain criterion must be met, such as a minimum ratio of annual R&amp;amp;D expenditure and R&amp;amp;D employees, as well as having
at least 25% of annual revenues derived from exports.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"&gt;The 2017 Amendment
further provides that a technology company satisfying certain conditions will qualify as a Special Preferred Technology Enterprise (&#x201c;SPTE&#x201d;)
(an enterprise for which, among others, total consolidated revenues of its parent company and all subsidiaries is at least NIS 10 billion)
and will thereby enjoy a reduced corporate tax rate of 6% on PTI regardless of the company&#x2019;s geographic location within Israel.
In addition, a SPTE will enjoy a reduced corporate tax rate of 6% on capital gain derived from the sale of certain &#x201c;Benefited Intangible
Assets&#x201d; to a related foreign company if the Benefited Intangible Assets were either developed by the Special Preferred Technology
Enterprise or acquired from a foreign company on or after January 1, 2017.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"&gt;Starting from 2017
under Amendment 73 to the Investment Law, part of the Company&#x2019;s taxable income in Israel is entitled to a preferred 12% tax rate.
Since 2019, under SPTE the tax rate for part of the Company&#x2019;s taxable income in Israel has been reduced to a 6% corporate tax rate.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"&gt;One of its Israeli
subsidiaries have elected to apply the new incentives regime under the Amendment to their industrial activity in Israel, subject to meeting
its requirements, starting in 2011.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"&gt;In 2015, the Company
transitioned to the preferred enterprise track entitling it to a preferred 16% tax rate under Amendment 73 to the Investment Law.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"&gt;&lt;span style="text-decoration:underline"&gt;Amendment 74 to
the Encouragement Law:&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"&gt;On November 15, 2021,
the Economic Efficiency Law (Legislative Amendments for Achieving Budget Targets for the 2021 and 2022 Budget Years), 2021 (the &#x201c;Economic
Efficiency Law&#x201d;), was enacted. This Law establishes a temporary order allowing Israeli companies to release tax-exempt earnings
(&#x201c;trapped earnings&#x201d; or &#x201c;accumulated earnings&#x201d;) accumulated until December 31, 2020, through a mechanism established
for a reduced corporate income tax rate applicable to those earnings (the &#x201c;Temporary Order&#x201d;)&lt;span style="font-family: Times New Roman, Times, Serif"&gt;.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"&gt;In addition to the
reduced corporate income tax (CIT) rate, Article 74 to the Encouragement Law was amended whereby effective from August 15, 2021, for any
dividend distribution (including a dividend as per Article 51B to the Encouragement Law) by a company which has trapped earnings, there
will be a requirement to allocate a portion of that distribution to the trapped earnings&lt;span style="font-family: Times New Roman, Times, Serif"&gt;.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"&gt;The tax-exempt income
is attributable to certain Group members&#x2019; previous status as &#x201c;Approved Enterprise&#x201d; and &#x201c;Benefited Enterprise&#x201d;.
Such tax-exempt income cannot be distributed to shareholders without subjecting the Company to payable income taxes. If dividends are
distributed from previous tax-exempt profits, the Company will be liable for income tax at the rate applicable to its profits from the
Approved Enterprise in at the tax rate enacted in the year in which the income was earned&lt;span style="font-family: Times New Roman, Times, Serif"&gt;.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"&gt;According to the Temporary
Order, the reduction of CIT will apply to earnings that are released (with no requirement for an actual distribution) within a period
of one year from the date of enactment of the Temporary Order. The reduction in the CIT is dependent on the proportion of the trapped
earnings that are released in relation to the total trapped earnings, and on the applicable CIT rate in the years the earnings were generated.
Consequently, the larger the proportion of the trapped earnings that are released, the lower the tax in respect of the distribution. The
minimum tax rate is 6%. Further, a company that elects to pay a reduced CIT is required to invest in its industrial enterprise a designated
amount in accordance with the Economic Efficiency Law within a period of five years commencing from the tax year in which the election
is made. The designated investment should be utilized for the acquisition of production assets, and/or investments in research and development
and/or compensation to additional new employees&lt;span style="font-family: Times New Roman, Times, Serif"&gt;.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"&gt;In November 2022,
the Company elected to benefit from the Temporary Order and filed its application for the Temporary Order and paid the required reduced
CIT as per the provisions of the Economic Efficiency Law in respect of its total accumulated tax-exempt earnings amounting to NIS 25,022
(approximately $7,100), and accordingly recognized a tax expense of NIS 2,502 (approximately $711). As of December 31,2022, all the trapped
earnings were released.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"&gt;The Company has received
final tax assessments through the year 2016.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"&gt;The Company subsidiaries
have received final tax assessments (or assessments that are deemed final) through the tax year 2017.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"/&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"&gt;Tax benefits under
the Law for the Encouragement of Industry (Taxes), 1969:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"&gt;The Company qualifies
as an Industrial Company within the meaning of the Law for the Encouragement of Industry (Taxes), 1969 (the &#x201c;Industrial Encouragement
Law&#x201d;). The Industrial Encouragement Law defines an &#x201c;Industrial Company&#x201d; as a company that is resident in Israel and
that derives at least 90% of its income in any tax year, other than income from defense loans, capital gains, interest and dividends,
from an enterprise whose major activity in a given tax year is industrial production. Under the Industrial Encouragement Law, the Company
is entitled to amortization of the cost of purchased know-how and patents over an eight-year period for tax purposes as well as accelerated
depreciation rates on equipment and buildings.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"&gt;Eligibility for the
benefits under the Industrial Encouragement Law is not subject to receipt of prior approval from any governmental authority.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"/&gt;&lt;td style="width: 0.25in"&gt;3)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Foreign Exchange Regulations:&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"&gt;Under the Foreign
Exchange Regulations, the Company and one of its Israeli subsidiaries calculate their tax liability in U.S. dollars according to certain
orders. The tax liability, as calculated in U.S. dollars is translated into NIS according to the exchange rate as of December 31 of each
year.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"/&gt;&lt;td style="width: 0.25in"&gt;4)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Income tax on non-Israeli subsidiaries&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"&gt;Non-Israeli subsidiaries
are taxed according to the tax laws in their respective domiciles of residence. If earnings are distributed to Israel in the form of dividends
or otherwise, the Company may be subject to additional Israeli income taxes (subject to an adjustment for foreign tax credits) and foreign
withholding tax rates.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"&gt;Neither Israeli income
taxes, foreign withholding taxes nor deferred income taxes were provided in relation to undistributed earnings of the non-Israeli subsidiaries.
This is because the Company intends to permanently reinvest undistributed earnings in the foreign subsidiaries in which those earnings
arose. If these earnings were distributed in the form of dividends or otherwise, the Company would be subject to additional Israeli income
taxes (subject to an adjustment for foreign tax credits) and non-Israeli withholding taxes.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"&gt;As of December 31,
2022, the Company had $28,950 of cash and cash equivalents that are currently held outside of Israel that would be subject to income taxes
if distributed as dividends. However, a determination of the amount of the unrecognized deferred tax liability for temporary difference
related to those undistributed earnings of foreign subsidiaries is not practicable due to the complexity of the structure of our group
of subsidiaries for tax purposes and the difficulty of projecting the amount of future tax liability.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 141.75pt; text-align: justify; text-indent: -28.35pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"/&gt;&lt;td style="width: 0.25in"&gt;5)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Net operating loss carried forward:&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.25in 0pt 0; text-align: justify; text-indent: -0.25in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"&gt;As of December 31,
2022, two Israeli subsidiaries of the Company had operating loss carryforwards of $10,150 (mainly F.T.S Formula Telecom Solutions, Ltd.
which accounts for $8,959), which can be carried forward to offset against taxable income in the future for an indefinite period.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.25in 0pt 0; text-align: left; text-indent: -0.25in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"&gt;One of the Company&#x2019;s
subsidiaries in England had estimated total available tax loss carryforwards of $3,536 as of December 31, 2022, which can be carried forward
to offset against future taxable income&lt;span style="font-family: Times New Roman, Times, Serif"&gt;.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.25in 0pt 0; text-align: left; text-indent: -0.25in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"&gt;Two of the Company&#x2019;s
subsidiaries in U.S. had estimated total available tax loss carryforwards of $7,741 as of December 31, 2022, which can be carried forward
to offset against future taxable income.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 1in"/&gt;&lt;td style="width: 0.25in"&gt;6)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Deferred tax liabilities, net:&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 1.25in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;1)&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Presentation in the consolidated statements of financial
position&lt;/span&gt;:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;January 1,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left; padding-left: 1.1pt"&gt;Deferred taxes assets&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;6,235&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;7,993&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;3,618&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; padding-left: 1.1pt"&gt;Deferred tax liabilities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(17,484&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(17,945&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(10,686&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt; padding-left: 1.1pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(11,249&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(9,952&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(7,068&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 1.25in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;2)&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Composition of deferred taxes&lt;/span&gt;:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;January 1,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left; padding-left: 1.1pt"&gt;Net operating losses carried forward&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;168&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;312&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;349&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-left: 1.1pt"&gt;Intangibles, fixed asset, lease liabilities and right of use assets&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(12,395&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(12,177&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(11,929&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -11.35pt; padding-left: 11.35pt"&gt;Reserves and allowances&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;982&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,913&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;4,512&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-bottom: 4pt; padding-left: 1.1pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(11,249&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(9,952&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(7,068&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;
&lt;tr style="text-transform: uppercase; vertical-align: top; text-align: justify"&gt;
&lt;td style="text-transform: uppercase; width: 0in"/&gt;&lt;td style="text-transform: uppercase; text-align: left; width: 0.75in"&gt;Note 19:-&lt;/td&gt;&lt;td style="text-transform: uppercase; text-align: justify"&gt;INCOME tax (C&lt;span style="text-transform: none"&gt;ont&lt;/span&gt;.)&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 1in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;7)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Income tax (tax benefit) consist of the following:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Year ended&lt;br/&gt; December&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;Current:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Domestic&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;7,847&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;11,368&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Foreign&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;6,123&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;6,304&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;13,970&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;17,672&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Deferred taxes:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Domestic&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,149&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,318&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Foreign&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2,543&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(5,216&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(3,692&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(6,534&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Taxes on income&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;10,278&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;11,138&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 1in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;8)&lt;/td&gt;&lt;td style="text-align: justify"&gt;Theoretical tax:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"&gt;The following table
presents reconciliation between the theoretical tax expense, assuming that all income was taxed at statutory tax rates, and the actual
income tax expense, as recorded in the Company&#x2019;s consolidated statements of profit or loss:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.85pt; text-align: center"&gt;&lt;b&gt;Year
ended &lt;br/&gt;
December 31,&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Income before income taxes, as per the statement of operations&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;45,617&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;57,417&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Statutory tax rate in Israel&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;23&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;%&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;23&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;%&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Tax computed at the statutory tax rate&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;10,494&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;13,205&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Tax adjustment in respect of different tax rates&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;283&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,756&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Deferred taxes on losses for which deferred taxes were not created&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(80&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(511&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Tax-deductible costs, not included in the accounting costs&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,041&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(2,680&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Non-deductible expenses and tax expenses in respect of prior years, net&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,001&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,670&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Uncertain tax positions and other&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(379&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;210&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Taxes on income&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;10,278&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;11,138&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfIncomeTaxExplanatory>
    <mgic:TaxableIncomePercentage contextRef="c5" decimals="2" unitRef="pure">0.23</mgic:TaxableIncomePercentage>
    <mgic:TaxableIncomePercentage contextRef="c0" decimals="2" unitRef="pure">0.23</mgic:TaxableIncomePercentage>
    <ifrs-full:TaxRateEffectFromChangeInTaxRate contextRef="c283" decimals="2" unitRef="pure">0.12</ifrs-full:TaxRateEffectFromChangeInTaxRate>
    <ifrs-full:TaxRateEffectOfTaxLosses contextRef="c283" decimals="3" unitRef="pure">0.075</ifrs-full:TaxRateEffectOfTaxLosses>
    <mgic:LeasePercentage contextRef="c283" decimals="2" unitRef="pure">0.25</mgic:LeasePercentage>
    <ifrs-full:TaxRateEffectFromChangeInTaxRate contextRef="c284" decimals="2" unitRef="pure">0.06</ifrs-full:TaxRateEffectFromChangeInTaxRate>
    <ifrs-full:TaxRateEffectFromChangeInTaxRate contextRef="c285" decimals="2" unitRef="pure">0.06</ifrs-full:TaxRateEffectFromChangeInTaxRate>
    <ifrs-full:TaxRateEffectOfTaxLosses contextRef="c0" decimals="2" unitRef="pure">0.12</ifrs-full:TaxRateEffectOfTaxLosses>
    <ifrs-full:TaxRateEffectOfTaxLosses contextRef="c286" decimals="2" unitRef="pure">0.06</ifrs-full:TaxRateEffectOfTaxLosses>
    <ifrs-full:TaxRateEffectFromChangeInTaxRate contextRef="c251" decimals="2" unitRef="pure">0.16</ifrs-full:TaxRateEffectFromChangeInTaxRate>
    <ifrs-full:TaxEffectFromChangeInTaxRate contextRef="c250" decimals="0" unitRef="usd">6</ifrs-full:TaxEffectFromChangeInTaxRate>
    <mgic:AccumulatedTaxExemptEarnings contextRef="c287" decimals="0" unitRef="ils">25022</mgic:AccumulatedTaxExemptEarnings>
    <mgic:AccumulatedTaxExemptEarnings contextRef="c287" decimals="-3" unitRef="usd">7100000</mgic:AccumulatedTaxExemptEarnings>
    <mgic:TaxExpenses contextRef="c287" decimals="0" unitRef="ils">2502</mgic:TaxExpenses>
    <mgic:TaxExpenses contextRef="c287" decimals="-3" unitRef="usd">711000</mgic:TaxExpenses>
    <mgic:LeasePercentage contextRef="c0" decimals="2" unitRef="pure">0.90</mgic:LeasePercentage>
    <ifrs-full:CurrentRestrictedCashAndCashEquivalents contextRef="c2" decimals="-3" unitRef="usd">28950000</ifrs-full:CurrentRestrictedCashAndCashEquivalents>
    <mgic:OperatingLossCarryforwardsAmount contextRef="c0" decimals="-3" unitRef="usd">10150000</mgic:OperatingLossCarryforwardsAmount>
    <mgic:OperatingLossCarryforwardsAmount contextRef="c288" decimals="-3" unitRef="usd">8959000</mgic:OperatingLossCarryforwardsAmount>
    <mgic:TaxLossCarryforwards contextRef="c289" decimals="-3" unitRef="usd">3536000</mgic:TaxLossCarryforwards>
    <mgic:TaxLossCarryforwards contextRef="c290" decimals="-3" unitRef="usd">7741000</mgic:TaxLossCarryforwards>
    <srt:ScheduleOfCondensedFinancialStatementsTableTextBlock contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;January 1,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left; padding-left: 1.1pt"&gt;Deferred taxes assets&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;6,235&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;7,993&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;3,618&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; padding-left: 1.1pt"&gt;Deferred tax liabilities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(17,484&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(17,945&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(10,686&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt; padding-left: 1.1pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(11,249&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(9,952&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(7,068&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt"&gt;&#160;&lt;/p&gt;</srt:ScheduleOfCondensedFinancialStatementsTableTextBlock>
    <mgic:DeferredTaxesAssets contextRef="c3" decimals="-3" unitRef="usd">6235000</mgic:DeferredTaxesAssets>
    <mgic:DeferredTaxesAssets contextRef="c4" decimals="-3" unitRef="usd">7993000</mgic:DeferredTaxesAssets>
    <mgic:DeferredTaxesAssets contextRef="c2" decimals="-3" unitRef="usd">3618000</mgic:DeferredTaxesAssets>
    <ifrs-full:DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate contextRef="c3" decimals="-3" unitRef="usd">17484000</ifrs-full:DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate>
    <ifrs-full:DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate contextRef="c4" decimals="-3" unitRef="usd">17945000</ifrs-full:DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate>
    <ifrs-full:DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate contextRef="c2" decimals="-3" unitRef="usd">10686000</ifrs-full:DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate>
    <mgic:Total contextRef="c3" decimals="-3" unitRef="usd">-11249000</mgic:Total>
    <mgic:Total contextRef="c4" decimals="-3" unitRef="usd">-9952000</mgic:Total>
    <mgic:Total contextRef="c2" decimals="-3" unitRef="usd">-7068000</mgic:Total>
    <mgic:DisclosureOfCompositionOfDeferredTaxesTableTextBlock contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;January 1,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left; padding-left: 1.1pt"&gt;Net operating losses carried forward&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;168&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;312&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;349&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-left: 1.1pt"&gt;Intangibles, fixed asset, lease liabilities and right of use assets&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(12,395&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(12,177&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(11,929&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -11.35pt; padding-left: 11.35pt"&gt;Reserves and allowances&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;982&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,913&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;4,512&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-bottom: 4pt; padding-left: 1.1pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(11,249&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(9,952&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(7,068&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt"&gt;&#160;&lt;/p&gt;</mgic:DisclosureOfCompositionOfDeferredTaxesTableTextBlock>
    <mgic:NetOperatingLossesCarriedForward contextRef="c59" decimals="-3" unitRef="usd">168000</mgic:NetOperatingLossesCarriedForward>
    <mgic:NetOperatingLossesCarriedForward contextRef="c5" decimals="-3" unitRef="usd">312000</mgic:NetOperatingLossesCarriedForward>
    <mgic:NetOperatingLossesCarriedForward contextRef="c0" decimals="-3" unitRef="usd">349000</mgic:NetOperatingLossesCarriedForward>
    <mgic:IntangiblesFixedAssetLeaseLiabilitiesAndRightOfUseAssets contextRef="c59" decimals="-3" unitRef="usd">-12395000</mgic:IntangiblesFixedAssetLeaseLiabilitiesAndRightOfUseAssets>
    <mgic:IntangiblesFixedAssetLeaseLiabilitiesAndRightOfUseAssets contextRef="c5" decimals="-3" unitRef="usd">-12177000</mgic:IntangiblesFixedAssetLeaseLiabilitiesAndRightOfUseAssets>
    <mgic:IntangiblesFixedAssetLeaseLiabilitiesAndRightOfUseAssets contextRef="c0" decimals="-3" unitRef="usd">-11929000</mgic:IntangiblesFixedAssetLeaseLiabilitiesAndRightOfUseAssets>
    <mgic:ReservesAndAllowances contextRef="c59" decimals="-3" unitRef="usd">982000</mgic:ReservesAndAllowances>
    <mgic:ReservesAndAllowances contextRef="c5" decimals="-3" unitRef="usd">1913000</mgic:ReservesAndAllowances>
    <mgic:ReservesAndAllowances contextRef="c0" decimals="-3" unitRef="usd">4512000</mgic:ReservesAndAllowances>
    <mgic:CompositionofDeferredTaxesTotal contextRef="c59" decimals="-3" unitRef="usd">-11249000</mgic:CompositionofDeferredTaxesTotal>
    <mgic:CompositionofDeferredTaxesTotal contextRef="c5" decimals="-3" unitRef="usd">-9952000</mgic:CompositionofDeferredTaxesTotal>
    <mgic:CompositionofDeferredTaxesTotal contextRef="c0" decimals="-3" unitRef="usd">-7068000</mgic:CompositionofDeferredTaxesTotal>
    <mgic:DisclosureOfIncomeTaxTableTextBlock contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Year ended&lt;br/&gt; December&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;Current:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Domestic&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;7,847&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;11,368&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Foreign&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;6,123&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;6,304&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;13,970&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;17,672&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Deferred taxes:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Domestic&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,149&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,318&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Foreign&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2,543&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(5,216&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(3,692&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(6,534&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Taxes on income&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;10,278&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;11,138&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"&gt;&#160;&lt;/p&gt;</mgic:DisclosureOfIncomeTaxTableTextBlock>
    <mgic:CurrentFederalTaxExpenseBenefi contextRef="c5" decimals="-3" unitRef="usd">7847000</mgic:CurrentFederalTaxExpenseBenefi>
    <mgic:CurrentFederalTaxExpenseBenefi contextRef="c0" decimals="-3" unitRef="usd">11368000</mgic:CurrentFederalTaxExpenseBenefi>
    <mgic:ForeignTaxExpenseBenefit contextRef="c5" decimals="-3" unitRef="usd">6123000</mgic:ForeignTaxExpenseBenefit>
    <mgic:ForeignTaxExpenseBenefit contextRef="c0" decimals="-3" unitRef="usd">6304000</mgic:ForeignTaxExpenseBenefit>
