Ebix

Ebix, Inc.

Formerly	Delphi Information Systems, Inc. (1976–1999) ebix.com, Inc. (1999–2003)
Type	Public
Traded as	NASDAQ: EBIX
Founded	1976; 48 years ago (1976) in Atlanta, Georgia, United States
Founder	Ken Bitticks (co-founder)
Headquarters	1 Ebix Way, Johns Creek, Georgia 30097 , United States
Area served	Worldwide
Key people	Robin Raina (Chairman, CEO and President)
Subsidiaries	Ebix Smartclass Educational Services
Website	www.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

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