Sapiens International Corporation, a global provider of software solutions for the re/insurance industry, has announced the completion of its acquisition of sum.cumo.
sum.cumo is a German-based technology provider that offers digital solutions mainly to the insurance sector.
The acquisition is expected to enable Sapiens to expand its footprint by offering its complete product and services portfolio in the Germany, Austria and Switzerland (DACH) region, alongside sum.cumo’s offerings.
Following the deal, Sapiens will continue to invest in and support sum.cumo’s offerings, while enhancing its own digital offerings.
All necessary regulatory approvals related to the transaction have already been received, including from Germany’s antitrust authority.