Ebix

Ebix, Inc., previously known as ebix.com, Inc.[2] and formerly Delphi Information Systems, Inc.,[3] is an American multinational technology company which focuses on e-commerce, cloud computing (SaaS), insurance,[4] finance, healthcare and e-learning. Co-founded by Ken Bitticks in Atlanta, Georgia in 1976,[5] it was traded on Nasdaq as EBIX.[6] The company's global headquarters is located in Johns Creek, Georgia, with offices in Australia, Brazil, Canada, India, New Zealand, Singapore and UK.[7]

History

Ebix was co-founded as Delphi Information Systems, Inc. by Ken Bitticks in 1976 in Atlanta, Georgia, United States.[8] In 1983, it was reincorporated in Delaware.[9]

In October 1997, Robin Raina was appointed as the firm's new vice president for professional services.[10] He took over as president[11] and then as chief executive officer[12] in 1999. In May 1999, the firm announced the introduction of its first e-commerce portal, ebix.com.[13] Robin became the director in February 2000[14] and was later appointed as the chairman in 2002.[15] In 2003, he changed the company's name from ebix.com, Inc. to Ebix, Inc.[16] 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]