CARY, North Carolina, December 7 /PRNewswire-FirstCall/ -- Sapiens International Corporation N.V. , a member of the Formula Group , today announced that it has paid the third installment of the principal amount of the convertible debentures (Series A) of the Company, in the amount of approximately $3.7 million.
The Company's announcement follows its recently released financial results for the third quarter of 2008, which showed the Company's eight consecutive quarter of operational profit and first time of net income after several years of losses.
About Sapiens International
Sapiens International Corporation N.V. (Nasdaq and TASE: SPNS), a member of Formula Group , which is a member of the Emblaze Group is a leading global provider of proven IT solutions that modernize business processes and enable insurance organizations to adapt quickly to change. Sapiens' innovative solutions are widely recognized for their ability to cost-effectively align IT with the business demands for speed, flexibility and efficiency. Sapiens operates through its subsidiaries in North America, the United Kingdom, EMEA and Asia Pacific, and has partnerships with market leaders such as IBM and EDS. Sapiens' clients include AXA, ING, Liverpool Victoria, Menora Mivtachim, Norwich Union, Occidental Fire & Casualty, OneBeacon, Principal Financial Group, Santam and Texas Farm Bureau among others. For more information, please visit http://www.sapiens.com/.
Except for historical information contained herein, the matters set forth in this release are forward-looking statements that are dependent on certain risks and uncertainties, including such factors, among others, as market acceptance, market demand, pricing, changing regulatory environment, changing economic conditions, risks in new product and service development, the effect of the Company's accounting policies, specific system configurations and software needs of individual customers and other risk factors detailed in the Company's SEC filings.
For additional information:
Roni Giladi
Chief Financial Officer
Sapiens International
Tel: +972-8-938-2721
E-mail:
