Francisco Partners In Talks With Sapiens To Buy The FirmRaymond Billings (Author) Published Date : Aug 12, 2014 14:26 ET
Thinking to expand their business on the different sector the US private equity fund Francisco Partners is looking forward to buy the Israeli software firm Sapiens as they are in talks with the software company recently and if the deal took place it would take the value of the company to $450 million according to the reports of Israeli media.
According to a news website Formula Systems a technology holding company of Israel who has the stake of the Israeli software company already offered their 47.7 percent of stake from Sapiens to the US firm and it was learnt that they have asked for $10 per share and the premium of 30% on its closing price at the stock market Nasdaq.
But there are yet to be confirmed about the news from both Francisco Partners who were not available to make any comment and Formula Systems who was not willing to make any comment regarding this issue.
The software makers for the insurance companies Sapiens has the value of $358.6 million however it has been struggling since last year as their share price are down to 0.8 percent and the majority of its share price has been lost in the previous year.
It was also learnt that Francisco Partners and Formula have been in talks where Formula also had talks with another Israeli firm Alpha Group.
Francisco Partners In Talks With Sapiens To Buy The Firm