Sapiens Acquires Maximum Processing (Stingray)

Created by Administrator 08 Jun 2016 @ 11:15
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Holon, Israel – June 7, 2016 – Sapiens International Corporation, (NASDAQ and TASE: SPNS), a leading global provider of software solutions for the insurance industry, with a growing presence in the financial services sector, announced today that it has entered into a definitive agreement for the acquisition of Maximum Processing, Inc., the software provider of the Stingray System, a property and casualty (P&C) insurance administration suite targeted towards the tier 4-5 U.S. market, as well as managing general agents (MGAs), third-party administrators (TPAs) and insurance brokers. The transaction is expected to close by the end of June 2016.

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