Sapiens, an Israeli provider of software for the insurance sector, has recently acquired the Spanish company Cálculo, an insurance and technical support consultancy specialised in the same sector.
Software development is one of the most profitable activities today, and there are many markets where software has become a must-have product.
A clear example of this is the insurance sector, as evidenced by the movements they generate in corporate finance.
For example, Sapiens, which has just bought the Spanish company Cálculo. An operation carried out after a "relatively simple" decision, in the words of Roni Al-DorThe company's president and CEO of the software provider.
Calculation meets all the requirements of the growth strategy by procurement of Sapiens:
Moreover, its team of professionals is one of the most important in technology for the insurance sector in Spain.
Its expected revenue for 2019 is approximately 10M$, with profitability at break evenThe transaction is expected to be earnings accretive from the end of 2020.
Despite the buySapiens will continue to invest in and support the Spanish company's products, including the core e-Tica insurance system and other solutions for existing and new customers, while offering its products.
They, together with an important customer base that includes several blue chip companies, will help Sapiens continue its global expansion by penetrating the Iberian market.
This purchase is only the first step for the Israeli group to enter the Spanish and Portuguese market, something that the company sees as a long-term growth opportunity, although the main objective is long-term expansion in the Spanish market.
It will also offer the Calculus team and customers access to innovative technologies, a global network of relationships and extensive resources.
With a track record of more than 30 years, Sapiens is a leading global provider of software solutions for the insurance industrywith a growing presence in the financial services sector.
It offers solutions for the global general insurance, property and casualty, life, pensions, annuities and retirement markets, as well as business decision management software.
It was created in 1966 and is based in Madrid, with additional offices in Barcelona.
It is about a company that offers specialised IT solutions for insurance companies in the Spanish market, as well as sector-specific management products and consultancy services..
Calculation has 25 insurance clients, including blue chip companies, and an expert team of more than 150 professionals.
With this acquisition, it will be able to enhance its growth through access to new technology, contacts and resources.