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India

Ebix Inc (EBIX.OQ)

EBIX.OQ on NASDAQ Stock Exchange Global Select Market

47.50USD
18 Apr 2019
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Latest Key Developments (Source: Significant Developments)

Ebix Says Intends To Merge Yatra Online In Its Indian Ebixcash Subsidiary Set Up
Tuesday, 19 Mar 2019 

March 19 (Reuters) - Ebix Inc ::RIDING ON STRONG SALES MOMENTUM AND ITS PROVEN ACQUISITION STRATEGY, EBIXCASH INDIA OPERATIONS TARGET $600 MILLION IN QUARTERLY ANNUALIZED REVENUE BY Q4 2019.EBIX INC - OFFICIALLY ENGAGED WITH YATRA ONLINE, INC. TO COMMENCE ITS DUE DILIGENCE IMMEDIATELY.EBIX INC - INTENDS TO MERGE YATRA ONLINE IN ITS INDIAN EBIXCASH SUBSIDIARY SET UP.EBIX INC - ITS EBIXCASH OPERATION IS TARGETING QUARTERLY ANNUALIZED OPERATING INCOME OF $180 MILLION OR MORE BY Q4 OF 2019.EBIX INC - WORKING TOWARDS SIGNING AGREEMENT TO ACQUIRE YATRA ONLINE LATEST BY 15TH MAY 2019.  Full Article

Ebix Offers To Acquire India's Yatra Online for $7/share
Monday, 11 Mar 2019 

March 11 (Reuters) - Ebix Inc ::EBIX OFFERS TO ACQUIRE INDIA’S LARGEST CORPORATE TRAVEL EXCHANGE, YATRA ONLINE, INC..EBIX INC - PROPOSED DEAL FOR $7 PER SHARE ON A DEBT-FREE BASIS.EBIX INC - OFFER TO ACQUIRE 100% OF OUTSTANDING STOCK OF YATRA ONLINE FOR $7 PER SHARE ON A DEBT-FREE BASIS.EBIX INC - EBIX WOULD PAY FOR YATRA ONLINE AT ITS DISCRETION EITHER IN CASH OR BY ISSUING FREELY TRADEABLE EBIX STOCK..EBIX INC - OFFER CONTEMPLATES ASSUMPTION OF ALL YATRA ONLINE RECEIVABLES, CASH AND RESTRICTED CASH WORTH AT LEAST $25 MILLION AT TIME OF CLOSING.EBIX INC - WOULD PAY FOR YATRA ONLINE AT ITS DISCRETION EITHER IN CASH OR BY ISSUING FREELY TRADEABLE EBIX STOCK.EBIX INC - EBIX EXPECTS THAT COMBINATION OF TWO COMPANIES CAN GENERATE BETWEEN 25 TO 30 CENTS ACCRETION FOR SHAREHOLDERS OF COMBINED EBIX COMPANY.EBIX INC - IN CASE EBIX DECIDES TO PAY FOR ACQUISITION IN EBIX STOCK, THEN EBIX STOCK WILL CARRY A MINIMUM COLLAR VALUE OF $59 PER EBIX SHARE.EBIX INC - EBIX INTENDS TO MERGE YATRA ONLINE IN ITS INDIAN EBIXCASH SUBSIDIARY SET UP..EBIX-BELIEVES YATRA ONLINE CAN GENERATE REVENUE UPWARDS OF $150 MILLION/ YEAR WITH 30%+ OPERATING MARGINS ON POST-CLOSING BASIS, WITHIN 6 MONTHS OF ACQUISITION BY CO.EBIX-RESERVES RIGHT TO REDUCE OFFER AT DISCRETION IF IT DOES NOT RECEIVE A POSITIVE ENGAGEMENT RESPONSE FROM YATRA ONLINE BOARD IN TIMELY MANNER.EBIX-RESERVES RIGHT TO WITHDRAW THE OFFER, IF YATRA BOARD DECLINES TO ALLOW EBIX TO PROCEED WITH DUE DILIGENCE BY 5:00PM EST ON 18TH MARCH 2019..  Full Article

Ebix Announces Quarterly Annualized Revenue Goal Of 3 Quarters Of A Billion By Q4 2019
Tuesday, 5 Mar 2019 

March 5 (Reuters) - Ebix Inc ::EBIX ANNOUNCES ASPIRATIONAL QUARTERLY ANNUALIZED REVENUE GOAL OF THREE QUARTERS OF A BILLION BY Q4 2019.EBIX INC - TARGETING AN ASPIRATIONAL REVENUE GOAL OF $750 MILLION QUARTERLY ANNUALIZED REVENUE BY Q4 OF 2019.EBIX INC - PRESENTLY WORKING ON A FEW ACQUISITION TRANSACTIONS THAT CAN BE MATERIAL TO ITS RESULTS FOR 2019.  Full Article

Ebix Acquires India's Travel Technology Provider Zillious
Wednesday, 13 Feb 2019 

Feb 13 (Reuters) - Ebix Inc ::EBIX ACQUIRES INDIA’S LEADING NON-ALIGNED TRAVEL TECHNOLOGY PROVIDER ZILLIOUS.EBIX INC - EBIX IS FUNDING TRANSACTION IN CASH, USING ITS INTERNAL CASH RESERVES.EBIX INC - ACQUISITION IS EXPECTED TO BE ACCRETIVE TO EBIX EARNINGS IMMEDIATELY.EBIX - UNIT ACQUIRED 80 PCT CONTROLLING STAKE IN ZILLIOUS SOLUTIONS PRIVATE LIMITED.EBIX INC - INTENDS TO KEEP ZILLIOUS AS A NON-ALIGNED TECHNOLOGY PLATFORM.EBIX INC - EBIX HAS RETAINED BOTH PROMOTER FOUNDERS OF ZILLIOUS - HARSH AZAD AND ROHIT GADDI.  Full Article

