<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of January 2000
Sapiens International Corporation N.V.
(translation of registrant's name into English)
c/o Landhuis Joonchi
Kaya Richard J. Beaujon z/n
P.O. Box 837
Willemstad
Curacao, Netherlands Antilles
(599) (9) 7366277
(address of principal executive offices)
[Indicate by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F]
Form 20-F X Form 40-F ___
[Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2 (b) under the Securities Exchange Act of
1934]
Yes ___ No X
<PAGE>
January 31, 2000
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
USA
Dear Sirs:
Enclosed please find the following press releases filed herewith under cover of
Form 6-K (one manually signed and seven conformed copies) for Sapiens
International Corporation N.V.
Sapiens Acquires Internet Marketing Associates, a Leading Internet Strategy
and Design Agency
Sapiens to Provide an e-Business Order Fulfillment System to Time Warner
Subsidiary
Sapiens International Announces Strategic e-Commerce Agreement
Sapiens Launches Partner Program
Delta Lloyd General Insurance Selects Sapiens for Euro Transition Project
Sapiens to Receive Pioneering Technology Award at World Economic Forum in
Davos, Switzerland
Cap Gemini and Sapiens Sign Euro Partnership Agreement
Air France and Sapiens Sign Master Euro Transition Project Contract
Sapiens International Announces Record Year-End Results and Strategic
B2B Initiative
These documents have been filed simultaneously with NASDAQ.
Respectfully,
/s/ Steve Kronengold
Steve Kronengold
General Counsel
<PAGE>
[LOGO]
FOR ADDITIONAL INFORMATION
Lauri Hanover John W. Heilshorn, Jr./Jody Burfening
Chief Financial Officer Lippert/Heilshorn &
Sapiens International Associates Inc.
Tel: +1-877-554-2426 Tel: +1-212-838-3777
+972-8-938-2701
E-mail: [email protected] E-mail: [email protected]
SAPIENS ACQUIRES INTERNET MARKETING ASSOCIATES, A LEADING
INTERNET STRATEGY AND DESIGN AGENCY
Research Triangle Park, NC--January 20, 2000--In a move to meet the rapidly
expanding demands for comprehensive e-business solution offerings, Sapiens
International Corporation N.V. (NASDAQ: SPNS) today announced its acquisition of
Internet Marketing Associates ("IMA"), a privately owned Internet consulting
firm, based in Canada.
In its commitment to deliver rapid, end-to-end, tailor-made solutions to its
client base, Sapiens International has been steadily expanding its competencies.
With the acquisition of Internet Marketing Associates, Sapiens aligns its
resources to provide competencies in all three fundamental e-business domains:
strategy, technology and design.
The acquisition combines the global solutions provider with an Internet design
and consulting company whose expertise includes information content and
architecture, Internet marketing, personalization and large-scale Web site
design. IMA has designed sites for large organizations including New Brunswick
Power, Peel District School Board, The Canadian Imperial Bank of Commerce, The
Globe and Mail, The Toronto Star and Thomas Cook Financial Services.
Commenting on the transaction, Mr. Randall Craig, President of IMA, said:
"Clients are demanding technical excellence and creativity, along with global
reach. We are pleased to now be part of the Sapiens solution, as their technical
strength provides the perfect compliment to our Internet marketing and design
expertise." He added: "We look forward to responding to the challenges faced by
companies who want to remain in the race."
"The skills of IMA complement what we have and support our commitment to deliver
end-to-end solutions," added Mr. Ron Zuckerman, Chief Executive Officer, Sapiens
International. "The demand for e-business solutions has skyrocketed and our
eMerge launch has been met with significant demand. IMA provides the methodology
and skills to replicate worldwide at a much faster pace."
<PAGE>
About Sapiens
Sapiens International (NASDAQ: SPNS) is a global e-business solutions provider.
Sapiens delivers strategic end-to-end solutions that enable customers to
capitalize on their IT assets in the transition to e-business. Sapiens' vertical
market frameworks, such as eMerge Loan and eMerge Insure, as well as
cross-industry offerings, such as eMerge and EuroMigration, apply new business
models and processes in the emerging, dynamic world of e-business and help
clients meet the challenges of euro migration and reengineering. Applying proven
technologies, Sapiens ensures fast time-to-market and responsiveness to change.
Sapiens serves its growing customer base directly and through partnerships with
such industry leaders as IBM and CA. The Company's installed base of customers
includes 3M, AGF/SI, Berlinische Leben, Greyhound Pioneer Australia, Honda, IBM,
International Paper, La Redoute, Principal Financial, Siemens Energy and
Automation and other multinational corporations.
You are invited to visit us on the World Wide Web at http://www.sapiens.com.
# # #
Except for historical information contained herein, the matters set forth in
this release are forward-looking statements that are dependent on certain risks
and uncertainties, including such factors, among others, as market acceptance,
market demand, pricing, changing regulatory environment, changing economic
conditions, risks in new product and service development, the effect of the
company's accounting policies and other risk factors detailed in the Company's
SEC filings.
<PAGE>
[LOGO]
FOR ADDITIONAL INFORMATION
Lauri Hanover John W. Heilshorn, Jr./Jody Burfening
Chief Financial Officer Lippert/Heilshorn &
Sapiens International Associates Inc.
