International Business Machines

Cloud computing, the result of web revolution, represents the lean consumption of computing resources - the antithesis of bulky, expensive hardware acquisition and lengthy code writing projects.

According to global market technology and consulting company MarketsandMarkets.com, the global cloud computing market is anticipated to grow from $37.8 billion in 2010 to $121.1 billion in 2015 at a CAGR of 26.2%. Merrill Lynch projects the cloud market at $160 billion by 2011, and Gartner estimates it at $150 billion by 2013.

Amid the growing demand for cloud computing from application vendors, let's take a look at Israel-based application platform and business integration specialist, Magic Software Enterprises Ltd.. This company went public on the NASDAQ Global Market in August 1991 and on the TASE in November 2000.

Global provider of on-premise

Magic Software Enterprises is a global provider of on-premise and cloud-enabled application platform and business integration solutions.

The uniPaaS application platform enables enterprises and software vendors to build client/server applications and RIA targeting the latest technologies just as cloud computing, mobile phones and Software-as-a-Service offerings. The iBOLT business integration suite simplifies the integration of business applications including ERP, CRM , logistics, and supply chain management.

The company has a presence in over 50 countries

The company has a presence in over 50 countries , has thousands of clients and has partnerships with global IT leaders, including SAP AG, Salesforce.com, International Business Machines Corp. and Oracle Corp..

A quick peek at Magic Software's financial metrics from 2005 through 2009 reveals that there has been a year-over year increase in revenue in all the years except in 2009. Revenue is generated from sales of software, maintenance and technical support and consulting services.