The MAGIC-I telescope is the largest single-dish Imaging Atmospheric Cherenkov telescope in the world. A second telescope, MAGIC-II, will operate in coincidence with MAGIC-I in stereoscopic mode. MAGIC-II is a clone of MAGIC-I, but with a number of significant improvements, namely a highly pixelized camera with a wider trigger area, improved optical analog signal transmission and a 2-4 GSps fast readout. All the technical elements of MAGIC-II were installed by the end of 2008. The telescope is currently undergoing commissioning and integration with MAGIC-I. An update of the technical performance of MAGIC-I, a description of all the hardware elements of MAGIC-II and first results of the combined technical performance of the two telescopes will be reported.