Sapiens International Corporation (NASDAQ and TASE: SPNS), a global leader in intelligent insurance software solutions, has announced its strategic acquisition of Candela, a leading intelligent automation company serving blue-chip insurance clients in the Asia-Pacific (APAC) region. This move aims to enhance Sapiens’ life product portfolio and expand its presence in the APAC market.
Acquisition Details
The acquisition, expected to close in the second quarter of 2025 subject to customary closing conditions, will see Sapiens acquire Candela for $22 million in cash. Candela, currently part of Azentio, a Singapore-based company, generated $8 million in non-GAAP revenues in 2024. The deal is anticipated to be accretive to Sapiens’ profit starting from the fourth quarter of 2025.
Enhancing Insurance Capabilities
Candela offers an end-to-end insurance automation platform along with digital services and solutions, boasting 23 customers primarily in Singapore, Malaysia, Thailand, Hong Kong, and South Africa. With over 100 employees mainly based in Bangalore, India, Candela brings nearly 30 years of deep industry expertise to the table. Its solutions are complementary to Sapiens’ Insurance Platform and Policy Administration Systems for Life, and will enhance Sapiens’ offerings through Business Process Modelling (BPM) and Case Management capabilities.
Strategic Benefits
The acquisition will enable Sapiens to implement standardized processes over external legacy solutions, ensuring a consistent and enhanced experience for agents, customers, and administrators. “I am pleased to welcome the Candela team and customers as part of our strategy to continue expanding our presence in the APAC region and enhancing our sophisticated life insurance platform,” said Roni Al-Dor, CEO and President at Sapiens. “We will continue to support Candela’s customers and products, increasing value across the entire insurance lifecycle and supporting insurers’ digital transformations.”
Future Prospects
Amitabh Poddar, Business Head at Candela, noted, “Joining the Sapiens organization opens up a wealth of resources and a global network of relationships for the Candela team and our clients. Integrating our intelligent automation solutions into Sapiens’ leading insurance software platform will enhance our capabilities and provide even greater value to our customers.” Upon completion, Candela will become wholly owned by Sapiens, marking a significant step in Sapiens’ growth strategy in the APAC region.
