| MCN
is now Ebix! – Ebix Sets Base in Latin America with this
Important Acquisition!
What does this mean for customers, partners and stakeholders?
Ebix plans to expand offerings and continue existing leadership
and focus on the industry through a global presence.
Ebix, Inc. (NASDAQ: EBIX),
is a leading international supplier of On-Demand software and
E-commerce services to the insurance industry. With this announced
acquisition of Sao Paulo-based MCN Technology & Consulting
(MCN) (effective 15th of January 2010), customers will enjoy
additional value and continued stability.
Robin Raina, Chairman, President and CEO of Ebix, Inc., said,
“The acquisition of MCN provides us with a solid relationship
base in the Latin American insurance markets. We see this as
an entry point for Ebix to cross-sell its exchanges and back-end
systems in Latin America. Brazil was a natural choice as our
Latin American headquarters since it accounts for 40% of the
region’s insurance revenues. MCN has strong relationships
with leading Life insurance and P&C companies in Latin America
and we intend to develop those relationships further.”
Robin added, “We are pleased to inherit a strong team
of 45+ employees with expansive insurance domain knowledge specific
to Latin America. The company has a strong management team headed
by Mario Nogueira, an insurance industry veteran who will help
Ebix take its vision into the market place in an expeditious
manner.”
About MCN
Since its inception in 2001, MCN has focused itself on the insurance
industry through its portfolio of products and services for
insurance companies, financial institutions and insurance brokers.
MCN provides a wide array of IT products and services with the
key one being Exchanges for pension and annuities, besides specialized
Enterprise Integration Products, eBusiness Transactional Portals
and Specialized Consulting, Implementation and Support Services,
to the insurance industry in Latin America.
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 Singapore, Australia, the US, New Zealand,
India, China, Japan 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 that 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). Ebix has also earned 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
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