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PRNewsWire
1 year ago
Ebix Reaches "Stalking Horse" Sale Agreement for Life Insurance and Annuity Business with Zinnia to Ensure Successful Recapitalization Efforts
Company Continues to Have Robust Worldwide Operations and Strong Fundamentals Secures New Financing to Support Restructuring Process Proposed Transaction Provides Ongoing Stability for the Insurance Industry, Ensuring Continued World Class Delivery for Clients JOHNS CREEK, Ga., Dec. 18, 2023 /PRNewswire/ -- Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of on-demand software and e-commerce services to the insurance, financial services, travel, healthcare, and e-learning industries, announced today that it has reached a "stalking horse" agreement to sell its North American Life and Annuity assets (the "NA L&A Assets") to Zinnia, an Eldridge business and leading life insurance and annuity technology and service company, as part of its efforts to strengthen its balance sheet and position the Company for sustainable growth.