Sapiens International (NASDAQ:SPNS) shares are trading higher Wednesday after Advent agreed to acquire the company in a $2.5 billion deal.
What To Know: Under the terms of the agreement, Sapiens shareholders will receive $43.50 per share in cash, a 64% premium to the company's undisturbed closing share price of $26.52 on Aug. 8. The deal has been unanimously approved by Sapiens' board of directors, and existing shareholder Formula Systems will retain a minority stake in the company.
