Shai Beilis

Mr. Beilis has served as a director of the Company from 1998 until 2010 and as a Chairman of the Board of Directors of the Company from May 2001 until May 2006. Mr. Beilis is currently a Chairman of the board of Prodify software solutions ltd, Shvil QM7 ltd and TakaroTech ltd and a member of the board of directors of BotanoCap ltd. Mr. Beilis founded Formula Ventures (within the Formula Group) in 1998 and has been the Chairman of its board since its inception. Formula Ventures Ltd., a current controlling shareholder of the Company, was the advisor and General Partner of two venture capital funds: Formula Ventures I and Formula Ventures II. Mr. Beilis joined the Formula Group in 1994 as Chief Executive Officer of Argotec. Mr. Beilis was CEO of Clal Computers and Technology Ltd. from 1993 to 1995, an Israeli IT holding company traded in the Tel-Aviv Stock Exchange. From 1987 to 1993, Mr. Beilis was Vice President at Digital Equipment Corporation Israel. From 1978 to 1986, he was Chief Executive Officer of Yael Software and Services. From 2002 to 2006, Mr. Beilis was the Chairman of Formula Vertex UK Ltd., which was the advisor for the European Technology Venture Portfolio of UBS Capital. Mr. Beilis has served as director or chairman of over sixty Israeli high tech companies (including the following Nasdaq listed companies: Wiztec Solutions Ltd. (1996 to 1999), BluePhoenix Solutions Ltd. (1995 to 2008), ClickSoftware Technologies Ltd. (2009 to 2015) and Formula Systems (1985) Ltd. (1997 to 2005)). Mr. Beilis holds an M.Sc. in Computer Science from the Weizmann Institute of Science in Rehovot, Israel, and a B.Sc., cum laude, in Mathematics and Statistics from the Hebrew University in Jerusalem, Israel.