Formula Systems investor ups ownership to 8.64%

By Lisa Kerner

Charlotte, N.C., March 19 - A group of Formula Systems (1985) Ltd. investors led by Menora Mivtachim Holdings Ltd. bought 32,574 shares of the company's stock between Dec. 15 and Jan. 13 priced from $3.95 to $7.79 each, according to a schedule 13D/A filed with the Securities and Exchange Commission on Thursday.

The investors beneficially own 1,141,360 shares, or 8.64%, of the Herzlia, Israel, internet technology solutions provider.

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