Ebix to Invest $200 Million on Acquisitions in India

Atlanta, GA-based Ebix Inc., that provides solutions on infrastructure exchanges, enterprise systems and risk compliance in insurance, healthcare and financial services, among others, plans to spend an additional $200 million for acquisitions in India.

Ebix first purchase in India was an 80% stake in ItzCash for $124 million  from the Essel Group and other shareholders in May this year. This investment launched Ebix in the prepaid cards, bill payments and remittances platforms. The company will now look for acquisitions in newer segments such as travel and lending, reports Mint.

ebix logo

Robin Raina, chief executive of Ebix Inc. said, “In India, you have one company doing wallets, one on insurance, some other focusing on remittance, and others focused on travel. However, the consumer remains the same; the same consumer is saying he wants to travel, or buy insurance, or send/receive money. By consolidating all these needs on one platform and using the same last-mile connectivity, you bring ease for the consumer, efficiency of doing the business as back-end costs reduce, and merchants or distributors on your network can also now offer multiple services to their customers.”

 

 

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Posted on by Gunjan Bagla
Gunjan Bagla
California-based management consultant Gunjan Bagla runs Amritt, a consulting firm helping American companies to succeed in India. Amritt is the trusted advisor for India market research, India business development, India market entry, Global Engineering, Global Technology Scouting, India R&D and Open Innovation. Gunjan is author of "Business in 21st Century India: How to Profit Today from Tomorrow’s Most Exciting Market" (Hachette Book Group, 2008), Amazon's top rated title on the subject. He has appeared as the India Expert on BBC Television, Bloomberg TV, Fox Cable Business and has been quoted in the New York Times, the Los Angeles Times, the Hollywood Reporter and Business Week for his expertise on India.

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