Software firm Sapiens to be acquired by Advent for $2.5 billion
Sapiens' shareholders will receive $43.50 per share in cash, a premium of about 47.5 per cent over its last close of $29.50 on the Nasdaq on Tuesday.
Sapiens will become a privately held company after the deal is completed, the company said.
It offers software solutions to the insurance sector.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Times
7 hours ago
- Business Times
US: S&P 500, Nasdaq drift to fresh records, extending rally
[NEW YORK] Wall Street stocks pushed higher on Wednesday, lifting the S&P 500 and Nasdaq to fresh records as markets extended a rally following data showing US inflation remains stable. Stocks are in 'full easing expectations mode,' said CFRA Research's Sam Stovall, who expects two Federal Reserve interest rate cuts later this year. The Dow Jones Industrial Average led major indices, winning 1.0 per cent to 44,922.27. The broad-based S&P 500 climbed 0.3 per cent to 6,466.58, while the tech-rich Nasdaq Composite Index added 0.1 per cent at 20,713.14. Stocks spent most of the day in positive territory, drifting higher after Tuesday's consumer price index report showed inflation held in July at 2.7 per cent year-over-year. The report reassured markets that President Donald Trump's aggressive campaign of tariffs has not significantly boosted consumer prices. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Stovall expects Thursday's wholesale inflation data to show increases, but 'we think investors will overlook' the shift, he said in a note. Among individual companies, artificial intelligence infrastructure company CoreWeave slumped more than 20 per cent despite reporting a more than tripling of quarterly revenue to US$1.2 billion and projecting higher than expected revenue growth. cited high interest costs due to CoreWeave's hefty debt load and said the company faces likely profitability pressures as it undertakes 'aggressive capacity expansion to meet surging AI-driven demand.' Brinker International rose 1.6 per cent as it reported profit and revenue growth behind higher sales at its Chili's restaurant chain. AFP
Straits Times
8 hours ago
- Straits Times
S&P 500, Nasdaq drift to fresh records, extending rally
Sign up now: Get ST's newsletters delivered to your inbox Traders working on the floor of the New York Stock Exchange, in New York City, on Aug 13. NEW YORK - Wall Street stocks pushed higher Aug 13, lifting the S&P 500 and Nasdaq to fresh records as markets extended a rally following data showing US inflation remains stable. Stocks are in 'full easing expectations mode,' said CFRA Research's Sam Stovall, who expects two Federal Reserve interest rate cuts later this year. The Dow Jones Industrial Average led major indices, winning 1 per cent to 44,922.27. The broad-based S&P 500 climbed 0.3 per cent to 6,466.58, while the tech-rich Nasdaq Composite Index added 0.1 per cent at 20,713.14. Stocks spent most of the day in positive territory, drifting higher after the Aug 12 consumer price index report showed inflation held in July at 2.7 per cent year-over-year. The report reassured markets that President Donald Trump's aggressive campaign of tariffs has not significantly boosted consumer prices. Mr Stovall expects Aug 14 wholesale inflation data to show increases, but 'we think investors will overlook' the shift, he said in a note. Top stories Swipe. Select. Stay informed. Singapore 2 dead after fire in Jalan Bukit Merah flat, about 60 evacuated Singapore TB screenings at two pre-schools after staff member diagnosed in July Singapore HSA seeks Kpod investigators to arrest abusers, conduct anti-trafficking ops Opinion The 30s are heavy: Understanding suicide among Singapore's young adults Singapore Lawyer who sent misleading letters to 22 doctors fails in bid to quash $18,000 penalty Business Haidilao to close Clarke Quay outlet on Aug 31; exit follows 3 earlier outlet closures Singapore Jail, caning for recalcitrant drug offender who assaulted 2 cops with stun device Singapore SG60: Many hands behind Singapore's success story Among individual companies, artificial intelligence infrastructure company CoreWeave slumped more than 20 per cent despite reporting a more than tripling of quarterly revenue to US$1.2 billion (S$1.5 billion) and projecting higher than expected revenue growth. cited high interest costs due to CoreWeave's hefty debt load and said the company faces likely profitability pressures as it undertakes 'aggressive capacity expansion to meet surging AI-driven demand.' Brinker International rose 1.6 per cent as it reported profit and revenue growth behind higher sales at its Chili's restaurant chain. AFP
CNA
15 hours ago
- CNA
India's Infosys to buy 75% stake in Telstra unit for $153 million
Indian IT services company Infosys said on Wednesday it would buy a 75 per cent stake in Versent Group, a unit of Australia's Telstra Group, for A$233.3 million ($153 million). ($1 = 1.5279 Australian dollars)
