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Sapiens International Corporation N.V., a member of theAsseco Group, signed a non-binding term sheet for a merger with the companies of FIS Software Ltd. and IDIT I.D.I. Technologies Ltd.The terms of the term sheet reflect an aggregate value of approximately USD 75 million for FIS Software and IDIT I.D.I. Technologies, which shall be paid in cash, Sapiens shares and options to purchase Sapiens shares. The completion of the transaction is subject to various conditions, including completion of due diligence, execution of definitive agreements and obtaining applicable corporate and third party approvals. The proposed transaction is intended to bring various synergies among the merging companies and to create complementary offerings.Subject to completion of the proposed transaction, the combined entity will strive to become a market leading provider of innovative software solutions for the insurance industry worldwide. We will offer a comprehensive product portfolio, supported by industry experts and a broad customer base, with a solid financial position – said Roni Al-Dor, President and Chief Executive Officer of Sapiens Int.Sapiens International Corporation N.V. is a global provider of software solutions for the insurance industry. The company operates through its subsidiaries in North America, the United Kingdom, EMEA (Europe, Middle East, Africa) and Asia Pacific. Sapiens' innovative solutions are widely recognized for their ability to cost-effectively align IT with business demands. Their flexibility helps modernize business processes and enables insurance organizations to adapt quickly to market change.FIS Software Ltd. offers a comprehensive enterprise level solution for Life, Pension and Annuity providers. The company has a global client base across the UK, Europe, Asia Pacific and North America.IDIT I.D.I. Technologies Ltd. offers a full suite of a single end-to-end component-based integrated solution for organizations specialized in the Property and Casualty insurances. The company focuses on the markets of Europe, UK, Australia and Asia Pacific.

In 2010 the Asseco Group achieved its record-breaking financial results. Sales revenues reached PLN 3.24 billion and they increased by 6% as compared with 2009. Operating profit improved 8% year on year and amounted to PLN 569 million. The Group generated a net profit of PLN 415.1 million, reflecting a growth of 11% from the year-ago earnings of PLN 373 million. Last year Asseco signed a number of prestigious contracts and finalized its largest foreign acquisition ever. Asseco Poland S.A. took over Formula Systems, an Israeli IT holding.The Asseco Group consistently pursues its strategy to boost financial results by promoting sales of its proprietary IT solutions. In 2010, sales of proprietary software and own services increased to PLN 2.07 billion and they accounted for 64% of the total turnover. Sales revenues were evenly distributed among our individual target sectors (banking and finance 34%, industrial enterprises 32%, and public administration 32%), which proves the Group's business is well diversified.Our organic growth and acquisitions help reinforce the Asseco's position among the leaders of the European information technology market. As the only Polish IT company, Asseco ranked in the TOP 10 of the largest producers of software in Europe.The year of 2010 was extremely important also in terms of new acquisitions. The Company completed the biggest foreign acquisition in its history. Near the year's end, Asseco Poland acquired the Israel's leading IT company, namely Formula Systems, listed on the Tel Aviv Stock Exchange as well as on the NASDAQ Global Market. Owing to this investment, the Asseco Group is present also outside Europe, among others in Israel, United States, Canada, and Japan. The acquisition of Formula Systems is the first milestone in building a truly global IT major called Asseco.Furthermore, Asseco Poland S.A. acquired Necomplus, a Spanish company specialized in solutions for POS terminals and call centers, with business operations across Spain and Portugal. Other companies of the Group consolidated their local IT markets as well. Asseco Central Europe took over the Hungarian GlobeNet engaged primarily in the production of software for the healthcare sector. Whereas, Asseco South Eastern Europe was joined by two Turkish companies, namely EST and ITD, which launched the Asseco Group operations in that market.Last year Asseco Poland S.A. was awarded many prestigious contracts. In October the Company concluded two 3-year agreements with the Polish Social Insurance Institution – the first for maintenance, and the second for modification and development of their Comprehensive Information System. Asseco Poland S.A. was chosen as one of the key IT suppliers for the Polish Telecom (TP) and PTK Centertel. The Company signed 3-year framework agreements under which it shall cooperate with the Polish Telecom Group in the areas of billing systems and business intelligence software. Another significant event was to sign a package of four agreements with Vattenfall AB of Sweden, whereby Asseco Poland S.A. became an important partner to the Vattenfall Group at the corporate level.Our plans for 2011 anticipate continued expansion of the Asseco Group. Asseco Poland S.A.is engaged in negotiations with several businesses in West Europe. Together with Formula Systems, the Company intends to boost its market position also in the United States and Israel. Regardless of our investment plans, Asseco is going to focus on the business where it has strong competitive advantage – the production of its own state-of-the-art IT solutions for the largest institutions in Europe and worldwide.

