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Ebix Inc (EBIX.OQ)

EBIX.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Vara and Ebix form JV
Friday, 17 Nov 2017 

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​.  Full Article

Ebix Inc Q3 revenue $92.8 mln
Wednesday, 8 Nov 2017 

Nov 8 (Reuters) - Ebix Inc :Ebix Q3 revenues rose 24% to a record $92.8m, operating income rose 15% to $27.9m and diluted EPS rose 4% to $0.76.Q3 earnings per share $0.76.Q3 earnings per share view $0.72 -- Thomson Reuters I/B/E/S.Q3 2017 revenue rose 24% to $92.8 million compared to $74.6 million in Q3 2016​.Expect Q4 top line to be substantially better than Q3 as it will include revenues from a few additional acquisitions expected to close in Q4​.On bottom line, co expects operating margins to improve by a few points beyond 30% over next 6 months​.Says "our aspirational goal for Ebix is to reach a quarterly revenue run rate above $100 million by Q1 2018 with operating margins at or above 30%"​.  Full Article

Ebix Inc to buy Via.com for about $74.9 million​​
Tuesday, 31 Oct 2017 

Oct 31 (Reuters) - Ebix Inc :Ebix expands on leadership position in financial exchange markets in India through the acquisition of leading travel exchange Via.One of its Singapore subsidiaries has entered into an agreement to acquire via.com​.Under terms of agreement, via was valued at a total enterprise value of approximately $74.9 million​.Acquisition is expected to be accretive to Ebix earnings immediately​.Expects Via.com​ business to generate around $33 million in GAAP revenues in 2018 with approximately 30 percent operating margins.  Full Article

Patriot National Q2 adjusted earnings per share $0.11
Monday, 15 Aug 2016 

Patriot National Inc : Q2 adjusted earnings per share $0.11 . Q2 revenue rose 19 percent to $56.5 million . Patriot National's special committee of the board closes in on strategic opportunity decision; company reports second quarter 2016 results . Q2 gaap earnings per share $0.45 . Q2 earnings per share view $0.22 -- Thomson Reuters I/B/E/S . Ebix is expected to complete its due diligence by August 31, 2016 . Sees FY 2016 adjusted EBITDA $66 million - $71 million . Q2 revenue view $64.8 million -- Thomson Reuters I/B/E/S . Special committee is working collaboratively with Ebix, Inc. to explore possible combination of two businesses .Sees FY 2016 adjusted earnings $25 million - $28 million.  Full Article

Ebix Q2 earnings per share $0.70
Monday, 8 Aug 2016 

Ebix Inc : Ebix reports Q2 earnings per share of $0.70 on record revenues of $72.6 million . Q2 revenue $72.6 million .Q2 earnings per share $0.70.  Full Article

Ebix reported Q2 EPS $0.70
Monday, 8 Aug 2016 

Ebix Inc : Ebix reports Q2 EPS of $0.70 on record revenues of $72.6m .On a constant currency basis, Ebix Q2 2016 revenue increased 14% to $73.8 million.  Full Article

Patriot National enters into serious discussions with Ebix
Monday, 1 Aug 2016 

Ebix Inc : Patriot national enters into serious discussions with ebix, inc. .Special committee of board of directors of patriot national has agreed to consider an offer for a potential transaction with ebix.  Full Article

Patriot National receives revised takeover offer from Ebix at $475 mln
Monday, 1 Aug 2016 

Patriot National Inc : Patriot national receives enhanced offer from ebix, inc.; commences strategic discussions . Has now received a revised offer from ebix to acquire patriot national for a total enterprise value of $475 million .Ebix has also signed a confidentiality agreement with patriot national and has begun comprehensive due diligence with company.  Full Article

Ebix says expanding existing credit facility to $400 mln from $240 mln
Monday, 20 Jun 2016 

Ebix Inc : Says expansion of its existing credit facility from $240 million to $400 million, to fund its growth and share repurchase initiatives . Now has access to total funds of about $250 million to fund any of its working capital or any other growth and share repurchase initiatives . Says new credit facility also allows for up to $100 million of incremental facilities .Ebix increases credit facility to $400 million with the ability to upsize to $500 million via an accordian option.  Full Article

Ebix offers to buy Patriot National for $9.50 per share
Wednesday, 15 Jun 2016 

Ebix Inc : Ebix offers to acquire insurance technology solutions provider, Patriot National Inc, for $9.50 per share . Expects transaction to be immediately accretive to earnings per share for Ebix shareholders . Intends to pay for at least 55% of purchase in cash and balance (45%) in cash or stock, as mutually agreed upon . Has postponed plans for a 3-for-1 stock split and related special shareholders meeting until further notice . Offer contemplates assumption of patriot national's receivables, cash, other assets as well as current and long-term liabilities . Has retained investment banking advisory firm sherman & company of New York to assist Ebix with its offer .Sent a letter to board of patriot national, inc outlining its offer to acquire 100% of outstanding stock of patriot national.  Full Article

BRIEF-Vara and Ebix form JV

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