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