Sapiens International Corp., a maker of insurance industry-specific software, has agreed to buy Poland-based Insseco for $9.1 million.

The final price tag could rise over the next five years depending on the achievement of revenue goals. Sapiens expects the transaction to be accretive to earnings in the third quarter of 2015 and beyond.

The transaction is expected to close by early August 2015.

Insseco is a software provider for the insurance market wholly owned by Asseco Poland S.A., the indirect controlling shareholder of Sapiens. With a team of 140 insurance professionals, Insseco has an established presence in the Polish insurance market and services major insurance customers that include top-tier insurance carriers. On a trailing 12-month basis, Insseco’s revenue was $11.5 million.

The acquisition expands Sapiens’ footprint in Europe, and the company plans to establish a regional delivery and development center in Poland to support its global operations.

Sapiens said it will continue to support Insseco’s customers while also introducing its leading software solutions into the Polish insurance market.

The acquisition of Insseco is the latest in Sapiens’ continued expansion of its global presence, customer base and delivery capabilities. In March, Sapiens acquired IBEXI Solutions, an India-based provider of insurance business and technology solutions in Asia Pacific.

Topics Mergers & Acquisitions Tech Pricing Trends New Markets Market