Specialists of the Building Automation and Data Center Division of Asseco Poland SA will install automatic regulation and control systems as well as teletechnical installations for the National Music Forum in Wrocław. This prestigious music lovers centre is going to be the pride of the city. Concurrently, it is among the Europe's largest cultural projects that have been approved by the European Commission.The National Music Forum in Wrocław is being built by the consortium of Mostostal Warszawa SA, Acciona Infraestructuras SA, Wrobis SA, and PHU IWA to a public procurement made by Wrocław Municipality, acting as the investor. This 300 million zloty project is financed from public and European funds. The installation work was assigned to Asseco Poland S.A. by the Consortium Leader, namely Mostostal Warszawa SA. The contract value exceeds PLN 4 million (net of VAT).In the opinion of the Ministry of Culture and National Heritage, the construction of the National Music Forum is a unique undertaking countrywide. Every stage of the project thrives on innovative solutions. The violin-shaped design was developed by Kuryłowicz & Associates Architecture Studio. The building is going to be maximally isolated from ground vibrations and street noise. The central concert hall, seating 1,800 persons, will feature the most modern acoustic solutions, making use of surrounding acoustic chambers and a suspended ceiling with independently movable elements. This will enable optimum adjustment of the hall to various kinds of music concerts.The task of Asseco Poland S.A. specialists is to deliver, install and set into operation the required teletechnical installations and systems for automatic regulation and control. Teletechnical installations ensure the building safety – this project will include the following systems: fire alarm, voice warning, access control, burglary and robbery signalization, de-smoking, as well as monitoring and internal television. Furthermore, Asseco Poland SA will supply and deploy a complete automatic ventilation system for the whole building, including the carbon monoxide (CO) detection in garages. The Company will also configure and launch the Building Management System, which means it will be integrated with all the teletechnical, electric and automation systems.
- Execution of work on prestigious buildings is always a kind of recognition to a contractor. After the Centennial Hall, it is the second time that our Building Automation and Data Center Division performs an extremely important project on a significant building in Wrocław. We do appreciate such references – says Tadeusz Kij, Director of the Building Automation and Data Center Division at Asseco Poland S.A.Our building automation specialists entered the construction site on 1 March 2011. The installation work is scheduled to be completed by 15 May 2011. Afterwards, we will have an additional month to carry out all the necessary tests and trials.The National Music Forum is set to open in the autumn of 2012.

Sapiens International, a NASDAQ and TASE listed company of the Asseco Group, a provider of innovative software solutions for insurance institutions, in 2010 generated sales revenues of USD 52.2 million, a 14% growth when compared to the prior year. Operating profit reached USD 6.7 million, this is 26% more than for 2009. Whereas, net profit improved by 46% and amounted to USD 6.2 million for the full 2010.In the fourth quarter of 2010 the company generated USD 14.7 million of sales revenues which increased by 25 % in comparison with the corresponding period last year. The fourth quarter operating profit reached USD 1.9 million and it improved by 28% when compared to the corresponding period of 2009. The company’s net profit for the fourth quarter of 2010 amounted to USD 1.7 million, beating the year-ago earnings by 36%.Such a growth in revenues and profits for 2010 was achieved owing to organic development of the company’s business worldwide. This was also contributed by the acquisition of Harcase, a provider of information solutions for the insurance industry, being one of the company’s most significant events during the previous year.- We are very proud of our achievements in 2010. We were, and continue to be, focused on development and growth of our company. This remains our key objective also for 2011 – commented Roni Al-Dor, President and CEO of Sapiens International Corporation.
– We expanded our investments in sales, marketing and Research & Development. As we enter 2011 we will continue to establish our leadership in the market. Recently we signed a major deal with one of the largest financial institutions in the US, and this is certainly expected to be reflected in our 2011 and 2012 results.Sapiens International Corporation is a global provider of software solutions for the insurance industry. The company is listed on TASE (Tel Aviv Stock Exchange) as well as the American NASDAQ Global Markets.

