COSTA MESA, Calif. (May 27, 2009) – Ebix Inc., a provider of software and e-commerce solutions to the insurance industry, has acquired FACTS Services, Inc., a provider of software and hardware solutions for healthcare payers. Transaction terms were not disclosed.
McGladrey Capital Markets LLC initiated the transaction, led the negotiations and acted as the exclusive financial advisor to FACTS Services.
“Ebix was looking to expand its presence into the third party healthcare payer segment, and FACTS is a smart acquisition in the sector because of its strong user interface and loyal customer base,” said Brian Boyle, senior managing director at McGladrey Capital Markets.
About Ebix, Inc.
A CMMI 5 Company, Ebix, Inc. (www.ebix.com) is a leading international supplier of software and e-commerce solutions to the insurance industry. Ebix provides a series of application software products for the insurance industry ranging from carrier systems, agency systems and exchanges to custom software development for all entities involved in the insurance and financial industries.
Ebix, Inc. is listed on the NASDAQ Global Market (symbol: EBIX).
About FACTS Services, Inc.
Since 1981, FSI (www.factsservices.com) has been a leading provider of fully automated and integrated, high performance software and hardware solutions for healthcare payers, specializing in claims processing, employee benefits, risk management, cost containment and managed care. All FACTS products are available in a turnkey or ASP model. FSI's integrated, best-in-class technologies include systems for automatic adjudication, HIPAA, EDI, Internet, IVR, and workflow. As a single source provider servicing the full spectrum of a company's health claims management needs, FSI also provides integrated hardware options, services, training and support.
About McGladrey Capital Markets
McGladrey Capital Markets LLC (www.mcgladreycm.com) is a global provider of investment banking services to private and public companies with annual revenues of up to $1 billion. The firm’s services include mergers, acquisitions, divestitures, recapitalizations, capital raising, fairness opinions and restructurings. McGladrey Capital Markets, which offers in-depth expertise in 13 distinct industry sectors, brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives.
McGladrey Capital Markets is affiliated with RSM McGladrey Inc., a professional services firm providing accounting, tax and business consulting. Both firms are indirect subsidiaries of H&R Block Inc. (NYSE: HRB), the world’s preeminent tax services provider.
McGladrey Capital Markets is also a member of RSM International, a worldwide network of professional services firms. McGladrey Capital Markets’ international headquarters are located in Costa Mesa, Calif. The firm is a member of FINRA.
CONTACT:
McGladrey Capital Markets LLC
Kelly Osborne, Vice President
714.327.8880
kosborne@mcgladreycm.com