Company:Ebix

From HandWiki
Ebix, Inc.
FormerlyDelphi Information Systems, Inc. (1976–1999)
ebix.com, Inc. (1999–2003)
TypePublic
NASDAQ: EBIX
Founded1976; 48 years ago (1976) in Atlanta, Georgia, United States
FounderKen Bitticks (co-founder)
Headquarters
1 Ebix Way, Johns Creek, Georgia 30097
,
United States
Area served
Worldwide
Key people
Robin Raina (Chairman, CEO and President)
SubsidiariesEbix Smartclass Educational Services
Websitewww.ebix.com

Ebix, Inc., previously known as ebix.com, Inc.[1][2] and formerly Delphi Information Systems, Inc.,[3] is an American multinational technology company which focuses on e-commerce, cloud computing (SaaS), insurance,[4] finance, healthcare and e-learning. Co-founded by Ken Bitticks in Atlanta, Georgia in 1976,[5][6] it is traded on Nasdaq as EBIX.[7] It was listed among the 100 fastest growing companies by CNN Money in 2009.[8] The company's global headquarters is located in Johns Creek, Georgia, with offices in Australia, Brazil, Canada, India, New Zealand, Singapore and UK.[9]

History

Ebix was co-founded as Delphi Information Systems, Inc. by Ken Bitticks in 1976 in Atlanta, Georgia, United States.[6] In 1983, it was reincorporated in Delaware.[10]

In October 1997, Robin Raina was appointed as the loss-making firm's new vice president for professional services.[11] He took over as president[12] and then as chief executive officer[13] in 1999. In May 1999, the firm announced the introduction of its first e-commerce portal, ebix.com.[14] Robin became the director in February 2000[15] and was later appointed as the chairman in 2002.[16] In 2003, he changed the company's name from ebix.com, Inc. to Ebix, Inc.[2] Raina is known to lead the firm efficiently during the 2008 global financial crash through several business tactics, like fiscal restraint, careful investing and caution in executing big transactions.[13] In 2013, Bloomberg reported that the U.S. federal government launched a probe against Raina after the disclosure of his proposed 820 million US dollars deal with Goldman Sachs to take the firm private.[17] In early 2015, it shifted its headquarters from Johns Creek.[18]

In May 2017, the firm acquired 80% stake in Indian digital payments firm ItzCash for 124 million dollars from Essel Group[19] and later rebranded it as EbixCash. In August 2017, the firm purchased BSE-listed Wall Street Finance Ltd’s subsidiary Goldman Securities Ltd, along with its money transfer service scheme business, for $7.4 millions.[20] In September 2017, Ebix agreed to acquired BSE-listed Paul Merchants Ltd’s international remittance business for $40.7 millions.[21] In November 2017, Ebix acquired Indian travel company Via.com for almost $75 millions.[22][23]