Tel: +1-877-554-2426 Tel: +1-212- 838-3777
+972-8-938-2701
E-mail: [email protected] E-mail: [email protected]
SAPIENS TO PROVIDE AN E-BUSINESS ORDER FULFILLMENT SYSTEM TO
TIME WARNER SUBSIDIARY
Sapiens to Net $1.8 Million in Project with IBM
Research Triangle Park, NC--January 10, 2000--Sapiens International Corporation
N.V. (NASDAQ: SPNS), a global e-business solutions provider, today announced
that Sapiens Americas is working together with IBM to provide a comprehensive
order fulfillment system to Oxmoor House. Oxmoor House, a Time Warner
subsidiary, is a leading publisher of popular publications such as Southern
Living and Cooking Light cookbooks as well as Christmas with Southern Living.
Sapiens will develop the strategic order processing and inventory application,
which will cover key aspects of the supply chain. Sapiens will employ its highly
productive eMerge(TM) solution for this project, which will also enable bridging
with the existing IT environment. IBM Global Services conducted an extensive
evaluation process for Oxmoor House to determine that Sapiens' eMerge solution
would be an effective application for this project. IBM Global Services is now
in the process of implementing the solution for Oxmoor House.
Commenting on the project, Mr. Steve Adams, Vice President and General Manager
of the Oxmoor House Media Services division, said: "We chose Sapiens over other
leading suppliers after evaluating with IBM several competing solutions and
methodologies. We were most impressed by Sapiens' industrial strength solution,
e-business capabilities, scalability, open integration and their ability to meet
our objectives quickly."
According to IBM's Senior IT Architect, Mr. Atul Gupta, who served as a
consultant to Media Services throughout the evaluation process, "Sapiens has
demonstrated its ability to deliver comprehensive and robust solutions as well
as excellent collaborative skills with the customer."
Monica Wooden, Sapiens' Executive Vice President, Americas, added: "We are very
proud to have been awarded this project, which proves our ability to build
comprehensive supply chain solutions. Our eMerge solution enables customers to
differentiate themselves in the e-world marketplace through tailored
business-to-business and business-to-consumer processes."
Sapiens is a Premiere level member of IBM's worldwide PartnerWorld for
Developers program, which is designed to help commercial software developers
reach broader markets, lower their costs of doing business, and take their
products to market faster. The program is focused on leading-edge technologies
that enable developers to deliver complete e-business solutions to their
customers.
<PAGE>
About Sapiens
Sapiens International (NASDAQ: SPNS) is a global e-business solutions provider.
Sapiens delivers strategic end-to-end solutions that enable customers to
capitalize on their IT assets in the transition to e-business. Sapiens' vertical
market frameworks such as insurance and loans, as well as its cross-industry
offerings, such as eMerge and EuroMigration, apply new business models and
processes in the emerging, dynamic world of e-business and help clients meet the
challenges of euro migration and reengineering. Applying proven technologies,
Sapiens ensures fast time-to-market and responsiveness to change.
Sapiens serves its growing customer base directly and through partnerships with
leading global system integrators. The Company's installed base of customers
includes 3M, AGF/SI, Berlinische Leben, Greyhound Pioneer Australia, Honda, IBM,
International Paper, La Redoute, Principal Financial, Siemens Energy and
Automation and other multinational corporations.
You are invited to visit us on the World Wide Web at http://www.sapiens.com.
# # #
Except for historical information contained herein, the matters set forth in
this release are forward-looking statements that are dependent on certain risks
and uncertainties, including such factors, among others, as market acceptance,
market demand, pricing, changing regulatory environment, changing economic
conditions, risks in new product and service development, the effect of the
company's accounting policies and other risk factors detailed in the Company's
SEC filings.
<PAGE>
[LOGO]
FOR ADDITIONAL INFORMATION
Lauri Hanover John W. Heilshorn, Jr./Jody Burfening
Chief Financial Officer Lippert/Heilshorn &
Sapiens International Associates Inc.
Tel: + 1-877-554-2426 Tel: + 1-212-838-3777
+972-8-938-2701
E-mail: [email protected] E-mail: [email protected]
SAPIENS INTERNATIONAL ANNOUNCES STRATEGIC E-COMMERCE
AGREEMENT
Research Triangle Park, NC - January 27, 2000 - Sapiens International
Corporation N.V. (NASDAQ:SPNS) today announced that it has entered into a
strategic e-Commerce agreement with PurchasePro.com, Inc. (NASDAQ:PPRO), a
leading provider of Internet business-to-business electronic commerce services.
According to the terms of the agreement, Sapiens will provide two distinct but
related technology solutions that will support the efficient operation of
PurchasePro's e-Marketplaces, in which businesses buy and sell products and
services.
The first solution addresses the need to integrate the back-office systems of
PurchasePro's e-Marketplace customers and suppliers. As a preferred e-Business
solution vendor of PurchasePro throughout the United States, Sapiens will employ
its Sapiens eMerge solution to build seamless business-to-business networks.
The second solution, named Logistics CommerceHub, will provide logistical
support, such as shipment management, and transportation and logistics execution
management for e-Marketplace transactions. The added value of the integration
and logistics solutions--multiple supplier access, flexible procurement
processes, increased application speed, and faster order-fulfillment--will
result in significant time and cost savings for e-Marketplace customers and
suppliers.
Commenting on the partnership, Yuda Doron, Executive Vice President of Sales and
New Business Development said: "Our relationship with PurchasePro.com is
consistent with our strategy of forming alliances in which to showcase our
comprehensive solutions. Our eMerge solution actually enables the enterprise to
share information and commerce with customers and channels as if they were using
one, big, interconnected system. Enabling this integration involves both
technology and process solutions--an area in which we have considerable
expertise. I believe that by delivering this solution to the PurchasePro.com
network, we will increase our visibility and solidify our reputation as a
comprehensive solutions provider that deploys rapid, end-to-end, tailor-made
solutions--an important step towards reaching our objective."
