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Sapiens, FIS and IDIT Complete Merger Transaction
Merged Company to Become a Major Global Insurance Solutions Provider
REHOVOT, Israel, August 22, 2011/PRNewswire-FirstCall/ --
Sapiens International (NASDAQ and TASE: SPNS), a global provider of
solutions for the insurance industry, today announced the completion of the
merger transaction with FIS Software Ltd. and IDIT I.D.I. Technologies Ltd,
both well-established solution providers for the insurance industry.
(Logo:
http://www.newscom.com/cgi-bin/prnh/20100811/hs49090logo )
"The initial indications coming from the market acknowledge the visible
synergies and business opportunities this combination creates," said Roni
Al-Dor, President and Chief Executive Officer, Sapiens International.
"The merger constitutes a major milestone in the execution of our growth
strategy. Bringing together the employees, products and customers of
Sapiens, IDIT and FIS establishes us as a leading enterprise-wide solution
provider for the insurance industry. We will now focus on achieving the many
potential synergies among the three businesses, in order to increase
benefits to our customers and value for our investors," Mr. Al-Dor
concluded.
ABOUT SAPIENS
Sapiens International Corporation (NASDAQ and TASE: SPNS) is a leading
global provider of innovative business solutions for the insurance industry,
helping to modernise business processes, to proactively define and provide
innovative new services and to respond quickly to changes in the industry.
Following the merger with FIS and IDIT, we offer end to end solutions for
the L&P, P&C and Reinsurance markets, with customers across the globe. We
jointly serve over 70 insurance customers, backed by a team of over 700
insurance experts. Coupled with our financial stability, we aim to become
the vendor of choice in the insurance software marketplace.
This release includes certain forward-looking statements, which are
dependent on certain risks and uncertainties, including such factors as
realization of integration plan between Sapiens, IDIT and FIS, 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. There is no
assurance that such forward looking statements will be materialized
following consummation of the transaction with FIS and IDIT Technologies.
For More Information:
Roni Giladi, CFO
Sapiens International
Tel: +972-8-938-2721
ir@sapiens.com
Photo:
http://www.newscom.com/cgi-bin/prnh/20100811/hs49090logo
Source: Sapiens International Corporation N.V.
.
Sapiens, FIS and IDIT Complete Merger Transaction
Merged Company to Become a Major Global Insurance Solutions Provider
REHOVOT, Israel, August 22, 2011/PRNewswire-FirstCall/ --
Sapiens International (NASDAQ and TASE: SPNS), a global provider of
solutions for the insurance industry, today announced the completion of the
merger transaction with FIS Software Ltd. and IDIT I.D.I. Technologies Ltd,
both well-established solution providers for the insurance industry.
(Logo:
http://www.newscom.com/cgi-bin/prnh/20100811/hs49090logo )
"The initial indications coming from the market acknowledge the visible
synergies and business opportunities this combination creates," said Roni
Al-Dor, President and Chief Executive Officer, Sapiens International.
"The merger constitutes a major milestone in the execution of our growth
strategy. Bringing together the employees, products and customers of
Sapiens, IDIT and FIS establishes us as a leading enterprise-wide solution
provider for the insurance industry. We will now focus on achieving the many
potential synergies among the three businesses, in order to increase
benefits to our customers and value for our investors," Mr. Al-Dor
concluded.
ABOUT SAPIENS
Sapiens International Corporation (NASDAQ and TASE: SPNS) is a leading
global provider of innovative business solutions for the insurance industry,
helping to modernise business processes, to proactively define and provide
innovative new services and to respond quickly to changes in the industry.
Following the merger with FIS and IDIT, we offer end to end solutions for
the L&P, P&C and Reinsurance markets, with customers across the globe. We
jointly serve over 70 insurance customers, backed by a team of over 700
insurance experts. Coupled with our financial stability, we aim to become
the vendor of choice in the insurance software marketplace.
This release includes certain forward-looking statements, which are
dependent on certain risks and uncertainties, including such factors as
realization of integration plan between Sapiens, IDIT and FIS, 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. There is no
assurance that such forward looking statements will be materialized
following consummation of the transaction with FIS and IDIT Technologies.
For More Information:
Roni Giladi, CFO
Sapiens International
Tel: +972-8-938-2721
ir@sapiens.com
Photo:
http://www.newscom.com/cgi-bin/prnh/20100811/hs49090logo
Source: Sapiens International Corporation N.V.
.