Sapiens International, a leader in insurance software, will be bought by Advent, a large private equity firm, for $43.50 per share in cash. This deal values Sapiens at about $2.5 billion. Formula Systems, a current shareholder, will keep a small stake in the company.
This partnership will enable Sapiens to innovate more quickly and reach a broader audience worldwide. With Advent’s experience and resources, Sapiens plans to improve its solutions and services in insurance technology.
Sapiens shareholders will receive $43.50 per share, representing approximately 64% more than the closing price on August 8, 2025. After the deal is finalized, Sapiens will become a private company, and its shares will no longer be traded publicly.
Advent has arranged the necessary funding for the purchase, with $1.3 billion committed in equity. The deal is expected to close in late 2025 or early 2026, depending on shareholder and regulatory approvals. Sapiens’ Board of Directors has approved the deal and recommends that shareholders do the same.
Advisors: William Blair is acting as financial advisor to Sapiens, and Latham & Watkins LLP and Meitar Law Offices are acting as legal counsel to Sapiens. Citi is acting as financial advisor to Advent, and Kirkland & Ellis LLP and Herzog Fox Neeman are acting as legal counsel to Advent.
KEY QUOTES:
“This transaction marks a significant milestone in Sapiens’ journey, reinforces the success of our strategy, our commitment to delivering exceptional value to our customers, and the strength of our global team. 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. We are excited to enter the next chapter for Sapiens in partnership with Advent to continue supporting insurance carriers with their entire transformation journey, delivering the product innovation and service excellence they expect from us. Sapiens remains fully committed to being a global leader in SaaS, digital, and AI-driven insurance software solutions across Life, Pension & Annuities and P&C markets.”
Roni Al-Dor, Chief Executive Officer of Sapiens
“We are delighted to partner with Sapiens to support its next phase of innovation. Insurers are increasingly turning to technology to help unlock growth and profitability, drive innovation and improve business resilience – with Sapiens a critical partner in enabling this for market leading insurers globally. We will work with the company to accelerate investment into technology innovation, AI, and customer centricity. This transaction comes at a critical time of market change, and we believe Sapiens will more effectively be able to navigate this in a private setting.”
Douglas Hallstrom, Director at Advent
“Formula will continue to retain ownership in Sapiens and is excited to partner with Advent to accelerate the transition to AI and SaaS, delivering the next generation of insurance solutions for our customers. This partnership builds on Formula’s longstanding commitment to innovation while bringing in Advent’s global expertise and resources. Customers can be assured that the trusted relationships, service quality, and industry leadership they have relied upon will remain, strengthened by a shared vision for driving the future of insurance technology”
Guy Bernstein, CEO at Formula