Ebix Inc Says Unit Makes Open Offer To Buy 100 Pct Of Weizmann Forex
Tuesday, 12 Feb 2019 

Feb 12 (Reuters) - Ebix Inc ::UNIT, EBIXCASH MAKES OPEN OFFER TO COMPLETE 100 PERCENT ACQUISITION OF WEIZMANN FOREX.  Full Article

Ebix Inc - Third Party Firm Concluded Co Successfully Remediated Weakness In Internal Control In Income Taxes & Business Combinations As Of Dec 31, 2018
Tuesday, 5 Feb 2019 

Feb 5 (Reuters) - Ebix Inc ::RENOWNED NORTH AMERICAN FIRM (THAT SPECIALIZES IN ACCOUNTING INVESTIGATIONS AND COMPLIANCE) CONCLUDES THAT EBIX HAS REMEDIATED MATERIAL WEAKNESS.EBIX INC - CONCLUSIONS OF THIRD PARTY FIRM HAVE BEEN ACCEPTED BY COMPANY'S AUDIT COMMITTEE.EBIX - THIRD PARTY FIRM CONCLUDED CO SUCCESSFULLY REMEDIATED WEAKNESS IN INTERNAL CONTROL IN INCOME TAXES & BUSINESS COMBINATIONS AS OF DEC 31, 2018.  Full Article

Ebix Provides Business Update, Reviews International Expansion Plans
Friday, 11 Jan 2019 

Jan 11 (Reuters) - Ebix Inc ::EBIX PROVIDES BUSINESS UPDATE AND REVIEWS INTERNATIONAL EXPANSION PLANS.EBIX INC - EXPANSION PLANS IN MIDDLE EAST, ASEAN AND PACIFIC MARKETS IN NEAR TERM.EBIX INC - CONTINUES TO PURSUE PLANS FOR A PROSPECTIVE IPO FOR ITS EBIXCASH OPERATIONS IN INDIA AND ABROAD.EBIX INC - COMPANY COMPENSATION COMMITTEE ACCEPTED EBIX CEO ROBIN RAINA'S REQUEST TO FOREGO HIS CASH SALARY.EBIX INC - COMPANY ACCEPTED EBIX CEO ROBIN RAINA'S REQUEST ACCEPT EBIX STOCK FOR EQUIVALENT VALUE OF CASH SALARY EVERY MONTH.  Full Article

Ebix says to buy Essel Forex for about $8 mln
Friday, 4 Jan 2019 

Jan 4 (Reuters) - EBIX::WILL BE FUNDING ENTIRE TRANSACTION IN CASH, USING ITS INTERNAL CASH RESERVES.EBIXCASH ACQUIRES ESSEL FOREX LIMITED.PROPOSED DEAL FOR APPROXIMATELY $8 MILLION.EBIX EXPECTS ACQUISITION TO BE IMMEDIATELY ACCRETIVE TO ITS EARNINGS..EBIX BELIEVES ESSEL FOREX BUSINESS CAN GENERATE OPERATING MARGINS OF 40% OR MORE, ONCE FULLY INTEGRATED.ITS EBIXCASH WORLD MONEY LIMITED SUBSIDIARY IN INDIA ENTERED INTO AGREEMENT TO ACQUIRE 100% ASSETS OF INDIA BASED ESSEL FOREX LIMITED.  Full Article

Ebix Elects To Delay Split Of Its Common Stock
Friday, 21 Dec 2018 

Dec 21 (Reuters) - Ebix Inc ::EBIX ISSUES UPDATE ON SHARE RE-PURCHASES AND PLANS FOR PROPOSED STOCK SPLIT.EBIX INC - ANNOUNCED THAT ITS SHAREHOLDERS HAVE APPROVED BY A WIDE MARGIN AN INCREASE IN COMPANY'S AUTHORIZED SHARES TO 220 MILLION FROM 120 MILLION.EBIX INC - EBIX STILL INTENDS TO IMPLEMENT A SPLIT OF ITS COMMON STOCK BUT HAS ELECTED TO DELAY SUCH ACTION.EBIX INC - MAY CONSIDER IMPLEMENTING AN ALTERNATIVE STOCK SPLIT RATIO, SUCH AS TWO-, THREE- OR FOUR-FOR ONE.EBIX INC - COMPANY HAS ELECTED TO DELAY A SPLIT OF ITS COMMON STOCK IN LIGHT OF DECLINE IN EBIX'S SHARE PRICE SINCE END OF SEPTEMBER.  Full Article

EbixCash Acquires AHA Taxis
Thursday, 6 Dec 2018 

Dec 6 (Reuters) - Ebix Inc ::EBIXCASH ACQUIRES AHA TAXIS, A PLATFORM FOR ON-DEMAND INTER-CITY CABS IN INDIA.EBIX INC - INDIA-BASED EBIXCASH SUBSIDIARIES HAS ACQUIRED A 70 PERCENT STAKE IN AHA TAXIS.EBIX INC - EBIX DID NOT USE ANY INVESTMENT BANKERS FOR DEAL.  Full Article

Software firm Ebix offers to buy India's ticketing firm Yatra

U.S. software firm Ebix Inc said on Monday it has offered to buy Indian travel services company Yatra Online Inc for $336 million in a cash-and-stock deal to add to its portfolio of Indian travel companies with a focus on a niche segment.