23 January 03, 20:53

Sapiens wins two contracts worth total $20m

The larger of the two deals, worth $15 million, is a five-year contract with a large European company.

Will Sapiens International NV (Nasdaq: SPNS) return to profitability for the fourth quarter of 2002? We don't know the answer, but the company, which develops software primarily for the insurance industry, continues to secure large contracts. Sources inform "Globes" that Sapiens recently won two contracts worth a total of $20 million.

The first, with a large European company, is worth $15 million, and includes providing outsourced software services over 5 years. The second contract, worth several million dollars, includes the sale of a software license, consultancy, development, and training. This contract too is spread over several years.

Published by Globes [online] - www.globes.co.il - on January 23, 2003