December 23, 2016 / 1:19 PM / 10 months ago

BRIEF-Ebix acquires Rio De Janeiro based WDEV

Dec 23 (Reuters) - Ebix Inc :

* Under terms of agreement, Ebix’s Latin American subsidiary has acquired all of outstanding capital stock of WDEV

* Transaction to be immediately accretive for its shareholders.

* Ebix Inc - retained entire senior management team led by Guillermo Reid, founder and CEO of WDEV

* Ebix Inc says Ebix expects transaction to be immediately accretive for its shareholders

* Ebix Inc - funded purchase using its internal cash reserves, with no Ebix shares being issued

* Ebix acquires Rio De Janeiro based WDEV, to become the largest end-to-end insurance software services company in brazil Source text for Eikon: Further company coverage:

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