Sapiens International Corporation (NASDAQ: SPNS) (TASE: SPNS), a global provider of software solutions for the insurance industry, announced today that Germany’s antitrust authority has approved Sapiens’ acquisition of sum.cumo without restriction.
The amount of the deal was not disclosed.
All necessary regulatory approvals for the acquisition have now been received and the transaction is completed. sum.cumo is a Germany-based technology provider that offers digital, innovative and consumer-centric solutions mainly to the insurance sector.
The acquisition is expected to enable Sapiens to expand its footprint by offering Sapiens’ complete product and services portfolio in the DACH region, alongside sum.cumo’s offerings.
Sapiens will continue to invest in and support sum.cumo’s offerings, and enhance its digital offerings worldwide via sum.cumo’s solutions and expertise.