ATLANTA – November1, 2011 – Ebix, Inc. (NASDAQ: EBIX) a leading provider of On-Demand software and E-commerce services to the insurance industry, today announced that the put option for 1.49 million Ebix shares expired on October 31 without being exercised.. The put option was issued to the owners of E-Z Data in October 2009 in connection of the acquisition of E-Z Data and if exercised would have enabled the put owners to sell the 1.49 million shares of Ebix common stock back to the Ebix at a price of $15.11 per share.
About
Ebix
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
Contact:
Steven Barlow, 678-281-2043 or steve.barlow@ebix.com
Or
Aaron Tikkoo, 678 -281-2027 or atikkoo@ebix.com