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EBIX > SEC Filings for EBIX > Form 8-K on 22-May-2009All Recent SEC Filings

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Form 8-K for EBIX INC


22-May-2009

Other Events


Item 8.01 Other Events

On May 19, 2009, Ebix, Inc. ("Ebix" or the "Company") signed a binding agreement to acquire Facts Services, Inc, ("FACTS") effective May 1, 2009. Pursuant to the terms of this agreement, on May 19, 2009, Ebix paid FACTS shareholders $6.5 million for all of FACTS' stock. FACTS, with principal offices in Miami, Florida, is a leading provider of fully automated software solutions for healthcare payers specializing in claims processing, employee benefits, and managed care. FACTS products are available in either an ASP or self-hosted model. The Company intends to combine the FACTS operations with its Pittsburgh health services division operating under the name of EbixHealth.

Ebix funded the acquisition with internal resources using available cash reserves.

In accordance with Rule 3-05 of Regulation S-X the business acquisition of FACTS has been determined not to be significant to Ebix's consolidated financial position or results of operations.

A copy of the press release, dated May 20, 2009, announcing the acquisition of FACTS is attached to this Form 8-K, as Exhibit 99.1.

Item 9.01 Exhibits

99.1: Press Release, dated May 20, 2009, as issued by Ebix, Inc. (re: the FACTS acquisition)


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