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American multinational technology company From Wikipedia, the free encyclopedia
Ebix, Inc., previously known as ebix.com, Inc.[2][3] and formerly Delphi Information Systems, Inc.,[4] is an American multinational technology company which focuses on e-commerce, cloud computing (SaaS), insurance,[5] finance, healthcare and e-learning. Co-founded by Ken Bitticks in Atlanta, Georgia in 1976,[6][7] it was traded on Nasdaq as EBIX.[8] The company's global headquarters is located in Johns Creek, Georgia, with offices in Australia, Brazil, Canada, India, New Zealand, Singapore and UK.[9]
| |
| Formerly | Delphi Information Systems, Inc. (1976–1999) ebix.com, Inc. (1999–2003) |
|---|---|
| Company type | Public |
| OTC Pink: EBIXQ Nasdaq: EBIX (prior to 2024) | |
| Founded | 1976 in Atlanta, Georgia, United States |
| Founder | Ken Bitticks (co-founder) |
| Headquarters | 1 Ebix Way, Johns Creek, Georgia 30097 , United States |
Area served | Worldwide |
Key people | Robin Raina (chairman, CEO and president) |
Number of employees | 9,802[1] |
| Subsidiaries | Ebix Smartclass Educational Services
EbixCash |
| Website | Official website |
Ebix was co-founded as Delphi Information Systems, Inc. by Ken Bitticks in 1976 in Atlanta, Georgia, United States.[7] In 1983, it was reincorporated in Delaware.[10]
In October 1997, Robin Raina was appointed as the firm's new vice president for professional services.[11] He took over as president[12] and then as chief executive officer[13] in 1999. In May 1999, the firm announced the introduction of its first e-commerce portal, ebix.com.[14] Robin became the director in February 2000[15] and was later appointed as the chairman in 2002.[16] In 2003, he changed the company's name from ebix.com, Inc. to Ebix, Inc.[3] In 2013, Bloomberg reported that the U.S. federal government launched a probe against Raina after the disclosure of his proposed 820 million US dollars deal with Goldman Sachs to take the firm private.[17] In early 2015, it moved its headquarters to Johns Creek, Georgia.[18]
In May 2017, the firm acquired 80% stake in Indian digital payments firm ItzCash for 124 million dollars from Essel Group[19] and later rebranded it as EbixCash. In August 2017, the firm purchased BSE-listed Wall Street Finance Ltd's subsidiary Goldman Securities Ltd, along with its money transfer service scheme business, for $7.4 million.[20] In September 2017, Ebix agreed to acquired BSE-listed Paul Merchants Ltd's international remittance business for $40.7 million.[21] In November 2017, Ebix acquired Indian travel company Via.com for almost $75 million.[22][23]
On December 17, 2023, after defaulting on a $617 million loan, Ebix declared Chapter 11 bankruptcy.[24] In 2024, it was acquired by an India-based company, Eraaya Lifespaces.[25]
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