August 12, 2014 | According to a report in “The Marker,” Formula Systems, an Israeli technological holding company, is set to sell its 48 percent share in Sapiens to Francisco Partners at $10 a share, totaling $460 million for acquisition of the company. The price offered up by Formula Systems for Sapiens is nearly 30 percent higher than the current market value of the company, $350 million. Sapiens, headed by Roni Al-Dor, is an internationally and publicly traded company on NASDAQ and TA100 headquartered in Israel and specializing in computer software solutions for the insurance industry. Francisco Partners specializes in investing and turning high tech companies around within 5 years after acquiring them, with offices in San Francisco and London.
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