Ebix News

Xchanging Urges Shareholders to Accept CSC Bid; No Superior Bid Expected

Outsourcing company Xchanging Plc said it did not expect a superior cash offer from Ebix Inc and urged shareholders to accept a bid from U.S.-based Computer Sciences Corp. Insurance software company Ebix had in November made a 450 million pound …

Willis Launches Electronic Platform for Faster Premiums, Claims Payments

Willis Group Holdings has launched Willis Accounting, a new global electronic accounting platform designed to speed up cash flow and settle claims more quickly with carriers and clients. Following a successful pilot, Willis Accounting replaces traditional paper and email delivery …

UK’s Xchanging Receives Takeover Offer from Software Maker Ebix for $684M

Insurance software maker Ebix Inc said it made a 450 million-pound ($684 million) takeover approach for Xchanging Plc, making it the latest company to show an interest in the provider of services to the Insurance industry. Xchanging’s shares rose as …

Activist Investor Barington Targets Insurer Software Firm Ebix

Ebix Inc., a software supplier to the insurance industry, is being targeted by activist investor Barington Capital Group LP, which is seeking talks to nominate additional board members. Barington suggested four independent director nominees including the activist fund’s founder, James …

Ebix Says Money Laundering Allegations Are False

Ebix Inc. said allegations that it was involved in money laundering were false, after its shares tumbled on a Bloomberg report that federal investigators were reviewing the insurance software maker’s cross-border financial transactions. A former Ebix executive was asked by …

Insurance Tech Firm Ebix Reportedly Under U.S. Review for Possible Money Laundering

Federal investigators are reviewing Ebix Inc.’s cross-border financial transactions to see whether the Atlanta-based software company engaged in money laundering, according to three people with knowledge of the matter. Ebix fell $2.50 to $9.29 or 21 percent, at 1:43 p.m. …

Ebix, Goldman Sachs Terminate Merger Agreement Amid Probe

Ebix Inc., a supplier of software and E-commerce services to the insurance industry, announced that it and an affiliate of Goldman, Sachs & Co. have agreed to terminate their previously announced merger agreement. The merger agreement, announced on May 1, …

Report Criticizes Insurance Tech Firm Ebix’s Financials; Firm Refutes Allegations

Ebix Inc., a major provider of software and e-commerce products for the insurance industry, saw its stock price fall more than 25 percent Thursday, Feb. 21, after a research report critical of Ebix’s financial reporting began to circulate online. The …

Ebix Acquires Online Insurance Tech Provider TriSystems

Atlanta-based Ebix, Inc, a supplier of On-Demand software and E-commerce services to the insurance industry, announced that it has acquired London-based TriSystems Ltd., an online insurance trading hub that facilitates commercial insurance and reinsurance transactions between London intermediaries and insurance …

Insurance Exchange Ebix Acquires PlanetSoft for $40 Million

Atlanta-based insurance software and e-commerce supplier Ebix said it has agreed to buy life insurance and annuity services provider PlanetSoft Inc. for $40 million. Ebix said the acquisition is expected to be immediately accretive to earnings per share (EPS). The …