    <mgic:IncomeTaxExpensesBenefit contextRef="c5" decimals="-3" unitRef="usd">13970000</mgic:IncomeTaxExpensesBenefit>
    <mgic:IncomeTaxExpensesBenefit contextRef="c0" decimals="-3" unitRef="usd">17672000</mgic:IncomeTaxExpensesBenefit>
    <ifrs-full:ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed contextRef="c4" decimals="-3" unitRef="usd">1149000</ifrs-full:ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed>
    <ifrs-full:ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed contextRef="c2" decimals="-3" unitRef="usd">1318000</ifrs-full:ReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed>
    <mgic:DeferredForeignIncomeTaxExpenseBenefi contextRef="c5" decimals="-3" unitRef="usd">-2543000</mgic:DeferredForeignIncomeTaxExpenseBenefi>
    <mgic:DeferredForeignIncomeTaxExpenseBenefi contextRef="c0" decimals="-3" unitRef="usd">-5216000</mgic:DeferredForeignIncomeTaxExpenseBenefi>
    <mgic:DeferredIncomeTaxExpensesBenefit contextRef="c5" decimals="-3" unitRef="usd">-3692000</mgic:DeferredIncomeTaxExpensesBenefit>
    <mgic:DeferredIncomeTaxExpensesBenefit contextRef="c0" decimals="-3" unitRef="usd">-6534000</mgic:DeferredIncomeTaxExpensesBenefit>
    <mgic:TaxesOnIncome contextRef="c5" decimals="-3" unitRef="usd">10278000</mgic:TaxesOnIncome>
    <mgic:TaxesOnIncome contextRef="c0" decimals="-3" unitRef="usd">11138000</mgic:TaxesOnIncome>
    <mgic:DisclosureOfTheoreticalTaxExpenseTableTextBlock contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.85pt; text-align: center"&gt;&lt;b&gt;Year
ended &lt;br/&gt;
December 31,&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Income before income taxes, as per the statement of operations&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;45,617&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;57,417&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Statutory tax rate in Israel&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;23&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;%&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;23&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;%&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Tax computed at the statutory tax rate&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;10,494&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;13,205&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Tax adjustment in respect of different tax rates&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;283&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,756&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Deferred taxes on losses for which deferred taxes were not created&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(80&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(511&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Tax-deductible costs, not included in the accounting costs&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,041&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(2,680&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Non-deductible expenses and tax expenses in respect of prior years, net&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,001&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,670&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Uncertain tax positions and other&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(379&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;210&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Taxes on income&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;10,278&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;11,138&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</mgic:DisclosureOfTheoreticalTaxExpenseTableTextBlock>
    <mgic:IncomeBeforeIncomeTaxesAsPerTheStatementOfOperations contextRef="c5" decimals="-3" unitRef="usd">45617000</mgic:IncomeBeforeIncomeTaxesAsPerTheStatementOfOperations>
    <mgic:IncomeBeforeIncomeTaxesAsPerTheStatementOfOperations contextRef="c0" decimals="-3" unitRef="usd">57417000</mgic:IncomeBeforeIncomeTaxesAsPerTheStatementOfOperations>
    <mgic:StatutoryTaxRatePercentage contextRef="c5" decimals="2" unitRef="pure">0.23</mgic:StatutoryTaxRatePercentage>
    <mgic:StatutoryTaxRatePercentage contextRef="c0" decimals="2" unitRef="pure">0.23</mgic:StatutoryTaxRatePercentage>
    <mgic:TaxComputedAtTheStatutoryTaxRate contextRef="c5" decimals="-3" unitRef="usd">10494000</mgic:TaxComputedAtTheStatutoryTaxRate>
    <mgic:TaxComputedAtTheStatutoryTaxRate contextRef="c0" decimals="-3" unitRef="usd">13205000</mgic:TaxComputedAtTheStatutoryTaxRate>
    <ifrs-full:AdjustmentsForDeferredTaxExpense contextRef="c5" decimals="-3" unitRef="usd">283000</ifrs-full:AdjustmentsForDeferredTaxExpense>
    <ifrs-full:AdjustmentsForDeferredTaxExpense contextRef="c0" decimals="-3" unitRef="usd">-1756000</ifrs-full:AdjustmentsForDeferredTaxExpense>
    <mgic:DeferredTaxesOnLossesForWhichDeferredTaxesWereNotCreated contextRef="c5" decimals="-3" unitRef="usd">-80000</mgic:DeferredTaxesOnLossesForWhichDeferredTaxesWereNotCreated>
    <mgic:DeferredTaxesOnLossesForWhichDeferredTaxesWereNotCreated contextRef="c0" decimals="-3" unitRef="usd">-511000</mgic:DeferredTaxesOnLossesForWhichDeferredTaxesWereNotCreated>
    <ifrs-full:OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome contextRef="c5" decimals="-3" unitRef="usd">-1041000</ifrs-full:OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome>
    <ifrs-full:OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome contextRef="c0" decimals="-3" unitRef="usd">-2680000</ifrs-full:OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome>
    <mgic:NondeductibleExpensesAndTaxExpensesInRespectOfPriorYearsNet contextRef="c5" decimals="-3" unitRef="usd">1001000</mgic:NondeductibleExpensesAndTaxExpensesInRespectOfPriorYearsNet>
    <mgic:NondeductibleExpensesAndTaxExpensesInRespectOfPriorYearsNet contextRef="c0" decimals="-3" unitRef="usd">2670000</mgic:NondeductibleExpensesAndTaxExpensesInRespectOfPriorYearsNet>
    <mgic:UncertainTaxPositionsAndOther contextRef="c5" decimals="-3" unitRef="usd">-379000</mgic:UncertainTaxPositionsAndOther>
    <mgic:UncertainTaxPositionsAndOther contextRef="c0" decimals="-3" unitRef="usd">210000</mgic:UncertainTaxPositionsAndOther>
    <ifrs-full:CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods contextRef="c5" decimals="-3" unitRef="usd">10278000</ifrs-full:CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods>
    <ifrs-full:CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods contextRef="c0" decimals="-3" unitRef="usd">11138000</ifrs-full:CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods>
    <ifrs-full:DisclosureOfRevenueExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"/&gt;&lt;td style="width: 0.75in; text-align: left"&gt;&lt;span style="font-size: 10pt"&gt;&lt;b&gt;NOTE 20:-&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;&lt;b&gt;REVENUE RECOGNITION&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Remaining performance obligations represent
contract revenue that has not yet been recognized, which includes deferred revenue and amounts that will be invoiced and recognized as
revenue in future periods. The aggregate amount of consideration allocated to performance obligations either not satisfied or partially
unsatisfied was approximately&#160;$65.7&#160;million&#160;as of December 31, 2022. The Company expects to recognize approximately&#160;58%
in 2023 from remaining performance obligations as of December 31, 2022, and the remainder thereafter.&#160;Remaining performance obligations
include the remaining&#160;non-cancelable,&#160;committed and fixed portion of these contracts for their entire duration; the remaining
performance obligations related to professional services contracts that are on a time and materials basis were excluded, as the Company
elected to apply the practical expedient in accordance with IFRS 15.&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: -28.35pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Contract balances&lt;/span&gt;:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The following table provides information
about trade receivables, unbilled receivables, contract assets, and contract liabilities (deferred revenues) from contracts with customers
(in thousands):&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;January, 1&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Trade receivables (net of allowance for credit losses of $3,967, $5,071&#160;and $5,416&#160;at January 1, 2021, December 31, 2021 and 2022, respectively)&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;91,986&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;116,975&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;118,126&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Unbilled receivables&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;14,842&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;19,614&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;26,114&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Contract assets&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,231&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,482&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,240&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Long-term unbilled receivables *)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-96"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-97"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,548&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Long-term trade receivables *)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,410&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,318&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;735&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Deferred revenues (short-term contract liabilities)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;8,793&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;10,771&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;9,808&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;An analysis of past due but not impaired trade
receivables with reference to reporting date:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="38" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Past due trade receivables with aging of&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Neither&lt;br/&gt; past&lt;br/&gt; due&#160;nor &lt;br/&gt; &lt;span style="text-decoration:underline;text-decoration: none"&gt;impaired&lt;/span&gt;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Up&#160;to&#160;30 days&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;31-60 days&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;61-90 days&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;91-120 days&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Over&#160;121 days&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Unpaid&lt;br/&gt; deferred&lt;br/&gt; revenues&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Allowance&lt;br/&gt; for credit&lt;br/&gt; losses&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Total trade&lt;br/&gt; receivables,&lt;br/&gt; net&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 10%; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in"&gt;December 31, 2022&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; text-align: right"&gt;67,793&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; text-align: right"&gt;24,150&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; text-align: right"&gt;16,869&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; text-align: right"&gt;12,863&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; text-align: right"&gt;4,125&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; text-align: right"&gt;13,311&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; text-align: right"&gt;139,111&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; text-align: right"&gt;(15,569&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; text-align: right"&gt;(5,416&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; text-align: right"&gt;118,126&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in"&gt;December 31, 2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;66,316&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;27,776&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;13,658&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;11,454&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;5,939&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;10,391&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;135,534&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(13,488&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(5,071&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;116,975&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Trade receivables are recorded when
the right to consideration becomes unconditional, and an invoice is issued to the customer.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Billing terms and conditions generally
vary by contract type. Amounts are billed as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals
(e.g., monthly or quarterly) or upon achievement of contractual milestones.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Unbilled receivables relate to revenue
recognized in excess of amounts invoiced as the Company has an unconditional right to invoice and receive payment in the future related
to its fulfilled obligations.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Contract assets relate to unbilled
receivables, which represent revenue recognized on arrangements for which billings have not yet been presented to customers because the
amounts were earned but not contractually billable as of the balance sheet date, and the right to consideration is generally subject to
milestone completion, client acceptance or factors other than the passage of time.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Deferred revenues represent contract
liabilities, and include unearned amounts received under contracts with customers and not yet recognized as revenues.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;During the year ended December 31,
2022, the Company recognized $10,771 that was included in deferred revenues (short-term contract liability) balance at January 1, 2022.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font-size: 10pt"&gt;*)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;Included in Other long-term receivables in the consolidated
statements of financial position&lt;span style="font-size: 10pt"&gt;.&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td style="width: 0.5in"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.25in"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: justify; font-size: 10pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Revenue by timing of revenue recognition was as follows:&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Year ended&lt;br/&gt; December 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: justify"&gt;Products and services transferred over time&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;449,391&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;533,862&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Products transferred at a point in time&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;30,934&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;32,930&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;480,325&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;566,792&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfRevenueExplanatory>
    <mgic:AggregateAmount contextRef="c0" decimals="-5" unitRef="usd">65700000</mgic:AggregateAmount>
    <mgic:PercentageOfPerformanceObligations contextRef="c0" decimals="2" unitRef="pure">0.58</mgic:PercentageOfPerformanceObligations>
    <mgic:ScheduleOfDeferredRevenuesFromContractsWithCustomersTableTextBlock contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;January, 1&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Trade receivables (net of allowance for credit losses of $3,967, $5,071&#160;and $5,416&#160;at January 1, 2021, December 31, 2021 and 2022, respectively)&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;91,986&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;116,975&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;118,126&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Unbilled receivables&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;14,842&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;19,614&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;26,114&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Contract assets&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,231&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,482&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,240&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Long-term unbilled receivables *)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-96"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-97"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,548&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Long-term trade receivables *)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,410&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,318&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;735&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Deferred revenues (short-term contract liabilities)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;8,793&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;10,771&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;9,808&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font-size: 10pt"&gt;*)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;Included in Other long-term receivables in the consolidated
statements of financial position&lt;span style="font-size: 10pt"&gt;.&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;</mgic:ScheduleOfDeferredRevenuesFromContractsWithCustomersTableTextBlock>
    <mgic:AllowanceAccountForCreditLosses contextRef="c3" decimals="-3" unitRef="usd">3967000</mgic:AllowanceAccountForCreditLosses>
    <mgic:AllowanceAccountForCreditLosses contextRef="c4" decimals="-3" unitRef="usd">5071000</mgic:AllowanceAccountForCreditLosses>
    <mgic:AllowanceAccountForCreditLosses contextRef="c2" decimals="-3" unitRef="usd">5416000</mgic:AllowanceAccountForCreditLosses>
    <ifrs-full:DeferredTaxLiabilityAsset contextRef="c3" decimals="-3" unitRef="usd">91986000</ifrs-full:DeferredTaxLiabilityAsset>
    <ifrs-full:DeferredTaxLiabilityAsset contextRef="c4" decimals="-3" unitRef="usd">116975000</ifrs-full:DeferredTaxLiabilityAsset>
    <ifrs-full:DeferredTaxLiabilityAsset contextRef="c2" decimals="-3" unitRef="usd">118126000</ifrs-full:DeferredTaxLiabilityAsset>
    <mgic:UnbilledReceivables contextRef="c3" decimals="-3" unitRef="usd">14842000</mgic:UnbilledReceivables>
    <mgic:UnbilledReceivables contextRef="c4" decimals="-3" unitRef="usd">19614000</mgic:UnbilledReceivables>
    <mgic:UnbilledReceivables contextRef="c2" decimals="-3" unitRef="usd">26114000</mgic:UnbilledReceivables>
    <ifrs-full:ContractAssets contextRef="c3" decimals="-3" unitRef="usd">4231000</ifrs-full:ContractAssets>
    <ifrs-full:ContractAssets contextRef="c4" decimals="-3" unitRef="usd">5482000</ifrs-full:ContractAssets>
    <ifrs-full:ContractAssets contextRef="c2" decimals="-3" unitRef="usd">4240000</ifrs-full:ContractAssets>
    <ifrs-full:OtherNoncurrentReceivables contextRef="c2" decimals="-3" id="ix_11_fact" unitRef="usd">2548000</ifrs-full:OtherNoncurrentReceivables>
    <ifrs-full:NoncurrentTradeReceivables contextRef="c3" decimals="-3" id="ix_12_fact" unitRef="usd">1410000</ifrs-full:NoncurrentTradeReceivables>
    <ifrs-full:NoncurrentTradeReceivables contextRef="c4" decimals="-3" id="ix_13_fact" unitRef="usd">1318000</ifrs-full:NoncurrentTradeReceivables>
    <ifrs-full:NoncurrentTradeReceivables contextRef="c2" decimals="-3" id="ix_14_fact" unitRef="usd">735000</ifrs-full:NoncurrentTradeReceivables>
    <ifrs-full:OtherNonfinancialLiabilities contextRef="c3" decimals="-3" unitRef="usd">8793000</ifrs-full:OtherNonfinancialLiabilities>
    <ifrs-full:OtherNonfinancialLiabilities contextRef="c4" decimals="-3" unitRef="usd">10771000</ifrs-full:OtherNonfinancialLiabilities>
    <ifrs-full:OtherNonfinancialLiabilities contextRef="c2" decimals="-3" unitRef="usd">9808000</ifrs-full:OtherNonfinancialLiabilities>
    <ifrs-full:DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="38" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Past due trade receivables with aging of&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;&lt;b&gt;Neither&lt;br/&gt; past&lt;br/&gt; due&#160;nor &lt;br/&gt; &lt;span style="text-decoration:underline;text-decoration: none"&gt;impaired&lt;/span&gt;&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Up&#160;to&#160;30 days&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;31-60 days&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;61-90 days&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;91-120 days&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Over&#160;121 days&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Unpaid&lt;br/&gt; deferred&lt;br/&gt; revenues&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Allowance&lt;br/&gt; for credit&lt;br/&gt; losses&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Total trade&lt;br/&gt; receivables,&lt;br/&gt; net&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 10%; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in"&gt;December 31, 2022&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; text-align: right"&gt;67,793&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; text-align: right"&gt;24,150&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; text-align: right"&gt;16,869&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; text-align: right"&gt;12,863&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; text-align: right"&gt;4,125&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; text-align: right"&gt;13,311&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; text-align: right"&gt;139,111&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; text-align: right"&gt;(15,569&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; text-align: right"&gt;(5,416&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 6%; border-bottom: Black 4pt double; text-align: right"&gt;118,126&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in"&gt;December 31, 2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;66,316&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;27,776&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;13,658&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;11,454&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;5,939&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;10,391&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;135,534&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(13,488&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(5,071&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;116,975&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;</ifrs-full:DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersExplanatory>
    <mgic:TotalTradeReceivablesNet contextRef="c291" decimals="-3" unitRef="usd">67793000</mgic:TotalTradeReceivablesNet>
    <mgic:TotalTradeReceivablesNet contextRef="c292" decimals="-3" unitRef="usd">24150000</mgic:TotalTradeReceivablesNet>
    <mgic:TotalTradeReceivablesNet contextRef="c293" decimals="-3" unitRef="usd">16869000</mgic:TotalTradeReceivablesNet>
    <mgic:TotalTradeReceivablesNet contextRef="c294" decimals="-3" unitRef="usd">12863000</mgic:TotalTradeReceivablesNet>
    <mgic:TotalTradeReceivablesNet contextRef="c295" decimals="-3" unitRef="usd">4125000</mgic:TotalTradeReceivablesNet>
    <mgic:TotalTradeReceivablesNet contextRef="c296" decimals="-3" unitRef="usd">13311000</mgic:TotalTradeReceivablesNet>
    <mgic:TotalTradeReceivablesNet contextRef="c297" decimals="-3" unitRef="usd">139111000</mgic:TotalTradeReceivablesNet>
    <mgic:TotalTradeReceivablesNet contextRef="c298" decimals="-3" unitRef="usd">-15569000</mgic:TotalTradeReceivablesNet>
    <mgic:TotalTradeReceivablesNet contextRef="c299" decimals="-3" unitRef="usd">-5416000</mgic:TotalTradeReceivablesNet>
    <mgic:TotalTradeReceivablesNet contextRef="c0" decimals="-3" unitRef="usd">118126000</mgic:TotalTradeReceivablesNet>
    <mgic:TotalTradeReceivablesNet contextRef="c300" decimals="-3" unitRef="usd">66316000</mgic:TotalTradeReceivablesNet>
    <mgic:TotalTradeReceivablesNet contextRef="c301" decimals="-3" unitRef="usd">27776000</mgic:TotalTradeReceivablesNet>
    <mgic:TotalTradeReceivablesNet contextRef="c302" decimals="-3" unitRef="usd">13658000</mgic:TotalTradeReceivablesNet>
    <mgic:TotalTradeReceivablesNet contextRef="c303" decimals="-3" unitRef="usd">11454000</mgic:TotalTradeReceivablesNet>
    <mgic:TotalTradeReceivablesNet contextRef="c304" decimals="-3" unitRef="usd">5939000</mgic:TotalTradeReceivablesNet>
    <mgic:TotalTradeReceivablesNet contextRef="c305" decimals="-3" unitRef="usd">10391000</mgic:TotalTradeReceivablesNet>
    <mgic:TotalTradeReceivablesNet contextRef="c306" decimals="-3" unitRef="usd">135534000</mgic:TotalTradeReceivablesNet>
    <mgic:TotalTradeReceivablesNet contextRef="c307" decimals="-3" unitRef="usd">-13488000</mgic:TotalTradeReceivablesNet>
    <mgic:TotalTradeReceivablesNet contextRef="c308" decimals="-3" unitRef="usd">-5071000</mgic:TotalTradeReceivablesNet>
    <mgic:TotalTradeReceivablesNet contextRef="c5" decimals="-3" unitRef="usd">116975000</mgic:TotalTradeReceivablesNet>
    <mgic:DeferredRevenueOther contextRef="c0" decimals="0" unitRef="usd">10771</mgic:DeferredRevenueOther>
    <ifrs-full:AnalysisOfAgeOfFinancialAssetsThatArePastDueButNotImpaired contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Year ended&lt;br/&gt; December 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: justify"&gt;Products and services transferred over time&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;449,391&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;533,862&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Products transferred at a point in time&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;30,934&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;32,930&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;480,325&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;566,792&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:AnalysisOfAgeOfFinancialAssetsThatArePastDueButNotImpaired>
    <mgic:ProductsAndServicesTransferredOverTime contextRef="c5" decimals="-3" unitRef="usd">449391000</mgic:ProductsAndServicesTransferredOverTime>
    <mgic:ProductsAndServicesTransferredOverTime contextRef="c0" decimals="-3" unitRef="usd">533862000</mgic:ProductsAndServicesTransferredOverTime>
    <mgic:ProductsTransferredAtAPointInTime contextRef="c5" decimals="-3" unitRef="usd">30934000</mgic:ProductsTransferredAtAPointInTime>
    <mgic:ProductsTransferredAtAPointInTime contextRef="c0" decimals="-3" unitRef="usd">32930000</mgic:ProductsTransferredAtAPointInTime>
    <ifrs-full:RevenueFromContractsWithCustomers contextRef="c5" decimals="-3" unitRef="usd">480325000</ifrs-full:RevenueFromContractsWithCustomers>
    <ifrs-full:RevenueFromContractsWithCustomers contextRef="c0" decimals="-3" unitRef="usd">566792000</ifrs-full:RevenueFromContractsWithCustomers>
    <ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"/&gt;&lt;td style="width: 0.75in; text-align: left"&gt;&lt;span style="font-size: 10pt"&gt;&lt;b&gt;NOTE 21:-&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;&lt;b&gt;SELECTED STATEMENTS OF INCOME
