ATLANTA’S E-BIX EYES INDIAN SOFTWARE FIRM

Vishal Kant, New Delhi
Financial Chronicle

Atlanta-based E-Bix.com is in the process of taking over an Indian software company. E-Bix is a leading international developer and supplier of software and e-commerce solutions to the insurance and banking industry with its business spread across in US, UK, Australia, New Zealand, Singapore, Canada and India.

"We cannot share the name of the company at this stage. The company is listed on the BSE. It is undervalued on the bourses at this stage, but has a strong consumer base in the US," Robin Raina, CEO and chairman of Nasdaq-listed E-Bix Inc told Financial Chronicle.

E-Bix is an international developer and supplier of software and e-commerce solutions to the insurance and banking industry with a business spread across in the US, the UK, Australia, New Zealand, Singapore, Canada and India.

E-bix, which made an unsolicited offer to buy Health Axis – the North Texas provider of health care software and services only a few days ago, is willing to invest $150 million for the take over. Amid the turmoil in the US financial market and funds drying up, the investment would be pooled in from the cash reserves of the company as well as from a few strategic investors, Robin said. "We have given a return of 4,700 per cent return to shareholders over the last five years. There’s no dearth of funds," he added.