Sapiens International Corporation, a global provider of software solutions for the insurance industry, announced that Germany’s antitrust authority has approved Sapiens’ acquisition of sum.cumo without restriction.
All necessary regulatory approvals for the acquisition have now been received and the transaction is completed.
sum.cumo is a German-based technology provider that offers disruptive, digital, innovative and consumer-centric solutions mainly to the insurance sector. Announced on January 7, 2020, the acquisition is expected to enable Sapiens to expand its footprint by offering Sapiens’ complete product and services portfolio in the DACH region, alongside sum.cumo’s offerings. Sapiens will continue to invest in and support sum.cumo’s offerings, and enhance Sapiens’ digital offerings worldwide via sum.cumo’s solutions and expertise.
Sapiens International Corporation empowers insurers to succeed in an evolving industry. The company offers digital software platforms, solutions and services for the property and casualty, life, pension and annuity, reinsurance, financial and compliance, workers’ compensation and financial markets.
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