-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000930413-01-000620.txt : 20010315
<SEC-HEADER>0000930413-01-000620.hdr.sgml : 20010315
ACCESSION NUMBER:		0000930413-01-000620
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20010228
FILED AS OF DATE:		20010314

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SAPIENS INTERNATIONAL CORP N V
		CENTRAL INDEX KEY:			0000885740
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			P8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		
		SEC FILE NUMBER:	000-20181
		FILM NUMBER:		1567737

	BUSINESS ADDRESS:	
		STREET 1:		KAYA RICHARD J BEAUJON
		STREET 2:		WILLEMSTAD CURACAO NETHERLANDS
		CITY:			CURACAO NETHERLANDS
		STATE:			P8
		BUSINESS PHONE:		97289382777

	MAIL ADDRESS:	
		STREET 1:		P O BOX 2211
		STREET 2:		REHOVOT ISRAEL 76120
		CITY:			REHOVOT
		STATE:			L3
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>0001.txt
<DESCRIPTION>FORM 6-K
<TEXT>

                       SECURITIES AND EXCHANGE COMMISSION
                              Washington D.C. 20549



                                    FORM 6-K

                            REPORT OF FOREIGN ISSUER
                      PURSUANT TO RULE 13a-16 OR 15d-16 OF
                       THE SECURITIES EXCHANGE ACT OF 1934


                                FOR THE MONTH OF
                                  FEBRUARY 2001


                     SAPIENS INTERNATIONAL CORPORATION N.V.
                 (translation of registrant's name into English)


                              C/O LANDHUIS JOONCHI
                           KAYA RICHARD J. BEAUJON Z/N
                                  P.O. BOX 837
                                   WILLEMSTAD
                          CURACAO, NETHERLANDS ANTILLES
                                (599) (9) 7366277
                    (address of principal executive offices)


     [Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F]

                            Form 20-F X Form 40-F ___
                                     --


     [Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2 (b) under the Securities Exchange Act of
1934]

                                  Yes ___ No X
                                            ---


<PAGE>





                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.




                                  Sapiens International Corporation N.V.
                                               (Registrant)




Date: February 28, 2001                By: /s/ Steve Kronengold
                                           -----------------------------
                                               Steve Kronengold
                                               General Counsel


<PAGE>

[Logo omitted]


                                              FOR ADDITIONAL INFORMATION

                                                  Yitzhak Sharir
                                                  Chief Executive Officer
                                                  Sapiens International
                                                  Tel: +1-877-554-2426
                                                       +972-8-938-2905
                                                  E-mail: itzick.s@sapiens.com
                                                          --------------------


                SAPIENS SHAREHOLDERS APPROVE PRIVATE PLACEMENT OF
                                   $15 MILLION

IN PARALLEL, THE COMPANY CONTINUES TO STREAMLINE OPERATIONS TO REDUCE COSTS AND
                        ACHIEVE OPERATIONAL EFFICIENCIES


Research Triangle Park, NC-- February 26, 2001--Sapiens International
Corporation N.V. (NASDAQ: SPNS) today announceD that its shareholders have
approved the private placement of $15 million of convertible preferred shares
with Yarnfield International Limited, an affiliate of the Magnum Technologies
Fund, and Formula Systems (1985) Ltd. The transaction is scheduled to close on
February 28, 2001.

In addition to the funds from the private placement, the Company's principal
lenders, Bank Leumi and Bank Hapoalim, have agreed to extend the Company's
credit lines by an additional $10 million.

"The funding from the private placement and the extension of our credit
facilities give us the cash resources that we need to implement our recovery
plan," said Itzick Sharir, the Company's President and Chief Executive Officer.
"This is a critical vote of confidence in our future from investors and banking
institutions that have a deep understanding of our business. We remain confident
in our ability to restore the Company to profitability and future growth and we
thank our shareholders for their overwhelming support.

"We continue to take steps to streamline our operations and focus our energies
on our core strengths. These measures include the closing of our offices in
Australia and Brazil and the realignment of our offices in Spain and Germany. We
have also closed the New York and Chicago offices of our B2B subsidiary, eZoneX
Inc., and have dramatically reduced its operating costs while leaving open the
possibility of an investment by outside parties in eZoneX."


<PAGE>


                                                                          PAGE 2


ABOUT SAPIENS

Sapiens International (NASDAQ: SPNS) is a leading provider of large-scale,
customized, business-critical software solutions which are developed and
delivered in rapid time-to-market. Through its e-Business Integration,
Migration, Outsourcing and IT Services business lines, the Company enables its
customers to capitalize on their IT assets in the transition to e-business.
Sapiens' strategic solutions integrate its proven rapid application development
(RAD) methodology, efficient rule-based object technology, and extensive
consulting expertise. Applying proven technologies, including its flagship
eMerge(TM) offering, Sapiens ensures a rapid return-on-investment and
responsiveness to change. In addition, the Company provides its customers in the
insurance/finance and supply chain markets with field-tested, reusable, business
components, to expedite deployment of certain applications, as well as dedicated
practice groups, which provide business domain expertise.