DATA&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td style="width: 72px; text-align: justify"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 24px; text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;a.&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;Research and development costs, net:&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Year ended&lt;br/&gt; December&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Total costs&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;12,188&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;13,149&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Less - capitalized software costs&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(3,193&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(3,059&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Research and development, net&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;8,995&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;10,090&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 72px"/&gt;&lt;td style="width: 24px; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;b.&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;Selling
and marketing expenses:&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Year ended&lt;br/&gt; December&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Salary and related expenses&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;26,100&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;33,474&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Advertising expenses&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,522&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,676&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Cost of share-based payment&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;956&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(56&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Others&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;8,569&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;10,763&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Total selling and marketing expenses&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;38,147&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;46,857&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 72px"/&gt;&lt;td style="width: 24px; text-align: left"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;c.&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;General
and administrative expenses:&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Year ended&lt;br/&gt; December&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Salary and related expenses&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;24,072&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;21,492&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Subcontractors&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,842&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,335&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Cost of share-based payment&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-98"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,135&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Others&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3,308&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;8,590&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Total general and administrative expenses&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;31,222&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;37,552&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td style="width: 72px"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 24px; font-size: 10pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;d.&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: justify; font-size: 10pt"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The following table provides detailed breakdown of the Company&#x2019;s financial income and expenses:&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.85pt; text-align: center"&gt;&lt;b&gt;Year
ended&lt;br/&gt;
December 31,&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold"&gt;Financial expenses:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Financial expenses related to liabilities in respect of business combinations&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;2,817&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;744&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Interest expenses on loans and borrowings&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;615&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,743&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Interest expenses attributed to leases&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;719&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;691&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Bank charges, negative foreign exchange differences and other financial expenses&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,468&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,559&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;6,619&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;5,737&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Financial income:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Interest income from deposits, positive foreign exchange differences and other financial income&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;113&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,392&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;113&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,392&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Financial expenses, net&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;6,506&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;4,345&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;e.&lt;/td&gt;&lt;td style="text-align: justify"&gt;Earnings per share:&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-transform: uppercase; text-indent: -56.7pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"&gt;The following table
presents the computation of basic and diluted net earnings per share for the Company:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: 0in"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.85pt; text-align: center"&gt;&lt;b&gt;Year
ended &lt;br/&gt;
December 31,&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="text-decoration:underline"&gt;Numerator:&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left; padding-bottom: 4pt"&gt;Net income attributable to Magic shareholders&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;29,767&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;40,470&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-decoration: underline; padding-left: 1.1pt"&gt;Denominator:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td&gt;Basic earnings per share - weighted average shares outstanding&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;49,055,082&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;49,089,044&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Effect of dilutive securities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;44,972&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;42,267&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt"&gt;Diluted earnings per share &#x2013; adjusted weighted average shares outstanding&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;49,100,054&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;49,131,311&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Basic and diluted net earnings per share&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.61&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.82&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory>
    <mgic:ResearchAndDevelopmentCostsNetTableTextBlock contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Year ended&lt;br/&gt; December&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Total costs&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;12,188&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;13,149&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Less - capitalized software costs&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(3,193&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(3,059&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Research and development, net&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;8,995&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;10,090&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;</mgic:ResearchAndDevelopmentCostsNetTableTextBlock>
    <mgic:TotalResearchandDevelopment contextRef="c5" decimals="-3" unitRef="usd">12188000</mgic:TotalResearchandDevelopment>
    <mgic:TotalResearchandDevelopment contextRef="c0" decimals="-3" unitRef="usd">13149000</mgic:TotalResearchandDevelopment>
    <mgic:CapitalizedSoftwareCosts contextRef="c5" decimals="-3" unitRef="usd">3193000</mgic:CapitalizedSoftwareCosts>
    <mgic:CapitalizedSoftwareCosts contextRef="c0" decimals="-3" unitRef="usd">3059000</mgic:CapitalizedSoftwareCosts>
    <ifrs-full:ResearchAndDevelopmentExpense contextRef="c5" decimals="-3" unitRef="usd">8995000</ifrs-full:ResearchAndDevelopmentExpense>
    <ifrs-full:ResearchAndDevelopmentExpense contextRef="c0" decimals="-3" unitRef="usd">10090000</ifrs-full:ResearchAndDevelopmentExpense>
    <mgic:ScheduleOfSellingAndMarketingExpensesTableTextBlock contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Year ended&lt;br/&gt; December&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Salary and related expenses&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;26,100&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;33,474&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Advertising expenses&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,522&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,676&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Cost of share-based payment&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;956&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(56&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Others&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;8,569&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;10,763&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Total selling and marketing expenses&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;38,147&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;46,857&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&#160;&lt;/p&gt;</mgic:ScheduleOfSellingAndMarketingExpensesTableTextBlock>
    <ifrs-full:WagesAndSalaries contextRef="c309" decimals="-3" unitRef="usd">26100000</ifrs-full:WagesAndSalaries>
    <ifrs-full:WagesAndSalaries contextRef="c310" decimals="-3" unitRef="usd">33474000</ifrs-full:WagesAndSalaries>
    <ifrs-full:AdvertisingExpense contextRef="c309" decimals="-3" unitRef="usd">2522000</ifrs-full:AdvertisingExpense>
    <ifrs-full:AdvertisingExpense contextRef="c310" decimals="-3" unitRef="usd">2676000</ifrs-full:AdvertisingExpense>
    <ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment contextRef="c309" decimals="-3" unitRef="usd">956000</ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment>
    <ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment contextRef="c310" decimals="-3" unitRef="usd">-56000</ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment>
    <ifrs-full:OtherExpenseByNature contextRef="c309" decimals="-3" unitRef="usd">8569000</ifrs-full:OtherExpenseByNature>
    <ifrs-full:OtherExpenseByNature contextRef="c310" decimals="-3" unitRef="usd">10763000</ifrs-full:OtherExpenseByNature>
    <ifrs-full:SalesAndMarketingExpense contextRef="c309" decimals="-3" unitRef="usd">38147000</ifrs-full:SalesAndMarketingExpense>
    <ifrs-full:SalesAndMarketingExpense contextRef="c310" decimals="-3" unitRef="usd">46857000</ifrs-full:SalesAndMarketingExpense>
    <ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Year ended&lt;br/&gt; December&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Salary and related expenses&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;24,072&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;21,492&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Subcontractors&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,842&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,335&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Cost of share-based payment&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-98"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,135&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Others&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3,308&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;8,590&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Total general and administrative expenses&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;31,222&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;37,552&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&#160;&lt;/p&gt;</ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory>
    <ifrs-full:WagesAndSalaries contextRef="c311" decimals="-3" unitRef="usd">24072000</ifrs-full:WagesAndSalaries>
    <ifrs-full:WagesAndSalaries contextRef="c312" decimals="-3" unitRef="usd">21492000</ifrs-full:WagesAndSalaries>
    <mgic:Subcontractors contextRef="c311" decimals="-3" unitRef="usd">3842000</mgic:Subcontractors>
    <mgic:Subcontractors contextRef="c312" decimals="-3" unitRef="usd">5335000</mgic:Subcontractors>
    <ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment contextRef="c312" decimals="-3" unitRef="usd">2135000</ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment>
    <ifrs-full:OtherExpenseByNature contextRef="c311" decimals="-3" unitRef="usd">3308000</ifrs-full:OtherExpenseByNature>
    <ifrs-full:OtherExpenseByNature contextRef="c312" decimals="-3" unitRef="usd">8590000</ifrs-full:OtherExpenseByNature>
    <ifrs-full:GeneralAndAdministrativeExpense contextRef="c311" decimals="-3" unitRef="usd">31222000</ifrs-full:GeneralAndAdministrativeExpense>
    <ifrs-full:GeneralAndAdministrativeExpense contextRef="c312" decimals="-3" unitRef="usd">37552000</ifrs-full:GeneralAndAdministrativeExpense>
    <ifrs-full:DisclosureOfFinancialLiabilitiesExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.85pt; text-align: center"&gt;&lt;b&gt;Year
ended&lt;br/&gt;
December 31,&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold"&gt;Financial expenses:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Financial expenses related to liabilities in respect of business combinations&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;2,817&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;744&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Interest expenses on loans and borrowings&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;615&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,743&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Interest expenses attributed to leases&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;719&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;691&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Bank charges, negative foreign exchange differences and other financial expenses&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,468&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,559&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;6,619&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;5,737&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Financial income:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Interest income from deposits, positive foreign exchange differences and other financial income&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;113&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,392&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;113&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,392&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Financial expenses, net&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;6,506&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;4,345&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;</ifrs-full:DisclosureOfFinancialLiabilitiesExplanatory>
    <mgic:FinancialExpensesRelatedToLiabilitiesInRespectOfBusinessCombinations contextRef="c5" decimals="-3" unitRef="usd">2817000</mgic:FinancialExpensesRelatedToLiabilitiesInRespectOfBusinessCombinations>
    <mgic:FinancialExpensesRelatedToLiabilitiesInRespectOfBusinessCombinations contextRef="c0" decimals="-3" unitRef="usd">744000</mgic:FinancialExpensesRelatedToLiabilitiesInRespectOfBusinessCombinations>
    <ifrs-full:InterestExpenseOnBorrowings contextRef="c5" decimals="-3" unitRef="usd">615000</ifrs-full:InterestExpenseOnBorrowings>
    <ifrs-full:InterestExpenseOnBorrowings contextRef="c0" decimals="-3" unitRef="usd">1743000</ifrs-full:InterestExpenseOnBorrowings>
    <ifrs-full:InterestExpenseOnLeaseLiabilities contextRef="c5" decimals="-3" unitRef="usd">719000</ifrs-full:InterestExpenseOnLeaseLiabilities>
    <ifrs-full:InterestExpenseOnLeaseLiabilities contextRef="c0" decimals="-3" unitRef="usd">691000</ifrs-full:InterestExpenseOnLeaseLiabilities>
    <ifrs-full:BankAndSimilarCharges contextRef="c5" decimals="-3" unitRef="usd">2468000</ifrs-full:BankAndSimilarCharges>
    <ifrs-full:BankAndSimilarCharges contextRef="c0" decimals="-3" unitRef="usd">2559000</ifrs-full:BankAndSimilarCharges>
    <ifrs-full:FinanceCosts contextRef="c5" decimals="-3" unitRef="usd">6619000</ifrs-full:FinanceCosts>
    <ifrs-full:FinanceCosts contextRef="c0" decimals="-3" unitRef="usd">5737000</ifrs-full:FinanceCosts>
    <ifrs-full:ForeignExchangeLoss contextRef="c5" decimals="-3" unitRef="usd">113000</ifrs-full:ForeignExchangeLoss>
    <ifrs-full:ForeignExchangeLoss contextRef="c0" decimals="-3" unitRef="usd">1392000</ifrs-full:ForeignExchangeLoss>
    <ifrs-full:FinanceIncome contextRef="c5" decimals="-3" unitRef="usd">113000</ifrs-full:FinanceIncome>
    <ifrs-full:FinanceIncome contextRef="c0" decimals="-3" unitRef="usd">1392000</ifrs-full:FinanceIncome>
    <ifrs-full:OtherFinanceIncomeCost contextRef="c5" decimals="-3" unitRef="usd">6506000</ifrs-full:OtherFinanceIncomeCost>
    <ifrs-full:OtherFinanceIncomeCost contextRef="c0" decimals="-3" unitRef="usd">4345000</ifrs-full:OtherFinanceIncomeCost>
    <ifrs-full:DisclosureOfEarningsPerShareExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.85pt; text-align: center"&gt;&lt;b&gt;Year
ended &lt;br/&gt;
December 31,&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;span style="text-decoration:underline"&gt;Numerator:&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: left; padding-bottom: 4pt"&gt;Net income attributable to Magic shareholders&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;29,767&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; text-align: right"&gt;40,470&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-decoration: underline; padding-left: 1.1pt"&gt;Denominator:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td&gt;Basic earnings per share - weighted average shares outstanding&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;49,055,082&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;49,089,044&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Effect of dilutive securities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;44,972&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;42,267&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 4pt"&gt;Diluted earnings per share &#x2013; adjusted weighted average shares outstanding&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;49,100,054&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;49,131,311&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Basic and diluted net earnings per share&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.61&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.82&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ifrs-full:DisclosureOfEarningsPerShareExplanatory>
    <mgic:NetIncomeAttributableToMagicShareholdersinDollarsPerShare contextRef="c5" decimals="-3" unitRef="usd">29767000</mgic:NetIncomeAttributableToMagicShareholdersinDollarsPerShare>
    <mgic:NetIncomeAttributableToMagicShareholdersinDollarsPerShare contextRef="c0" decimals="-3" unitRef="usd">40470000</mgic:NetIncomeAttributableToMagicShareholdersinDollarsPerShare>
    <ifrs-full:WeightedAverageShares contextRef="c5" decimals="INF" unitRef="shares">49055082</ifrs-full:WeightedAverageShares>
    <ifrs-full:WeightedAverageShares contextRef="c0" decimals="INF" unitRef="shares">49089044</ifrs-full:WeightedAverageShares>
    <mgic:EffectOfDilutiveSecurities contextRef="c5" decimals="INF" unitRef="shares">44972</mgic:EffectOfDilutiveSecurities>
    <mgic:EffectOfDilutiveSecurities contextRef="c0" decimals="INF" unitRef="shares">42267</mgic:EffectOfDilutiveSecurities>
    <ifrs-full:AdjustedWeightedAverageShares contextRef="c5" decimals="INF" unitRef="shares">49100054</ifrs-full:AdjustedWeightedAverageShares>
    <ifrs-full:AdjustedWeightedAverageShares contextRef="c0" decimals="INF" unitRef="shares">49131311</ifrs-full:AdjustedWeightedAverageShares>
    <ifrs-full:BasicEarningsLossPerShare contextRef="c5" decimals="2" unitRef="usdPershares">0.61</ifrs-full:BasicEarningsLossPerShare>
    <ifrs-full:BasicEarningsLossPerShare contextRef="c0" decimals="2" unitRef="usdPershares">0.82</ifrs-full:BasicEarningsLossPerShare>
    <ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"/&gt;&lt;td style="width: 0.75in; text-align: left"&gt;&lt;span style="text-transform: uppercase"&gt;Note 22:-&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="text-transform: uppercase"&gt;operating
segments&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-align: justify; text-indent: 0pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font-size: 10pt"&gt;a.&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;The Company reports its results
on the basis of two reportable business segments: software services (which include proprietary and none proprietary software technology)
and IT professional services.&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company evaluates segment performance
based on revenues and operating income of each segment. The accounting policies of the operating segments are the same as those described
in the summary of significant accounting policies.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Headquarters&#x2019; general and administrative
costs have not been allocated between the different segments.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;b&gt;Software services&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company develops markets, sells and
supports a proprietary and none proprietary application platform, software applications, business and process integration solutions and
related services.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;b&gt;IT professional services&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company offers advanced and flexible
IT services in the areas of infrastructure design and delivery, application development, technology planning and implementation services,
communications services and solutions, as well as supplemental outsourcing services.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;There are no significant transactions
between the two segments.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td style="width: 72px; text-align: justify"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 24px; text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;b.&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;The following is information about reported segment results of operation:&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Software &lt;br/&gt; services&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;IT &lt;br/&gt; professional &lt;br/&gt; services&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Unallocated &lt;br/&gt; expense&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: justify"&gt;2022&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 52%; text-align: justify"&gt;Total revenues&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;99,374&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;467,418&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-99"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;566,792&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Expenses&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;72,115&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;427,446&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;5,469&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;505,030&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;Operating income (loss)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;27,259&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;39,972&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(5,469&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;61,762&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;Depreciation and amortization&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;10,321&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;9,102&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;372&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;19,795&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify"&gt;2021&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;Total revenues&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;95,589&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;384,736&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-100"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;480,325&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Expenses&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;74,863&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;347,712&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;5,627&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;428,202&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;Operating income (loss)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;20,726&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;37,024&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(5,627&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;52,123&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;Depreciation and amortization&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;10,619&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;8,846&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;372&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;19,837&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;
&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="text-align: left; width: 0.25in"&gt;&lt;span style="font-size: 10pt"&gt;c.&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;The Company&#x2019;s business
is divided into the following geographic areas: United States, Israel, Europe, Japan and other regions. Total revenues are attributed
to geographic areas based on the location of the customers.&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The following table presents total
revenues classified according to geographical destination for the years ended December 31, 2021 and 2022:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Year ended&lt;br/&gt; December&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;United States&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;254,342&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;308,485&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Israel&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;180,462&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;205,258&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Europe&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;30,085&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;39,247&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Japan&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;11,443&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;10,121&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Other&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3,993&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3,681&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;480,325&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;566,792&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font-size: 10pt"&gt;d.&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;The Company&#x2019;s long-lived
