Johns Creek, GA - June 05, 2018: Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, e-governance, e-learning and healthcare industries, today announced that it has completed the acquisition of India based CentrumDirect Limited (CDL), the undisputed leader in India’s foreign exchange and outward remittance markets for approximately $175 million. CDL is one of the few named players in India with the requisite AD-II and FMCG regulatory licenses to conduct these businesses through a vast network encompassing 165 outlets spread across 55 cities, 200+ franchisee partners, 2,000+ travel agents, 50+ banks and financial institutions, 1000+ SMEs, and 150+ large corporate clients. The acquisition was announced through a press release dated April 3rd 2018.
The addition of the CDL Exchange to the EbixCash portfolio further strengthens Ebix’s leadership in India’s Financial Exchange markets:
A leading international supplier of On-Demand software and E-commerce services to the insurance, financial, e-governance, e-learning and healthcare industries, Ebix, Inc. provides end-to-end on-Demand solutions ranging from infrastructure exchanges, front end & back end enterprise systems, outsourced administrative & custom software development solutions, and risk compliance solutions for various entities involved in these industries.
With 50+ offices across Australia, Brazil, Canada, India, New Zealand, Singapore, the US and the UK, 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 annually on its platforms. Through its various SaaS-based software platforms, Ebix employs hundreds of domain specific business 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
An Ebix Group initiative, EbixCash is emerging as one of the leading Financial Exchanges in India. With a ‘Phygital” strategy that combines 260,000 physical distribution outlets to a Omni-channel online digital platform, EbixCash has established an enterprise financial exchange portfolio that encompasses leadership in money remittance (domestic & international), travel, pre-paid & gift cards, utility payments etc. Ebix’s recent joint venture initiative with Bombay Stock Exchange positions it strongly in India’s insurance sector. EbixCash’s portfolio of products can be accessed digitally anywhere as also across its distribution outlets spread over 5,500+ cities and towns. For further details, visit www.ebixcash.com