Brief: Sapiens Acquires German-Based Insurtech Sum.Cumo To Expand Its Footprint In The Dach Region

Sapiens International NV

07/01/2020 14:11

Jan 7 (Reuters) - Sapiens International Corporation NV
 SPNS.O :
    * SAPIENS ACQUIRES GERMAN-BASED INSURTECH SUM.CUMO TO EXPAND
ITS
FOOTPRINT IN THE DACH REGION
    * HAS ACQUIRED SUM.CUMO FOR UP TO EUR 28.4 MILLION
    * SAPIENS INTERNATIONAL- DEAL WILL ENABLE SAPIENS TO EXPAND
ITS
FOOTPRINT BY OFFERING SAPIENS' COMPLETE PRODUCT AND SERVICES
PORTFOLIO IN DACH REGION
    * ACQUISITION WILL BE ACCRETIVE TO PROFIT STARTING FROM
SECOND
HALF OF 2020
    * SAPIENS INTERNATIONAL- SUM.CUMO IS EXPECTED TO REACH 2019
NON-GAAP REVENUES OF EUR 15 MILLION AND LOW SINGLE-DIGIT
PROFITABILITY

Source text for Eikon:  ID:nPn5pyzpma 
Further company coverage:  SPNS.O 

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