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Sapiens International (SPNS) delivers cutting-edge insurance software solutions powering digital transformation across global financial services. This centralized news resource provides investors and professionals with verified updates on company developments and industry leadership.
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Bookmark this page for continuous updates on SPNS' contributions to insurance technology. Visit regularly to monitor how Sapiens' SaaS solutions and low-code platforms drive efficiency in policy administration, claims processing, and risk management worldwide.
Sapiens International Corporation (SPNS) has announced its acquisition of Tia Technology, a vendor of digital software solutions for the insurance sector, for $78 million. The deal aims to enhance Sapiens' offerings in the Nordic markets, where Tia holds a strong customer base of nearly 70 clients. Tia’s revenue in 2019 was $30 million, with a 14% operational profit margin. The transaction is expected to be accretive from closing and provides Sapiens with deeper local expertise to drive growth in the region.
Sapiens International Corporation (NASDAQ: SPNS) reported strong financial results for Q3 2020, with revenues up 18.5% to $98.0 million, driven by strategic growth in Europe and North America. Gross profit rose by 20.4% to $44.2 million, reflecting a 45.1% gross margin. Operating income increased by 32.0% to $17.9 million, achieving an operating margin of 18.2%. Net income attributable to shareholders grew 32.0% to $13.7 million, resulting in an EPS of $0.27. The company raised its 2020 revenue guidance to $381-$383 million, showcasing resilience despite COVID-19.
Sapiens International Corporation (NASDAQ: SPNS) has launched IDIT Go, a pre-configured, cloud-native solution aimed at enabling general insurers to quickly implement new offerings. This platform enhances operational efficiencies, offers 24/7 accessibility, and supports rapid deployment within months. Key advantages include low-code architecture, customizable portals, and compatibility with Sapiens' insurtech ecosystem via open APIs. IDIT Go caters to various market needs and promotes digital transformation in the insurance sector, reflecting Sapiens' commitment to innovation and client support.
Sapiens Americas, a subsidiary of Sapiens International Corporation (NASDAQ: SPNS), has successfully implemented its PolicyPro solution at Harford Mutual Insurance Group in Maryland. This transition from a 25-year-old policy system enhances Harford Mutual's ability to quickly launch new insurance products and respond to consumer demands for digital experiences. The new platform facilitates policy management and integrates smoothly with third-party solutions, contributing to Harford Mutual's operational efficiency and competitiveness in the evolving insurance sector.
Sapiens International Corporation (NASDAQ: SPNS) will report its third-quarter financial results for the period ending September 30, 2020, on November 5, 2020. The management will host a conference call and webcast at 9:30 a.m. Eastern Time to review the results. Investors can participate by calling specific numbers or joining via the company's website. A replay will be available until November 14, 2020. Sapiens specializes in software solutions for the insurance industry, catering to various sectors with over 500 clients globally.
Sapiens International Corporation N.V. (Nasdaq: SPNS) has priced an underwritten public offering of 3,389,830 common shares at $29.50 each, closing expected on October 20, 2020. The underwriters also have a 30-day option to purchase an additional 508,474 shares. Proceeds from the offering will be used for general corporate purposes, including potential acquisitions or investments. The offering is registered under an effective shelf registration statement filed with the SEC on July 11, 2019.
Sapiens International Corporation N.V. (Nasdaq: SPNS) has announced a public offering of 3,389,830 common shares priced at $29.50 per share, with a 30-day underwriter option for an additional 508,474 shares. The offering is expected to close on October 20, 2020. Proceeds will be used for general corporate purposes, including potential acquisitions, though no specific agreements are in place. The offering is conducted under an effective shelf registration statement filed with the SEC.
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