Subsequent Events (Notes)

9 Months Ended

Sep. 30, 2014

Subsequent Events [Abstract]

Subsequent Events [Text Block]

Note 12: Subsequent Events

Repurchases of Common Stock

Since September 30, 2014 and through November 10, 2014 the Company has re-purchased an additional 473,910 shares of its outstanding common stock for aggregate cash consideration in the amount of $6.5 million and at an average rate of $13.71 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, cash generated from the Company's operating activities, and draws from the Company's revolving line of credit with our syndicated commercial banking facility.

Business Acquisition

Effective November 3, 2014 Ebix acquired Connecticut based Vertex, Incorporated ("Vertex") in a share purchase agreement for total cash purchase consideration in the amount of $27 million and a possible contingent earnout of $2 million based on earned revenues over the subsequent twelve month period following the date of the acquisition. Vertex is a specialized software and services firm focused primarily on the life and annuity insurance marketplace since 1991. Ebix's goal with this business acquisition is to establish a non-aligned worldwide strategic management consulting practice targeted at the insurance, healthcare and financial industries all across the world. Under the terms of the agreement, Ebix acquired all of the outstanding capital stock of Vertex and funded the purchase using a mix of internal cash reserves and the bank credit line available to Ebix, with no Ebix shares being issued.