The Building Automation and Data Center Division of Asseco Poland won a prestigious contract. Our specialists were entrusted with setting up all the required electrical and teletechnical installations, ventilation and air-conditioning automation systems as well as Building Management Systems in the historic Centennial Hall in Wrocław. The contract value is PLN 8.9 million (net of VAT).
This project is a part of a larger investment called "The Centennial Hall in Wrocław – Center for Innovation in Architecture and Construction" executed under a public procurement contract where the General Contractor is Katowickie Przedsiębiorstwo Budownictwa Przemysłowego BUDUS SA, including reconstruction of the Centennial Hall interior. The tender was announced by Wrocławskie Przedsiębiorstwo Hala Ludowa Sp. z o.o. in Wrocław. Subsequently, under the tendering procedure, BUDUS SA chose the offer submitted by Asseco Poland SA to implement a portion of the contract.– Being entrusted with installation work in such a historic structure is undoubtedly a recognition. Nonetheless, we are aware of quite a large challenge ahead of us. We will use our best efforts and engineering expertise to carry out the project with no harm to the historical features of the hall. Because the investment is localized in the strict monument preservation zone, we will be in touch with the City Monuments Conservator – says Tadeusz Kij, Director of the Building Automation and Data Center Division at Asseco Poland SA.The Centennial Hall, also referred to as the People's Hall, is the most famous modernist building in Wrocław. The origin of both names is related to the proclamation To My People (An Mein Volk) made by King Frederick William III of Prussia in Wrocław in 1813, in which he called upon public resistance against Napoleon's occupation. To commemorate the 100th anniversary of that event, the hall hosted a special exhibition. The great Centennial Exhibition was staged on the grounds adjacent to Szczytnicki Park. The hall was designed by Wrocław city architect Max Berg as part of the competition for development of the exhibition area. Built at a cost of 1.9 million marks, the huge Centennial Hall was a pioneering structure both in terms of architecture and engineering – for the first time reinforced concrete was used on such a broad scale. In 2006 this landmark was listed as a UNESCO World Heritage Site.At present the Centennial Hall undergoes an intensive revitalization program which is co-financed from the EU funds. The building façade, windows and roof covering were all repaired last year. Now the time has come to reconstruct the interior. It is intended that the interior’s condition of 1913 is restored as fully as possible; however, at the same time, the hall will be equipped with state-of-the-art technologies so that it could serve miscellaneous functions.The installation work performed by Asseco Poland specialists in the Centennial Hall will last till the end of June 2011.

Asseco Poland S.A. concluded an agreement with Elbląg Municipal Office for supply and installation of information and communication technology equipment necessary for the completion of active elements of the project called "Building of Municipal Broadband Network in Elbląg". The contract value is PLN 27.2 million gross.
"This project confirms our strong position in the local administration market and I am convinced it is going to be a great starting point for further ICT infrastructure contracts to be implemented in cooperation with local governments. It fits well with our business strategy" – said Wojciech Woźniak, Vice President of the Management Board at Asseco Poland S.A.
This project is one of the initiatives undertaken by Elbląg local government with the aim to develop information society and improve the city's competitive position.
- Elbląg is a city that encourages modernity and innovation. I believe good telecommunication infrastructure will enhance our attractiveness for companies that are engaged in the implementation of modern technologies as well as for those exploring their business ideas. I can guarantee our town will give them a helping hand – said Grzegorz Nowaczyk, President of Elbląg.
The project will be executed in a consortium with the company Andra Sp. z o.o. The consortium leader is Asseco Poland SA which is going to perform over 90% of work under the project. Networking infrastructure to be deployed in Elbląg will be supplied by Cisco. These will include data processing and transmission equipment that will be installed in 3 master nodes, 20 distribution points, and 138 access points.- Broadband Internet has become 'the fourth medium of our civilization' which contributes to social and economic development of countries, towns and communities regardless of their size. The implementation of municipal broadband infrastructure in Elbląg will provide the city and its inhabitants with plenty of new opportunities and will enable its transformation towards more intelligent and coherent community. It is a model example of municipal networking that may be effectively duplicated in other Polish cities – said Piotr Skirski, Director of the Public Sector Department at Cisco.