Atlanta-based Ebix Inc., a CMMi level 5 software outsourcing company that provides software and services for all entities involved in the insurance industry, has acquired California-based E-Z Data Inc. E-Z Data's Web-based agency management, practice management, and customer relations software serves insurance companies, general agents, banks, investment dealers, insurance agents and financial advisors.
Under terms of the agreement, Ebix has acquired all of the outstanding capital stock of E-Z Data for $50,350,000 payable as follows: $25,350,000 paid in cash at closing, and $25 million payable in 496,328 shares of the common stock of Ebix issued at the time of closing.
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