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Sapiens, IDIT and FIS Sign Definitive Agreement to Merge; Merged Company to Become a Major Global Insurance Solutions Provider

Israel July 21, 2011

 

  • $100 million
  • Merged company to have 70+ insurance customers  worldwide
  • Merged company well positioned to win core-system replacements in the insurance industry
  • Merged company to become one of few vendors that offer comprehensive proven solution suites for Life & Annuity, Property & Casualty and Reinsurance, globally

Sapiens FIS Software IDIT I.D.I. Technologies

http://www.newscom.com/cgi-bin/prnh/20100811/HS49090LOGO

$100 million

North America Europe Asia Pacific Europe Australia Asia Pacific

Catherine Stagg-Macy

Chad Hersh

Roni Al-Dor

"The transaction with FIS and IDIT is another key milestone in our strategy,  which  we expect to get us to  $100 million of revenues in 2012 and lead us to growth with stronger product offerings and a larger customer base in this rapidly evolving market," Mr. Al-Dor concluded.

Yoel Amir

Shay Alon

$6.75 million

About Sapiens International

North America United Kingdom Asia Pacific

Matters set forth in this release that are forward-looking statements are dependent on certain risks and uncertainties, including such factors, among others, as market acceptance, market demand, pricing, changing regulatory environment, changing economic conditions, risks in new product and service development, the effect of accounting policies, specific system configurations and software needs of individual customers and other risk factors.

Investor Contact

Roni Giladi

[email protected]

Media Contact

Osnat Segev-Harel

[email protected]

SOURCE Sapiens International Corporation N.V

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