Sapiens Boosts Asian Presence with $22M Acquisition of Candela
In a significant development for the insurance technology sector, Sapiens International Corporation has announced its acquisition of Candela, a company specializing in intelligent automation solutions for blue-chip insurance clients in the Asia-Pacific (APAC) region. This strategic acquisition aims to enhance Sapiens’ offerings and strengthen its position in the rapidly growing APAC insurance market.
Details of the Acquisition
The acquisition is structured as a cash deal worth $22 million and is anticipated to close in the second quarter of 2025, pending customary closing conditions. Candela is currently part of the Singapore-based firm, Azentio.
Strategic Goals for Sapiens
This acquisition is a part of Sapiens’ strategy to:
- Enhance its life product portfolio
- Expand its regional footprint in the APAC insurance market
- Integrate Candela’s automation technology into Sapiens’ Insurance Platform and Policy Administration Systems for Life
About Sapiens International Corporation
Headquartered in Israel and publicly traded on NASDAQ and the Tel Aviv Stock Exchange, Sapiens delivers core software solutions and services to the insurance industry. Their offerings support digital transformation for insurers worldwide, catering to various markets including property and casualty, life, pension, and annuities.
Candela’s Expertise
Candela boasts nearly three decades of experience in the insurance sector, providing an end-to-end insurance automation platform and digital services to a clientele of 23 insurance companies primarily located in:
- Singapore
- Malaysia
- Thailand
- Hong Kong
- South Africa
With a team of over 100 professionals based mainly in Bangalore, India, Candela’s capabilities in Business Process Modelling (BPM) and Case Management are expected to complement Sapiens’ existing solutions.
Benefits of the Integration
The integration of Candela’s technology will facilitate standardized processes across external legacy systems, promising a more cohesive experience for agents, customers, and administrators.
Financial Impact and Future Outlook
In 2024, Candela reported a non-GAAP revenue of $8 million. Following the acquisition, which is projected to be accretive to profit from Q4 2025, Candela will operate as a wholly owned subsidiary of Sapiens.
Statements from Leadership
Sapiens CEO and President Roni Al-Dor expressed enthusiasm, stating, “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.”
Furthermore, Amitabh Poddar, Candela’s business head, noted, “Joining the Sapiens organization opens up a wealth of resources and a global network of relationships for our team and clients. We are committed to ensuring a smooth transition and maintaining uninterrupted service for all our clients.”
For more information on Sapiens International Corporation’s innovative solutions, visit their official website at Sapiens.
