Sapiens Worldwide, an insurance coverage software program supplier, is contemplating choices for its enterprise, which features a potential sale, reported Reuters, citing sources.
The insurtech firm has employed funding financial institution William Blair to evaluate curiosity from potential patrons, the sources stated.
Sapiens, which has a market worth of almost $2bn, could appeal to non-public fairness corporations, amongst different potential purchasers, it added.
This improvement comes after Sapiens briefly paused its sale plans as a consequence of regional conflicts final 12 months.
The sources indicated that the sale course of was revived a couple of weeks in the past.
Nevertheless, in addition they confused that the result is unsure and no deal has been finalised.
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Each Sapiens and William Blair avoided commenting on the matter.
With a presence in Tel Aviv and New York, Sapiens gives software program options to insurers in numerous sectors together with P&C, staff’ compensation and life insurance coverage.
The corporate has a workforce of greater than 5,000, working in additional than 30 nations and serving a shopper base exceeding 600.
Method Programs, an Israeli IT group managed by Asseco, has a 43% stake in Sapiens.
The expertise sector has seen a slowdown in take-private offers as a consequence of elevated rates of interest, which have made financing more difficult for personal fairness corporations.
Final month, Sapiens introduced plans to increase its operations in Canada.
The corporate stated it’s dedicated to enhancing its options and customer support to assist current purchasers and attain new prospects within the software-as-a-service area.
In February 2024, Sapiens shaped a strategic alliance with DataCrest, aiming to spice up operational efficiencies for P&C insurers.
The collaboration leverages DataCrest’s AppEase platform to drive progress throughout the P&C insurance coverage sector.
