"Sapiens has implemented a growth strategy that incorporates acquisitions to accelerate our business," Roni Al-Dor, president and CEO at Sapiens, said in a statement. (Photo: Sapiens International Corporation)
Sapiens International Corporation, a provider of software solutions for the insurance industry, acquired sum.cumo, a Germany-based technology provider that offers consumer-centric solutions mainly to the insurance to the insurance sector, for up to €28.4 million (approximately $31.6 million USD).
The acquisition will enable Sapiens to expand its footprint by offering Sapiens's complete product and services portfolio in the DACH region (Germany, Switzerland and Austria), alongside sum.cumo's offerings. Sapiens will continue to invest in and support sum.cumo's offerings and enhance Sapiens's digital offerings worldwide via sum.cumo's solutions and expertise.
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Denny Jacob
Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].
