Ebix buys 2 buildings in India

Ebix, Inc. (NASDAQ: EBIX) said that it has completed the purchase of two new buildings in Noida, India, in the Export Processing Zone of the Government of India.

The company paid for the purchase using its own cash reserves in June 2014. The company also announced that it has received a 100 percent tax-exempt status for these new buildings, until 2019, under the Software Export Zone Act of the Government of India, after which the company is entitled to a 50 percent tax-free status in India until 2024.

With this new purchase, the company now has ten offices in India spread across Noida, Chennai, Coimbatore, Nagpur, Hyderabad and Bangalore. Ebix presently employs in excess of 1,200 employees in India. These buildings will facilitate the company´s near- and long-term growth and acquisition plans and the associated need for offshore development and BPO resources.

The company also launched a short film showcasing its India development facility, designed and architected by the Ebix CEO Robin Raina. The short film with a tour of the facility can be seen on the Ebix home page at www.ebix.com by clicking on “Ebix India Facility — A Short Film.”

An international supplier of On-Demand software and ecommerce services to the insurance industry, Ebix, provides end-to-end solutions ranging from infrastructure exchanges, carrier systems, agency systems and risk compliance solutions to custom software development for all entities involved in the insurance industry. It has more than 40 offices across Australia, Brazil, Canada, India, New Zealand, Singapore, the US and the UK. For more information, visit the company´s website at www.ebix.com.

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