Subsequent Events (Notes)

3 Months Ended

Mar. 31, 2018

Subsequent Event [Line Items]

Subsequent Events [Text Block]

Note 11: Subsequent Events

Acquisition Bonus Agreement and SAR Agreement

On April 10, 2018, the Company entered into a Stock Appreciation Right Award Agreement (the “SAR Agreement”) with Robin Raina, the Company’s Chairman, President and Chief Executive Officer. The SAR Agreement replaced the Acquisition Bonus Agreement (the “ABA”) between the Company and Mr. Raina, dated July 15, 2009.

Amendment to Bank Credit Facility

On April 9, 2018, the Company and certain of its subsidiaries entered into the Seventh Amendment and Waiver (the “Seventh Amendment”) to the Credit Agreement. The Seventh Amendment increased the allowed indebtedness in the form of unsecured convertible notes of up to $250 million to $300 million at any time outstanding.

Acquisitions and Joint Ventures

On April 19, 2018 the Company announced that it has entered into an agreement to acquire a 60% stake in India based Smartclass Educational Services Private Limited (Smartclass), a leading e-learning Company engaged in the business of education services, development of education products, and implementation of education solutions for K-12 Schools. Under the terms of the agreement, Ebix will pay up to $8 million in cash for its stake in SmartClass.

On April 3, 2018 the Company announced that it has entered into an agreement to acquire India based CentrumDirect Limited (CDL), a leader in India’s Foreign exchange and outward remittance markets for approximately $175 million. CDL will be tightly integrated into Ebix’s Financial Exchange EbixCash offering in India and abroad, with key CDL business executives becoming an integral part of the combined EbixCash senior leadership. the agreement while approved by the Centrum Board, is subject to its shareholders and other regulatory/commercial approvals.