Ebix Takes Leadership Position in Digital Payments Market in India via Acquisition of 80% Stake in Fast-Growing ItzCash - Seite 3

• The acquisition of ItzCash by Ebix brings together complementary functionalities and the opportunity to forge a unique integrated Exchange to process financial, insurance and healthcare transactions for India's 1.3 billion population. With approximately 65% of its population below the age of 35, India represents the world's youngest and most tech-savvy market.
• Ebix's telemedicine, world leading health content exchanges, continuing education and health & wellness solutions can be offered now in an integrated manner, creating a healthcare offering that could be accessed by millions of consumers, 1,500+ corporate partners through an online super highway and a brick & mortar set up of 75,000+ distribution outlets.
• ItzCash will provide insurance carriers and brokers a gateway to reach India's vast population with new integrated insurance and finance offerings.
• A world-class service and support organization benefiting from the best practices and infrastructure investments of both companies.
• Cross-selling opportunities to sell each other's complementary services to existing clients of the two companies.
• An opportunity to expand the ItzCash technology and services to markets like Australia and Brazil where Ebix has a strong distribution capability.

"With the youngest tech-savvy society, the largest middle class, a 1.3 billion population, a country committed to going digital and a growth rate of 7% plus, India is an emerging economic superpower today. We are big believers in the power of exchanges and thus have been keen to take an early position in India in terms of powering financial and insurance exchanges," said Ebix Chairman, President and CEO Robin Raina. "In ItzCash, we found attributes that none of their peers had -- market penetration across 3000 cities, 75,000+ brick & mortar distribution outlets, a CAGR of approximately 35% and the only company who was profitable amongst all its peers. With one of India's most prominent business houses, the Essel Group deciding to align their interests with Ebix, the decision to invest in ItzCash became easy for us."