[August 22, 2011] Consortium of investors sells FIS Software to Sapiens Tweet Aug 22, 2011 (Datamonitor Financial Deals Tracker via COMTEX) -- Consortium of investors, KCS Israel Private Equity Partners LP, Genesis Partners, Ltd. and Giza Venture Capital have completed the sale of its stake in FIS Software, Ltd., a UK-based developer of enterprise level software solutions for life, pension and annuity providers, to Sapiens International Corporation N.V. Sapiens is an Israel-based provider of software solutions for the insurance industry. Update on July 21, 2011: Sapiens International has signed a definitive agreement to acquire FIS Software. Separately, Sapiens has also signed a definitive agreement to acquire to acquire IDIT I.D.I. Technologies, Ltd., an Israel-based provider of a full suite of a single end-to-end component-based integrated solution for the property and casualty market. 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): Consortium of investors are planning to sell FIS Software to Sapiens. The consortium includes KCS Israel Private Equity Partners LP, Genesis Partners, Ltd. and Giza Venture Capital. Deal Type Private Equity Sub-Category Exit Deal Status Completed: 2011-08-22 Deal Participants Target (Company) FIS Software, LTD. Acquirer (Company) Sapiens International Corporation N.V. [ Back To TMCnet.com's Homepage ]