Software firm Sapiens to be acquired by Advent for $2.5 billion

Israeli software company Sapiens International said on Wednesday that it will be acquired by private equity firm Advent for $2.5 billion in cash.

Sapiens’ shareholders will receive $43.50 per share in cash, a premium of about 47.5 per cent over its last close of $29.50 on the Nasdaq on Tuesday.

Sapiens will become a privately held company after the deal is completed, the company said.

It offers software solutions to the insurance sector.