In a parallel effort, Sapiens International and PurchasePro.com, Inc., will team
up in a joint endeavor to proliferate the B2B e-Commerce market concept and
technology worldwide. Our plan is to present the concept of a B2B e-Commerce
market to Sapiens' European customer-base. Sapiens and PurchasePro plan to
initiate a regional European e-Marketplace and to expand their presence
throughout Europe. Expanding into the global market will accelerate the benefits
of the network effect and continue building critical mass for PurchasePro.com's
e-Marketplaces.
<PAGE>
About Sapiens
Sapiens International (NASDAQ: SPNS) is a global e-business solutions provider.
Sapiens delivers strategic end-to-end solutions that enable customers to
capitalize on their IT assets in the transition to e-business. Sapiens' vertical
market frameworks, such as eMerge Loan and eMerge Insure, as well as its
cross-industry offerings, such as eMerge and EuroMigration, apply new business
models and processes in the emerging, dynamic world of e-business and help
clients meet the challenges of euro migration and reengineering. Applying proven
technologies, Sapiens ensures fast time-to-market and responsiveness to change.
Sapiens serves its growing customer base directly and through partnerships with
such industry leaders as IBM and CA. The Company's installed base of customers
includes 3M, Air France, Berlinische Leben, Greyhound Pioneer Australia, Honda,
IBM, International Paper, La Redoute, Principal Financial, Siemens Energy and
Automation and other multinational corporations.
You are invited to visit us on the World Wide Web at http://www.sapiens.com.
About PurchasePro.com
PurchasePro.com, Inc. (NASDAQ:PPRO) is a leading provider of Internet
business-to-business electronic commerce services. The company's e-commerce
solution is comprised of public and private "e-Marketplaces" where businesses
can buy and sell a wide range of products and services in an efficient,
competitive and cost-effective manner.
A key element of its strategy is to develop sales and marketing relationships.
These relationships include Office Depot, Inc., Advanstar Communications,
Primavera Systems, DigitalWork, Workflow Management, Zoomtown.com, the Greater
Phoenix Chamber of Commerce, and the American Association of Franchisees and
Dealers. The Company provides extensive support and training programs. For more
information, call toll free at 1-888/830-4600, or in Las Vegas at 702/316-7000.
You can also access PurchasePro.com, Inc. at its Web site,
http://www.purchasepro.com.
###
Except for historical information contained herein, the matters set forth in
this release are forward-looking statements that are dependent on certain risks
and uncertainties, including such factors, among others, as market acceptance,
market demand, pricing, changing regulatory environment, changing economic
conditions, risks in new product and service development, the effect of the
company's accounting policies and other risk factors detailed in the Company's
SEC filings.
<PAGE>
[LOGO]
FOR ADDITIONAL INFORMATION
Lauri Hanover John W. Heilshorn, Jr./Jody Burfening
Chief Financial Officer Lippert/Heilshorn &
Sapiens International Associates Inc.
Tel: + 1-877-554-2426 Tel: + 1-212-838-3777
+972-8-938-2701
E-mail: [email protected] E-mail: [email protected]
SAPIENS LAUNCHES PARTNER PROGRAM
Strategic Alliances Expand Expertise Across Multiple Competencies
Research Triangle Park, N.C--January 19, 2000--Sapiens International Corporation
N.V. (NASDAQ: SPNS), a global e-Business solutions provider, today announced the
launch of its Sapiens Partner Program ("SPP"). This program, which includes
strategic alliances with leading technology vendors, management consultants and
system integrators, as well as service providers, will enable the Company to
significantly expand its expertise across multiple competencies. The Sapiens
Partner Program offers two types of alliances: Sapiens e-Business Partner
Program (SeBiz) and Sapiens Euro Partner Program (SEPP).
SeBiz Alliances
The dynamic nature of e-business demands that e-sources provide a wide range of
competencies--from business consulting, marketing, Web graphics and design and
systems integration and implementation, to application frameworks, Internet
Application Integration ("IAI") and Enterprise Application Integration ("EAI")
technologies.
In the SeBiz alliance, Sapiens teams up with leading technical and professional
service providers, technology vendors and select e-Marketplaces to provide
superior services and products. SeBiz Partners will develop, promote and sell
their products and solutions in conjunction with Sapiens offerings, which
include back-office systems integration to the e-World.
SEPP Alliances
The SEPP alliance offers comprehensive business and technology solutions to
support companies on the path toward euro migration. By aligning Sapiens with
leading professional service providers and technology vendors, SEPP will
appreciably enhance Sapiens' offerings, which now support a large number of
European companies.
"We are proud to announce the launch of our Partnership Program," said Mr.
Abraham Menkes, Vice President for Strategic Alliances and e-Services at Sapiens
International. "This program will extend our offerings and solution portfolio,
enabling us to better address the business needs and challenges in today's
marketplace. We already have quite an impressive team of partners, but we will
continue to extend and broaden this team and deliver even greater value to our
customers."
<PAGE>
About Sapiens
Sapiens International (NASDAQ: SPNS) is a global e-business solutions provider.