assets are located as follows:&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;January, 1&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;United States&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;74,577&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;76,369&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;82,325&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;Israel&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;129,248&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;138,071&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;148,819&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td&gt;Europe&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,115&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,423&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;7,885&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;Japan&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,428&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,543&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,696&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;Other&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3,069&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,939&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,905&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;218,437&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;227,345&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;246,630&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td style="width: 72px; text-align: justify"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 24px; text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;e.&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;The Company does not allocate its assets or liabilities to its reportable segments; accordingly, asset &#160;or liabilities information by reportable segments is not presented.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 72px; text-align: justify"&gt;&#160;&lt;/td&gt; &lt;td style="width: 24px; text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;f.&lt;/span&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;In 2021 and 2022, the Company had one major customer, included in the IT professional services segment, which accounted for 14% and 15% of the Company revenues, respectively.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;</ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory>
    <mgic:DisclosureOfResultsOfOperationsAndProspectsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Software &lt;br/&gt; services&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;IT &lt;br/&gt; professional &lt;br/&gt; services&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Unallocated &lt;br/&gt; expense&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Total&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: justify"&gt;2022&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 52%; text-align: justify"&gt;Total revenues&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;99,374&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;467,418&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-99"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;566,792&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Expenses&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;72,115&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;427,446&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;5,469&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;505,030&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;Operating income (loss)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;27,259&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;39,972&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(5,469&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;61,762&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;Depreciation and amortization&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;10,321&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;9,102&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;372&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;19,795&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify"&gt;2021&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;Total revenues&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;95,589&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;384,736&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-100"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;480,325&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt"&gt;Expenses&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;74,863&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;347,712&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;5,627&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;428,202&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;Operating income (loss)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;20,726&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;37,024&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(5,627&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;52,123&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt"&gt;Depreciation and amortization&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;10,619&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;8,846&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;372&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;19,837&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;</mgic:DisclosureOfResultsOfOperationsAndProspectsExplanatory>
    <ifrs-full:OtherRevenue contextRef="c315" decimals="-3" unitRef="usd">99374000</ifrs-full:OtherRevenue>
    <ifrs-full:OtherRevenue contextRef="c314" decimals="-3" unitRef="usd">467418000</ifrs-full:OtherRevenue>
    <ifrs-full:OtherRevenue contextRef="c0" decimals="-3" unitRef="usd">566792000</ifrs-full:OtherRevenue>
    <ifrs-full:AmortisationExpense contextRef="c315" decimals="-3" unitRef="usd">72115000</ifrs-full:AmortisationExpense>
    <ifrs-full:AmortisationExpense contextRef="c314" decimals="-3" unitRef="usd">427446000</ifrs-full:AmortisationExpense>
    <ifrs-full:AmortisationExpense contextRef="c316" decimals="-3" unitRef="usd">5469000</ifrs-full:AmortisationExpense>
    <ifrs-full:AmortisationExpense contextRef="c0" decimals="-3" unitRef="usd">505030000</ifrs-full:AmortisationExpense>
    <ifrs-full:OtherOperatingIncomeExpense contextRef="c315" decimals="-3" unitRef="usd">27259000</ifrs-full:OtherOperatingIncomeExpense>
    <ifrs-full:OtherOperatingIncomeExpense contextRef="c314" decimals="-3" unitRef="usd">39972000</ifrs-full:OtherOperatingIncomeExpense>
    <ifrs-full:OtherOperatingIncomeExpense contextRef="c316" decimals="-3" unitRef="usd">-5469000</ifrs-full:OtherOperatingIncomeExpense>
    <ifrs-full:OtherOperatingIncomeExpense contextRef="c0" decimals="-3" unitRef="usd">61762000</ifrs-full:OtherOperatingIncomeExpense>
    <ifrs-full:DepreciationAndAmortisationExpense contextRef="c315" decimals="-3" unitRef="usd">10321000</ifrs-full:DepreciationAndAmortisationExpense>
    <ifrs-full:DepreciationAndAmortisationExpense contextRef="c314" decimals="-3" unitRef="usd">9102000</ifrs-full:DepreciationAndAmortisationExpense>
    <ifrs-full:DepreciationAndAmortisationExpense contextRef="c316" decimals="-3" unitRef="usd">372000</ifrs-full:DepreciationAndAmortisationExpense>
    <ifrs-full:DepreciationAndAmortisationExpense contextRef="c0" decimals="-3" unitRef="usd">19795000</ifrs-full:DepreciationAndAmortisationExpense>
    <ifrs-full:OtherRevenue contextRef="c317" decimals="-3" unitRef="usd">95589000</ifrs-full:OtherRevenue>
    <ifrs-full:OtherRevenue contextRef="c313" decimals="-3" unitRef="usd">384736000</ifrs-full:OtherRevenue>
    <ifrs-full:OtherRevenue contextRef="c5" decimals="-3" unitRef="usd">480325000</ifrs-full:OtherRevenue>
    <ifrs-full:AmortisationExpense contextRef="c317" decimals="-3" unitRef="usd">74863000</ifrs-full:AmortisationExpense>
    <ifrs-full:AmortisationExpense contextRef="c313" decimals="-3" unitRef="usd">347712000</ifrs-full:AmortisationExpense>
    <ifrs-full:AmortisationExpense contextRef="c318" decimals="-3" unitRef="usd">5627000</ifrs-full:AmortisationExpense>
    <ifrs-full:AmortisationExpense contextRef="c5" decimals="-3" unitRef="usd">428202000</ifrs-full:AmortisationExpense>
    <ifrs-full:OtherOperatingIncomeExpense contextRef="c317" decimals="-3" unitRef="usd">20726000</ifrs-full:OtherOperatingIncomeExpense>
    <ifrs-full:OtherOperatingIncomeExpense contextRef="c313" decimals="-3" unitRef="usd">37024000</ifrs-full:OtherOperatingIncomeExpense>
    <ifrs-full:OtherOperatingIncomeExpense contextRef="c318" decimals="-3" unitRef="usd">-5627000</ifrs-full:OtherOperatingIncomeExpense>
    <ifrs-full:OtherOperatingIncomeExpense contextRef="c5" decimals="-3" unitRef="usd">52123000</ifrs-full:OtherOperatingIncomeExpense>
    <ifrs-full:DepreciationAndAmortisationExpense contextRef="c317" decimals="-3" unitRef="usd">10619000</ifrs-full:DepreciationAndAmortisationExpense>
    <ifrs-full:DepreciationAndAmortisationExpense contextRef="c313" decimals="-3" unitRef="usd">8846000</ifrs-full:DepreciationAndAmortisationExpense>
    <ifrs-full:DepreciationAndAmortisationExpense contextRef="c318" decimals="-3" unitRef="usd">372000</ifrs-full:DepreciationAndAmortisationExpense>
    <ifrs-full:DepreciationAndAmortisationExpense contextRef="c5" decimals="-3" unitRef="usd">19837000</ifrs-full:DepreciationAndAmortisationExpense>
    <mgic:ScheduleOfRevenuesClassifiedToGeographicalDestinationExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Year ended&lt;br/&gt; December&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 76%; text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;United States&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;254,342&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;308,485&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Israel&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;180,462&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;205,258&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Europe&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;30,085&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;39,247&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -9pt; padding-left: 9pt"&gt;Japan&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;11,443&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;10,121&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Other&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3,993&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3,681&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;480,325&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;566,792&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;</mgic:ScheduleOfRevenuesClassifiedToGeographicalDestinationExplanatory>
    <mgic:TotalRevenues contextRef="c319" decimals="-3" unitRef="usd">254342000</mgic:TotalRevenues>
    <mgic:TotalRevenues contextRef="c320" decimals="-3" unitRef="usd">308485000</mgic:TotalRevenues>
    <mgic:TotalRevenues contextRef="c321" decimals="-3" unitRef="usd">180462000</mgic:TotalRevenues>
    <mgic:TotalRevenues contextRef="c322" decimals="-3" unitRef="usd">205258000</mgic:TotalRevenues>
    <mgic:TotalRevenues contextRef="c323" decimals="-3" unitRef="usd">30085000</mgic:TotalRevenues>
    <mgic:TotalRevenues contextRef="c324" decimals="-3" unitRef="usd">39247000</mgic:TotalRevenues>
    <mgic:TotalRevenues contextRef="c325" decimals="-3" unitRef="usd">11443000</mgic:TotalRevenues>
    <mgic:TotalRevenues contextRef="c326" decimals="-3" unitRef="usd">10121000</mgic:TotalRevenues>
    <mgic:TotalRevenues contextRef="c327" decimals="-3" unitRef="usd">3993000</mgic:TotalRevenues>
    <mgic:TotalRevenues contextRef="c328" decimals="-3" unitRef="usd">3681000</mgic:TotalRevenues>
    <mgic:TotalRevenues contextRef="c5" decimals="-3" unitRef="usd">480325000</mgic:TotalRevenues>
    <mgic:TotalRevenues contextRef="c0" decimals="-3" unitRef="usd">566792000</mgic:TotalRevenues>
    <mgic:ScheduleOfLonglivedAssetsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;January, 1&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;United States&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;74,577&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;76,369&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;82,325&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;Israel&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;129,248&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;138,071&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;148,819&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td&gt;Europe&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,115&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,423&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;7,885&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;Japan&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,428&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,543&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,696&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;Other&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3,069&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,939&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,905&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;218,437&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;227,345&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;246,630&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;</mgic:ScheduleOfLonglivedAssetsExplanatory>
    <mgic:LonglivedAssets contextRef="c329" decimals="-3" unitRef="usd">74577000</mgic:LonglivedAssets>
    <mgic:LonglivedAssets contextRef="c330" decimals="-3" unitRef="usd">76369000</mgic:LonglivedAssets>
    <mgic:LonglivedAssets contextRef="c331" decimals="-3" unitRef="usd">82325000</mgic:LonglivedAssets>
    <mgic:LonglivedAssets contextRef="c332" decimals="-3" unitRef="usd">129248000</mgic:LonglivedAssets>
    <mgic:LonglivedAssets contextRef="c333" decimals="-3" unitRef="usd">138071000</mgic:LonglivedAssets>
    <mgic:LonglivedAssets contextRef="c334" decimals="-3" unitRef="usd">148819000</mgic:LonglivedAssets>
    <mgic:LonglivedAssets contextRef="c335" decimals="-3" unitRef="usd">5115000</mgic:LonglivedAssets>
    <mgic:LonglivedAssets contextRef="c336" decimals="-3" unitRef="usd">4423000</mgic:LonglivedAssets>
    <mgic:LonglivedAssets contextRef="c337" decimals="-3" unitRef="usd">7885000</mgic:LonglivedAssets>
    <mgic:LonglivedAssets contextRef="c338" decimals="-3" unitRef="usd">6428000</mgic:LonglivedAssets>
    <mgic:LonglivedAssets contextRef="c339" decimals="-3" unitRef="usd">5543000</mgic:LonglivedAssets>
    <mgic:LonglivedAssets contextRef="c340" decimals="-3" unitRef="usd">4696000</mgic:LonglivedAssets>
    <mgic:LonglivedAssets contextRef="c341" decimals="-3" unitRef="usd">3069000</mgic:LonglivedAssets>
    <mgic:LonglivedAssets contextRef="c342" decimals="-3" unitRef="usd">2939000</mgic:LonglivedAssets>
    <mgic:LonglivedAssets contextRef="c343" decimals="-3" unitRef="usd">2905000</mgic:LonglivedAssets>
    <mgic:LonglivedAssets contextRef="c3" decimals="-3" unitRef="usd">218437000</mgic:LonglivedAssets>
    <mgic:LonglivedAssets contextRef="c4" decimals="-3" unitRef="usd">227345000</mgic:LonglivedAssets>
    <mgic:LonglivedAssets contextRef="c2" decimals="-3" unitRef="usd">246630000</mgic:LonglivedAssets>
    <mgic:CompanyRevenues contextRef="c313" decimals="2" unitRef="pure">0.14</mgic:CompanyRevenues>
    <mgic:CompanyRevenues contextRef="c314" decimals="2" unitRef="pure">0.15</mgic:CompanyRevenues>
    <mgic:DisclosureOfTransitionToIFRSTextBlock contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0in"/&gt;&lt;td style="width: 0.75in; text-align: left"&gt;&lt;span style="font-size: 10pt"&gt;&lt;b&gt;NOTE 23:-&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt; text-transform: uppercase"&gt;&lt;b&gt;Transition
to&lt;/b&gt;&lt;/span&gt;&lt;b&gt; &lt;span style="font-size: 10pt"&gt;IFRS&lt;/span&gt;&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-indent: -56.7pt"&gt;&lt;span style="text-transform: uppercase"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;These financial statements for the year
ended December 31, 2022 are The Company&#x2019;s first consolidated financial statements prepared in accordance with IFRS. The date of
transition to IFRS is January 1, 2021. For periods up to and including the year ended December 31, 2021, The Company prepared its consolidated
financial statements in accordance with U.S. GAAP.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Accordingly, The Company has prepared
financial statements that comply with IFRS applicable as of December 31, 2022, together with the comparative period data for the year
ended December 31, 2021, as described in the summary of significant accounting policies (Note 2). In preparing the financial statements,
The Company&#x2019;s opening consolidated statement of financial position was prepared as of January 1, 2021, The Company&#x2019;s date
of transition to IFRS. This note explains the principal adjustments made by The Company in representing its U.S. GAAP financial statements,
including the statement of financial position as of January 1 and December 31, 2021 and the financial statements for the year ended December
31, 2021, in order to comply with IFRS.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.05pt; text-indent: -56.7pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;As a first-time adopter of IFRS, The
Company applied IFRS 1 First-time Adoption of International Financial Reporting Standards. The Standard contains a number of voluntary
and mandatory exemptions from the requirement to retrospectively apply IFRS, which The Company has applied as of January 1, 2021.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;The Company has applied the mandatory
exceptions and certain optional exemptions as set out below:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Business combinations &#x2014;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 85.05pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font-size: 10pt"&gt;a)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;With respect to the business
combination of all subsidiaries acquired during the years ended December 31 2020 and 2021, which were consolidated as subsidiaries under
the U.S. GAAP in the Company&#x2019;s consolidated statements of financial position before the date of the transition to IFRS, the Company
elected not to apply IFRS 3 Business Combinations retrospectively. As a result, assets recognized, and liabilities assumed in past business
combinations under U.S. GAAP have remained unchanged at the date of transition.&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 85.05pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Reconciliation of statements of financial
position as of January 1, 2021 (date of transition to IFRS) and December 31, 2021:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;As of January 1, 2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;U.S. GAAP&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Other GAAP&lt;br/&gt; Adjustments&lt;br/&gt; and&lt;br/&gt; reclassifications&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;IFRS&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold"&gt;ASSETS&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold"&gt;CURRENT ASSETS:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left; padding-left: 9pt"&gt;Cash and cash equivalents&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;88,127&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-101"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;88,127&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Short-term deposits&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;289&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-102"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;289&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Trade receivables, net&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;91,986&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-103"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;91,986&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Unbilled receivables and contract assets&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;19,073&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-104"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;19,073&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt"&gt;Other accounts receivable and prepaid expenses&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;11,751&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-105"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;11,751&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt"&gt;Total&#160;&#160;current assets&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;211,226&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-106"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;211,226&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;LONG-TERM ASSETS:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 9pt"&gt;Severance pay fund&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,673&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(4,673&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Deferred taxes&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,397&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(162&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,235&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Right-of-use assets&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;24,509&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,146&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;23,363&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Other accounts receivable&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,507&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-107"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,507&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Property, plants and equipment, net&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,988&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-108"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,988&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Intangible assets, net&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;53,404&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-109"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;53,404&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 1.5pt; padding-left: 9pt"&gt;Goodwill&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;135,682&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-110"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;135,682&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt"&gt;Total&#160;long-term assets&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;236,160&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(5,981&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;230,179&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 4pt"&gt;Total&#160;assets&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;447,386&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(5,981&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;441,405&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;LIABILITIES AND EQUITY&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;CURRENT LIABILITIES:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Short term debt&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;11,529&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;69&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;11,598&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Trade payables&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;14,250&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-111"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;14,250&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Accrued expenses and other accounts payable&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;41,846&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(69&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;41,777&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Current maturities of operating lease liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,413&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;379&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,792&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Liabilities in respect of business combinations&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,998&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-112"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,998&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Redeemable non-controlling interests&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-113"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;14,611&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;14,611&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt"&gt;Deferred revenue and customer advances&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;8,793&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-114"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;8,793&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt"&gt;Total&#160;current liabilities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;84,829&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;14,990&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;99,819&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;LONG-TERM&#160;&#160;LIABILITIES:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Long-term debt&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;13,352&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-115"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;13,352&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Long-term operating lease liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;21,109&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;121&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;21,230&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Liability in respect of business combinations&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;10,926&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-116"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;10,926&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Deferred taxes&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;17,639&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(155&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;17,484&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Redeemable non-controlling interests&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-117"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;9,315&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;9,315&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt"&gt;Accrued severance pay, net&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;5,545&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(4,673&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;872&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt"&gt;Total&#160;long-term liabilities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;68,571&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(4,608&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;73,179&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt"&gt;REDEEMABLE NON-CONTROLLING INTEREST&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;24,980&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(24,980&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-118"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold"&gt;EQUITY&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 9pt"&gt;Share capital&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,164&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-119"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,164&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Additional paid-in capital&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;211,713&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(23,298&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;188,415&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Accumulated other comprehensive loss&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;7,835&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(398&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;7,437&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt"&gt;Accumulated earnings&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;39,720&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;22,953&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;62,673&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Total&#160;equity attributable to company shareholders&#x2019;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;260,432&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(743&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;259,689&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt"&gt;Non-controlling interests&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;8,574&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;143&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;8,718&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt"&gt;Total&#160;equity&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;269,006&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(600&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;268,407&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Total&#160;liabilities, redeemable non-controlling interest and equity&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;447,386&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(5,981&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;441,405&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;As of December 31, 2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;U.S. GAAP&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Other GAAP&lt;br/&gt;
