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Ebix Announces Expiration of Put Option

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  Published in Science and Technology on Tuesday, November 1st 2011 at 22:42 GMT by Market Wire
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ATLANTA--([ BUSINESS WIRE ])--Ebix, Inc. (NASDAQ: EBIX) a leading provider of On-Demand software and E-commerce services to the insurance industry, today announced that the put option for 1.49 million Ebix shares expired on October 31 without being exercised. The put option was issued to the owners of E-Z Data in October 2009 in connection of the acquisition of E-Z Data and if exercised would have enabled the put owners to sell the 1.49 million shares of Ebix common stock back to the Ebix at a price of $15.11 per share.

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, Brazil, the US, 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 that provide products, support and consultancy to more than 3,000 customers on six continents. Ebixas focus on quality has enabled it to be awarded Level 5 status of the Carnegie Mellon Software Engineering Instituteas Capability Maturity Model (CMM). With a recent ISO 27001-security certification, the Company also has a ISO 9001:2000 certification for both its development and BPO units in India. For more information, visit the Companyas website at [ www.ebix.com ].