Sapiens has agreed to acquire StoneRiver for $102 million in a cash deal, the core systems companies announced today.
Sapiens says the driver of the buy was a desire for the Israel-based company to expand more into the U.S. StoneRiver brings 200 clients and 500 employees in its Denver office to Sapiens. Its StreamSuite targets higher-tier carriers compared to Sapiens' signature offering, Stingray. StoneRiver also works in the workers' compensation market, opening a new avenue for Sapiens, according to the companies.
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