Subsequent Events (Notes)

6 Months Ended

Jun. 30, 2019

Subsequent Events [Abstract]

Subsequent Events [Text Block]

Note 13: Subsequent Events

Repurchases of Common Stock

Subsequent to June 30, 2019 and through August 9, 2019 the Company has re-purchased an additional 45,000 shares of its outstanding common stock for aggregate cash consideration in the amount of $2.0 million and at an average rate of $43.99 per share. All share repurchases were done in accordance with Rule 10b-18 of the Securities Act of 1934 as to the timing, pricing, and volume of such transactions, and were funded from available cash resources.

Acquisitions

On July 16, 2019, Ebix, announced that it had entered into a merger agreement with Yatra Online, Inc., a Cayman Islands exempted company limited by shares (“Yatra”). In the merger, Yatra shareholders will receive Ebix Series Y Convertible Preferred Stock. Based on the measured trailing volume weighted average price the transaction implies an enterprise value of $337.8 million and post adjustment for Indebtedness, Working capital, Warrants to be converted and minimum cash requirement, a net equity value of $239.0 million.