Ebix Acquires Sydney Based Fintechnix
Ebix, Inc. (Nasdaq: EBIX) today announced that its Australian operation has acquired Fintechnix, a leading supplier of web based straight through processing solutions to the Australian Life Insurance and Wealth Management sectors.
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.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.