Adjustments&lt;br/&gt;
and&lt;br/&gt;
reclassifications&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;IFRS&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: justify"&gt;ASSETS&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: justify"&gt;CURRENT ASSETS:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Cash and cash equivalents&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;88,090&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;-&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;88,090&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Short-term deposits&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,586&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-120"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,586&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Trade receivables, net&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;116,975&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-121"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;116,975&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Unbilled receivables and contract assets&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;25,096&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-122"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;25,096&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 16.2pt"&gt;Other accounts receivable and prepaid expenses&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;11,032&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(5&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;11,027&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Total&#160;&#160;current assets&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;246,779&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(5&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;246,774&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;LONG-TERM ASSETS:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Severance pay fund&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,646&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(3,646&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-123"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Deferred taxes&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,091&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(98&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;7,993&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt; Right-of-use assets&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;24,299&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,019&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;23,280&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Other accounts receivable&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,165&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-124"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,165&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Property, plants and equipment, net&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,872&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-125"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,872&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Intangible assets, net&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;51,390&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-126"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;51,390&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 16.2pt"&gt;Goodwill&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;146,803&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-127"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;146,803&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify; padding-bottom: 4pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Total&#160;long-term assets&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;245,266&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(4,763&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;240,503&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify; padding-bottom: 4pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Total&#160;assets&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;492,045&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(4,768&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;487,277&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;LIABILITIES AND EQUITY&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify; text-indent: -0.1in; padding-left: 0.25in"&gt;CURRENT LIABILITIES:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.25in"&gt;Short term debt&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;17,032&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;76&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;17,108&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Trade payables&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;24,711&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-128"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;24,711&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Accrued expenses and other accounts payable&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;45,173&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(82&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;45,091&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Current maturities of operating lease liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,943&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(676&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,267&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Liabilities in respect of business combinations&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,635&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-129"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,635&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Redeemable non-controlling interests&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-130"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;23,197&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;23,197&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 16.2pt"&gt;Deferred revenue and customer advances&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;10,771&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-131"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;10,771&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Total&#160;current liabilities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;108,265&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;22,515&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;130,780&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;LONG-TERM&#160;&#160;LIABILITIES:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Long-term debt&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;20,155&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-132"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;20,155&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Long-term operating lease liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;20,970&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;937&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;21,907&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Liability in respect of business combinations&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;13,892&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-133"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;13,892&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Deferred taxes&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;18,112&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(167&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;17,945&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Redeemable non-controlling interests&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-134"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,137&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,137&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 16.2pt"&gt;Accrued severance pay, net&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;4,551&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(3,646&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;905&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Total&#160;long-term liabilities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;77,680&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3,261&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;80,941&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"&gt;REDEEMABLE NON-CONTROLLING INTEREST&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;30,432&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(30,432&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;-&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;EQUITY&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Share capital&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,165&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-135"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,165&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Additional paid-in capital&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;211,543&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(27,496&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;184,047&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Accumulated other comprehensive loss&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;9,294&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(30&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;9,264&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 16.2pt"&gt;Accumulated earnings&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;43,246&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;27,414&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;70,660&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Total&#160;equity attributable to company shareholders&#x2019;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;265,248&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(112&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;265,136&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Non-controlling interests&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;10,420&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-136"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;10,420&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Total&#160;equity&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;275,668&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(112&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;275,556&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: justify; padding-bottom: 4pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Total&#160;liabilities, redeemable non-controlling interest and equity&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;492,045&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(4,768&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;487,277&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-indent: -56.7pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Reconciliation of the consolidated statement
of profit or loss for the year ended December 31, 2021:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-indent: -56.7pt"&gt;&lt;span style="text-transform: uppercase"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Year ended December 31, 2021&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;U.S. GAAP&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;GAAP&lt;br/&gt;
Adjustments&lt;br/&gt;
and&lt;br/&gt;
reclassifications&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;IFRS&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Revenues&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Software services&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;30,934&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-137"&gt;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;30,934&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Maintenance and technical support&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;36,149&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-138"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;36,149&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Consulting services&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;413,242&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-139"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;413,242&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Total revenues&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;480,325&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-140"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;480,325&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Cost of revenues:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Software services&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;12,182&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-141"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;12,182&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Maintenance and technical support&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,144&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-142"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,144&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Consulting services&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;331,005&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-143"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;331,005&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Total cost of revenues&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;347,331&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-144"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;347,331&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Gross profit&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;132,994&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-145"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;132,994&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Research and development expenses, net&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,995&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-146"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,995&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Selling, marketing expenses&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;38,147&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-147"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;38,147&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;General and administrative expenses&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;32,110&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(888&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;31,222&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Change in valuation of contingent consideration related to acquisitions&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,507&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-148"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,507&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Operating income&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;51,235&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;888&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;52,123&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Financial expenses&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(3,268&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(534&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(3,802&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Financial income&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;113&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-149"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;113&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Increase in valuation of consideration related to acquisitions&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2,817&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-150"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2,817&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Income before taxes on income&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;45,263&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;354&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;45,617&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Taxes on income&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;10,359&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(81&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;10,278&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Net income&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;34,904&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;435&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;35,339&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Attributable to:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Redeemable non-controlling interests&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,517&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(3,517&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Non-controlling interests&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,055&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,517&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,572&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Equity holders of the Company&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;29,332&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;435&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;29,767&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Net earnings per share attributable to company Shareholders&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-153; -sec-ix-hidden: hidden-fact-152; -sec-ix-hidden: hidden-fact-151"&gt;Basic and diluted earnings per share&lt;/div&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;0.52&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;0.09&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;0.61&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-indent: -56.7pt"&gt;&lt;span style="text-transform: uppercase"&gt;&lt;b&gt;&#160;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;Notes to the adjustments and reclassifications
made in order to comply with IFRS:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify; text-indent: -0.9pt"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td style="width: 0.75in"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 24px; text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;1. &lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;Deferred taxes&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Under the U.S. GAAP, the Company has
recognized deferred tax assets and liabilities in respect of right of use assets and lease liabilities. Adjustment to deferred taxes were
recognized to conform with the transition to IFRS, as the book basis of such right of use assets and lease liabilities differs between
U.S. GAAP and IFRS.&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font: normal 10pt Times New Roman, Times, Serif"&gt;2.&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font: normal 10pt Times New Roman, Times, Serif"&gt;Post-employment
benefits&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;In accordance with U.S. GAAP, The Company&#x2019;s
liability for severance pay with respect to its Israeli employees (for the period for which the employees were not included under section
14 of the Severance Pay Law) was calculated pursuant to the Severance Pay Law, based on the most recent salary of the employees, multiplied
by the number of years of employment as of the reporting date. The Company&#x2019;s plan assets, which cover part of this obligation, were
presented as an asset on the Company&#x2019;s consolidated statements of financial position, based on its cash-surrendered value. In accordance
with IFRS, the liability for severance pay is measured using the projected unit credit method and actuarial assumptions (which include
rates of employee turnover and future salary increases based on the estimated timing of payment), and is presented based on discounted
expected future cash flows. The liability for severance pay shown in the statement of financial position, is net of the fair value of
the plan assets. Remeasurements of the net liability are recognized in other comprehensive income in the period in which they occur.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company has elected to recognize
all cumulative actuarial gains and losses as at the date of transition in retained earnings. The Company is not required to re-compute
the unrecognized portion of actuarial gains and losses from the inception of the defined benefit plans. Instead, The Company applies IAS
19 Employee Benefits from the date of transition. Therefore, at the date of transition, The Company recognizes the pension obligations
in accordance with IAS 19 Employee Benefits and no unrecognized actuarial gains and losses are presented at the transition date. The Company&#x2019;s
net liability for severance pay as of January 1, 2021 and December 31, 2021, decreased by $4,673 and $3,646, retrospectively, as a result
from the different measurement.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;
  &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in; text-align: justify"&gt;&lt;span style="font: normal 10pt Times New Roman, Times, Serif"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"&gt;&lt;span style="font: normal 10pt Times New Roman, Times, Serif"&gt;3.&lt;/span&gt;&lt;/td&gt;
    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;span style="font: normal 10pt Times New Roman, Times, Serif"&gt;Redeemable
    non-controlling interests&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Under U.S. GAAP, redeemable non-controlling
interests were classified as mezzanine equity on the consolidated statements and measured at each reporting period at the higher of their
redemption amount or the non-controlling interest book value. The profit attributed to the redeemable non-controlling interests was recorded
in profit or loss and included in &#x201c;Net income attributable to redeemable non-controlling interests&#x201d;. Changes to the redemption
amount of the redeemable non-controlling interests were recorded in retained earnings. Such change to the redemption amount of the redeemable
non-controlling interests was excluded from the net income attributable to Magic shareholders for the purpose of calculating the earnings
per share numerator.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;In accordance with IFRS, put option
granted to non-controlling interests are classified as financial liability on the consolidated statements of financial position ($ 14,611
and $ 9,315 short-term and long-term, respectively, as of January 1, 2021 and $ 23,197 and $ 6,137 short-term and long-term, respectively,
as of December 31, 2021), and measure based on the present value of the consideration to be transferred upon the exercise of the put option.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;When the Company grants to non-controlling
interests a put option to sell part or all of their interests in a subsidiary, during a certain period, even if such purchase obligation
is conditional on the counterparty&#x2019;s exercise of its contractual right to cause such redemption, if the put option agreement does
not transfer to the Company any benefits incidental to ownership of the equity instrument (i.e. the Company does not have a present ownership
in the shares concerned) then at the end of each reporting period the non-controlling interests (to which a portion of net profit attributable
to non-controlling interests is allocated) are classified as a financial liability, as if such put-able equity instrument was redeemed
on that date. The difference between the non-controlling interests carrying amount at the end of the reporting period and the present
value of the liability is recognized directly in equity of the Company, under &#x201c;Additional paid-in capital&#x201d;, and in contrary
to U.S. GAAP, such difference has no effect on the calculation of the earnings per share numerator.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;The Company remeasures the financial
liability at the end of each reporting period based on the estimated present value of the consideration to be transferred upon the exercise
of the put option.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;If the option is exercised in subsequent
periods, the consideration paid upon exercise is treated as settlement of the liability. If the put option expires, the liability is settled
and a portion of the investment in the subsidiary disposed of, without loss of control therein.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font: normal 10pt Times New Roman, Times, Serif"&gt;4.&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font: normal 10pt Times New Roman, Times, Serif"&gt;Right
                                            of use assets and lease liabilities&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Under U.S. GAAP, ROU assets and liabilities
