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Monday May 5, 1:57 pm ET
Formula Systems Upgrades Sapiens International Stake To 49.8%
Dow Jones Business News
WASHINGTON -(Dow Jones)- Formula Systems (1985) Ltd. increased its stake in Sapiens International Corp. N.V. to 49.8%, according to an amended Schedule 13D filed Monday with the Securities and Exchange Commission (News - Websites).
Formula Systems, which beneficially owns 27,370,186 common shares, bought 565, 389 shares Feb. 18 to April 30 for $444,110.
The Israeli company researches, develops and markets application software.
-By Ben Siegel, Dow Jones Newswires; 202-628-7689
 
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