Advent to acquire Israeli software firm Sapiens for $2.5 billion
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Israeli software company Sapiens International announced Wednesday that it will be acquired by private equity firm Advent in an all-cash deal worth $2.5 billion.
Sapiens' shareholders will receive $43.50 per share in cash, a premium of about 47.5% over its last close of $29.50 on the Nasdaq on Tuesday, News.Az reports, citing Reuters.
Sapiens will become a privately held company after the deal is completed, the company said.
It offers software solutions to the insurance sector.
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