Following its $2.5 billion acquisition by private equity fund Advent, Israeli software company Sapiens is undergoing a sweeping transformation. Within ten days of the deal’s completion, the entire senior management was replaced, and the company plans to cut roughly 700–800 jobs—about 15% of its global workforce—in a restructuring aimed at focusing on profitable products and reducing services activity.
Sapiens, which employs 5,400 people worldwide, will shift its headquarters to London, with Advent-appointed executives taking key roles. Former Israeli leaders largely remain only in extended or newly defined customer-focused positions. Interim CEO Mike Ettling leads the transition, supported by a new CFO, Chief People Success Officer, and Chief Transformation Officer.
The move follows a high-premium acquisition and reflects Advent’s typical “100-day plan,” emphasizing operational efficiency, workforce consolidation, and global realignment. The company is accelerating its transition to cloud-based SaaS and exploring AI-driven solutions, aiming to become leaner, more agile, and innovation-focused while reshaping its organizational and geographical footprint.
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