(Reuters) -Israeli software company Sapiens International said on Wednesday that it will be acquired by private equity firm Advent for $2.5 billion in cash.
Sapiens’ shareholders will receive $43.50 per share in cash, a premium of about 47.5% over its last close of $29.50 on the Nasdaq on Tuesday.
Sapiens will become a privately held company after the deal is completed, the company said.
It offers software solutions to the insurance sector.
(Reporting by Disha Mishra in Bengaluru; Editing by Nivedita Bhattacharjee and Sonia Cheema)
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