Sapiens International, a provider of software solutions for the insurance industry, has signed a definitive agreement to acquire FIS Software Ltd. and IDIT I.D.I. Technologies Ltd., both providers of software solutions for the insurance industry.
The merged company expects to reach $100 million in revenues in 2012 and looks to expand its market reach and global presence with the addition of dozens of insurance customers and the enhancement of the portfolio of insurance software solutions.
FIS offers an enterprise level solution for life, pension and annuity providers, with a global client base across North America, Europe, and Asia Pacific. IDIT offers a full suite of a single end-to-end component-based integrated solution for the property & casualty market, with a focus on Europe, Australia and Asia Pacific.
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