Sapiens Gets $10M Cash Infusion

by WWW User — November 27, 2002

Formula Systems (Nasdaq: FORTY) is investing $10 million in Sapiens International (Nasdaq: SPNS).

In a deal announced Thursday, Formula will get more than 10 million shares of Sapiens stock at a discounted price of 83 cents a share. The transaction will close early in December, Sapiens said.