Sapiens International Corporation (NASDAQ:SPNS), a global leader in intelligent insurance software solutions, today announced a strategic move to enhance its life product portfolio and significantly expand its presence in the Asia-Pacific (APAC) region through the acquisition of Candela.
Candela is a leading intelligent automation company known for servicing blue-chip insurance clients primarily across APAC.
The acquisition is structured as a cash transaction with an aggregate consideration of $22 million and is expected to close during the second quarter of 2025, subject to customary closing conditions.
Upon completion, Candela will become a wholly owned subsidiary of Sapiens.
Candela offers an end-to-end insurance automation platform, complemented by a suite of digital services and solutions.
The company currently serves 23 customers in key markets including Singapore, Malaysia, Thailand, Hong Kong, and South Africa.