Ebix acquires software maker E-Z Data for $50.3 million in cash and stock

By AP
Thursday, October 1, 2009

Ebix acquires E-Z Data for $50.3 million

ATLANTA — Software supplier Ebix Inc. said Thursday that it acquired software maker E-Z Data Inc. in a cash-and-stock deal valued at $50.3 million.

Ebix, which provides software to insurers, said the deal was completed Thursday.

E-Z Data, based in California, makes Web-based software for life insurance companies and financial advisers.

Atlanta-based Ebix said half the deal will be paid for in cash while the other half will be paid with nearly 500,000 Ebix shares.

Ebix shares climbed 29 cents to $55.65 in morning trading Thursday.

YOUR VIEW POINT
NAME : (REQUIRED)
MAIL : (REQUIRED)
will not be displayed
WEBSITE : (OPTIONAL)
YOUR
COMMENT :