MENU × BUSINESS
Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
TECHNOLOGY
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
PLATFORM
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
LEADERSHIP
CEO ReviewCompany Review
MAGAZINE
ASIA INDIA
STARTUPS CLIENT SPEAK CONTACT US

The Silicon Review Asia

Ebix Inc Buys Miles Software for $19M

Ebix Inc Buys Miles Software for $19M

Ebix Inc. the American software company has made an announcement that it has acquired Miles Software, an Indian company for $19M. The acquisition took place through the Indian subsidiary of the company, i.e. EbixCash this week.

Post acquisition, Ebix has retained all the key business executives of Miles Software in their team. The company’s investment, wealth, and asset management division will be served by Miles Software. The task of Miles Software would be-interfacing Ebix products across different Ebix exchanges, i.e. financial and insurance exchanges.

Furthermore, the members of miles Software including its founder Milan Gantara have been assigned with the task of controlling Ebix’s global efforts. EbixCash will include Mr. Gantara in its senior leadership team In India.

According to Miles Software, they are fortunate to be a part of Ebix team. Ebix is one of the best global leaders in Software. They have around 7,500 clients exclusively working in India. Ebix’s worldwide presence and especially, in the UK, Australia, North America, and Brazil has the capability to produce new opportunities for the products of Miles Software.

According to Ebix, once the acquisition is integrated in the next few months, it will boost their earnings.  The company’s competitors include players like Accenture, StoneRiver, iPipeline, and Aplifi.

In 2017, Ebix purchased 80% stakes of ItzCash. The total valuation of the funding was $150M. Eventually, allowing Ebix to assume majority shareholder status in ItzCash.

 

YOU MAY ALSO LIKE

Salesforce Expands into Thailand, Opens Office in Bangkok

Salesforce has announced permanent presence in Thailand by launching its new office in the country’s capital, Bangkok. The permanent presence wi...

GMLL is expected to soon add two more stores to its retail arm ‘Price Mantra’

Garment Mantra Lifestyle, a popular name in the Indian fashion retail segment, recently made an announcement that the company is expanding its retail ...

Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...

Business Travelers to Stay at Singapore’s Changi Airport Bubble

Singapore’s open economy depends heavily on tourism and business. But its vibrant but small economy has been hurting as the circumstances due to...

RECOMMENDED