are recognized on the commencement date based on the present value of remaining lease payments over the lease term. For this purpose,
the Company considers only payments that are fixed and determinable at the time of commencement. As most of the Company&#x2019;s leases
do not provide an implicit rate, the Company uses its incremental borrowing rate (&#x201c;IBR&#x201d;) based on the information available
on the commencement date in determining the present value of lease payments. The Company&#x2019;s IBR is estimated to approximate the interest
rate for collateralized borrowing with similar terms and payments and in economic environments where the leased asset is located. Certain
leases include options to extend or terminate the lease. The ROU asset also includes any lease payments made prior to commencement and
is recorded net of any lease incentives received. Moreover, the ROU asset may also include initial direct costs, which are incremental
costs of a lease that would not have been incurred if the lease had not been obtained. The Company uses the long-lived assets impairment
guidance in ASC Subtopic 360-10, &#x201c;Property, Plant, and Equipment - Overall,&#x201d; to determine whether a right-of-use asset is
impaired, and if so, the amount of the impairment loss to recognize. An option to extend the lease is considered in connection with determining
the ROU asset and lease liability when it is reasonably certain that the Company will exercise that option. An option to terminate is
considered unless it is reasonably certain that the Company will not exercise the option.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;In accordance with IFRS, &lt;span style="background-color: white"&gt;for
leases in which the Company is the lessee, the Company recognizes on the commencement date of the lease a right-of-use asset and a lease
liability, excluding leases whose term is up to 12 months and leases for which the underlying asset is of low value. For these excluded
leases, the Company has elected to recognize the lease payments as an expense in profit or loss on a straight-line basis over the lease
term. In measuring the lease liability, the Company has elected to apply the practical expedient in IFRS 16 and does not separate the
lease components from the non-lease components (such as management and maintenance services, etc.) included in a single contract.&#160;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&lt;span style="background-color: white"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;On the commencement date, the lease
liability includes all unpaid lease payments discounted at the &lt;span style="background-color: white"&gt;interest rate implicit in the lease,
if that rate can be readily determined, or otherwise using the Company&#x2019;s incremental borrowing rate. After the commencement date,
the Company measures the lease liability using the effective interest rate method.&#160;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&lt;span style="background-color: white"&gt;&#160;&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;span style="background-color: white"&gt;On
the commencement date, the right-of-use asset is recognized in an amount equal to the lease liability plus lease payments already made
on or before the commencement date and initial direct costs incurred less any lease incentives received. The right-of-use asset is measured
by applying the cost model and depreciated over the shorter of its useful life or the lease term. The Company tests for impairment of
the right-of-use asset whenever there are indications of impairment pursuant to the provisions of IAS 36.&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font-size: 10pt"&gt;5.&lt;/span&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;Reconciliation between the total
equity attributable to Magic&#x2019;s shareholders as reported under the U.S. GAAP as of January 1, 2021 and December 31, 2021 compared
to the amounts reported in accordance with IFRS.&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;b&gt;Share&lt;br/&gt; Capital&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;b&gt;Additional&lt;br/&gt; paid-in&lt;br/&gt; capital&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;b&gt;Retained&lt;br/&gt; earnings&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;b&gt;Accumulated&lt;br/&gt; other&lt;br/&gt; comprehensive&lt;br/&gt; income
    (loss)&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;b&gt;Total Equity&lt;br/&gt; attributable to&lt;br/&gt; Magic&#x2019;s&lt;br/&gt;
    shareholders&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="18" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;As of January 1, 2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; width: 40%; text-align: left; padding-bottom: 1.5pt"&gt;As reported in the Company&#x2019;s consolidated financial statements as of January 1, 2021 in accordance with U.S. GAAP:&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right"&gt;1,164&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right"&gt;211,713&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right"&gt;39,720&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right"&gt;7,835&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right"&gt;260,432&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-decoration: underline; text-align: justify"&gt;Transition to IFRS:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: 0in; padding-left: 0in"&gt;Measurement adjustments related to leases&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-154"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-155"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,654&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-156"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,654&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Measurement adjustments related to redeemable non-controlling interests&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-157"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(23,298&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;24,607&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(398&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;911&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: 0in; padding-left: 0.125in"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-158"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(23,298&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;22,953&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(398&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(743&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: 0in; padding-left: 0.125in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"&gt;As of January 1, 2021 in accordance with IFRS:&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;1,164&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;188,415&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;62,673&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;7,437&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;259,689&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="margin: 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding: 0pt 0pt 0pt 0.125in; text-align: justify; text-indent: -0.125in"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="18" style="border-bottom: Black 1.5pt solid; padding: 0pt; font-weight: bold; text-align: center; text-indent: 0pt"&gt;As of December 31, 2021&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt; width: 40%"&gt;As reported in the Company&#x2019;s consolidated financial statements as of December 31, 2021 &#160;in accordance with U.S. GAAP:&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; width: 1%; text-align: left; text-indent: 0pt"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; width: 9%; text-align: right; text-indent: 0pt"&gt;1,165&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; width: 1%; text-align: left; text-indent: 0pt"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; width: 9%; text-align: right; text-indent: 0pt"&gt;211,543&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; width: 1%; text-align: left; text-indent: 0pt"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; width: 9%; text-align: right; text-indent: 0pt"&gt;43,246&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; width: 1%; text-align: left; text-indent: 0pt"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; width: 9%; text-align: right; text-indent: 0pt"&gt;9,294&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; width: 1%; text-align: left; text-indent: 0pt"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; width: 9%; text-align: right; text-indent: 0pt"&gt;265,248&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding: 0pt 0pt 0pt 0.125in; text-align: justify; text-indent: -0.125in"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding: 0pt 0pt 0pt 0.125in; text-decoration: underline; text-align: justify; text-indent: -0.125in"&gt;Transition to IFRS:&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding: 0pt 0pt 0pt 0.125in; text-align: justify; text-indent: -0.125in"&gt;Measurement adjustments related to leases&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-159"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-160"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;(1,210&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;)&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-161"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;(1,210&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Measurement adjustments related to redeemable non-controlling interests&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: right; text-indent: 0pt"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-162"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: right; text-indent: 0pt"&gt;(27,496&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;)&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: right; text-indent: 0pt"&gt;28,624&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: right; text-indent: 0pt"&gt;(30&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;)&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: right; text-indent: 0pt"&gt;1,098&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding: 0pt 0pt 0pt 0.125in; text-align: justify; text-indent: -0.125in"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: right; text-indent: 0pt"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-163"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: right; text-indent: 0pt"&gt;(27,496&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;)&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: right; text-indent: 0pt"&gt;27,414&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: right; text-indent: 0pt"&gt;(30&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;)&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: right; text-indent: 0pt"&gt;(112&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding: 0pt 0pt 0pt 0.125in; text-align: justify; text-indent: -0.125in"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding: 0pt 0pt 0pt 0.125in; text-align: justify; text-indent: -0.125in"&gt;As of December 31, 2021 in accordance with IFRS:&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; padding: 0pt; text-align: left; text-indent: 0pt"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; padding: 0pt; text-align: right; text-indent: 0pt"&gt;1,165&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; padding: 0pt; text-align: left; text-indent: 0pt"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; padding: 0pt; text-align: right; text-indent: 0pt"&gt;184,047&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; padding: 0pt; text-align: left; text-indent: 0pt"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; padding: 0pt; text-align: right; text-indent: 0pt"&gt;70,660&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; padding: 0pt; text-align: left; text-indent: 0pt"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; padding: 0pt; text-align: right; text-indent: 0pt"&gt;9,264&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; padding: 0pt; text-align: left; text-indent: 0pt"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; padding: 0pt; text-align: right; text-indent: 0pt"&gt;265,136&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;span style="text-transform: uppercase"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in; text-align: left"&gt;&lt;span style="font-size: 10pt"&gt;6.&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;Certain reclassifications have
been made to the consolidated statements of financial position. Such reclassifications affect the presentation of certain items in the
consolidated statement of financial position, and have no impact on net income or equity of The Company:&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-indent: -56.7pt"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Under the U.S. GAAP, redeemable non-controlling
interests were presented as a separate mezzanine equity item on the consolidated statements. In accordance with IFRS, redeemable non-controlling
interests are classified as financial liability on the consolidated statements of financial position ($14,611 and $9,315 short-term
and long-term, respectively, as of January 1, 2021 and $15,454 and $13,880 short-term and long-term, respectively, as of December 31,
2021)&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Finance expenses and income - In accordance
with U.S. GAAP, financial income and expense were presented net in the Company&#x2019;s consolidated statements of profit or loss (although
presented separately in a note). Under the IFRS, the Company has separately classified financial income and expense in its consolidated
financial statements.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"&gt;Accrued interest on loans &#x2013; Under
U.S. GAAP, the Company elected to present the accrued interest on loans as part of accrued expenses and other accounts payable in its
consolidated statements of financial position. Under IFRS, the Company elected to reclassify the balance to short term debt in its consolidated
statements of financial position, mainly in order to comply with parent company reporting requirements.&lt;/p&gt;</mgic:DisclosureOfTransitionToIFRSTextBlock>
    <ifrs-full:DisclosureOfFinanceIncomeExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;As of January 1, 2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;U.S. GAAP&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Other GAAP&lt;br/&gt; Adjustments&lt;br/&gt; and&lt;br/&gt; reclassifications&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;IFRS&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold"&gt;ASSETS&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold"&gt;CURRENT ASSETS:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left; padding-left: 9pt"&gt;Cash and cash equivalents&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;88,127&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-101"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;88,127&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Short-term deposits&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;289&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-102"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;289&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Trade receivables, net&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;91,986&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-103"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;91,986&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Unbilled receivables and contract assets&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;19,073&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-104"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;19,073&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt"&gt;Other accounts receivable and prepaid expenses&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;11,751&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-105"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;11,751&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt"&gt;Total&#160;&#160;current assets&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;211,226&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-106"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;211,226&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;LONG-TERM ASSETS:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 9pt"&gt;Severance pay fund&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,673&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(4,673&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Deferred taxes&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,397&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(162&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,235&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Right-of-use assets&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;24,509&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,146&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;23,363&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Other accounts receivable&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,507&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-107"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,507&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Property, plants and equipment, net&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,988&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-108"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,988&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Intangible assets, net&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;53,404&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-109"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;53,404&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 1.5pt; padding-left: 9pt"&gt;Goodwill&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;135,682&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-110"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;135,682&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt"&gt;Total&#160;long-term assets&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;236,160&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(5,981&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;230,179&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 4pt"&gt;Total&#160;assets&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;447,386&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(5,981&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;441,405&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;LIABILITIES AND EQUITY&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;CURRENT LIABILITIES:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Short term debt&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;11,529&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;69&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;11,598&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Trade payables&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;14,250&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-111"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;14,250&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Accrued expenses and other accounts payable&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;41,846&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(69&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;41,777&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Current maturities of operating lease liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,413&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;379&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,792&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Liabilities in respect of business combinations&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,998&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-112"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,998&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Redeemable non-controlling interests&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-113"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;14,611&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;14,611&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt"&gt;Deferred revenue and customer advances&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;8,793&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-114"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;8,793&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt"&gt;Total&#160;current liabilities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;84,829&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;14,990&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;99,819&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;LONG-TERM&#160;&#160;LIABILITIES:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Long-term debt&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;13,352&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-115"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;13,352&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Long-term operating lease liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;21,109&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;121&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;21,230&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Liability in respect of business combinations&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;10,926&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-116"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;10,926&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Deferred taxes&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;17,639&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(155&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;17,484&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Redeemable non-controlling interests&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-117"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;9,315&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;9,315&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt"&gt;Accrued severance pay, net&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;5,545&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(4,673&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;872&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt"&gt;Total&#160;long-term liabilities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;68,571&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(4,608&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;73,179&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt"&gt;REDEEMABLE NON-CONTROLLING INTEREST&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;24,980&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(24,980&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-118"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold"&gt;EQUITY&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 9pt"&gt;Share capital&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,164&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-119"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,164&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Additional paid-in capital&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;211,713&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(23,298&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;188,415&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-left: 9pt"&gt;Accumulated other comprehensive loss&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;7,835&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(398&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;7,437&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt"&gt;Accumulated earnings&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;39,720&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;22,953&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;62,673&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Total&#160;equity attributable to company shareholders&#x2019;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;260,432&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(743&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;259,689&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt"&gt;Non-controlling interests&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;8,574&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;143&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;8,718&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt"&gt;Total&#160;equity&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;269,006&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(600&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;268,407&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Total&#160;liabilities, redeemable non-controlling interest and equity&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;447,386&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(5,981&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;441,405&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;As of December 31, 2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;U.S. GAAP&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Other GAAP&lt;br/&gt;
Adjustments&lt;br/&gt;
and&lt;br/&gt;
