Magic Software, BWise B.V. Partner for Compliance

Companies have joint offering of iBOLT and isCO software that is targeted at Sarbanes-Oxley compliance for SMBs

Or Yehuda, Israel, and Den Bosch, Netherlands — April 14, 2005 — Magic Software Enterprises, a provider of business integration and development technology, and BWise B.V., a provider of business process management (BPM) software, today announced a partnership to provide a full pre-configured Sarbanes-Oxley (SOX) Compliance solution for small and midsize businesses (SMBs), covering both articles 404 and 409 of the compliance requirements and includes automation and continuous control features.

The companies intend to expand the offering to cover additional automated compliance solutions such as Basel II and European Union (EU) Corporate Governance regulations.

The partnership with Magic Software, incorporating its iBOLT and iBOLT Portal solutions, will position BWise to resell its Sarbanes-Oxley software (BWise 3.0 isCO) to SMB markets.

BWise said it uses Magic Software's iBOLT and iBOLT Portal solutions to collect evidence for customers' user control review, automate evidence collection and storage, handle issues/escalation procedures, and enhance automated business processes with separate control processes to achieve real-time enterprise results.