Last $13.37 USD
Change Today -0.06 / -0.45%
Volume 282.3K
EBIX On Other Exchanges
As of 8:10 PM 07/9/14 All times are local (Market data is delayed by at least 15 minutes).

ebix inc (EBIX) Snapshot

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03/18/14 - $17.95
52 Week Low
08/6/13 - $8.31
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ebix inc (EBIX) Details

Ebix, Inc. provides software and e-commerce solutions to the insurance industry. The company operates data exchanges, which connect various entities within the insurance markets and enables the participant to carry and process data from one end to another in the areas of life insurance, annuities, employee health benefits, risk management, workers compensation, and property and casualty (P&C) insurance. It also focuses in the area of broker systems on designing and deploying back-end systems consisting of eGlobal for multinational P&C insurance brokers; WinBeat for P&C brokers in the Australian and New Zealand markets; and EbixASP, a system for the P&C insurance brokers in the United States. In addition, the company offers business process outsourcing services, which include certificate origination, certificate tracking, claims adjudication call center, and back office support. Further, it provides carrier systems, such as Ebix Advantage and Ebix Advantageweb targeted at small, medium, and large P&C carriers in the United States and internationally that operate in the personal, commercial, and specialty line areas of insurance. Additionally, Ebix, Inc. offers software development, customization, and consulting services to various companies in the insurance industry, such as carriers, brokers, exchanges, and standard making bodies. The company was formerly known as Delphi Systems, Inc. and changed its name to Ebix, Inc. in December 2003. Ebix, Inc. was founded in 1976 and is headquartered in Atlanta, Georgia.

1,927 Employees
Last Reported Date: 03/17/14
Founded in 1976

ebix inc (EBIX) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $3.3M
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $240.0K
Senior Vice President of EBIX Health
Total Annual Compensation: $200.0K
Executive Vice President and Managing Directo...
Total Annual Compensation: $199.7K
Executive Vice President of International Bus...
Total Annual Compensation: $171.9K
Compensation as of Fiscal Year 2013.

ebix inc (EBIX) Key Developments

Court Approves Settlement Agreement in Class Action against Ebix Inc

The U.S. District Court for the Northern District of Georgia entered a final order and judgment approving the class-action settlement and plan of allocation and certifying the settlement class in the shareholder securities class-action suit filed in 2011 against Ebix Inc. on behalf of people who bought or otherwise acquired the company's common stock between May 6, 2009, and June 30, 2011. The final approval, which includes a dismissal of the action with prejudice, follows the court's preliminary approval of the settlement announced by the company on Feb. 6. The settlement agreement will require Ebix to make a one-time cash payment of $6.5 million to be funded by the company and its insurance carrier. Under the terms of the agreement, the company and certain current officers and directors denied any and all of the allegations made against them and agreed to settle this matter solely to eliminate the uncertainties, risk and expense of further protracted proceedings.

Ebix Enters into a Third Amendment to the Credit Agreement

On May 19, 2014, Ebix and certain of its subsidiaries entered into a Third Amendment to the Credit Agreement, dated April 26, 2012 (as previously amended), among the company, Wells Fargo Capital Finance, LLC, as a lender, RBS Citizens, N.A. as a lender, and Citibank, N.A., as Administrative Agent and as a lender (the Credit Agreement). The Third Amendment amends the company's obligations with respect to certain covenants under the Credit Agreement, to provide flexibility to the company to make certain specified business acquisitions, while allowing the company to make early payments towards reduction of its bank debt. Furthermore, the Third Amendment amends the Credit Agreement by reducing the revolving commitments of the lenders to $7,839,996 as of May 19, 2014 and, as of September 30, 2014, the revolving commitments of the lenders will be terminated and the balance will be reduced to $0. In connection with the execution of the Third Amendment, the company made a principal payment in the amount of $15,000,000 against the revolving loans under the Credit Agreement such that the aggregate principal amount of such revolving loans was reduced to $7,839,996. Additionally, the company will make, in addition to the scheduled principal payments otherwise required, a prepayment of principal on the term loans under the Credit Agreement in the aggregate principal amount of $5,000,000 on December 31, 2014.

Ebix Inc. Presents at 11th Annual Craig-Hallum Institutional Investor Conference, May-28-2014

Ebix Inc. Presents at 11th Annual Craig-Hallum Institutional Investor Conference, May-28-2014 . Venue: Minneapolis Marriott City Center Hotel, 30 South Seventh Street, Minneapolis, MN 55402, United States.


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Price/Sales 2.5x
Price/Book 1.2x
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