Sapiens International Corporation (NASDAQ: SPNS) (TASE: SPNS), a Holon, Israel-based global provider of software solutions for the insurance industry, is to acquire Cálculo, a Madrid, Spain-based vendor of insurance consulting and managed services, and a core solution to the Spanish market.
The amount of the deal was not disclosed.
The acquisition’s primary goal was expansion into the Spanish market in the long term.
Sapiens will continue to invest in and support Calculo’s products, including the e-Tica core system and other solutions for existing and new customers, while offering Its products based on market segment (life & pension and property & casualty) and different tiers. Sapiens’ solutions will also be provided to Spanish global customers.
Led by Diogo Moraes Sunyer, CEO, Cálculo offers specialized IT solutions for insurance companies in the Spanish market, as well as technology management products and consulting services specific to the sector. The company possesses 25 insurance customers, including blue chip companies, and an expert team of over 150 employees.
Cálculo has additional offices in Barcelona.
Led by Roni Al-Dor, president and CEO, Sapiens offers digital software platforms, solutions and services for the property and casualty, life, pension and annuity, reinsurance, financial and compliance, workers’ compensation and financial markets.