Israel's Sapiens International to be acquired by Advent in $2.5B all-cash deal

[Acquisition highlighted in yellow on printed page.]
RapidEye

Sapiens International (NASDAQ:SPNS [https://seekingalpha.com/symbol/SPNS]) has entered into a definitive agreement to be acquired by Advent, a global private equity investor, for $43.50 per share in an all-cash deal that values the insurance software firm at an equity value of about $2.5 billion.

Existing Sapiens shareholder Formula Systems (1985) Ltd will retain a minority stake in the company.

"Following a deliberate process, the Board of Directors approved this transaction, which delivers an excellent outcome for Sapiens' shareholders, providing them a substantial cash value at an attractive premium," said Roni Al-Dor, Chief Executive Officer of Sapiens (NASDAQ:SPNS [https://seekingalpha.com/symbol/SPNS]).

Under the terms of the agreement, Sapiens shareholders will receive $43.50 per common share in cash, representing a premium of about 64% over Sapiens' undisturbed closing share price of $26.52 on August 8.

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