Sapiens wins 2 financial services contracts for NIS 80m

The financial services software developer won contracts with Clal Insurance and the UK's LV= Ltd.

Financial services software developer Sapiens International NV (Nasdaq: SPNS; TASE: SPNS) has announced two contracts worth NIS 80 million altogether.

One contract with Clal Insurance Enterprises Holdings Ltd. (TASE: CLIS), which selected Sapiens Life & Pensions software to manage its pensions portfolio, in a multimillion dollar deal.

The second contract is a follow-on deal with that LV= Ltd., the UK's largest friendly society and a leading financial mutual, with more than five million members, which renewed its maintenance and services contract with Sapiens for five years. The contract is worth $10.5 million (NIS 38 million).

Published by Globes [online], Israel business news - - on September 10, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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