Software Firm Ebix Acquires E-Z Data for $50 Million

Insurance software firm Ebix, Inc. has acquired California-based E-Z Data, Inc.

E-Z Data’s Web-basd agency management, practice management, and customer relations software serves insurance companies, general agents, banks, investment dealers, insurance agents and financial advisors.

Under terms of the agreement, Ebix has acquired all of the outstanding capital stock of E-Z Data for $50,350,000 payable as follows: $25,350,000 paid in cash at closing, and $25,000,000 payable in 496,328 shares of the common stock of Ebix issued at the time of closing.

Robin Raina, chairman, president and CEO of Ebix, called the deal one of his company’s “most strategic acquisitions since this will provide us access to a majority of the life and annuity brokers’ desktop in the United States.”

Ebix, Inc. provides software and services for all entities involved in the insurance industry.

Topics Mergers & Acquisitions