Sapiens International Corporation N.V. (NASDAQ:SPNS) stock skyrocketed after it announced on Wednesday that it will be acquired by global private equity firm Advent in an all-cash transaction valued at approximately $2.

Sapiens International (SPNS) has entered into a definitive agreement to be acquired by Advent, a global private equity investor, for $43.50 per common share

Private-equity investor Advent will pay $43.50 a share for Sapiens in an all-cash deal that values that Israel-based company at around $2.5 billion. Sapiens stock finished trading Tuesday at $29.50, giving it a market capitalization of $1.65 billion.