Sapiens International Corporation N.V. (SPNS) entered a merger agreement on August 13, 2025, to be acquired by Advent in an all-cash deal valued at $2.5 billion.
Sapiens shareholders will receive $43.50 per common share in cash, representing a 47.46% premium over the stock’s last close.
Sapiens is a global provider of intelligent SaaS-based software solutions for the insurance and financial services industries, offering AI-driven platforms that support core, digital, reinsurance, compliance, and decision management needs for over 600 customers in more than 30 countries.
Advent is a private equity firm that partners with management teams to transform businesses, overseeing about $94 billion in assets under management.
Formula Systems (1985) Ltd., an existing Sapiens shareholder, will retain a minority stake in the company.
Advent has secured committed debt and equity financing to fund the transaction. Funds advised by Advent have agreed to invest a total of $1.3 billion in equity.
The deal is expected to close in the fourth quarter of 2025 or the first quarter of 2026.
William Blair served as financial advisor, with Latham & Watkins and Meitar Law Offices providing legal counsel to Sapiens. Citi acted as financial advisor to Advent, while Kirkland & Ellis and Herzog Fox Neeman served as its legal counsel.
Advent is acquiring Sapiens at 24.62 times its EBITDA.
For more in-depth details about this merger and acquisition, please visit the Deal Metrics page here:
Deal Metrics for the acquisition of Sapiens International Corporation N.V. (SPNS) by Advent
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Editor’s Note: Baranjot Kaur contributed to this article