Amid reports of a pick up in M&A activity expected this year came news today that Sapiens International Corp. N.V., a global provider of insurance software solutions, acquired Harcase Software, a provider of software solutions to the North American insurance industry. The acquisition merges Harcase’s RapidSure Policy Administration Solution for P&C carriers and Sapiens’ experience, expertise and proven track record in the insurance industry, the companies say. Harcase had recently merged with Octello, an enterprise software and professional services provider.
With the acquisition of Harcase, Sapiens has taken a step toward expanding its market share in the insurance software industry. Focusing on establishing a stronger footprint in the North American market, Sapiens says its goal is to become a global market leader, delivering high-quality insurance software solutions.
"We are very pleased to welcome the Harcase team that joins Sapiens today," said Roni Al-dor, CEO of Sapiens. "This is an important acquisition for Sapiens. This transaction is aligned with our long-term strategy in the insurance market to make Sapiens a household name and the vendor of choice among insurance carriers. We expect Harcase to provide us with the platform to strengthen our position in North America and in the property and casualty segment globally, and contribute to our revenue growth."
The combination of Sapiens' and Harcase's resources, products and experience will enable them to deliver a powerful value proposition to insurers, according to Dan Sobotincic, founder, president and CEO of Harcase, who will now head Sapiens P&C Insurance division. "I strongly believe that the synergies between the two organizations will significantly expand the market footprint for the RapidSure suite as well as the Sapiens name," he said. "We will continue our development efforts to remain at the technological forefront of the insurance software industry."
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