Key Developments For Ebix, Inc.
Ebix, Inc. (EBIX.O) (Nasdaq)
Ebix, Inc. Acquires E-Z Data, Inc. For $50.35 Million
Ebix, Inc. announced that it has acquired California-based E-Z Data, Inc. effective as of October 01, 2009. The signing of the binding agreement and the closing of the transaction was completed. Under terms of the agreement, the Company has acquired all of the outstanding capital stock of E-Z Data for an aggregate purchase price of $50,350,000 payable as follows; $25,350,000 paid in cash at closing, and $25,000,000 payable in 496,328 shares of the common stock of the Company issued at the time of closing.
Ebix, Inc. Acquires Peak Performance Solutions
Ebix, Inc. announced that it has acquired Ohio-based Peak Performance Solutions, Inc. effective October 1, 2009. The signing of the binding agreement and the closing of the transaction was completed immediately. The acquisition is expected to be accretive to Ebix Earnings per Share (EPS) in the near and long-term future. The deal will involve an upfront cash payment of $8 million to Peak shareholders plus a potential earn-out cash payment of up to $1.5 million, paid after a period of 1 year from the date of acquisition provided that specific revenue targets are achieved. Ebix funded the acquisition with internal sources using its own cash reserves. No shares of Ebix's capital stock were issued as a part of the deal, thus resulting in no share dilution to Ebix's existing shareholders. No financial advisors were involved in the transaction from the Ebix side.
UNIFI Companies Selects Ebix, Inc.'s WinFlex Compliant Illustration Platform
EbixExchange USA, a division of Ebix, Inc., announced that UNIFI Companies will provide the WinFlex illustration system to producers affiliated with its life insurance distribution network, Ameritas Life, Acacia Life and Union Central Life. The illustration system will provide UNIFI Companies with increased exposure to the brokerage and independent insurance market while enabling WinFlex users to create new efficiencies in their sales process.
Ebix, Inc. Acquires Miami-Based Facts Services, Inc.
Ebix, Inc. announced that it has acquired Facts Services, Inc. effective the May 1, 2009. The signing of the binding agreement and the closing of the transaction was completed May 19, 2009. The Company intends to combine this acquisition with its Pittsburgh based division, under the EbixHealth name, with a view to providing the industry with an expanded roster of services in a seamless manner. The terms of the transaction were not disclosed.
Ebix, Inc. Purchases New Building
Ebix, Inc. announced that it has purchased a new building in Noida, India to support its continued growth and associated increased need for development and BPO needs. Terms of the deal were not disclosed.
