This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Ebix Takes Strategic Position In London With The Acquisition Of Reinsurance Trading Hub - TriSystems

  • Company Expects the Merger to be Immediately Accretive

ATLANTA, Aug. 15, 2012 (GLOBE NEWSWIRE) -- Ebix, Inc. (Nasdaq:EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance industry, today announced that it has acquired London based TriSystems Ltd., a leading online insurance trading hub that facilitates commercial insurance and reinsurance transactions between London intermediaries and insurance companies. The TriSystems products and Services will now become a part of the EbixExchange Division of Ebix Europe.

Ebix expects the transaction to be immediately accretive to Ebix Earnings per Share (EPS). Ebix disclosed that it funded this transaction completely in cash. No Ebix shares were issued and no investment bankers were involved in the transaction.

The TriSystems On-Demand SaaS platform communicates electronic endorsements and placements with underwriters using ACORD messaging over the Lloyd's Exchange together with A&S (Accounting and Settlement) and ECF (Electronic Claims File) via the Insurance Market Repository. All functions are accessed through a single user portal on the Internet. The TriSystems products and services enable efficient and cost-effective communication between Underwriters and Brokers using the ACORD XML messaging standards, together with other UK and worldwide messaging standards like EDI and XML.

Robin Raina, President & CEO, Ebix Inc. said, "This is clearly a strategic acquisition for us as it provides us a base in one of the largest insurance markets in the world and helps us introduce EbixExchange services and CRM solutions to the London market. TriSystems provides Ebix with an on-demand SaaS service that supports the transactions of all types and classes of large commercial insurance and facultative & treaty reinsurance. We are excited about the possibilities it offers us both in the London markets and in the worldwide reinsurance markets."

"With 70% plus recurring revenue streams, low customer attrition rates, proven management record, complimentary technologies and SaaS based architecture, TriSystems met our criteria of a good acquisition target for Ebix." Robin added, "We are pleased to have inherited a strong London based management team that can also help us cross-sell Ebix services in the London markets."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,126.12 -36.87 -0.20%
S&P 500 2,120.79 -2.69 -0.13%
NASDAQ 5,097.9760 -8.6170 -0.17%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs