Atlanta, GA-based Ebix Inc., that provides solutions on infrastructure exchanges, enterprise systems and risk compliance in insurance, healthcare and financial services, among others, plans to spend an additional $200 million for acquisitions in India. Ebix first purchase in India was an 80% stake in ItzCash for $124 million from the...
U.S.'s Ebix Acquires Majority Stake in India's ItzCash
Atlanta, GA-based Ebix Inc., a maker of software for the insurance and financial services industry, acquired a majority stake in Indian payments services firm ItzCash for approximately $124 million. ItzCash's earlier investors, Matrix Partners, Intel Capital and Lightspeed Venture Partners, exited the company for returns between 3X - 5X, leaving...