Left Menu
Development News Edition

Ebix acquires Pune-based Indus Software Technologies for around USD 29 million

Ebix is an international supplier of on-demand software and e-commerce services to the insurance, financial, healthcare and e-learning industries.

International supplier of on-demand software and e-commerce services Ebix today announced that it has acquired Pune-based Indus Software Technologies for around USD 29 million including USD 5 million of contingent earn-out.

Indus will be integrated into Ebix's financial exchange EbixCash offering in India and abroad, with key Indus business executives becoming an integral part of the combined EbixCash senior leadership, a release said here.

Ebix is an international supplier of on-demand software and e-commerce services to the insurance, financial, healthcare and e-learning industries.

The acquisition of Indus will increase the employee strength of Ebix in India by 900 to around 7,200 employees.

Ebix funded the acquisition using its internal cash reserves, it added.

"We have always believed that lending is a must have functionality for any leading end-to-end financial exchange. The acquisition of Indus is a step in the direction of accomplishing the first step of our vision plan," Ebix chairman, president and CEO Robin Raina said.

Indus provides the ability to interface a Person to Person (P2P) Lending exchange into the back-end systems of top lenders in the market place and move data seamlessly across front-end and back-end systems, he said.

"This will also allow Indus clients to access the over 260,000 physical distribution expanse of EbixCash, along with

our strong corporate and electronic network, and be a lending provider to our vast consumer network in India, through a future EbixCash P2P Exchange," he said.

Indus also fits in with Ebix's goals of expanding the EbixCash network globally, since it provides the company with an international customer base across Europe, Middle East and South-East Asia, Raina added.

Indus offers a specialised suite of products and technology solutions for banking and finance, telecom and insurance industries.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.



Conspiracy theories on COVID 19: Legislators, Scientists, and Journalists all joined the Caravan

Conspiracy theories are not new for virus epidemics. There have been conspiracy theories on HIV-AIDS, Polio Vaccines, Ebola Virus, and several other diseases as well. However, what makes the 2019 Novel Coronavirus different from others is ...

Top 10 Fake News, Myths and Realities on 2019 Novel Coronavirus COVID 19

With nearly 1500 deaths by January 14 and around 65,000 infections in China, the Novel Coronavirus 2019 has become one of the worst health epidemics of the 21st Century. However, 8,573 people have been cured but the rumor mongers are a...

Handling fake news Infodemic in time of Coronavirus epidemic

Social media has provided a platform where everybody can disseminate his her views without any supervision. Its excellent if the message is genuine but misinformation is equally disastrous. Health is such a topic where every Tom and Harry c...

Sentiment Analysis on Budget 2020: Long shot for solution to economic worries?

Industries and individuals alike had high expectations from the government to take tangible steps but the budget 2020 seems to have failed expectations....


Latest News

Affidavit case: Fadnavis appears before Maha court, gets bail

Former Maharashtra Chief Minister Devendra Fadnavis appeared before a Nagpur court on Thursdayin connection with a complaint seeking criminal proceedings against him for non-disclosure of criminal cases in his 2014election affidavit. Chief ...

China lab says conspiracy theories hurting efforts to curb virus

An outbreak of disinformation in China and elsewhere has hurt global efforts to combat the new coronavirus, said a specialist infectious disease lab located at the epicentre of the epidemic -- and at the heart of a number of conspiracy theo...

Kenya to issue 150 bln shillings roads bond by June -report

Kenya will issue a 150 billion shillings 1.48 billion roads bond by June, the Business Daily newspaper reported on Thursday, quoting a top government official. The bond will be the first whose proceeds are dedicated to building and maintain...

After fiery debate attacks on Bloomberg, Democrats scatter on campaign trail

The Democratic presidential contenders begin a frantic dash for votes on Thursday after a fiery debate featuring a volley of attacks on big-spending billionaire Michael Bloomberg, who was making his debut on the national debate stage.With t...

Give Feedback