Sapiens delivers strategic end-to-end solutions that enable customers to
capitalize on their IT assets in the transition to e-business. Sapiens' vertical
market frameworks, such as eMerge Loan and eMerge Insure, as well as
cross-industry offerings, such as eMerge and EuroMigration, apply new business
models and processes in the emerging, dynamic world of e-business and help
clients meet the challenges of euro migration and reengineering. Applying proven
technologies, Sapiens ensures fast time-to-market and responsiveness to change.
Sapiens serves its growing customer base directly and through partnerships with
such industry leaders as IBM and CA. The Company's installed base of customers
includes 3M, AGF/SI, Berlinische Leben, Greyhound Pioneer Australia, Honda, IBM,
International Paper, La Redoute, Principal Financial, Siemens Energy and
Automation and other multinational corporations.
You are invited to visit us on the World Wide Web at http://www.sapiens.com.
# # #
Except for historical information contained herein, the matters set forth in
this release are forward-looking statements that are dependent on certain risks
and uncertainties, including such factors, among others, as market acceptance,
market demand, pricing, changing regulatory environment, changing economic
conditions, risks in new product and service development, the effect of the
company's accounting policies and other risk factors detailed in the Company's
SEC filings.
<PAGE>
[LOGO]
FOR ADDITIONAL INFORMATION
Lauri Hanover John W. Heilshorn, Jr./Jody Burfening
Chief Financial Officer Lippert/Heilshorn &
Sapiens International Associates Inc.
Tel: +1-877-554-2426 Tel: +1-212- 838-3777
+972-8-938-2701
E-mail: [email protected] E-mail: [email protected]
DELTA LLOYD GENERAL INSURANCE SELECTS SAPIENS
FOR EURO TRANSITION PROJECT
Research Triangle Park, NC - January 3, 2000 - Sapiens International Corporation
N.V. (NASDAQ: SPNS), a global e-business solutions provider, today announced
that Delta Lloyd, a leading insurance company in the Netherlands, has chosen
Sapiens to implement a comprehensive euro conversion project, valued at several
million guilders. The Sapiens team has worked with Delta Lloyd on the business
planning as well as technical aspects of the euro project and will manage the
changeover of Delta Lloyd's mainframe IT systems to the single European
currency.
This project, which is scheduled for completion by January 2001, follows the
successful implementation of a pilot project. The various phases of the euro
transition project include the mapping of Delta Lloyd's system components into a
configuration repository, followed by the impact analysis and currency migration
of the system components. Sapiens will employ its EuroMigration(TM) solution and
will jointly manage the project at the customer's premises in the Netherlands.
Commenting on the project, Mr. Frans Klijn, Delta Lloyd's Euro Implementation
Manager, said: "We were very impressed with Sapiens' ability to implement an
efficient, comprehensive solution to the euro conversion challenge. The Sapiens
team understands our business needs and developed a comprehensive solution that
is both efficient and tailored to our needs."
Yaakov Sivan, Sapiens' Executive Vice President, Europe added: "We are delighted
with the confidence expressed by Delta Lloyd, a leader in the Dutch insurance
market. The Netherlands, with its strong presence in the financial services
industry, is an important market for Sapiens. We are committed to providing this
market with leading-edge solutions in the field of euro conversion and
e-business."
<PAGE>
About Sapiens
Sapiens International (NASDAQ: SPNS) is a global e-business solutions provider.
Sapiens delivers strategic end-to-end solutions that enable customers to
capitalize on their IT assets in the transition to e-business. Sapiens' vertical
market frameworks such as insurance and loans, as well as its cross-industry
offerings, such as eMerge and EuroMigration(TM), apply new business models and
processes in the emerging, dynamic world of e-business and help clients meet the
challenges of euro migration and reengineering. Applying proven technologies,
Sapiens ensures fast time-to-market and responsiveness to change.
Sapiens serves its growing customer base directly and through partnerships with
leading global system integrators. The Company's installed base of customers
includes 3M, AGF/SI, Berlinische Leben, Greyhound Pioneer Australia, Honda, IBM,
International Paper, La Redoute, Principal Financial, Siemens Energy and
Automation and other multinational corporations.
You are invited to visit us on the World Wide Web at http://www.sapiens.com.
# # #
Except for historical information contained herein, the matters set forth in
this release are forward-looking statements that are dependent on certain risks
and uncertainties, including such factors, among others, as market acceptance,
market demand, pricing, changing regulatory environment, changing economic
conditions, risks in new product and service development, the effect of the
company's accounting policies and other risk factors detailed in the Company's
SEC filings.
<PAGE>
[LOGO]
FOR ADDITIONAL INFORMATION
Lauri Hanover John W. Heilshorn, Jr./Jody Burfening
Chief Financial Officer Lippert/Heilshorn &
Sapiens International Associates Inc.
Tel: +1-877-554-2426 Tel: +1-212-838-3777
+972-8-938-2701
E-mail: [email protected] E-mail: [email protected]
SAPIENS TO RECEIVE PIONEERING TECHNOLOGY AWARD
AT WORLD ECONOMIC FORUM IN DAVOS, SWITZERLAND
Davos, Switzerland, 31 January 2000 - Sapiens International Corporation N.V.
(NASDAQ: SPNS), a global e-business solution provider, today announced that it
has been selected by the World Economic Forum and Deloitte Touche Tohmatsu to
receive a special award as one of the pioneering technology companies who are at
the forefront of the knowledge economy. This award will be presented at the
Forum's Annual Meeting 2000, which has been dedicated to promoting a greater
understanding of the central role technology plays in shaping today's society
and the global economy.
