Ebix Completes Acquisition of Sydney Based Fintechnix
ATLANTA, June 13, 2012 (GLOBE NEWSWIRE) -- Ebix, Inc. (Nasdaq:EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance industry, today announced that the acquisition of Sydney based Fintechnix has been completed successfully.
At the closing, Ebix (EBIX) paid a total amount of AUD 5.25 million in cash for the acquisition. The acquisition is expected to be immediately accretive to Ebix Earnings per Share (EPS). No financial advisors were involved in the transaction from the Ebix side.
Founded in 1992, Sydney based Fintechnix is an Australian information technology company that has been delivering enterprise-wide innovation to the front and back office operations of financial services companies in Australia. The Company's integrated service offerings are available through specialist modules for life insurance, superannuation, wealth management and investments. For more information, visit the Company's website at http://www.fintechnix.com.au/
A division of Ebix, Inc., EbixExchange is the premier On-Demand Software Exchange that offers products and services that automate, expedite, and improve the process for the life insurance, annuity, property & casualty, and health insurance industries. Seen as a leading developer of electronic Straight Through Processing, EbixExchange currently supports a broad range of insurance agencies, brokerage and clearing firms, and operations centers at over 100 of the leading insurance carriers and their affiliates. EbixExchange products include WinFlex (multi-carrier compliant illustrations), VitalSales Suite (research/quotes/forms), AnnuityNet (annuity order-entry), LifeSpeed (advanced application processing), EbixHealth (employee benefits and claims) and various P&C exchanges across the world. For more information, please visit http://www.ebixexchange.com
About Ebix, Inc.
A leading international supplier of On-Demand software and E-commerce services to the insurance industry, Ebix, Inc., (Nasdaq:EBIX) provides end-to-end solutions ranging from infrastructure exchanges, carrier systems, agency systems and BPO services to custom software development for all entities involved in the insurance industry.
With 30+ offices across Brazil, Singapore, Australia, the US, New Zealand, India and Canada, Ebix powers multiple exchanges across the world in the field of life, annuity, health and property & casualty insurance while conducting in excess of $100 billion in insurance premiums on its platforms. Through its various SaaS-based software platforms, Ebix employs hundreds of insurance and technology professionals to provide products, support and consultancy to thousands of customers on six continents. Ebix's focus on quality has enabled it to be awarded Level 5 status of the Carnegie Mellon Software Engineering Institute's Capability Maturity Model (CMM). With a recent ISO 27001-security certification, the Company also has a ISO 9001:2000 certification for both its development and BPO units in India. For more information, visit the Company's website at www.ebix.com
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Source: Ebix, Inc. 2012 GlobeNewswire, Inc.