References

  1. ↑ "ebix.com Elects New Board" (in en-US). 2000-11-26. https://www.insurancejournal.com/news/national/2000/11/27/11552.htm. 
  2. ↑ 2.0 2.1 "Ebix Inc. - Insurance Software Development Software outsourcing company Custom application development services Offshore software development India". https://www.ebix.com/PressRelease/PressReleasebyID/21. 
  3. ↑ "Technology 10/99". https://roughnotes.com/rnmagazine/1999/october99/10p40.htm. 
  4. ↑ "Digitizing the Insurance Industry - FOXBusiness.com". 2009-08-29. http://www.foxbusiness.com/search-results/m/25988046/digitizing-the-insurance-industry.htm. 
  5. ↑ Kids, Baby. "Dorothy the Organizer Team | http://www.dorothy.com" (in en-US). http://www.dorothy.com.vhost.zerolag.com/dorothy-the-organizer-team/. 
  6. ↑ 6.0 6.1 "Ken Bitticks – Co-founder Digital Life Cloud | CareGiverSummit.org" (in en-US). https://www.caregiversummit.org/portfolio/ken-bitticks-co-founder-digital-life-cloud/. 
  7. ↑ "Ebix, Inc. (EBIX) Stock Price, News, Quote & History - Yahoo Finance" (in en-US). https://finance.yahoo.com/quote/ebix/. 
  8. ↑ "100 Fastest-Growing Companies 2009: Ebix - EBIX - from FORTUNE". https://money.cnn.com/magazines/fortune/fortunefastestgrowing/2009/snapshots/4.html. 
  9. ↑ "Insurance Software Solution | Insurance Software Development -Ebix" (in en). https://www.ebix.com/. 
  10. ↑ "EBIX, INC.". https://www.sec.gov/Archives/edgar/data/814549/000095014409000658/g16354a3sv1za.htm. 
  11. ↑ Quiz, Bussiness Today Online. "Robin Raina: Fintech's Master Blaster". https://www.businesstoday.in/interactive/longread/ebix-cash-fintech-player-financial-transactions-in-india-bill-payments-robin-raina-76-24-12-2021. 
  12. ↑ "Robin Raina Net Worth (2022) – wallmine.com" (in en-in). https://in.wallmine.com/people/8253/robin-raina. 
  13. ↑ 13.0 13.1 Fehrenbach, Peter (2012-09-01). "How Robin Raina readied Ebix for a crisis, then made the needed tweaks to get through" (in en-US). https://www.sbnonline.com/article/how-robin-raina-readied-ebix-for-a-crisis-then-made-the-needed-tweaks-to-get-through/. 
  14. ↑ "REPEAT/ Delphi Information Systems Announces E-Commerce Website Allowing Consumers to Compare and Buy Insurance Online" (in en-US). 2021-06-30. https://indexarticles.com/business/business-wire/repeat-delphi-information-systems-announces-e-commerce-website-allowing-consumers-to-compare-and-buy-insurance-online/. 
  15. ↑ "Error: no |title= specified when using {{Cite web}}". https://www.sec.gov/Archives/edgar/data/814549/000104746903015711/a2109724z10-ka.htm. 
  16. ↑ "Error: no |title= specified when using {{Cite web}}". https://www.bizjournals.com/atlanta/stories/2002/06/03/daily15.html. 
  17. ↑ "Ebix's Raina Loses Magic Touch As U.S. Probes Accounting". 2013-06-20. https://www.bloomberg.com/news/articles/2013-06-20/ebix-s-raina-loses-magic-touch-as-u-s-probes-accounting. 
  18. ↑ undefined. "Ebix moving headquarters to Johns Creek" (in English). The Atlanta Journal-Constitution. ISSN 1539-7459. https://www.ajc.com/business/ebix-moving-headquarters-johns-creek/BSsbm0AHIL4KVMxMcXpI1I/. 
  19. ↑ Dhanjal, Swaraj Singh (2017-05-24). "Ebix acquires 80% stake in ItzCash for Rs800 crore" (in en). https://www.livemint.com/Companies/8ZshaKsFnDp23dkCowgDEO/Ebix-to-acquire-80-stake-in-ItzCash.html. 
  20. ↑ "ItzCash parent Ebix buys Wall Street Finance's arm, remittance business" (in en-US). 2017-08-17. https://www.vccircle.com/itzcash-parent-ebix-buys-wall-street-finances-arm-remittance-business. 
  21. ↑ "ItzCash parent Ebix acquires Paul Merchants' remittance biz" (in en-US). 2017-09-21. https://www.vccircle.com/itzcash-parent-ebix-acquires-paul-merchants-remittance-biz. 
  22. ↑ "ItzCash parent Ebix acquires Sequoia-backed hybrid OTA Via.com" (in en-US). 2017-10-31. https://www.vccircle.com/itzcash-parent-ebix-acquires-sequoia-backed-hybrid-ota-via-com. 
  23. ↑ Bhakta, Pratik; Gooptu, Biswarup. "EbixCash acquires online travel portal Via.com for $75 million". The Economic Times. https://economictimes.indiatimes.com/small-biz/startups/ebixcash-acquires-online-travel-portal-via-com-for-75-million/articleshow/61363384.cms?from=mdr. 


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