Exhibit 8.1
List of Subsidiaries
| Name of Subsidiary | Jurisdiction of Incorporation | |
| InSync Staffing Services, Inc. | Delaware | |
| Matrix IT Ltd. | Israel | |
| Magic Software Enterprises Ltd. (wholly-held by Matrix IT Ltd.) | Israel | |
| Michpal Micro Computers (1983) Ltd. | Israel | |
| TSG Advanced IT Systems, Ltd | Israel | |
| Ofek Ariel Photography Ltd | Israel | |
| Zap Group | Israel | |
| Shamrad Electronic (1997) Ltd | Israel | |
| Hashahar Telecom and Electricity Ltd | Israel | |
| Formula Infrastructure Ltd | Israel |