Kirkland Advises Advent on $2.5 Billion Acquisition of Sapiens International

Kirkland & Ellis advised global private equity firm Advent on the $2.5 billion acquisition of Sapiens International Corporation N.V. (NASDAQ and TASE: SPNS), a global leader in intelligent SaaS-based software solutions for the insurance industry. Existing Sapiens shareholder Formula Systems (1985) Ltd. will retain a minority stake in the Company.

Under the terms of the agreement, which has been unanimously approved by Sapiens' Board of Directors, Sapiens shareholders will receive $43.50 per common share in cash, representing an equity value of approximately $2.5 billion. The transaction is expected to close in Q4 2025 or Q1 2026, subject to the satisfaction of customary closing conditions, including approval by Sapiens’ shareholders and receipt of regulatory approvals. Sapiens’ Board of Directors, acting upon the recommendation of a special committee of the Board of Directors, has unanimously approved the agreement and the transaction and resolved to recommend approval of the agreement and the transaction by Sapiens’ shareholders.

Read the transaction press release

The Kirkland team includes corporate lawyers Will Boothby, Michael Chung, Eli Markham, Molly Kaleya and Hunter Johnson; debt finance lawyers Christopher Shield, Leon Daoud, Thomas Raftery, Emma Shi and Yi Wen Lee; and tax lawyers Jared Rusman, Sehj Vather and Mavnick Nerwal.