Subsequent Events (Notes)

9 Months Ended

Sep. 30, 2018

Subsequent Event [Line Items]

Subsequent Events [Text Block]

Note 12: Subsequent Events

Repurchases of Common Stock

Subsequent to September 30, 2018 and through November 9, 2018 the Company has re-purchased an additional 243,651 shares of its outstanding common stock for aggregate cash consideration in the amount of $14.0 million and at an average rate of $57.60 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.

Acquisitions

On October 23, 2018 the Company announced that one of its India-based EbixCash subsidiaries has acquired a 67 percent stake in Routier, a Delhi-based B2B Marketplace for Trucking Logistics for approximately $400 thousand. Routier is pioneering a cloud based technology to change the way people move and receive inland goods in India.

On October 22, 2018 Company announced that it decided to further invest in the growth of its B2B business by acquiring the assets of travel company Business Travels Private Limited for approximately $1.1 million.

Stock Split

Ebix is holding a special meeting of shareholders on November 16, 2018 to approve an amendment to the Company’s certificate of incorporation to increase the number of authorized common shares. The increase is required to effect a five-for-one split of the Company’s common stock which has been approved by Ebix’s Board of Directors, subject to shareholder approval of the amendment. Provided shareholders approve the amendment, the Company plans to set a record date for the stock split, and thereafter shareholders of record on such date will receive four additional shares of common stock for each share of common stock held on the record date. Assuming shareholder approval, trading is expected to begin on a split-adjusted basis prior to December 15, 2018.