Sapiens announces 5-year maintenance renewal

Sapiens International Corp., (NASDAQ: SPNS) said it has announced the renewal of maintenance and services agreement with one of its technology clients for additional five years, with a contract valued at USD2m.

Sapiens International Corporation N.V. provides software solutions for the insurance industry primarily in North America, the United Kingdom, Europe, Israel, and the Asia Pacific. The company offers solutions for the property and casualty (P&C)/general insurance, as well as life, annuities, pension and retirement (L&P) products. The company was founded in 1982 and is headquartered in Rehovot, Israel. As of January 27, 2012, Sapiens International Corporation N.V. operates as a subsidiary of Formula Systems (1985) Ltd. The company´s website is at http://www.sapiens.com.

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