November 17, 2017 / 12:45 PM / a month ago

BRIEF-Vara and Ebix form JV

Nov 17 (Reuters) - Ebix Inc:

* Vara and Ebix announce joint venture, to address it & BPO outsourcing in the financial & insurance sector in India

* Ebix says ‍its Indian subsidiary Ebix Software India Private Limited, Vara Technologies Private have entered into joint venture strategic partnership​

* Ebix Inc - Ebix agreed to infuse capital in Vara Tech’s subsidiary Vara United Private Limited through subscription of newly issued shares​

* Ebix - ‍Ebix has valued Vara’s enterprise value at approximately $46 million​

* Ebix - ‍new venture to be branded as Vara-Ebix, involves a capital infusion by Ebix​

* Ebix - expects transaction to be immediately accretive to its shareholders; co funding transaction in cash using cash reserves​ Source text for Eikon: Further company coverage:

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