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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Ebix, Inc.    EBIX

EBIX, INC.

(EBIX)
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EbixCash Signs Agreement with Amadeus to Propel its end-to-end travel vision to empower travel agents, and travelers in APAC and UAE

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01/15/2020 | 07:32am EST
  • Amadeus becomes one of EbixCash’s preferred travel technology partners across APAC and UAE
  • Amadeus Travel Platform ensures travel sellers have access to content, via multiple channels and devices, supporting Ebix in its vision to be a true one-stop shop for all travel needs.

NOIDA, India and JOHNS CREEK, Ga., Jan. 15, 2020 (GLOBE NEWSWIRE) -- EbixCash, a fully owned subsidiary of Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries, today announced a strategic travel technology partnership with Amadeus to grow its footprint across the Asia Pacific region and UAE and become a one-stop shop for travel.

With 210K travel agents to service and 4.5 million users of its travel app, EbixCash needs access to an extensive range of content and the best, scalable technology to deliver what its agents, corporations and travelers need. The partnership will provide EbixCash’s online websites, travel agents and corporations in Asia Pacific and UAE with greater access to the unrivalled breadth of content offered by the Amadeus Travel Platform, enabling EbixCash to better serve its customers. Built on fully open systems, the Amadeus Travel Platform harnesses artificial intelligence to bring a greater level of personalized content into one integrated platform.

Mr. Robin Raina, Chairman of the Board, President & CEO, Ebix, said: “Our vision is to build an end-to-end travel solution for the industry. We want to empower travel agents and travellers alike. EbixCash today is the largest end-to-end financial exchange in the Indian sub-continent, besides its parent company Ebix being the largest insurance exchange in the world. We are always looking for new ways to stay ahead of our competitors. Partnering with Amadeus gives us access to innovative technology that will allow us to further expand our footprint across the region, especially in India, Thailand, the Philippines, Indonesia, Singapore, Dubai and Abu Dhabi, where we see the greatest potential.”

“Our growth strategy is built on the premise of having an unrivalled ‘phygital’ presence in the region – combining our physical distribution outlets in Southeast Asia with an omnichannel digital presence that allows our seller partners to have access to extensive real-time data and ecommerce solutions across all digital channels. Amadeus’ technology empowers EbixCash to deliver this and truly become a one-stop shop for travel.”

Champa Magesh, Executive Vice President of Retail in Travel Channels and Managing Director EMEA, Amadeus, said: “Partnerships are the foundation of progress. As EbixCash’s preferred travel technology partner, we are proud to support the company’s strategy to deliver increasing personalized experiences across all travel touchpoints in APAC and UAE. Amadeus’ open, collaborative approach allied with the scale, efficiency and performance offered by our Travel Platform means that we remain best placed to support our travel sellers — and their travelers — as they navigate the changing travel landscape.”

The Amadeus Travel Platform gives travel sellers access to additional and diverse content, including accommodation and ground transportation, so that travel sellers can remain competitive and sell travel in an efficient and personalized way.

Notes to the editors:

About Amadeus

Travel powers progress. Amadeus powers travel. Amadeus’ solutions connect travelers to the journeys they want through travel agents, search engines, tour operators, airlines, airports, hotels, cars and railways.

We have developed our technology in partnership with the travel industry for over 30 years. We combine a deep understanding of how people travel with the ability to design and deliver the most complex, trusted, critical systems our customers need. We help connect over 1.6 billion people a year to local travel providers in over 190 countries.

We are one company, with 19,000 employees across 70 offices. We have a global mindset and a local presence wherever our customers need us.

Our purpose is to shape the future of travel. We are passionate in our pursuit of better technology that makes better journeys.

Amadeus is an IBEX 35 company, listed on the Spanish Stock Exchange under AMS.MC. The company is also part of the EuroStoxx50 and has been recognized by the Dow Jones Sustainability Index for the last eight years.

To find out more about Amadeus, visit www.amadeus.com.

About EbixCash and Ebix, Inc.

With a "Phygital” strategy that combines 320,000 physical distribution outlets in many Southeast Asian Nations (“ASEAN”) countries, to an Omni-channel online digital platform, the Company’s EbixCash Financial exchange portfolio encompasses leadership in areas of domestic & international money remittance, foreign exchange (Forex), travel, pre-paid & gift cards, utility payments, lending, wealth management etc. in India and other markets. EbixCash’s Forex operations have emerged as a leader in India’s airport Foreign Exchange business with operations in 32 international airports including Delhi, Mumbai, Bangalore, Hyderabad, Chennai and Kolkata, conducting over $4.8 billion in gross transaction value per year. EbixCash’s inward remittance business in India conducts approx. $6.5 billion gross annual remittance business, confirming its undisputed leadership position in India. EbixCash, through its travel portfolio of Via and Mercury, is also one of Southeast Asia’s leading travel exchanges with over 2,200+ employees, 212,450+ agent network, 25 branches and over 9,800 corporate clients; processing an estimated $2.5 billion in gross merchandise value per year. For more information, visit the Company’s website at www.ebixcash.com

With 50+ offices across 6 continents, Ebix, Inc., (NASDAQ: EBIX) endeavors to provide On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries. In the Insurance sector, Ebix’s main focus is to develop and deploy a wide variety of insurance and reinsurance exchanges on an on-demand basis, while also, providing Software-as-a-Service ("SaaS") enterprise solutions in the area of CRM, front-end & back-end systems, outsourced administration and risk compliance services, around the world. For more information, visit the Company’s website at www.ebix.com   

Contact details:
Neil Rogan
Corporate Communications, Amadeus
Tel: +66 655 277 318
Neil.Rogan@amadeus.com

Darren Joseph
IR@ebix.com or 678 281 2027
David Collins or Chris Eddy
Catalyst Global - 212-924-9800 or ebix@catalyst-ir.com 

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© GlobeNewswire 2020
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Financials (USD)
Sales 2019 588 M
EBIT 2019 165 M
Net income 2019 103 M
Debt 2019 -
Yield 2019 0,84%
P/E ratio 2019 10,6x
P/E ratio 2020 8,21x
Capi. / Sales2019 1,85x
Capi. / Sales2020 1,53x
Capitalization 1 087 M
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Average target price 78,00  $
Last Close Price 35,64  $
Spread / Highest target 209%
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Robin Raina Chairman, President & Chief Executive Officer
Robert F. Kerris Chief Financial Officer
Pavan Bhalla Independent Director
Hans Ueli Keller Independent Director
Neil David Eckert Independent Director
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