Sapiens International Corporation N.V., a global provider of SaaS-based software for the insurance industry, has agreed to be acquired by private equity giant Advent in a $2.5 billion all-cash deal. The agreement values Sapiens at $43.50 per share, a 64% premium over its undisturbed closing price of $26.52 on August 8, 2025.
Under the terms of the transaction, existing shareholder Formula Systems will retain a minority stake, continuing its long-standing involvement with the company. Once the deal closes, Sapiens’ shares will be delisted, and the company will operate as a privately held entity.
The acquisition is designed to accelerate Sapiens’ expansion in the global insurance technology market. Advent’s investment will focus on strengthening the company’s SaaS capabilities, advancing artificial intelligence tools, and broadening its reach into new geographies. Both firms expect the partnership to enhance Sapiens’ ability to deliver modern, scalable solutions to insurers navigating an increasingly digital and competitive environment.
Founded in 1982, Sapiens serves over 600 customers in more than 30 countries, offering core software for life, pension, annuities, property and casualty insurance, as well as reinsurance and compliance systems. In recent years, the company has invested heavily in cloud-based platforms and AI-driven analytics, positioning itself as a partner for carriers undergoing large-scale digital transformation.
Advent, which manages more than $94 billion in assets and has completed over 430 investments worldwide, sees the insurance technology sector as a high-growth area ripe for modernization. By leveraging its global network, operational expertise, and capital resources, Advent aims to accelerate Sapiens’ product innovation and improve the speed at which insurers can deploy next-generation solutions.
The transaction has been unanimously approved by Sapiens’ board of directors following a review by a special committee. Advent has secured both debt and equity financing to fund the acquisition, including a $1.3 billion equity commitment. Completion remains subject to shareholder and regulatory approvals, with closing expected in late 2025 or early 2026.
Financial advisors to the deal include William Blair for Sapiens and Citi for Advent. Legal counsel is being provided by Latham & Watkins LLP and Meitar Law Offices for Sapiens, and by Kirkland & Ellis LLP and Herzog Fox Neeman for Advent.
Sapiens will not host its scheduled second-quarter earnings call, but plans to release its Q2 2025 results via press release later today.
If completed, the acquisition will mark a significant step in the ongoing consolidation of the insurance technology market, giving Sapiens the flexibility and resources of private ownership while positioning it for faster innovation in a rapidly evolving sector.