Ron Zuckerman, Sapiens International's Chairman of the Board, will accept the
award at the Forum's Annual Meeting in Davos. "We are delighted to be recognized
for our accomplishments globally by such an esteemed organization as the World
Economic Forum," said Zuckerman. "It is equally satisfying to be included in the
company of other award recipients such as Ariba Technologies, Citrix Systems,
Inc., Inktomi Corporation, Priceline.com, Inc., Red Hat Software and Siebel
Systems, Inc."
Professor Klaus Schwab, President and Founder of the World Economic Forum,
commented: "At a time of enormous technological change, it is important to bring
together companies that are shaping our future. It is key for us to work
together in engaging business in the global public interest. These companies
exemplify a new breed of corporate actors and we want to help strengthen this
community and incorporate it into our work."
Mr. Thomas Doorley, III, Senior Partner at Deloitte Touche Tohmatsu, added:
"These companies really will be the leaders of the future, and understanding
their success is crucial. All present have some interesting stories to tell and
valuable insights to share, and it is essential that the World Economic Forum is
behind this important initiative."
<PAGE>
About the World Economic Forum
The World Economic Forum (www.weforum.org) is an independent organization
committed to improving the state of the world. It serves its members and society
by creating the foremost global partnership of business, political, intellectual
and other leaders of society to define and discuss key issues on the global
agenda. Incorporated since 1971 as a foundation, the World Economic Forum is
independent, impartial and not-for-profit, tied to no political, partisan or
national interests. Deloitte Touche Tohmatsu is a Knowledge Partner of the World
Economic Forum.
About Sapiens
Sapiens International (www.sapiens.com) is a global e-business solutions
provider. Sapiens delivers strategic end-to-end solutions that enable customers
to capitalize on their IT assets in the transition to e-business. Sapiens'
vertical market frameworks, such as eMerge Loan and eMerge Insure, as well as
its cross-industry offerings, such as eMerge and EuroMigration, apply new
business models and processes in the emerging, dynamic world of e-business and
help clients meet the challenges of euro migration and reengineering. Applying
proven technologies, Sapiens ensures fast time-to-market and responsiveness to
change.
Sapiens serves its growing customer base directly and through partnerships with
such industry leaders as IBM and CA. The Company's installed base of customers
includes 3M, Air France, Greyhound Pioneer Australia, Honda, IBM, International
Paper, Principal Financial, La Redoute and Siemens Energy and Automation and
other multinational corporations.
# # #
Except for historical information contained herein, the matters set forth in
this release are forward-looking statements that are dependent on certain risks
and uncertainties, including such factors, among others, as market acceptance,
market demand, pricing, changing regulatory environment, changing economic
conditions, risks in new product and service development, the effect of the
company's accounting policies and other risk factors detailed in the Company's
SEC filings.
<PAGE>
[LOGO]
FOR ADDITIONAL INFORMATION
Florence Mairal Lauri Hanover
Group PR and Business Chief Financial Officer
Cap Gemini Group Sapiens International
Tel: +33 1 47 54 50 91 Tel: +1-877-554-2426
+972-8-938-2701
E-mail: [email protected] E-mail: [email protected]
John W. Heilshorn, Jr./Jody Burfening
Lippert/Heilshorn &
Associates Inc.
Tel: +1-212-838-3777
E-mail: [email protected]
CAP GEMINI AND SAPIENS SIGN EURO PARTNERSHIP AGREEMENT
Cap Gemini and Sapiens to jointly market Cap Gemini's Euro Transformation
Services and Sapiens' EuroMigration(TM) Solution throughout Europe
Paris, France and Research Triangle Park, N.C--January 31, 2000--Cap Gemini
(Paris Stock Exchange: CAPP.PA) and Sapiens International Corporation N.V.
(NASDAQ: SPNS) today announced that they have signed an agreement to jointly
market and implement Cap Gemini's euroTRANSFORMATION Services and Sapiens'
EuroMigration(TM) solution throughout Europe. The two companies will initially
focus their joint marketing efforts on their respective broad base of customers.
The combination of Cap Gemini's euroTRANSFORMATION Services with Sapiens'
EuroMigration(TM) solution creates powerful capabilities that span from
management consulting to functional as well as technical implementation of euro
conversion projects. The partnership's joint expertise will offer a
comprehensive suite of methodology, technologies and IT experience to address
virtually every system architecture, platform and programming language.
The euro transformation is an enterprise wide global project with an immovable
deadline. It involves functional changes, high volume of data conversion and
requires strong interdependency management.
Cap Gemini, one of the world's largest information technology providers, has
developed euroTRANSFORMATION Services, a comprehensive euro conversion approach
that combines world-renowned IT management and consulting capabilities.
euroTRANSFORMATION addresses the massive challenge faced by an organization's
need to implement a global euro conversion solution across multiple systems and
platforms. Cap Gemini is leading the EMU market with an early establishment of
EMU competencies and hundreds of EMU projects in a wide range of industries and
in many different countries.
Sapiens, a recognized leader in the euro conversion marketplace, offers
EuroMigration(TM), an end-to-end euro-conversion solution, which preserves
system-wide data integrity throughout the various phases of the euro conversion
lifecycle. Sapiens' EuroMigration(TM) solution includes the
Euro-Virtual-Machine(TM) (EVM), a unique wrapping technology which manages dual
currency without altering any source code, and its Euro-Configuration-Repository
(ECR), which serves as a global, operational platform designed to identify and
manage all enterprise IT components and data.