reclassifications&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;IFRS&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: justify"&gt;ASSETS&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; text-align: justify"&gt;CURRENT ASSETS:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Cash and cash equivalents&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;88,090&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;-&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;88,090&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Short-term deposits&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,586&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-120"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,586&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Trade receivables, net&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;116,975&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-121"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;116,975&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Unbilled receivables and contract assets&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;25,096&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-122"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;25,096&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 16.2pt"&gt;Other accounts receivable and prepaid expenses&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;11,032&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(5&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;11,027&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Total&#160;&#160;current assets&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;246,779&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(5&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;246,774&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;LONG-TERM ASSETS:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Severance pay fund&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,646&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(3,646&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-123"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Deferred taxes&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,091&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(98&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;7,993&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt; Right-of-use assets&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;24,299&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,019&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;23,280&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Other accounts receivable&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,165&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-124"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,165&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Property, plants and equipment, net&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,872&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-125"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,872&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Intangible assets, net&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;51,390&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-126"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;51,390&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 16.2pt"&gt;Goodwill&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;146,803&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-127"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;146,803&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify; padding-bottom: 4pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Total&#160;long-term assets&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;245,266&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(4,763&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;240,503&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify; padding-bottom: 4pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Total&#160;assets&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;492,045&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(4,768&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;487,277&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;LIABILITIES AND EQUITY&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify; text-indent: -0.1in; padding-left: 0.25in"&gt;CURRENT LIABILITIES:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.25in"&gt;Short term debt&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;17,032&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;76&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;17,108&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Trade payables&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;24,711&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-128"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;24,711&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Accrued expenses and other accounts payable&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;45,173&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(82&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;45,091&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Current maturities of operating lease liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,943&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(676&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,267&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Liabilities in respect of business combinations&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,635&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-129"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,635&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Redeemable non-controlling interests&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-130"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;23,197&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;23,197&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 16.2pt"&gt;Deferred revenue and customer advances&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;10,771&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-131"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;10,771&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Total&#160;current liabilities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;108,265&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;22,515&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;130,780&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;LONG-TERM&#160;&#160;LIABILITIES:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Long-term debt&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;20,155&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-132"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;20,155&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Long-term operating lease liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;20,970&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;937&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;21,907&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Liability in respect of business combinations&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;13,892&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-133"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;13,892&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Deferred taxes&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;18,112&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(167&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;17,945&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Redeemable non-controlling interests&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-134"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,137&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,137&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 16.2pt"&gt;Accrued severance pay, net&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;4,551&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(3,646&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;905&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Total&#160;long-term liabilities&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;77,680&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3,261&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;80,941&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"&gt;REDEEMABLE NON-CONTROLLING INTEREST&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;30,432&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(30,432&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;-&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;EQUITY&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Share capital&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,165&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-135"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,165&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Additional paid-in capital&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;211,543&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(27,496&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;184,047&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 16.2pt"&gt;Accumulated other comprehensive loss&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;9,294&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(30&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;9,264&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 16.2pt"&gt;Accumulated earnings&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;43,246&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;27,414&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;70,660&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Total&#160;equity attributable to company shareholders&#x2019;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;265,248&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(112&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;265,136&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Non-controlling interests&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;10,420&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-136"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;10,420&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Total&#160;equity&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;275,668&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(112&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;275,556&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: justify; padding-bottom: 4pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Total&#160;liabilities, redeemable non-controlling interest and equity&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;492,045&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(4,768&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;487,277&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-indent: -56.7pt"&gt;&#160;&lt;/p&gt;</ifrs-full:DisclosureOfFinanceIncomeExplanatory>
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    <ifrs-full:CashAndCashEquivalents contextRef="c3" decimals="-3" unitRef="usd">88127000</ifrs-full:CashAndCashEquivalents>
    <ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents contextRef="c347" decimals="-3" unitRef="usd">289000</ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents>
    <ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents contextRef="c3" decimals="-3" unitRef="usd">289000</ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents>
    <ifrs-full:TradeAndOtherCurrentReceivables contextRef="c347" decimals="-3" unitRef="usd">91986000</ifrs-full:TradeAndOtherCurrentReceivables>
    <ifrs-full:TradeAndOtherCurrentReceivables contextRef="c3" decimals="-3" unitRef="usd">91986000</ifrs-full:TradeAndOtherCurrentReceivables>
    <ifrs-full:OtherCurrentNonfinancialAssets contextRef="c347" decimals="-3" unitRef="usd">19073000</ifrs-full:OtherCurrentNonfinancialAssets>
    <ifrs-full:OtherCurrentNonfinancialAssets contextRef="c3" decimals="-3" unitRef="usd">19073000</ifrs-full:OtherCurrentNonfinancialAssets>
    <ifrs-full:CurrentPrepaymentsAndOtherCurrentAssets contextRef="c347" decimals="-3" unitRef="usd">11751000</ifrs-full:CurrentPrepaymentsAndOtherCurrentAssets>
    <ifrs-full:CurrentPrepaymentsAndOtherCurrentAssets contextRef="c3" decimals="-3" unitRef="usd">11751000</ifrs-full:CurrentPrepaymentsAndOtherCurrentAssets>
    <ifrs-full:CurrentAssets contextRef="c347" decimals="-3" unitRef="usd">211226000</ifrs-full:CurrentAssets>
    <ifrs-full:CurrentAssets contextRef="c3" decimals="-3" unitRef="usd">211226000</ifrs-full:CurrentAssets>
    <mgic:SeverancePayFund contextRef="c347" decimals="-3" unitRef="usd">4673000</mgic:SeverancePayFund>
    <mgic:SeverancePayFund contextRef="c348" decimals="-3" unitRef="usd">-4673000</mgic:SeverancePayFund>
    <mgic:DeferredTaxAssetsNonCurrent contextRef="c347" decimals="-3" unitRef="usd">6397000</mgic:DeferredTaxAssetsNonCurrent>
    <mgic:DeferredTaxAssetsNonCurrent contextRef="c348" decimals="-3" unitRef="usd">-162000</mgic:DeferredTaxAssetsNonCurrent>
    <mgic:DeferredTaxAssetsNonCurrent contextRef="c3" decimals="-3" unitRef="usd">6235000</mgic:DeferredTaxAssetsNonCurrent>
    <ifrs-full:RightofuseAssets contextRef="c347" decimals="-3" unitRef="usd">24509000</ifrs-full:RightofuseAssets>
    <ifrs-full:RightofuseAssets contextRef="c348" decimals="-3" unitRef="usd">-1146000</ifrs-full:RightofuseAssets>
    <ifrs-full:RightofuseAssets contextRef="c3" decimals="-3" unitRef="usd">23363000</ifrs-full:RightofuseAssets>
    <ifrs-full:OtherReceivables contextRef="c347" decimals="-3" unitRef="usd">5507000</ifrs-full:OtherReceivables>
    <ifrs-full:OtherReceivables contextRef="c3" decimals="-3" unitRef="usd">5507000</ifrs-full:OtherReceivables>
    <ifrs-full:PropertyPlantAndEquipment contextRef="c347" decimals="-3" unitRef="usd">5988000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment contextRef="c3" decimals="-3" unitRef="usd">5988000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:IntangibleAssetsAndGoodwill contextRef="c347" decimals="-3" unitRef="usd">53404000</ifrs-full:IntangibleAssetsAndGoodwill>
    <ifrs-full:IntangibleAssetsAndGoodwill contextRef="c3" decimals="-3" unitRef="usd">53404000</ifrs-full:IntangibleAssetsAndGoodwill>
    <ifrs-full:Goodwill contextRef="c347" decimals="-3" unitRef="usd">135682000</ifrs-full:Goodwill>
    <ifrs-full:Goodwill contextRef="c3" decimals="-3" unitRef="usd">135682000</ifrs-full:Goodwill>
    <ifrs-full:NoncurrentAssets contextRef="c347" decimals="-3" unitRef="usd">236160000</ifrs-full:NoncurrentAssets>
    <ifrs-full:NoncurrentAssets contextRef="c348" decimals="-3" unitRef="usd">-5981000</ifrs-full:NoncurrentAssets>
    <ifrs-full:NoncurrentAssets contextRef="c3" decimals="-3" unitRef="usd">230179000</ifrs-full:NoncurrentAssets>
    <ifrs-full:Assets contextRef="c347" decimals="-3" unitRef="usd">447386000</ifrs-full:Assets>
    <ifrs-full:Assets contextRef="c348" decimals="-3" unitRef="usd">-5981000</ifrs-full:Assets>
    <ifrs-full:Assets contextRef="c3" decimals="-3" unitRef="usd">441405000</ifrs-full:Assets>
    <ifrs-full:ShorttermBorrowings contextRef="c347" decimals="-3" unitRef="usd">11529000</ifrs-full:ShorttermBorrowings>
    <ifrs-full:ShorttermBorrowings contextRef="c348" decimals="-3" unitRef="usd">69000</ifrs-full:ShorttermBorrowings>
    <ifrs-full:ShorttermBorrowings contextRef="c3" decimals="-3" unitRef="usd">11598000</ifrs-full:ShorttermBorrowings>
    <ifrs-full:TradeAndOtherPayablesToTradeSuppliers contextRef="c347" decimals="-3" unitRef="usd">14250000</ifrs-full:TradeAndOtherPayablesToTradeSuppliers>
    <ifrs-full:TradeAndOtherPayablesToTradeSuppliers contextRef="c3" decimals="-3" unitRef="usd">14250000</ifrs-full:TradeAndOtherPayablesToTradeSuppliers>
    <ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities contextRef="c347" decimals="-3" unitRef="usd">41846000</ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities>
    <ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities contextRef="c348" decimals="-3" unitRef="usd">-69000</ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities>
    <ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities contextRef="c3" decimals="-3" unitRef="usd">41777000</ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities>
    <ifrs-full:CurrentLeaseLiabilities contextRef="c347" decimals="-3" unitRef="usd">3413000</ifrs-full:CurrentLeaseLiabilities>
    <ifrs-full:CurrentLeaseLiabilities contextRef="c348" decimals="-3" unitRef="usd">379000</ifrs-full:CurrentLeaseLiabilities>
    <ifrs-full:CurrentLeaseLiabilities contextRef="c3" decimals="-3" unitRef="usd">3792000</ifrs-full:CurrentLeaseLiabilities>
    <mgic:LiabilityInRespectOfBusinessCombinationsCurrent contextRef="c347" decimals="-3" unitRef="usd">4998000</mgic:LiabilityInRespectOfBusinessCombinationsCurrent>
    <mgic:LiabilityInRespectOfBusinessCombinationsCurrent contextRef="c3" decimals="-3" unitRef="usd">4998000</mgic:LiabilityInRespectOfBusinessCombinationsCurrent>
    <mgic:PutOptionsOfNoncontrollingInterestsCurrent contextRef="c348" decimals="-3" unitRef="usd">14611000</mgic:PutOptionsOfNoncontrollingInterestsCurrent>
    <mgic:PutOptionsOfNoncontrollingInterestsCurrent contextRef="c3" decimals="-3" unitRef="usd">14611000</mgic:PutOptionsOfNoncontrollingInterestsCurrent>
    <ifrs-full:CurrentDerivativeFinancialLiabilities contextRef="c347" decimals="-3" unitRef="usd">8793000</ifrs-full:CurrentDerivativeFinancialLiabilities>
    <ifrs-full:CurrentDerivativeFinancialLiabilities contextRef="c3" decimals="-3" unitRef="usd">8793000</ifrs-full:CurrentDerivativeFinancialLiabilities>
    <ifrs-full:CurrentLiabilities contextRef="c347" decimals="-3" unitRef="usd">84829000</ifrs-full:CurrentLiabilities>
    <ifrs-full:CurrentLiabilities contextRef="c348" decimals="-3" unitRef="usd">14990000</ifrs-full:CurrentLiabilities>
    <ifrs-full:CurrentLiabilities contextRef="c3" decimals="-3" unitRef="usd">99819000</ifrs-full:CurrentLiabilities>
    <ifrs-full:LongtermBorrowings contextRef="c347" decimals="-3" unitRef="usd">13352000</ifrs-full:LongtermBorrowings>
    <ifrs-full:LongtermBorrowings contextRef="c3" decimals="-3" unitRef="usd">13352000</ifrs-full:LongtermBorrowings>
    <ifrs-full:NoncurrentLeaseLiabilities contextRef="c347" decimals="-3" unitRef="usd">21109000</ifrs-full:NoncurrentLeaseLiabilities>
    <ifrs-full:NoncurrentLeaseLiabilities contextRef="c348" decimals="-3" unitRef="usd">121000</ifrs-full:NoncurrentLeaseLiabilities>
    <ifrs-full:NoncurrentLeaseLiabilities contextRef="c3" decimals="-3" unitRef="usd">21230000</ifrs-full:NoncurrentLeaseLiabilities>
    <mgic:LiabilityInRespectOfBusinessCombinationsNoncurrent contextRef="c347" decimals="-3" unitRef="usd">10926000</mgic:LiabilityInRespectOfBusinessCombinationsNoncurrent>
    <mgic:LiabilityInRespectOfBusinessCombinationsNoncurrent contextRef="c3" decimals="-3" unitRef="usd">10926000</mgic:LiabilityInRespectOfBusinessCombinationsNoncurrent>
    <mgic:DeferredTaxLiabilitiesNonCurrent contextRef="c347" decimals="-3" unitRef="usd">17639000</mgic:DeferredTaxLiabilitiesNonCurrent>
    <mgic:DeferredTaxLiabilitiesNonCurrent contextRef="c348" decimals="-3" unitRef="usd">-155000</mgic:DeferredTaxLiabilitiesNonCurrent>
    <mgic:DeferredTaxLiabilitiesNonCurrent contextRef="c3" decimals="-3" unitRef="usd">17484000</mgic:DeferredTaxLiabilitiesNonCurrent>
    <mgic:PutOptionsOfNoncontrollingInterestsNoncurrent contextRef="c348" decimals="-3" unitRef="usd">9315000</mgic:PutOptionsOfNoncontrollingInterestsNoncurrent>
    <mgic:PutOptionsOfNoncontrollingInterestsNoncurrent contextRef="c3" decimals="-3" unitRef="usd">9315000</mgic:PutOptionsOfNoncontrollingInterestsNoncurrent>
    <ifrs-full:OtherNoncurrentLiabilities contextRef="c347" decimals="-3" unitRef="usd">5545000</ifrs-full:OtherNoncurrentLiabilities>
    <ifrs-full:OtherNoncurrentLiabilities contextRef="c348" decimals="-3" unitRef="usd">-4673000</ifrs-full:OtherNoncurrentLiabilities>
    <ifrs-full:OtherNoncurrentLiabilities contextRef="c3" decimals="-3" unitRef="usd">872000</ifrs-full:OtherNoncurrentLiabilities>
    <ifrs-full:NoncurrentLiabilities contextRef="c347" decimals="-3" unitRef="usd">68571000</ifrs-full:NoncurrentLiabilities>
    <ifrs-full:NoncurrentLiabilities contextRef="c348" decimals="-3" unitRef="usd">-4608000</ifrs-full:NoncurrentLiabilities>
    <ifrs-full:NoncurrentLiabilities contextRef="c3" decimals="-3" unitRef="usd">73179000</ifrs-full:NoncurrentLiabilities>
    <mgic:RedeemableNonControllingInterest contextRef="c347" decimals="-3" unitRef="usd">24980000</mgic:RedeemableNonControllingInterest>
    <mgic:RedeemableNonControllingInterest contextRef="c348" decimals="-3" unitRef="usd">-24980000</mgic:RedeemableNonControllingInterest>
    <ifrs-full:IssuedCapital contextRef="c347" decimals="-3" unitRef="usd">1164000</ifrs-full:IssuedCapital>
    <ifrs-full:IssuedCapital contextRef="c3" decimals="-3" unitRef="usd">1164000</ifrs-full:IssuedCapital>
    <ifrs-full:AdditionalPaidinCapital contextRef="c347" decimals="-3" unitRef="usd">211713000</ifrs-full:AdditionalPaidinCapital>
    <ifrs-full:AdditionalPaidinCapital contextRef="c348" decimals="-3" unitRef="usd">-23298000</ifrs-full:AdditionalPaidinCapital>
    <ifrs-full:AdditionalPaidinCapital contextRef="c3" decimals="-3" unitRef="usd">188415000</ifrs-full:AdditionalPaidinCapital>
    <ifrs-full:AccumulatedOtherComprehensiveIncome contextRef="c347" decimals="-3" unitRef="usd">7835000</ifrs-full:AccumulatedOtherComprehensiveIncome>
    <ifrs-full:AccumulatedOtherComprehensiveIncome contextRef="c348" decimals="-3" unitRef="usd">-398000</ifrs-full:AccumulatedOtherComprehensiveIncome>
    <ifrs-full:AccumulatedOtherComprehensiveIncome contextRef="c3" decimals="-3" unitRef="usd">7437000</ifrs-full:AccumulatedOtherComprehensiveIncome>
    <ifrs-full:RetainedEarnings contextRef="c347" decimals="-3" unitRef="usd">39720000</ifrs-full:RetainedEarnings>
    <ifrs-full:RetainedEarnings contextRef="c348" decimals="-3" unitRef="usd">22953000</ifrs-full:RetainedEarnings>
    <ifrs-full:RetainedEarnings contextRef="c3" decimals="-3" unitRef="usd">62673000</ifrs-full:RetainedEarnings>
    <ifrs-full:EquityAttributableToOwnersOfParent contextRef="c347" decimals="-3" unitRef="usd">260432000</ifrs-full:EquityAttributableToOwnersOfParent>
    <ifrs-full:EquityAttributableToOwnersOfParent contextRef="c348" decimals="-3" unitRef="usd">-743000</ifrs-full:EquityAttributableToOwnersOfParent>
    <ifrs-full:EquityAttributableToOwnersOfParent contextRef="c3" decimals="-3" unitRef="usd">259689000</ifrs-full:EquityAttributableToOwnersOfParent>
    <ifrs-full:NoncontrollingInterests contextRef="c347" decimals="-3" unitRef="usd">8574000</ifrs-full:NoncontrollingInterests>
    <ifrs-full:NoncontrollingInterests contextRef="c348" decimals="-3" unitRef="usd">143000</ifrs-full:NoncontrollingInterests>
    <ifrs-full:NoncontrollingInterests contextRef="c3" decimals="-3" unitRef="usd">8718000</ifrs-full:NoncontrollingInterests>
    <ifrs-full:Equity contextRef="c347" decimals="-3" unitRef="usd">269006000</ifrs-full:Equity>
    <ifrs-full:Equity contextRef="c348" decimals="-3" unitRef="usd">-600000</ifrs-full:Equity>
    <ifrs-full:Equity contextRef="c3" decimals="-3" unitRef="usd">268407000</ifrs-full:Equity>
    <ifrs-full:EquityAndLiabilities contextRef="c347" decimals="-3" unitRef="usd">447386000</ifrs-full:EquityAndLiabilities>
    <ifrs-full:EquityAndLiabilities contextRef="c348" decimals="-3" unitRef="usd">-5981000</ifrs-full:EquityAndLiabilities>
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    <ifrs-full:CurrentAssets contextRef="c4" decimals="-3" unitRef="usd">246774000</ifrs-full:CurrentAssets>
    <mgic:SeverancePayFund contextRef="c349" decimals="-3" unitRef="usd">3646000</mgic:SeverancePayFund>
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    <mgic:DeferredTaxAssetsNonCurrent contextRef="c349" decimals="-3" unitRef="usd">8091000</mgic:DeferredTaxAssetsNonCurrent>
    <mgic:DeferredTaxAssetsNonCurrent contextRef="c350" decimals="-3" unitRef="usd">-98000</mgic:DeferredTaxAssetsNonCurrent>
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    <ifrs-full:PropertyPlantAndEquipment contextRef="c349" decimals="-3" unitRef="usd">5872000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment contextRef="c4" decimals="-3" unitRef="usd">5872000</ifrs-full:PropertyPlantAndEquipment>
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    <ifrs-full:IntangibleAssetsAndGoodwill contextRef="c4" decimals="-3" unitRef="usd">51390000</ifrs-full:IntangibleAssetsAndGoodwill>
    <ifrs-full:Goodwill contextRef="c349" decimals="-3" unitRef="usd">146803000</ifrs-full:Goodwill>
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    <ifrs-full:NoncurrentAssets contextRef="c4" decimals="-3" unitRef="usd">240503000</ifrs-full:NoncurrentAssets>
    <ifrs-full:Assets contextRef="c349" decimals="-3" unitRef="usd">492045000</ifrs-full:Assets>
    <ifrs-full:Assets contextRef="c350" decimals="-3" unitRef="usd">-4768000</ifrs-full:Assets>
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    <ifrs-full:ShorttermBorrowings contextRef="c350" decimals="-3" unitRef="usd">76000</ifrs-full:ShorttermBorrowings>
    <ifrs-full:ShorttermBorrowings contextRef="c4" decimals="-3" unitRef="usd">17108000</ifrs-full:ShorttermBorrowings>
    <ifrs-full:TradeAndOtherPayablesToTradeSuppliers contextRef="c349" decimals="-3" unitRef="usd">24711000</ifrs-full:TradeAndOtherPayablesToTradeSuppliers>
    <ifrs-full:TradeAndOtherPayablesToTradeSuppliers contextRef="c4" decimals="-3" unitRef="usd">24711000</ifrs-full:TradeAndOtherPayablesToTradeSuppliers>
    <ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities contextRef="c349" decimals="-3" unitRef="usd">45173000</ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities>
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    <ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities contextRef="c4" decimals="-3" unitRef="usd">45091000</ifrs-full:CurrentAccruedExpensesAndOtherCurrentLiabilities>
    <ifrs-full:CurrentLeaseLiabilities contextRef="c349" decimals="-3" unitRef="usd">3943000</ifrs-full:CurrentLeaseLiabilities>
    <ifrs-full:CurrentLeaseLiabilities contextRef="c350" decimals="-3" unitRef="usd">-676000</ifrs-full:CurrentLeaseLiabilities>
    <ifrs-full:CurrentLeaseLiabilities contextRef="c4" decimals="-3" unitRef="usd">3267000</ifrs-full:CurrentLeaseLiabilities>
    <mgic:LiabilityInRespectOfBusinessCombinationsCurrent contextRef="c349" decimals="-3" unitRef="usd">6635000</mgic:LiabilityInRespectOfBusinessCombinationsCurrent>
    <mgic:LiabilityInRespectOfBusinessCombinationsCurrent contextRef="c4" decimals="-3" unitRef="usd">6635000</mgic:LiabilityInRespectOfBusinessCombinationsCurrent>
    <mgic:PutOptionsOfNoncontrollingInterestsCurrent contextRef="c350" decimals="-3" unitRef="usd">23197000</mgic:PutOptionsOfNoncontrollingInterestsCurrent>
    <mgic:PutOptionsOfNoncontrollingInterestsCurrent contextRef="c4" decimals="-3" unitRef="usd">23197000</mgic:PutOptionsOfNoncontrollingInterestsCurrent>
    <ifrs-full:CurrentDerivativeFinancialLiabilities contextRef="c349" decimals="-3" unitRef="usd">10771000</ifrs-full:CurrentDerivativeFinancialLiabilities>
    <ifrs-full:CurrentDerivativeFinancialLiabilities contextRef="c4" decimals="-3" unitRef="usd">10771000</ifrs-full:CurrentDerivativeFinancialLiabilities>
    <ifrs-full:CurrentLiabilities contextRef="c349" decimals="-3" unitRef="usd">108265000</ifrs-full:CurrentLiabilities>
    <ifrs-full:CurrentLiabilities contextRef="c350" decimals="-3" unitRef="usd">22515000</ifrs-full:CurrentLiabilities>
    <ifrs-full:CurrentLiabilities contextRef="c4" decimals="-3" unitRef="usd">130780000</ifrs-full:CurrentLiabilities>
    <ifrs-full:LongtermBorrowings contextRef="c349" decimals="-3" unitRef="usd">20155000</ifrs-full:LongtermBorrowings>
    <ifrs-full:LongtermBorrowings contextRef="c4" decimals="-3" unitRef="usd">20155000</ifrs-full:LongtermBorrowings>
    <ifrs-full:NoncurrentLeaseLiabilities contextRef="c349" decimals="-3" unitRef="usd">20970000</ifrs-full:NoncurrentLeaseLiabilities>
    <ifrs-full:NoncurrentLeaseLiabilities contextRef="c350" decimals="-3" unitRef="usd">937000</ifrs-full:NoncurrentLeaseLiabilities>
    <ifrs-full:NoncurrentLeaseLiabilities contextRef="c4" decimals="-3" unitRef="usd">21907000</ifrs-full:NoncurrentLeaseLiabilities>
    <mgic:LiabilityInRespectOfBusinessCombinationsNoncurrent contextRef="c349" decimals="-3" unitRef="usd">13892000</mgic:LiabilityInRespectOfBusinessCombinationsNoncurrent>
    <mgic:LiabilityInRespectOfBusinessCombinationsNoncurrent contextRef="c4" decimals="-3" unitRef="usd">13892000</mgic:LiabilityInRespectOfBusinessCombinationsNoncurrent>
    <mgic:DeferredTaxLiabilitiesNonCurrent contextRef="c349" decimals="-3" unitRef="usd">18112000</mgic:DeferredTaxLiabilitiesNonCurrent>
    <mgic:DeferredTaxLiabilitiesNonCurrent contextRef="c350" decimals="-3" unitRef="usd">-167000</mgic:DeferredTaxLiabilitiesNonCurrent>
    <mgic:DeferredTaxLiabilitiesNonCurrent contextRef="c4" decimals="-3" unitRef="usd">17945000</mgic:DeferredTaxLiabilitiesNonCurrent>
    <mgic:PutOptionsOfNoncontrollingInterestsNoncurrent contextRef="c350" decimals="-3" unitRef="usd">6137000</mgic:PutOptionsOfNoncontrollingInterestsNoncurrent>
    <mgic:PutOptionsOfNoncontrollingInterestsNoncurrent contextRef="c4" decimals="-3" unitRef="usd">6137000</mgic:PutOptionsOfNoncontrollingInterestsNoncurrent>
    <ifrs-full:OtherNoncurrentLiabilities contextRef="c349" decimals="-3" unitRef="usd">4551000</ifrs-full:OtherNoncurrentLiabilities>
    <ifrs-full:OtherNoncurrentLiabilities contextRef="c350" decimals="-3" unitRef="usd">-3646000</ifrs-full:OtherNoncurrentLiabilities>
    <ifrs-full:OtherNoncurrentLiabilities contextRef="c4" decimals="-3" unitRef="usd">905000</ifrs-full:OtherNoncurrentLiabilities>
    <ifrs-full:NoncurrentLiabilities contextRef="c349" decimals="-3" unitRef="usd">77680000</ifrs-full:NoncurrentLiabilities>
    <ifrs-full:NoncurrentLiabilities contextRef="c350" decimals="-3" unitRef="usd">3261000</ifrs-full:NoncurrentLiabilities>
    <ifrs-full:NoncurrentLiabilities contextRef="c4" decimals="-3" unitRef="usd">80941000</ifrs-full:NoncurrentLiabilities>
    <mgic:RedeemableNonControllingInterest contextRef="c349" decimals="-3" unitRef="usd">30432000</mgic:RedeemableNonControllingInterest>
