[August 22, 2011] Goldrock Israel sells IDIT I.D.I. Technologies to Sapiens Tweet Aug 22, 2011 (Datamonitor Financial Deals Tracker via COMTEX) -- Goldrock Israel Growth Fund has completed the sale of its stake in IDIT I.D.I. Technologies, Ltd., a provider of a full suite of a single end-to-end component-based integrated solution for the property and casualty market, to Sapiens International Corporation N.V., a provider of software solutions for the insurance industry. Both the companies are based in Israel. Goldrock Israel Growth Fund is a private equity fund managed by Goldrock Capital, a fund and asset management company. Update on July 21, 2011: Sapiens has signed a non-binding term sheet to acquire IDIT I.D.I. Technologies. Separately, Sapiens has signed a definitive agreement to acquire FIS Software, Ltd., a UK-based developer of enterprise level software solutions for life, pension and annuity providers. As consideration in the transaction, Sapiens will issue a total of 17.5 million common shares and warrants to purchase one million common shares, in addition to a payment of $6.75 million in cash. The transaction is anticipated to be completed within 45 days. Announcement (March 21, 2011): Goldrock Israel Growth Fund is planning to sell IDIT to Sapiens. Deal Type Private Equity Sub-Category Exit Deal Status Completed: 2011-08-22 Deal Participants Target (Company) IDIT I.D.I. Technologies, Ltd. Acquirer (Company) Sapiens International Corporation N.V. [ Back To TMCnet.com's Homepage ]