<PAGE>
Commenting on the Cap Gemini - Sapiens partnership, Mr. Eric Lutaud, General
Manager of Transnational Sales & Delivery at Cap Gemini, stated: "We are happy
to cooperate with Sapiens, which offers a comprehensive euro conversion solution
that has a proven track record. Sapiens' formidable euro conversion expertise
combined with Cap Gemini's global presence and strategic euro conversion
approach forms a highly competitive partnership in the marketplace."
Avi Menkes, Vice President for Strategic Alliances and e-Services at Sapiens
International, added: "We are delighted to join forces with Cap Gemini, which is
world-recognized for its global delivery capabilities and domain expertise. This
partnership greatly expands our project capabilities and market reach, which is
particularly important as many European organizations plan moves toward
e-business that coincide with their euro migration projects. Sapiens'
EuroMigration offering together with its eMerge e-business solution are the
springboards for a more efficient way to conduct business."
About Cap Gemini
The Cap Gemini Group is one of the leading European management consulting and IT
services groups. Designing and delivering strategic changes through ideas,
people and technology, the Group provides management consultancy (Gemini
Consulting) and systems design, integration and outsourcing (Cap Gemini's IT
services). With a workforce of 40,000 operating in Europe, the United States and
the Far East, the Group forecasts a 1999 revenue of over 28 billion francs (4.3
billion euros). The Group is among the world's largest information technology
providers. Cap Gemini can be reached at www.capgemini.com
About Sapiens
Sapiens International (NASDAQ: SPNS) is a global e-business solutions provider.
Sapiens delivers strategic end-to-end solutions that enable customers to
capitalize on their IT assets in the transition to e-business. Sapiens' vertical
market frameworks, such as eMerge Loan and eMerge Insure, as well as
cross-industry offerings, such as eMerge and EuroMigration, apply new business
models and processes in the emerging, dynamic world of e-business and help
clients meet the challenges of euro migration and reengineering. Applying proven
technologies, Sapiens ensures fast time-to-market and responsiveness to change.
Sapiens serves its growing customer base directly and through partnerships with
leading global system integrators. The Company's installed base of customers
includes 3M, Air France, Berlinische Leben, Greyhound Pioneer Australia, Honda,
IBM, International Paper, La Redoute, Principal Financial, Siemens Energy and
Automation and other multinational corporations. You are invited to visit us on
the World Wide Web at http://www.sapiens.com.
# # #
Except for historical information contained herein, the matters set forth in
this release are forward-looking statements that are dependent on certain risks
and uncertainties, including such factors, among others, as market acceptance,
market demand, pricing, changing regulatory environment, changing economic
conditions, risks in new product and service development, the effect of the
company's accounting policies and other risk factors detailed in the Company's
SEC filings.
<PAGE>
[LOGO]
FOR ADDITIONAL INFORMATION
Lauri Hanover John W. Heilshorn, Jr./Jody Burfening
Chief Financial Officer Lippert/Heilshorn &
Sapiens International Associates Inc.
Tel: +1-877-554-2426 Tel: +1-212- 838-3777
+972-8-938-2701
E-mail: [email protected] E-mail: [email protected]
SAPIENS INTERNATIONAL ANNOUNCES RECORD YEAR-END RESULTS AND
STRATEGIC B2B INITIATIVE
Company Reports Fourth Quarter EPS of $0.18, Excluding One-time Charge, On
Record Revenues
Dani Falk Appointed CEO; Ron Zuckerman to Continue as Chairman of the Board
Research Triangle Park, N.C.--January 27, 2000 --Sapiens International
Corporation N.V. (NASDAQ: SPNS), a global e-business solution provider, today
announced fourth quarter and audited results of operations for the year ended
December 31, 1999.
Revenues for the fourth quarter of 1999 increased by 15% to $24.8 million
compared with $21.6 million for the same period in 1998. Gross profit rose 10%
to $12.2 million from $11.1 million in the fourth quarter last year. Operating
income, excluding a $2 million restructuring charge related to the closure of
the Company's Y2K activities, was $3.4 million in the fourth quarter compared
with $3.5 million in the same period last year. Excluding the restructuring
charge, net income was $4.5 million or $0.18 per share on a diluted basis,
compared with $3.5 million, or $0.16 per share on a diluted basis, in the fourth
quarter of 1998. Net income, after the restructuring charge, was $2.5 million,
or $0.10 per share on a diluted basis.
Revenues for the year ended December 31, 1999 were $91.8 million, up 29% from
$71.0 million in 1998. Gross profit rose 26% in 1999 to $46.1 million from $36.7
million in the prior year. Operating income, before the restructuring charge,
was $13.2 million, up 37% from $9.6 million in 1998. Net income in 1999, before
the restructuring charge, increased 55% to $15.1 million, or $0.61 per share on
a diluted basis, compared with $9.7 million, or $0.43 per share on a diluted
basis, in 1998. Net income reported for the year, including the restructuring
charge, was $13.1 million or $0.53 per share on a diluted basis.
Commenting on the results, Ron Zuckerman, Chairman and Chief Executive Officer
said, "We are pleased with our continued growth and profitability in 1999
particularly in light of the significant investments made in the fourth quarter
related to our eMerge launch and B2B initiative.
"We are excited to announce our new B2B initiative in the world of
e-marketplaces. At the present time, many e-marketplaces do not provide all of
the critical procurement and order fulfillment functions of B2B transactions.
