Sapiens and Flexi Software Enter Into Partnership Agreement

CARY, North Carolina, September 18 /PRNewswire-FirstCall/ -- Sapiens Americas Corporation, a subsidiary of Sapiens International Corporation N.V. (NASDAQ and TASE: SPNS) today announced that it will partner with Flexi Software, a provider of best-of-breed financial accounting software solutions, to offer extended capabilities to the Sapiens INSIGHT for Property & Casualty Insurance Suite.

Under the terms of the partnership, the companies will work together to integrate their products in order to offer their customers and prospects enhanced solutions that will help them automate and streamline their accounting and business processes.

"The partnership with Flexi makes sense for our customers," said Roni Al-Dor, Sapiens President and CEO. "The customer wins here because two best-of-breed vendors are teaming up to offer them the best possible products."

Stefan R. Bothe, CEO of Flexi Software, said, "We are pleased to welcome Sapiens as our most recent partner. Our other partners - McKesson, Fiserv, Unisys, and Jack Henry & Associates, to name a few - have seen much success through our partnership programs. I expect Sapiens will experience similar success. The partnership allows both of our companies to remain focused on what we do best - providing our own world-class solutions - while expanding and strengthening our reach."

About Sapiens International

Sapiens International Corporation N.V. (NASDAQ and TASE: SPNS), a member of Emblaze/Formula Group (LSE: BLZ.L) (NASDAQ: FORTY and TASE: FORT) is a leading global provider of proven IT solutions that modernize business processes and enable insurance organizations to adapt quickly to change. Sapiens' innovative solutions are widely recognized for their ability to cost-effectively align IT with the business demands for speed, flexibility and efficiency. Sapiens operates through its subsidiaries in North America, the United Kingdom, EMEA and Asia Pacific, and has partnerships with market leaders such as IBM and EDS. Sapiens' clients include AXA, ING Canada, Liverpool Victoria, Menora Mivtachim, Norwich Union, Occidental Fire & Casualty, OneBeacon, Principal Financial Group, Santam and Texas Farm Bureau among others. For more information, please visit http://www.sapiens.com .

About Flexi

Founded in 1991, Flexi develops, markets, and supports a suite of back-office accounting software solutions that help enterprises within the Banking, Insurance, and Financial Services industries streamline their accounting processes. Flexi's system integrates easily with other systems, and provides powerful and flexible accounting capabilities. The fully integrated suite includes modules for General Ledger, Accounts Payable, Accounts Receivable, Fixed Assets, Purchasing, and Projects. For information, visit http://www.flexi.com

About Flexi Partnership Programs

The Flexi Referral Partnership (FRP) program is designed for solution companies that target the Banking, Insurance, Financial Services, and Utilities industries and wish to increase their revenue by helping their customers find a mature, proven financial accounting solution - without needing the knowledge of how to sell, implement, or support the products. Flexi also offers the Flexi Industry Partnership (FIP) program, which provides vertical market software companies the ability to OEM Flexi's solutions and seamlessly integrate them with their solutions through Service-Oriented Architecture (SOA) using Web Services or COM+ technology, and private label Flexi's accounting suite under their own brand. For more information on Flexi's Partnership Programs, contact a Flexi representative at +1-239-298-5700, +1-800-427-7292, or info@flexi.com.

     For Additional Information:     Michael V. Vaccarello     Vice President     Sapiens Americas     +1-919-405-1507     usa@sapiens.com  

SOURCE Sapiens International Corporation

CONTACT: For Additional Information: Michael V. Vaccarello, Vice President, Sapiens Americas, +1-919-405-1507, usa@sapiens.com