ATLANTA, GA - April 13, 2016 - Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial and healthcare industries, today announced that it has started the client implementation of a E-governance project for India's largest Government owned ISP Bharat Sanchar Nigam Limited (BSNL). The project is being implemented by Ebix's newly formed joint venture subsidiary with Vayam Technologies Limited to address the E-governance sector in India.
The purchase orders involve implementation of Web-filtering and Anti-Spam projects at BSNL, over a period of approximately 12 months spread across two phases. The projects involve turnkey implementation of various components required for deploying the solutions including design, installation, testing, system integration, commissioning, training, and maintenance of the web based solutions across different locations in the country. The total value of the two phases to be implemented is presently estimated to be at approximately $11.6 million.
BSNL is India's largest provider of fixed telephony and broadband services with more than 60% market share, besides being the sixth largest mobile telephony provider in India. The Company is also the country's oldest communication services provider, with a customer base of approximately 93 million users.
Ebix Chairman, President and CEO Robin Raina said, "As indicated earlier, Ebix is pursuing many large E-governance and Education sector opportunities in India at present. We have formed two-majority owned joint ventures in India to provide focus and expertise to each of these two sectors. This BSNL contract is an exciting win for us in the E-governance sector. We expect many more such wins over the next 12 months."
"With the largest middle class in the world, 65% of the 1.2 billion population being under the age of 35 years by the year 2025, and a Central Government that is committed to bringing E-governance into every aspect of the country, India today holds a lot of promise for Companies that want to play a role in the dream of building a modern Digital India," Raina added. "The country also has a stated commitment to bring smart education and e-learning into the tens of thousands of schools in each of the 29 states in the country. We feel that Ebix is well suited to address the opportunities in the Education sector also and thus are pursuing many opportunities worth tens of millions of dollars in that area."
A leading international supplier of On-Demand software and E-commerce services to the insurance, financial and healthcare industries, Ebix, Inc., (NASDAQ: EBIX) provides end-to-end solutions ranging from infrastructure exchanges, carrier systems, agency systems and risk compliance solutions to custom software development for all entities involved in the insurance industry.
With 40+ offices across Brazil, Singapore, Australia, the US, UK, 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. For more information, visit the Company's website at www.ebix.com
Bharat Sanchar Nigam Limited (BSNL) is a public sector Government owned Telecommunications Company headquartered in New Delhi. BSNL is India’s largest provider of fixed telephony and broadband services with more than 60% market share, besides being the sixth largest mobile telephony provider in India. The Company is also the country's oldest communication services provider, with a customer base of approximately 93 million users, and a microwave network connecting 623 districts, 7330 cities/towns & 580,000 villages. For more information, visit the Company's website at www.bsnl.co.in
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Darren Joseph
678 -281-2027 or IR@ebix.com
David Collins or Chris Eddy
Catalyst Global - 212-924-9800 or ebix@catalyst-ir.com