This is exactly what we intend to provide to e-marketplaces based on our
expertise in designing, developing and implementing large-scale solutions. More
specifically, we will provide e-marketplaces with the ability to seamlessly
integrate the IT systems of suppliers and vendors with their back-office systems
and a logistics hub for full logistical support. The PurchasePro strategic
agreement that was announced earlier this morning is a first step to achieving
our goal of becoming a leader in this dynamic industry.
<PAGE>
"Sapiens will be providing a comprehensive solution to the e-marketplaces to
enable them to better serve their customers. We plan to be an active player in
the growth of these e-marketplaces worldwide and our pricing model is expected
to include a transaction-based fee. Accordingly, we have adopted a new business
model for this initiative and we are forming a separate subsidiary to focus on
establishing our e-marketplace business. Yuda Doron, Executive Vice President,
Sales and Business Development, will lead this new effort.
"On the euro front, we successfully closed over $30 million in euro conversion
projects in 1999 with some of Europe's premier companies, including Air France,
Delta Lloyd, 3M, and Mutuelle du Mans. We are the recognized leader in the euro
conversion marketplace and our pipeline for 2000 looks promising.
"Our eMerge offering, launched in the fourth quarter, has already made a
successful debut, particularly in the U.S. market. We have signed a number of
eMerge projects - including on-line order fulfillment, insurance policy
management and loan application. We are very encouraged by eMerge's strong
start.
"It is also my pleasure to announce that Dani Falk, who has held the position of
President and Chief Operating Officer, will assume the role of Chief Executive
Officer effective March 31. I will remain in an active role as Chairman of the
Board and plan to concentrate on strategic direction, such as our B2B
initiative."
About Sapiens
Sapiens International is a global e-business solutions provider. Sapiens
delivers strategic end-to-end solutions that enable customers to capitalize on
their IT assets in the transition to e-business. Sapiens' vertical market
frameworks, such as eMerge Loan and eMerge Insure, as well as its cross-industry
offerings, such as eMerge and EuroMigration, apply new business models and
processes in the emerging, dynamic world of e-business and help clients meet the
challenges of euro migration and reengineering. Applying proven technologies,
Sapiens ensures fast time-to-market and responsiveness to change.
Sapiens serves its growing customer base directly and through partnerships with
such industry leaders as IBM and CA. The Company's installed base of customers
includes 3M, Air France, Greyhound Pioneer Australia, Honda, IBM, International
Paper, Principal Financial, La Redoute and Siemens Energy and Automation and
other multinational corporations.
You are invited to visit us on the World Wide Web at http://www.sapiens.com.
# # #
Except for historical information contained herein, the matters set forth in
this release are forward-looking statements that are dependent on certain risks
and uncertainties, including such factors, among others, as market acceptance,
market demand, pricing, changing regulatory environment, changing economic
conditions, risks in new product and service development, the effect of the
company's accounting policies and other risk factors detailed in the Company's
SEC filings.
<PAGE>
SAPIENS INTERNATIONAL CORPORATION N.V.
Condensed Consolidated Statements of Income
(U.S. Dollars in thousands, except per share amounts)
<TABLE>
<CAPTION>
For the three months ended For the year ended
--------------------------------- ------------------------------
12/31/99 12/31/98 12/31/99 12/31/98
--------------- ---------------- -------------- --------------
(Unaudited) (Unaudited) (Audited) (Audited)
<S> <C> <C> <C> <C>
Revenues
Products $14,172 $11,957 $47,390 $37,181
Consulting and other services 10,620 9,677 44,440 33,799
--------------- ---------------- -------------- --------------
Total revenues 24,792 21,634 91,830 70,980
--------------- ---------------- -------------- --------------
Cost of revenues
Products 4,484 3,973 16,354 12,690
Consulting and other services 8,128 6,578 29,333 21,611
--------------- ---------------- -------------- --------------
Total cost of revenues 12,612 10,551 45,687 34,301
--------------- ---------------- -------------- --------------
Gross Profit 12,180 11,083 46,143 36,679
Expenses
Research and development, net 1,281 1,137 5,021 4,112
Selling, general and administrative 7,214 6,355 27,017 22,711
Amortization of goodwill 289 89 863 210
Restructuring costs 2,019 0 2,019 0
--------------- ---------------- -------------- --------------
Operating Income 1,377 3,502 11,223 9,646
Financial income/(expenses), net (20) 159 412 457
Other income/(expenses), net (a) 1,098 (170) 1,433 (368)
--------------- ---------------- -------------- --------------
Net Income $2,455 $3,491 $13,068 $9,735
=============== ================ ============== ==============
Preferred stock dividend (b,c) (103) (112) (418) (645)
--------------- ---------------- -------------- --------------
Net income to common shareholders $2,352 $3,379 $12,650 $9,090
=============== ================ ============== ==============
Basic earnings per share $ 0.11 $ 0.17 $ 0.61 $ 0.48
=============== ================ ============== ==============
Diluted earnings per share $ 0.10 $ 0.16 $ 0.53 $ 0.43
=============== ================ ============== ==============
Weighted average shares used to compute:
Basic earnings per share 21,176 19,449 20,813 18,966
Diluted earnings per share 25,112 21,673 24,558 21,387
</TABLE>
Note a: Includes other expenses, taxes and minority interest
b: For the computation of basic earnings per share, net income is
reduced by dividends to preferred stockholders and by the discount to
the market price on the conversion to common stock given to preferred
stockholders
c: For the computation of diluted earnings per share in 1999, net
income is reduced by the preferred stock dividend when inclusion
would be antidilutive.
