ATLANTA, June 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 the acquisition of PlanetSoft, Inc. was completed on Friday June 8, 2012.
PlanetSoft and Ebix Exchange products will give Ebix the unique ability to converge insurance and investment operations from front end to back end. The process will also enable lead generation, CRM, quoting, illustration, research, underwriting, compliance, policy issuance, claims, reinsurance, compensation management, agent appointment to be managed in an end-to-end transaction providing straight through processing. The acquisition is expected to be immediately accretive to Ebix Earnings per Share (EPS). No financial advisors were involved in the transaction from the Ebix side.
Incorporated in 1998, PlanetSoft has grown rapidly to be recognized as a major technology provider addressing mission critical processes in the Life and P&C segments of the insurance industry. Focused in the areas of streamlining distribution centric processes, including a seamless transaction of underwriting insurance via web portals and mobile devices, PlanetSoft is accelerating insurance sales and service through technology. For more information about PlanetSoft and its solutions please visit www.planetsoft.com
A division of Ebix, Inc., EbixExchange is the premier On-Demand Software Exchange that offers products and services that automate, expedite, and improve the process for the life insurance, annuity, property & casualty, and health insurance industries. Seen as a leading developer of electronic Straight Through Processing, EbixExchange currently supports a broad range of insurance agencies, brokerage and clearing firms, and operations centers at over 100 of the leading insurance carriers and their affiliates. EbixExchange products include WinFlex (multi-carrier compliant illustrations), VitalSales Suite (research/quotes/forms), AnnuityNet (annuity order-entry), LifeSpeed (advanced application processing), EbixHealth (employee benefits and claims) and various P&C exchanges across the world. For more information, please visit http://www.ebixexchange.com
About Ebix, Inc.
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). With a recent ISO 27001-security certification, the Company also has a 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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