Sapiens International Corporation
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Holon Azrieli Center, headquarters of Sapiens
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| Public | |
| Traded as | NASDAQ: SPNS, : SPNS |
| Industry | Computer software |
| Founded | 1982 |
| Founder | Tsvi Misinai, Tuvi Orbach, Shai Sole |
| Headquarters | Holon, Israel |
| Services | Insurance solutions |
| Revenue |
 US$ 185.64 million (2015)
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US$ 24.35 million (2015)
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| Profit |
US$ 20.02 million (2015)
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| Total assets |
US$ 242.27 million (2015)
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Number of employees
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~1,500 |
| Parent | Formula Systems (1985) Ltd. |
| Subsidiaries |
Sapiens DECISION |
| Website | www |
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Footnotes / references |
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Sapiens DECISION
Sapiens International Corporation is a publicly traded company, headquartered in Israel, that develops computer software solutions for the insurance industry. Its shares are traded on the NASDAQ Capital Market and on the . As of July 2015, the company has 1,017 employees and a market cap of US$500 million.
Sapiens grew out of an initiative, dubbed DB1, undertaken by a group of scientists from the Weizmann Institute of Science during the 1970s to develop a novel object-oriented application generator for use with mainframe computers. One of the driving forces behind the initiative was Tsvi Misinai, a graduate of the Technion who in 1972 went on to spearhead the project. He teamed up with Shai Sole, Shmuel Timor and Eli Raban. By the late 1970s and early 1980s, the Weizmann team, partnered with a local Israeli company, AAA–Advanced Automated Applications (founded by Tuvi Orbach), began marketing DB1 to domestic large organizations . Subsequently, the company started marketing its product overseas. One of the company's first overseas clients was a UK based international infrastructure firm in 1986. In 1984 the Weizmann team established its own company, to be later merged with AAA, and joined by entrepreneurs Ron Zuckerman and Shaul Shani. The company severed itself from the Weizmann Institute and was incorporated under its new name—Sapiens.
By 1990, Sapiens had established a client base encompassing Israel, the United Kingdom, Switzerland, Canada, South Africa, Germany, and Venezuela. In 1990 Sapiens was registered as a public limited liability company in the Netherlands Antilles under the name Sapiens International Corporation N.V. In 1991 Sapiens Latin American Division entered the Brazilian market. In 1992 shares of Sapiens began trading on the NASDAQ exchange. The year 1993 is considered the company's peak, with 900 workers employed at 33 branches around the world and a market cap of US$340 million.
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