<PAGE>
SAPIENS INTERNATIONAL CORPORATION N.V.
Condensed Consolidated Balance Sheets
(U.S. Dollars in thousands)
<TABLE>
<CAPTION>
12/31/99 12/31/98
-------------- ---------------
(Audited) (Audited)
Assets
<S> <C> <C>
Cash $8,735 $20,222
Short-term investments 8,055 12,826
-------------- ---------------
16,790 33,048
Trade receivables 31,943 16,351
Other receivables and prepaid expenses 7,118 4,180
-------------- ---------------
Total current assets 55,851 53,579
-------------- ---------------
Property and equipment, net 5,207 5,068
Goodwill, net 10,056 3,077
Other assets 13,991 11,600
============== ===============
Total assets $85,105 $73,324
============== ===============
Liabilities and shareholders' equity
Short-term loans $3,590 $5,182
Current maturities of long-term debt (b) 67 8,835
Trade payables 3,495 3,092
Other liabilities and accrued expenses 15,988 12,401
Deferred revenue 2,392 3,041
-------------- ---------------
Total current liabilities 25,532 32,551
-------------- ---------------
Long-term debt and other liabilities 8,159 7,658
Shareholders' equity 51,414 33,115
============== ===============
Total liabilities and shareholders' equity $85,105 $73,324
============== ===============
</TABLE>
Note a: Certain prior year's amounts have been reclassified to conform with
current year presentation
b: At December 31, 1998 includes New Notes and related interest due
in the amount of $8,743.
###
<PAGE>
[LOGO]
FOR ADDITIONAL INFORMATION
Lauri Hanover John W. Heilshorn, Jr./Jody Burfening
Chief Financial Officer Lippert/Heilshorn &
Sapiens International Associates Inc.
Tel: +1-877-554-2426 Tel: +1-212- 838-3777
+972-8-938-2701
E-mail: [email protected] E-mail: [email protected]
AIR FRANCE AND SAPIENS SIGN MASTER EURO TRANSITION PROJECT
CONTRACT
Research Triangle Park, NC - January 26, 2000 - Sapiens International
Corporation N.V. (NASDAQ: SPNS) today announced that Air France has entered into
a master euro transition project agreement with Sapiens regarding the changeover
of Air France's IT systems to the single European currency. The master agreement
follows the successful implementation of a pilot project, in which Sapiens
addressed the full range of business as well as technical issues related to the
euro changeover.
According to the terms of the agreement, Sapiens shall provide a large variety
of euro conversion services on a department-by-department basis, beginning with
Air France's Commercial Department. The Sapiens team will work with Air France
on business as well as technical aspects of the project, including the
identification of Air France's business needs, the delineation of the scope of
the project and the planning, coordination and implementation of all functional
and technical aspects of the euro transition effort.
The various phases of the project include the mapping of the Air France
Commercial Department's system components into a configuration repository,
followed by the impact analysis and currency migration of the system components.
Sapiens will employ its EuroMigration(TM) solution, including the
Euro-Virtual-Machine(TM) and Euro Configuration Repository (ECR) technologies.
Sapiens will manage the project at the various customer sites with the
assistance of its international support facilities.
Commenting on the project, Mr. Patrice Chicheportiche, Air France Commercial
Department Manager, said: "We hope that this first purchase order is the start
of a broad, mutually productive relationship between Air France and Sapiens
concerning our transition to the euro. We are very impressed with the
technological capabilities of the Sapiens solution, including its potential
application to future development efforts, and the level of expertise
demonstrated by the Sapiens team."
Mr. Saadia Essoudri, Vice President, Sapiens France, added: "This project
presents an outstanding opportunity for us to service one of France's flagship
companies. We are committed to provide the very best of service to Air France's
Commercial Department and look forward to servicing the euro conversion needs of
the many subdivisions within Air France. As our solution lays the groundwork for
future development efforts unrelated to the euro, we look forward to the
opportunity to cooperate with Air France on future IT needs."
<PAGE>
About Sapiens
Sapiens International (NASDAQ: SPNS) is a global e-business solutions provider.
Sapiens delivers strategic end-to-end solutions that enable customers to
capitalize on their IT assets in the transition to e-business. Sapiens' vertical
market frameworks such as insurance and loans, as well as its cross-industry
offerings, such as eMerge and EuroMigration, apply new business models and
processes in the emerging, dynamic world of e-business and help clients meet the
challenges of euro migration and reengineering. Applying proven technologies,
Sapiens ensures fast time-to-market and responsiveness to change.
Sapiens serves its growing customer base directly and through partnerships with
such industry leaders as IBM and CA. The Company's installed base of customers
includes 3M, Berlinische Leben, Greyhound Pioneer Australia, Honda, IBM,
International Paper, La Redoute, Principal Financial, Siemens Energy and
Automation and other multinational corporations.
You are invited to visit us on the World Wide Web at http://www.sapiens.com.
# # #
Except for historical information contained herein, the matters set forth in
this release are forward-looking statements that are dependent on certain risks
and uncertainties, including such factors, among others, as market acceptance,
market demand, pricing, changing regulatory environment, changing economic
conditions, risks in new product and service development, the effect of the
company's accounting policies and other risk factors detailed in the Company's
SEC filings.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Sapiens International Corporation N.V.
Date: January 31, 2000 By: /s/ Steve Kronengold
--------------------------
Steve Kronengold
