Clearsight Advises Azentio on the Divestiture of Candela to Sapiens

Clearsight Advisors, Inc. (“Clearsight”) is excited to announce a successful cross-border transaction in its Technology-Enabled Services practice. Clearsight served as the exclusive advisor to Azentio Software Private Limited (“Azentio”) on the divestiture of Candela Labs (“Candela” or the “Company”), to Sapiens International Corporation N.V. (“Sapiens”) (NASDAQ and TASE: SPNS).

Candela is an intelligent automation business improving efficiency and effectiveness. The Company primarily serves blue-chip insurance clients in the APAC region with its proprietary, end-to-end insurance automation platform offering customizable solutions across the value chain. From its Bangalore, India headquarters, Candela supports a powerful digital services team with insurance domain knowledge. By reducing costs and improving user experience to unseat costly, rigid, and slow, but highly customized legacy insurance systems, Candela amends the industry’s biggest pain points. Sapiens is a global leader in intelligent insurance software solutions across more than 30 countries. The addition of Candela will enhance Sapiens’ product portfolio, including Sapiens DigitalSuite and PAS, and support its strategy to expand in the APAC region.

Gaurav Kedia, Chief Financial Officer at Azentio, commented, “The Clearsight team were great partners to have by our side during this process. They understood our strategic vision, as well as the market appetite. Sapiens represents an exceptional future for Candela, providing strategic resources to fuel its continued expansion and innovation.”

Rishabh Mishra, Managing Director and Co-Head of Clearsight’s Digital, Data, and Cloud practice, noted, “It’s been our privilege to guide the Azentio and Candela teams through this transaction. Azentio is now singularly focused on delivering competitive software products to the general insurance industry, while Candela’s expertise will go on to bolster Sapiens’ existing offerings and broader APAC expansion with leading-edge automation tools.”

“Candela’s proprietary technology, established team, and unique market positioning with blue-chip clients commanded significant interest.” added Clearsight Managing Director Jim McCabe. “There is great strategic alignment between Candela and Sapiens on the combined potential for further growth in the APAC region. We are honored to have been a part of Candela’s story.”

The Clearsight deal team included Rishabh Mishra, Jim McCabe, Rhamy Belayachi, and Grace Bryant.