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Why Is Sapiens International Stock Skyrocketing Wednesday? - Sapiens International (NASDAQ:SPNS)
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Software firm Sapiens to be acquired by Advent for $2.5 billion
Israeli software company Sapiens International said on Wednesday that it will be acquired by private equity firm Advent for $2.5 billion in cash.Read MoreThe post Software firm Sapiens to be acquired by Advent for $2.5 billion first appeared on The Who Dat Daily.
Israeli software specialist Sapiens International is taken over by US investment company Advent International On Wednesday, Israeli Sapiens International Corporation announced the acquisition by the private equity company Advent International for $2.5 billion. The deal demonstrates the growing interest of financial investors in software companies specializing in the insurance industry, especially in the context of advancing AI integration.
Sapiens, the provider of technology solutions for the insurance sector managed by Roni Al-Dor, is being acquired by the American private equity fund Advent in a $2.5 billion deal • The deal value reflects a 47.5% premium to Sapiens' closing price last night on the Nasdaq • Formula's profit will be $775 million before tax
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