Global software provider Sapiens International Corp. has signed a definitive agreement to acquire IBEXI Solutions Private Ltd., a business and technology solutions provider based in India.
The acquisition is expected to close in the second quarter of 2015.
IBEXI’s team of 180 insurance and technology professionals services 18 insurers in both the P/C and life, pension and annuities markets. IBEXI has been selling the Sapiens IDIT Software Suite for seven years and provides support for its customer base in the Asia Pacific.
Following the acquisition, IBEXI will manage the Sapiens Asia Pacific domain and will establish Sapiens as a regional center. Sapiens said the acquisition will enrich its product portfolio with IBEXI’s business intelligence and portal offerings as well as provide enhanced delivery capabilities.