Ebix Announces Resolution of IRS Audit

Ebix, Inc. (Nasdaq: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial and healthcare industries, today announced that it has reached a resolution with the Internal Revenue Service with respect to the previously disclosed audit of Ebix's income tax returns for the taxable years 2008 through 2012. The assessment relates solely to non-recurring issues associated with certain acquisitions occurring during the audit period. No adverse assessments or deficiencies were asserted with respect to any recurring operating transactions. The audit was extended to 2012, which is now part of the resolution.The company expects that the assessment will result in an approximately ($1.4) million impact on net income for the fourth quarter of 2014 after taking into account the company's previously established and disclosed provisions for uncertain tax positions. The audit has no effect on any positions that the Company has taken in any future years. This resolution includes all issues for the taxable years 2008 through 2012.