Eraaya Lifespaces Limited has achieved a significant milestone with the successful acquisition of Ebix Inc. for an impressive USD 151.577 Million (approximately Rs 1273.25 Crores). This landmark transaction not only concludes Ebix Inc.'s Chapter 11 proceedings but also establishes Eraaya as the new holding company for Ebix Inc. and all its global subsidiaries.

The acquisition, which was finalized following a successful bid in June 2024, represents a major advancement for Eraaya Lifespaces. This achievement is a testament to the company’s strategic vision and financial strength. Dr. Vikas Garg, the driving force behind Eraaya’s expansion, expressed his enthusiasm: “This monumental acquisition is a significant leap forward for Eraaya, redefining our global stature and setting the stage for unprecedented growth. Ebix Inc. ushers in a transformative new era, and we are excited to leverage the synergies between our companies to achieve remarkable results.”

Eraaya Lifespaces Limited is poised to enhance its portfolio and strategic capabilities significantly through this acquisition. The integration of Ebix Inc. into Eraaya's operations is expected to drive substantial growth and value creation for all stakeholders. Dr. Garg further elaborated: “Our successful acquisition underscores our financial strength and commitment to excellence. We look forward to exploring new opportunities and delivering exceptional value.”

Ebix Inc.'s model has demonstrated notable resilience, emerging from challenging times with valuable insights and a fortified foundation. The renewed vision and revitalized energy of Ebix are set to propel the company towards new opportunities and growth. This acquisition encompasses full ownership of Ebix Inc. and its subsidiaries, integrating all associated assets and liabilities at an enterprise value of approximately USD 361 Million (~ Rs 3009 Crores).

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Ebix Inc., a leading international provider of On-Demand software and E-commerce services for the insurance, financial, and healthcare industries, operates a diverse range of solutions. Its portfolio includes infrastructure exchanges, carrier systems, agency systems, and risk compliance solutions. EbixCash, a significant part of its financial exchange operations, includes domestic and international money remittance, foreign exchange, travel services, and pre-paid and gift cards.

Eraaya Lifespaces Limited is committed to expanding its reach and capabilities beyond its current domain. With a strong foundation and clear vision, the company aims to explore new business fields and opportunities, driving innovation and creating value for its stakeholders. The successful acquisition of Ebix Inc. marks the beginning of an exciting new chapter for Eraaya, poised to shape the future of business in dynamic and unprecedented ways.

As Eraaya embarks on this transformative journey, it stands at the forefront of a new era, ready to leverage its expanded capabilities to deliver exceptional results and drive significant growth in the global market.

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