Saahil Anant, New Delhi
Financial Chronicle
Acquisition is on the cards for Atlanta-based software solutions provider Ebix. The company is in talks with three Indian software companies for acquisition. Ebix is a supplier of software and e-commerce solutions to the insurance industry. The company provides a series of application software products for the insurance industry ranging from carrier systems, agency systems and exchanges to custom software development for all entities involved in the insurance and financial industries. “We are in talks with three companies which are publicly listed on the BSE. We are looking at companies that have a good customer relationship and decent cash flow,” Robin Raina, chairman and CEO Ebix said.
However, he declined to divulge any detail on the on going acquisition deals.
Financial Chronicle in September 2008 had reported Ebix’s process of taking over an Indian company. When asked about the same, Raina said, “The deal did not work out. As you dig deeper into these companies you may see too many skeletons and then it gets scary. We feel that there is tremendous opportunity, but we have to be very cautious while making decisions,” Raina said.
Ebix has so far invested $20 million in its India operations. The company’s headcount is 300 employees in the two BPO units functioning in Noida. “We are looking to add another 150 employees in the next two months to our India (Noida) operations,” he said. The company has its operations in the US, UK, Australia, New Zealand, Singapore, Canada and India and has a client base of 5 lakh customers including clients like AIG, HSBC, Prudential and Wachovia.
1 comments:
The technology is changing day by day.So, we need to keep ourself updated to sustain in the market.As Ecommerce is the growing marketing platform, we need to be careful about the above points for the success of our Ecommerce site.Ecommerce Software
Post a Comment