ATLANTA, May 11, 2012 (GLOBE NEWSWIRE) -- Ebix, Inc. (Nasdaq:EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance industry, today announced that it has been ranked as the 6th Fastest Growing Technology Company in America by Forbes Magazine. The list, which comprises the 25 Fastest Growing Technology Companies is chosen from more than 5,000 publicly traded technology companies analyzed by Forbes and will appear in the May 21st 2012 issue of FORBES Magazine and is available online at www.Forbes.com
As per Forbes, the Company was ranked 6th, with three-year average sales growth of 32% per year. Ebix was the only Company from Georgia in the Forbes's top ten list of Fastest Growing Companies in America.
The list of the fastest growing technology Companies in America features LinkedIn and Apple in the first two spots.
How Forbes's ranking works:
Forbes combed more than 5,000 publicly traded technology companies, looking for profitable companies with minimum revenue of $150 million and a minimum market value of $500 million.
Forbes then looked for firms with sales growth of at least 10% for each of the past three fiscal years and over the latest 12 months. Forbes also required companies to have three-to-five-year estimated earnings-per-share growth rates greater than 10%. Finally, Forbes ranked companies based on their three-year average sales growth rates.
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 Brazil, Singapore, Australia, 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 to provide products, support and consultancy to thousands of customers on six continents. Ebix's focus on quality has enabled it to be awarded Level 5 status of the Carnegie Mellon Software Engineering Institute's Capability Maturity Model (CMM). Ebix has also earned ISO 9001:2000 certification for both its development and BPO units in India. For more information, visit the Company's website at www.ebix.com
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