The Holon-based Sapiens International Corporation, a global leader in providing intelligent SaaS-based software solutions to the insurance industry, announced on Wednesday that it had agreed to be acquired by Advent International, an American private equity investor, in an all-cash transaction valued at $2.5 billion.

“We are pleased to announce that we have entered into a definitive agreement to be acquired by Advent, a leading global private equity investor, for $43.50 per common share, in an all-cash transaction that values Sapiens at an equity value of approximately $2.5 billion,” Sapiens posted on LinkedIn.

It added, “Together, Sapiens and Advent will drive digital transformation in the insurance technology sector, leveraging our robust technology and Advent’s operational expertise to help unlock new solutions and enhance customer outcomes.”