Sapiens International Corporation, an Israel-headquartered insurtech company, has agreed to acquire AdvantageGo, a commercial insurance software provider.
The acquisition, valued at $61.73m (NIS223.24m), is set to strengthen Sapiens’ proposition in the global property and casualty (P&C) insurance market, particularly in underwriting workbench solutions.
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Upon completion, which is anticipated in the coming weeks, Sapiens will fully own AdvantageGo.
This move is in line with Sapiens’ goal to expand its reach into the London Specialty Market and bolster its reinsurance market support.
AdvantageGo’s underwriting workbench will integrate with Sapiens P&C Platform, enhancing underwriting capabilities across Europe, the Middle East and Africa, Asia-Pacific (APAC) and North America for specialty and commercial lines.
Sapiens President and CEO Roni Al-Dor said: “Sapiens’ growth strategy includes targeted acquisitions that accelerate our business. The acquisition of AdvantageGo aligns with our mission, and expands our portfolio with complementary solutions, extends our global footprint and deepens our talent pool.
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By GlobalData“We are excited to welcome AdvantageGo’s team and loyal customers to Sapiens. We remain committed to investing in AdvantageGo’s products, ensuring continuity, innovation and long-term value for their customer base.”
AdvantageGo registered a £9m ($12.07m) loss and revenues of £15m in 2024.
Sapiens expects AdvantageGo to report “double-digit” growth in 2026 and be “accretive” to its profit from 2027.
AdvantageGo global business leader Ian Summers said: “Joining Sapiens means becoming part of a leading global product organisation that will amplify our capabilities and enhance our solutions, creating greater opportunities for our clients and team. We look forward to integrating our products into Sapiens Insurance Platform to deliver a seamless and powerful offering for the European and North American markets.”
Recently, Sapiens also signed an agreement to acquire Candela, an intelligent automation service provider to insurance operators in APAC.
