Sapiens Acquisition of StoneRiver

Transcription

1 Sapiens Acquisition of StoneRiver Presentation to Investors February 15, 2017

2 About StoneRiver U.S.-based StoneRiver is headquartered in Denver, Colorado and delivers a Click wide to edit range Master of value-oriented subtitle style technology solutions and services to insurance carriers, agents and broker-dealers 2016 non-gaap revenues approximately $80 million dollars Strong customer base 200 U.S. insurance customers 30+ years of client relations 2

3 About StoneRiver (Continued) StoneRiver s versatile product offering is comprised of a policy Click administration to edit Master suite, subtitle rating, style underwriting, illustrations, reinsurance and finance & compliance solutions for all major insurance business lines, across both property and casualty and life and annuities. Approximately 500 insurance professionals 3

4 StoneRiver Acquisition Benefits 4

5 The Benefits of the Acquisition 1. Significantly expands Sapiens presence in the North Click to edit Master subtitle style American insurance market Increases our customer base Expands our local insurance expert presence Strengthens our professional services capabilities and offerings 5

6 The Benefits of the Acquisition (Continued) 2. Position Sapiens as a dominant player in the U.S. P&C Click to market edit Master a subtitle strategic style priority for Sapiens Adding new offerings for the U.S. P&C market StreamSuite, a state of the art insurance suite, in addition to Sapiens Stingray Entering the workers compensation market (a new market for Sapiens) with StoneRiver s product (PowerSuite) Additional product offerings for reinsurance 6

7 The Benefits of the Acquisition (Continued) 3. Enhance our Life, Pension and Annuities product portfolio Click to edit Master subtitle style Adding StoneRiver standalone and complementary solutions illustration (LifePortraits), eapp (LifeApply) and underwriting (LifeSuite) to our Life portfolio 7

8 The Benefits of the Acquisition (Continued) 4. Scale Click to edit Master subtitle style Additional 200 U.S. insurance customers A team of 500+ insurance professionals The addition of StoneRiver will help us strengthen our position as a leading, innovative, global software solutions provider to the insurance market, with diverse product offering to all segments of the insurance industry with a newly fortified presence in the North American market. 8

9 StoneRiver Acquisition Financial Terms 9

10 Acquisition Financial Highlights StoneRiver Non-GAAP 2016 revenue was approximately $80 million Click Sapiens to edit will Master acquire subtitle StoneRiver style for $102 million in cash We will finance the StoneRiver acquisition with cash from internal resources and new bank debt Multiple of approximately 1.3x revenues StoneRiver is a profitable company and we expect this transaction to be accretive to earnings in the third quarter of

11 Sapiens Growth Strategy Sapiens growth strategy is a combination of organic growth Click to edit Master subtitle style and strategic M&A Our M&A growth strategy is centered on three key factors: Growing our customer base; expanding geographically and adding complementary solutions to our portfolio Sapiens completed 4 acquisitions in the past two years: KPI, IBEXI, Insseco and Maximum Processing 11

12 StoneRiver Acquisition The StoneRiver acquisition is aligned with our growth and M&A Click to edit Master subtitle style strategy: Enhances our presence in the U.S. insurance market Increases our customer base Adds complementary solutions to our portfolio Together, we will have over 2,500 insurance and technology domain experts, serving a diverse customer-base of over 400 insurance carriers worldwide. 12

13 Thank You Contact: Yaffa Cohen-Ifrah, CMO & Head of Corporate Communications Mobile: Phone: Website: