Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand
software and E-commerce services to the insurance industry, today
announced that its Board of Directors has unanimously approved an
increase in the size of the Company’s authorized share repurchase plan.
Under the approved resolution, the aggregate amount of common stock the
Company is authorized to repurchase was increased from $15.0 million to
The Company also announced that it has purchased a total of 106,483
shares of its common stock over the last few days, under the previously
authorized share repurchase plan of $15 million, by the Ebix Board. All
share repurchases were done in accordance with Rule 10b-18 of the
Securities Act of 1934 as to the timing, pricing, and volume of such
transactions. The Company is using available cash resources and cash
generated by its operating activities to fund such share repurchases.
The Company also confirmed that the Ebix CEO and Ebix CFO Presentations
at the Investor Conference today will be webcast live at 8am EST.
Investors can view the presentation and listen to the audio by going to
the Ebix investor Home page.
Time & Date: 1st April 2011 @ 8am EST
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 Singapore, Australia, the US, New Zealand,
India, China, Japan 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 that 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). Ebix has also
earned 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