Sapiens serves its growing customer base directly and through partnerships with
such industry leaders as Cap Gemini, CSC, IBM and KPMG. The Company's installed
base of customers includes 3M, Air France, Argos, Groupe Andre, Honda, IBM,
International Paper, Principal Financial, Prudential and Siemens Energy and
Automation and other multinational corporations.

You are invited to visit us on the World Wide Web at http://www.sapiens.com.

                                      # # #

Except for historical information contained herein, the matters set forth in
this release are forward-looking statements that are dependent on certain risks
and uncertainties, including such factors, among others, as market acceptance,
market demand, pricing, changing regulatory environment, changing economic
conditions, risks in new product and service development, the effect of the
company's accounting policies and other risk factors detailed in the Company's
SEC filings.






<PAGE>


[Logo omitted]



        FOR ADDITIONAL INFORMATION
        Yitzhak Sharir                   John W. Heilshorn, Jr./Jody Burfening
        Chief Executive Officer          Lippert/Heilshorn &
        Sapiens International            Associates Inc.
        Tel: +1-877-554-2426             Tel: +1-212- 838-3777
             +972-8-938-2905
        E-mail: itzick.s@sapiens.com     E-mail: john@lhai.com

                   PANASONIC UK AWARDS SAPIENS A SUPPLY CHAIN
                   MANAGEMENT PROJECT VALUED AT $2.75 MILLION

Research Triangle Park, NC-- February 20, 2001--Sapiens International
Corporation N.V. (NASDAQ: SPNS) today announced that Panasonic UK, a leading
supplier of electronic products, has selected the Sapiens eMerge solution as the
basis of further development and enhancement of their supply chain logistics
system known as PRIDE. This project broadens a seven-year IT relationship
between Panasonic UK and Sapiens, during which time the two companies jointly
developed the PRIDE application. The current development project is valued at
$2.75 million.

PRIDE, a mission-critical application, is an end-to-end supply chain solution
that enables Panasonic UK to manage and track each product from the initial
purchase order through delivery. A new customs management component to be added
to PRIDE will track Panasonic UK's compliance with customs regulations.

Commenting on this project, Mr. Mark Fraser, IT Director of Panasonic UK, said:
"We are delighted to be extending our long-term relationship with Sapiens,
through further development and enhancement of our PRIDE logistics system. We
have been very impressed with Sapiens' eMerge solution, and its domain expertise
in designing and developing supply chain solutions. The Sapiens team has
strongly supported us and we expect to see substantial business benefits from
this project."

Mr. Yair Spitzer, Vice President, Sapiens UK, added: "This significant project
for the further development of Panasonic UK's critical order fulfillment system
adds to our credentials as a global provider of e-business solutions, including
those that address critical supply chain needs. We look forward to the
continuation of our long, mutually beneficial relationship with Panasonic UK, as
we attract new customers worldwide, who are now facing the emerging e-business
challenge."





<PAGE>



ABOUT PANASONIC UK

Panasonic was established in the UK in 1972. Since then the company has grown
substantially and become a leading supplier of consumer, business and
communication electronics products. Its UK headquarters is located in Bracknell,
Berkshire and is supported by a Logistics Center in Northampton. Panasonic's
parent company, Matsushita Electric Industrial Co. Ltd., has also established
seven manufacturing plants in the UK, and the company now employs in total more
than 4,000 people in the UK.

ABOUT SAPIENS

Sapiens International (NASDAQ: SPNS) is a leading provider of large-scale,
customized, business-critical software solutions which are developed and
delivered in rapid time-to-market. Through its e-Business Integration,
Migration, Outsourcing and IT Services business lines, the Company enables its
customers to capitalize on their IT assets in the transition to e-business.
Sapiens' strategic solutions integrate its proven rapid application development
(RAD) methodology, efficient rule-based object technology, and extensive
consulting expertise. Applying proven technologies, including its flagship
eMerge(TM) offering, Sapiens ensures a rapid return-on-investment and
responsiveness to change. In addition, the Company provides its customers in the
insurance/finance and supply chain markets with field-tested, reusable, business
components, to expedite deployment of certain applications, as well as dedicated
practice groups, which provide business domain expertise.

Sapiens serves its growing customer base directly and through partnerships with
such industry leaders as Cap Gemini, CSC, IBM and KPMG. The Company's installed
base of customers includes 3M, Air France, Argos, Groupe Andre, Honda, IBM,
International Paper, Principal Financial, Prudential and Siemens Energy and
Automation and other multinational corporations.

You are invited to visit us on the World Wide Web at http://www.sapiens.com.

                                      # # #

Except for historical information contained herein, the matters set forth in
this release are forward-looking statements that are dependent on certain risks
and uncertainties, including such factors, among others, as market acceptance,
market demand, pricing, changing regulatory environment, changing economic
conditions, risks in new product and service development, the effect of the
company's accounting policies and other risk factors detailed in the Company's
SEC filings.


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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