    <mgic:RedeemableNonControllingInterest contextRef="c350" decimals="-3" unitRef="usd">-30432000</mgic:RedeemableNonControllingInterest>
    <ifrs-full:IssuedCapital contextRef="c349" decimals="-3" unitRef="usd">1165000</ifrs-full:IssuedCapital>
    <ifrs-full:IssuedCapital contextRef="c4" decimals="-3" unitRef="usd">1165000</ifrs-full:IssuedCapital>
    <ifrs-full:AdditionalPaidinCapital contextRef="c349" decimals="-3" unitRef="usd">211543000</ifrs-full:AdditionalPaidinCapital>
    <ifrs-full:AdditionalPaidinCapital contextRef="c350" decimals="-3" unitRef="usd">-27496000</ifrs-full:AdditionalPaidinCapital>
    <ifrs-full:AdditionalPaidinCapital contextRef="c4" decimals="-3" unitRef="usd">184047000</ifrs-full:AdditionalPaidinCapital>
    <ifrs-full:AccumulatedOtherComprehensiveIncome contextRef="c349" decimals="-3" unitRef="usd">9294000</ifrs-full:AccumulatedOtherComprehensiveIncome>
    <ifrs-full:AccumulatedOtherComprehensiveIncome contextRef="c350" decimals="-3" unitRef="usd">-30000</ifrs-full:AccumulatedOtherComprehensiveIncome>
    <ifrs-full:AccumulatedOtherComprehensiveIncome contextRef="c4" decimals="-3" unitRef="usd">9264000</ifrs-full:AccumulatedOtherComprehensiveIncome>
    <ifrs-full:RetainedEarnings contextRef="c349" decimals="-3" unitRef="usd">43246000</ifrs-full:RetainedEarnings>
    <ifrs-full:RetainedEarnings contextRef="c350" decimals="-3" unitRef="usd">27414000</ifrs-full:RetainedEarnings>
    <ifrs-full:RetainedEarnings contextRef="c4" decimals="-3" unitRef="usd">70660000</ifrs-full:RetainedEarnings>
    <ifrs-full:EquityAttributableToOwnersOfParent contextRef="c349" decimals="-3" unitRef="usd">265248000</ifrs-full:EquityAttributableToOwnersOfParent>
    <ifrs-full:EquityAttributableToOwnersOfParent contextRef="c350" decimals="-3" unitRef="usd">-112000</ifrs-full:EquityAttributableToOwnersOfParent>
    <ifrs-full:EquityAttributableToOwnersOfParent contextRef="c4" decimals="-3" unitRef="usd">265136000</ifrs-full:EquityAttributableToOwnersOfParent>
    <ifrs-full:NoncontrollingInterests contextRef="c349" decimals="-3" unitRef="usd">10420000</ifrs-full:NoncontrollingInterests>
    <ifrs-full:NoncontrollingInterests contextRef="c4" decimals="-3" unitRef="usd">10420000</ifrs-full:NoncontrollingInterests>
    <ifrs-full:Equity contextRef="c349" decimals="-3" unitRef="usd">275668000</ifrs-full:Equity>
    <ifrs-full:Equity contextRef="c350" decimals="-3" unitRef="usd">-112000</ifrs-full:Equity>
    <ifrs-full:Equity contextRef="c4" decimals="-3" unitRef="usd">275556000</ifrs-full:Equity>
    <ifrs-full:EquityAndLiabilities contextRef="c349" decimals="-3" unitRef="usd">492045000</ifrs-full:EquityAndLiabilities>
    <ifrs-full:EquityAndLiabilities contextRef="c350" decimals="-3" unitRef="usd">-4768000</ifrs-full:EquityAndLiabilities>
    <ifrs-full:EquityAndLiabilities contextRef="c4" decimals="-3" unitRef="usd">487277000</ifrs-full:EquityAndLiabilities>
    <ifrs-full:DisclosureOfOperatingSegmentsExplanatory contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Year ended December 31, 2021&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;U.S. GAAP&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;GAAP&lt;br/&gt;
Adjustments&lt;br/&gt;
and&lt;br/&gt;
reclassifications&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;IFRS&lt;/td&gt;&lt;td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Revenues&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Software services&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;30,934&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-137"&gt;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;30,934&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Maintenance and technical support&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;36,149&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-138"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;36,149&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Consulting services&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;413,242&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-139"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;413,242&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Total revenues&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;480,325&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-140"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;480,325&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Cost of revenues:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Software services&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;12,182&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-141"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;12,182&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Maintenance and technical support&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,144&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-142"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;4,144&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Consulting services&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;331,005&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-143"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;331,005&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Total cost of revenues&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;347,331&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-144"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;347,331&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Gross profit&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;132,994&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-145"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;132,994&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Research and development expenses, net&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,995&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-146"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,995&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Selling, marketing expenses&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;38,147&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-147"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;38,147&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;General and administrative expenses&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;32,110&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(888&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;31,222&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Change in valuation of contingent consideration related to acquisitions&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,507&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-148"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,507&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Operating income&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;51,235&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;888&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;52,123&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Financial expenses&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(3,268&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(534&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(3,802&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Financial income&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;113&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-149"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;113&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Increase in valuation of consideration related to acquisitions&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2,817&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-150"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2,817&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Income before taxes on income&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;45,263&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;354&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;45,617&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Taxes on income&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;10,359&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(81&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;10,278&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Net income&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;34,904&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;435&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;35,339&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Attributable to:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Redeemable non-controlling interests&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,517&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(3,517&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Non-controlling interests&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,055&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,517&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,572&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -0.1in; padding-left: 0.1in"&gt;Equity holders of the Company&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
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    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;435&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
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  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;Net earnings per share attributable to company Shareholders&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: -0.1in; padding-left: 0.1in"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-153; -sec-ix-hidden: hidden-fact-152; -sec-ix-hidden: hidden-fact-151"&gt;Basic and diluted earnings per share&lt;/div&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;0.52&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;0.09&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;0.61&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-indent: -56.7pt"&gt;&lt;span style="text-transform: uppercase"&gt;&lt;b&gt;&#160;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;</ifrs-full:DisclosureOfOperatingSegmentsExplanatory>
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    <ifrs-full:RevenueFromRenderingOfServices contextRef="c5" decimals="-3" unitRef="usd">30934000</ifrs-full:RevenueFromRenderingOfServices>
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    <ifrs-full:RevenueFromRenderingOfInformationTechnologyConsultingServices contextRef="c5" decimals="-3" unitRef="usd">413242000</ifrs-full:RevenueFromRenderingOfInformationTechnologyConsultingServices>
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    <mgic:CostOfSoftware contextRef="c5" decimals="-3" unitRef="usd">12182000</mgic:CostOfSoftware>
    <mgic:CostOfMaintenanceAndTechnicalSupport contextRef="c351" decimals="-3" unitRef="usd">4144000</mgic:CostOfMaintenanceAndTechnicalSupport>
    <mgic:CostOfMaintenanceAndTechnicalSupport contextRef="c5" decimals="-3" unitRef="usd">4144000</mgic:CostOfMaintenanceAndTechnicalSupport>
    <mgic:CostOfConsultingServices contextRef="c351" decimals="-3" unitRef="usd">331005000</mgic:CostOfConsultingServices>
    <mgic:CostOfConsultingServices contextRef="c5" decimals="-3" unitRef="usd">331005000</mgic:CostOfConsultingServices>
    <ifrs-full:CostOfSales contextRef="c351" decimals="-3" unitRef="usd">347331000</ifrs-full:CostOfSales>
    <ifrs-full:CostOfSales contextRef="c5" decimals="-3" unitRef="usd">347331000</ifrs-full:CostOfSales>
    <ifrs-full:GrossProfit contextRef="c351" decimals="-3" unitRef="usd">132994000</ifrs-full:GrossProfit>
    <ifrs-full:GrossProfit contextRef="c5" decimals="-3" unitRef="usd">132994000</ifrs-full:GrossProfit>
    <ifrs-full:ResearchAndDevelopmentExpense contextRef="c351" decimals="-3" unitRef="usd">8995000</ifrs-full:ResearchAndDevelopmentExpense>
    <ifrs-full:ResearchAndDevelopmentExpense contextRef="c5" decimals="-3" unitRef="usd">8995000</ifrs-full:ResearchAndDevelopmentExpense>
    <ifrs-full:SalesAndMarketingExpense contextRef="c351" decimals="-3" unitRef="usd">38147000</ifrs-full:SalesAndMarketingExpense>
    <ifrs-full:SalesAndMarketingExpense contextRef="c5" decimals="-3" unitRef="usd">38147000</ifrs-full:SalesAndMarketingExpense>
    <ifrs-full:GeneralAndAdministrativeExpense contextRef="c351" decimals="-3" unitRef="usd">32110000</ifrs-full:GeneralAndAdministrativeExpense>
    <ifrs-full:GeneralAndAdministrativeExpense contextRef="c352" decimals="-3" unitRef="usd">-888000</ifrs-full:GeneralAndAdministrativeExpense>
    <ifrs-full:GeneralAndAdministrativeExpense contextRef="c5" decimals="-3" unitRef="usd">31222000</ifrs-full:GeneralAndAdministrativeExpense>
    <ifrs-full:CumulativeGainLossPreviouslyRecognisedInOtherComprehensiveIncomeArisingFromReclassificationOfFinancialAssetsOutOfFairValueThroughOtherComprehensiveIncomeIntoFairValueThroughProfitOrLossMeasurementCategory contextRef="c351" decimals="-3" unitRef="usd">-2507000</ifrs-full:CumulativeGainLossPreviouslyRecognisedInOtherComprehensiveIncomeArisingFromReclassificationOfFinancialAssetsOutOfFairValueThroughOtherComprehensiveIncomeIntoFairValueThroughProfitOrLossMeasurementCategory>
    <ifrs-full:CumulativeGainLossPreviouslyRecognisedInOtherComprehensiveIncomeArisingFromReclassificationOfFinancialAssetsOutOfFairValueThroughOtherComprehensiveIncomeIntoFairValueThroughProfitOrLossMeasurementCategory contextRef="c5" decimals="-3" unitRef="usd">-2507000</ifrs-full:CumulativeGainLossPreviouslyRecognisedInOtherComprehensiveIncomeArisingFromReclassificationOfFinancialAssetsOutOfFairValueThroughOtherComprehensiveIncomeIntoFairValueThroughProfitOrLossMeasurementCategory>
    <ifrs-full:OtherOperatingIncomeExpense contextRef="c351" decimals="-3" unitRef="usd">51235000</ifrs-full:OtherOperatingIncomeExpense>
    <ifrs-full:OtherOperatingIncomeExpense contextRef="c352" decimals="-3" unitRef="usd">888000</ifrs-full:OtherOperatingIncomeExpense>
    <ifrs-full:OtherOperatingIncomeExpense contextRef="c5" decimals="-3" unitRef="usd">52123000</ifrs-full:OtherOperatingIncomeExpense>
    <ifrs-full:FinanceIncomeCost contextRef="c351" decimals="-3" unitRef="usd">-3268000</ifrs-full:FinanceIncomeCost>
    <ifrs-full:FinanceIncomeCost contextRef="c352" decimals="-3" unitRef="usd">-534000</ifrs-full:FinanceIncomeCost>
    <ifrs-full:FinanceIncomeCost contextRef="c5" decimals="-3" unitRef="usd">-3802000</ifrs-full:FinanceIncomeCost>
    <ifrs-full:FinanceIncome contextRef="c351" decimals="-3" unitRef="usd">113000</ifrs-full:FinanceIncome>
    <ifrs-full:FinanceIncome contextRef="c5" decimals="-3" unitRef="usd">113000</ifrs-full:FinanceIncome>
    <mgic:IncreaseInValuationOfConsiderationRelatedToAcquisitions contextRef="c351" decimals="-3" unitRef="usd">-2817000</mgic:IncreaseInValuationOfConsiderationRelatedToAcquisitions>
    <mgic:IncreaseInValuationOfConsiderationRelatedToAcquisitions contextRef="c5" decimals="-3" unitRef="usd">-2817000</mgic:IncreaseInValuationOfConsiderationRelatedToAcquisitions>
    <ifrs-full:IncomeFromContinuingOperationsAttributableToOwnersOfParent contextRef="c351" decimals="-3" unitRef="usd">45263000</ifrs-full:IncomeFromContinuingOperationsAttributableToOwnersOfParent>
    <ifrs-full:IncomeFromContinuingOperationsAttributableToOwnersOfParent contextRef="c352" decimals="-3" unitRef="usd">354000</ifrs-full:IncomeFromContinuingOperationsAttributableToOwnersOfParent>
    <ifrs-full:IncomeFromContinuingOperationsAttributableToOwnersOfParent contextRef="c5" decimals="-3" unitRef="usd">45617000</ifrs-full:IncomeFromContinuingOperationsAttributableToOwnersOfParent>
    <ifrs-full:IncomeTaxExpenseContinuingOperations contextRef="c351" decimals="-3" unitRef="usd">10359000</ifrs-full:IncomeTaxExpenseContinuingOperations>
    <ifrs-full:IncomeTaxExpenseContinuingOperations contextRef="c352" decimals="-3" unitRef="usd">-81000</ifrs-full:IncomeTaxExpenseContinuingOperations>
    <ifrs-full:IncomeTaxExpenseContinuingOperations contextRef="c5" decimals="-3" unitRef="usd">10278000</ifrs-full:IncomeTaxExpenseContinuingOperations>
    <ifrs-full:ProfitLoss contextRef="c351" decimals="-3" unitRef="usd">34904000</ifrs-full:ProfitLoss>
    <ifrs-full:ProfitLoss contextRef="c352" decimals="-3" unitRef="usd">435000</ifrs-full:ProfitLoss>
    <ifrs-full:ProfitLoss contextRef="c5" decimals="-3" unitRef="usd">35339000</ifrs-full:ProfitLoss>
    <mgic:RedeemableNoncontrollingInterests contextRef="c351" decimals="-3" unitRef="usd">3517000</mgic:RedeemableNoncontrollingInterests>
    <mgic:RedeemableNoncontrollingInterests contextRef="c352" decimals="-3" unitRef="usd">-3517000</mgic:RedeemableNoncontrollingInterests>
    <ifrs-full:ProfitLossAttributableToNoncontrollingInterests contextRef="c351" decimals="-3" unitRef="usd">2055000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
    <ifrs-full:ProfitLossAttributableToNoncontrollingInterests contextRef="c352" decimals="-3" unitRef="usd">3517000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
    <ifrs-full:ProfitLossAttributableToNoncontrollingInterests contextRef="c5" decimals="-3" unitRef="usd">5572000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
    <ifrs-full:ProfitLossAttributableToOwnersOfParent contextRef="c351" decimals="-3" unitRef="usd">29332000</ifrs-full:ProfitLossAttributableToOwnersOfParent>
    <ifrs-full:ProfitLossAttributableToOwnersOfParent contextRef="c352" decimals="-3" unitRef="usd">435000</ifrs-full:ProfitLossAttributableToOwnersOfParent>
    <ifrs-full:ProfitLossAttributableToOwnersOfParent contextRef="c5" decimals="-3" unitRef="usd">29767000</ifrs-full:ProfitLossAttributableToOwnersOfParent>
    <ifrs-full:BasicEarningsLossPerShareFromContinuingOperations contextRef="c351" decimals="2" unitRef="usdPershares">0.52</ifrs-full:BasicEarningsLossPerShareFromContinuingOperations>
    <ifrs-full:BasicEarningsLossPerShareFromContinuingOperations contextRef="c352" decimals="2" unitRef="usdPershares">0.09</ifrs-full:BasicEarningsLossPerShareFromContinuingOperations>
    <ifrs-full:BasicEarningsLossPerShareFromContinuingOperations contextRef="c5" decimals="2" unitRef="usdPershares">0.61</ifrs-full:BasicEarningsLossPerShareFromContinuingOperations>
    <ifrs-full:LiabilityAssetOfDefinedBenefitPlans contextRef="c3" decimals="0" unitRef="usd">4673</ifrs-full:LiabilityAssetOfDefinedBenefitPlans>
    <ifrs-full:LiabilityAssetOfDefinedBenefitPlans contextRef="c2" decimals="0" unitRef="usd">3646</ifrs-full:LiabilityAssetOfDefinedBenefitPlans>
    <ifrs-full:OtherShorttermEmployeeBenefits contextRef="c344" decimals="0" unitRef="usd">14611</ifrs-full:OtherShorttermEmployeeBenefits>
    <ifrs-full:OtherLongtermBenefits contextRef="c344" decimals="0" unitRef="usd">9315</ifrs-full:OtherLongtermBenefits>
    <ifrs-full:OtherShorttermEmployeeBenefits contextRef="c345" decimals="0" unitRef="usd">23197</ifrs-full:OtherShorttermEmployeeBenefits>
    <ifrs-full:OtherLongtermBenefits contextRef="c345" decimals="0" unitRef="usd">6137</ifrs-full:OtherLongtermBenefits>
    <mgic:ScheduleOfEquityAttributableShareholdersTableTextBlock contextRef="c0">&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;b&gt;Share&lt;br/&gt; Capital&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;b&gt;Additional&lt;br/&gt; paid-in&lt;br/&gt; capital&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;b&gt;Retained&lt;br/&gt; earnings&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;b&gt;Accumulated&lt;br/&gt; other&lt;br/&gt; comprehensive&lt;br/&gt; income
    (loss)&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;b&gt;Total Equity&lt;br/&gt; attributable to&lt;br/&gt; Magic&#x2019;s&lt;br/&gt;
    shareholders&lt;/b&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="18" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;As of January 1, 2021&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; width: 40%; text-align: left; padding-bottom: 1.5pt"&gt;As reported in the Company&#x2019;s consolidated financial statements as of January 1, 2021 in accordance with U.S. GAAP:&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right"&gt;1,164&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right"&gt;211,713&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right"&gt;39,720&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right"&gt;7,835&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right"&gt;260,432&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-decoration: underline; text-align: justify"&gt;Transition to IFRS:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; text-indent: 0in; padding-left: 0in"&gt;Measurement adjustments related to leases&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-154"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-155"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,654&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-156"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,654&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Measurement adjustments related to redeemable non-controlling interests&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-157"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(23,298&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;24,607&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(398&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;911&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: 0in; padding-left: 0.125in"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-158"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(23,298&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;22,953&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(398&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(743&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: justify; text-indent: 0in; padding-left: 0.125in"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"&gt;As of January 1, 2021 in accordance with IFRS:&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;1,164&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;188,415&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;62,673&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;7,437&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;259,689&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="margin: 0"&gt;&#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="padding: 0pt 0pt 0pt 0.125in; text-align: justify; text-indent: -0.125in"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="18" style="border-bottom: Black 1.5pt solid; padding: 0pt; font-weight: bold; text-align: center; text-indent: 0pt"&gt;As of December 31, 2021&lt;/td&gt;&lt;td style="padding: 0pt; font-weight: bold; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt; width: 40%"&gt;As reported in the Company&#x2019;s consolidated financial statements as of December 31, 2021 &#160;in accordance with U.S. GAAP:&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; width: 1%; text-align: left; text-indent: 0pt"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; width: 9%; text-align: right; text-indent: 0pt"&gt;1,165&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; width: 1%; text-align: left; text-indent: 0pt"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; width: 9%; text-align: right; text-indent: 0pt"&gt;211,543&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; width: 1%; text-align: left; text-indent: 0pt"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; width: 9%; text-align: right; text-indent: 0pt"&gt;43,246&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; width: 1%; text-align: left; text-indent: 0pt"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; width: 9%; text-align: right; text-indent: 0pt"&gt;9,294&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; width: 1%; text-align: left; text-indent: 0pt"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; width: 9%; text-align: right; text-indent: 0pt"&gt;265,248&lt;/td&gt;&lt;td style="padding: 0pt; width: 1%; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding: 0pt 0pt 0pt 0.125in; text-align: justify; text-indent: -0.125in"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding: 0pt 0pt 0pt 0.125in; text-decoration: underline; text-align: justify; text-indent: -0.125in"&gt;Transition to IFRS:&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding: 0pt 0pt 0pt 0.125in; text-align: justify; text-indent: -0.125in"&gt;Measurement adjustments related to leases&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-159"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-160"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;(1,210&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;)&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-161"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: right; text-indent: 0pt"&gt;(1,210&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Measurement adjustments related to redeemable non-controlling interests&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: right; text-indent: 0pt"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-162"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: right; text-indent: 0pt"&gt;(27,496&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;)&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: right; text-indent: 0pt"&gt;28,624&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: right; text-indent: 0pt"&gt;(30&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;)&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: right; text-indent: 0pt"&gt;1,098&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding: 0pt 0pt 0pt 0.125in; text-align: justify; text-indent: -0.125in"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: right; text-indent: 0pt"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-163"&gt;-&lt;/div&gt;&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: left; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: right; text-indent: 0pt"&gt;(27,496&lt;/td&gt;&lt;td style="padding: 0pt; text-align: left; text-indent: 0pt"&gt;)&lt;/td&gt;&lt;td style="padding: 0pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;
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                                            EVENTS&lt;/b&gt;&lt;/span&gt;&lt;/td&gt;
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&lt;td style="width: 0.75in"/&gt;&lt;td style="width: 0.25in"&gt;b)&lt;/td&gt;&lt;td style="text-align: justify"&gt;On March 27, 2023, the Company entered into a loan agreement with an Israeli bank, pursuant to which ,
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be repaid in four (4) equal annual instalments of $6,052 (including interest) starting March 27, 2024. The Bank Loan bears interest at
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end
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>146
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
// Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission.  Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105.
var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0);
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<DOCUMENT>
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<SEQUENCE>147
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
..report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

..report table.authRefData a {
	display: block;
	font-weight: bold;
}

..report table.authRefData p {
	margin-top: 0px;
}

..report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

..report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

..report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

..report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
..pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
..report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

..report hr {
	border: 1px solid #acf;
}

/* Top labels */
..report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

..report th.void	{
	background-color: transparent;
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
