Sapiens, FIS and IDIT Complete Merger Transaction

Published: 09-Jun-2012 Merged Company to Become a Major Global Insurance Solutions Provider.

Rehovot, Israel, August 22, 2011 – Sapiens International (NASDAQ and TASE: SPNS), a global provider of solutions for the insurance industry, today announced the completion of the merger transaction with FIS Software Ltd. and IDIT I.D.I. Technologies Ltd, both well-established solution providers for the insurance industry.

“The merger constitutes a major milestone in the execution of our growth strategy. Bringing together the employees, products and customers of Sapiens, IDIT and FIS establishes us as a leading enterprise-wide solution provider for the insurance industry. We will now focus on achieving the many potential synergies among the three businesses, in order to increase benefits to our customers and value for our investors”, Mr. Al-Dor concluded.

See the full announcement here