We are advising the financing sources on the acquisition financing

Davis Polk is advising the initial lenders in connection with the debt financing to support the $2.5 billion take-private acquisition by Advent of Sapiens International Corporation N.V.

Sapiens is a global leader in intelligent insurance SaaS-based software solutions whose shares are listed on Nasdaq under the symbol “SPNS.” Existing Sapiens shareholder Formula Systems (1985) Ltd. will retain a minority stake in the Company.

Under the terms of the agreement, which has been unanimously approved by Sapiens’ Board of Directors, Sapiens’ shareholders will receive $43.50 per common share in cash, representing an equity value of approximately $2.5 billion. The transaction is expected to close in Q4 2025 or Q1 2026, subject to the satisfaction of customary closing conditions, including approval by Sapiens’ shareholders and receipt of regulatory approvals. Sapiens’ Board of Directors, acting upon the recommendation of a special committee of the Board of Directors, has unanimously approved the agreement and the transaction and resolved to recommend approval of the agreement and the transaction by Sapiens’ shareholders.

The Davis Polk finance team includes partners Luke McDougall and Scott M. Herrig, counsel Phil Anscombe, Charlotte Rice, Michael Taufner and Randall (Randy) Dorf and associates Ludovico Giannotti and Megha Mehrotra. The tax team includes partner Dominic Foulkes and counsel Freddie Schwier. Members of the Davis Polk team are based in the London and New York offices.

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